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ForwardLend Personal Loans Review

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ForwardLend is a personal and business loan marketplace that pairs consumers with lending companies that are suitable for their needs and situation.

The business is located in Los Angeles.
 
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How is ForwardLend rated?

Breakdown

0.0/5
Flexibility
0.0/5
Interest Rates
0.0/5
Discounts & Fees
0.0/5
Customer Service and Reputation

Overall Rating: 3.2 / 5 (Very good)

ForwardLend is not a lender itself, rather an operator of a network of loan providers.

Evaluating personal loan marketplaces is inherently difficult, since they themselves do not control loan qualifications, terms, or costs.

And as is the case with several other personal loan marketplaces, evaluating ForwardLend is made especially difficult by the lack of information about its ownership.

However, based on what information is available, it appears that the company is on par with many of its industry competitors.

ForwardLend Loan Specifics

Loan Specifics - 4 / 5

ForwardLend can provide loan amounts of $1,000 - $40,000 for term lengths of 3 months to 7 years. The company partners with such trusted affiliates as SoFi, Prosper, and FreedomPlus.

Loan specifics are determined by the lenders themselves and not by ForwardLend.

As with any major financial transaction, consumers should educate themselves thoroughly and proceed cautiously.
Loan Minimum
$1,000.00
Loan Maximum
$40,000
Term Length
3 months - 7 years
Direct Deposit
Yes
Disbursement Time
Soon as next business day

Representative Loan Sample

A $10,000 loan with a 24 month loan term, you would have a monthly payment of up to $590.42. Your total repayment amount would be up to $14,170.08.

ForwardLend Qualification

Qualifications & Flexibility - 4 / 5

Each lender ForwardLend partners with has its own qualification guidelines.

Questions about how those lenders go about qualifying borrowers should be directed to the lenders themselves.
Minimum FICO Score
Depends on lender
Debt to Income Ratio
Depends on lender

ForwardLend Cost of Loan

Costs, Interest Rates, Discounts & Fees - 3.5 / 5

Questions about interest rates, fees, and penalties are important to ask.

ForwardLend, however, does not make loans directly, so such questions should be directed toward whatever lending company ForwardLend recommends for you.

As a ballpark figure though, ForwardLend offers APRs on its personal loans anywhere between 4.84% - 35.99%.

This is the standard range for today's personal loan industry.
APR Range
4.84% - 35.99%
Origination Fee
Depends on lender
Missed Payment Penalty
Depends on lender

ForwardLend Reputation

Customer Service and Reputation - 4 / 5

No direct reputational data is available about ForwardLend. The business does not disclose its corporate identity.

It appears to be affiliated with similar companies called Loanin and LoanStart. In any event, the name ForwardLend does not show up on either the BBB or the Trustpilot websites.

However, the company does publish some very helpful cautionary advice to prospective borrowers--something that inspires confidence in the business's overall view of consumers as educated partners.
Headquarters Address
11835 West Olympic Blvd., Suite 1090, Los Angeles, CA, 90064

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Customer Comments & Reviews

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L
Lu
9/15/2018
Have spammed my under 18 daughter who lives in Ireland; 21 unsolicited emails within 1 hour.

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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