RISE Personal Loans Review

RISE Personal Loans is offered by Elevate Credit, a direct lender founded in 2014 and based in Ft. Worth, TX. RISE Personal Loans is available in 10 states across the USA.

• Fast access to funds. In some cases you can get your money within 1 business day.
• Hard credit pull required. You can't check your rates or see if you prequalify for RISE Personal Loans without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
• No origination fee. RISE Personal Loans does not charge a loan origination fee.
• Short loan terms. RISE Personal Loans offers loan terms as short as 4 months. Most personal loans have a minimum term of 12 to 36 months.

Pros	Cons
$0 prepayment fee. $0 origination fee. Considers applicants with fair credit. Funding available within 3 business days.	APRs as high as 299%. Do not offer pre-approval with soft credit pull. Charges a late fee.

What rates and terms does RISE Personal Loans offer?

RISE Personal Loans has higher interest rates than the average for lenders reviewed on SuperMoney.

What fees does RISE Personal Loans charge?

What do you need to qualify for RISE Personal Loans?

Applicants with a credit score of at least 450 and up to 650 may be eligible for RISE Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

RISE Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. RISE Personal Loans only considers borrowers who are employed.

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. APRs for the RISE Personal Loans product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by RISE Personal Loans. Permanent resident / green card holders are also eligible to apply.

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

• Applicants must have an active and valid personal checking account
• Proof of citizenship or residence permit

RISE Personal Loans Eligibility Criteria

Minimum Age	18
Bank Account Required?	Yes
Application Types Accepted	Individual Applications
Credit Score	450 - 650

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

RISE Personal Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 3 business days of approval.

Does RISE Personal Loans report your account activity to credit bureaus?

Yes, RISE 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.