5KFunds Personal Loan Review

5KFunds Personal Loan Review

Get multiple personal offers fast and easy in one application with 5KFunds

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What is 5KFunds?

5KFunds is a loan marketplace that allows you to apply for loans from $500 to $35,000. There is no minimum credit score required when applying for a loan with 5KFunds, and you can potentially get approved even with bad credit.

If you’re looking for a personal loan, but you have less than excellent credit, 5KFunds can match you with the best lender to help you get approved. They also partner with lenders offering payday loans and installment loans, so be sure to read and understand the interest rate and fees before accepting the loan.

Why trust CreditPug? We are an independent editorial team with a mission to educate Americans on the importance of good personal finance.   

  • Personal loans from $500 to $35,000
  • Straightforward process; easy to use website
  • Fast approval
  • Network of 100 partner lenders
  • Not strict when it comes to loan purpose
  • Interest rates from 5.99% to 35.99%
  • Completely free and safe to use
  • Different lenders may have some additional charges
  • Hard credit check may be run during application depending on the lender
  • SSN and bank account details required for initial application

5KFunds personal loan features

Who they’re best for:

  • Accepts people with bad credit score: 5KFunds have no discrimination against people with a good or bad credit score. It will match you with the lender that offers you the best chance of approval based on the information provided.
  • Can connect you to multiple lenders fast: They provide hassle-free applications that are processed within minutes and sent to different lenders, as opposed to manually sending out applications one by one.
  • Fast approvals and fast deposits: If you qualify for a loan, you can get your cash within the day.

Why you’ll want to look elsewhere:

  • Need to provide sensitive information: Some people are uncomfortable providing their SSN and bank information, especially when they haven’t even qualified for a loan yet. 5KFunds require these data, among other personal information, in the initial application.
  • Some lenders might perform a hard credit pull: Some lenders may perform a hard credit check that can hurt your credit score.
  • Prone to spam with calls and texts from different lenders: Expect a lot of calls and texts from different lenders after submitting your application through 5KFunds. Some also allegedly received spam texts and calls.
  • Limited customer support: 5KFunds does not have intensive customer support features, though they provide a contact email in case of inquiries

5KFunds Loan Requirements

These are the requirements for a personal loan if you want to apply through 5KFunds:

  • Citizenship: US citizen
  • Age: Minimum 18 years old
  • Income: Have at least one regular source of income. They don’t specify a dollar amount but based on our experience, you’ll need to earn $1,200 or more per month.
  • Credit score: As they are a broker meaning the minimum credit score is dictated by the lender that approves you. Their service matches you with a lender that will approve you. Our recommended minimum credit score is 580
  • Bank account: Have an active savings or checking bank account accepting direct deposits (their website recommends using a checking account)

Is 5KFunds legit?

Yes, based on our research, 5KFunds is legit. They are owned by the firm Salem Capital Investment Group LLC and registered under DV Advertising. 5KFunds is headquartered out of Boca Raton, Florida and has been in operation since 2015. They claim to have helped hundreds of thousands of Americans get a loan.

  • Trustpilot score: 5KFunds has a 2 star rating on Trustpilot with 12 total reviews, with 75% rating this lender as bad. Important to recognize that this is a small sample size for an overall rating.

Sites like 5KFunds

5KFundsUrban Bad Credit LoansSoFi Personal Loan
Est. APR
Est. APR
Est. APR
Est. Loan Term
61 days – 72 months
Est. Loan Term
18-60 months
Est. Loan Term
24-48 months
Loan amount
$1,000 – $35,000
Loan amount
Loan amount
Min. Credit Score
Min. Credit Score
Min. Credit Score
Min. income
$1,200 per month*
Min. income
$1,200 per month*
Min. income
$3,750 per month
Details marked with an asterisk (*) are creditpug estimates.

How to apply for a loan with 5KFunds

To apply for a loan with 5KFunds, simply go to their website and provide all the required information. After submitting your application, they will forward your information to their partner lending companies for review. This will take a few minutes. 

If you pre-qualify for loans, the website will give you access to a list of loan offers that matches the information you provided. Make sure to read the loan’s offers, rates, and terms before proceeding. Once you have chosen your loan, accept their offer and wait for the funds to be deposited into your account.

Wrapping up

Getting approved for a personal loan takes time, especially when you have a bad credit score or credit history. Lending platforms like 5KFunds give you the convenience of filling up a single application and checking multiple loan offers almost instantly. It is a free and safe platform to compare rates from different lenders and get the best offer for your needs. More importantly, you can apply and get loans even with a bad credit score.

5KFunds is best for Americans in a financial pinch who are looking for a straightforward loan application with flexible repayment terms and quick processing time. The only catch is providing your sensitive data and consent for lenders to pull a hard credit check.

Loan amount

Min. credit score

Est. APR
5.99% to 35.99%


New users only

Application simplicity
User experience
Customer Service
3.3 Overall Rating

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5KFunds Personal Loan Review