Once the agreement is signed, customers also can change the payment date by working with Loan Servicing or Customer Service.

Prior to signing the loan agreement, Achieve borrowers can choose their preferred payment date. Not only does this streamline the debt consolidation and payoff process, but borrowers who opt into this service are also eligible for discounted rates. Borrowers can choose to have Achieve send payments directly to third-party creditors for debt consolidation purposes. Borrowers who wish to pay off their Achieve loans early are not charged a prepayment penalty. Prepayment penalties are fees charged by some lenders when a borrower pays off her loan balance prior to the final due date. This fee was also halted in April 2020, and there is no indication of when it will be reinstated. Historically, Achieve charged customers a $5 fee for calling customer service to make a payment rather than setting up automated ACH payments. Prior to April 2020, borrowers incurred a $15 fee for every returned payment.įees for payment through customer service. As with late fees, returned payment fees are currently paused. Prior to April 2020, borrowers were charged a fee of $15 or 5% of the amount due (whichever is greater) for late payments that are at least 11 days late. The company has not determined when fees will resume. In April 2020, Achieve froze its late fees, returned payment fees and other payment fees in the wake of Covid-19. In general, origination fees cover the cost to process and underwrite a loan. The actual percentage varies depending on the interest rate and loan term. Achieve charges borrowers origination fees between 1.99% and 5.99% of the total loan amount. For example, borrowers can reduce their rate by adding a co-borrower with sufficient income, showing proof of sufficient retirement savings or using at least 85% of the loan proceeds to directly pay off qualifying existing debt. Only the most qualified borrowers qualify for the most competitive rates, but there are ways to qualify for a rate discount. Personal loans from Achieve come with APRs extending from 7.99% to 29.99%. This is less flexible than some popular lenders but still offers consumers a wide range of repayment options.

Loan terms range from two to five years-or 24 to 60 months. However, borrowers in Arizona must borrow a minimum of $10,500. Achieve personal loans generally are available in amounts between $7,500 and $50,000. If you identify information that you believe to be incorrect or outdated, let us know. While CNN has attempted to clean this data, it may still contain errors. Employee totals, which the SBA refers to as “jobs retained,” refers to the number of employees as reported by the borrower and may not necessarily reflect the number of workers kept employed with PPP funds. Data for those and cancelled loans is not included in this database.īecause the SBA released loan amounts in ranges, date, business type, industry, state and county totals represent minimum estimates. Dollar amounts represent loan amounts approved by lenders and not necessarily the amount of money disbursed to businesses.įor loans worth less than $150,000, the SBA released anonymized data by state. This data represents about 13% of the 4.8 million loans and about 73% of the $521 billion approved under the PPP to date. The data in this database was published by the Small Business Administration (SBA) on Jand includes all approved, active Paycheck Protection Program (PPP) loans worth $150,000 or more. Email or, if you need to reach us securely, visit cnn.com/tips. Do you have information about the Paycheck Protection Program or any of the businesses or loans in this database? We’d like to hear from you.

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