RISE Personal Loan Review
pros and cons
It’s hard to find loans for bad credit, and you may be able to qualify with loan much more affordable by paying your loan off early. Not making a lot of money? Learn how to get out of debt on a low income.
requirements
doesn’t provide many details about what you need to get approved for a loan. Here’s what we know:
- Age: Be at least 18
- Residency: Live in one of the 30 states where loans are available
- Employment: Need a job or other source of income
- Administrative: Need a valid checking account and email address
- Military status: Not available to military members due to legislation that protects military borrowers from loans with high rates
If ’s loan options won’t work for your borrowing needs, shop around for a lender that helps you meet your financial goals and can offer you the best-fitting rates, terms and amounts.
How to get a personal loan with
Here are the basic steps for getting a loan:
Prequalify
When you prequalify, or check your eligibility and rates, you’ll enter basic information like your name, address and Social Security number in ’s online loan application. will do a soft credit pull to see if you qualify. This won’t impact your credit.
See your rates and eligibility
will either make you an offer or deny your application. Your loan offer will include information about how much money you can borrow, your interest rate and repayment schedule.
Close on the loan
If you choose to move forward, will run a hard credit check on your report. This is standard practice for personal loan lenders. You could get your money as soon as the next business day.
Unlike most lenders, allows you to change your mind and return your loan money after signing an agreement — as long as you do it within five business days.
If denies your loan application, you can take charge of your finances by working to improve your chances of getting approved for a personal loan.
How compares to other personal loan companies
Even if you believe aligns with what you’re looking for in a personal loan, it never hurts to shop around and compare other lenders. Here’s how stacks up against similar personal loan lenders.
| Lender | Upstart | ||
|---|---|---|---|
| LendingTree’s rating | /5 | /5 | |
| Minimum credit score | |||
| Interest rates or APRs | Interest rate range (excludes potential fees): | APR range (includes potential fees): | APR range (includes potential fees): 7.23% to 24.00% |
| Loan amounts | Not specified to $125,000,000 | ||
| Repayment terms | months | months | 12 to 84 months |
| Origination fee | |||
| Funding timeline | Get money as soon as the next business day | Get money as soon as the same business day | Get money as soon as the next business day |
| Bottom line | offers small loans and fast funding. That said, even the starting rate is higher than financial experts recommend, and you may end up paying more in interest than you borrow in the first place. | Like , is an installment lender with high rates and short repayment terms. Its maximum rate is lower than ’s, making a potentially more affordable alternative. | Upstart is a cheaper alternative to both and . It charges lower rates and allows you to borrow more money, which could make it a better fit for many borrowers. |
How we rated
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings.
Frequently asked questions
Yes, RISE checks your credit as part of the application process, but you can still check your rates by prequalifying before committing to a hard credit check that will affect your credit score.
RISE funds loans quickly. You may get an application decision within seconds, and RISE funds some loans by the next business day if you agree to terms.
Yes, RISE is a legitimate company offering installment loans for bad credit. That said, its loans can be extremely expensive. If you take out a loan with RISE, pay it off as soon as possible to save money on interest. You can also consider debt relief options if you’re struggling to make ends meet.
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