Possible Financing Installment Loans Review 2022 – Forbes Advisor

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While Possible Finance can offer borrowers with bad credit (or no credit) quick, small loans, it charges higher APRs than some other personal loan lenders. This is how installment loans from Possible Finance compare to the competition.

Possible financing vs. upgrade

Upgrade offers personal loans starting at $1,000, so it might be a better option than Possible Finance if you need to borrow more than $500. In fact, you can borrow up to $50,000 with Upgrade, and APRs start at around 6% and go up to 36%. Since Upgrade’s rates are much more competitive than Possible Finance’s, it might be worth checking if you qualify for one of their personal loans before borrowing an installment loan from Possible.

Upgrade requires a minimum credit score of 580 to qualify, making it a viable option for potential borrowers with damaged credit ratings.

Related: Update Personal Loans Review

Possible financing vs. SoFi

Possible Finance offers small loans up to $500, but SoFi funds personal loans ranging from $5,000 to $100,000. SoFi’s competitive APRs start at around 6%, but you must pass a credit check to qualify. SoFi requires a minimum credit score of 650. If you cannot qualify on your own, you can apply with a co-borrower, such as a co-borrower. B. a spouse or trusted friend.

Related: Review of SoFi Personal Loans

Possible funding vs. LightStream

Similar to SoFi, LightStream also offers personal loans ranging from $5,000 to $100,000, depending on the purpose of the loan, with competitive APRs that start in the single digits. While Possible Finance funds short-term loans, LightStream lets you pay off your loans over two to 20 years. You must have a minimum credit score of 660 to qualify for a LightStream personal loan.

Related: Review of LightStream Personal Loans

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