Peerform Personal Loans

Information verified correct on April 26th, 2017

Peerform p2p Loans logoApply for an unsecured loan with Peerform using a quick and simple online process and make payments easily

Peerform is a peer-to-peer lending platform that began operations in 2010, founded by Wall Street executives. It aims to provide personal loans to individuals quickly while also giving investors an opportunity to explore multiple investment alternatives. Since Peerform does not have to bear overhead costs linked with brick-and-mortar institutions it is able to pass on the savings to its clients.

This peer-to-peer lending platform provides personal loans for different purposes. You start by registering on the Peerform website. After reviewing your borrowing requirements you may be offered from multiple loan alternatives, and you can choose the one that suits you best.

Other personal loans you can compare

Rates last updated April 26th, 2017
Unfortunately, none of the personal loan providers have a loan for that credit score. It you are urgent need of a small loan, you might want to check out a short term loan.
Max. Loan Amount Minimum Credit Score Turnaround Time Requirements
SWIFT Personal Loans
Access multiple lenders with a 5-minute application for a cash advance on your paycheck.
$10,000 1-2 days You have a valid bank account, You have a job or regular source of income, You are a resident of the United States and You are 18 years of age or older Go to site More
NetCredit Personal Loan
You could borrow up to $10,000 and get an interest rate personalized to your credit score
$10,000 300 1 business day Varies based upon state of application Go to site More
Lending Club Personal Loan
Borrow up to $40,000 with rates from 5.99% to 35.89% APR based on your credit score.
$40,000 660 Varies You must be over 18 years of age, a permanent resident of the US or an American citizen and have a steady source of income. Go to site More
Prosper Personal Loan
Loans made simple.
$35,000 640 1-3 business days You are over 18 years of age, you are an American citizen or a permanent resident of the US, and you don’t have bad credit history. Go to site More
Avant - Personal Loan
Borrow up to $35,000 with APRs ranging from 9.95% – 36.00%
$35,000 660 1-2 business days You must have at least a fair credit score (580 or more). Showing proof of a steady income. You must be a US Resident over 18 years old. Go to site More

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Types of personal loans Peerform offers

Peerform lets you choose from different types of personal loans, including these:

  • Debt consolidation loans.
    One of the biggest problems with credit card debt is that you can end up paying large sums in interest charges. If you’re facing this problem you can consider getting a Peerform debt consolidation loan. Such a loan can help you save on interest charges, and you’ll only have one payment to worry about each month.
  • Wedding loans.
    Weddings are special and almost everyone wants perfection, but they can be costly. If you’re not sure how to arrange finances for that all-important day, a wedding loan through Peerform may fit the bill. You can use funds from this loan to pay for the venue, to buy a ring, to pay the caterers, and even to go on your honeymoon.
  • Home improvement loans.
    If you want to make some changes to your house but don’t have the money for them, a home improvement loan from Peerform can help. You can use the proceeds from the loan to prepare your home for sale, to modify your kitchen, to add a patio, or to undertake repairs.
  • Medical loans.
    Medical insurance providers tend not to cover elective procedures such as cosmetic surgeries, dental implants, laser vision correction, and infertility treatments. With funds from a Peerform medical loan, you can pay for just about any medical procedure.

Features that Peerform offers

If you’re considering getting a personal loan from Peerform you can expect the following:

  • No collateral. All Peerform personal loans are unsecured, so you don’t have to worry about providing any kind of collateral.
  • Fixed interest rate. Your personal loan attracts a fixed annual percentage rate (APR) that remains the same for the entire loan term. This can vary from 7.12% to 29.99% depending on your credit score.
  • Flexible loan amount and term. Depending on your requirement, you can apply for a loan for between $1,000 and $25,000. Loan term can extend up to three years.
  • Quick and easy application. The online application is easy to complete and takes no more than a few minutes, provided you have all the required information close at hand. You don’t have to pay any fee to apply.
  • Easy monthly payments. Monthly payments come from your linked bank account automatically, so you don’t have to worry about making late payments. You can make additional payments at any time, and paying the loan ahead of schedule does not attract any fees or penalties.
  • FICO score not the deciding factor. While Peerform takes a look at your FICO credit score before making its decision, it takes other factors into account as well. If you have a FICO score of 600 or more and have a steady source of income you can consider applying for a Peerform personal loan. Get your FICO score here.
  • Live chat. If you wish to find out about any aspect of Peerform personal loans you can visit its website and chat with a Peerform representative.

What other products does Peerform offer?

Peerform is open to accepting new investors and it lets them choose between whole loans and fractional loans. Whole loans are best suited for institutional investors, while individual investors can benefit through fractional loans. Through Peerform, investors get to diversify beyond traditional asset classes, and they also get the ability to customize their investments.

Peerform provides investors with a portfolio builder that lets them create tailor-made risk adjusted profiles. Its customization tool lets you set goals while also outlining how to go about investing so you can achieve optimum results.

Ready to apply?

Click on the “Go to Site” button if you want to apply for a Peerform personal loan. Before applying, establish if you meet the following eligibility criteria:

  • You’re at least 18 years old
  • You’re an American citizen or a permanent resident of the US
  • You have a steady source of income
  • Your FICO score is 600 or higher

To complete the application you have to provide some basic personal information:

  • Your name, home address, phone number, and email address
  • Your date of birth
  • Your annual income
  • Details from your driver’s license, military ID, passport, or state ID

Frequently asked questions

How do I verify my bank account?

  1. Start by clicking on “Add a bank account” located under your “To do” list in your account.
  2. Peerform will deposit a small amount (which they will withdraw shortly) within 1-2 business days,
  3. As soon as you receive this deposit on your online statement, log into your Peerform account and click on “Verify your bank account” located below your “To do” list.

How can I verify my income if I am self employed and do not receive traditional pay stubs?

You will need to provide a recent tax return along with 2 recent bank statements.

Can I postpone a payment?

You can postpone the payment for up to 10 days.  Make sure to contact customer support via email, phone, or chat about 3-4 business days before the scheduled payment.

Who can invest?

Only accredited investors can have a Peerform Investor Membership at this time.

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US Personal Loans Offers

Learn about our information service
Lending Club Personal Loan

Borrow up to $40,000 with rates from 5.99% to 35.89% APR based on your credit score.

SWIFT Personal Loans

Access multiple lenders with a 5-minute application for a cash advance on your paycheck.

An online loan matching service that connects you with lenders.

NetCredit Personal Loan

You could borrow up to $10,000 and get an interest rate personalized to your credit score