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Springleaf Financial Personal Loans

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4.3601999282837 5

Springleaf Financial

  • Personal loans typically from $1,500-$10,000 with APRs from 25.10% - 36.00%
  • 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 508 out of 544 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 299 out of 322 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 (919)

    They helped me out when I needed it
    Helpful to 1 out of 1 people

    I had a relatively low credit score and not a great credit history in general, and I needed funds fast as payday loans were killing me. I was approved for $3,000 for 24 months. The customer service rep at the store even came in on a day they were closed in a snowstorm to make sure I got my check when I needed it. 

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    A win-win
    Helpful to 1 out of 1 people

    Using this type of agency is for those of us who have poor credit scores and are high risk for loans.  Yes, you will pay a higher percentage rate which DOES vary depending on person and circumstance.  I see complainers about a 35% rate.  Yes, it's high and I wouldn't take a loan with that rate.  It's a choice!  We can't blame a company for our poor credit.  We have proven ourselves to be a risk!  Duh.

    My loan was a no-brainer in my opinion.  I wanted to use the equity in my vehicle for a debt consolidation loan.  I couldn't quite get another bank to feel the same on the no-brainer part.  Credit Karma recommended Springleaf and I gave it a shot.  I was immediately approved.  When I spoke with an agent I informed them that I was NOT interested in a 35% interest rate loan.  He got back to me promptly and reported that I could get the loan for under 24%.  I was happy with that.  

    The remainder of the process was simple.  Bring your required documentation.  If you want it to be a smooth and prompt process have your t's crossed and your i's dotted. 

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    Helpful to 1 out of 1 people

    offering loan for 35.99% APR, this is basically legalized loan shark!

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    Thank you for your comment. Providing quality customer service is important to us. Please send us an email with your phone number and the best times to reach you so we can talk. You can contact us by e-mail at

    SpringleafFinancial's reply was:    

    excellent customer service, very friendly!
    Helpful to 1 out of 1 people

    When I needed them the most they came through for me! Very satisfied and would definitely recommend.

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    I had a wonderful experience!!!
    Helpful to 1 out of 1 people

    It was easy to qualify for and the staff was nice and professional. I'd recommend them to everyone.

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    snowflake7734's review was:    

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    Outstanding customer service!
    Helpful to 3 out of 3 people

    From the application process to the closing of this product everything was great!  I am glad I found Springleaf Finanical on Credit Karma...

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    Much better rate than a payday loan
    Helpful to 2 out of 2 people

    Used plain green loans in the past springleaf is much better

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    Good service!
    Helpful to 2 out of 2 people

    I applied and received a call, the employees were very professional and willing to help, high interest rates but I needed the help and they did just that

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    They dont care about me
    Helpful to 6 out of 11 people

    I would never get approved by springleaf loan bec i m bad credit score is 513 huh. But i do have a job three years. I just buy new used car. Also i have a lots bills as other things. I didnt understand why they not allowed me get loan like 5,000. Bec i need it. Also i able to pay 170.00 every month. But they dont believe in me. Wow

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    Hello, thank you for letting us know about your experience. We’re sorry that you are unhappy with our service and would like to speak with you. Please email us at with your phone number and we’ll have someone contact you.

    SpringleafFinancial's reply was:    

    Easy process, Fast approval & good terms
    Helpful to 2 out of 4 people

    Easy, quick & painless.  Great Customer service & good terms.

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    MarthaGalvez's reply was:    


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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.