Personify Financial’s personal loans can be helpful for those who need to take out a small loan but are having trouble qualifying elsewhere. However, this lender’s annual percentage rates (APRs) are higher than those of many other lenders, which can make its loans much more expensive in comparison.
If you’re considering a personal loan from Personify Financial, here’s what you should know.
Personify Financial overview
Personify is an online lender with loans designed for borrowers with bad credit scores, which are typically considered to be FICO scores below 670. Its loans range from $500 to $15,000 — though amounts can differ in some states — and come with repayment terms from one to four years. If you’re approved, you could get your funds as soon as the next business day.
While Personify Financial’s minimum APR is in line with some other lenders offering loans for poor and fair credit, its maximum APR is excessively high. This means that getting a loan from this lender could be extremely expensive. Additionally, Personify Financial’s loans are available in only 24 states.
How to qualify for a Personify Financial personal loan
To qualify for one of Personify’s personal loans, you’ll need to live in a state where the lender is licensed. These…
