If it’s your first time considering a personal loan, it may seem a bit scary. You don’t know how the
process works or what to expect. Plus, you may think applying for your first personal loan without
any credit history is impossible. You should know that many lenders work with borrowers with a wide
range of credit history to find a solution that works for them. Even if you have limited credit history,
you may still be able to obtain a personal loan with a simple online application process. Online lenders provide fast funding from $2,500 to $25,000¹ with an application you can fill out from the comfort of your home.

A personal loan is money borrowed from a bank, credit union, or online lender that you pay back in fixed monthly installments. It allows you to obtain a lump sum of money and repay those funds over time. Generally, the funds from a personal loan can be used for almost any purpose, and most lenders have few restrictions on how the funds may be used. You can use the funds from a personal loan to pay for a wide variety of individual needs such as unexpected expenses, appliances, medical emergencies, special occasions, or even vacations.

For those new to borrowing, a first-time personal loan can be an excellent way to build credit and secure some much-needed money to use almost any way that you want. The funds from a personal loan can help you get over a financial hump, pay down debt faster, or cover an unexpected expense. A personal loan can also help you purchase a big-ticket item without draining your savings. With online lenders, you can often get the cash deposited in your checking or savings account the next business day after approval.

Before taking out a personal loan for the first time, you will want to shop around for the best options,
compare rates and terms, and consider what payment will fit into your monthly budget. Online lenders offer an easy, fast, and flexible way to take out a first-time loan and pay it back over time with fixed rates. Loans through Reprise can also be customized to meet your needs and payment preferences with no prepayment penalties.

Prior to submitting a loan application, consider checking for personal loan offers with different
lenders. With online lenders, you can usually check for offers with a prequalification request that
requires a soft credit check, which will not impact your credit score. However, prequalification does not guarantee approval, as your information must be verified after submitting a complete loan application.

Most personal loans are unsecured – meaning that you won’t need to provide upfront collateral – or
are secured by personal property, such as your vehicle. Online lenders will look at the total picture of a person’s application to find a product that works best for each applicant. If you have a fair credit score, limited credit background, or you’ve hit a few bumps along the way, Reprise can help you find the personal loan that’s right for you.

After considering your options and choosing your loan type, you can begin the application process. Before you apply, gather your personal information, such as proof of income, bank statements, and identification. If you go through an online lender, you can begin submitting your documents and filling out your online application. Reprise Financial will work with you throughout the steps to help you understand the application process and what to expect after providing your information for verification. Reprise also has real people available to answer questions along the way.

  1. Reprise Financial gives you a fast and easy way to get the funds you need.
  2. With Reprise, you can view your offers in seconds without affecting your credit score.
  3. Personal loans through Reprise come with fixed rates and fixed monthly payments.
  4. Reprise has customized options to meet your needs and payment preferences.
  5. With Reprise Financial, funds are available as soon as the next business day after approval in your checking or savings account.

¹The $25,000 loan amount is inclusive of the amount financed and any applicable fees. Not all applicants will qualify for the maximum $25,000 loan amount.