FreedomPlus: Personal Loan Review

Personal LoansPersonal Loan ReviewsFreedomPlus

Personal Loan Review

The basics

Estimated APR

8% – 30%

Min. credit Score


Max. DTI Debt to Income Ratio


Origination Fees

1.99% – 4.99%

Late Penalties

$15 or 5% of the amount that’s due

Prepayment Fees


Good for: Low min. APR for fair credit score

Our verdict

FreedomPlus provides same-day loan decisions and fast funding within 48 hours for individual applicants as well as those with cosigners or coborrowers. And you might need one based on the high minimum loan amount, starting at $7,500. FreedomPlus also charges an origination fee up to 4.99%.

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Beyond the basics

Same-day loan decisions

Personalized service

Fixed payments

No prepayment penalty

Loan Amounts

$7,500 to $40,000

Loan Terms

24-60 months

Time to funding

Within 48 hours

BBB Rating



J.D Power 2019 U.S. Personal Loan Satisfaction Study, Customer Satisfaction Index

Full review

Lender description FreedomPlus offers custom loans from a personal loan consultant with same-day approvals and funding within 48 hours.

Best used for

  • Debt consolidation
  • Home improvement
  • Large purchases
  • Medical expenses
  • Weddings

Pros & cons

  • One-on-one assistance from loan consultants available
  • Allows cosigners or coborrowers
  • Same-day loan decisions and funds available within 48 hours
  • No prepayment penalty on loans repaid early
  • Charges origination fees up to 4.99%
  • High minimum loan amount ($7,500)

Most suitable for

  • Consumers looking for fast funding
  • Consumers who need a cosigner or coborrower

How to qualify You need a valid ID as well as a verifiable income and bank account. You’ll also need a FICO score of at least 640, a minimum debt-to-income ratio of 40%, and a minimum annual income of $40,000.

How to apply Apply online or call 800-368-0061. Borrowers are assigned a loan consultant who will guide them through the application process.

COVID-19 resources FreedomPlus offers a Coronavirus Resource Guide

Footprint FreedomPlus loans aren’t available in all 50 states, and the minimum loan amounts are different for several states. Call customer service for additional details on availability.

Loan example A four-year, $20,000 loan with an interest rate of 15.49% and corresponding APR of 18.34% would have an estimated monthly payment of $561.60 and a total cost payable of $7,948.13.