(Edited)
UpsidesIt looked promising since I have bad credit and the website stated it worked with bad credit
DownsidesThey absolutely did nothing for me , so after rereading the website I think it's a way to get my information and do nothing else
Review of 5KFunds
Loans from $100 – $35,000
Free loan comparisons from over 100 lenders
APRs from 5.99%
Flexible payment options
No minimum credit score requirements
Up to 72 months repayment terms
Summary
What is 5KFunds?
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, 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.
- Loans from $100 – $35,000
- APRs from 5.99%
- Up to 72 months repayment
- No minimum credit score
Read 63 reviews
A loan connection service to find the right personal loan for your individual circumstances, ensuring you are getting the right personal loan.
Products Offered
5kFunds offers the following:
- Payday loans
- Installment loans
- Lines of credit
5KFunds are committed to providing loan options regardless of credit score – one of the many advantages of using 5K Funds.
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.
How 5KFunds Work
With 5K Funds 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.
Eligibility Requirements
Here are the loan requirements when applying for a 5K Funds 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 required.
Rates & 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.
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.
How To Apply for a 5KFunds Loan
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 63 reviews
How 5KFunds Compares
5KFunds is a very reputable lender that offers loans of up to $35,000. Here’s how they compare to similar lenders in the U.S.:
| Company | Loan Amount | APR | Term |
|---|---|---|---|
| PersonalLoans.com | $500 – $35,000 | 5.99-35.99% | 3 Months – 6 Years |
| BadCreditLoans | $500 – $5,000 | 5.99-35.99% | 10 Days – 2 Years |
| CashUSA.com | $500 – $10,000 | 5.99-35.99% | 3 Months – 6 Years |
| Fast5KLoans | $500 – $35,000 | 5.99-35.99% | 6 Months – 5 Years |
One of the best reasons for applying for a loan with 5KFunds is that interest rates from participating lenders are listed transparently.
However, lenders still remain ultimately responsible for offering APR rates (that start from only 5.99%). These rates are attractive given many lenders start with 10.99% APR for similar loans.
In terms of loan repayment times, lenders in 5kFunds’ marketplace offer lending periods ranging from two to 72 months.
To make sure you understand the costs involved in a 5KFunds loan, always research 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.
Our 5KFunds Review
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
Not available in NY, CT, VT, WV, AK, and GA.
No online chat feature.
No toll-free helpline for assistance.
Cons
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 5K Funds prepare options that best suit your personal needs.
Privacy and Security
5K Funds 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.
Customer Service
5KFunds provides customer service via email and phone. They offer a fairly fast turnaround time to customer requests.
Read more 5KFunds reviews from customers below or add your own.
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 lender you select may charge you other fees in addition to your interest rates, but you will be informed about the fees before you accept the loan offer.
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.
