BorrowersFirst Personal Loan Review: No Longer Accepting Applications

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As of October 2017, BorrowersFirst is no longer accepting new loan applications.

BorrowersFirst has shut down operation according to the lender’s website. Current loans will continue to be serviced by partners of the company—borrowers should have received a letter with contact information for their new loan servicer. If you were considering a loan from BorrowersFirst, here are some alternatives:

LenderLoan AmountsRatesEligibility Criteria
$3,500 - $40,0006.99% - 24.99%
  • Must have Social Security or Individual Tax I.D. Number
  • At least 18 years old
  • Must have U.S. bank account
$2,500 - $35,0006.99% - 24.99%
  • U.S. citizen or permanent resident
  • At least 18 years old
  • At least $25,000 in household income
$1,000 - $50,0007.74% - 35.99%
  • U.S. citizen or permanent resident
  • At least 18 years old
  • Have a full-time job, a full-time job offer starting in 6 months (exceptions apply), a regular part-time job or another source of income
  • Credit score of 620 or higher
  • Low debt-to-income ratio
  • No bankruptcies
  • No current delinquencies
  • No more than 5 credit inquiries in last 6 months (excluding student loans, auto loans and mortgages)
$3,500 - $25,0006.98% - 19.97%
  • Must be pre-approved by American Express
  • At least 18 years old
  • U.S. citizen or permanent resident
  • Be primary cardholder on an American Express personal credit card
  • Have an online American Express account
  • Be in good status with American Express at time of loan application

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