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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 personal loan APRs are offered via Peerform?
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.
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 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.
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
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:
Message from Peerform
Other Services by Peerform
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- Rhode Island
- South Carolina
- South Dakota
|No Prepayment Fee|
|Late Fee After (number of days)||15|
|Late Fee Amount||$15|
|Origination Fee||1% - 5%|
|Credit Score Range||
600 - 850
850 300 600
|Immigration Status Considered||
|Minimum Annual Income||$10,000|
|Bank Account Required|
|Employment Statuses Considered||
|Supported Income Types||
|Joint Loan Applications Accepted||
|Verification Documents Required||
|Loan Amount||$4K - $25K|
|Loan Term (Months)||36 - 60|
|APR (Fixed APR)||5.99% - 29.99%|