Vouch is a new online lender based in San Francisco, California, that is using social networks to obtain character references and loan guarantees. The company was created in 2013, has 22 employees, an A- rating with the BBB, and has raised $3.6 million from venture capital firms. The CEO and co-founder is Yee Lee, a Silicon Valley veteran whose previous startups include Katango, PayPal, Slide, and TaskRabbit. Sue Korn, another co-founder and CFO of Vouch, used to be head of operations at Prosper.

How Does Vouch Work?

Vouch provides low-interest loans to borrowers who have a network of people who will vouch for them. People vouch for borrowers by promising to pay a dollar amount, if they don't pay their loan. The minimum qualified vouch is $100 and must be provided by someone who is at least 18 years old and has a FICO score of 580 or greater. The more people are willing to vouch for you, the more you can borrow and the lower the rates you'll have to pay. To qualify for a loan, you must open an online account, meet their eligibility criteria and provide at least three people willing to vouch for you.

Vouch does not charge any application fees, annual fee or prepayment fees. It does have an origination fee of 1 to 5 percent, that is charged when borrowers receive their loans.

What Are Vouch's Interest Rates?

Interest rates range from 5% to 30% depending on borrowers' credit, the loan amount and the number of people willing to vouch for them. For example, if you qualify for a loan of at least $2000, you can decrease your interest rate by 1% for every qualified vouch you receive up to five qualified vouches.

How Much Money Can I Borrow with Vouch?

Vouch offers loan amounts ranging from $500 to $7,500. The maximum loan amount is determined by credit history, income and the number of vouchers a borrower has. For instance, if you get a loan offer of $1500, you can increase the loan offer by $250 for every qualified vouch up to three qualified vouches.

Which States Does Vouch Operate In?

Vouch operates in all 50 states.

What Is Vouch's Application Process Like?

You can complete the entire application online. To qualify borrowers must be at least 18 years old, legal residents of the United States, have a bank account and a FICO score of at least 600. They must also be current on all existing accounts and not be in foreclosure or bankruptcy proceedings.

How Is Vouch Better Than Other Lenders?

Vouch has created a new way to assess borrowers' creditworthiness that makes fast, low-interest loans available to people with credit scores as low as 600, as long as they have enough people willing to pay $100 or more to guarantee their loans. Vouch loans can be an excellent way to repay high-interest loans, such as credit cards or payday loans. The application process is done entirely online and has an easy to comply with eligibility criteria.

This is an exciting new loan product that has put a new spin on the concept of co-signing or guaranteeing a loan. However, Vouch only came out of its testing phase in April 2015 and made its first loan in October of 2014, so the jury is still out on how reliable and sustainable Vouch's risk assessment model will prove to be.

  • Loan Amount
    $500 - $7500
  • Payment Options
  • APR
    5% - 30%
  • Max Loan Term (Months)
  • Immigration Status Considered
  • Military Status
    • Active Duty Military
    • Non-Military
  • Supported Income Types
  • Verification Documents Required?
  • Institution Type
    Direct Lender
  • Approval Speed (Hours)
  • Funding Time
  • Credit Bureau Reporting
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0 votes

I was informed by their customer service that Vouch has ceased operations as of May 31st, 2016.

0 votes

Stay away from this lender. Applied over a month ago. Met all there criteria. I have called and sent several e-mails. I was told they are overwhelmed with applications. I think this lender is broke. Wish I had went with another company. I applied because as with anyone I needed the loan, business has been slow. Wanted to keep up on my bills and credit. Thanks to vouch stringing me along for so long I may not qualify with another lender now. Thanks to vouch I will have to rebuild my credit score ... as things pick up. STAY AWAY How do I get there inquiry removed from myvcredit report. I have sent them an e-mail again but I doubt they will comply. More Less

0 votes

Took some time but got a better rate than I was seeing elsewhere.

0 votes

Never go with this company takes 2 yrs to get credit inquiry off your credit

0 votes

Worked for me. Took a little time to get through process but apr was fair.

0 votes

I saw some of the poor reviews here, but just have to say that that wasn't my experience at all. I applied for a loan, I sent in my documents, and I got funds sent to my bank. It only took a few days. As a bonus, they lowered my rate because some friends sponsored me. My credit isn't that great and I was turned down from some other places, but Vouch really helped me out. No complaints from me.

0 votes

I had already applied when I found the super money reviews. Reviews made me nervous but I went ahead anyways since I'd started the process and it was smooth sailing to my loan so thought I'd add my two cents that vouch worked for me and I'd use it again if I need it which hopeful I won't because I don't like to borrow money.

0 votes

Great service. The interface was easy and the process was very streamlined. I'll use it again if needed.

0 votes

I got a reasonable loan from them. My brother and roommate backed me and that helped me get a $5000 loan rather than my original offer which was for $2500. Seems like other people have not had a good experience but mine was ok.

0 votes

I am still unraveling the inquiry mess Vouch created for me. They stuck me with a hard inquiry for which there was no permissible purpose, told me they would get it removed, & then failed at that. Had to turn to the CFPB to resolve.

0 votes

Most terrible peer 2 peer loan company, they ask for all documents and even verifying through decision logistic for online banking and all verified , now my documents was not enough , the company got mad because I don't have checks to be voided , the Yee Lee founder is a moron and his employees , don't trust them and now I have to change my bank info , terrible and stay away far

0 votes

Terrible company, they asked for pay stud , bank statement, driver lisences , and even verified my online banking and still ask for more documents, what other documents they need? Stay away they are amateurs and don't know what they doing , terrible vouch loan company . Can't give zero star, sorry

0 votes

Would not recommend. After going through hoops submitting documentation, giving them access to my bank account I was to be finalized with 3-4 business days on December 9, 2015. I emailed following up after the 3-4 business days and heard nothing. I message their FB business page today December 21, 2015 and received a quicker response and then received an email that "due to the lack of response" they would like for me to resubmit an application.

Disappointed to say the least, go elsewhere.

0 votes

Very poor customer service. Slow at making decisions. I was approved but I declined do to high rate and I have good credit. Went to another lender.

0 votes

This place is asking for my bank login credentials! Are they serious, that is a serious violation of my banking terms and you should NEVER give any login information to anyone! They use a scam website called decisionlogic, do NOT give them any bank login information EVER. This is a serious computer security prolblem. I'm waiting to see their response to my email calling them out and I"m reporting them to my bank.

0 votes

i was approved for $2500 @ 18.99% interest with a $126.01 payment for 24 months i have 9 vouches. sent all my required info and has been over 2 weeks and my documents are being reviewed again. they said they want my documents faxed(did that) they said they wanted them by email(did that). they are good at responding to emails though. communication is great, concept so-so. my credit score is 630-680 from all 3 bureaus.

0 votes

They told me they need three vouches and I got them, then voided check, paystubs, driver license. Did that, then w2's did that and now it has been 3 days. Oh and I forgot they said I was approved for 750.00 payments would be 77 dollars each month for a year. NOW my information that THEY HAVE is getting REVIEWED, are you serious. Three days it's been and I bet I will get denied a void this company if you can they make you go through hoops to get ... nothing. More Less

0 votes

The notion of cosigning another person's debt or obligation is a tried and true means of underwriting risk; fractionalizing the cosigning is certainly unique approach. It will be interesting, however to see what happens to a borrower's 'circle of friends' once they default and the co-signors are on the hook. :(

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