Last Updated: 04/18/2025
SuperMoney User Recommendation Score +43
Mostly recommended7 total votes
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Highlights
Community Rating
Mostly recommended
APR (Fixed APR)
5.99% - 29.99%(Verified 06/21/2024)
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Amount Range
$4,000 - $25,000
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Loan Term (Months)
36 - 60
Number of Reviews
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 loan are available in 42 states.
Key Takeaways
- APRs starting at 5.99%. Personal loan interest rates typically range between 9% 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 FICO or VantageScore.
- Origination fees of 1% to 5%. This is average for lenders that charge origination fees. Don't forget that these fees are deducted from the loan amount, so take them into account when deciding how much money to borrow.
Peerform loan Pros & Cons
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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.
| 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 a late payment fee if you miss one of the regularly scheduled payments of up to $15.
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.
| 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. Peerform Personal Loans does not have or does not disclose a minimum annual income eligibility requirement.
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 or other government photo ID
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Credit Score | 600 - 850 |
What is the estimated funding time for a personal loan via Peerform loan?
Peerform loan will typically fund loans within 1 to 3 business days of approval and clearing necessary verifications.
Does Peerform Personal Loans report your account activity to credit bureaus?
Yes, Peerform Personal Loans reports to the following credit bureau:
- 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 build your credit.
Does Peerform Inc. perform a hard credit pull?
As is the case with most providers, a hard credit pull will likely occur if you accept an offer after checking your rates. Peerform loan allows you to check your rates with a soft credit pull.
Are Peerform Personal Loans legit?
Peerform Inc. was founded in 2010, it is a well-established company that has been in business for 16 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.
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