Rise is an online lender that has its base in Texas. It has been in business since 2013 and has dealt with thousands and thousands of borrowers since then. It places a particular emphasis on providing personal loans to people who have poor credit.
This is why the APRs tend to be quite high at Rise. There is an easy online application process and the time to funding is pretty quick. This Rise review will highlight all aspects of getting a personal loan from this lender.
|Loan types||Personal Loans, Instalment Loans, Cash Loans|
|Repayment terms||4-26 months|
|Minimum credit score||None|
|Lender type||Direct Lender|
Those who have poor credit and who want quick access to funds
Pros & Cons
- Fast funding time
- Easy application process
- No hard credit check
- Accepts people with poor credit
- High APRs
- Doesn’t offer the biggest loan sizes
If you want to get a personal loan from Rise, there are just a few easy steps that you’ll have to follow. The entire process can be wrapped up in just a minute or two. The entire application process is done online. You need to start the application process and provide the relevant information, such as personal details and details about your income.
Usually, Rise will ask you to provide documentation to verify your provided information. There will be no hard credit check during this process, which is good. If your application gets approved, then you will then have some flexibility when it comes to payment scheduling. You’ll be able to choose your own loan repayment terms.
Once you have decided on your loan terms, you will often have the money deposited into your checking account as quickly as the following business day. There is a five-day guarantee in place which means that you will be able to cancel the loan and not have to pay any fees.
Terms & Requirements
All of the personal loan providers that you find will have a list of different terms and requirements that you will need to be aware of. This will give you a good idea of what you can expect when you proceed with getting a loan from a certain lender. Here are the main terms and requirements that are associated with Rise personal loans:
Rise currently offers personal loans to people in 33 states. The exact terms of a personal loan will also vary depending on the state. Rise also does not offer loans to people in the military or their spouses. In most states, so you will need to be at least 18 years old, as well as having a steady income source, an active checking account, and an email address.
There are no application fees or origination fees charged by Rise. While Rise deals mainly with people with poor credit and will charge high APRs as a result, borrowers can get lower rates if they have proven that they are making consistent payments on time.
The exact APR will vary also depending on your state. Generally, you will be able to borrow between $500 and $5,000 through Rise. The exact borrowing sizes depend on your state.
Rise is different from a lot of lenders as it gives you the ability to choose your own repayment schedule. This means that you can structure the repayments to suit your needs the most. For example, you might prefer making repayments bi-weekly or monthly.
If you want to make early repayments, there will be no charge in place for doing so. There is a late fee in place, but you get a seven-day grace period before this gets charged.
Privacy & Security
Rise has built up a track record of success in the years it has been in business. This is reflected in the strong customer reviews you can find across various trusted sites. For example, Rise has a 4.6/5 rating on Trustpilot.
All data that is transmitted through Rise is kept secure through 128-bit TSL encryption. There are extensive protective measures in place to ward off attacks from nefarious people and groups, while Rise will not share your private data with any third party.
The Rise customer support lines are open seven days a week. If you want to ring the team by phone, these lines will be open during the week between 8am and 11pm EST, with the lies open from 9am until 6pm over the weekends.
There is an automated telephone system in place with means that borrowers can conduct account management at all times of the day. If you don’t want to ring the support team, you can alternatively send them an email. The usual response time is 24-48 hours.
Rise is going to be an ideal fit for people who need quick access to cash and who have poor credit. There will be steep interest rates on the borrowed money, which is something you will need to factor in before proceeding. Applying for a personal loan at Rise couldn’t be much easier and you get a great level of flexibility when it comes to repayments.
4150 International Plz Ste 300