Peerform Personal Loans
Peerform Personal Loans
in Personal Loans from Peerform Inc.

Peerform Personal Loans

in Personal Loans from Peerform Inc.
SuperMoney Net Recommendation Score +43  


This product is mostly recommended by SuperMoney users with a score of +43, equating to 3.9 on a 5 point rating scale.


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.

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Community Rating Mostly recommended
APR  (Fixed APR) 5.99% - 29.99%
Loan Amount $4,000 - $25,000
Loan Term (Months) 36 - 60 months
Number of Reviews 7

Peerform Personal Loans Review

Peerform Personal Loans is offered by Peerform Inc., a marketplace lending platform founded in 2010 and based in New York, NY. Peerform Personal Loans are available in 42 states across the USA.

Key Takeaways

  • APRs starting at 5.99%. Personal loan interest rates typically range between 5% and 36%. The starting rates for Peerform Personal Loans are on the lower end of the spectrum.
  • Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
  • Prequalified rate. You can check your prequalified rate at Peerform Inc. with a soft pull that will not affect your credit score.
  • Origination fees of up to 5%. This is average for lenders that charge origination fees. However, plenty of lenders don't charge them. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
  • Minimum income of $10,000. You will need an annual income of at least $10,000 to apply for Peerform Personal Loans, which is below average for the lenders in our database

Peerform loan Pros & Cons

Pros Cons
  • Low APRs available to qualified borrowers.
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Funding available within 1 business day.
  • APRs as high as 29.99%.
  • Charges an origination fee of up to 5% of the loan amount.
  • Charges a late fee of $15

Peerform loan FAQ

What interest rates and personal loan terms does Peerform loan offer?

Peerform loan has lower than average interest rates for lenders reviewed on SuperMoney.

What interest rates does Peerform loan offer?

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

How much can you borrow via Peerform loan?

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

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

Peerform loan offers loans with terms of up to 60 months.

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

What fees does Peerform loan charge?

Does Peerform loan charge an origination fee?

Peerform loan may charge a personal loan origination fee of 1% to 5% of the personal loan amount. Peerform loan deducts the origination fee directly from your personal loan amount, so make sure you take this fee into account when deciding how much you need to borrow.

Does Peerform loan charge a late fee?

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

Does Peerform loan charge prepayment fees?

No, Peerform loan 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.

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

What do you need to qualify for Peerform Personal Loans?

Applicants with a credit score of at least 600 and up to 850 may be eligible for Peerform Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for personal loans with Peerform Personal Loans, applicants need a minimum annual income of $10,000 or higher. Peerform Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.

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 Peerform Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Peerform Personal Loans.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid personal checking account
  • Recent pay stubs
  • Proof of income
  • Driver's license
Peerform loan Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Individual Applications
  • Credit Score 600 - 850

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

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

    Does Peerform Personal Loans report your account activity to credit bureaus?

    Yes, Peerform Personal Loans reports your account activity to the following credit reporting agencies:

    • 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.

    Are Peerform Personal Loans legit?

    Peerform Inc. was founded in 2010, it is a well-established company that has been in business for 13 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.

    Peerform Personal Loans Disclosure: Peerform may charge a borrower a late payment fee of $15 or 5% of the monthly payment amount, whichever is greater.
    SuperMoney Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
    Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

    Message From Peerform loan

    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.

    Message From Our Editor

    What We Love About Peerform Loans

    There’s a lot to enjoy about what Peerform Loans can offer. It’s a good solution for those who may not have a great financial history and who need an unsecured personal loan or consolidation loan. You’ll find that the interest rates tend to be fair, as well. One of the reasons that many people choose this option is because they have credit that could be better. Unlike many other lending companies, it’s often possible to get a loan even if you have a low credit score. Additionally, you only need to have one year of credit history to qualify, and they don’t take into account any minimum income requirement.

    When you compare this with other lenders, you’ll find that the requirements are much more stringent. The application process is fast and simple, and it won’t hurt your credit score when you apply.

    What Peerform Loans Could Do Better

    One of the only downsides to Peerform Loans is that you’ll have to pay an origination fee when you take out your loan. However, this comes out of the loan proceeds, which means you won’t have to pay anything out of pocket when you get the loan. In some cases, you may have to pay a more expensive interest rate and fee, and you may find that it’s harder to get funding through the investors if you’re put into a lower “grade” when you apply.

    Peerform Loans Backstory

    Peerform Loans has been operating since 2010, when it was founded. The goal was to help people find lending options when they may have had trouble getting loans in the past. The flexibility of the eligibility criteria helps with getting a loan.

    The Verdict

    Many lending companies can offer personal loans or consolidation. However, they may not have the same easy eligibility requirements as you’ll find with Peerform. If you need a loan, it doesn’t hurt to apply to see whether you’ll qualify and the types of rates you’ll be offered. Consider looking at some of the other options to see if you could get better rates before making a decision.


    Other Services by Peerform Inc.


      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

    Late Fee Amount $15
    Late Fee Grace Period 15 days
    No Prepayment Fee
    Origination Fee (%) 1% - 5%
    Checking Account Required
    Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Self-Employed
    • Retired
    • Unemployed
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Joint Loan Applications Accepted
    • Individual Applications
    Military Status
    • Active Duty Military
    • Non-Military
    • Veterans
    • Military Dependent
    Minimum Age 18
    Minimum Annual Income $10,000
    Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
    • 1099 Misc. Income
    Verification Documents Required
    • Driver License (or other photo ID)
    • Recent Pay Stubs
    • Proof of Income
    Credit Score Range 600 - 850
    Approval Speed 1 hour
    Credit Bureau Reporting TransUnion
    Funding Time Range 1 - 3 days
    Payment Options
    • Automatic Payments
    • Check by mail
    Pre-Qualified Soft Credit Inquiry
    APR Type Fixed APR
    Loan Amount $4,000 - $25,000
    APR (Fixed APR) 5.99% - 29.99%
    Loan Term 36 - 60 months

    Peerform Personal Loans Community Reviews


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    This product is mostly recommended by SuperMoney users with a score of +43, equating to 3.9 on a 5 point rating scale.


    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.

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