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Stilt Review

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Michael Graw
Michael Graw
May. 04, 20214 min read

Stilt summary

Stilt was founded to help immigrants and the underserved get the loans they need. The company works with borrowers who don’t have a social security number and who have little or no credit history. The company considers factors like your work history, education, and financial behavior to determine if you qualify. You don’t need a US citizen to cosign your loan. Stilt offers personal loans up to $35,000 and interest rates start at 7.99% APR.

Pros

  • No social security number needed
  • Does not require a cosigner
  • No prepayment penalty

Cons

  • Relatively high interest rates
  • Requires a US bank account

Stilt  at a Glance

Direct lender or marketplace?Direct lender
Loan typesPersonal loans
Loan amount$1,000-$35,000
Repayment terms6-36 months
APRFrom 7.99%
Suitable forImmigrants without a social security number

Stilt Stilt View Rates

Suitable For?

Stilt was created to help immigrants and the underserved to get personal loans. You don’t need a social security number to qualify, and you also don’t need a US citizen or permanent resident to cosign your loan. The only requirement is that you have a US bank account, and you can sign up for one through Stilt if needed. Stilt also doesn’t require a credit history.

Range of Loans on Offer

Stilt only offers unsecured personal loans. Loan amounts range from $1,000 to $35,000. The amount you can be approved for depends on a variety of factors including your employment status, employment history, education history, and credit history.

  • Personal loans up to $35,000
  • No social security number or credit history required
  • Interest rates from 7.99% APR
  • No prepayment penalty
  • Loan terms from 6 to 36 months

Application Process & Requirements

You can apply for a loan with Stilt online. You will need to provide personal information, information about your US immigration status and visa, and information about your financial and employment histories. Stilt also runs a soft credit check, even if you don’t have a social security number. The credit check will not impact your credit score.

Stilt typically reviews applications and provides a loan offer by email within 24 hours. You can sign all necessary paperwork to complete your loan online, and funds will be transferred to your bank account in 2-3 business days.

APRs, Loan Amounts & Repayment Terms

Stilt offers loans from $1,000 to $35,000 and terms from 6 to 36 months. The amount you can qualify for depends on your work history, financial history, and education. Interest rates start at 7.99% and the maximum rate varies by state. Stilt does not charge a prepayment penalty, so you’re free to pay off your loan early to save on interest payments.

Privacy & Security

Stilt encrypts all application data with SSL (Secure Socket Layer) encryption and stores it on PCI (Payment Card Industry) compliant servers. The company never sells your information and has a clear privacy policy describing how your information is shared with third parties.

Help & Support

Stilt’s customer support team is available by phone and email from 8am to 6pm (PT) Monday to Friday. The company has a detailed FAQs page where you can find more information about the application process and loan terms.

Phone: (415) 630-2323

Email: team@stilt.com

How Stilt Compares


StiltLightstream
APRFrom 7.99%4.49%-20.49%
Minimum credit scoreNone690
Loan amounts$1,000-$35,000$5,000-$100,000
Loan term6-36 months2-7 years
Suitable forImmigrants without a social security numberLow interest rates

Stilt stands out in that it doesn’t require you to have a minimum credit score or any credit history at all. It also doesn’t require you to have a social security number to apply. 

Stilt doesn’t offer the lowest interest rates for personal loans, but the company’s rates are competitive. The maximum loan term is much shorter than that of competitors, but the maximum amount you can borrow is comparable to other personal lenders.

FAQs

Q. Do I need a US citizen to cosign my loan?

A. No, you do not need a US citizen or permanent resident to cosign a loan from Stilt.

Q. How can I get a US bank account?

A. Stilt offers fee-free bank accounts that you can open without a social security number. You can apply for an account with Stilt online. 

Q. How do I make payments towards my Stilt loan?

A. You can manage your Stilt loan and make payments through your online account. Stilt recommends setting up autopay so that you never miss a payment.

Q. I already have a loan with Stilt. Can I apply for another?

A. If you already have a loan with Stilt, you must be more than halfway through repaying your loan to qualify for a second loan. You can only have up to two open loans with Stilt at a time.

Summary

Stilt offers personal loans for immigrants and the underserved who don’t have a social security number or credit history. The company offers loans up to $35,000 with interest rates starting at 7.99% APR. You can apply online and get a loan decision in as little as 24 hours.

Physical Address

Stilt, 404 Bryant St., San Francisco, CA 94107

Stilt Stilt View Rates

Michael Graw
Written byMichael Graw

Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.

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