
Peerform Personal Loans
Would you recommend Peerform Personal Loans to your friends?
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
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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 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.
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
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 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.
Message From Peerform loan
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Contact
- Headquarters
-
711 3rd Ave, 6th floor
New York, NY 10017 USA - (800) 338-8049
- Visit Site
- Email Support
Other Services by Peerform Inc.
Availability
- 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% |
Peerform Personal Loans Community Reviews
Would you recommend Peerform Personal Loans to your friends?