Gino Rodriguez, Writer
@gino_rodriguez
You will know if RISE approved you for a personal loan because you will receive an application decision via email. RISE may approve you as soon as the same day you apply, or 1 business day, and you can check your loan status online in the meantime.
If you get approved, you should receive the funds 7 - 10 days. Just keep in mind that approval for a RISE loan is never guaranteed.
Key Information About RISE Personal Loans
- Approval Timeline: 1 business day
- Approval Notification Method: Email
- Funding Timeline: 7 - 10 days
- How to Check Application Status: Online
- APRs: 60% - 299%
- Loan Amounts: $300 - $5,000
- Repayment Periods: up to 36 months depending on the state
- Origination Fee: None
- Credit Score Requirement: Not disclosed but known to target bad credit
For more information, check out the full RISE personal loan review on WalletHub.
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Personal loan companies may call your employer simply to verify that you are employed where you claim to be. This helps the company determine if you are actually eligible to receive a loan, as a big part of whether or not you can get a loan depends on your income. Not all personal loan companies will contact your employer, though, and if they do they will not tell the employer that it is in regard...
read full answer by Gino Rodriguez, WriterHow long does it take to get money from a RISE personal loan?
It takes 1 to 2 business days to get money from a RISE personal loan, in most cases. The RISE loan timeline includes around 1 business day to get approved for a RISE loan and another as soon as the next business day to receive the funds after approval. Keep in mind that this is a typical applicant’s experience, and in some cases it could take longer.
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Does a RISE personal loan affect your credit score?
Yes, a RISE personal loan does affect your credit score, both when you apply and during the entire time that you are paying the loan off. Initially, a RISE personal loan will affect your credit score in a negative way, but the long-term impact can be very positive, assuming you repay the loan on schedule.
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read full answer by Rick Bormin, Personal Loans ModeratorDid we answer your question?
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