Denny Ceizyk
Written by
Rhys Subitch
Edited by
Updated on April 30, 2024
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At a glance
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4.1
Rating: 4.1 stars out of 5
Bankrate Score
Availability
Rating: 4.8 stars out of 5
4.8
Affordability
Rating: 2.8 stars out of 5
2.8
Customer Experience
Rating: 4.7 stars out of 5
4.7
Transparency
Rating: 4.2 stars out of 5
4.2
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
About Bankrate Score
Full methodology
Bankrate’s take: Possible Finance provides no-credit-check loans with longer repayment options than payday loans offer. The lender’s 29-day payment grace period gives borrowers added repayment flexibility.
Lender Details
Loan amount
Up to $500
APR from
151.70% to 460.00%
Term lengths
Up to 8 weeks
Possible Finance is best for longer repayment terms than payday loans
If you’re in a cash crunch and need more than two weeks to repay the money you borrow, a Possible Finance loan may help you bridge the gap with up to $500. With repayment terms of up to eight weeks, you’ll have more time to juggle your finances and get caught up than you would with a payday loan. Funds may be available within minutes of approval, which can be a major relief if you need emergency funds.
Possible Finance personal loan purposes
Although the lender's website doesn’t list any limits on how your funds are used, the $500 loan cap makes them a good fit for small necessary expenses, like utility bills, groceries or gas to get you to work. The fees can be steep depending on where you live, so it’s best to only use the funds for emergencies after you have exhausted other options.
Where Possible Finance stands out
- Same-day funding available: You may have funds within hours of submitting your application if you have an approved debit card. Otherwise you’ll usually receive funds within five business days.
- No credit check: Possible Finance doesn’t consider your credit score to qualify. Instead, it reviews your income and banking activity.
- Longer term with flexible grace period: With payment plans as long as eight weeks, you’ll have more breathing room to repay the loan. An additional 29-day payment grace period can give you extra time if you need it.
Where Possible Finance falls short
- High APRs: The APR for a Possible Loan with a term of eight weeks may be lower than a payday loan, but it’s still in the triple digits, making it a costly loan option.
- No phone support: The lender’s website only offers an email contact form, with no published phone support number or hours.
- Not available in all states: Possible Loans are currently only available in 21 states.
- Minimum income requirement: You may not qualify unless you can verify a monthly income of at least $750.
Possible Finance customer experience
Customer support
Possible Finance doesn’t list a customer support phone number. There is a contact form with instructions to submit a request between 10 a.m. to 5 p.m. PT, but it’s not clear if that is seven days a week or just weekdays.
Digital experience
Possible Finance’s average App Store rating is 4.8 out of 5 stars with more than 103,000 reviews given. Feedback consistently cites the ease of getting approved and receiving funds. It appears that Possible Finance has representatives that monitor feedback on the app to address concerns that users have, which is an added customer service touch that many other lenders don’t match.
What people are saying about Possible Finance
Possible Finance scores a 4.5 out of 5 stars on Trustpilot, with the majority of the reviews describing a good experience with easy approval and fast turnaround times.
"Very fast approval process and they’re very flexible when you can pay back! 10/10 recommend when you’re in a tight spot honestly."
— Trustpilot User
Most negative reviews were from users who had bank connection issues or weren’t able to get approved for a second or third loan after paying previous loans off. Possible Finance provided individual responses to negative reviews with contact support information.
Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate. Please see the issuer’s website for updated terms and conditions.
How this lender compares
Rating: 4.1 stars out of 5 4.1 Bankrate Score
APR from
151.70% to 460.00%
Loan Amount
Up to $500
Term Length
Up to 8 weeks
Min Credit Score
Not disclosed
on Bankrate
Rating: 4.3 stars out of 5 4.3 Bankrate Score
APR from
34.00% to 99.99%
Loan Amount
$1,000-$10,000
Term Length
6 to 60 months
Min Credit Score
Not disclosed
on Bankrate
Rating: 4.2 stars out of 5 4.2 Bankrate Score
APR from
160.00% to 179.00%
Loan Amount
$500-$4,000
Term Length
9 to 18 months
Min Credit Score
Not disclosed
on Bankrate
Possible Finance vs. NetCredit
Possible Finance is the better choice for loan amounts of $500 or under, since NetCredit doesn’t offer loan amounts below $1,000. NetCredit also doesn’t currently offer a phone app like Possible Finance does, so you’ll need to rely on its phone or online support for questions.
NetCredit’s APRs are much lower than Possible Finance, and it even offers a fee saving program if you make a series of payments on time. NetCredit also offers repayment terms as long as 60 months, giving you far more time to repay your loan than the eight week maximum offered by Possible Finance.
Possible Finance vs. OppLoans
OppLoans offers terms that start at nine months — much longer than Possible Finance's maximum of eight weeks. But Possible Finance has a 29-day grace period that gives you extra payment flexibility not offered by OppLoans.
OppLoans offers much lower APRs than Possible Finance — as low as 10.99 percent for OppLoans borrowers on Bankrate. Even the average funded APR for OppLoans borrowers on Bankrate was 159.60 percent, only slightly more than the 151.70 percent minimum APR offered by Possible Finance.
Do you qualify for a Possible Finance personal loan?
Standard qualifying requirements for a Possible Finance loan include:
- A valid bank account with a positive balance.
- Income of at least $750 per month.
- Proof of regular income deposits.
- Minimum returned checks and insufficient funds fee on your bank account.
How to apply for a personal loan with Possible Finance
- Get a quote: Download the possible finance app or use the online prequalification form.
- Add information and finalize your application: You may need income information, including contact information for your employer and proof of recent direct deposits of your paycheck. Your bank account information is required for the lender to check your activity for approval.
- Review the loan details: Your loan amount will be based on a variety of factors including your recent income and bank balance. If you’re approved, follow the instructions to finalize the loan and get your cash.
How Bankrate rates Possible Finance
| Overall Score | 4.1 | Explanation |
|---|---|---|
| Availability | 4.8 | Highly rated app for quick approval and same day funding if tied to an approved debit card. |
| Affordability | 2.8 | Very high APRs and fees that vary based on where you live. |
| Customer Experience | 4.7 | No phone support, only email form with limited daily hours. |
| Transparency | 4.2 | Credit requirements are spelled out in support section along with costs you’ll pay in your state. |
Methodology
Bankrate's trusted personal loans industry expertise
Read our full methodology
48
years in business
30
lenders reviewed
20
loan features weighed
665
data points collected
Bankrate considers 20 factors when reviewing lenders. Credit requirements, APR ranges, fees, loan amounts and flexibility are all taken into account so that ratings are representative of how competitive lenders are for a wide range of credit profiles and budgets. The Bankrate Score for personal loans consists of four categories:
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.
On This Page
On This Page
- At a glance
- Possible Finance is best for longer repayment terms than payday loans
- Where Possible Finance stands out
- Where Possible Finance falls short
- Possible Finance customer experience
- How this lender compares
- Do you qualify?
- How to apply
- How Bankrate rates Possible Finance
- Methodology
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