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Reach Financial review

Reviews 827
Reach Financial
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Reach Financial
Reach Financial
Reviews 827
Danielle Greving
Jul. 24, 2022
4 min read
Danielle Greving author image
Reach Financial Summary
Reach Financial is a financial tech company that offers innovative personal loans designed to help people pay down debt faster. They offer unsecured loans issued either through FinWise Bank, a Utah chartered commercial bank, member FDIC or MetaBank® National Association, member FDIC. Their service comes with fixed rates, fast approvals, and no prepayment penalties. Reach Financial is great for those seeking an easy personal loan service.


  • Easy online application process
  • No prepayment penalties
  • Solid customer reputation


  • High maximum APR of 35.99%

Reach Financial Reach Financial Visit Site

Suitable for?

Reach Financial is a great option for anyone looking for quick, online access to personal loans. Once you apply online, Reach Financial  will send your funds to your chosen creditor as soon as the next business day. Reach Financial only offers unsecured personal loans, so those seeking secured loans will need to look elsewhere.

It’s also a suitable loan service for those with low-to-mid-range credit, as 600 is the minimum credit score to qualify for a loan. To qualify, you also need to have a valid bank account, a minimum income of $1,000 per month, and a valid social security number. It’s also great for those who are protective of their credit, as you can get a quote with a soft credit check that won’t harm your credit. 

Range of Loans on Offer

Reach Financial offers unsecured personal loans available in amounts ranging from $3,500 up to $40,000. You can get a loan with 24-60 month terms, with an APR ranging from 5.99% - 35.99% . You can customize your loan term for periods in between (one month increments) as well as payment date and frequency of payment. Origination fees range from 2 to 5%. Because the loans are unsecured, they don’t require collateral. 

Interest rates and potential loan terms vary depending on your qualifications and the amount of money you need. While Reach Financial doesn’t charge any prepayment fees, you will be required to pay a $15 fee for a late payment. 

Application Process & Requirements

To apply for a personal loan through Reach Financial, you’ll need to be 18 or older and have a minimum monthly income of $1,000. Fill out an application through the company’s website. After answering a few simple questions and providing some basic information, you’ll receive a qualifying rate. You can then browse plans and decide which one is right for you. 

Once you’ve chosen a plan, Reach Financial will send your funds to the creditor as soon as the next business day. While Reach Financial doesn’t have a mobile app, you can fill out the application from your desktop or mobile device in just a few minutes. 

APRs, Loan Amounts & Repayment Terms

Reach Financial offers fixed-rate APRs for personal loans ranging from 5.99% - 35.99% . You can get a loan for $3,500 to $40,000, with repayment terms available from 24-60 months. All personal loans are unsecured. 

Privacy & Security

Reach Financial is a safe and secure service to use. They have a score of 4.8/5.0 on TrustPilot out of 231 reviews. Additionally, they have an AAA+ rating by the Better Business Bureau and are BBB accredited. Reach Financial also has a score of 4.40/5.0 on Consumer Affairs. 

Reach Financial states that they follow “generally accepted industry standards” to protect your personal information. When you sign up for an email or contact Reach Financial with questions, they collect your contact information, including your name, email address, mailing address, and phone number. 

Help & Support

Reach Financial offers both phone and email support. Email support is available 24/7 at Phone support is available Monday-Friday, 9AM EST to 8PM EST at 800-606-8200.

How Reach Financial Compares

Reach FinancialUpstartSoFi
5.99% - 35.99%


Minimum credit score
Loan amounts
$3,500-$40,000$1,000-$50,000  $5,000-$100,000
Loan term

2 to 5 years

3 or 5 Years 2 to 7 years
Suitable for
Borrowers with low credit scores looking for a quick personal loan optionBorrowers with poor credit historyBorrowers with good credit scores looking to take out large loans


Question: What are the borrower criteria for Reach Financial?

Answer: To qualify for a loan through Reach Financial, you need to have a minimum credit score of 600, be at least 18 years old, and have a minimum monthly income of $1,000.

Question: How much money can I apply for through Reach Financial?

Answer: You can qualify for up to $40,000 in personal loans through Reach Financial. 

Question: How long is the application process? 

Answer: You can apply for a Reach Financial personal loan in as little as a few minutes. Once you’ve applied and chosen a loan, Reach Financial will send your funds to the creditor as soon as the next business day.

Question: How do I apply for a Reach Financial loan?

Answer: To apply for a loan, fill out the application on Reach Financial’s website. You’ll need to provide some basic information, including your name, address, credit score, employment status, income, living expenses, and how much money you want to borrow. 


Reach Financial is a loan service that offers unsecured personal loans for borrowers with a minimum credit score of 600 and a minimum monthly income of $1,000. While they don’t have a mobile app, their online application is simple and straightforward, and they will send your funds to the creditor as soon as the next business day. While the maximum APR is a little on the higher end, Reach Financial doesn’t charge any penalties for early payments, and could be a good choice for those with low credit scores or those who want a loan fast.

Physical Address

180 Maiden Lane, 28th Floor, New York New York 10038

Reach Financial Reach Financial Visit Site


All loans are subject to eligibility criteria and review of creditworthiness and history. Terms and conditions apply. All loans advertised are unsecured personal loans issued by either Metabank® National association, member FDIC, or FinWise Bank, a Utah chartered commercial bank, member FDIC, as creditor, on the Liberty Lending platform. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, and the loan term you select. Fixed Annual Percentage Rates (APR) range from 5.99% to 35.99%. You could receive a loan of $10,000 with an interest rate of 8.93%, an origination fee of $200, for an APR of 9.80%, which would result in total payment of $12,435 with 60 monthly payments of $207.20. Your actual rate may differ and depends on your credit history, loan amount, and term. Total approved loan amount reflects origination fee, which ranges from 0% to 5%. *Within 24 hours of your loan approval, loan proceeds will be available to pay the creditors named on your Truth-In-Lending Disclosure.

Danielle Greving author image
Written by
Danielle Greving
Danielle is a tech and finance writer with experience in personal finance, cryptocurrency and numerous SaaS companies. Her bylines can be found on MoneyTips, CoinMarketCap, GraniteShares and An avid traveler and former ESL teacher, Danielle's writing blends a wealth of technical and financial knowledge with simple and straightforward explanations for everyday readers.
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