(Edited)
Upsides-
DownsidesCan’t get approve with nothing. Keep getting spams now and redirected to other fake loans. Bye personal information
5KFunds Review 2022
5KFunds is a well-established lending marketplace, offering free loan comparisons from over 100 approved lenders, all in one location.
With 5KFunds you can get a loan in as little as one business day and choose repayment periods of up to 72 months. With APRs starting at 5.99%, a 5KFunds loan can be a great option if you’re looking for fast funding.
Founded in December 2015, they operate under Sincerely, LLC. Their business address is located in Boca Raton, Florida.
Note: 5KFunds loans are available in most U.S. states except New York, Connecticut, Vermont, West Virginia, Alaska, and Georgia.
Their recipe for success is to provide high-quality loan options to all consumers. The 5KFund website is simple and straightforward and designed to gather information quickly and easily to present you with suitable loan offers.
How We Rate This Lender
At Financer.com, all lenders go through a thorough research and review process. We don’t make recommendations lightly.
As part of our lender review process, we consider the following:
- We look for regulatory authorities’ approval
- We test the majority of products and services ourselves
- We scour through user reviews
- We review pricing and fees in detail
- We take your feedback into consideration
Overview
5KFunds offers loans from $100 to $35,000 and APRs from 5.99%. They have flexible payment options and there are no minimum credit score requirements.
Borrowers have up to 72 months to pay and the approval process is very fast.
Here’s a quick summary of 5KFunds:
| Overview | Features |
|---|---|
| Loan type: | Personal loans |
| Loan amount: | $500 – $35,000 |
| Loan term: | Up to 72 months |
| APR: | From 35.99% |
| Min. credit score: | None |
| Monthly fees: | None |
| Payout time: | One business day |
| Weekend payout: | No |
| Requirements: | At least 18 years old U.S. citizen Active bank account Regular income Valid phone number and email |
With 5KFunds you can apply for personal loans online and benefit from a fast and secure application process. Receive up to $35,000 from a large selection of authorized lenders.
Products Offered
5kFunds offers the following:
- Payday loans
- Installment loans
- Lines of credit
5KFunds is committed to providing loan options regardless of credit score – one of the many advantages of using 5KFunds.
5KFunds also offers lines of credit to customers who are typically underserved at traditional financial institutions.
Want to find out more about the full range of offerings? Read our 5KFunds review below or view 5KFunds reviews from customers.
5KFunds Pros and Cons
Here are some of the pros and cons of 5KFunds as a lender:
A top lending marketplace in the U.S.
All credit types are acceptable.
No collateral required as 5KFunds only offers unsecured personal loans.
A streamlined and straightforward application process.
Simple and 100% free application process with a quick turnaround.
Qualify within minutes and receive your funds the next business day.
No credit check is required and the initial 5KFunds application won’t affect your credit score.
Pros
One of the best features of 5KFunds is their 100% free application process which also offers a fast turnaround time. 5KFunds is a top lending marketplace and compares a comprehensive list of U.S. lenders to get the best loan offers.
Borrowers with bad credit can also apply as there are no minimum credit score requirements, making 5KFunds a good option for people with lower credit scores.
As 5KFunds specializes in unsecured loans, you don’t need collateral to apply.
Not available in NY, CT, VT, WV, AK, and GA.
No online chat feature.
No toll-free helpline for assistance.
Cons
The only real drawback of 5KFunds is that they don’t operate in all U.S. states. This means that if you live in the states listed above, you won’t be able to apply.
However, if you’re looking for custom loan offers in these states, we list a range of verified lenders that offer personal loans online.
Who Is 5KFunds For?
5KFunds are for borrowers looking for a fast online loan without requiring a high credit score. By comparing multiple lenders, 5KFunds can give you personalized loan offers from leading U.S. lenders and there are no application fees.
If you’re looking for the best loan rates and you have an excellent credit score, you may want to consider other lenders that can offer you competitive rates.
Eligibility Requirements
Here are the loan requirements when applying for a 5KFunds loan:
- Be at least 18 years old.
- Be a U.S. citizen.
- Have an active bank account that accepts direct deposits.
- Have a regular stream of income.
- Have a valid contact number and an active email address.
- No minimum credit score is required.
How To Apply for a 5KFunds Loan
Applying for a 5KFunds loan is fast and easy. Here are the steps:
Step 1
Visit the Website
Go to the 5KFunds website. and click on the ‘Get Started’ button.
Step 2
Submit Your Details
Submit your details, such as the loan amount required, the repayment term, your employement details, and banking details.
Step 3
Receive Offers
A list of loan offers that best suit your needs will appear, making it easy to compare multiple offers in one place, within minutes.
Step 4
Review and Accept
After you’ve reviewed the offers and terms, accept the loan offer that works for you (if any).
Once a loan is approved, customers must communicate directly with their individual lenders to get personalized information.
Loan amounts range from $100 to $35,000 depending on the lender.
Each loan contract contains different requirements. It is essential that you thoroughly read your agreement before committing.
- Loans from $100 – $35,000
- APRs from 5.99%
- Up to 72 months repayment
- No minimum credit score
Read 77 reviews
What To Consider Before Applying
Before you apply for a personal loan, confirm that you reside in one of the states where 5KFunds operates in.
To make sure you understand the costs involved in a 5KFunds loan, always research the offers from lenders and look for origination fees, prepayment penalties, late fees, and more.
We suggest you always double-check any policies and terms before agreeing to a loan from a lender as 5kFunds just operates the marketplace and does not guarantee terms.
Although there is no minimum credit score required based on our 5kFunds review, keep in mind that the lender might do a hard credit check to determine your eligibility when you complete your loan application.
5KFunds Fees
APRs differ between lenders ranging from 5.99% – 35.99%. There are NO fees associated with using the 5KFunds site itself, though many lenders may have their own fees. Fees are dependent on the lender, not 5KFunds.
There are no prepayment penalties or hidden fees. Contact your lender directly If you are unsure whether you’ll be able to afford the repayments.
5KFunds Payment Terms
The repayment terms range from a 61-day minimum to a 72-month maximum. 5KFunds does not determine the rates and terms, as these are decided by the lending partners.
Some lenders allow payments to be debited automatically from your account to help you avoid late or missed payments. Payment schedules and late payments are worked out directly with the lender.
Be sure to read the terms of your loan offer before you agree and accept.
- Loans from $100 – $35,000
- APRs from 5.99%
- Up to 72 months repayment
- No minimum credit score
Read 77 reviews
How Financer.com Rates 5KFunds
Is 5Kfunds legit? At Financer.com we recommend 5KFunds. All loan applications are done through their easy-to-navigate website.
A simple process that takes less than five minutes to complete. NO fees and many lending partners in one location.
5kFunds.com is your guide to over 100 validated lenders, enter your details and let 5KFunds prepare options that best suit your personal needs.
Application Process
The application process with 5KFunds is very quick and easy. It takes only a few minutes to complete the steps and get your loan offers.
Costs
5KFunds’ fees are similar to many other short-term lenders in the U.S. APRs start at 5.99% and are capped at 35.99%. This is much lower than payday loans.
Although lenders still remain ultimately responsible for offering APR rates, these rates are quite attractive given that many U.S. lenders start with 10.99% APR.
There are no application fees either, making 5KFunds a good option for borrowers.
Payments
You have up to 72 months to repay a loan from 5KFunds. This is very similar to most other short-term U.S. lenders and gives you the freedom to have lower monthly payments over a longer period.
Customer Service
5KFunds provides customer service via email and phone. They offer a fairly fast turnaround time for customer requests.
Privacy and Security
5KFunds takes privacy seriously by encrypting and protecting all information according to the legal requirements and 256-bit encryption.
Similar to other loan marketplaces and online lenders, 5KFunds collects and shares user information with partners in their network.
5KFunds FAQs
How much can I borrow with a 5K Funds loan?
You can borrow up to $35,000.
What is the cost to use 5KFund?
5KFunds does NOT charge any fee, however individual lenders may have their own origination and application fees.
Is my personal information secure?
5KFunds takes your privacy seriously, and the personal information you enter protected with 256-bit bank-level SSL encryption.
Who do I contact about late payments?
Contact the lender directly if you have any issues repaying your loan. Late Payment penalties differ from lender to lender. Some lenders may automatically add a fee if it is in their agreement.
Why is 5KFunds a unique loan comparison service?
5KFunds partners with over 100 unique lenders and offers unsecured of up to $35,000. Once approved, money is directly deposited into the borrower’s bank account as soon as the next business day.
How much does a 5KFunds loan cost?
The 5KFunds marketplace is 100% free to use. However, the APRs from lenders vary from 5.99% to 35.99%.
What can I use the loan for?
You can use your 5KFunds personal loan for anything you want.
When do I repay my loan?
Loan repayment terms differ by lender but repayment periods vary from 61 days to 72 months.
What can I use a personal loan for?
You can use your personal loan from 5KFunds for almost anything – home improvements, a holiday, medical expenses, shopping, or more.
5KFunds Alternatives
Here’s a list of alternatives to 5KFunds and how they compare:
| Lender | Loan Amount | APR | Max. Loan Term | Bad Credit? |
|---|---|---|---|---|
| PersonalLoans.com | $500 – $35,000 | 5.99-35.99% | Up to 6 years | Yes |
| BadCreditLoans | $500 – $5,000 | 5.99-35.99% | Up to 2 years | Yes |
| CashUSA.com | $500 – $10,000 | 5.99-35.99% | Up to 6 years | Yes |
| Fast5KLoans | $500 – $35,000 | 5.99-35.99% | Up to 5 years | Yes |
Conclusion
5KFunds has been around for quite a while and has proven to be a leading U.S. lending platform where borrowers can get personalized loan offers.
Is 5KFunds legit? Yes. 5KFunds offers many benefits to online borrowers looking for a fast loan application process that doesn’t require excellent credit.
One of the best reasons for applying for a loan with 5KFunds is that interest rates from participating lenders are listed transparently.
Their customer service is responsive and they have a good feedback rating from past customers.
Read more 5KFunds reviews from customers below or add your own.
