Reach Financial summary
- Easy online application process
- No prepayment penalties
- Solid customer reputation
- High maximum APR of 35.99%
Variety of loan types
Offers most loan types
Good online resources but no mobile app
Customer services and support
Multiple ways of reaching lender, wide range of hours
Loan amount range
Loan amount up to $40K
Loan terms up to 60 months
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 firstname.lastname@example.org. Phone support is available Monday-Friday, 9AM EST to 8PM EST at 800-606-8200.
How Reach Financial Compares
|APR||5.99% - 35.99%
|Minimum credit score||600||620||680|
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 option||Borrowers with poor credit history||Borrowers 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.
180 Maiden Lane, 28th Floor, New York New York 10038
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.