We determine your annual percentage rate (APR) based on several factors, such as your credit history and rating, the amount you want to borrow, and your total debt-to-income ratio. We then present you with a loan offer(s) based on what you can qualify for right now.
What you pay in interest annually, shown as a percentage of the total amount borrowed.
One-time fee of 3-6% of your loan amount based on your credit rating, and charged only when you receive your loan.
The total annual cost of your loan, including interest rate and origination fee, and the true cost of borrowing money. Use APR to compare loan costs across lenders.
Term | Loan Amount | Interest Rate | Origination Fee | APR | Amount Deposited | Monthly Payment |
---|---|---|---|---|---|---|
36 Months | $6,000 | 9.56% | $300 | 13.11% | $5,700 | $192.37 |
60 Months | $20,000 | 10.19% | $1,200 | 12.90% | $18,800 | $462.81 |
Your actual monthly payment will vary based on the terms and conditions of your loan offer (which includes your APR, loan amount, term, and origination fee). The example above is provided for illustrative purposes only; your experience may be different.
Term | Loan Amount |
---|---|
36 months | $6,000 |
Interest Rate | 9.56% |
---|---|
Origination Fee | $300 |
APR | 13.11% |
Amount Deposited | $5,700 |
Monthly Payment | $192.37 |
Term | Loan Amount |
---|---|
60 months | $20,000 |
Interest Rate | 10.19% |
---|---|
Origination Fee | $1,200 |
APR | 12.90% |
Amount Deposited | $18,800 |
Monthly Payment | $462.81 |
Your actual monthly payment will vary based on the terms and conditions of your loan offer (which includes your APR, loan amount, term, and origination fee). The example above is provided for illustrative purposes only; your experience may be different.
If your loan request is approved, you’ll be able to review the loan amount, interest rate, APR, monthly payment, and loan terms.
We ask for your Social Security number, and about your income and employment. If we need any other documents or information, we’ll let you know in your To Do List. Then, hold tight while we look for your investors on our marketplace and wrap up your loan.
If we find your investor match and your loan is funded, we’ll send the money directly to your bank account, and/or to your creditors if you choose this option. *