What to expect from Friendly Loans

Step 1: Tell us about your situation

Answer a short set of questions about your loan purpose, requested amount, income, and basic financial profile. This takes about two minutes. No SSN or full financial detail required at this step.

Step 2: Soft credit check

With your consent, we perform a soft credit check to verify basic credit profile information. A soft credit check does not affect your credit score and is not visible to other lenders. This allows us to match you with lenders whose qualification criteria your profile fits.

Step 3: We present matched lender options

Based on your profile, we present a subset of lenders from our network that you may qualify with. You see the lender name and basic offer details before any handoff. Friendly Loans does not control the order or selection of lender options based on lender compensation — see How we present lender options for the full disclosure.

Step 4: You decide

Review the options. If a lender looks like a fit, you complete the lender's full application directly on their site. The lender may require additional information (full income verification, employer details, bank account information for direct deposit) and may perform a hard credit inquiry as part of their final approval process — which can affect your credit score.

You're under no obligation. If nothing fits, you walk away with no impact to your credit score from your interaction with Friendly Loans.

Step 5: Lender approval and funding

If you accept a lender's offer and complete their application:

• Final approval is determined solely by the lender, not by Friendly Loans
• The lender will disclose your final APR, loan amount, term, fees, and payment schedule in a Truth in Lending Act disclosure before you sign
• Funding timelines vary by lender — some fund as soon as the next business day, others within a few business days
• You make payments directly to the lender, not to Friendly Loans

What to verify before signing with any lender

Before signing any loan agreement, review:

• APR, not just the interest rate — APR includes fees and gives the true cost of borrowing
• Origination fees and any other up-front charges
• Prepayment penalties — most reputable lenders do not charge them, but verify
• Total cost of the loan over the full term (principal + interest + fees)
• Late payment fees and grace periods
• Whether the lender reports to credit bureaus — most do, which can help build credit with on-time payments

What if you're not matched

If no lender in our network is currently a fit for your profile, you may want to:

• Improve your credit profile and reapply in 60-90 days (paying down credit card balances and ensuring on-time payments are the fastest levers)
• Explore credit union personal loans, which often have lower qualification thresholds
• Consider secured loan options if you have collateral
• Review your finances with a nonprofit credit counselor via the National Foundation for Credit Counseling (nfcc.org)

Your rights

• Your data is yours. We share your information only with lenders you're matched with, with your consent. We don't resell your information to unrelated marketers. See our Privacy Policy for full detail.
• You can request deletion. Submit a request via our Do Not Sell/Share page or contact us directly.
• You can withdraw consent. You may stop the process at any point before signing with a lender.

Questions?

Contact us at support@friendly.loans or call (888) 430-6568.