Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

3 alternatives to BorrowersFirst personal loans

Last updated:  

This lender may no longer be offering loans, but that doesn't mean you're out of options.

BorrowersFirst is no longer accepting loan applications. Click the button below to find another lender that can meet your needs.

$35,000

Max. Loan Amount

7.22% to 29.99%

APR

620

Min. Credit Score

Details

Product NameBorrowersFirst personal loans
Min. Loan Amount$2,500
Max. Loan Amount$35,000
APR7.22% to 29.99%
Interest Rate TypeVariable
Min. Credit Score620
Loan TermUp to 5 years

What was BorrowersFirst?

Founded in 2013, BorrowersFirst was an invite-only service that offered online personal loans with fixed interest rates. Its origination fee was built into the cost of the loan. And as long as you made timely payments, you didn’t have to worry about any hidden fees or costs.

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 still 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 didn’t adequately inform them of its termination. While its website is still up — and provides former borrowers with its partners’ contact info — the phone lines have been disconnected.

3 alternatives to BorrowersFirst

Looking for a simple online loan with a comparable lender? You might want to start by checking out these providers:

1. Upstart

Upstart considers your credit score alongside other factors like your level of education and GPA, making it a great option for recent college graduates. It’s a respected peer-to-peer lender and once approved, you could receive your loan as soon as the next business day.

But while Upstart allows you to borrow more than BorrowersFirst did, its interest rates are higher.

  • Loan amounts: to
  • APR: 7.98% to 35.99%
  • Term:
  • Eligibility:

Read our review of Upstart personal loans

2. Upgrade

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 improvements.

Like Upstart, its loan amounts are set higher than BorrowersFirst. And you’ll also see a lower starting interest rate if you’re a well-qualified borrower.

  • Loan amounts: to
  • APR:
  • Term:
  • Eligibility:

Read our review of Upgrade personal loans

3. SoFi

SoFi is a lender that offers quick personal financing combined with career and financial support. SoFi borrowers — called members — have access to unemployment protection, networking opportunities and even an entrepreneur program. It could be a great choice for a young professional who wants to become financially independent.

Not only does it have the longest loan terms of the lenders listed here — including BorrowersFirst — but it also offers the largest loans with some of the lowest rates.

  • Loan amounts: to
  • APR: Fixed rates of and variable rates of with autopay.
  • Term: 2 years to 7 years
  • Eligibility:

Read our review of SoFi personal loans

Want even more options? You can quickly compare lenders on the table below or check out our guide to personal loans.

Compare more personal loan options

Data indicated here is updated regularly
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible personal loans
4.99% to 35.99%
Fair to excellent credit
$100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Monevo personal loans
3.49% to 35.99%
None
$100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
Fiona personal loans
4.99% to 35.99%
Good
$100,000
Get loan offers from multiple lenders at once without affecting your credit score.
LendingTree personal loans
Starting from 2.49%
Good to excellent credit
$50,000
Receive up to five loan offers in just minutes through LendingTree's simple online form.
SoFi personal loans
5.99% to 18.28%
680
$100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
loading

Compare up to 4 providers

Bottom line

BorrowersFirst might no longer be around. But there are several other options that offer similar loans geared toward borrowers with average credit. You can compare even more lenders by visiting our guide to personal loans.

Frequently asked questions

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
Go to site