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Possible Finance 2025 Personal Loan Review

Last updated on October 2, 2025
Nicole Dow
Written by 
Lead Writer & Content Strategist
Kim Lowe
Edited by 
Head of Content, Personal & Student Loans
Fact Checked
Nicole Dow
Written by 
Lead Writer & Content Strategist
Kim Lowe
Edited by 
Head of Content, Personal & Student Loans
Fact Checked

Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.

Our Take

The Nerdy headline:

Possible Finance lets you borrow up to $600 in some states and repay the loan over eight weeks. However, the fees can make borrowing costly.

Jump to:Full Review
Possible Finance

Est. APR
65.00-163.00%
Loan amount
$50 - $600
Min. credit score
None
on NerdWallet

Pros

  • May accept borrowers with bad credit scores.

  • Same-day funding.

  • Has a mobile app to manage your loan.

  • Option to change your repayment date.

Cons

  • Fees equate to APRs over 36%.

  • Does not offer medium or large loans.

  • Short repayment terms.

  • Available in a limited number of states.

  • Reports payments to only two of the three major credit bureaus.

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Full 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 accurate. 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.

Possible Finance personal loans at a glance

Minimum credit score

None.

APR range

65.00% - 163.00%

Fees

Fees vary by state.

Loan amount

$50 to $600.

Repayment terms

Four bi-weekly payments over 8 weeks.

Time to fund after approval

Same-day funding available.

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.

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How we chose the best personal loans

Our team of consumer lending experts follows an objective and robust methodology to rate lenders and pick the best.

30+

Lenders reviewed

We review over 35 lenders, including major banks, top credit unions, leading digital platforms, and high interest installment lenders operating across multiple states.

25+

Categories assessed

Each lender is evaluated across five weighted categories and 27 subcategories, covering affordability, eligibility, consumer experience, flexibility, and application process.

60+

Data points analyzed

Our team tracks and reassesses hundreds of data points annually, including APR ranges, fees, credit requirements, and borrower tools, ensuring up to date, accurate comparisons.

Star rating categories

We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.
Affordability

25%

We review lenders’ annual percentage rate offerings and the competitiveness of each lenders’ APR range. We also assess whether a lender charges an origination fee and any opportunity for borrowers to receive a rate discount.

Customer experience

20%

We consider the experience of the consumer trying to manage a personal loan, which means accessibility of customer service representatives, whether borrowers can choose and change their payment due date, and the ability to track their loan on a mobile app.

Underwriting and eligibility

20%

We consider the rigorousness of each lender’s underwriting practices and how widely available their loans are. This category includes whether a lender does a hard credit check before providing a loan, the range of credit profiles they accept and how many states their loans are offered in.

Loan flexibility

20%

We assess how flexible lenders can be with borrowers, including whether they offer multiple loan types, personal loan amounts and repayment term options and whether they offer direct payment to creditors on debt consolidation loans.

Application process

15%

We consider the lender’s full application process, including a borrower’s ability to preview their loan offer via pre-qualification, whether basic loan information such as APR range and repayment terms are available and easy to find online and how quickly a loan can be funded after approval.

5.0

Overall score

NerdWallet’s review process evaluates and rates personal loan products from more than 30 financial technology companies and financial institutions. We collect over 60 data points and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.
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