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CircleBack Lending personal loan alternatives

This peer-to-peer lender is no more. Find out where you might want to look instead.

CircleBack Lending was an online peer-to-peer lender that provided personal loans to borrowers with good to excellent credit. It offered a simple application with funding as fast as the next business day. It also had rave reviews on Trustpilot before it shuttered its virtual doors in 2016. Here are five lenders you might want to look into instead.

Why doesn’t CircleBack Lending offer personal loans anymore?

CircleBack Lending stopped offering personal loans in October 2016 after the peer-to-peer platform ran out of funding. Media reported that it had lost more money than expected after several customers defaulted on their personal loans.

Since it shuttered, CircleBack Lending took down its website, though some customers have reported making repayments by auto debit or over the phone.

Don’t confuse CircleBack Lending with CircleBackLending.net

While the online peer-to-peer lender might have closed, an online short-term loan connection service with a similar name — CircleBackLending.net — is still around. Though it offers personal loans that might seem similar, its bread and butter are payday loans.

Short-term loans are designed for poor-credit borrowers who need emergency funds and often come with high rates. A loan from CircleBackLending.net might not be the best choice if you’re looking for the type of loan that CircleBack Lending offered.

3 CircleBack Lending alternatives

Looking for something like the personal loans CircleBack Lending offered? Check out these five providers.

For peer-funded loans: LendingClub

LendingClub personal loans

3.6 / 5 ★★★★★

Go to site
on Lending Club's secure site
LendingClub is another pioneering peer-to-peer lender that offers personal loans for borrowers with excellent credit. It's also one of the few peer-to-peer platforms that allows you to apply with a cosigner if you can't qualify for a competitive rate on your own. Its loans aren't available to residents of Iowa or Idaho, and it's also not fast — it can take as long as a week for investors to disburse your funds.
  • Not available in: Idaho, Iowa
Pros
  • Low minimum loan amount
  • Largest P2P platform in US
  • Accepts coapplicants
Cons
  • Higher rates than a direct lender
  • Low maximum loan amount
  • High minimum origination fee
Loan Amount$1,000 - $40,000
APR7.04% to 35.89%
Interest Rate TypeFixed
Min. Credit Score640
Turnaround TimeAs little as 4 days
Maximum Loan Term5 years
Minimum Loan Term3 years

For borrower perks: SoFi

SoFi personal loans

4.3 / 5 ★★★★★

Go to site
on SoFi's secure site
You might have heard of SoFi's student loan refinancing. But this direct online lender also offers personal loans built for borrowers with good or excellent credit who are building their careers. On top of offering competitive rates and no fees, SoFi borrowers can take advantage of several perks, including career coaching and an entrepreneur program. But SoFi personal loans can take as long as a month to process, and rates and loan amounts may vary by state.
  • Not available in: Mississippi, Vermont
Pros
  • Member perks
  • Low APrs starting at 4.99%
  • High maximum loan amount
Cons
  • Long turnaround
  • Loans start at $5,000
  • Won't send funds to creditors for debt consolidation
Loan Amount$5,000 - $100,000
APR4.99% to 19.63%
Interest Rate TypeFixed
Min. Credit Score680
Turnaround TimeUp to 30 days
Maximum Loan Term7 years
Minimum Loan Term2 years

For quickly comparing offers: Fiona

Fiona personal loans

4.25 / 5 ★★★★★

Go to site
on Fiona's secure site
Fiona is an online connection service that allows you to prequalify with multiple providers at once. It can be a good option for most types of borrowers if you're not sure where to start. Its partners offer a wide range of financing with options for different types of credit profiles. But there are some tradeoffs to using this service — such as sharing your information with its partner lenders. And where most personal loan providers require users to be over 18, Fiona's minimum age is 21.
  • Available in all states
Pros
  • Wide range of loan amounts
  • Accepts most credit profiles
  • Check rates without affecting credit
Cons
  • Shares information with partners
  • Must be over 21
  • Potentially long turnaround with some partners
Loan Amount$1,000 - $100,000
APR4.99% to 35.99%
Interest Rate TypeFixed
Min. Credit ScoreGood
Turnaround TimeVaries by lender
Maximum Loan Term7 years
Minimum Loan Term2 years

Compare more personal loan providers

Name Product Filter Values APR Min. Credit Score Loan Amount
BHG personal loans
Varies
700
$20,000 - $200,000
A highly-rated lender with quick turnaround and reliable customer service.
Credible personal loans
2.49% to 35.99%
Fair to excellent credit
$600 - $100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Best Egg personal loans
5.99% to 29.99%
600
$2,000 - $50,000
A prime online lending platform with multiple repayment methods.
PenFed Credit Union personal loans
5.99% to 17.99%
650
$600 - $50,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
SoFi personal loans
4.99% to 19.63%
680
$5,000 - $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
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Compare up to 4 providers

Bottom line

CircleBack Lending might not offer personal loans anymore, but that doesn’t mean you’re out of similar options. Not sure you want to go with any of these lenders? Check out our personal loans guide to compare even more personal loan providers and learn how it all works.

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