Vivaloan review: A personal loan marketplace for a range of credit profiles

Young man at home looking up Vivaloan on his digital tabletImage: Young man at home looking up Vivaloan on his digital tablet

In a Nutshell

Vivaloan is an online personal loan marketplace that offers to connect people of all credit profiles with lenders. But be careful: You won’t have any idea of possible interest rates or other loan terms until you get matched up with a lender.
Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.


  • All credit profiles considered
  • Loan amounts up to $15,000


  • No upfront info on the range of interest rates that Vivaloan lenders offer
  • Some applicants may only be offered payday loans
  • Not available in all states

What is Vivaloan?

Vivaloan is a personal loan marketplace that partners with a variety of lenders to provide loan options in amounts ranging from $100 to $15,000. Vivaloan is not a lender and does not make loans itself.

Loans for a range of credit profiles

On its website, Vivaloan says its lenders consider a range of criteria as part of the approval process. This means that if you’ve had trouble qualifying for a loan in the past because of poor credit or other reasons, it’s possible you’ll get a different answer from a lender through Vivaloan.

Just be aware that while you may get connected with a lender despite having rough credit, you’ll want to review the loan terms carefully. The Vivaloan site gives no info upfront about the range of APRs offered by its lending partners — but there are signs that some interest rates could be very high.

Multiple loan options

Vivaloan lenders offer different kinds of loans, including installment loans and a cash-advance, “short-term loan” option that’s essentially a payday loan.

Before you decide whether to apply through Vivaloan, consider the funding you need, how much you can afford to pay back and how quickly you can repay the loan. If you wind up being offered a payday loan, for example, it may provide a quick cash infusion — but the high APRs associated with payday loans can lead you deeper and deeper into debt.

If you qualify, an installment loan may be a better option because they typically come with predictable monthly payments and a fixed interest rate. Just keep in mind that the longer the loan repayment term is, the more interest you end up paying over the life of the loan.

How does Vivaloan work?

As long as you’re at least 18 years old and can prove that you have regular income, you meet Vivaloan’s minimum requirements to be connected with a personal loan lender.  

Here are a few things you should know before using Vivaloan.

Multistep application process

Look out: You’ll actually have to go through two steps to apply. In the first step, you fill out a form online giving a bunch of info to Vivaloan that it’ll use to try to match you with potential lenders and determine your potential loan amount.  

While it’s unclear whether Vivaloan performs a hard or soft credit pull, you’ll have to provide personally identifying information such as your Social Security number, driver’s license, bank account number, housing details as well as contact info, job and salary info, and the amount of money you’re requesting. Vivaloan may also look at your credit history and physical location. You should be aware that when you submit your information, you’re essentially consenting that Vivaloan can pass along all of this personal and financial info to its partner lenders and businesses to use for “business purposes,” which can cover a wide range of uses.

If Vivaloan finds you a potential lender, the lender will tell you about the loan terms it may offer. Then you’ll need to review the offer and — if you want to proceed — submit a formal application with the lender for final approval. Note that a formal application with a lender may result in a hard credit inquiry, which can affect your credit scores. And remember that the initial loan offer isn’t guaranteed. It could change once you formally apply.

Variety of uses and long repayment terms

If approved, you can use the loan you get through Vivaloan to pay for things like debt consolidation, home renovations, medical bills, car repairs or emergency expenses.

Depending on the loan you’re approved for, you may be able to get a repayment term of up to 60 months. While a five-year repayment period may sound like a helpful way to free up your monthly cash flow, you’ll want to calculate how much you’re paying in fees and interest over the life of the loan.

A closer look at a Vivaloan personal loan

Here are some more details to consider about Vivaloan.    

  • Vivaloan is not a bank or a lender. If you apply for a loan and are approved, the lender you go with — not Vivaloan — will let you know your interest rate, terms and monthly payments.
  • This company does not operate in all states. If you live in New York, West Virginia or Washington, D.C., Vivaloan is not an option.
  • Fast funding is possible. If approved, you could receive your money through direct deposit the next business day. Keep in mind that depending on your bank, you may have to wait longer to get your cash.
  • It can help you build or rebuild credit. Since many of Vivaloan’s lenders report to credit bureaus, a personal loan through Vivaloan’s platform could give you the chance to rebuild your credit if you establish a history of on-time payments among other positive financial habits.

Who is a Vivaloan loan good for?

Using an online loan-shopping platform may make sense if you don’t have the best credit and you want to cast a wide net to see what types of loans you may be eligible for. We always recommend doing research on the best rates and terms you may qualify for before applying — and Vivaloan does welcome people of all credit types to apply.

But Vivaloan raises a couple of red flags: You can’t get any idea of potential interest rates and terms until you apply on the site — and offers may include payday loans for certain applicants.     

Also, once you fill out and submit Vivaloan’s online form, the company shares your personal information — including your financial account info — with lenders and other businesses it’s connected with. If you don’t like that idea, or if you want to avoid potentially getting bombarded with ads and offers, you may want to avoid Vivaloan.

How to apply with Vivaloan

You can apply with Vivaloan online. You’ll need the following information to proceed with the application:

  • The amount you want to borrow, your credit profile and the reason you need the loan
  • Your full name, email, phone number, address and date of birth
  • Primary source of income, including info about your current employer
  • Your monthly income, payment method and frequency, and date of your next payday
  • Your bank name, routing number and account number of the account you’d like your money to go to

If you’re approved and decide to move forward with a loan, you’ll sign your documents online and may receive your funds the next business day.

Not sure if Vivaloan is right for you? Consider these alternatives.

  • Prosper personal loan: If you want to borrow more money, a personal loan from Prosper, a peer-to-peer lender, may be a good option — although interest rates can be somewhat high if your credit isn’t strong.
  • OneMain Financial personal loan: You may prefer a OneMain Financial personal loan if you want to apply in person at a branch location. OneMain considers applicants with lower credit scores but, again, this could mean higher interest rates.

About the author: Anna Baluch is a freelance personal finance writer from Cleveland, Ohio. You can find her work on sites like The Balance, Freedom Debt Relief, LendingTree and RateGenius. Anna has an MBA in marketing from Roosevelt Un… Read more.