Overview

If for whatever reason you find yourself in need of some fast cash, 5kfunds can help. They are a personal loan company that provides loans between $1,000 to $35,000 through a quick and easy online process.

Backed by an extensive network of over 100 lenders available, 5kfunds connects borrowers with a range of loan options with flexible terms and rates. Lenders compete to provide the optimum rates, and applicants can shop through different loan products to choose the ideal loan product. When lenders compete over your business, you come out on top.

Requirements

Personal loans are just that - personal, and as such, they can be used for a wide variety of reasons. Whether you need cash to pay for medical bills, wedding expenses, car payments, home repairs, and more, 5kfunds has got you covered. Furthermore, many borrowers use the funds to consolidate debt, by paying off one or more loans and benefitting from a lower APR on a 5kfunds loan.

In order to actually qualify for a 5kfunds personal loan, applicants must:

• Have a bank account
• Be US citizen
• Be 18 years or older
• Have a steady source of income

Loan Process

Without even getting up from wherever you are sitting, you can submit an application through the 5kfunds website and take steps toward securing a loan of up to $35,000. To get started, you'll need to provide some personal information such as your name and address as well as the loan amount you are seeking. Later, 5kfunds will also request financial information such as bank account number, current employment, and annual income.

After submitting your application, 5kfunds will go through their network of over 100 banks and financial institutions and match you with a list of suitable lenders. Next, you can browse through the various offers before selecting the loan that suits you best. Once you accept and are approved for the loan, 5kfunds will transfer the money directly to your bank account in a quick and efficient manner.

Loan Terms

5kfunds doesn’t provide loans themselves but offers an aggregate service that connects borrowers to a network of over 100 lenders. That means that applicants can go through a range of loan options before choosing the offer with the most optimal rate and repayment terms. Rates will depend on information such as credit score, income, and employment history. Their loan repayment periods have a 61-day minimum and 72-month maximum.

Meanwhile, the loan APR range will always fall between 5.99% to 35.99%.

As an example, if someone accepts a loan of $5,000 with a 36-month repayment period and an interest rate of 12%, they will make 36 monthly payments of $166.07, and the total loan cost would amount to $5,978.58. This does not include an origination fee which can vary from lender to lender.

Customer Support

Although customers can get in touch with 5kfunds directly by email or address, their service has relatively limited contact outlets available compared to other loan services. Still, their US-based customer support promises reliable help in English during business hours. That being said, they could improve their service by adding more online resources or forums to help customers in the loan application and repayment process.