FreedomPlus Personal Loans Review

Rating: 9.7 / 10 (Excellent)
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FreedomPlus is an online lending company and subsidiary of Freedom Financial Network that offers loans to prime or near prime consumers for purposes of debt consolidation, home improvement, and other major purchases and expenses. With over $500M in loans originated to date, FreedomPlus has been recognized for its impact on the online personal loans marketplace and innovative business model

How is FreedomPlus rated?


Loan Specifics
Cost of Loan
Lender Reputation

Overall Rating: 9.7 / 10 (Excellent)

FreedomPlus is a great choice for personal loans because of its simple online application process, quick approval, and as little as 48 hour funding time. Rates and other fees are also stated clearly making them one of the most transparent personal loan providers today. Their reputation is remarkable and, although they do not have any FAQs or support pages, every customer is contacted by a loan consultant minutes after applying to work out the details of their payment. The discounts they offer make the company attractive, especially if you are in debt to several creditors with high rates and want to consolidate into one payment with a lower APR.

FreedomPlus Loan Specifics

Loan Specifics - 9.7 / 10

FreedomPlus's loan application process is easy and transparent, and rates are guaranteed not to increase. Their loan amount range is a bit tighter than its competition's, standing between $10,000 and $35,000, but term length is flexible enough at 2 to 5 years. Loan approval time is considerably short, and funds can be released as quickly as 48 hours after approval. Funds can also be transferred directly to creditors for an interest discount instead of just into your bank account. During the process, every qualified applicant is required to speak live to a loan consultant to finish his/her application. This is unique in the world of online personal loans, and provides confidence to the consumer who gets to deal with an actual loan expert instead of just a website.

Loan Uses

Debt/Credit Card Consolidation
Buy Home
Major Purchase
Home Improvement
Medical Expenses
Start Business
Loan Minimum
Loan Maximum
Term Length
2 to 5 years
Direct Deposit
Pay Creditors Directly
Decision Time
Within 24 hours
Disbursement Time
Within 2 business days
Credit Insurance
Unemployment Protection

Representative Loan Sample

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.

FreedomPlus Qualification

Qualification - 9.1 / 10

Like many other online lenders, FreedomPlus will let you choose rates after making a soft credit check on a customer's score. Once the customer applies for a specific loan, they will perform a hard credit pull, which will lower their score by a few points. Minimum FICO score for FreedomPlus loans is 640 and maximum debt-to-income ratio is 40%, although most borrowers have a score that hovers around 700 and average a debt-to-income ratio of 20%..
Minimum FICO Score
Personal Income Considered
Education Requirements
Debt to Income Ratio
Maximum debt-to-income ratio of 40%
Verify Bank Account
U.S. Citizen
Hard Credit Pull

FreedomPlus Cost of Loan

Cost of Loan - 10 / 10

FreedomPlus loans range from 4.99 to 29.99% APR. The company charges a 0 to 5%, as well as an undetermined amount for late payments. FreedomPlus provides three discounts that lower interest rate for its applicants, something unique in the industry: a co-signing discount that rewards joint borrowers, a direct pay discount, which gives customers the option of sending fund directly to creditors they owe money to, and a retirement discount, which rewards those who are responsibly planning for their retirement.
APR Range
4.99 to 29.99%
Origination Fee
0 to 5%
Missed Payment Penalty

FreedomPlus Reputation

Lender Reputation - 10 / 10

FreedomPlus's team has years of experience in personal finance and have been making headlines since they opened in 2013. FreedomPlus has an excellent reputation, with an A+ BBB rating and 4.81 composite score with them. It also has a great 7.8 score with Trustpilot.
Type of Lender
Peer to Peer
Year Founded
BBB Rating
Number of BBB Positive Reviews
Number of BBB Negative Reviews
Trust Pilot Rating
7.9 out of 10
Consumer Financial Protection Board (CFPB) Complaints
Date Collected

Company Profile

Full Name
FreedomPlus Personal Loans
Company Website
1875 South Grant Street, #450, San Mateo, CA, 94402

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Customer Comments & Reviews

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andre m
Atlanta, Georgia
was initially approved but was told that the underwriters declined my request, then i was told they are more strict than the companies ive worked with and have paid off in the past even with a 705 score (i.e. lending club, upgrade, prosper) the customer service sucks, its bad when you are approved but it really sucks when the (UNDERWRITERS) change their minds midstream!!!!,

Serena b
Chicago, Illinois
I applied for a loan and was approved and Just needed to send my paperwork in. After I sent it in and haven’t heard from no one. I called my representative that I was working with Shardey because I could never get her anymore. No response to voicemails or emails. I finally got through to another person after about 2 weeks later and was told oh you were denied and she will give u a call to explain. I still haven’t heard back. I’m just constantly checking now to make sure there doesn’t end up being any fraud on my credit. Smh

Sacramento, California
I had a terrible experience with Freedom Plus! They have no right of rescission once the loan docs have been sent. I tried to cancel only hours after returning the docs because I found a MUCH cheaper loan. They said they would "try" to cancel it. I was surprised weeks later when it wasn't canceled and the funds were sent anyways. I was given unreasonable dates to return the funds in order to wave the origination fees which I found to be very high. I was charged for money I didn't want, didn't use, and I wouldn't recommend this company. Watch out!

Ernesto A
Brandon, Florida
They hide many things like its a daily simple interest and once you sign that contract there is no turning back. I wanted to cancel my contract one day later and I was told i could not. Do your research before you do business with this company

Top Rated
Our Partner
9.7 / 10
  • Borrow $10,000 to $35,000
  • A+ rated with the BBB
  • Rates as low as 4.99-29.99% APR
  • Loans customized to your needs
  • Discount for co-applicants
  • Discount for direct pay to creditors
  • Discount for having retirement assets above $40K
  • No collateral required
  • No prepayment fees ever
  • No application fee
  • Talk to live U.S.-based loan consultants