Figure used to be a viable option for consumers with good credit looking to access a personal loan. You could borrow between $5,000 and $50,000 and choose a payment period between 36 and 60 months. Plus, funding times were fast – just one to two business days for most borrowers – and the rates were some of the most competitive in the industry.

Alternatives to Figure loans

The lender no longer offers personal loans, but there are other options to consider to get the cash you need.

Upgrade

Personal loans from Upgrade are designed to make debt consolidation, home improvements and big-ticket purchases easier for consumers with varying financial backgrounds. You can borrow between $1,000 and $50,000 with interest rates from 8.49 percent to 35.99 percent, and if approved, receive the loan proceeds as soon as the next day. Its eligibility criteria are also flexible as Upgrade knows you’re more than your credit rating – you’ll need a credit score of just 560 to qualify. Keep in mind that you’ll pay an origination fee between 1.85 percent and 9.99 percent. Furthermore, these personal loans cannot be used to cover higher education expenses, engage in gambling or illegal activities or purchase investments.

TD Bank

TD Bank is also worth considering if you have a credit score of at least 700 and are seeking a personal loan with minimal fees. Its Fit Loan solution lets you borrow between $2,000 and $50,000 for 12 to 60 months. You’ll pay between 8.99 percent and 21.99 in interest, which is relatively low compared to what many other banks, credit unions and online lenders in the industry offer. Plus, there are no loan application or origination fees, and you won’t be assessed a penalty if you decide to pay the loan off early. Regarding funding times, you could receive the loan proceeds in just one business day, making the TD Bank Fit Loan worth considering to get fast cash.

Achieve

Achieve understands that its borrowers are more than their credit scores and adopt a holistic approach to make lending decisions. It offers personal loans to individuals with a credit score of at least 620 that meet the income and debt criteria. APRs start at just 7.99 percent and cap at 35.99 percent. The minimum loan amount is slightly different from what was offered with Figure – $5,000-$50,000, and repayment periods from two to five years are available. There are no hidden fees or early repayment penalties, but you’ll pay an origination fee between 1.99 percent and 5.99 percent. The upside is you can qualify for an interest rate discount if you add a well-qualified co-borrower to your application or provide proof of sufficient retirement assets. Most applicants receive a funding decision the same day, and loan proceeds are generally deposited in just 24 to 72 hours following final approval of the loan application.

Why doesn’t Figure offer personal loans anymore?

Figure has shifted its focus from personal loans to helping homeowners leverage their home equity to meet financial goals. It currently offers cash-out refinance loans and home equity lines of credit (HELOCs) in its suite of lending solutions.