Editorial Disclosure: The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone.

FreedomPlus Overview

If consolidating debt is your goal when taking out a personal loan, FreedomPlus will give you that, well, freedom. Sometimes you need money fast (maybe even two business days fast) and this is one lender that can deliver on that promise.

With FreedomPlus you can borrow anywhere from $10,000 to $40,000 and do, literally, anything with the money. If it’s other debts you’re trying to pay off, FreedomPlus will even contact those lenders and pay them for you directly so you don’t have to. Whether you want to start a new business or put your kid through college, pay for your own wedding or put money down on a home, FreedomPlus has options for everyone with Annual Percentage Rates (APRs) starting at just 5.99 percent. 

Credit Score Requirements

You do need to have a decent credit score if you’re hoping to be approved for a loan with FreedomPlus. The lender requires a minimum FICO Score of 620+, but doesn’t require collateral and does not penalize you for prepayment, either, which is great news. FreedomPlus has an A+ Better Business Bureau accreditation so you can rest assured, when you take the leap, that you’re borrowing from a reputable source.

How To Apply

Speak with a loan consultant every day of the week but Sunday. They’re always available to chat Monday through Friday from 6am to 7pm MST and Saturday from 7am to 3pm MST. Your best bet for fully understanding what the lender has to offer is hopping on a call and asking any and every question under the sun until you have all the answers you need to make an informed credit decision. Loan lengths with FreedomPlus can range from two to five years and, believe it or not, the lender offers plenty of discounts. Apply with a qualified co-borrower, and chances are you’ll score a discounted rate. There’s also the direct pay discount, which will reduce your interest rate when you use your FreedomPlus loan to consolidate other debts. There’s also the retirement assets discount, which encourages saving. If you’ve saved up at least $40,000 for retirement, FreedomPlus may toss you a bone by lowering your rates. Another huge plus? FreedomPlus does not charge an origination fee, while many other lenders do.

Pros and Cons

As with any loan or financing situation, there are pros and cons to borrowing from FreedomPlus. The negatives with this one aren’t terrible or vast, but they include APRs that can go all the way up to 29.99 percent based on your credit history. Also, if it’s a small loan you’re looking to apply for, this probably isn’t the one for you. If you just need a few thousand dollars, keep doing your research and go with another lender. While $10,000 to $40,000 is great for some borrowers, others may just need a mini boost. It’s always better to borrow an amount you know you’ll be able to pay back comfortably within a five-year period. FreedomPlus offers loans in 35 states. If you live in New York, Colorado, Hawaii and Vermont, to name a few, you’ll have to choose a lender that’s available in your state of residence.

This one’s an overall solid choice, though, if you have good credit and qualify for any of the discounts offered by FreedomPlus. Remember that it’s important to trust your lender and FreedomPlus is highly rated by past borrowers.

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