Personal Loan Reviews


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I was drawn to this company by the promise that education would play an important role in the process and that, if approved, the monwy would be available the next day.  It wasn't quite that clear cut, however.  I initially logged on to the website on a Wednesday.  I did not complete the process at that time because I was still weighing my options.  I received a call that afternoon from a representative.  This person was very professional and courteous.  I informed them that I would make my decision by the next day.  I did decide to finish the application, partially based on the follow-up call, and did so on Thursday morning. 

I then received an email that evening asking for more documentation that was not originally listed.  If it had been, I would have gladly sent it along with the application.  The uploading process itself was very easy.  So, I uploaded the rest on a Friday morning and received an email that implied that I would hear from them later that day.  Nothing.  I noted that they had hours of operation on Saturday.  I did not hear anything from them that day.  I called Monday- it was a holiday- but the phone was answered and my file was said to be complete and that I would hear from them soon.  I called again Tuesday morning and was told the same thing.  Later that morning I received an email from the person assigned to my file that they had been out since Friday for the weekend.  I was a little put out by this, but had already begun to re-evaluate my decision.  I contacted a local finance company to begin the process.

I received an email soon after that said I was approved, but they had to wait for the 'clearinghouse' to verify my degree.   Also, the interest rate was higher than I had been quoted locally by other companies and that I had received in the past when I have borrowed money.  That was disappointing.  Since I was informed that the 'clearinghouse' might take a couple of hours or a couple of days to respond, I decided to finish my application with a local company.  Within 2 hours I was approved and had my money- and my educational background did not matter.  Furthermore, my rate was a full 4 percentage points less than Upstart, with a smaller origination fee.

When I returned to my email, I received word that my application had been approved 'pending additional review.'  Then, about an hour later, I received another email telling me that my application had been denied due to my credit dropping 25 points.  (That would have been when I accepted the local loan.)  Then I received another email expressing regret that I had withdrawn my application.

Overall, it felt like a waste of time.  It may work for some people better or, also, if time is not of the essence.  Every representative that I spoke with was courteous, but the final two phone reps did not sound as professional as the original one did.  They were obviously young and spoke with that annoying, questioning tone that is all too prevalent today.  It is not a good phone voice, either.  On balance, I could not rate them higher, but they were by no means unpleasant to deal with.

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mathmin's review was:    

 
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I've been really pleased with the process of receiving a loan from Earnest. I have a high credit score but keep a lot of my net worth tied up in the market, making it difficult for me to get a low interest LOC from my banks. Earnest was able to offer me a very attractive 5% APR over 3 years for my future wife's engagement ring. In addition, they were highly responsive when I had questions (even when I requested an additional 3 weeks to accept the loan, so I could finalize the ring's custom design.) Prosper's lowest rate is in the low 6s, and others start around 7%. The next time I need medium-term financing, I will look to Earnest.

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af3's review was:    

 
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I worked with Gena and she was amazing, all my questions answered, helpful, and so kind! I would recommend working with them to anyone! 

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melissa0701's review was:    

 
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Avant is the best.  No hassels. Highly recommend this for everyone!!! 

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g1979's review was:    

 
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Great personal loan company! Wish they would get rid of the origination fee or at least reduce it, but great service overall. Would recommend to anyone!

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jkb1962's review was:    

 
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I've bought a lot of things online and this process was so simple, it almost seemed to good to be true! But low and behold, the funds were deposited in my account in a few short days and I am saving money I was spending on much higher credit card rates. Thanks Best Egg!

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zazo23's review was:    

 
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I would recommend to all of my friends.

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Booboo4894's review was:    

 
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I have a credit score of 724 and make about $180,000/yr. My only negative credit history is a credit card my ex-husband took In our divorce and stopped paying. When the company alerted me it was 60 days behind, I paid it off so it wouldn't "hurt" my credit. Light stream denied my saying I had negative credit history. I explained what happened and they denied me again. I never spoke to anyone but a phone rep and they never wanted to see a single document. BTW, they contacted me to get the loan Initially. 

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SERMac's review was:    

 
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After going through the applicaiton process a message appears saying "We are currently running a pilot in New York and will be launching in your state later this year."

They should have said that from the start. Not after I gave out my personal information and wasted my my time doing so.

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MyExperience's review was:    

 
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Total crap. Applied to help my credit and the reason they gave me was completely BS!

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getskinny45's review was:    

 
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