Personal loans for up to $35,000 from this new online lender.
BorrowersFirst is no longer accepting loan applications. Click the button below to find another lender that can meet your needs.
|Product Name||BorrowersFirst Personal Loan|
|Min Loan Amount||$2,500|
|Max. Loan Amount||$35,000|
|Interest Rate Type||Variable|
|Maximum Loan Term||5 years|
- Be at least 18 (or 19 in Alabama)
- Be a US citizen or permanent resident
- Have a good credit score
- Must have sufficient income for repayment
What is BorrowersFirst?
Founded in 2013, BorrowersFirst used to offer online personal loans with fixed interest rates that make for reliable repayments from one month to the next. Its origination fee was built into the cost of the loan. And as long as you made timely payments, you don’t have to worry about any hidden fees or costs.
Currently It’s currently not accepting new applications. Previously, BorrowersFirst was invite-only, so you could only apply if you had an offer code.
When did BorrowersFirst stop offering personal loans?
BorrowersFirst stopped offering personal loans in October 2017. After it folded, its partners took over the responsibility of managing loans that were being paid off.
It claims to have sent out letters to current borrowers before the company shut down. But some customers have complained that it did not adequately informing customers. Its website is still up but the phone lines are disconnected. Its website says that it can no longer provide new information to current customers.
Instead, you should contact one of its managing partners to get the information you need. Who you contact depends on when your loan was issued:
- Loans disbursed before 2017: Email firstname.lastname@example.org or call (888) 201-6952.
- Loans disbursed after 2017: Call (800) 789-8001.
Alternatives to BorrowersFirst
Looking for a simple online loan with a comparable lender. You might want to start by checking out these providers:
Your credit score isn’t the only thing that counts when you apply for a loan with Upstart. This peer-to-peer lender considers factors like your level of education and GPA, making it a great option for recent college graduates. Once approved, you could get funded the next day.
- Loan amounts: $1,000 to $50,000
- APR: 8.36%–29.99%
- Term: 3 or 5 years
- Eligibility: Must have good to excellent credit and be at least 18 and a US citizen or permanent resident.
Upgrade is one of the first lenders to use blockchain technology to make sure your application is quick and secure. It also recently started offering personal lines of credit, ideal for ongoing projects like home improvement.
- Loan amounts: $1,000 to $50,000
- APR: 6.99%-35.97%
- Term: 36 months or 60 months
- Eligibility: Must be a US citizen or permanent resident, 18 or older, with a verifiable bank account and email address. Applicants must not reside in CT, CO, IA, MD, VT, and WV.
SoFi is a lender that offers quick personal financing combined with career and financial support. SoFi borrowers — called members — can have access to unemployment protection, networking opportunities and even an entrepreneur program. It could be a great choice for the young professional that wants to become financially independent.
- Loan amounts: $5,000 to $100,000
- APR: Fixed rates 6.990% – 14.865% Variable rates 6.255% – 12.555% with autopay.
- Term: 3–7 years
- Eligibility: You must be a U.S. citizen or permanent resident 18 years or older.
Want even more options? You can quickly compare on the table below or check out our personal loans page.