Freedom Plus title logo

Our Rating: 86%


Freedom Plus Personal Loan Review

Loan Amount:
$7,500 - $40,000
Minimum Credit Score:
APR IconAn illustrated APR Icon.
APRs From:
7.99% - 29.99%
Funding Speed:
Within 48 hours

Features of Freedom Plus Personal Loans


  • Quick funding (within two business days)
  • Option to change your payment date
  • No prepayment penalties
  • Simple online application process
  • Autopay rate discounts
  • Joint loans
  • Increase your change of approval by adding a co borrower
  • Offers direct payment to creditors with debt consolidation loans


  • Availability varies by state
  • High minimum loan amount
  • Origination fee

About Freedom Plus Personal Loans

A FreedomPlus personal loan can get you money to consolidate credit card debt, make some home improvements, start a business, or make a large purchase. FreedomPlus offers loans of up to $40,000 with competitive interest rates and quick approvals that can get the money in your account in as little as 48 hours. Freedom does charge an origination fee of 4.99 percent.
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Est. APR
7.99% - 29.99%
Est. APR
6.99% - 18.99%
Est. APR
9.99% - 35.99%
Est. APR
99% - 199%
Loan Amount
$2,000 - $50,000
Loan Amount
$7,500 - $40,000
Loan Amount
$2,000 - $25,000
Loan Amount
$500 - $4,000
Loan Terms
2-5 Years
Loan Terms
1-5 Years
Loan Terms
2-4 Years
Loan Terms
1/2-2 Years
Min. Credit Score
Min. Credit Score
Min. Credit Score
Min. Credit Score
Not Specified

Freedom Plus Personal Loan Snapshot

Loan Amount:

$7,500 - $40,000


7.99% to 29.99%

Minimum Credit Score:


Time to Funding:

Within 48 hours

Has Origination Fee:


Origination Fee: 1.99% - 4.99%

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Pros and cons of Freedom Plus Personal Loans

Before signing up for a loan with Freedom Plus, take a look at this breakdown of some of its benefits and drawbacks.


Quick funding: Freedom Plus loans offer same-day approval with the and fund deposited within 48 hours.

No prepayment fees: No prepayment fees giving you the option to pay off your loan early, saving on interest costs.

Joint loans: Unlike some online lenders, FreedomPlus allows you to add a co-borrower to your loan, which may increase the likelihood of you being approved if you have less-than-excellent credit.

Direct payment to creditors:  Direct pay discount - Allows borrowers who want to use the loan to consolidate debt and allows FreedomPlus to use at least 85% of their loan funds to pay their creditor directly.


Availability varies by state: FreedomPlus also does not offer loans in every state.

Origination fee: Origination fees of up to 4.99% depending on your loan amount and repayment terms.

Minimum Loan Amount: Minimum loan amount of $7,500 which is high compared to other lenders.

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Loan Terms

Freedom Plus offers personal loans ranging from $7,500 to $40,000 with fixed rates. However, in some states, the minimum loan amount can vary:

  • Arizona $10,500
  • Georgia $3,500
  • Ohio $5,500

The repayment terms range from 24 to 60 months. Interest rates range from 7.99%to 29.99 % APR.

In order to qualify for the best rate, it is suggested you have excellent credit, request to borrow less than $12,000 and have a repayment term of 24 months. Other ways for borrowers to qualify for the best rates is if they:

  • Apply with a co-signer with good credit and solid income.
  • Use at least 85 percent of the loan amount to directly pay off a qualifying existing debt.
  • Show proof of sufficient retirement savings.

After applying for a loan, approval can take two to three hours to complete. After being approved you will need to upload the required documents and sign the loan contract the same day. All loans available through FreedomPlus are made by Cross River Bank.

Fees and penalties

FreedomPlus doesn’t charge an origination fee of 1.99 percent to 4.99 percent. There is no application fee or prepayment fee. There is a late payment fee of $15 or 5 percent of the amount that’s due.

How to get a Personal Loan with Freedom Plus

The application can be done online or by calling a FreedomPlus loan consultant. To start the process, check to see if the lender operates where you live by entering your state. If Freedom does lend in your state, you’ll need to provide your name, employment status, income level, address, and date of birth.

After completing a loan application, the lender will then run a soft credit check to see if you’re prequalified. If you are preapproved, you’ll be given a phone number where you can speak with a loan consultant to complete the application process.

After a hard credit check, you’ll then need to provide your ID, proof of income, and bank account verification. You will then be prompt to sign the loan contract to complete the process.