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Reviewed By
Reviewed By
Published: Jun 9, 2022, 1:12pm
Possible Finance is an online lending platform designed to help borrowers with limited credit history borrow up to $500 through its mobile app or website. Unlike a payday loan, which requires repayment on your next paycheck, you have up to two months to pay back a Possible Finance installment loan.
Possible Finance is best for prospective borrowers who:
Possible Finance may not be right for prospective borrowers who:
Possible Finance offers installment loans of up to $500 that you apply for through its app. You don’t need to pass a credit check to qualify, but you will need to link a bank account that shows at least two months of income.
According to Possible Finance, over 80% of customers get an immediate decision and almost all get a decision within one day. You can choose to have the funds deposited into your bank account within one to two business days or loaded onto your debit card within a few minutes.
Once you receive your loan, you’ll pay it back with four equal payments over two months. You’ll have at least seven days before your first payment is due, as well as a grace period of 29 days during which you can adjust your payment due dates.
Personal loan applications are approved or declined based on a number of factors. All lenders have their own unique underwriting requirements. Typically, these include information from an applicant’s credit profile and other factors that demonstrate the ability to repay the loan, such as income. Meeting the requirements below won’t guarantee approval, but they can help you decide if a Possible loan is the right fit for you.
There is no credit score requirement for a Possible Finance loan. When you pay back the loan, Possible Finance will report your payments to two of the three credit bureaus—Experian and TransUnion—which can help you build credit.
Since Possible Finance doesn’t check your credit when considering you for a loan, it relies heavily on your bank account activity. It looks at factors such as your bank account balance, weekly income, consistency of deposits, number of returned checks or insufficient funds fees, and monthly cash flow.
Specifically, you’ll need a monthly income of at least $750 and consistent deposits over at least a two-month period. If your average bank account balance is often low or negative, Possible Finance may deny your application.
If you’re not approved for a Possible Finance loan, you can reapply in three days. However, you’ll need to improve your financial situation for your application to be successful.
Possible Finance allows for co-signers on its installment loans. Applying with a co-signer could help you qualify if you don’t meet the lender’s income requirements.
You can apply for a Possible Finance installment loan through the company’s app.

On the Better Business Bureau (BBB), Possible Finance has a score of 4.46 out of 5 stars based on 263 customer reviews. Satisfied customers said the loan process was quick, easy and convenient, while some dissatisfied customers said they were approved for a lower loan amount than they requested. Some customers also left complaints on the BBB website, but Possible Finance answered or resolved many of them.
Possible Finance only has four reviews on TrustPilot at the time of this writing, with three customers giving it an excellent rating and one customer citing a poor experience. One satisfied customer said that Possible Finance approved them for a loan despite issues with their finances, writing, “I would recommend them to anyone in a short-term bind needing immediate assistance.”
The unhappy reviewer said that Possible Finance took a long time to help them update their information after they were declined for a loan and that they need to “do business in a more efficient, timely manner.”
On the Apple App Store, Possible Finance’s app has about 87,000 reviews for an average rating of 4.8 out of 5 stars. It has an average rating of 4.5 stars based on approximately 45,000 reviews on Google Play.
While Possible Finance can offer fast, small loans to bad credit (or no credit) borrowers, it charges higher APRs than some other personal loan lenders. Here’s how Possible Finance installment loans stack up against competitors.
Upgrade offers personal loans starting at $1,000, so it might be a better option than Possible Finance if you need to borrow more than $500. In fact, you can borrow up to $50,000 with Upgrade and APRs start around 6% and go up to 36%. Since Upgrade’s rates are much more competitive than Possible Finance’s, it might be worth checking if you can qualify for one of its personal loans before borrowing a Possible installment loan.
Upgrade requires a minimum credit score of 580 to qualify, which makes it a viable option for prospective borrowers with damaged credit.
Related: Upgrade Personal Loans Review
Possible Finance offers small loans up to $500, but SoFi funds personal loans between $5,000 and $100,000. SoFi’s competitive APRs start around 6%, but you’ll need to pass a credit check to qualify. SoFi requires a minimum credit score of 650. If you can’t qualify on your own, you may consider applying with a co-borrower, such as a spouse or trusted friend.
Related: SoFi Personal Loans Review
Similar to SoFi, LightStream also offers personal loans from $5,000 to $100,000, depending on the loan purpose, with competitive APRs starting in the single digits. While Possible Finance funds short-term loans, LightStream lets you pay off your loans over two to 20 years. You must have a minimum credit score of 660 to qualify for a LightStream personal loan.
Related: LightStream Personal Loans Review


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We reviewed Possible Finance based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated Possible Finance based on the weighting assigned to each category:
Within each category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges and applicable fees. We also looked at credit score requirements, whether the lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated Possible Finance’s support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps.

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