First Premier Lending Review

First Premier Lending is an online loan marketplace that lets consumers request personal loans from $100 to $20,000, with loan terms, rates and approval determined by the lender you are matched with. The service says you can complete a short online request in minutes, may receive a decision within minutes, and may have funds deposited into your bank account as soon as the next business day if approved. Representative APRs range from 5.99% to 35.99%, although your actual rate depends on the lender and your credit and financial information. In this First Premier Lending review, we look at loan amounts, rates, requirements, funding speed, how to apply online and what you should know before submitting your information.

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What Is First Premier Lending?

First Premier Lending is not a direct lender. It operates as a marketplace that connects consumers with lenders that may be able to provide personal loans.

You submit your information through the online request form, and the company's network of lenders can review your request. If a lender is willing to make an offer, you can review the loan terms and complete the lender's required documents.

How Much Can You Borrow With First Premier Lending?

You can request up to $20,000 through First Premier Lending. The company says not all lenders can provide the full $20,000, and the amount you are actually offered depends on factors such as your income, employment, credit history and the lender's requirements.

Loan amounts can start as low as $100, making the service relevant to borrowers looking for relatively small personal loans as well as larger amounts.

What Are First Premier Lending's Rates?

First Premier Lending says APRs generally range from 5.99% to 35.99%. Your actual APR is determined by the lender and can depend on your credit history, income, state of residence, loan amount and repayment term.

The site provides a representative example of a $3,000 loan for 48 months at a 27.00% APR, resulting in payments of $163.14 and a total cost of $3,915.38. The example also notes that origination fees vary by lender.

Loan terms generally range from 2 to 72 months, although the terms available to you will depend on the lender and the loan offer you receive.

Can I Qualify for First Premier Lending?

To request a loan, you generally must be at least 18 years old, be a U.S. citizen with a valid Social Security number, have a valid driver's license or state ID, and have an open bank account. You must also meet any additional requirements imposed by the lender that receives your request.

First Premier Lending says lenders may consider factors including your credit score, loan history, income and state of residence. Some lenders may also consider regular benefits income, including disability, retirement, Social Security or pension income.

How Fast Can You Get Money From First Premier Lending?

First Premier Lending says your loan request can take only a few minutes to complete and may be approved within minutes. If you are approved, the funds can be available in your bank account as soon as the next business day.

Funding times vary by lender and may also depend on your financial institution, so next-business-day funding is not guaranteed.

Does First Premier Lending Check Your Credit?

It can. First Premier Lending says lenders may obtain credit reports from Experian, Equifax or TransUnion, as well as reports from alternative providers. Whether a credit check is performed and how it affects your credit depends on the lender you are connected with.

Because First Premier Lending is a marketplace rather than the lender, it does not have one universal credit-score requirement for every loan offer.

How Do I Apply Online With First Premier Lending?

The loan request is completed online. You provide information about yourself, your income and your banking information, and the request is submitted to First Premier Lending's network of lenders.

If a lender offers you a loan, you can review the loan documents and terms before deciding whether to accept the offer. You may be required to electronically sign the loan agreement before funds are deposited into your bank account.

➤ Check First Premier Lending loan options.

Is First Premier Lending Legit?

First Premier Lending presents itself as an online loan marketplace rather than a lender. The website identifies the operator as a for-profit advertising network and explains that it receives referral fees from lenders, aggregators or other offers to which it directs consumers.

That distinction is important. Submitting your information does not guarantee that you will receive a loan. The lender ultimately decides whether to approve you, how much to lend, what APR to charge and what repayment terms to offer.

The website also says that your information may be submitted to an aggregator or other third parties and that you may receive multiple offers. Read the disclosures and the lender's terms carefully before accepting a loan.

Does First Premier Lending Have a Phone Number?

We could not verify a customer-service phone number for First Premier Lending from the company's website. The site provides a contact form for questions, while questions about an existing loan are directed to the lender that actually made the loan.

If you receive a loan offer, keep the lender's contact information and loan documents. Your lender—not First Premier Lending—is the appropriate contact for questions about your specific loan, payments, rates or repayment terms.

Our First Premier Lending Review

First Premier Lending is an online loan marketplace that may be useful if you want to submit one loan request and potentially be matched with multiple lenders. The service offers requested loan amounts from $100 to $20,000, advertises APRs from 5.99% to 35.99%, and says approved borrowers may receive funds as soon as the next business day.

The most important thing to understand is that First Premier Lending is not the lender. Your actual APR, fees, loan amount, repayment term and approval decision come from the lender you are matched with. Before accepting any offer, compare the APR and total cost of the loan and read the complete loan agreement.

➤ Check First Premier Lending loan options.