Earnest personal loans are geared to borrowers with strong credit and who are not carrying a lot of debt.
All loans with Earnest are applied for online. They have not storefront locations
Your loan application with Earnest requires you to provide some information and access to existing accounts with your bank that other lenders do not require. The reason customers provide this information is that Earnest uses it as part of their underwriting process to determine the risk of making the loan, and then approves borrowers for loans that other lenders will not approve.
Earnest requires a minimum credit score of 680, but places a greater emphasis on their assessment of your future earning potential, based on your education, job history, and Earnest's projection of your future income.
Earnest's loan process takes longer to complete than most lenders, because of the way they qualify borrowers. Still, it is not a very lengthy process. If approved, you should have funds in your account in less than two weeks.
Earnest's interest rates are competitive.
Earnest is an excellent place to look If your:
Earnest makes loans to US Citizens or to either long-term permanent resident aliens or a conditional permanent resident aliens. Both must meet a minimum length of time.
Earnest is a San Francisco-based, online personal loan lender. Earnest was founded in 2013.
Starting with an initial focus on student loans, Earnest expanded to offer unsecured personal loans, too. Loans to consolidate debt are the number one reason borrowers take out an Earnest personal loans.
As Earnest's website explains, they also give out personal loans for the following reasons:
Earnest personal loans have an interest rate that ranges from 6.99% APR to 18.24% APR, as of December 2018.
Repayment terms range form 3 to 5 years. The longer the repayment term you choose, the higher the interest rate you will pay.
Earnest personal loans also require you to: