Frequently Asked Questions

Simply put, a personal loan is an unsecured loan,  meaning it does not require collateral. It gives you access to funds you  can use for a variety of purposes, like consolidating debt, paying for  unexpected expenses, remodeling your home, or taking that dream vacation.

Unlike a mortgage or student loan, which are designed for defined  uses, you have the freedom to spend a personal loan on almost anything  you want. 

There are six minimum requirements to be eligible for a personal loan. You must:

1. Have a valid U.S. SSN.
2. Be at least 18 years old.
3. Have a minimum individual or household annual income of at least $25,000.
4. Have a physical address.
5. Have an active email address and access to a computer or mobile device to finalize your application online.
6. Have a 550+ Credit Score

Once you meet those minimum eligibility requirements, several other  factors are considered when processing your application. These include  the information you provide on your application and information from  credit bureaus (which includes your credit history, recent credit  activities, and credit inquiries registered to your name).

 A personal loan has many different uses. Because funds can be deposited  directly into any of your bank accounts, you can use a personal loan in a  variety of ways. Personal loans are often used for debt consolidation, so you may be able to pay down your debt at a fixed rate. A personal loan can also help finance a large purchase, like a wedding, a vacation or a home remodel. If you're facing an unexpected expense or a financial emergency you can get the funds you need with a personal loan. You can also use a personal loan to cover medical bills, cosmetic surgeries, adoption or IVF,  auto repairs, and more.                  

Money can be sent as soon as the 1 business day once you’re approved and accept the loan, provided:

• The application submitted has no typos or errors
• The loan is funded on a weekday night
• The funds are disbursed electronically to your checking or savings account only

If there are errors on your application, the loan is funded on a  weekend, or you request funds be delivered by another method,  disbursement of your personal loan funds can take longer.