Features

Where does Peerform do business?

Peerform is a marketplace lender based in New York, NY. It was founded in 2010 and offers access to personal loans in 41 states across the USA.

What range of rates does Peerform offer?

Peerform offers personal loans with APRs starting at 7.12% and up to 29.99%.

Does Peerform charge an origination fee?

Yes, Peerform charges a loan origination fee of 1% to 5% of the loan amount. Peerform 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 Peerform charge a late fee?

Yes, Peerform may charge borrowers a late payment fee of up to $15, which is triggered if you're 15 days late.

Does Peerform charge prepayment fees?

No, Peerform 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 Peerform?

Loan amounts start at $1,000 and go up to $25,000.

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

Applicants with a credit score of at least 600 can apply for a loan via Peerform. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

Active duty servicemembers and their covered dependents are eligible to apply for a loan via Peerform. 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
  • Recent pay stubs
  • Proof of income

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

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

  • Institution Type
    Marketplace Lending Platform
  • Credit Score Range
    600 - 850
  • Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Retired
    • Self-Employed
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Joint Loan Applications Accepted
    Only Individual Applications
  • Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
  • Minimum Age
    18
  • Verification Documents Required?
    • Proof of Income
    • Recent Pay Stubs
    • Driver License (or other photo ID)
  • Late Fee After (number of days)
    15
  • Late Fee Amount
    $15
  • No Prepayment Fee
  • Origination Fee
    1% - 5%
  • Approval Speed (Hours)
    48
  • Funding Time Range (in days)
    1 - 7
  • Payment Options
    Automatic Payments
  • Pre-Approved Soft Credit Inquiry
  • Loan Amount
    $1000 - $25000
  • APR
    7.12% - 29.99%
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