Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

4.1
(22 Ratings)

Fig Loans Review

Advertiser Disclosure

About Lender

Fig Loans Texas LLC, dba Fig Loans is a trusted financial services provider that offers affordable personal loans to meet your immediate needs and help you build credit. Founded in 1936 Fig Loans is different from traditional payday lenders by prioritizing long term financial health and empowerment. They offer credit builder loan alternatives, small personal loans paid back over a term that matches your financial ability, so you can build credit without the burdens of payday lending.

Fig Loans operates in California, Florida, Missouri, Ohio, Texas and Utah. Building credit with Fig Loans opens up the opportunity to increase the loan limit for returning customers. To qualify for a loan applicants must meet certain requirements such as providing proof of income, having a valid bank account and meeting a minimum credit score among other criteria. Fig Loans is committed to responsible lending and ensures the loan terms are affordable and in the best interest of the borrower’s financial health so they can be a reliable and supportive financial solution for you.

fig loans review

Key Features

  • Affordable Personal Loans. Fig Loans offers small personal loans that are affordable and in the best interest of the borrower’s financial health.

  • Credit Building. The company reports your payments to build your credit history in 3 credit bureaus, TransUnion, Equifax and Experian, the data lenders use to calculate your scores.

  • State-Specific. The services are tailored to the state regulations and needs of the residents in California, Florida, Missouri, Ohio, Texas and Utah.

  • User Friendly Website. The website has a simple application process, where you can select your state and apply for a loan online.

  • Commitment to Financial Health. Fig Loans is your partner in your financial journey, they offer loans that are meant to be paid back and help you build your credit score.

Pros and Cons

Pros

  • Credit Building. Fig Loans offers loans that help you build credit, good for those who want to improve their credit score.

  • Affordable Loans. They offer affordable personal loans, lower interest rates and fees than traditional payday loans.

  • Flexible Terms. Loans designed to fit your ability to repay, reduces financial stress and risk of default.

  • Online Application. User friendly website to apply and manage your loan, more convenient and accessible.

Cons

  • Limited Availability. Services may be available only to residents in certain states so if you are not in one of those states you may not be able to borrow from Fig Loans.

  • Limited Loan Amount. The maximum loan amount from Fig Loans may not be enough to cover your expenses so you may not have enough to meet your financial needs.

  • Account Opening Fee. Plus there is an account opening fee, more upfront costs for the borrower.

  • Credit Improvement Dependent. The credit building benefits may depend on consistent on time payments which can be a challenge for borrowers who are financially unstable.

Reliability

  • Reputation. The company has a good reputation in the industry and has received good reviews from customers for its transparent pricing and customer service.

  • Regulations. Fig Loans operates in compliance with state and federal lending regulations and is a licensed lender in the states they operate.

  • Customer Service. There are 24/7 customer service and a user friendly online platform to manage your loan, which is good for borrowers who need help or have questions.

  • Trustpilot Rating. The lender has 4,9/5 rating on Trustpilot.

How to Apply for a Fig Loans Loan?

Apply for a Loan

  1. Visit website. Navigate to Fig Loans' official website. Upon entering the site, you'll be prompted to select your state from a list of options where Fig Loans operates.

  2. Review Loan Options. Once you've selected your state, review the loan options available to you. Fig Loans typically offers small personal loans that are designed to be affordable and to help build credit.

  3. Apply Online. Look for an "Apply Now" button. You'll be directed to an application form where you'll need to provide personal information, such as your name, address, date of birth, income details, and social security number.

  4. Submit Required Documents. Depending on your application, you may be required to submit additional documents for verification purposes. This could include proof of income, bank statements, or identification documents.

  5. Review and Accept Loan Agreement. If your application is approved, review the loan agreement carefully. Pay close attention to the loan amount, APR, repayment terms, and any fees associated.

  6. Finalize Loan. Accept the loan agreement if you agree to the terms. The loan funds will then be deposited into your bank account, usually within a few business days.

Conditions and Requirements

Conditions

  • Loan Amount. Fig Loans loans can go up to $500.

  • Interest Rate. Interest rates for Fig Loans loans gp to 208.56%.

  • Loan Term. Loan terms generally vary up to 6 months.

Requirements

  • Unique Phone Number. A phone that can receive text messages.

  • Social Security Number. Your social security number.

  • Valid Photo ID. Government issued photo ID.

  • Online Banking. Online banking with your bank log-in information.

  • Compatible Bank Account. A checking or savings account that can connect with Fig Loans’ bank verification partners, has a positive balance at the time of application, 3 months of transaction history and monthly deposits of at least $1400.

Ways to Receive the Money

To get the funds from Fig Loans you can opt for direct deposit via ACH. This way the funds will be transferred to your bank account fast and secure. Once your loan is approved you can provide your bank account information for ACH deposits and avoid physical checks and long processing time. ACH deposit is convenient and fast for Fig Loans so you can get the funds as soon as you need it for your financial needs. Please note that funding times may vary and can take up to 4 business days via ACH depending on your situation and processing time.

Products

  • Original Fig Loan. Get quick funds from $50 to $800 for emergency needs like car repairs or medical expenses without getting into debt traps. Flexible repayment terms from 1 to 6 months with option to extend without extra charges. Applications are reviewed daily and funds can be deposited within 1 business day of loan approval but funding times may vary up to 4 business days via ACH depending on your state of residence.

  • Credit Builder Loan. A proven way to build credit history affordably, originally used by credit unions and non-profits. Upon approval Fig Loans will deposit funds into an escrow account for your benefit. You make regular monthly payments just like a traditional loan and the entire loan amount will be returned from the escrow account at the end of the loan. Suitable for customers who don’t need funds immediately and can commit to regular payments to establish positive credit history. Payments including late payments are reported to credit bureaus and will impact credit scores but you can prepay the loan at any time to release the escrowed funds.

  • Fig36 Partnership Program. Fig36 is a partnership between Fig and community organizations including non-profits to offer affordable loan programs. Provides partners with Fig Loan’s risk models, loan management software, credit reporting, compliance assistance and customer service so they can operate efficiently. Allows community partners to address their unique needs while using Fig Loans’ technology and regulatory support. Currently in limited beta in Texas and will be expanding to other states served by Fig Loans in the future, a valuable resource for non-profits to serve their communities better.

Other Personal Loans

Reasons for Loan Refusal

Common reasons for loan denial include insufficient credit history, low credit score, low income or not meeting the required eligibility criteria such as residency or age. Also incomplete application information or documentation can also lead to loan denial. Since Fig Loans offers affordable personal loans that are to be repaid and to help build credit, they likely review your ability to repay the loan as part of their decision making process. If you don’t meet Fig Loans’ underwriting criteria based on your financial situation and creditworthiness you will be denied a loan.

Check Credit Score

How to Repay a Fig Loans Loan?

Repay

To pay Fig Loans, go to the website and log in to your account to access your preferred payment method. For online payments use the secure Automated Clearing House (ACH) system, make sure to initiate payments at least a day or two before the due date as it takes one business day to process. Or you can send payments via mail to Fig Loans payment processing center at 2245 Texas Dr Ste 300 Sugar Land, TX 77479-1468.

Loans like Fig Loans

OppLoans

Apply for a Loan

OppLoans is a notable financial service provider that offers consumer loans varying from $500 to $4,000. They expedite the funding process to ensure that approved applicants receive the necessary funds promptly, which is advantageous for those dealing with immediate financial concerns. OppLoans offers adaptable repayment conditions, giving customers the choice between 9, 12, and 18-month loan terms. This adaptability allows borrowers to opt for a repayment plan that matches their financial ability, ensuring a seamless and manageable loan journey.

About OppLoans

Rise Credit

Apply for a Loan

RISE Credit is a reliable online lender that provides loans up to $5,000. They have a streamlined application procedure, allowing borrowers to have funds transferred to their accounts as early as the next business day. They present the flexibility of choosing a payment schedule that fits with the financial preferences of the customers, although some state-based restrictions might apply. A notable feature of RISE Credit is its 5-Day Risk-Free Guarantee, which permits borrowers to revoke their loan and return the principal with zero fees or interest within the given period. Additionally, RISE Credit grants customers complimentary access to their credit score and credit monitoring alerts through Credit Score Plus, offering valuable financial insight.

About Rise

OneMain Financial

Apply for a Loan

OneMain Financial stands as a distinguished and enduring lender, offering personal loans that range between $1,500 to $20,000. Boasting a century’s worth of experience in the financial sector, they have garnered the trust of a vast customer base. Their loan terms include fixed rates and fixed payments, offering a predictable and manageable repayment scenario to borrowers. OneMain Financial emphasizes personalized service, ensuring that the distinct needs of each customer are addressed. With a widespread network of approximately 1,400 branches, they provide easy access and convenience for individuals in search of financial aid.

About OneMain Financial

Universal Credit

Apply for a Loan

Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.

About Universal Credit

Editorial Opinion

Fig Loans is a new way of personal lending, it’s different from traditional payday loan services by focusing on affordability, credit building and financial empowerment. With a mission to offer small personal loans not only for immediate financial relief but also to help borrowers build a healthier credit history Fig Loans is a socially responsible lender. Their model which is transparent terms, reasonable repayment schedules and state specific offerings shows they are committed to ethical lending. This approach not only addresses the immediate needs of people in financial distress but also their long term financial stability. Fig Loans’ focus on having a positive impact on borrowers’ financial lives is great, it’s a good alternative in the high interest payday loan market.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

Additional Resources

Sources

Reviews

FAQ

What is Fig Loans?

Fig Loans offers an alternative to payday loans, providing borrowers with more affordable mainstream credit products to improve their financial health. As a result, borrowers with a poor credit score can improve their credit history and regain access to traditional consumer loans.

Who owns Fig Loans?

John Li and Jeffrey Zhou own Fig Loans.

How do you qualify for a Fig Loan?

To be eligible for a Fig Loan, you must be over 18 years, live in one of the eight states where they operate, have an active checking account with a positive balance, and have received more than $1,400 for at least three months.

How much can you borrow from Fig Loans?

Fig Loans provides payday loans between $50 - $800 depending on the state.

Is Fig Loans a legitimate company?

Yes. Fig Loans is a legal organization that reports to TransUnion, Equifax, and Experian and is transparent about its fees and penalties.

Company documents

Privacy Policy

A loan built for you, by people who get it.

© Fig Loans
Offers
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

4.22
(20 Ratings)
Recommended FinScore™
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1000
50.00 – 500.00 $
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to 208.56 %
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Loan term for the financial product

1 months – 6 months
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6.34 – 35.89 %
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2 months – 5 years
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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

3.93
(20 Ratings)
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27.50 – 81.29 %
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6 months – 3 years
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Fig Loans reviews 2025
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4.8
Pros
This is an excellent company. I had no difficulty securing a loan, and the monthly payments are manageable. I would recommend their services to anyone, and their staff is also a pleasure to work with.
Complain
4.2
Pros
Fig Loans has been an incredible source of assistance for me. Living on my own, I often find bills piling up, and I occasionally run short on cash. Whenever I log into Fig Loans online, they consistently approve my loan request, and they even offer me flexible repayment options. In my experience, there's simply no comparison with any other company out there.
Complain
4.4
Pros
This company is exceptional for not burdening you with exorbitant interest rates, and they consistently report to credit bureaus. I wholeheartedly recommend their services.
Complain
4.8
Pros
My experience with Fig Loans has been fantastic because they were willing to give me a chance. I've been able to demonstrate my reliability, and every loan I've taken with Fig Loans has been approved. I'm genuinely grateful for their support, as it has been a lifeline in numerous unforeseen emergency situations that were beyond my control. They have been a blessing to both me and my family, and their services have significantly contributed to improving my credit score.
Complain
4.6
Pros
Fig Loans is playing a crucial role in getting me back on the right track with my credit score. Their assistance is helping me achieve a higher credit score, opening up opportunities to receive other credit offers.
Complain
1.8
Cons
I've been a long-time user of this service, and I haven't seen any increase in my loan amount during this time.
Complain
4.8
Pros
Being rejected by all other lenders and finally receiving approval is undeniably a remarkable and fortunate turn of events for individuals striving to rebuild their lives. Thank you, Fig Loans!
Complain
4.4
Pros
While it was just a $300 loan, it made a positive impact on my credit score. The only setback was that they didn't permit me to obtain another loan after I had paid it on time. Nevertheless, every bit of assistance counts when you're working on rebuilding a severely damaged credit history.
Complain
4.6
Pros
Fig Loans offers excellent, affordable small loans. Their communication is exceptional, and they are willing to assist you during challenging times. Making on-time payments provides a chance to improve your credit score. I would highly recommend them!
Complain
4.6
Pros
The application process is straightforward, and once approved, the funds are quickly and effortlessly deposited into your account.
Complain
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Company rating
4.1
/ 5
22 reviews
Application
4.3
Support service
4.0
Mobile App
3.9
Service quality
4.2
Your satisfaction level
4.1
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