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Splash Financial Review 2024 | US News

  • People who need to borrow up to $100,000.
  • People who need a quick decision-making process.
  • Borrowers who want access to a marketplace of personal loan options.

If you want a Splash Financial personal loan, your creditworthiness is an integral part of the application. Your credit score can affect the number of offers you receive along with the term and rate. You must also have a basic checking account or savings account, pay stubs, a valid ID and the stated reason why you want a personal loan.

Splash Financial offers unsecured personal loans from $1,000 to $100,000. None of their lenders accepts co-signers.

What Credit Score Do You Need?

Splash Financial says that most of the time, lenders look for credit that ranges from average to excellent. Typically, this means that you should have a credit score of 660 or higher. However, if your credit score is lower than that, you still may be able to qualify for a personal loan with a higher interest rate.

Splash Financial personal loans are available in all 50 states.

Splash Financial is a loan marketplace. Splash, founded in 2013, is based in Cleveland. The company began as a service for refinancing student loans before expanding to personal loans.

Splash Financial is a marketplace for personal loans, so it shops its network of bank and credit union partners to get rates and products for borrowers.

To get a personal loan through Splash Financial, first prequalify on its website to determine what products and rates are available to you – though keep in mind that rates can change. You need to provide some personal information to see offers, but this doesn’t affect your credit score.

After you select a loan, you submit an online application. Aside from having a basic checking account or savings account, you may need to supply some pay stubs, a valid ID and the reason why you want a personal loan – and this will count as a hard credit inquiry that could drop your credit score by as much as five points.

From there, the lender will decide whether it can approve you for a loan. Splash Financial saves the application and any documents so you can return and access them at any time.

Once you are approved for your loan and have signed all documents, Splash Financial says you typically should receive your funds in one to two business days. However, in some cases it may take up to two weeks to receive funds.

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Splash Financial has an A+ rating with the Better Business Bureau. In 2022, the Consumer Financial Protection Bureau received no personal-loan-related complaints about Splash Financial. In addition, Splash Financial has 4.8 stars out of 5, an excellent score, based on more than 650 reviews on Trustpilot.

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Sarah Goldberg
Sarah Goldberg

Sarah is a seasoned financial market expert with a decade of experience. She's known for her analytical skills, attention to detail, and ability to communicate complex financial concepts. She holds a Bachelor's degree in Finance, is a licensed financial advisor, and enjoys reading and traveling in her free time.

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