5K Funds Review - Personal Loans

Application & Approval Process
Rates & Fees
Payment Terms
Customer Support & Benefits

About 5KFunds

Established in 2012, operating out of Boca Raton, Florida, 5KFunds is an online marketplace offering a free comparison of loans from their trusted network of lenders. While they do not provide the lending service directly, they use the information supplied by the consumer to deliver a quick and easy online quote; subsequently connecting them to an appropriate lender. 

The quotes are freely accessible to all applicants and are 100% obligation-free, plus there is no minimum credit score required for applicants. Fees vary considerably from lender to lender.

As per the 5KFunds policy, all of their recommended lenders are vetted through a strict and thorough process. Only the most reputable and trustworthy loan providers make it through this process, leaving a network of responsible lending practices for their customer base.

5KFunds offer personal (unsecured) loans to a wide array of customers for purposes such as home repairs, holiday shopping, and unexpected expenses. As the loans are unsecured, this means that the loan is not tied to any personal assets such as property or any other form of equity. 

5KFunds lenders offer up to $35,000 with a maximum loan period of 72 months. Once the customer has received their quotation and wishes to proceed, the funds are often available in their account via direct deposit the next working day.

As a free loan marketplace, 5KFunds is a great way to discover the best possible loan deals from over 100+ responsible lenders with no minimum credit score required.





  • 100% free service offering no obligation quotations
  • No credit checks in the initial application process 
  • Receive your money as fast as the next business day 
  • Reputable lenders that meet responsible lending standards 


  • Limited pre-application information on the site regarding lenders 
  • Limited customer support

Key Highlights

  • No minimum credit score to apply, which opens to the door for people with poor credit history.
  • The choice of lenders gives competitive interest rates with a range of APR to choose from. 
  • The loans are unsecured, meaning borrowers can be assured that their personal assets are not at risk.
  • Money is transferred straight into your bank account, as fast as the next business day. 
  • Lenders are reputable and vetted, protecting you from unfair and illegal practices that may occur in the personal loan industry. 
  • Short term loans at competitive interest rates, up to a maximum of $35,000.
  • The whole application can be carried out online, making it quick and simple to complete. 

Application & Approval Process


The application process is done entirely online and requires no initial credit check. This aims to make the process quick and simple, relieving you of filling out inconvenient paperwork and thus connecting you to lenders in as little as 90 seconds. 

5KFunds is a marketplace platform that helps you to find an appropriate lender for your desired level of borrowing and loan term length. Therefore, it requires only basic information to qualify you for the pre-approval. 

Before submitting your request, ensure you meet the following criteria:

  • You must be 18 or older 
  • You must be a US citizen 
  • You must possess a bank account 
  • You must be able to confirm a steady source of income

Once you click ‘Get Started’ on the 5KFunds webpage, you will be taken through a series of pages asking for your personal details. You can expect to answer the following details:

  • The desired loan amount and repayment term
  • Personal information, such as name, address, phone number
  • Employer information such as name, length of time employed, salary
  • Bank details 
  • Driver’s License 
  • Social Security Number 

After the pre-qualifying questions, you will be directed to the lender’s offers. Based on the information you provide; the website will offer you a choice of creditors that they deem suitable. 


Once you have entered your details in the application process, you should be able to access your list of personalized loan offers based on your requirements. These offers will typically vary in APR and repayment terms, so it is important to double-check the information before proceeding.

At this stage, customers will have only secured a pre-approval. To complete the process, customers must click the desired loan offer and finalize the application on the loan providers’ website directly. 

For the majority of lenders, you will not need to re-enter the information that has already been provided. However, at this stage, the creditor will typically ask for more detailed information such as proof of address, tax records, and employment contracts.


The customer must wait for the lender to approve the loan, which usually happens on the same day (subject to a successful credit check). Once this has been done, the funds should be dispensed into the designated account as soon as the next business day.

This varies from lender to lender as 5KFunds does not control the individual terms and conditions of each provider that they recommend.

Rates & Fees

Based on the information you provide in the initial application, the website will offer you a choice of loan providers that fit your requirements. Each lender will have its own independent rates, and the terms and conditions will be made known to you before you acquire the loan. 

The APR rates vary between 5.99% and 35.99%. The cost of the personal loan will depend on varying factors such as the borrower’s personal details, their circumstances, the chosen lender, the loan amount, previous credit history, and the term of the loan. All rates and fees will be made clear after the pre-approval process and before the loan is accepted.

5KFunds does not charge a fee for their service to borrowers. Instead, they are paid for lead generation on a commission basis by each recommended creditor. Any fees, costs, and penalties are all decided by the loan provider.

Payment Terms

5KFunds connects you to lenders and does not provide the loan itself. Therefore, it does not determine the rates or repayment terms. These are decided by the lending partners; consequently, the payment terms may vary considerably between them. 

Repayment is usually expected once or twice a month and is dependent on your preferences or the loan providers’ terms. With some lenders, it is possible to have payments debited automatically from your bank account, helping you to avoid missed/late payments. 

It is important that you consult your loan provider if you have any queries regarding the rates or fees. You are under no obligation to accept the loan if you do not find the terms satisfactory. Prepayment penalties will vary by lender and will be detailed before the loan is accepted.

As mentioned, the repayment term ranges from 61 days to 72 months.

Customer Support & Benefits

5KFunds has a US-based Customer service team that is available by post or email 24/7. There are no official opening times, but they seem to be respondent to emails. Unfortunately, there is no phone number or live chat facility available on their website, but they encourage contact directly with the lenders. 

There is an FAQ section on the website, covering questions in regard to fees, late payments and the purpose of a personal loan and how it can benefit you in times of need. However, the information is limited, and in most scenarios, the debtor is asked to contact the lender directly. 

Contact Details

Address: Sincerely, LLC. 7050 West Palmetto Park Road #15-345 Boca Raton, FL 33433

Email: [email protected]




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