Instant Real Time Loan Approvals
A personal loan from eFund123 is an unsecured loan (no collateral) that you can use to meet current financial needs.
Won’t affect your credit score
You are more than
your credit score
Fair & fast online loans from
$1,000 – $150,000
Fair & Fast Personal Loans
Loans from $1,000 - $150,000
3 & 5 year loan terms with an APR range from 2.92% – 35.99%‡
Next day funding
Personal loan funds can be sent in just 1 business day after signing**
No prepayment penalty
You may pay off part or all of the loan at any time with no fee
All loans are from eFund123-powered bank partners. Loans not available in all states. If eFund123 can’t fund your loan you will have the option to receive funding from a lending partner
eFund123 is different
Traditional credit scores leave people behind. We use artificial intelligence and custom models to expand access to unsecured loan products.
more approvals than traditional models†
Lower rates than traditional models†
data points not just your credit score
Monthly payment vs multiple credit card payments
Check your rate to see the difference
Won’t affect your credit score
eFund123 in the news
Many consumers are getting more savvy and are looking for an alternative to high interest credit cards
eFund123’s model has increased credit access, and pushed other lenders to explore more ways to lend to consumers with little or no credit history
Instead of looking at a credit score alone, we evaluate things like education, area of study and job history in addition to normal credit attributes when considering our loan applicants
eFund123 Loan in 3 Easy Steps
1
Check your rate
Fill out our form and check your rate in
minutes
2
Verify your information
Most of the time borrowers are instantly approved
3
Get your money
Most personal loan funds are sent within just 1
business day after completion**
Let us answer your questions
What is a personal loan?
An unsecured personal loan is when you borrow money from a lender that is not secured by property such as a house or car over a fixed time period.
What’s the difference between an interest rate and an APR?
Interest rates are only one factor of the cost of the loan. The total cost can be understood by the APR, which is the annual cost of a loan inclusive both of interest rate and all other associated fees. For example, the cost of an origination fee is included in the APR. When comparing loan products, it is important to compare the APR of each product.
How long will it take to get my money?
Personal loan funds are transferred on the next business day if the terms are accepted before the predetermined time in the loan offer. If the terms are accepted after that time, the funds will be transferred on the following business day provided that funds are not being used to directly pay off credit cards. For certain loans like those that are being used for education-related purposes, there can be an additional 3 business day period between when you accept your loan and when you will receive the funds.
Will it affect my credit score?
Checking your rate with eFund123 will not affect your credit score. If you proceed with your application after receiving a rate your credit score may be impacted. When you check your rate, we make a “soft credit inquiry.” Soft credit inquiries on your report do not lower your credit score, but you may see when you view your report that this inquiry was made. If you are offered a loan and proceed with the application, a “hard credit inquiry” will be completed to verify the accuracy of your application. This action will be recorded as an inquiry on your report and it may impact your credit score.
Do I pay a fee if I pay off my loan early?
There is no prepayment penalty for paying off a loan on eFund123 early. You may pay off part of all of the loan at any time with no fee. By prepaying, you will pay less overall interest because the loan is outstanding for a shorter time.
§ Your loan amount will be determined based on your income, credit, employment and certain other information provided in your loan application. Every applicant will not qualify for the full amount. The minimum loan amount varies by state and loans are not offered in all states.
†† When you check your rate, there may be an initial soft inquiry. This initial (soft) inquiry will not affect your credit score. If you choose to accept your rate and proceed with your loan application, the lender will do another (hard) credit inquiry that will impact your credit score. When you take out a loan, repayment information will be reported to the credit bureaus.
‡ The full range of available rates varies by state. The average 3-year loan offered across all lenders using the eFund123 platform will have an APR of 25.79% and 36 monthly payments of $37 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
** If you accept your loan by the predetermined time, loan funds will be sent to your designated bank account as quick as the next business day, provided that such funds are not being used to directly pay off credit cards. Loans used to fund education related expenses can be subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law. Lender determines final requirements.
◊ As of September 30, 2020.
◊◊ The majority of borrowers on the eFund123 platform are able to complete the application process automatically without providing additional supporting documents. Final approval is conditioned upon passing the hard credit inquiry.
† As reported by the Consumer Financial Protection Bureau, based on companies internal studies which compares outcomes from underwriting and pricing model against outcomes from a hypothetical model that uses traditional application and credit file variables and does not employ machine learning (traditional lending model).
Images and stories are not actual customers.
9 out of 10 users surveyed reported that they would recommend eFund123.
Use of funds must be in accordance with eFund123’s Acceptable Use Policy.
Neither eFund123 nor its bank & lending partners have a minimum educational attainment requirement in order to be eligible for a loan.