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Fair.Loans Personal Loans Review

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Fair.Loans is a personal loan marketplace service offered by Backed Inc., a New York-based unsecured loan provider. Fair.Loans matches users to potential loan providers based on their credit history, income, desired loan term, and other factors.
 
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How is Fair.Loans rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

Fair.Loans is a simple, effective tool for finding the best possible loan providers according to a consumer's needs and qualifications. Fair.Loans goes beyond just credit scores and takes several other factors into consideration. Together with a wide variety of featured loan alternatives, this ensures users will be ultimately satisfied with the service.

Fair.Loans Loan Specifics

Loan Specifics - 0 / 5

Fair.Loans is a loan marketplace and therefore cannot offer a specific number for loan amount range. The loan providers it features have term lengths of 12 to 60 months. Additionally, Fair.Loans can look for loans with just about any kind of desired use.

Loan Uses

Debt/Credit Card Consolidation
Buy Home
Major Purchase
Home Improvement
Medical Expenses
Wedding
Moving/Relocation
Vacation
Start Business
Education
Taxes
Term Length
12 to 60 months

Representative Loan Sample

A representative loan example from Fair.Loans: assuming a loan of $14,000 over 36 months at a fixed rate of 8.49% per annum and fees of 1.6% off the loan amount. This would result in a representative rate of 9.59% APR, with monthly repayments of $441.88, for a total amount paid of $15,907.68.

Fair.Loans Qualification

Qualifications & Flexibility - 0 / 5

Fair.Loans takes your annual income, pay frequency, and level of education, among other values, into consideration when providing loan alternatives. It also does a soft credit pull so your score doesn't suffer before you decide on a loan provider. Further requirements are needed depending on a customer's selected provider.
Personal Income Considered
Yes
U.S. Citizen
Yes
Hard Credit Pull
No

Fair.Loans Cost of Loan

Costs, Interest Rates, Discounts & Fees - 0 / 5

Because Fair.Loans is a marketplace service, APRs and fees will ultimately depend on the loan provider of a consumer's choice. Loan providers featured by Fair.Loan have APRs ranging from as little as 2.99% up to 35.99%.
APR Range
2.99% and up to 35.99%

Fair.Loans Reputation

Customer Service and Reputation - 0 / 5

Backed Inc. was founded in 2014 as a way to provide accessible loans to borrowers with lower or nonexistent credit scores. Its Fair.Loans service is a marketplace and as such does not provide loans itself. It has no complaints on the CFPB and an A rating on the BBB, although the organization has raised concern about some potentially unsubstantiated claims on backedinc.com. The company has yet to respond.
Type of Institution
Marketplace
Year Founded
2014
BBB Rating
A
Date Collected
2018-06-19

Disclaimer

Fair.loans is not a loan provider but only matches you with lenders that may extend a loan to you. All loan approval decisions and terms are determined by the loan providers at the time of your application with them. There is no guarantee that you will be approved for a loan or that you will qualify for the rates displayed. The offers and rates presented on this website are estimates based on information you submit to us. Your actual rates depend on your credit history, income, loan terms and other factors. Reasonable efforts are made to compile and maintain accurate information. However all loan rates and terms, including APRs, are presented without warranty and are subject to change by the loan providers without notice. The personal loan products on Fair.loans are from companies from which Fair.loans may receive compensation from. Fair.loans does not include all personal loan companies or all types of products available in the marketplace. APR on personal loans is dependent on the specific lender of each loan and can range from 2.99% and up to 36%. Loan repayment term is dependent on the specific lender of each loan and can range from 12 months to 60 months.
Headquarters Address
106 West 32nd St., Suite 111, New York, NY, 10001
Homepage URL
http://www.fair.loans

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Top Rated
Our Partner
  • Get personalized pre-qualified rates from multiple lenders.
  • 2 Minute Process
  • Loans from $600 - $200,000 
  • Rates from  7.49% - 35.99% APR
  • Loan terms of 1 - 7 years.
  • Rated A+ by the BBB
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