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Freedom Plus is an online lender that incorporates some traditional, person to person interaction. They’ve been in business since 2004 and they offer some extras that many of the other lenders don’t. See if they might be the right lender for you by reading our full Freedom Plus Loans review.
Freedom Plus Quick Info
| APR Range | 7.93% - 29.99% |
| Loan Amounts | $10,000 - $35,000 |
| Origination Fee | 0% - 5% |
| Loan Duration | 2 - 5 years |
| Time to Fund | As soon as 2 days |
| Soft Credit Check? | Yes |
Who Is the Typical Freedom Plus Borrower?
- Their credit score is at least a 640. The average Freedom Plus borrower has a credit score of 720.
- They earn at least $30,000 a year.
- Their debt-to-income ratio is below 40%. The average borrower has a debt-to-income ratio of 20%.
- They would like to use a co-signer.
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Freedom Plus Loans Review
Most online lenders offer a fully online experience. Meaning you can go from application all the way until you make your last payment without ever talking to a real person. For some people this is great but for others, they’d like to actually talk to someone during the process.
After you’ve applied with Freedom Plus you’ll have a short call with one of their customer representatives. It will only take 15 to 20 minutes and you’ll discuss your reasons for the loan and your current debt situation. You’ll also have the chance bring down your interest rate by discussing potential co-signers or retirement savings (not as collateral but just as a way to prove financial responsibility).
Freedom Plus is one of the few lenders that allow you to bring a co-signer. In case you’re not familiar, this is when you bring another person with a better credit profile to sign on to the loan with you. While you are still the primary this allows the lender to hold the co-signer responsible if you don’t pay. This can lower your interest rate significantly. Just remember if you do get behind it’s going to create significant issues between you and the co-signer when they have to pick up your slack.
Freedom Plus also offers a discount if you use their service to directly pay off your other creditors. Say you take out a loan to pay off your credit cards. Freedom can send the money directly to them, skipping the step of sending it to you. While a few other lenders offer this service there are no others we know of that give you a discount for using it.
Freedom Plus Loan Reviews From Around the Web
| Better Business Bureau |  4.84/5 - 76 Reviews |
| Credit Karma |  2.5/5 - 51 Reviews |
| Nerd Wallet |  4.5/5 |
Freedom Plus Fees and Penalties
- Origination fee: 0% to 5%
- Prepayment fee: None
- Late fee: Greater of $15 or 5% of amount due after 10-day grace period
- Check processing fee: $15
- Declined payment fee: $15
Business Contact and Profile for Freedom Plus
| Name: | Freedom Plus |
| Phone: | (800) 297-5879 |
| Address: | 1875 S Grant St # 450 San Mateo, CA 94402-2666 |
| Website: | FreedomPlus.com |
| Business Started: | 2004 |
| Type of Business: | Financials Services, Loans |
| Principal: | Mr. Joseph Toms, President and CIO |
| BBB Accreditation: | This business is accredited with the BBB and has an A+. |