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5K Funds Personal Loans Review

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5K Funds is a personal loan marketplace owned and operated by Sincerely, LLC. The company is based in Boca Raton, Florida and partners with several personal loan lenders across the country.
 
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How is 5K Funds rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

5K Loans is a personal loan marketplace that can save you time by helping you find lenders that are willing to work with you. You can borrow as little as $1,000 or as much as $35,000 and use the money for virtually anything you want. But fees, interest rates, and qualification requirements vary by lender, so you'll have to do your own research on the lender you're paired with before applying for a loan.

5K Funds Loan Specifics

Loan Specifics - 0 / 5

5K Funds enables you to borrow anywhere from $1,000 to $35,000 with loan terms ranging from 60 days to 72 months. This is a pretty typical range for a personal loan company and should suit nearly every borrower. 5K Funds doesn't underwrite the personal loans itself. It partners with leading lenders nationwide, so decision and disbursement times vary depending on which partner you work with. Some lenders may offer credit insurance or unemployment protection while others will not. If you're interested in these options, ask the lenders you're paired with if they offer them.

Loan Uses

Debt/Credit Card Consolidation
Buy Home
Major Purchase
Home Improvement
Medical Expenses
Wedding
Moving/Relocation
Vacation
Start Business
Education
Taxes
Loan Minimum
$1,000.00
Loan Maximum
$35,000
Term Length
60 days to 72 months
Direct Deposit
Yes
Pay Creditors Directly
No
Decision Time
Varies by lender
Disbursement Time
Varies by lender
Credit Insurance
No
Unemployment Protection
No

Representative Loan Sample

For a $5,000, 36-month loan at an interest rate of 5.99% with a 2.5% origination fee of $125.00, you will receive a loan amount of $4,875.00 and will make 36 monthly payments of about $153.61 at a 5.99% APR. Total loan cost would be $5,529.88.

5K Funds Qualification

Qualifications & Flexibility - 0 / 5

Most personal loan lenders are pretty tight-lipped about minimum qualification requirements, and 5K Loans is especially so because qualification requirements will vary to some extent depending on which of its partners you work with. One of the advantages of working with a personal loan marketplace like 5K Loans is that it can pair you with lenders that are more likely to accept you based on the information you enter, which can save you time compared to getting quotes from a dozen different companies.
Personal Income Considered
Yes

5K Funds Cost of Loan

Costs, Interest Rates, Discounts & Fees - 0 / 5

Costs will also vary from lender to lender, so you won't find any hard numbers on 5K Funds' website. You'll have to wait until you're paired with one of its partners to dig into these details. It's a good idea to ask about origination fees, the APR, late fees, prepayment penalties, and anything else you could be charged for so you know what you're getting into.
APR Range
5.99% to 35.99%

5K Funds Reputation

Customer Service and Reputation - 0 / 5

Type of Institution
Marketplace
BBB Rating
D+
Number of BBB Positive Reviews
0
Number of BBB Negative Reviews
0
Trust Pilot Rating
3.8 out of 5
Date Collected
2020-04-27
Headquarters Address
7050 W. Palmetto Park Rd., #15-345, Boca Raton, FL, 33433
Homepage URL
https://www.5kfunds.com/

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Top Rated
Our Partner
  • Get personalized pre-qualified rates from multiple lenders.
  • 2 Minute Process
  • Loans from $600 - $200,000 
  • Rates from  6.94% - 35.99% APR
  • Loan terms of 1 - 7 years.
  • Rated A+ by the BBB
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