Maria Ramos 1 review | February 15, 2023
Helpful? (0) You found this review helpful
Chosen 69,398 times
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.
At Financer.com, all lenders go through a thorough research and review process. Here’s how we rate 5KFunds:
Yes, we recommend 5KFunds as a reliable lender marketplace. Skip to our full review below and see how we rate 5KFunds.
Want to skip the details? Jump to our final verdict here.
5KFunds offers loans from $500 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:
|Loan type:||Personal loans|
|Loan amount:||$500 – $35,000|
|Loan term:||Up to 72 months|
|Min. credit score:||None|
|Payout time:||One business day|
|Requirements:||At least 18 years old|
Active bank account
Valid phone number and email
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.
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.
5KFunds is seen as one of the top lending marketplaces for U.S. borrowers as it has an extensive range of approved lenders onboard.
With the 5KFunds platform, borrowers can get fast payouts as soon as the next day on approved loans. This means you can complete the entire process online without having to visit a lender’s office in person.
One of the best features of 5KFunds is their 100% free application process which also offers a fast turnaround time, making it ideal to apply for a loan online.
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.
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.
There is unfortunately no live chat option, so customers need to send an email to customer support with their inquiry. They do offer a fast turnaround time, though.
Compared to other U.S. lenders, there is no toll-free helpline available, which might be a dealbreaker for some potential borrowers.
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.
Here are the loan requirements when applying for a 5KFunds loan:
5KFunds is for you if:
5KFunds may not be a good option for you if:
Applying for a 5KFunds loan is fast and easy. Here are the steps:
Go to the 5KFunds website and click on the ‘Get Started’ button.
Submit your details, such as the loan amount required, the repayment term, your employment details, and your banking details.
Once you click on Continue, you’ll need to verify your identity by entering the last four digits of your Social Security Number (SSN).
A list of loan offers that best suit your needs will appear, making it easy to compare multiple offers in one place, within minutes.
Once a loan is approved, customers must communicate directly with their individual lenders to get personalized information.
Loan amounts range from $500 to $35,000 depending on the lender.
Each loan contract contains different requirements. It is essential that you thoroughly read your agreement before committing.
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.
Is 5Kfunds legit? Yes, at Financer.com we recommend 5KFunds.
At Financer.com, all lenders go through a thorough research and review process. We don’t make recommendations lightly.
All loan applications are done through their easy-to-navigate website with a simple process that takes less than five minutes to complete. There are 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.
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.
5KFunds don’t charge any fees. But some lenders may charge fees and interest.
Similar to many other short-term lenders in the U.S., the lenders’ APRs start at 5.99% and are capped at 35.99%. This is much lower than payday loans.
We feel that 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.
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.
5KFunds provides customer service via email and phone from Mondays to Fridays, 9 am to 6 pm.
We tested out 5KFunds’ customer service by requesting information via email. Although we did receive confirmation of our inquiry, we only received a formal reply a few days later, making their email support mediocre.
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.
You can borrow up to $35,000.
5KFunds does NOT charge any fee, however individual lenders may have their own origination and application fees.
5KFunds takes your privacy seriously, and the personal information you enter protected with 256-bit bank-level SSL encryption.
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.
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.
The 5KFunds marketplace is 100% free to use. However, the APRs from lenders vary from 5.99% to 35.99%.
You can use your 5KFunds personal loan for anything you want.
Loan repayment terms differ by lender but repayment periods vary from 61 days to 72 months.
You can use your personal loan from 5KFunds for almost anything – home improvements, a holiday, medical expenses, shopping, or more.
Here’s a list of alternatives to 5KFunds and how they compare:
|Lender||Reviews||Loan Amount||APR||Max. Loan Term||Bad Credit?|
|PersonalLoans.com||View||$500 – $35,000||5.99-35.99%||Up to 6 years||Yes|
|BadCreditLoans||View||$500 – $5,000||5.99-35.99%||Up to 2 years||Yes|
|CashUSA.com||View||$500 – $10,000||5.99-35.99%||Up to 6 years||Yes|
|Fast5KLoans||View||$500 – $35,000||5.99-35.99%||Up to 5 years||Yes|
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.
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.
5KFunds gets a 1.6 out of 5 stars on TrustPilot, with users showing mixed feelings:
Some users were unhappy about their personal information being shared, while others felt the service was fast and easy.
Read more reviews on Financer.com from verified users below.
Have you used 5KFunds before? Leave your review now.
Rate & Review 5KFunds
Your rate for this company. Edit Rate
Take a minute to write a review!
Share your experience and help others to choose the right company.
Visit their official website and learn more about 5KFunds
Or sign in with email
The username or password is incorrect.
Need a personal loan with a competitive APR?
5KFunds can help you find the best loan for your needs.
Borrow up to $35,000 today!
Thank you for choosing
Share your experience and help others to choose the right company.