
Motive Personal Loans
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APR (Fixed APR) | 5.99% - 35.99% |
Loan Amount | $100 - $5,000 |
Loan Term (Months) | 2 - 72 months |
Motive Personal Loans Review
Motive Personal Loans is offered by Motive Loan, a nonbank financial services provider founded in and based in Grandville, MI. Motive Personal Loans is available in 50 states (and Washington, DC).
- APRs starting at 5.99%. Personal loan interest rates typically range between 5% and 36%. The starting rates for Motive Personal Loans are on the lower end of the spectrum.
- Charges a prepayment fee. This is rare for personal loans. It means you will have to pay a fee if you pay off your Motive Personal Loans early.
- Origination fees of up to 10%. This is on the high end for lenders on SuperMoney's database. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
- Cosigner applications accepted. Applying for Motive Personal Loans with a cosigner can improve your chances of approval and help you qualify for lower interest rates.
- Short loan terms. Motive Personal Loans offers loan terms as short as 2 months. Most personal loans have a minimum term of 12 to 36 months.
- Super long loan terms. Motive Personal Loans offers loan terms of up to 72 months. Most personal loans have a maximum term of 60 months.
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What interest rates and personal loan terms does Motive Loans offer?
Motive Loans has lower than average interest rates for lenders reviewed on SuperMoney.
What interest rates does Motive Loans offer?
Motive Loans offers a fixed APR personal loan product that ranges from 5.99% APR up to 35.99% APR.
How much can you borrow via Motive Loans?
Business loan amounts start at $100 and go up to $5,000.
What is the maximum loan term you can get with Motive Loans?
Motive Loans offers loans with terms of up to 72 months.
Personal Loan Amount | $100 - $5000 |
Loan Term | 2 - 72 months |
APR | 5.99% - 35.99% |
What fees does Motive Loans charge?
Does Motive Loans charge an origination fee?
Motive Loans may charge a personal loan origination fee of 3% to 10% of the personal loan amount. Motive Loans deducts the origination fee directly from your personal loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Does Motive Loans charge a late fee?
No, Motive Loans will not charge you a late fee if you miss one of the monthly payments.
Does Motive Loans charge prepayment fees?
No, Motive Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
Origination Fee | 3% - 10% |
Prepayment Fee | N/A |
Late Payment Fee | No |
What do you need to qualify for Motive Personal Loans?
Applicants with a credit score of at least 500 and up to 850 may be eligible for Motive Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.Motive Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Motive Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.
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. Active duty service members and their covered dependents are eligible to apply for a loan via Motive Personal Loans. Their rates fall within the limits of The Military Lending Act.
U.S. citizens are, of course, eligible for the services offered by Motive Personal Loans. Permanent resident / green card holders are also eligible to apply.
To qualify, applicants may need to provide the following documentation:
- Recent pay stubs
- Driver's license
- Government issued photo ID
- Proof of identity
- Proof of citizenship or residence permit
Minimum Age | 18 |
Bank Account Required? | No |
Application Types Accepted |
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Credit Score | 500 - 850 |
Does Motive Personal Loans report your account activity to credit bureaus?
Yes, Motive Personal Loans reports your account activity to the following credit reporting agencies:
- Equifax
- Experian
- Transunion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
Contact
- Headquarters
-
2885 Sanford Ave SW
#42543
Grandville, MI 49418 - Visit Site
- Email Support
About Motive Personal Loans
Availability
- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- Washington, DC
- Delaware
- Florida
- Georgia
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- Nevada
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
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