NorthWestern Financial Review


Social Finance, Inc. Overall rating: ★★★☆☆ 3 based on 6 reviews.
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Online Payday Personal Consumer Loans up to $5,000

Easy Application, Fast Processing, Quick Approval, Any Credit Score

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SoFi (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
Phone number
1 (855) 456-7634
Email  Live chat

SoFi screen


  • 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


  • 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:

  1. Be at least 18 years old (at least 19 in some states);
  2. Be a U.S. citizen or legal resident;
  3. Not be a resident of Mississippi;
  4. Have a minimum credit score of 680;
  5. Have a job (or an offer to start a job within 3 months) or veritable income from other sources.

Category: Online Loans

Tags: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming

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Social Finance, Inc. Reviews

I have had 3 loans with this lender and all of them were approved in 10 minutes with no hassle. I got very low interest rates. Excellent company that I would recommend to anyone who needs funds qiuckly.
- Mildred Randall

In 2017 I applied for a SoFi loan consolidation and it was a trouble-free process. I waited about a year and then applied for a home loan… For now, I can say my experience with this lender has been great.
- Carla Mackey

SoFi is a scam, I have warned you
- Luis Colby

My experience with SoFi is so absurd! I am 43 yo, have 826 credit score and great credit history, high veritable income, a job and needed only a $20,000 loan, never missed a payment, perfect everything, but despite all of this my application was declined with no explanation!!
- Dianna Davidson

The customer service representative was nice and helpful… Money was transferred immediately into my checking account and my payments were automatically withdrawn every month. I have no complaints and can recommend this business to anyone.
- Kayla Pina

“When I applied to SoFi for a personal loan I was ‘PRE-APPROVED’! Then I sent them lots of documents including tax statements, bank statements, letters of my credit explanation (my credit score is over 750). After all of this, I then received a message that I was declined. What? Why?? They already said I was approved? Worst lender ever!!! Waste of time!!!
- Leon Glover

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