SoFi
Online Payday Personal Consumer Loans up to $5,000
Easy Application, Fast Processing, Quick Approval, Any Credit Score
Request a LoanSoFi (Social Finance) is a financial management service that offers loans and other financial services. It offers flexible loan amounts and terms. It’s a fully digital service that makes it easy to control your finances. The company started in 2011 with student loan refinancing. Since then, the company has expanded its services but continues to focus on loans. SoFi interest rates are based on several factors, including income, credit score, and current loans. Most of the SoFi products and services don’t include any fees.
| Company name | Social Finance, Inc. |
| Founded | 2011 |
| Address | 1 Letterman Drive Building A, Suite 4700 San Francisco, CA 94129 |
| Website | sofi.com |
| Phone number |
1 (855) 456-7634
|
| Live chat |
Pros
- Loan amounts: $5,000 to $100,000
- Fully digital
- Offers unemployment protection
- No fees
- Simple online application
- Live support 7 days a week
- Repayment terms range from 2 to 7 years
- Rate discount for autopay
- Free financial advising
- Offers co-sign and joint loan options
- Mobile app
Cons
- High minimum loan amount – $5,000
- Does not offer secured loans
- Need an account to check rates
- Does not offer direct payment to creditors with debt consolidation loans
- Good credit required
Bottom line
SoFi is a legitimate money management business. It offers various products and services to help customers manage their money. SoFi has no fees, offers high loan amounts, flexible loan terms, and good live customer support 24/7. If you’re searching for a reliable lender that isn’t going to empty your wallet with hidden fees, this is a nice choice. However, you will have to look for other options if you are living in Mississippi as the lender does not operate in this state.
Types of loans
SoFi offers multiple types of loans:
- Mortgages and mortgage refinancing
- Personal loans
- Small business loans
- Home equity loans
- Student loans
Loan requirements
To qualify for a SoFi personal loan, you must typically comply with the following eligibility requirements:
- Be at least 18 years old (at least 19 in some states);
- Be a U.S. citizen or legal resident;
- Not be a resident of Mississippi;
- Have a minimum credit score of 680;
- Have a job (or an offer to start a job within 3 months) or veritable income from other sources.
Category: Online Loans
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Posted by Deborah Wagner