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Kashable Loans Review
Kashable Loans is offered by Kashable, a direct lender founded in 2013 and based in New York, NY. Kashable Loans is available in 31 states across the USA.
- Fast access to cash. In some cases you can get your money within 1 business day.
- Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 300 are considered for Kashable Loans.
- Hard credit pull required. You can't check your rates or see if you prequalify for Kashable Loans without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
- Charges a prepayment fee. This is rare for personal loans. It means you will have to pay a fee if you pay off your Kashable Loans early.
- Short loan terms. Kashable Loans offers loan terms as short as 6 months. Most personal loans have a minimum term of 12 to 36 months.
Kashable Loans Pros and Cons:
What rates and terms does Kashable Loans offer?
Kashable Loans has lower interest rates than the average for lenders reviewed on SuperMoney.
What APR rate does Kashable Loans offer?
Kashable Loans offers a fixed APR personal loan product that starts at 6% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
How much can you borrow via Kashable Loans?
Loan amounts start at $250 and go up to $20,000.
What can a personal loan from Kashable Loans be used for?
Personal loans from Kashable Loans are typically used for special purchases, debt consolidation, home improvement projects, weddings, unexpected expenses or similar purposes.
What is the maximum loan term you can get with Kashable Loans?
Kashable Loans offers personal loans with terms ranging from 6 to 24 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.
|Loan Amount||$250 - $20000|
|Loan Term||6 - 24 months|
|APR||Starting at 6%|
What fees does Kashable Loans charge?
Does Kashable Loans charge an origination fee?
Kashable Loans may charge a loan origination fee.
Does Kashable Loans charge a late fee?
Yes, Kashable Loans may charge borrowers a late payment fee, which is triggered if you're 11 days late.
Does Kashable Loans charge prepayment fees?
Yes, Kashable Loans may charge additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.
|Late Payment Fee||up to $10|
What do you need to qualify for Kashable Loans?The minimum age to be eligible is 18 or the state minimum, whichever is higher.
Kashable Loans does not have or does not disclose a minimum annual income eligibility requirement. Kashable Loans only considers borrowers who are employed.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Kashable Loans product fall outside of the MLA limits and as a result the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.
Permanent resident / green card holders are also eligible to apply.
|Bank Account Required?||No|
|Application Types Accepted||
|Credit Score||300 - 700|
What is the estimated funding time for a personal loan via Kashable Loans?
Kashable Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 7 business days of approval.
Does Kashable Loans report your account activity to credit bureaus?
Kashable Loans reports your account activity to the following credit reporting agencies:
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.
- New Jersey
- New Mexico
- New York
- Rhode Island
- South Carolina
|Late Fee After||11 days|
|Late Fee Amount||Up to $10|
|Employment Statuses Considered||
|Immigration Status Considered||U.S. Permanent Resident|
|Joint Loan Applications Accepted||Individual Applications|
|Credit Score Range||
300 - 700
|Approval Speed||24 hours|
|Credit Bureau Reporting||
|Funding Time Range||1 - 7 days|
|Payment Options||Automatic Payments|
|Loan Amount||$250 - $20,000|
|APR (Fixed APR)||Starting at 6%|
|Loan Term||6 - 24 months|