Peerform is a lending platform open to borrowers who have less than perfect credit. Continue reading the review to find out if Peerform will benefit you.
Peerform specializes in finding customers the right loans for their needs, but especially towards debt consolidation.
If you’re interested in a loan and aren’t sure where to start, then check out Peerform’s lending service. The application process only takes but a few minutes to check loan rates and terms. Apply today!
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Peerform Information
With Peerform, get a loan best suited for your needs!
| Lender | Peerform |
| APR | 5.99% – 29.99% for 3 – year loans 5.99% – 21.95% for debt consolidation loans |
| Loan Amount | $4,000 – $25,000 for any purpose $10,000 – $35,000 for debt consolidation |
| Term Length | 3 or 5 years |
| Origination Fee | 1% to 5% |
| Prepayment Fee | None |
| Late Fee | 5% or $15 |
| NSF Payment Fee | $15 |
| Minimum Gross Income | $10,000 |
| Minimum Credit Score | 660 |
| Repayment Options | Monthly |
Peerform Personal Loan Eligibility
To qualify for a Peerform personal loan, all applicants must have:
- A minimum credit score of 600
- A gross income of at least $10,000
- One year of credit history
- A Debt-to-income ratio of 40%
Pros and Cons of a Peerform Personal Loan
- You don’t need to own a home to apply.
- The application is simple and easy to follow.
- Initial credit check will not affect your credit score. However when your loan is approved, it will show up on the report.
- When approved, funding takes as little as one business day.
- A personal loan from Peerform can be used towards small business, debt consolidation, home improvement, medical bills and other special occasions.
- If you have excellent credit score, your APR can be as low as 5.99%.
- Peerform is not available in all states. They are not available in Connecticut, North Dakota, Vermont, West Virginia, Wyoming and Washington D.C.
- The funding processing could take up to two weeks.
- If you fail to make a payment in more than 15 days, There is a late payment fee of 5% or $15, whichever will be greater.
- If your payment gets rejected, you might be charged another $15 fee for unsuccessful transaction.
- There is a check processing fee of $15 if you choose to write a check for your payment instead.
How To Apply For a Peerform Personal Loan
- Fill out a brief personal loan application on Peerform’s website for the desired loan amount.
- On Peerform, once your financial profile has been reviewed, you may be offered loan alternatives.
- You will also have to present proof of identity through documentations.
Bottom Line
With Peerform, you have more flexible rates since they offer different APR amounts for a regular personal loan vs a debt consolidation.
You can get up to $25,000 in funds for a personal loan, and $35,000 for debt consolidation.
You can use your funds toward anything–auto bills, home improvement, special occasions and much more!
Are you interested in this personal loan from this lender? Please let us know in the comment section below on your experience!
If you want to search for more options on taking out the best personal loan, check out our full list of Best Personal Loans.
(Visit Peerform for more details)
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