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$25,000
Max. Loan Amount
7.99% to 15.99%
APR
Not required
Min. Credit Score
Product Name | Stilt personal loans |
---|---|
Min. Loan Amount | $1,000 |
Max. Loan Amount | $25,000 |
APR | 7.99% to 15.99% |
Interest Rate Type | Fixed |
Min. Credit Score | Not required |
Loan Term | 6 months to 3 years |
Turnaround Time | 2 to 3 business days |
Review by
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Stilt personal loans are designed with nonresident workers and new immigrants in mind. You don’t need a green card or a Social Security number to apply. Instead, it relies on aspects of your personal financial history other than your credit rating when underwriting your loan. Rates are capped at 15.99%, which is relatively low compared to other lenders that offer loans with APRs as high as 36%.
But it only works with residents of 16 states. And you need to physically be in the US and have a US bank account to qualify. Another downside? Its terms are capped at three years, which could make for high repayments if you take out a large loan.
Not sure Stilt is right for you? Compare other lenders before you apply.
Yes, Stilt is a legitimate online lender. Its website is secured by Secure Sockets Layer (SSL) certificate technology, and it follows other industry-standard security practices.
It also has an easily accessible privacy policy explaining how any information you submit is stored and used. You can also easily contact Stilt by email, online chat using its website, over the phone or through social media.
Stilt offers loans with APRs that range from 7.99% to 15.99% — a relatively low maximum compared to some alternative lenders that don’t require US citizenship or permanent residence. It also doesn’t charge an origination fee, while many other online lenders do.
To see how much you might make in repayments each month, enter the loan amount, term in years and interest rate in the calculator.
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Stilt doesn’t only consider your income and credit score. It also considers your education, employment and financial behavior on the whole.
If you have a full-time job or the offer of one, it will work in your favor when it comes to getting a good rate. How you spend your money — specifically if you show responsibility from month to month — will also help.
While it still uses a soft credit check, it will have much less of an impact compared to whether you have an education, job or job offer and how you manage your money.
To be eligible for a Stilt personal loan, you must meet the following criteria:
Stilt personal loans are available in the following states:
Before you apply with Stilt consider all of what it has to offer — and what it might be missing for you.
Compare Stilt against other personal loan providers by entering your credit score and state. These lenders have different requirements — including residency requirements — so be sure to check that you meet them before applying.
BBB accredited | No |
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BBB rating | A+ |
BBB customer reviews | 1 out of 5 stars, based on 1 customer reviews |
Trustpilot Score | 4.7 out of 5 stars, based on 102 customer reviews |
Customer reviews verified as of | 19 October 2020 |
For the most part, customers seem happy with Stilt’s low rates, quick funding — in just two to three days — and easy application. Others highlight Stilt’s helpful customer service representatives and transparent terms.
You can apply for a Stilt personal loan online. Follow these steps to get started:
All non-US citizens or permanent residents must be prepared to provide:
After you submit your application, you should hear back from a loan specialist in 24 hours with next steps. You might be asked to provide recent bank statements and other documentation, depending on your application.
Stilt might ask to connect to your bank account so it can access information about your past transactions. This gives its underwriting team another way to evaluate your past financial habits and could help you qualify for a larger loan amount or more competitive rates.
If approved, you should receive your funds in your bank account two to three business days after signing your loan documents.
Since having a credit score isn’t a requirement — you need a Social Security number for that — Stilt might consider the following when determining your rates:
Stilt’s personal loans come with monthly repayments with terms up to three years. You have a few ways to make repayments, including by check, bank transfer or online.
Stilt doesn’t have an autopay option, but once you set up your bank account for online payment, making additional payments is relatively painless. You can even set up payments for a future date.
Since Stilt doesn’t have any prepayment penalties, try repaying your loan as quickly as possible to save on interest. If you notice anything wrong with your account or have any questions, contact customer service as soon as possible.
Stilt, a San Francisco-based fintech company, provides a variety of unsecured loans and other services to nonresidents legally working in 16 US states:
Explore other borrowing options as a nonresident and compare your options.