Features

Where does FreedomPlus do business?

FreedomPlus is a lending platform based in San Mateo, CA. It was founded in 2010 and offers access to personal loans in 36 states (and Washington, DC).

What range of rates does FreedomPlus offer?

FreedomPlus offers personal loans with APRs starting at 4.99% and up to 29.99%.

Does FreedomPlus charge an origination fee?

Yes, FreedomPlus charges a loan origination fee of 0% to 5% of the loan amount. FreedomPlus deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow. 

Does FreedomPlus charge a late fee?

Yes, FreedomPlus may charge borrowers a late payment fee

Does FreedomPlus charge prepayment fees?

No, FreedomPlus does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from FreedomPlus?

Loan amounts start at $10,000 and go up to $35,000.

What is the maximum loan term you can get with FreedomPlus?

FreedomPlus offers personal loans with terms ranging from 6 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for a loan with FreedomPlus?

Applicants with a credit score of at least 670 can apply for a loan via FreedomPlus. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.

Active duty servicemembers and their covered dependents are eligible to apply for a loan via FreedomPlus. Their rates fall within the limits of The Military Lending Act.

Only U.S. citizens and permanent residents can apply for a loan.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • Proof of citizenship or residence permit
  • Recent pay stubs
  • Proof of income

What is the estimated funding time for a personal loan via FreedomPlus?

FreedomPlus will typically approve (or deny) a loan application within 48 hours and fund personal loans as soon as 1 business day of approval.

Does FreedomPlus report loan payments to credit bureaus?

FreedomPlus reports credit data to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

How does FreedomPlus describe itself?

FreedomPlus specializes in providing personal loans of $10,000-$35,000 for borrowers who want to consolidate high-interest debt. Unlike many other online lenders, borrowers who apply for a personal loan from FreedomPlus can speak to a loan consultant over the phone to discuss their financial goals and get a loan customized to fit their financial situation. Eligible borrowers could qualify to save on interest with our exclusive rate discounts, including: - Co-borrower discounts for borrowers who

  • Cosigner Optional
  • Credit Score Range
    670 - 840
  • Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Retired
    • Self-Employed
    • Unemployed
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Joint Loan Applications Accepted
    Co-signer
  • Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
  • Minimum Age
    18
  • Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
  • Verification Documents Required?
    • Proof of Income
    • Recent Pay Stubs
    • Driver License (or other photo ID)
    • Proof of citizenship/residence
  • No Prepayment Fee
  • Origination Fee
    Up to 5%
  • Approval Speed (Hours)
    48
  • Credit Bureau Reporting
    • Equifax
    • Experian
    • TransUnion
  • Customizable Payment Dates
  • Funding Time Range (in days)
    1 - 7
  • Joint Loans Available
  • Payment Options
    • Automatic Payments
    • Check by mail
  • Loan Amount
    $10000 - $35000
  • Loan Term Range (Months)
    6 - 60
  • APR
    4.99% - 29.99%
  • Max Loan Term (Months)
    60
All loans available through FreedomPlus.com are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. All loan and rate terms are subject to eligibility restrictions, application review, credit score, loan amount, loan term, lender approval, and credit usage and history. Eligibility for a loan is not guaranteed. Loans are not available to residents of all states – please call a FreedomPlus representative for further details. The following limitations, in addition to others, shall apply: FreedomPlus does not arrange loans in: (i) Arizona under $10,500; (ii) Massachusetts under $6,500, (iii) Ohio under $5,500, and (iv) Georgia under $3,500.00. Repayment periods range from 24 to 60 months. The range of APRs on loans made available through FreedomPlus is 4.99% to a maximum of 29.99%. APR. The APR calculation includes all applicable fees, including the loan origination fee. For Example, a four year $20,000 loan with an interest rate of 15.49% and corresponding APR of 18.34% would have an estimated monthly payment of $561.60 and a total cost payable of $7,948.13. To qualify for a 4.99% APR loan, a borrower will need excellent credit on a loan of $15,000 with a term of 24 months, and qualify for at least two of the following discounts: (1) add a co-borrower who has sufficient income; (2) use at least fifty percent of the loan proceeds to directly pay off existing debt; or (3) show proof of having at least forty-thousand dollars in retirement savings – contact FreedomPlus for further details.
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