• APR RANGE: 5.99% - 39.99%
  • REPAYMENT TERMS: Once/Twice a month
  • LOAN AMOUNT: $1,000 - $35,000
  • FUNDING TIME: 24 hours
  • LOAN TERMS: 61 days - 72 months
  • FEES: None

In-Depth 5k Funds Review - Services & Eligibility

  • YEARS IN BUSINESS: 9 years
  • APR RANGE: 5.99% - 39.99%
  • REPAYMENT TERMS: Once/Twice a month
  • LOAN AMOUNT: $1,000 - $35,000
  • FUNDING TIME: 24 hours
  • LOAN TERMS: 61 days - 72 months
  • FEES: None

Best For

Fair Loan Qualification Criteria


  • No collateral needed
  • Preapproval within minutes
  • Quick and easy online application
  • Rich network of personal loan providers


  • Educational resources are lacking
  • No customer support live chat function

5k Funds has been providing a free personal loan comparison service since 2012. During this time it has garnered an exceptional reputation that is only enhanced by its easy application process, fair loan qualification criteria, and flexible loan comparison service.

In this 5k Funds review, you’ll learn all about 5k Funds service, eligibility criteria, the initial application process, and 5k Funds relationships with banks, credit unions & non-banking financial institutions.

Let’s get to it!

What Do You Need to Know About 5k Funds?

Here are the must-know specifics about 5K Funds:

  • Loan amount, APR, and monthly payment

The expected loan amount when using 5k Funds’ services to scan the online marketplace ranges from $1,000 to $35,000 so you’re free to pick the amount you need. 5k Funds’ loans average between an annual percentage rate (APR) of around 5.99% to 35.99% depending on the lender. The monthly payment is an option with many lenders although you can pick and choose the monthly amount you’d be comfortable paying — and for how long.

  • Loan term repayment, fees, and penalties

Loan term repayment ranges from 61 days to 72 months depending on which installment loans you take out. Making use of the 5k Funds platform is completely free of charge. Fees and Penalties (origination fee; prepayment penalty, late payment penalty, returned payment fee) won’t be charged by 5k Funds but rather by the loan officer they connect you with.

  • Interests

5k Funds offers many different types of interests depending on the lender. It is able to connect you with providers of unsecured or secured personal loans depending on what your specific needs are and you can compare lenders to find the best conditions. In most instances, you can arrange a date for an automatic withdrawal of the repayment fee with the lender.

  • Terms, conditions, and privacy

There are no arbitration services and there are no prepayment penalties or hidden fee charges with 5k loans, however, you’ll have to check up on the policies of the specific lender you opt for. Therefore, be sure to read the fine print as documented in the 5k Funds’ Privacy Policy regarding what personal information the company collects, uses, stores, and shares.

  • Application process and funding time

With 5k Funds, you can obtain a range of financial products with personal loan features (mobile app, customer service via phone, no origination fee, etc.). The initial application approval time is fewer than 10 minutes as you are pre-approved during the application process. Finally, the typical funding time is 24 hours or one business day.

What Are 5k Funds’ Personal Loan Eligibility Criteria?

5k Funds customer reviews suggest that many people are left in disbelief at the vendor’s personal loan eligibility requirements — or lack thereof. The requirements for unsecured personal loans are pretty bare-boned and extremely fair to younger people or those who have just joined the workforce and don’t have a credit score quite yet.

  • Years of age: 18 years of age
  • Citizenship: US citizens only
  • Minimum credit score: There is no such requirement on the platform itself as your entire financial profile is reviewed as long as you have a steady stream of income your application will be considered. However, some of the lenders may require a certain credit score but even if you are on the low end, there are still ways to fix it.
  • Income threshold: No minimum income threshold specified
  • Minimum length of credit history: No minimum length of credit history specified
  • Bank account: You need to have an active bank account with direct deposit capabilities

How to Apply for a Personal Loan With 5k Funds?

If there’s one thing that reviews on 5K Funds have in common, it’s this: comparing personal loans offered by various loan institutions is a breeze. The entire process takes 10 minutes or less and you don’t need to submit any documentation nor disclose your credit score. Take a look at the 5k Funds application process review below and see for yourself.

  • Step 1. Go to www.5kfunds.com
  • Step 2. Select the loan amount you’d wish to apply for ($500 – $1,000 to $15,001 to $35,000)
  • Step 3. Enter personal details: first name, last name, zip code, and email address
  • Step 4. Confirm loan amount requested, term length, first and last names, and state whether or not you’re an active-duty military member.
  • Step 5. Enter employment information. You’ll be asked to state your income source (employment or benefits), employment duration, pay frequency (weekly, bi-weekly, monthly, or semi-monthly), your pay date, gross monthly income, employer name.
  • Step 6. Enter identity and bank information. You’ll need to provide your driver’s license or state ID number, social security number, ABA routing number, bank name, bank account number, whether or not the account has direct deposit functionality, length of account, and bank account type.
  • Step 7. Submit the online application form and set aside five minutes while the 5k Funds team verifies your application, accesses their lender database, confirms loan availability, and retrieves responses from their pool of 5K lenders.

Within just a few minutes, you’ll be presented with a list of the available loans that you pre-qualify for, and then it’s up to you to review the options, select the one that works best for you and begin the application process with the lender.

Although you aren’t required to submit any documentation in the early personal loan stages such as comparing the different offers, it’s a good idea to have certain documents on hand for easy reference.

According to any fast 5k loans review, it’s much better if you start the application process when you have on hand documents or information including your:

  • SSN
  • state ID number
  • driver’s license
  • employment information
  • bank account details

Privacy & Security Policy

5kfunds uses industry-standard security measures and protections to keep your data safe. All sensitive data is encrypted and the company is extremely transparent with what they do with the information it collects as well as how it is stored, used, and shared. Given the nature of what the company does, your personal information is often provided to members of the 5k Funds network of lenders to find the best loans.

Pros Cons
Costs nothing to make use of the service Educational resources are lacking
Quick and easy online application No customer support live chat function
Customer support is available via telephone and email F rating on BBB due to industry concerns
No collateral needed
Preapproval within minutes
A rich network of personal loan providers
Various types of interests and loan term options


If you want to explore other options, take a look at the competitor companies that offer personal loans as well.


Between LendingPoint and 5k Funds, the latter has a higher loan amount that borrowers can ask for. When it comes to APR, 5k Funds’ network of lenders has slightly higher rates than LendingPoint. What is also different is that 5k Funds has better loan terms, according to some 5kfunds.com reviews.


Oportun is a company that has been on the market longer than 5k Funds. Regardless of that, both companies have helped plenty of customers. One important difference between these two companies is that 5k Funds charges a bit lower interest rates, and borrowers can ask for larger loans, while Oportun is a splendid choice for borrowers who only need an amount of up to $10,000.

Wrap Up

After trying out the 5K Funds platform, we won’t be surprised if you never look for a loan elsewhere again. The 5k Funds interest rates, incredible lender network, quick and easy online application process, and user-friendly experience solidify this as a fantastic financial tool for anyone who wants to look for or apply for a personal loan. And that’s why you can find 5k Funds in our list of 2022’s top-rated personal loans.


Can I refinance my personal loan?

Absolutely. Simply look for new personal loans from banks, peer-to-peer lenders, or online direct lenders. To narrow down the search for installment loans we offer you the top ones for bad credit. Just bear in mind that the reason for refinancing your personal loan is to bring down your monthly payment amounts and to offer you more financial freedom.

What can I use a 5kfunds personal loan for?

Part of the reason why the reviews on 5k Funds are so positive is that you can use your personal loan for whatever you’d like. Use your 5k Funds personal loan for bad credit or to pay for your upcoming holiday — it’s entirely up to you.

However, if you’re struggling with bad credit you can always check our most demanded personal loans for bad credit or you can try your luck with Credit Saint’s credit repair.


Can I get a personal loan online?

Yes, many personal loan providers allow you to apply for personal loans online. According to fast 5K loans reviews, the entire process of 5kFunds is done online. Within just a few minutes you will be connected to various loan institutions which also allow you to complete most, if not all, of the application process online.

Who is 5k Funds personal loan best for?

Our 5k Funds review shows that because the company offers so many personal loans through its network, the loans will work for most people. If you’re in a rush or want to scope out what kind of loan — pay 5k day loans, secured personal loans, short-term loans, whatever! — you’re likely to qualify for, chances are that 5k funds has the solution.

Is 5k Funds safe?

Yes, it’s safe to use 5k Funds’ services. Namely, they use encryption tools to protect and secure the data that you provide in your application. Also, you’ll be glad to know that they store data responsibly.

Is 5k Funds legit?

Yes, 5k Funds is legit. Don’t believe us? Then take a look at the numerous 5k Funds reviews, and you’ll see that this company’s helped many people over the years.