Pennie Financial Loans Review: Avoid This Misleading Company
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- Max. Loan Amount
- $100,000
- APR
- Starts at 5.99%
- Min. credit score
- No minimum
Our verdict
This company claims to be a loans marketplace but likely shares your info with debt relief partners instead.
Pennie Financial appears to be a loan connection service that matches potential borrowers with its lending partners. It claims to offer personal loans and debt consolidation loans up to $100,000, with rates starting as low as 5.99%. The company also says no minimum credit score is needed to qualify. But we can’t find any record online of anyone ever being offered a loan, much less getting approved for one. Plus, the BBB reviews are unanimously negative and mostly suggested that Pennie doesn’t offer loans — it just wants to get applicants into a debt settlement program. And, it has a very sketchy review history on Trustpilot.
The following pros and cons are based solely on what Pennie Financial reveals on its website.
Pros
-
Loans up to $100,000
-
Rates start at 5.99%
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Loan terms up to 7 years
Cons
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No contact information is given
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It’s not a direct lender
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Not available in all states
Is Pennie Financial legit?
Despite some deep digging, we cannot confirm that Pennie Financial is a legitimate loan marketplace. It claims to have been founded in 2022, but we can’t find much information about it — beyond its website — and it doesn’t give out any contact information.
It says it’s a loan marketplace, but based on the fine print, it merely takes your information and sells or shares it with third-party providers. In addition, we couldn’t find any reviews that show evidence of anyone getting an actual loan through it, instead reviews point to debt settlement programs.
Watch our video review of Pennie Financial:
Where Pennie Financial falls short
Where to begin? According to reviews on Trustpilot and third-party reviews, Pennie Financial promotes itself as a marketplace offering “income-based” personal loans and consolidation loans.
However, it’s really trying to connect you with a debt settlement program, which is very misleading to potential borrowers looking for a legitimate loan. Unfortunately, this kind of deception is all too common in this space.
What makes Pennie Financial shine?
There is nothing to recommend about Pennie Financial. If your credit isn’t the best, you may want to look into a lender such as Upstart, which considers any credit score and uses additional criteria to determine loan approval. You may also want to consider other options, such as cash advance apps — that don’t do credit checks at all — or other lenders that offer loans to borrowers with bad credit.
Pennie Financial personal loan details
| Minimum credit score/credit range | No minimum |
| APR | Starts at 5.99% |
| Loan amount | Up to $100,000 |
| Terms | Up to 7 years |
| Approval turnaround | As soon as the next day |
| Availability | Not available in: Connecticut, New Hampshire, Vermont, Washington |
| Fees | Undisclosed |
| Other fees | Undisclosed |
Pennie Financial contact info
| Phone number | Undisclosed |
| Customer service hours | Undisclosed |
| Undisclosed | |
| X, formerly Twiter | N/A |
| Pennie |
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How to qualify for Pennie Financial
The only qualification requirements Pennie reveals is that you need to be at least 18 years old and not reside in Connecticut, New Hampshire, Vermont or Washington to use its website. It also doesn’t accept active military members, which is another red flag because that usually means loan products violate the Military Lending Act (MLA).
How Pennie Financial compares to other lenders
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How we picked theseWhat is the Finder Score?
The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
Pennie Financial reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | N/A |
| BBB customer reviews | 1 out of 5 stars, based on 6 customer reviews |
| Trustpilot Score | 4.9 out of 5 stars, based on 2,120 customer reviews. |
| Customer reviews verified as of | 01 October 2025 |
Pennie Financial’s BBB website has unanimously negative reviews. Reviewers cite false advertising and bait-and-switch tactics, where the company says it offers loans but then tries to get people to sign up for debt relief programs. There are also complaints of excessive solicitation and the false claim that loan approval is based on your income, not your credit score.
What’s weirder? Back in April 2025 when we originally checked Trustpilot reviews for the company, it had 11 reviews that were also unanimously negative with customers mentioning the same issues as on BBB reviews, false advertising and never being able to get a loan. Fast forward to now, and suddenly it has 2,000+ five-star reviews, some appearing in real time as we checked.
Interestingly, many of these glowing reviews still reference debt relief products. Every single one has the “invited” badge, which Trustpilot indicates means they were submitted via invitations outside their usual review flow. In short, it looks like someone is heavily pushing positive reviews onto the platform, which is extremely sketchy.
What do people on Reddit say?
Frequently asked questions
Does Pennie offer loans?
No. Pennie doesn’t have loan products of any kind. It may have partners that offer different types of loans — or loans may just be a piece of the debt settlement services it partners with.
Will applying with Pennie Financial affect my credit score?
It might. Pennie says that applying only results in a soft credit check, which doesn’t hurt your score. But, in the fine print, it says that by submitting a loan request, among other things, you consent to the company “performing a credit check with TransUnion, Experian and Equifax.” Furthermore, some reviewers said that a hard credit check was performed even though they didn’t accept any offers.
Sources
Your reviews
Lacey Finder
Writer
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