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Frequently Asked Questions
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- What is a personal loan?
- A personal loan is a way for an individual to receive up to $35,000 in funding. It is a loan that can be used for home enhancements, item purchases, vehicle repairs or large purchases. The length of the loan is called the term and can range all the way up to 180 days, depending on the lender!
- Are there any fees?
- 5kfunds services will always be provided free of charge, but that is not to say that the lender will give you a loan for free. Your lender will charge you fees and/or interest and must provide you with full disclosure of their loan terms upon approval. It is then your responsibility to read through the terms before signing your loan agreement.
- What are the repayment terms and APR?
- Annual Percentage Rate (APR) is a measure of the cost of credit, expressed as a nominal yearly rate. It relates to the amount and timing of value received by the consumer to the amount and timing of payments made. 5kFunds cannot guarantee any APR since we are not a lender ourselves. Annual Percentage Rates (APR) start from 5.99% up to a maximum of 35.99% for qualified users.