Reach Financial Personal Loan Review
With a focus on debt consolidation and credit card refinancing, offers personal loans to borrowers looking to repackage their debts and ideally reduce their interest rate.
- Charges an origination fee:
pros and cons
offers many benefits to borrowers who are looking to consolidate debt or refinance their credit cards. However, like any financial product, a Reach loan may not be the right fit for everyone.
Pros
- Could lower your debt payments if your current APR is higher than
requirements
How to get a loan with
How compares to other personal loan companies
Even if you believe stacks up against similar personal loan lenders.
| LendingTree’s rating | |||
| Minimum credit score | |||
| APRs | |||
| Loan amounts | |||
| Repayment term | months | months | months |
| Origination fee | |||
| Funding timeline | Receive funds as soon as within 24 hours of loan approval | Receive funds in as soon as 24 hours | Receive funds in as soon as three to six days |
| Bottom line | If you have a smaller amount of debt to consolidate, may be your best choice. Of the three, it has the lowest minimum loan amount. However, it has a higher minimum credit score requirement (although you can still qualify with fair credit). | Unlike and , you can use an Achieve loan for nearly anything. Like the other lenders, also charges origination fees, but its rates tend to be lower. | Like , only offers loans to borrowers who want to consolidate credit card debt. While it takes longer for borrowers to receive loan funds, this lender does have a smaller minimum origination fee. |
How we rated
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings.
Frequently asked questions
If you choose to apply for a personal loan, it may have a slight negative impact on your credit score. Like most lenders, Reach will run a hard credit inquiry to check your credit background, which can cause your credit score to drop by a few points. However, you may see your credit score increase as you make your monthly payments on time.
If you get a consolidation loan from , they will pay your creditors within 24 hours of your loan approval.
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