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  Promise Financial Personal Loans

Out of Business

Promise Financial Personal Loans

in Personal Loans from Promise Financial

Out of Business

Promise Financial Personal Loans

in Personal Loans from Promise Financial

Net Recommendation Score +100%

SUPERMONEY NET RECOMMENDATION SCORE

+100%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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Highlights
Community Rating

Rating not yet determined  

APR 6.99% - 29.99%
Loan Amount $3,000 - $35,000
Loan Term (Months) N/A

Promise Financial Personal Loans Review

Promise Financial Personal Loans is offered by Promise Financial, a financial services company founded in 2014 and based in Hoboken, NJ. Promise Financial Personal Loans is available in 42 states (and Washington, DC).

Key Takeaways
  • Fast access to funds. In some cases you can get your money within 1 business day.
  • Prequalifed rate. You can check your prequalified rate at Promise Financial with a soft pull that will not affect your credit score.
  • Origination fees of up to 6%. This is on the high end for lenders on SuperMoney's database. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
Promise Financial Personal Loans Pros & Cons
Pros Cons
  • Low APRs available to qualified borrowers.
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • APRs as high as 29.99%.
  • Charges an origination fee of up to 6% of the loan amount.
  • Promise Financial Personal Loans does not report to credit bureaus.
  • Charges a late fee of $15
Promise Financial Personal Loans FAQ

What rates and terms does Promise Financial Personal Loans offer?

Promise Financial Personal Loans has lower interest rates than the average for lenders reviewed on SuperMoney.

What APR rate does Promise Financial Personal Loans offer?

Promise Financial Personal Loans offers a personal loan product that ranges from 6.99% APR up to 29.99% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

How much can you borrow via Promise Financial Personal Loans?

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

Promise Financial Personal Loans Rates & Terms
Loan Amount $3000 - $35000
Loan Term N/A
APR 6.99% - 29.99%

What fees does Promise Financial Personal Loans charge?

Does Promise Financial Personal Loans charge an origination fee?

Promise Financial Personal Loans may charge a loan origination fee of 1% to 6% of the loan amount. Promise Financial Personal Loans 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 Personal Loans charge a late fee?

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

Does Promise Financial Personal Loans charge prepayment fees?

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

Promise Financial Personal Loans Fees
Origination Fee 1% - 6%
Prepayment Fee? No
Late Payment Fee $15

What do you need to qualify for Promise Financial Personal Loans?

Applicants with a credit score of at least 620 and up to 850 may be eligible for Promise Financial Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Promise Financial Personal Loans does not have or does not disclose a minimum annual income eligibility requirement.

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 Promise Financial Personal Loans. Their rates fall within the limits of The Military Lending Act.

Permanent resident / green card holders are also eligible to apply.

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

  • Proof of citizenship or residence permit
Promise Financial Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Application Types Accepted
  • Individual Applications
  • Credit Score 620 - 850

    What is the estimated funding time for a personal loan via Promise Financial Personal Loans?

    Promise Financial Personal Loans 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...
    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.

    Contact

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

    About Promise Financial Personal Loans

    Availability

      Available in 42 states and Washington, D.C.
    • 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 Grace Period 15 days
    Origination Fee (%) 1% - 6%
    Immigration Status Considered U.S. Permanent Resident
    Joint Loan Applications Accepted Individual Applications
    Military Status
    • Active Duty Military
    • Non-Military
    • Veterans
    • Military Dependent
    Minimum Age 18
    Verification Documents Required Proof of citizenship/residence (Green Card)
    Credit Score Range 620 - 850
    Loan Amount $3,000 - $35,000
    APR 6.99% - 29.99%

    Promise Financial Personal Loans Community Reviews

     

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    SUPERMONEY NET RECOMMENDATION SCORE

    +100%

    Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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