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In some cases, a personal loan could really improve your finances, but you think you do not have the credit score to get approved. Peerform is a company that provides peer to peer loans for people with less than perfect credit. They will link you to investors who will offer you a loan.

To be approved for a loan with Peerform, you need to have at least a 600 credit score. There is no minimum requirement on income, and you will need minimal credit history. However, the average credit score of borrowers is closer to 660. The company likes an annual income amount of $85,000 and a debt to income ratio lower than 40%

When you apply for a Peerform loan, you will be assigned a grade that will determine your interest rate. You need to go online to complete an application, and you will need to supply a pay stub to the company. Peerform will also verify your identity. Applying does not affect your credit. If you are approved for a loan, you will be presented with options, and you can choose the one that is best for you. Before your loan can be finalized, a hard credit check will be conducted. Most investors fund your loan within a couple of days; however, the company will post your loan for two weeks. If your loan is not funded within two weeks, you will not receive a loan.

Peerform offers loans up to $25,000. Your credit will influence your rate, but rates range from 8% to 30%. You will have 15 days to pay your loan after the due date before you are charged a late fee. The life of the loan will be 3 years. There is no penalty if you wish to repay the loan early.

If you can get a loan from Peerform, it is a good company. One of the complaints about the company is that the number of investors with Peerform is low, so only the people with the highest grades get funded. However, it is possible to get a loan with a low credit score, so you could be approved with this company when others have denied you for a loan. You can complete the entire process online, so you can apply any time and any place. Applying for a loan is quick and easy. However, it is not available in all states. The company is a good option to consolidate debt, but make sure you are getting a lower interest rate than you are currently paying.