5k Funds Reviews – Eligibility, Features, and Charges?

5k funds are one of the loan providers’ services with a convenient application process. Despite several other available options, we will be presenting before you 5K Funds Reviews due to reasons which will be pretty evident in a while!

What Will We Talk About Here?
  • 5k Funds review as it offer loans ranging from  $500 to $35,000 with an APR ranging from 5.99% to 35.99%.
  • To apply on this platform, you must be above 18, a citizen of the US, have a secure income source, and have a bank account by your name.
  • You can apply here by Visiting the Website > Application form > Desired amount > Loan term range > Personal information > Upload documents > Wait for verification and final confirmation.

…and Much More!

5k Funds Reviews – In a Nutshell 

5k Funds is a well-known lending marketplace with a chain of lenders who lend you loans ranging from $500 to $35,000.

It does not work exclusively for people with better credit scores. Instead, you are not liable to submit your credit scores to get the loan

  • It is an online platform that helps you access personal loans, and you need to fill out an application to proceed further. 

You can apply for a loan for numerous purposes depending upon your requirements. Be it your personal thing or professional reasons, 5k Funds will always entertain your case and connect you with a reliable loaner

5k Funds is Florida-based and has been operating since 2015. Since then, it has had multiple customers with its free online loan comparison service, where you are directed to bona fide lenders. 

5k Funds Reviews and Key Features

Before opting for this loan program and making any choice, you must know all the possible outcomes of joining hands with the lenders through the 5k Funds platform reviews. 

APR5.99% – 35.99%
Term2-72 months
Loan Amount$500-$35,000
Loan TypesPersonal Loan
Minimum ScoreDepends on the lender
FeesDepends on the lender
CollateralDepends on the lender


Some of the advantages of 5k Funds include:

  • The application process is entirely secure and unbiased and assures you a fair evaluation of your case.
  • The application process is free, and the process is completely online without having to rot in lengthy bank queues. 
  • Once you get the approval of loan, you will receive the amount in your account the next business day.
  • The lenders that 5k Funds links you with are utterly genuine with authentic credentials and highly reputable. 
  • 5k Funds offers complete transparency so that you are aware of all the steps and requirements beforehand. 
  • 5k Funds never asks you for your previous credit score; hence this won’t be a hurdle to applying for a loan. 
  • As mentioned previously, 5k Funds offer only the unsecure loans without any collateral.
  • It is undoubtedly one of the eminent lending marketplaces in the United States. 
  • Preapproval of loans is done instantly within a few minutes. 


  • It is still not available in several states like New York, Connecticut, West Virginia, and others. 
  • Some lenders might as well run a credit check
  • There might be an associated fee depending on a lender. These are usually origination fees and prepayment penalties
  • You won’t get any information about the lenders until you are pre-qualified. 
  • One major drawback is that there is no live chat session
  • It has an F rating on BBB

Eligibility Criteria for 5k Funds 

5k Funds has a specific eligibility criterion that you have to abide by to get loans through this platform

  • You must be above 18 years of age. 
  • Only a US citizen can apply for a loan through this platform. 
  • You must have a sustainable source of income. 
  • Some citizens might do a soft credit check, but it is not a problem even with a low credit score. 
  • There is no minimum range of income you need to earn. 
  • You do not need to specify any minimum length of credit history
  • You must have a bank account
  • The bank account must also support the direct deposits. 

How to Apply for the 5k Funds Loans?

The application process for 5k Funds is relatively easy and requires a few general steps.

Below are the steps mentioned you need to follow to complete the application process of 5k Funds:

  1. Go to the website of 5k Funds. 
  2. Click on Get Started to begin with the application form. 
  3. You need to select the required amount and the time range of your loan. 
  4. Next, fill in other details required, such as personal information. 
  5. Once done, upload the official documents they ask you for. 
  6. After this, you need to wait for the verification process from 5k Funds. 
  7. Lastly, they will also confirm the loan availability. 

Quick Overview of Pre-requisites to Apply for 5k Loans

You need to have the following set of information before applying for a loan on the 5k Funds:

  • Your full name, email address, contact number, and respective residential address. 
  • Next, you need to have employment information, i.e., the name of employer, duration of employment, payment frequency, gross monthly income, and pay date. 
  • Identification details include your passport number, social security number, drivers’ license number, ABA routing number. 
  • Lastly, you must have your bank account information, including bank name, account number, and the type of account. 
Attention! As soon as you are done filling out the application, 5k Funds will find the perfect lender for your needs. During this time, you can view several offers and make a comparison to know what suits you the best. 

5k Funds Fee to Watch Out For!

5k Funds does not charge you a penny for any step. It is free of cost starting from the application process to the final phase of helping the borrowers with the loans. 

On the contrary, the lenders might charge you a specific fee which varies from lender to lender. You must have to pay this fee or interest to get the loan. 

  • In addition, there are also zero hidden fees and prepayment penalties. 

What Are the Payment Terms of 5k Funds?

Talking about the repayment terms to the lenders linked with 5k Funds, the period ranges from 2-72 months, as mentioned above. 

You can conveniently make a payment in two ways, whatever is feasible for you. It may allow an automatic deduction of the respective amount from your bank account, or either manual feature.

You can make the loan payments monthly or every two weeks, depending upon your lenders’ set of policies and rules. 

Note! B Before finalizing your lender, please make sure that you know all the costs and financial repercussions to avoid any problems in the future. 

Customer Service

Despite many credible features, this is one of the significant downsides of the 5k Funds. The customer support of 5k Funds is poor, and you would have to struggle to get to their customer support to guide you through various aspects. 

  • There is no on-call or even a live chat feature to get in touch with customer service to clear your queries beforehand. 

You will directly drop an email to contact the concerned authority for all your questions. 

The Bottom Line

5k Funds has been an excellent service providing free loan comparisons for almost 6 years now. It successfully connects the potential borrowers and lenders through their platform, that too free of cost.

  • In addition, it is a 100% online marketplace, and the channel is perfectly secure to prevent any personal information from popping out.

However, your lenders can charge you with a certain amount of fee, so make sure you are clear with all the terms and conditions before proceeding further. The application process is relatively quick and convenient. 

Frequently Asked Questions About 5K Funds Reviews

Do 5k Funds do a hard pull?

5k Funds does not run a credit check on you themselves. However, your potential lender may have a soft look at your credit score before agreeing to lend you a loan. 

What credit score do you need for 5k Funds?

5k Funds usually does not require a credit check, but still, your FICO score should be 600 or above for the amount of a $5000 loan. 

How much time is required to get a loan from 5k Funds?

You can compare the loans offered after completing the application process. Once done, you will probably receive the requested funding on the next business day.

What to know if I want to make a late payment?

Connect to your lender directly to avoid any additional penalty fee. It varies from lender to lender.