As 5K Funds does not make personal loans directly, there is limited information available on its website. The specific lenders will set terms and requirements once you have passed the prequalification stage.
- No minimum credit score is required. Individual lenders will make decisions on loan eligibility.
- Personal information must be provided for prequalifying, including bank account details and Social Security numbers.
Loan terms vary by individual loan provider, but the ranges of personal loans shown through 5K Funds are as follows:
- APR ranges from 5.99% to 35.99%. 5.99% is a reasonable rate for a personal loan at present, whereas 35.99% is higher than other marketplaces.
- Loans are available from between $500 and $35,000.
- Some loan providers may have origination fees applicable.
- Personal loan repayment terms range from 61 days to 72 months.
Prospective borrowers can take out personal loans for many uses, including major purchases, home expenses, vacations, or weddings.