As its name suggests, Peerform is a peer-to-peer lender. That means they don’t finance loans directly, but rather connect borrowers to investors while handling all of the processing. Peerform’s major requirements for approval include a FICO score of 600+, an SSN and an active bank account.
Peerform offers multiple types of loans: 3-year personal loans, 3-year debt-consolidation loans and 5-year debt consolidation loans. The range of APRs is 5.99% to 29.99%, though different loans have different minimums and maximums within that range. Peerform’s origination fee is 1% to 5% of the loan amount. You can find more information about Peerform’s terms and requirements below.
Peerform Loan Review Highlights
- APR: 5.99% - 29.99%
- Loan length: 3 or 5 years
- Loan size: $4,000 - $25,000
- Origination fee: 1% - 5%
- Pre-qualification: You can pre-qualify on Peerform’s website.
- Requirements: SSN, U.S. citizen or permanent resident, 18+ years old, bank account, live in one of the 45 states Peerform services.
- Customer satisfaction: Peerform has an A+ rating from the Better Business Bureau.
Read more to see how WalletHub rates Peerform in our three major categories: Terms, Requirements & Application, and Reviews & Transparency.
Peerform Ratings by Category
Terms: 3.8 / 5
Requirements & Application: 3.5 / 5
Reviews & Transparency: 3.5 / 5
Overall Score: 3.7 / 5
These scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.