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Springleaf Financial Personal Loans

Application Process
Customer Service
3.9 5

Springleaf Financial

  • Personal loans from $1,000-$25,000
  • Flexible. Terms that fit your needs and no pre-payment fees
  • Fast. Loan decisions as quickly as 1 hour
  • Convenient. Apply online, by phone or at your local branch

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  • Most Helpful Positive Review

    Good deal for a bad credit loan
    Helpful to 325 out of 350 people

    If you are in a similar situation to me, Springleaf is probably one of the few options available to you. I just got my check from them today, and getting to that point was rather painless with a few caveats. I will write a detailed review below, but the short answer is that I would recommend this place to someone with a low credit score who has an urgent need for a lump of cash to pay some bills. It is a better interest rate than the payday loan places. They will try to push you to get credit insurance with your loan, but it was easy enough to tell them no to that. The branch manager assured me that I can make payments online and that this is a simple interest loan with no prepayment penalty. There were a few snags, but at the end of the day I have my money and can take care of some bills. If I have any problems down the road, I will come back and change my review. For now, I give them four stars.

    Now, here is the long review...

    My FICO score is in the low 600's, and I have a stack of medical bills that need to be addressed plus I am buried under a high interest (157%) long-term personal loan that I took through one of the payday loan places. To pay off the personal loan and medical bills, I needed about $4000. I was also hoping to get a little extra money to fund a trip to Chicago for a wedding this summer. With my credit score, I didn't even bother trying a traditional bank or credit union, and I was turned down by Prosper and LendingClub. So, Springleaf was one of my only options to get a loan.

    I filled out their online application, and I heard back from the branch manager the next day. Over a couple more days, he put together a package for me and gave me two options. I could either get a "personal property loan" for $3500, or put up my pickup truck as collateral and get a $5100 vehicle title loan. I originally chose to do the vehicle title loan.

    Now, here comes one of the reasons that I only rated the place as four stars. Similar to other reviewers, I had to drive over 40 miles to get to the nearest office. That was not a big issue in and of itself, but I wanted to make sure that there was nothing I was missing so I wouldn't have to make the trip more than once. Well, when I got there with all my paperwork (pay stub, W2, apartment lease, documentation of my bills, registration/insurance/title for my vehicle, and photo ID) it was only then that I learned I could not use my truck as collateral right now because the registration is due soon. They never told me about this requirement beforehand! Since I have to get some smog work done before I can renew my registration, there was also no way to correct that problem in the near future. So that took away one of my loan options. So much for that Chicago trip! If you are looking to get a vehicle title loan through them, make sure your registration does not expire within the next 60 days.

    Another reason I knocked off a star from them is that they kept trying the hard sell with me on the credit insurance. In fact they offer four or five different types of loan insurance, but I had already told him before I came in that I didn't want any of the insurance, so I just cut him off when he tried to pitch them to me again. Thank goodness for the reviews on this site, or I probably wouldn't even have noticed that they were going to automatically add insurance (which is apparently their standard practice).

    Another reason why I downgraded them by a star was this practice they have of trying to pay the consolidation bills directly. They didn't ask for all of my individual medical bills, but they did want to pay the payday loan place directly. I understand why they do that (they want to make sure you are not increasing your debt load with this loan), but sometimes that just isn't an option. Since the payday loan place directly debits my bank account for payments, and I never receive a statement with an option for mail-in payments, I had no idea how to go about repaying it with a check from Springleaf. I had to explain that and bring in some web page printouts to show him how that loan works, and assure him that the first thing I would pay off would be that payday loan.

    The final reason that I knocked off a star is the interest rate. I understand that a loan place like this is going to charge high interest. Part of the reason is that they have a corner on the market for bad credit loans, and part of the reason is that they need to cover the attrition of the inevitible number of these high risk loans that are going to default. They are charging me 34.99%. That is higher than any of my credit cards, but it is still a better rate than the 157% the payday loan place was charging.

    Overall, I am happy. I was previously paying $400 a month for that high interest loan and I had no idea how I was going to address this stack of medical bills. Now I will be paying $151 a month and the medical bills and payday loan place will be history. With any luck, I will even have some extra money to pay this loan off sooner. I didn't get as much money as I originally wanted, but they did take some big burdens off my shoulders.

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    davej323's review was:    


    Most Helpful Critical Review

    Needed a Loan
    Helpful to 161 out of 177 people

    I went here because my credit score is below 600 (560), but all my current accounts (CC's, Car, Revoling, etc) has been in excellent condition for over 5 years.  Credit Score down due to old accounts during bad times.

    Yes the interest is high...but I'm considered a risk in this day and age with a sub 600 credit score. 

    I needed to fix my car and bill was $3500 and i didn't have it.  In 1 day I had a check without any colateral and my car is on the road.  I don't plan to pay the term but pay off in 6-12 months which will delete most of the high interest.

    All in all there is a need for companies like these when Banks and Conventional loan companies won't touch you.  The key is to always make your payments and pay as much extra each month as you can..

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    Reviews (797)

    Helpful to 1 out of 2 people

    The experience I had was great and cheerful. I was able to consolidate 80% of my C/C debt which is better then nothing but like all quick loans your interest will be outrageous and if you're able to pay it sooner do it ASAP!!! 

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    snowflake7734's review was:    

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    Excellent Service

    If you are looking for a loan with exceptional customer service then Springleaf just might be the company for you.  The staff is amazing.  They are very thorough explaining every part of the loan in detail.  It was one of the quickest and most pleasant experience I have had when requesting a loan.

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    My Life Saver
    Helpful to 2 out of 2 people

    My experience in obtaining this loas was very easy, not stressfu and very satisfying. The representative who assisted me during a very stressful time, was courteous and empathetic to my needs.  I had just recently paid off all my credit card debt and then I was faced with the untimely death of an ex-husband that had no family other than my 3 young adult sons.  Financially my sons were unable to afford the funeral expenses and many bills left behind by their dad.  So I charged everything to my credit cards (to save my sons from the burden) Interest started to rack up, i was back in debt, so I applied with Springleaf after watching my credit score slowly drop on and was approved within days. Springleaf was able to pay off my high interest debt and get me back on track and eased alot of stress for myself and my family. They helped me out of a bind, when no one else would including my personal bank i had been banking with for years.  I am very grateful for their help!

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    Helpful to 3 out of 5 people

    wonderful and very helpful and kind...

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    Helpful to 4 out of 4 people

    They gave me a kid that I was first, he had all the information incorrect plus so disorganized among the departments.  Then a simple secured loan took 5 WEEKS because they made an unneceddary request that took 3 weeks to honor.  I verified with DMV and other lenders that it was not necessary.  Ever piece of information I was given by rep turned out to be wrong or inaccurate.  I did finally receive money at a ridiculous interest rate for not that bad of credit in their words.  I wish I hadn't have needed the money and started the process with someone else or shopped around better but I so that credit karma site gave 4 stars so I felt good about using them.

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    Great service
    Helpful to 1 out of 2 people


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    Very helpful
    Helpful to 3 out of 5 people

    I have had a great experience payments have been very reasonable

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    I am very happy with Springleaf Financia
    Helpful to 4 out of 6 people

    They were able to help me consoldate my credit cards and made my payment to them lower than what I was paying for all my credit cards.  The staff is

    awesome very proffessional but also friendly.  If anyone needing a loan this is the only place I would recommend.   Thank you Springleaf!

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    makingbetterchoices's review was:    

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    Personal Loan
    Helpful to 2 out of 6 people

    Very easy process and awesome and friendly staff!!

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    Help when I needed it the most.
    Helpful to 7 out of 7 people

    When I really needd help Sprongleaf was there for me with payments I could afford. The downfall of borrowing money from Springleaf is the extremely high interest rate. If you can pay off the loan quickly its fine but if not make sure you really NEED the money and not just want it. You could end up bein in debt a lont longer than you planned.

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    Company Overview

    Founded in 1920, Springleaf Financial Services provides personal loans for a variety of purposes including bill consolidation, home improvements, college tuition as well as unexpected expenses. Consumers can begin the application process online and then visit one of Springleaf’s convenient branch locations throughout 25 states in order to complete the application and receive their funds. Customer service is available online, by phone or in branch locations.

    **Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based upon information entered by the consumer and through analysis of information publicly available at lender websites. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 7% to 30%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, credit usage and history. All loans are subject to credit review and approval. When evaluating offers, please review the lender’s Terms and Conditions for additional details.