Vouch is no longer funding loans. Find a lender like Vouch instead.
Vouch was a San Francisco-based lender that allowed borrowers to bring on multiple cosigners to qualify for more competitive rates. But it stopped issuing loans in June 2016 and is currently only servicing its old loans.
If you’re still in the market for a personal loan, these three lenders offer similar deals to Vouch – including an opportunity to apply with a cosigner. You may also want to explore more personal loan options to find a lender that works for you.
What happens when a lender goes out of business?
It depends on the lender. Generally, it stops issuing new loans but will continue to service the loans it has already extended. However, some lenders sell their loans to another company when they go out of business.
- Loan amounts: $1,000 to $40,000
- APR: 6.95% to 35.89%
- Terms: 3 to 5 years
- Eligibility: US citizen or permanent resident, verifiable bank account, steady source of income, ages 18+.
LendingClub was one of the first peer-to-peer lenders in the country. It’s an online platform that connects borrowers with investors to fund their loans. And it allows cosigners.
- Loan amounts: $1,500 to $20,000
- APR: 16.05 to 35.99%
- Terms: Typically from 2 to 5 years
- Eligibility: Established credit history, US citizen or permanent resident, age of majority in your state
OneMain Financial offers personal and car loans with fixed rates. However, there are some state-based restrictions on how much you can borrow and your interest rates. You can choose to receive your loan as a prepaid card or have it directly deposited into your bank account.
- Loan amounts: $10,000 to $40,000
- APR: 5.99% to 29.99%
- Terms: 2 to 5 years
- Eligibility: Must have a credit score of 620+, debt-to-income ratio of 40% or lower and annual income of at least $30,000.
FreedomPlus offers personal loans for a variety of uses, but you might want to take a closer look at this one if you’re consolidating debt. That’s because you can get a discount if you use at least half of your loan for debt consolidation. It’s not available to residents of all states, however.
Compare available personal loan options
Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Maximum APR is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. The lowest APR shown represents the 10% of loans with the most favorable APR. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000. Virginia: $2,600. Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: Florida: $8,000. Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. Texas: $8,000. West Virginia: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.