iMerge Financial Review: Legit Loan Connection Service
iMerge Financial isn't available on Finder right now.
- Max. Loan Amount
- $200,000
- APR
- Varies by lender
- Min. credit score
- You can apply with any credit score
Our verdict
Use this service to find lenders that meet your needs without impacting your credit score.
iMerge Financial connects clients with a network of lenders to help them get debt consolidation loans as well as cash-out loans for instances such as home improvements, refinancing credit cards, medical bills, student debt, tax debt, refinancing a car and more. The fact that iMerge is a service and not a lender is not made clear on its website.
It says it offers low interest rates and a set repayment schedule, and it does not require you to have collateral to obtain a loan. While iMerge promises to help restore customers’ “hope to continue their lives without financial hardships weighing them down,” it is difficult to gauge the platform’s reputability.
iMerge barely has an online presence despite having been in operation for over 11 years. When we spoke to customer service for more information, it wouldn’t disclose how many lenders are in its network or who the lenders are.
If you want a personal loan directly from a lender with a stronger track record, consider looking at alternative options. That said, iMerge’s application is fast and easy and won’t impact your credit score, so there is no harm in applying to see your lender options.
Best for: borrowers with any credit score seeking a third party to connect them to a lender that fits their needs.
Pros
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No collateral required for a loan
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Quick and easy application process
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No impact on credit score to apply
Cons
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Not a lender
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Barely any online presence and almost no online reviews
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Lack of transparency regarding its lender network
Is iMerge Financial legit?
iMerge Financial is a legitimate service connecting customers to lenders for debt consolidation or cash-out loans. It doesn’t appear to be involved in lawsuits.
It claims to have a network of reliable lenders that enforce safety and security measures to protect your funds, but iMerge doesn’t disclose what that network is. Many other lenders are certainly more established, which may provide you with more peace of mind.
Who iMerge Financial is best for
iMerge Financial is best for borrowers seeking quick access to debt consolidation or cash-out loans with low, simple interest rates and a set repayment plan.
iMerge is a connection service that connects customers to a network of lenders. For that reason, there is no minimum credit score or requirements to apply through iMerge. Instead, iMerge connects you to a lender you qualify for, and your interest rates depend on factors such as your credit history, score and ability to repay the loan.
On LinkedIn, iMerge describes itself as an institution that is good for customers wanting to learn about debt and financial literacy as it “…provides eye-opening, honest, and expert education concerning [customers’] debt load, helping them understand their options, [and] creating a realistic plan of action.”
What makes iMerge Financial shine?
iMerge Financial stands out for being a third-party service that connects customers to a network of lenders. Here are a few ways iMerge Financial shines.
- Soft credit pull to apply. While iMerge Financial has limited transparency on its site about rates and who is in its network of lenders, applying won’t impact your credit score.
- Quick application process and access to funds. iMerge’s application process offers results within five minutes. It also promises fast funding so you can access your loan quickly. In this way, iMerge is comparable to other online lenders.
- No prepayment penalties. Borrowers can pay off their loans early without incurring additional fees. However, “Origination fees and others already paid will not be refunded,” according to its site.
- No collateral. Applying to iMerge Financial is low stakes as no collateral is required. You don’t have to put up assets, like a house or car, to prove your ability to repay a loan.
- Customer service. While iMerge’s website is fairly limited, representatives are available by phone. In addition, iMerge provides 24/7 online support. Reviewers of iMerge mostly praise the service for its representatives and their ability to help them through the process.
Where iMerge Financial falls short
iMerge Financial has some notable drawbacks that may make it less competitive than other personal loan providers.
- Not a lender. iMerge is not a lender. Instead, it is a service that connects you to lenders based on your application. If you’re looking for a reputable lender rather than a third-party service, there are plenty of personal loan options out there.
- Lack of transparency on rates and fees. Because iMerge is not a lender, it doesn’t disclose interest rates or fees on its website. Competitors like SoFi or LightStream are up front about all associated costs, giving borrowers a clearer picture of their financial commitments.
- Small online presence. iMerge Financial has a small online presence, which makes it difficult to gauge user experience and customer satisfaction. The lack of reviews or feedback may raise questions about its overall reliability compared to more established lenders.
iMerge Financial loan details
| Minimum credit score/credit range | 640 minimum credit score recommended, though you can apply with any credit score |
| APR | Varies by lender |
| Loan amounts | Not a direct lender, but connects customers to lenders that provide amounts between $1,000 and $200,000 |
| Terms | Varies by lender |
| Approval turnaround | Five minutes for application approval, fund delivery is not stated. |
| Availability | Available in all states |
| Fees |
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| Other fees | Depends on lender |
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How to qualify for iMerge Financial
Because iMerge Financial is not a lender itself, there are no qualifications to apply. You can apply with any credit score, and iMerge connects you to a lender that meets your needs and qualifications.
After iMerge connects you to lenders, you’ll receive a personalized interest rate based on factors such as your income, credit history and ability to repay the loan.
To qualify for a loan, you’ll generally need:
- Minimum credit score of 650
- Proof of ability to repay loan, such as employment statement
- Social Security number or Individual Tax ID
How to apply
iMerge Financial’s application process is quick and easy and won’t impact your credit score. Application results typically arrive within five minutes.
- Visit iMerge’s website and select Apply Now to fill out its application.
- Submit your application and wait for results, which takes about five minutes.
- Review your lender options.
- Choose a lender that best fits your needs and review the loan terms.
- Accept loan terms.
- Follow the repayment plan.
How iMerge Financial compares to other lenders
What is the Finder Score?
The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
iMerge reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A |
| BBB customer reviews | 4.34 out of 5 stars, based on 58 customer reviews |
| Trustpilot Score | iMerge Financial does not have any Trustpilot reviews. |
| Customer reviews verified as of | 27 August 2024 |
Positive reviews point to iMerge’s helpful representatives and good customer service. However, we couldn’t find any reviews on Trustpilot, which is strange for a company that has been in business for 11 years. You won’t find customer reviews outside the Better Business Bureau, and it’s difficult to find information about iMerge Financial outside its website.
Given that iMerge Financial has such a small online presence, it raises some questions about its overall reliability and trustworthiness.
What do people on Reddit say?
Even on Reddit, you’d be hard-pressed to find reviews of iMerge Financial. As of this writing, we could only find one thread from 2022 where a user asked advice about whether he should use the service for a consolidation loan to pay off debts and if others had experience with iMerge Financial.
On the thread, it seemed no other users had direct experience using iMerge Financial. Other commenters suggested the original poster should forgo the service and work on consolidating the debts himself or try using either the avalanche or the snowball method to bring down the debt. “There’s nothing they do that you can’t do yourself,” commented one user.
Frequently asked questions
What is the minimum and maximum loan amount I can get?
iMerge is a service that connects you to lenders, so your maximum and minimum loan amount depends on the specific lender you choose. iMerge says it has connected customers to personal loans between $1,000 and $200,000.
What will my interest rate be?
iMerge promises low interest rates, but it appears your interest rate will, again, depend on the specific lender you choose. Interest rates typically depend on your credit score, history, employment, income and overall ability to repay the loan.
Which lenders are in iMerge Financial’s network?
iMerge doesn’t disclose this up front. To find out which lenders you qualify for, you must go through the application process on iMerge’s site. That said, there is no risk in completing that application as it doesn’t impact your credit score.
Your reviews
Sarah Finder
Contributor
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