Highlights
Community Rating	Mostly not recommended
APR (Fixed APR)	50% - 299%
Loan Amount	$500 - $5,000
Loan Term (Months)	4 - 26 months
Number of Reviews	83

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 29 states across the USA.

Key Takeaways

APRs starting at 50%. Personal loan interest rates typically range between 5% and 36%. The starting rates for RISE Personal Loans are on the higher end of the spectrum.
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.
No late fees. Missing a payment can seriously damage your credit, but RISE Personal Loans will not charge additional fees if you miss the due date on a payment.
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.
Minimum income of $18,000. You will need an annual income of at least $18,000 to apply for RISE Personal Loans, which is below average for the lenders in our database

RISE Personal Loans Pros & Cons

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.

RISE Personal Loans FAQ

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 APR rate does RISE Personal Loans offer?

RISE Personal Loans offers a fixed APR personal loan product that ranges from 50% APR up to 299% APR.

How much can you borrow via RISE Personal Loans?

Loan amounts start at $500 and go up to $5,000

What is the maximum loan term you can get with RISE Personal Loans?

RISE Personal Loans offers personal loans with terms ranging from 4 to 26 months.

RISE Personal Loans Rates & Terms
Loan Amount	$500 - $5000
Loan Term	4 - 26 months
APR	50% - 299%

What fees does RISE Personal Loans charge?

Does RISE Personal Loans charge an origination fee?

RISE Personal Loans does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does RISE Personal Loans charge a late fee?

No, RISE Personal Loans will not charge you a late fee, which is triggered if you're 7 days late.

Does RISE Personal Loans charge prepayment fees?

No, RISE 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.

RISE Personal Loans Fees
Origination Fee	N/A
Prepayment Fee?	No
Late Payment Fee	N/A

What do you need to qualify for RISE Personal Loans?

Applicants with a credit score of at least 500 and up to 699 may be eligible for RISE Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for personal loans with RISE Personal Loans, applicants need a minimum annual income of $18,000 or higher. RISE Personal Loans only considers borrowers who are employed and meet the minimum income 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. 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	500 - 699

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.

RISE Personal Loans Disclosure: This RISECredit.com loan example is based on a monthly payment schedule. Payment schedules will align with your pay frequency as reported on your application. Loans are offered only to residents in states where permitted by law. To obtain credit, you must apply online and have a valid checking account (savings and prepaid accounts are not accepted), a job or regular source of income and email address to receive account information. Approval for credit and the amount for which you may be approved are subject to minimum income requirements and vary by state. In some cases, we may not be able to verify your application information and may ask you to provide certain documents, which may require you to log into your bank account or provide proof of income. Refer to Rates & Terms for additional details. Complete disclosures of APR, fees and payment terms are provided within your Agreement. 1Applications processed and approved before 6pm ET are typically funded the next business day. 2May be subject to minimum loan amount and loan term restrictions. Please visit www.RISECredit.com for details. 3You have 5 business days from your loan origination date to change your mind. If you decide that the loan isn’t right for you, simply call the toll-free customer service number at 866-580-1226, repay the principal within the 5 business day period and there will be no charges. In KS, TN and TX, installment loans are originated by Community Capital Bank, a Utah Chartered bank, located in Provo UT, Member FDIC. In AK, AZ, FL, HI, IN, KY, LA, MI, MN, MT, NE, NV, OH, OK, OR, WA and WY, Installment loans are originated by FinWise Bank, a Utah charted bank, located in Murray, UT, Member FDIC.

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
4150 International Plaza
Suite 300
Ft. Worth, TX 76109
Visit Site

Other Services by Elevate Credit

Loans

Personal Lines of Credit

43

88

145 Reviews

Message From Elevate Credit

For the millions of Americans who have limited access to credit products, RISECredit.com is a smarter borrowing option. RISECredit.com lenders offer installment loans with flexible payment schedules2 and the ability to pay off early with no prepayment penalties or fees. Customers pay for only the number of days they keep the loan. In addition, RISECredit.com provides a 5-day risk-free guarantee3 that allows customers to pay back only the principal with no interest if they decide the loan isn’t right for them. With features like fast approval, credit bureau reporting, free credit score monitoring, financial wellness tools, and flexible loan terms, RISECredit.com is more than just a loan – it’s a path toward a brighter financial future. In KS, TN and TX, installment loans are originated by Community Capital Bank, a Utah Chartered bank, located in Provo UT, Member FDIC.

Message From Our Editor

What We Love About RISE Loans

RISE is another company that is revolutionizing the personal loan industry. The company offers installment loans with an easy online application, instant or near-instant decisions, and funding as quickly as the next business day. This is what today’s consumers want-- quick, easy lending and solutions that fit those needs.

Of course, our favorite feature of RISE is that there’s a five-day guarantee on all loans. That’s right-- consumers have up to five business days from the financing of the loan to decide they don’t want the money after all. If they decide against the loan, they simply repay the principal, and there will be no fees assessed.

What Could RISE Do Better?

RISE currently has some shocking APRs, but that’s to be expected with installment loans. These types of “quick cash” loans are designed for emergencies, and because of their high-risk nature, they come with much higher interest rates. Thus, the loans are typically best used by those with only an urgent need and no other options. RISE could do well to be that lender for people, but if they expand their offerings and find a better interest rate bracket, they could also increase their consumer base and provide more solutions for all types of lenders.

RISE's Backstory

RISE was founded by people who wanted to help others with less-than-perfect credit who needed financial options. Personal loans are known for being difficult to obtain without perfect credit, so the RISE model allows more people to get the funding they require without the costs. The short-term installment loans are an alternative to traditional lending, and the company has a strong reputation in the industry for helping people with alternative financing.

The Verdict

RISE is a great choice for people who need large sums of cash fast. However, with the high interest rates and shorter repayment terms, it might not be the ideal solution for every lending need.

It’s best to apply to multiple lenders and see if you can get better rates elsewhere. At Supermoney, we have lender reviews to help you learn about the best providers and a loan engine that will help you compare your options in one place.

Availability

Available in 29 states

Alaska
Arizona
Delaware
Florida
Hawaii
Idaho
Indiana
Kansas
Kentucky
Louisiana
Michigan
Minnesota
Missouri
Mississippi
Montana
North Dakota
Nebraska
New Mexico
Nevada
Ohio
Oklahoma
Oregon
South Carolina
Tennessee
Texas
Utah
Washington
Wisconsin
Wyoming

Feature Breakdown

No Origination Fee
No Prepayment Fee
Late Fee Grace Period	7 days
No Late Fees