Personify is a new online lender that offers unsecured personal loans to prime and subprime borrowers at reasonable rates. The lender is based in San Diego, California, and has a B rating with the BBB.
Loans are available in Alaska, Alabama, Arizona, California, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Kansas, Kentucky, Minnesota, Missouri, Mississippi, Montana, Nebraska, Ohio, Oklahoma, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah and Washington.
How Do Personify's Loans Work?
Personify is carving itself a niche as a provider of fast loans at reasonable prices for people with not-so-great credit. None of Personfy's loans have rates above 199% APR and it uses a proprietary risk assessment model that looks at more than borrowers' credit score. This makes it possible for people with all types of credit to qualify.
Personify's loans are unsecured personal loans. No need to provide property as collateral. There are no prepayment penalty fees, so paying off your loans early will save you money in interest.
Personify's rates vary depending on where you live, your credit profile, loan amount and loan term length. The rates range from 35% APR to 199% APR. In some states, there is a 5% origination fee and in some states there is no origination fee. There is a late fee for borrowers who don't make payments on time.
Maximum and minimum loan amounts also vary from state to state. Loan amounts range from $1,000 to $10,000.