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Stilt personal loans for nonresidents review

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No green card? You could still qualify for a personal loan.

  • Best for nonresident workers and new immigrants.
  • Pick something else if you don't live in one of the 16 states it lends in.

$25,000

Max. Loan Amount

7.99% to 15.99%

APR

Not required

Min. Credit Score

Details

Product NameStilt personal loans
Min. Loan Amount$1,000
Max. Loan Amount$25,000
APR7.99% to 15.99%
Interest Rate TypeFixed
Min. Credit ScoreNot required
Loan Term6 months to 3 years
Turnaround Time2 to 3 business days
Check my rate

Expert review

Anna Serio

Review by


Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 950 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.

Expert review

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.

Is Stilt legit?

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.

How much will this loan cost me?

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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How pricing works

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.

What do I need to qualify?

To be eligible for a Stilt personal loan, you must meet the following criteria:

  • Physically be in the US
  • Have a US phone number
  • US bank account holder
  • Live in an eligible state and have a physical address — not a PO Box
  • Hold one of the following visas:
    • F-1 and OPT: Student visa for full-time students that are allowed to temporarily work in the US.
    • H-1B: Specialty worker visa.
    • H-4: Visa for family members of an H-1B Visa holder
    • O-1: Individuals with extraordinary ability or achievement work visa.
    • L-1: Intracompany transferee work visa.
    • TN: NAFTA professional visa.
    • J-1: Exchange visitor visa for work- or study-exchange program participants.
    • DACA: Visa for undocumented immigrants who entered the country as a minor.

What states does Stilt lend in?

Stilt personal loans are available in the following states:

  • Arizona
  • California
  • Florida
  • Georgia
  • Illinois
  • Massachusetts
  • Michigan
  • New Jersey
  • New York
  • Ohio
  • Pennsylvania
  • Texas
  • Utah
  • Virginia
  • Washington
  • Wisconsin

Pros and cons

Before you apply with Stilt consider all of what it has to offer — and what it might be missing for you.

Pros

  • No green card necessary
  • No credit score required
  • Excellent customer service

Cons

  • Limited availability
  • Can’t apply with a cosigner
  • Maximum term of just 36 months

Compare personal loans from top online lenders

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.

Data indicated here is updated regularly
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible personal loans
4.99% to 35.99%
Fair to excellent credit
$100,000
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Monevo personal loans
3.49% to 35.99%
None
$100,000
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Fiona personal loans
4.99% to 35.99%
Good
$100,000
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Compare up to 4 providers

Stilt reviews and complaints

BBB accreditedNo
BBB ratingA+
BBB customer reviews1 out of 5 stars, based on 1 customer reviews
Trustpilot score4.7 out of 5 stars, based on 102 customer reviews
Customer reviews verified as of19 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.

How do I apply?

You can apply for a Stilt personal loan online. Follow these steps to get started:

  1. Click Check my rate on this page or go to Stilt’s website and fill out the required fields before clicking Get started.
  2. If you meet Stilt’s basic eligibility requirements, a representative will contact you and invite you to apply.
  3. Once you submit your application, Stilt does a soft credit pull if you have a Social Security number and goes over your finances, then gets in touch for a quick verification call to make sure your information is correct.
  4. If you’re approved, Stilt will send you an offer. Carefully read your loan terms and conditions before signing. Stilt will then do a hard credit inquiry, which may affect your credit score.
  5. Your funds will be disbursed to your bank account.

What documents do I need to apply?

All non-US citizens or permanent residents must be prepared to provide:

  • Copy of your passport
  • Copy of your visa
  • I-20 documents — if you’re a student

What happens after I apply?

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.

How does Stilt evaluate applications if it doesn’t check credit?

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:

  • Education and work experience. Stilt looks at your work history, level of education and your GPA if you’re still in school.
  • Financial behavior. Similar to a credit check, Stilt looks at your debit and credit accounts to see how you handle your personal finances.
  • Derogatory fees. If you have any late fees, overdraft or nonsufficient funds fees regularly taken out of any of your bank accounts, it could hurt your application.
  • Defaults, collections or bankruptcies. If you’ve defaulted on a large debt, it could have a negative effect on your application.
  • Accuracy of application. Make sure to reread your application a few times before submitting it. It could hurt you if its underwriters find inaccuracies.

How do repayments work with Stilt?

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.

What other types of loans does Stilt offer?

Stilt, a San Francisco-based fintech company, provides a variety of unsecured loans and other services to nonresidents legally working in 16 US states:

  • Student loan refinancing. Students on an F-1 visa about to graduate with a job offer can apply to refinance their student loans, even if they originated in another country.
  • Student loans. Stilt offers private loans to students on F-1 and OPT visas who are working part-time, though it isn’t advertised on its website yet. The customer service representative we spoke with told us Stilt was still working out some of its features.
  • Credit-building tool. This free service isn’t a loan, but it can help you build credit. Just sign up, register some of your monthly bills with Stilt and provide your bank account information. Stilt takes care of paying your bills by withdrawing the money from your account and reporting the payment to credit bureaus.

Explore other borrowing options as a nonresident and compare your options.

Frequently asked questions

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6 Comments

  1. Default Gravatar
    Jsy
    July 16, 2018

    If if I get rejected with stilt when can u reapply?

    • Default Gravatar
      joelmarcelo
      July 17, 2018

      Hi Jsy,

      Thanks for leaving a question on finder.

      If you get rejected by Stilt, you’re going to know why — the company sends you a letter detailing why it denied you a loan. You can still reapply after a while but make sure you have resolved the reasons you were rejected before to get approved. You can always compare from our list of personal loan providers by clicking HERE so you can weigh your options.

      Cheers,
      Joel

  2. Default Gravatar
    Nathan
    April 1, 2018

    Working visa…C1 D…working cruise ship..can we avail loan?

    • Avatarfinder Customer Care
      Joshua
      April 1, 2018

      Hi Nathan,

      Thanks for getting in touch with finder.

      If you wish to apply for a loan, you may do so even if you are on a working visa. We have a guide that helps you know more about how to get a loan as a nonresident in the United States. On that page, you will see a table that allows you to conveniently compare your options. Once you find the right one for you, click on the “Go to site” green button to learn more or initiate your application.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  3. Default Gravatar
    Sara
    March 20, 2018

    Why do they ask for username and password for bank account? and ask for a verification code too.

    • Avatarfinder Customer Care
      Anna
      March 21, 2018

      Hi Sara,

      Thanks for your comment! Stilt might ask you for information that allows it connect to your bank account if you’re not a US citizen and have limited credit history. It uses this information to access read-only bank statements to get a better idea of your financial behavior. Allowing it to connect with your bank could potentially help you qualify for a larger loan and more competitive rates if you don’t have a strong credit history.

      This shouldn’t involve sharing your username and password, however, and it doesn’t give Stilt permission to withdraw funds from your account or make any other changes.

      If you think you’ve been asked for your login credentials, reach out to Stilt’s customer service line for clarification. If you’re still not comfortable with sharing the information Stilt requires, you might want to check out our personal loans guide for general information on loans, or our nonresidents loan guide for information on getting a loan without a green card.

      Thanks,

      Anna

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