FreedomPlus Personal Loans Review

Many people reach a point in their life when they need extra money. If you are in a difficult financial situation, a personal loan can help make your ends meet. When used smartly, a personal loan can help to consolidate debt or pay for a large purchase you do not currently have the money for. Today we are going to take a look at one of the loan providers — FreedomPlus.

By Hanna Volkava
Updated March 04, 2024

See all FreedomPlus personal loans in March 2024

Showing 1 loans
7.99 - 29.99 %
2 - 5years
Loan amount
$7,500 - $50,000
  • Minimum credit:
    Fair (580-669)
  • Origination fee:
    1.99 - 4.99%
  • Funds available in:
    2 business days.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast funding
    • No Prepayment Fee
    • Low APR interest
  • Cons:
    • Origination Fee
    • Late Payment Fee
    • No Autopay Discount

FreedomPlus offers personal loans from $7,500 to $50,000. The interest rates range from 7.99% to 29.99%.

FreedomPlus allows you to add a cosigner to an account.

The lender charges an origination fee of up to 4.99%. The lender also charges a late payment fee of either $15 or 5% of the past-due amount, whichever is greater.

For example, if you apply for a 2-year $5,000 personal loan with an interest rate of 15% and an origination fee of 5% you would receive $4,750 and make 24 payments of $242.43. The total amount paid would be $5,818.

Check FreedomPlus personal loan rates

APR Range
7.99 - 29.99%
up to $50,000
up to 60 months
Score required:
Fair (580-669)
Loan purposes:
Personal Loan

Information about lender

  • Organisation:
    Freedom Financial Asset Management, LLC
  • Website:
  • Headquarters:
    2114 E Rio Salado Blvd Tempe, AZ 85281

Check loans from other lenders

Personal Loan
5 out of 5
Recommended credit score
bank name
Fair (580-669)
  • 5.99 - 21.49 %
  • 2 - 6 years
    Loan Term
  • $5,000 - $100,000
    Loan Amount
Check rates
On partner's site
Marcus by Goldman Sachs
Marcus by Goldman Sachs
Personal Loan
4.13 out of 5
Recommended credit score
bank name
Fair (580-669)
  • 6.99 - 24.99 %
  • 3 - 6 years
    Loan Term
  • $3,500 - $40,000
    Loan Amount
Check rates
On partner's site
Personal Loan
3.77 out of 5
Recommended credit score
bank name
Poor (300-579)
  • 5.6 - 35.99 %
  • 3 - 5 years
    Loan Term
  • $1,000 - $50,000
    Loan Amount
Check rates
On partner's site

FreedomPlus Personal Loan Review

FreedomPlus was founded in 2013 as a branch of Freedom Financial Asset Management. FreedomPlus has disbursed over $1 billion in loans to thousands of customers. FreedomPlus loans are characterized by their high amounts from $7,500 - $50,000, fast funding, and transparent fee structure. With a FreedomPlus loan, you can get a loan with a fixed APR between 7.99 - 29.99% and choose your payment date. Loan terms range from 2 - 5 years, and borrowers are eligible for several discounts, such as a co-borrower discount, direct pay discount, and retirement asset discount.

FreedomPlus Loan types

With FreedomPlus, you can apply for the following types of loans:

  • Debt consolidation: If you struggle with high-interest loans, debt consolidation loan can combine your payments into a single low-interest monthly payment.
  • Home improvement: Home repairs and renovations can run up a huge bill. If you need to give your home a facelift, you can apply for up to $50,000 with a FreedomPlus personal loan.
  • Wedding: A FreedomPlus personal loan can be used to cover expenses for your wedding ceremony.
  • Major purchase: If you need a new fridge or have to make some other unexpected purchases, you can get a loan from FreedomPlus to cover the costs.
  • Travel/vacation: FreedomPlus personal loans can also be used to fund your family vacation and traveling. A fixed-rate FreedomPlus loan takes the stress out of planning your trips.
  • Medical expenses: Medical expenses are the number one cause of bankruptcy in the US. A FreedomPlus personal loan can handle the immediate costs, so you can focus on recovering.
  • Moving expenses: If you need to make a big move, you can apply for a FreedomPlus loan. Taking care of your finances before moving will make things go much more smoothly.
  • Car/auto maintenance: An expensive car repair can affect your ability to work and make money. You can qualify for a FreedomPlus personal loan to cover unexpected car maintenance costs.

Loan specifications

You can apply for the following types of loans: debt consolidation, home improvement, wedding, major purchase, travel/vacation, medical expenses, moving expenses and auto loan.

APR7.99 - 29.99%
Amount$7,500 - $50,000
Term2 - 5 years
Origination fee1.99 - 4.99%

As you can see from the table the maximum loan amount is $50,000, and the APR starts at 7.99% for the best graded borrowers. The loan period varies from 2 to 5 years.

FreedomPlus: Pros and Cons

Pros: Cons:
Co-borrower options. If your income or credit score is too low, FreedomPlus allows co-borrower options, but they do not have co-signing options. Not available in all states. FreedomPlus loans are not available in all states. For example, residents of Connecticut, Colorado, Hawaii, Kansas, New Hampshire, Nevada, Oregon, Vermont, West Virginia, Wisconsin and Wyoming cannot apply for a loan.
Direct payments for debt consolidation. FreedomPlus offers direct payment to creditors, so you don’t have to worry about paying your creditors on your own. No autopay discount. FreedomPlus does not offer a discount for autopayments.
Pre-qualification available. FreedomPlus offers pre-qualification for funding. Qualification only affects your credit score when you accept the loan. Fees. FreedomPlus does not have any prepayment fees, but they do charge a 5% or $15 late fee and an origination fee between 1.99 - 4.99%.
Choose the payment date. FreedomPlus has flexible payment scheduling and allows you to choose your payment dates.
Transparent fee structure. FreedomPlus’s loan structure and terms are clear and transparent. You can find all the relevant information on their website clearly laid out.

Applying for a FreedomPlus Loan

The FreedomPlus loan application process is fairly straightforward. First, you enter your desired loan amount and loan purpose, as well as your state of residence. You will also need to provide:

  • Your name
  • Employment status
  • Income
  • Address
  • Date of birth

Once you provide these basic details, FreedomPlus will run a soft credit check to see if you qualify for the requested loan amount. If you are pre-qualified, they will give you a number to talk to a loan consultant. The loan consultant will help you hash out more specific details about your loan.

Once you accept the loan terms, FreedomPlus will run a hard credit check. You will need to provide a verified bank account, valid ID, and signature to complete the application. Most applicants receive their funds within one to three business days.

FreedomPlus does not disclose minimum credit requirements, but third-party sources indicate a minimum score of 620 and a minimum debt-to-income ratio of 45%.


Overall, FreedomPlus offers high-value personal loans, flexible payment terms, fast funding, and a wide range of loan options for borrowers with sufficient income. The credit requirements are lower than compared to many other loan providers, and the fee structure is straightforward and transparent.

FreedomPlus also offers some nice discounts if you have a sizable retirement account balance. The main downsides of FreedomPlus are the origination fees and the lack of autopay discount. The minimum loan amount is $7,500, which may be high for some borrowers.


What is the FreedomPlus customer service phone number?

The FreedomPlus customer service number is 1-800-297-5879.

Is FreedomPlus legit?

Yes, FreedomPlus is 100% legit. They are a registered company with a license for giving out personal loans. They are not a scam.

How does FreedomPlus verify income?

Freedom plus may request additional information regarding your income: W2, pay stubs, or bank statements. Additionally, it may get your income information from the credit report.