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, Peerform Inc. will send the money in as little as 24 hours.
- 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
| 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 |
| Application Types Accepted |
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| 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.
SuperMoney Disclosure: SuperMoney.com 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
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.
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users mostly recommend this product, giving it a user recommendation score of +43, or 3.9 on a 5-point rating scale.
+43
-1000+100
No one recommends
Everyone recommends
Peerform Personal Loans Community Reviews
Would you recommend Peerform Personal Loans to your friends?
MC
Mazhar C.
Nov 25, 2022
May or may not recommend
Amazing love it thankful happy haha hubfeh hugf hhhfgh hhh Hugh
BY
Bettie Y.
Apr 27, 2022
May or may not recommend
The goof things about Peerform is that the fund come in quick. However, making a checking account with the company to obtain those funds is annoying and makes the process tedious if you need money now.
Heather D.
Mar 26, 2022
May or may not recommend
Peerform is simple and fair credit approved. Funds are available within 3 days, low Apr, and $0 prepayment fees make peerform a high recommendation. Unfortunately has some late fees attached as well
Cassidy A.
Jun 13, 2018
May or may not recommend
Amazing love it thankful happy haha hubfeh hugf hhhfgh hhh Hugh
U
Anonymous
Jun 7, 2018
May or may not recommend
I've had a very good experience with Peerform and they have always been responsive to my expectations.
U
Anonymous
Jun 7, 2018
May or may not recommend
I am so grateful I was able to get a personal loan from them. I used the money to pay my credit card debt, so now I pay less interest and only one monthly payment... so relieved. Thank you
U
Anonymous
Dec 13, 2017
May or may not recommend
Very disappointed in this process!!!!
Did everything they asked. Submit all documents. No communication whatsoever from them and then my loan was just closed out. Very unprofessional!!
Showing 7 of 7 reviews
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