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작성자 Heike 작성일23-02-21 22:15 조회3회 댓글0건

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Peerform has ceased offering new Personal Loans

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Peerform No Longer Offers New Personal Loans
Peerform no longer offers new personal loans. Check out personal loans from banks, credit unions and online lenders.
Annie Millerbernd Lead Writer Personal loans, "buy now, pay later" loans, cash advance apps Annie Millerbernd is a NerdWallet authority in personal loans. Prior to joining NerdWallet in 2019 she worked as an investigative reporter in California and Texas, and as an online content specialist at USAA. Annie's work has been cited by the media and has been featured on The Associated Press, USA Today and MarketWatch. She's also been featured by New York magazine and was featured on NerdWallet's "Smart Money" podcast as well as local TV and radio. She is based in Austin, Texas.





Nov 22, 2022


Written by Kim Lowe Lead Assigning Editor Consumer loans Kim Lowe leads the personal loans editorial team. The editor joined NerdWallet after 15 years of managing content for MSN.com that covered travel, health and food. Kim began her career as a writer for magazines covering mortgages as well as the restaurant, supermarket and mortgage industries. Kim earned her bachelor's degree in journalism at The University of Iowa and a Master of Business Administration from the University of Washington.







A majority of the items featured on this page are from our partners who compensate us. This impacts the types of products we feature and the location and manner in which the product is featured on the page. However, it does not influence our evaluations. Our views are entirely ours. Here is a list of and .



Peerform is an online lender that once offered peer-to peer personal loans has stopped accepting new loan requests.
The lender provided mid-sized loans to consumers with fair and bad credit (scores lower than 690) using the peer-to-peer model. A lender connects borrowers with investors that can finance their loans.
Peerform's loans ranged from $4,000 to $25,000 and had an annual percentage rate of 5.99% up to 29.99% and a three-year period of repayment.
>> MORE:
Alternatives to Peerform
Few lenders offer peer-to-peer loans in the present, but banks, online lenders, and credit unions might offer personal loans for borrowers with less than perfect credit. Check out lenders to find the one that will give you the best loan offer.
See if you pre-qualify for personal loan without impacting your credit score
Just answer a few questions to get an estimate of your personal rate from a variety of lenders.


Loan amount
on NerdWallet








Online lenders
Certain lenders on the internet seek borrowers with strong credit, while others lend to consumers with low credit scores or an unsatisfactory credit histories. A lender that is a consumer-friendly one keeps their rates at or below 36% and makes payments to all .
These lenders provide personal loans for borrowers who have good or bad credit.
previously offered peer-to-peer loans and now offers direct-to-consumer loans. LendingClub is an ideal option for those who want to consolidate high-interest debt due to its direct payment to creditors and discounted rates for consolidating debt loans.
lends to people across the spectrum of credit but has softer credit requirements than good- or excellent-credit lenders. Upgrade gives rate discounts as well as credit-building options, such as a credit report summary and credit score simulator.
uses more than just information from your credit reports and financial information to determine if you are eligible for an individual loan. The lender considers information like your educational background and your employer when it comes to its underwriting. Upstart affirms that it can make an approval decision instantly and fund a loan within the next business day.
>> COMPARE:
NerdWallet's ratings are determined by our editorial team. The scoring formula considers factors we consider to be consumer-friendly, including impact on credit score, fees and rates, customer experience and ethical lending practices.


NerdWallet's ratings are determined by our team of editors. The scoring formula considers the factors we believe to be beneficial to the consumer, such as impact on credit score, rates and fees customers' experience, and responsible lending practices.


The ratings of NerdWallet are based on the opinions of our editorial team. The scoring formula considers factors we consider to be friendly to consumers, such as the impact on credit score, rates and fees, customer experience and ethical lending practices.


Est. APR 8.30-36.00 percent

Est. APR 8.49-35.97%

Est. APR 6.50-35.99 Percent

Loan term 3 to 5 years

A loan term ranging from between 2 and 7 years

The loan term is between 3 and 5 years

Loan amount $1,000-$40,000

Amount of loan: $1,000-$50,000

Loan amount $1,000-$50,000

Min. credit score of 600

Min. credit score 560

Min. credit score None






Credit unions
often have lower rates than their rivals, however you must be a member of the organization to be eligible.
Credit unions typically accept low credit scores than banks and a few online lenders. Along with credit and income the credit union might consider membership history when reviewing a personal loan application, which may aid fair or bad credit customers qualify.
There are a variety of membership requirements for members as compared with the other financial institutions. The credit union offers 24/7 customer service and can approve a loan on the same day that you make an application for it. The amount of loans ranges from $1,000 to $50,000, and repayment terms are one to five years.
caters mostly to military members and their families. Personal loan rates are capped at 18 percent, which is the same for all federal credit unions. Personal loans are easy and flexible with terms of repayment up to five years and the option to get the option of a joint, co-signed and secured loan.
Banks
Bank personal loans are often only available to existing customers with good or excellent credit ratings, but some banks offer personal loans to non-customers, too.
The company offers more flexible loans to existing customers, with loan amounts up to $50,000 and repayment terms of between one and seven years and near-instant funding. Non-customers are able to take out loans up to $25,000 and repay the loan over a period of between one and five years, and funding can take as long as four days. The bank operates in 26 states.
lends to customers in loans in 15 East Coast states and Washington, D.C. It is also the only lender in Washington, D.C., and you don't have to be a customer to apply for personal loan. The bank can quickly accept and approve the loan. Amounts are from $2,000 to $50,000, and the repayment terms are three to five years.
How to compare personal loans
Here are some key characteristics to consider when comparing lenders.
APR: The APR of a loan represents its full cost, including fees and interest. This gives an apples-to apples comparison between lenders and other financial products such as credit cards. The loan that has the lowest APR is the cheapest overall.
Monthly payment: Even a loan with a low APR may have monthly payments that don't work into your budget. Typically, a lender will give you a projection of your monthly installment when you . Utilize a calculator to determine what loan amount, rate and repayment term fits your budget.
Origination fee: An is an amount that is a percentage of loan amount, usually 1% to 10%, which the lender will take out prior to making the loan. This is a standard fee for lenders online who focus on those with fair or bad credit. While it's included in your APR, it's still important to know if you'll be charged this fee and by how much it will reduce the loan amount.
Borrowing requirements Certain lenders have their borrowing requirements, which could include minimum credit scores as well as the maximum ratio of debt-to-income and the length of history with credit. Websites like NerdWallet collect this information from lenders when they look over personal loans.
Other features: Compare other like funding times and whether the lender provides credit-building assistanceand service accessibility. All of these options are not superior to the benefits of a low interest rate and affordable monthly payment However, they may aid in breaking the ties between two rival options.



About the author: Annie Millerbernd is an individual loans writer. Her work has appeared in The Associated Press and USA Today.







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