Take financing off your
checklist
Check your rate in minutes
Won’t affect your credit score
Fund your wedding quickly and easily
Average wedding loan $7,874.98† | 3 & 5 year terms‡ | 2.92% – 35.99%‡
Cover Wedding Expenses
Pay for vendors, location deposits and even your honeymoon.
No surprises on your big day
Be prepared financially for unexpected wedding costs.
Lower Rate
56% lower rates than traditional models.*
Fast and Easy Process
Most applicants get money just 1 business day after accepting their loans.**
loans for any occasion
WEDDING LOAD FAQ
What is a wedding loan?
With the average cost of a wedding at nearly $33,900 in 2019, couples may need a variety of ways to pay for their big day. A wedding loan is a type of personal loan that can help you cover your wedding expenses.
As an unsecured loan, you’ll receive the funds as a lump sum, and make fixed payments to repay the wedding loan. These payments continue until you’ve reached your loan’s full term or you’ve repaid the entire remaining loan balance.
When does a wedding loan make sense?
There are a variety of reasons getting a wedding loan might make sense. Here are just a few common scenarios you might consider when deciding whether a wedding loan is right for you:
Your wedding savings fund is short
Your vendor requires a deposit before you’re able to provide funds
You don’t want parents to pay for your wedding
You don’t want to use your emergency savings
You don’t want to use a credit card
You’d like a way to control wedding expenses with a fixed line of credit
If you’ve done your best to cut wedding costs, but still need additional funds, a wedding loan could be an option.
How can I use a wedding loan?
How much can I borrow for my wedding?
With eFund123 you can borrow $1,000 to $50,000§ for a three or five year term‡. Most borrowers receive their funds within one business day after accepting their wedding loan terms. If you’re able to repay the loan early, all the better — there are no prepayment penalties to worry about.
How does a wedding loan affect my credit score?
Checking to see if you qualify for a wedding loan doesn’t harm your credit score††. In fact, this kind of comparison shopping produces a “soft credit inquiry” on your credit report — you’ll be able to see that it happened, but it doesn’t drop your score.
It only takes about five minutes to receive a rate quote for an eFund123 wedding loan. If you decide to move forward, we’ll do a “hard credit inquiry” to verify the information you’ve provided. This type of inquiry may affect your credit score.
How do I apply for a wedding loan?
To apply for an eFund123 wedding loan, start by submitting the online form to check your rate. On this form, you’ll need to include:
The amount you’d like to borrow
Basic personal information
Education level
Income type
Amount of savings and investments
In addition to your credit history, your education, area of study, and job history are used to determine the interest rate you’re eligible for. If the interest rate and wedding loan terms fit your needs, completing your application is easy to do and online.
†† When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information will be reported to the credit bureaus.
§ Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5,100. The minimum loan amount in GA is $3,100.
‡ 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 loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
* As reported by the Consumer Financial Protection Bureau, based on an internal eFund123 study which compares outcomes from eFund123’s 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).
** If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.