Borrowers First Reviews - What Is It?

WARNING: DO NOT USE Borrowers First Until You Read This Review!
Is it a Scam? Does It Really Work?

Borrowers First

Borrowers First is a website based in Texas that offers loans of different amounts, lengths, and interest rates. It is designed for people who experience some tough financial times and need money immediately. Let's see whether this company is worth taking a loan from them by studying what they offer and what their customers are saying about them. They say that their additional mission is to protect borrowers from loan companies with high-interest rates and deceptive practices. BorrowersFirst uses smart and secure technology that makes the process of borrowing easier, faster, cheaper and friendlier. Their approach is really refreshing, especially taking into account the fact that people do not have to go to the bank and go through a weeks-long process. With Borrowers First you will only need to name the loan amount, a reason why you need it, as well as leave your email address and any pre-approval codes. The process of borrowing is so fast and easy!

The company's leadership team is made of up Oehring, CEO Dave Tomlinson, CFO Gavan Goss, CRO Zhi Zhou and three vice presidents. The domain was registered in 2013. All loans are financed by Cross River Bank, a financial institution located in Teaneck, New Jersey. Borrowers First official website directs your information into Cross River Bank, who determines what kind of loan you can get. Then you will sign a contract with the company. According to their site and users' reviews, approval time usually last no more than two days. You can talk to the company's representative who will consult you on your loan. The company does not provide loans to residents of Hawaii, Connecticut, Idaho, Maine, Iowa, Mississippi, New York, Nevada, North Dakota, Vermont, Wisconsin, Tennessee, West Virginia, or Wyoming.

Customer Reviews - Does Borrowers First Really Work?

There is a great number of customer reviews about Borrowers First online. The reviews seem to be positive mostly. People like that the company offers quite big loans ranging from $2,500 to $35,000. There are several exceptions, however. For example, residents of Georgia and Colorado must borrow minimum $3,000, while residents of Pennsylvania can borrow only up to $25,000. Residents of Massachusetts must borrow more than $6,000. One must pay back the loans received through this website in three years or five years. Borrowers First's interest rates vary from 5.99% to 26.99%) and APR varies from 7.22% to 29.99%. Your APR depends on your loan amount, credit scores and history, and loan term. You will not be asked about your income because you are assumed not to make much money. It is unknown how high or low your interest rate will be but, most likely, your rates will be higher as your credit scores are lower. The current average APR on a credit card is from 13% to 15%.

If you need more money than $35000, and you need it within a month, you are recommended to apply for a credit card from Borrowers First. It is also a good chance to get a lower rate and you won't have to worry about an origination fee. Taking a loan, you'll face two different fees: the origination fee and a trio of $15 fees. You'll have to pay an origination fee to process your loan for a lender's services. During the housing bubbles of the 90s and mid-2000s, it was as high as 4%-5%. Today, the origination fee is 5%. It means that if you borrow $10,000, you'll pay $500 to get the loan. A credit card with a $10,000 credit line won't charge you that fee. If you cannot pay the origination fee at once, Borrowers First will add it to your loan balance. So, you can pay it for three or five years with interest, though. You will be charged $15 every time you pay by check, pay more than five days late, submit a payment that gets returned.

We found three websites that helped us learn what people think about this company's loans and customer service. contains more than 170 reviewers with the average rating of 4.5 stars out of 5. People frequently reported they got their loans really fast. Most of them got approved in two days. They found the customer service wonderful and appreciate the rate offered by the company. Personal finance website Credit Karma contains 18 reviews from customers of the company. More than 50% of those reviews have 5 stars. The reviews are mainly positive; however, a few complaints concerned a heavy application process, but the users liked fast response times on loan approvals. The Better Business Bureau page shows that the company has an A+ rating. Let's take a look at the actual consumer reviews.

"I had excellent experience with Borrowers First and its staff. I called them several times to consult and every time they were polite and kind to me. In fact, I spoke with three different folks. I also asked them to send me a letter because of an error they made and they did it rather quickly. I do recommend this company if you need money. I was satisfied with their customer service too."

"If you need to take a loan, Borrowers First can be the right place for you. This company is pleasant to deal with. They work actively, organized and professionally. I got loan approval in just two days. I am happy that I chose this company. If you have any issues, be sure that the company's representatives will gladly help you and send you important information. I do recommend them to everyone."

"I liked just about everything about BorrowersFirst - their services, people and great customer service. The staff was very friendly and attentive. They were the only who agreed to help me within just a few days. The borrowing process was fast and easy! I submitted minimal documents. I am going to finish paying out money very soon. I liked my loan experience with this company. They won't let you down too."

My Final Summary

Borrowers First is a trustworthy loan company that offers their services online. What can be more convenient? This makes the process of borrowing easier, faster, less costly, and kinder. The company is associated with a number of positive reviews from real users. People claim that loans were processed quickly and painlessly. If you have any issues or questions, you can contact the company my email or phone. The representatives of the company will consult you in the most friendly manner.

If you decide to work with Borrowers First, all you will need to do is call them and ask them for a loan. You are expected to get approval within two days only. Make sure you get clear information on your loan and all the fees. Your 5% origination fee will be added to your loan for you to pay it for a few years. Don't be afraid to start solving your financial problems with this company. They will help you gain control of your finances again. Click here to read our article on the benefits of budgeting. I do recommend Borrowers First.

Borrowers First Pricing and Rates

Rates depend on the duration of the loan, on your credit, loan's term, credit history, and credit usage. Rates vary from 5.99% APR to 26.99% APR. The origination fees range up to 5%. The term of the loan can vary from 36 to 60 months. There are no penalty fees for those who pay their loan earlier than the deadline. One can even save money by paying the loan off early. As it was already mentioned, you can borrow from $2,500 to $35,000 from Borrowers First.