ForwardLend acts as an online marketplace that matches people with providers of personal loans. The process of getting up and running with ForwardLend takes just a few minutes. The Los Angeles-based company has been in business for a number of years and generally brings a low-cost offering to the table.
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If you are unsure about what specific lender you want to go with and want to test the field to find the best option, then an online marketplace like ForwardLend is going to be a good way to find the ideal solution. You have access to a wide range of lenders, covering most needs.
LOAN AMOUNT
$1,000 - $40,000
LOAN REPAYMENT TERM
61 days - 84 months
APR FIXED RATE
4.84% - 35.99%
APR VARIABLE RATE
4.84% - 35.99%
FUNDING TIME
1-2 days days
ORIGINATION FEE
None
PREPAYMENT FEE
None
OTHER FEES
Yes
SOFT CREDIT PULL
Yes
LENDER TYPE
Marketplace
Pros & Cons
Loan Purpose
As ForwardLend is a marketplace, it will deal with lenders that have varying loan terms and requirements. Generally, you will find loan amounts between $1,000 and $40,000.
There are often competitive rates to be found, while the credit score requirements will vary. Some lenders will charge typical fees, while others will take a low-cost approach. ForwardLend does not charge you anything directly for using the marketplace.
You will only need to spend a handful of minutes completing the application form at ForwardLend. Typical info needs to be provided, such as the size of the loan you are seeking, your annual income, and other standard personal info.
There will be no hard credit check conducted at this stage. Once you have submitted this form, you will then be presented with the various applicable loan offerings from participating lenders.
If you like the look of a certain loan offer, you can then proceed to submit an official application with that lender. A hard credit check will usually be necessary at this stage. The time it takes to get approval for your application and to get access to the funds is dependent on the specific lender.
Available in all states
Similar to other lending institutions and marketplaces, ForwardLend shares your information with their partners and affiliates, which they disclose in their terms and conditions presented when you complete your online pre-application form. Their website uses a number of security measures to keep your data safe, like SSL encryption.
ForwardLend doesn’t share information about all the lenders they partner with but claim to only work with reputable and reliable lenders. It’s hard to validate this, however, since there aren’t many online reviews from their users.
ForwardLend is not very forthcoming when it comes to the hours in which its support team works and the response times to emails can be quite slow. The website is very simple and straightforward, without providing a huge amount of info to people who might be interested in using the service.
ForwardLend offers you an easy way to compare the different personal loan options that are on the market today for you to avail of. The process is quite quick and easy, making it ideal for people who don’t want to get bogged down by a ton of information.
CONSUMER NOTICE
Personal loans are online loans which generally range from $1,000 to $40,000. These loans are not intended to be solutions to long-term financial issues. Consumers who have credit problems or who are facing debt should seek professional debt and credit counseling. Consumers are encouraged to learn of the risks involved in taking out loans, loan alternatives that may be more suitable to your needs and/or financial situation, and any local and state laws applicable to loans in your state. We strongly encourage you to completely read and review all loan agreements provided to you by your lender. If you accept the terms and conditions for a loan offer, you agree to repay the loan principal and finance charges according to the payment schedule detailed in the documents provided to you by your lender. If you miss a payment or make a late payment, additional fees/charges may apply.
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