Splash Financial is an online marketplace and lending platform where borrowers can quickly find, compare and apply for personal loans and student loan refinancing.
The company’s mission is to create a faster, less expensive financial world. It aims to do this by combining wide credit coverage, competitive rates and an excellent user experience.
Splash Financial’s network of lenders offer products to borrowers in nearly all 50 U.S. states. It’s an ideal match for anyone looking for a personal loan to cover credit card consolidation, home improvement, wedding expenses, etc.
Splash’s technology matches borrowers with credit unions, banks and other lenders whose rates may not be available anywhere else.
Cleveland-based Splash was founded in 2013 and has established more than 100,000 accounts and processed over $6 billion in student loan refinancing requests over the past years.
- Access to a dedicated account representative
- Ability to review whether you qualify for financing and at what rate without a hard credit pull*
- Fast funding times
- No application fees or pre-payment penalties
- Ability to review multiple offers and exclusive interest rates
- Some offers may require signing up with a credit union
- Some offers only available to borrowers with good credit
Splash Financial Personal Loans Ratings at a Glance
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Splash Financial prides itself on a fast, seamless, personal loan process. Members can sign up, enter their information and automatically check interest rates they qualify for without a hard credit pull.
When qualified borrowers find the offers they like best, they can complete a full application which will create a hard credit pull. Borrowers receive offers from multiple lenders they can compare and choose the best fit. They can choose the funding amount they’d like, up to the amount they are approved for, and never have to worry about pre-payment penalties.
Funding is fast. After approval, funds can be directly deposited in as quickly as the next business day. Payment is also simplified with a single, manageable payment per month.
Splash Financial maintains numerous customer support options for its users — it even publishes its address. You can call, email or opt for live chat on the website. Splash Financial also maintains a social media page and a dedicated FAQ page. Although live customer service isn’t available 24/7, Splash is available by phone from 9 a.m. to 9 p.m. EST Monday through Friday.
Splash Financial’s lenders do not charge pre-payment penalties, but some lenders do charge origination fees which will be disclosed before the loan is finalized. The actual interest rates and terms you’ll qualify for will largely depend on your credit score, income level and other financial metrics.
Splash Financial boasts many user benefits. Most significantly, the platform enables borrowers to receive multiple offers simultaneously, making it easy to compare rates and terms to find the best fit.
Easy application: Splash’s site and application process is fast and easy. Users can check the interest rates they qualify for quickly and can often have their applications approved the same day.
Rates on the site: Interest rates and loan offers are compiled in a single place so there’s no need to apply with multiple different lenders to receive multiple offers.
Smart Interface: Splash Financial boasts a simplified, intuitive interface making it easy to check rates, qualification status and select a lending product.
Splash Financial’s site is easy to navigate and intuitive to use. Its product page is clear and contains information on multiple financing options, including student loan refinancing, medical student loans, in-school student loans and personal loans.
The specific deals each borrower qualifies for vary according to their own unique financial criteria. You’ll need to show:
- Good credit — 660 for most partners, through some may be 580 and above
- U.S. citizen or permanent resident
Splash Financial Personal Loan vs Competitors
Splash Financial is a solid online marketplace for personal loan financing and debt refinancing. But it’s not the only platform of its kind. Here’s how Splash Financial compares to its competitors.
- Best For:Borrowers with a minimum credit score of 580VIEW PROS & CONS:securely through Splash Financial Personal Loans's website
- Best For:Quick fundingVIEW PROS & CONS:securely through Figure Personal Loan's website
- Best For:No origination feesVIEW PROS & CONS:securely through SoFi Personal Loans's website
Splash Financial gives borrowers the ability to compare multiple personal loan options at once. The platform is intuitive, easy to navigate and convenient. Applying to multiple lenders at a time is unnecessary because Spash Financial compiles your personalized offers onto a single interface.
Borrowers should expect some variations in the types of financial offers they receive because of their unique credit scores and financial criteria. A credit score of typically 660 or higher is also a requirement.
Borrowers with a history of bankruptcy aren’t necessarily excluded from Splash Financial. The platform offers loans to people whose last bankruptcy was at least nine years prior to applying.
Overall, Splash Financial is a solid choice if you’re looking to take out a personal loan or refinance existing debt. It will help you compare offers and select the best fit for your needs.
Frequently Asked Questions
Who does Splash Financial work with?
Borrowers with credit scores of 580 or above. Most clients are looking to take out and compare personal loan offers and different refinancing solutions.
*Disclosure
To qualify, a borrower must be a U.S. citizen or other eligible status and meet lender underwriting requirements. The borrower is required to meet applicable underwriting requirements based on specific lender criteria. Lowest rates are reserved for the highest qualified borrowers.
1 While funding may be as soon as 1-3 business days at times, funding may take up to 2 weeks.
2 To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
Splash marketplace loans offer rates between 4.99%-35.97% APR. Personal loans offered through the Splash network have an origination fee of 0%-8%, if any, which may be deducted from the loan proceeds.