Possible Finance 2025 Personal Loan Review

Editor’s note: Possible Finance did not respond to our most recent request for details regarding its personal loan product. We reviewed its website and attempted to contact company representatives, but some of the information presented here may not be complete. Due to the lack of verifiable information, NerdWallet did not give Possible Finance’s personal loan a star rating.

Possible Finance is an online lender that makes small, short-term installment loans with no credit check. Borrowers may get up to $600, though the maximum loan amount varies among the states in which the lender operates.

Possible markets itself as an alternative to traditional payday loans. It charges a flat $10 to $25 fee per every $100 borrowed, similar to payday loans. However, borrowers make bi-weekly payments over eight weeks instead of having to repay the whole amount with their next paycheck.

Consider a Possible loan as a last-resort option. Its fees for borrowing money translate to annual percentage rates well over 36%. NerdWallet recommends avoiding loans with rates above 36% unless you’ve ruled out all alternatives.

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Possible Finance personal loans at a glance

Where Possible Finance personal loans stand out

May accept borrowers with bad credit scores: Possible Finance says it does not check borrowers’ FICO scores but instead evaluates the applicant’s income, cash flow and money habits to make lending decisions. This means borrowers with bad credit (a score from 300 to the high 500s) may qualify for a Possible loan.

Same-day funding: Possible Finance says it funds the majority of approved loan applicants within minutes. However, funding can take up to five days for a small number of customers.

Has a mobile app to manage your loan: Possible makes it convenient to borrow money and manage payments through its app, which is available both from Apple’s App Store and Google Play.

Option to change your repayment date: If you anticipate not being able to make your loan repayment on time, Possible Finance will let you reschedule your upcoming payment up to 29 days out from the original due date with no penalty fees.

Where Possible Finance personal loans fall short

Fees equate to APRs over 36%: In several states, Possible Finance charges a flat fee based on how much is borrowed. This can range from $10 to $25 for every $100 borrowed, which equates to annual percentage rates of 65% to 163%. Most consumer advocates say personal loans should have APRs no higher than 36% to be considered affordable.

Does not offer medium or large loans: Possible Finance’s largest loan amount is $600 and that only applies to borrowers in DE, FL, ID, OH, TX, UT and WA. These loans can provide cash for a small emergency but won’t be enough to cover mid-sized or large borrowing needs.

Short repayment terms: Possible Finance loans are designed to be repaid in four bi-weekly payments across eight weeks. These repayment terms may be longer than a payday loan but are much shorter than traditional personal loans, which have terms that range from two to seven years.

Available in a limited number of states: Possible Finance only offers loans in 34 states. You cannot get a loan from Possible if you reside in AK, CO, CT, GA, IL, ME, MD, MA, MN, ND, NJ, NM, NY, PA, SD or WV.

Reports payments to only two of the three major credit bureaus: Possible Finance reports loan payments to Experian and TransUnion but not Equifax. This means if you make on-time payments on your Possible loan but a future creditor only pulls your Equifax report, that lender would not see your positive payment history from Possible.

How to use Possible Finance personal loans

Possible does not specify which expenses you can use their personal loans for and whether there are any prohibited loan uses. Small, high-interest loans are typically used to cover emergency expenses, like a car repair, vet visit or another unexpected but urgent cost.

Before signing the loan agreement, read all the fine print to see if there are any restrictions for using the loan.

Do you qualify for a Possible Finance personal loan?

Possible says it checks potential borrowers’ income, cash flow and money habits to make loan approval decisions. The lender only provides loans in the following 34 states: AL, AZ, AR, CA, DE, FL, HI, ID, IN, IA, KS, KY, LA, MI, MS, MO, MT, NE, NV, NH, NC, OH, OK, OR, RI, SC, TN, TX, UT, VT, VA, WA, WI and WY.

Possible Finance’s borrowing requirements

• Minimum credit score: None.

• Must have a valid bank account and proof of regular income.

• Must have a U.S. cell phone number. 

• Must have a valid driver’s license or state-issued ID.

• Must have a Social Security number.

• Must live in a state where Possible does business.

» MORE: How to get a personal loan