FreedomPlus Personal Loans Review | The Simple Dollar

FreedomPlus is an online lender that focuses on offering affordable personal loans to consumers with less than stellar credit. Personal loans offered through this lender are arranged by Freedom Financial Asset Management, an asset management firm for accredited institutional accounts. FreedomPlus is also affiliated with the Freedom Financial Network (FFN), which provides consumer advocacy services such as debt consolidation and debt relief through companies such as Freedom Debt Relief, Bills.com, and Consolidation Plus.

Borrowers who need to consolidate high interest debt, pay for a large purchase over time, or take on a home remodeling project may find FreedomPlus has the perfect loan for their needs. This direct lender features generous loan amounts and flexible repayment terms with interest rates as low as 5.99% APR for those who qualify. Their straightforward and fast loan application process can also help you get the funding you need in a matter of days.

FreedomPlus Personal Loans: Key Takeaways

  • Borrow between $7,500 and $40,000 and receive your funds within a few business days.
  • Repayment terms are offered between 2 to 5 years.
  • Interest rates range from 5.99% to 29.99% APR.
  • Pay an origination fee between 0% and 5% of your loan amount.
  • No prepayment penalty or hidden fees.

FreedomPlus Personal Loans: A Solution for Borrowers with Imperfect Credit

While FreedomPlus doesn’t list specific credit requirements for their personal loans on their website, they do imply they are willing to offer loans to consumers with less than perfect credit. Not only does the FreedomPlus homepage spread the message that “you are more than your credit score,” but they also note that their loan consultants will go “beyond your credit score to qualify you for a loan.”

If you need to borrow money but your credit isn’t great, this detail is important. It’s possible FreedomPlus will approve you for a personal loan when other lenders will not, although you will likely pay a higher interest rate if your credit score needs work.

Why should you apply for a personal loan from FreedomPlus over other lenders? There are many reasons, including the fact you can borrow between $7,500 and $40,000 with a fixed interest rate and fixed monthly payment. Your interest rate can be as low as 5.99% APR depending on your creditworthiness, and you may or may not have to pay an origination fee up to 5% of your loan amount. Aside from the origination fee, FreedomPlus loans…

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