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Peerform

in Personal Loans from Peerform

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Peerform

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in Personal Loans from Peerform

SuperMoney Net Recommendation Score +50% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Strongly recommended

3 users recommend
0 users are unsure
1 user doesn't recommend
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Highlights
Highlights
Community Rating Strongly recommended
Loan Amount $4,000 - $25,000
APR (Fixed APR) 5.99% - 29.99%
Loan Term (Months) 36 - 60

Overview

Where does Peerform do business?

Peerform is a marketplace lender based in New York, NY. Founded in 2010, Peerform offers access to personal loans in 42 states across the USA.

What rates and terms does Peerform offer?

What personal loan APRs does Peerform offer?

Peerform offers a fixed APR personal loan product that ranges from 5.99% APR up to 29.99% 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 Peerform?

Loan amounts start at $4,000 and go up to $25,000.

What can a personal loan from Peerform be used for?

Personal loans from Peerform are typically used for special purchases, debt consolidation, home improvement projects, weddings, medical expenses & procedures, unexpected expenses or similar purposes.

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

Peerform offers personal loans with terms ranging from 36 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.

Peerform Rates & Terms
Loan Amount $4000 - $25000
Loan Term 36 - 60 months
APR 5.99% - 29.99%

What fees does Peerform charge?

Does Peerform charge an origination fee?

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.

Peerform Fees
Origination Fee 1% - 5%
Prepayment Fee? No
Late Payment Fee $15

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.

To qualify for a Peerform loan, applicants need a minimum annual income of $10,000 or higher. Peerform will consider borrowers regardless of their employment status if they can prove their ability to repay the loan requested.

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
  • Applicants must have an active and valid checking account
  • Recent pay stubs
  • Proof of income
Peerform Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Joint Applications Accepted? Yes
Credit Score 600 - 850

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

Peerform will typically approve (or deny) a loan application within 1 hour and fund personal loans within 3 business days of approval.

Does Peerform report loan payments to credit bureaus?

Peerform may report credit data to the following credit reporting agencies:

  • Transunion
PEERFORM Disclosure: Peerform may charge a borrower a late payment fee of $15 or 5% of the monthly payment amount, whichever is greater.
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Contact

Message from Peerform

Founded in 2010 by Wall Street executives with extensive backgrounds in Finance and Technology, the Peerform marketplace lending platform is dedicated to helping borrowers by offering them hassle-free personal loans at great rates.

Other Services by Peerform

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. 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
  Available in 42 states
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington
  • Wisconsin

Feature Breakdown

No Prepayment Fee  
Late Fee After (number of days) 15
Late Fee Amount $15
Origination Fee 1% - 5%
Minimum Age 18
Credit Score Range 600 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Minimum Annual Income $10,000
Bank Account Required  
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
  • Unemployed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Joint Loan Applications Accepted
  • Individual Applications
Verification Documents Required
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
Loan Amount $4K - $25K
Loan Term (Months) 36 - 60
APR (Fixed APR) 5.99% - 29.99%

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