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Possible Finance mobile installment loans review

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Possible Finance Mobile Installment Loans
Min. Amount
Max. Amount
Turnaround time
As fast as 1 business day


Borrow up to $500 with just a few swipes — but only for residents of 21 states.

Borrowers with less than perfect credit might find Possible Finance helpful. Its convenient app allows you to take out a short-term loan right from your smartphone. But it's not cheap, and only residents of 21 states can apply.


  • Repayments aligned with your pay day
  • No credit check
  • Can build your credit
  • Good customer service
  • Quick turnaround with Visa


  • Must have a checking account.
  • App may have technical problems
  • Not a payday advance app
  • Limited availability.

In this guide

  • Review
  • Details
    • Product details
  • Your reviews
  • Ask a question


Product details

Product Name Possible Finance Mobile Installment Loans
Min. Amount $50
Max. Amount $500
Loan Term 2 to 8 weeks
Loan Security Unsecured
Turnaround Time As fast as 1 business day
Costs Rates vary by state, though you’ll likely be charged around $15 or $20 per $100 borrowed.
Requirements Checking account with 3+ months of banking history, $750+ monthly income, live in eligible state, ages 18+

What is Possible Finance?

Possible Finance is an app that offers short-term installment loans of up to $500. Rates vary by state, though you’ll likely be charged around $15 or $20 per $100 borrowed. This works out to an APR of around 150% or 460%.
Every loan has the same two-month term: You’ll make four payments over eight weeks until your loan is paid off. And once it is, Possible Finance will report your repayments to two of the three major credit bureaus, helping you build your credit if you pay on time.

What states is Possible Finance available in?

Possible Finance offers loans to residents of 21 states:

  • Alabama
  • California
  • Delaware
  • Florida
  • Idaho
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Michigan
  • Missouri
  • Mississippi
  • Ohio
  • Oklahoma
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Washington

But it’s working on adding more states to its list. Until then, you can compare more short-term loan options from similar providers.

What are the benefits of borrowing from Possible Finance?

An installment loan from Possible Finance comes with a few benefits:

  • Repayments aligned with your payday. Possible Finance schedules your four repayments on your paydays to help you avoid defaulting.
  • No credit check. You don’t need to have good credit to qualify for an installment loan with Possible Finance — and you won’t need to worry about your score taking a hit when you apply.
  • Can build your credit. Possible Finance reports repayments to two of the three major credit bureaus to help build your credit. However, this can also have a negative impact on your score if you make a late payment or default on your loan.
  • Good customer service. Many borrowers have left positive reviews for Possible Finance. And even if the comment is negative, Possible Finance responds to customer complaints and provides polite explanations to help resolve issues.
  • Quick turnaround with Visa. If you have a Visa debit card, you may be able to get your loan funds on the same day you’re approved.

What to watch out for

Consider these potential drawbacks before borrowing from Positive Finance:

  • Must have a checking account. You must have an active checking account that’s received regular income deposits for the past three months to qualify. Possible Finance doesn’t work with prepaid debit cards, credit cards or PayPal.
  • App may have technical problems. Some borrowers complained about glitches with the app, meaning you might need to get on the phone with customer support for help.
  • Not a payday advance app. Although you’ll be downloading an app, Possible Finance doesn’t issue advances on your paycheck. It’s still a short-term loan, and you’ll still have to pay interest on what you borrow.
  • Limited availability. Possible Finance installment loans are only available in 21 states, though you can still download the app and get added to its waitlist if you live outside its service area.

Compare short-term loans and alternatives

Name Product Filter Values Loan amount Turnaround time Requirements
Finder Score: 4.7 / 5: ★★★★★
Up to $750 per pay period, but only $100 per day
1 to 3 business days or instant for a fee
Direct deposit sent to a checking account, a regular pay schedule, a fixed work location or an online timekeeping system at work
No mandatory fees, no interest and no credit checks. Subject to EarnIn terms & conditions.
Chime SpotMe®
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Chime SpotMe®
Up to $200
Qualifying $200 direct deposits into Chime checking account each month. Chime debit or Credit Builder card.
Access fee-free overdrafts up to $200 when eligible. Plus get your paycheck up to 2 days early with direct deposit. See Chime terms and conditions.
Not rated yet
Based on the amount of accrued PTO
2 to 5 days
18+ years of age, live in eligible state, have W2 job with salary of $30k+, have PTO days accrued
Tap your unused PTO for a cash advance so you can access that money early. Available in: CO, FL, IL, MA, NY, NJ, TX, VA, OR, AR, NE, TN, ME, CT, WV
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Finder Score: 4.1 / 5: ★★★★★
Up to $250
3 to 4 days standard transfer. Same day with $3.99 to $9.99 express fee.
Not stated
Automatically monitor your spending plus access cash advances up to $100 at a time.
Dave ExtraCash
Finder Score: 4.2 / 5: ★★★★★
Dave ExtraCash
Up to $500
Up to 3 business days or instant for a fee
At least two direct deposit paychecks to your bank account from your employer, extra money in your bank account
Borrow up to $100 to avoid hefty overdraft fees.
Finder Score: 4.2 / 5: ★★★★★
$50 to $250
2 to 3 business days or within 20 minutes with Express Delivery fee
Bank account must have at least 60 days of activity, Balance must be above $0 and have an average minimum balance on pay day
Have up to $250 automatically deposited into your account — for a $8.99 membership fee.
LendYou Short-term Loans
Finder Score: 2.5 / 5: ★★★★★
LendYou Short-term Loans
Up to $1,000 for payday loans and up to $5,000 for installment loans
1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Fast5kLoans Short-term Loans Connection Service
Finder Score: 0.2 / 5: ★★★★★
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
As soon as the next business day
Regular source of income, Verifiable bank account, US citizen, Ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.

Is it safe to apply for a loan from Possible Finance?

In general, yes — Possible Finance offers a secure app and industry-standard privacy policy. While you need to connect your bank account to apply for a loan, this is done through Plaid, an encrypted service that doesn’t store your information.
If you decide you no longer want to use Possible Finance, you can unlink your banking details and delete your account — but it may retain some personally identifiable information for legal and security reasons.

Possible Finance reviews and complaints

BBB accreditedYes
BBB ratingB
BBB customer reviews4.51 out of 5 stars, based on 340 customer reviews
BBB customer complaints59
Trustpilot score4.5 out of 5, based on 689 customer reviews
AppStore score4.8 out of 5 stars, based on 104 customer reviews
Google Play score4 out of 5 stars, based on 50,600 customer reviews
Customer reviews verified as of19 May 2024
Possible Finance gets positive reviews on the Better Business Bureau (BBB), Google Play and the App Store. Most customers seem happy with the lender’s quick service and manageable loan repayments. They also like that they can use this loan to boost their credit score by making on-time payments. A few borrowers complained of tech glitches with the app and trouble submitting an application. However, Possible Finance’s customer service team replied to most of these comments to help troubleshoot issues.

Am I eligible?

To be eligible for an installment loan from Possible Finance, you’ll need to meet the following requirements:

  • Checking account with at least three months of banking history
  • Regular income of at least $750 per month is ideal
  • Live in a state serviced by Possible Finance
  • At least 18 years old

Possible Finance doesn’t support Chime Bank, Simple Bank, PayPal or prepaid debit cards. If you receive your income through one of these, you won’t be eligible for an installment loan.

How do I apply?

You can apply for a loan through Possible Finance by downloading the app from the App Store or Google Play. Then follow these steps:

  1. Log in through your Facebook, Google or Microsoft account.
  2. Select the state you live in. If Possible Finance isn’t available, you’ll be added to the mailing list for updates.
  3. Select how much you want to borrow. Possible Finance will display the fees you’ll pay and your biweekly payment amount.
  4. Take a picture of the front and back of your photo ID. You can also enter these details manually.
  5. Enter your Social Security number, take a picture of yourself and link your bank account.
  6. Confirm your details and click Submit application.

You’ll receive a notification about the status of your application from the app within 24 hours. You have up to three days to accept your loan if you’re approved. Otherwise, you can reapply after three days.
If you have a Visa debit card that’s supported by the app, you might be able to receive your money the same day you’re approved. Otherwise, you’ll receive your funds the next business day if you accept your loan before 2 p.m. PT. Or else in two business days if you accept your loan any time after that.

What documents do I need to apply?

When you create an account with Possible Finance, you need the following pieces of information ready:

  • Driver’s license or state-issued ID
  • Social Security number
  • Bank account login details

I got the installment loan. Now what?

It’s time to start thinking about repayments. Possible Finance syncs your repayment schedule with your paydays — with your first payment due approximately two weeks after you receive your funds. It automatically withdraws repayments from your bank account on each due date, so you don’t need to worry about manually making them.
While Possible Finance doesn’t charge any late fees itself, you could be responsible for overdraft fees from your bank if you don’t have enough funds to make a repayment. And any payment that’s more than 30 days late will be reported to the credit bureaus — which could lower your score.
If you’re unable to make a payment, contact Possible Finance as soon as possible. You might be able to sign up for an alternative payment plan and push back your repayment due date by 30 days.

Bottom line

Possible Finance is a convenient option when you’re looking to borrow funds and don’t have the credit to qualify for a traditional personal loan. But it doesn’t come cheap. And you need to live in one of the 21 states it services to qualify.
You can see how it compares to the other companies on our best cash advance apps page.

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W Rob

March 03, 2020

Why do they need my bank password and login information? Makes me leary



March 04, 2020

Hi W,

Thanks for your comment and I hope you are doing well. I understand you are quite skeptical of giving out your login information and bank details to Possible Finance. This is completely understandable. Typically, lenders require this information to check your capacity to repay the loan. As it says on the Possible Finance website, during the application process, they use the connection with your bank account to verify the account currently receives income and has an income history. You’ll be asked to log in with their partner, Plaid. They ask you to log in with your bank username and password for your convenience; so you don’t have to track down bank account and routing numbers. Once approved, they use the connection with your bank to send money and receive payments.

Hope this helps and feel free to reach out to us again for further assistance.



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