in Personal Loans

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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 are the APRs offered via Peerform?

Peerform has a variable APR that ranges from 5.99% 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 via Peerform?

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

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

Peerform offers personal loans with a maximum term of 36 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 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 also consider borrowers who are unemployed as long as they have an annual income of $10,000 or 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
  • Applicants must have an active and valid checking account
  • 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 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

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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


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)
Late Fee Amount
Origination Fee
1% - 5%
Minimum Age
Credit Score Range
600 - 850
850 300 600
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Minimum Annual Income
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
  • Only Individual Applications
Verification Documents Required
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
Loan Amount
$4K - $25K
$100 $100K+
Loan Term (Months)
Up to
5.99% - 29.99%
4% 100%+


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