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Promise Financial

in Personal Loans

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Out of Business

Promise Financial

in Personal Loans

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Overview

Where does Promise Financial do business?

Promise Financial is a lending platform based in Hoboken, NJ. Founded in 2014, Promise Financial offers access to personal loans in 42 states (and Washington, DC).

What are the APRs offered via Promise Financial?

Promise Financial has a variable APR that ranges from 6.99% up to 29.99%.

Does Promise Financial charge an origination fee?

Yes, Promise Financial charges a loan origination fee of 1% to 6% of the loan amount. Promise Financial deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow. 

Does Promise Financial charge a late fee?

Yes, Promise Financial may charge borrowers a late payment fee of up to $15, which is triggered if you're 15 days late.

Does Promise Financial charge prepayment fees?

No, Promise Financial does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow via Promise Financial?

Loan amounts start at $3,000 and go up to $35,000.

What do you need to qualify for a loan with Promise Financial?

Applicants with a credit score of at least 620 can apply for a loan via Promise Financial . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

Active duty servicemembers and their covered dependents are eligible to apply for a loan via Promise Financial. Their rates fall within the limits of The Military Lending Act.

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

  • Proof of citizenship or residence permit
  • What is the estimated funding time for a personal loan via Promise Financial?

    Promise Financial will typically approve (or deny) a loan application within 36 hours and fund personal loans within 7 business days of approval.

    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...

    Contact

    • Headquarters
    • 22 Hudson Place
      Hoboken, NJ 07030 USA
    • Visit Site

    Availability

    Available in 42 States and Washington, DC
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Connecticut
    • Delaware
    • Washington, DC
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Kentucky
    • Louisiana
    • Maryland
    • Massachusetts
    • Michigan
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Hampshire
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • Ohio
    • Oklahoma
    • Pennsylvania
    • Rhode Island
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Vermont
    • Virginia
    • Washington
    • Wisconsin
    • Wyoming

    Feature Breakdown

    No Prepayment Fee
    Late Fee Amount
    $15
    Late Fee After (number of days)
    15
    Origination Fee
    1% - 6%
    Minimum Age
    18
    Joint Loan Applications Accepted
    • Only Individual Applications
    Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
    Credit Score Range
    620 - 850
    850 300 620
    Immigration Status Considered
    • U.S. Permanent Resident
    Verification Documents Required
    • Proof of citizenship/residence (Green Card)
    Loan Amount
    $3K - $35K
    $100 $100K+
    APR
    6.99% - 29.99%
    4% 100%+

    Reviews

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