Possible Finance Installment Loans Review

The founders of Possible Finance created this enterprise to make a difference. They aim to assist Americans with tools to improve their economic situation by being transparent. Part of the possible finance story is that they want to help lower-income communities avoid debt cycles.

Possible Finance Installment Loans Review
Bad - Good Credit Best for
3 /5
$ $50 /
Min. Amount
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    This company is licensed and can legally operate in several US states.

    Their primary product offers clients an alternative to the traditional payday loan.

    Possible Finance can be followed on Facebook and LinkedIn social media platforms.

    Why Get An Installment Loan From Possible Finance?

    Possible Finance offers a loan that they call a possible loan.

    It is offered as an alternative to a traditional payday loan and is similar to an installment loan.

    There are several suggested reasons to take this loan. 

    • Having a good credit rating is not a prerequisite
    • If the loan is approved the verdict takes just several minutes to reach you
    • A possible loan can assist you to build your credit and improve your credit score
    • Repayments are similar to installment loans. The payment is split into multiple installments, and if a payment needs to be rescheduled, this can be done through the Possible Finance mobile application

    What Does Possible Finance Offer?

    Possible Finance is a direct lender that offers installment loans and payday loans at a lower rate than most other finance companies. 

    Their services are quick, efficient, and secure.

    Possible Finance allows its customers to be flexible in terms of payment and the time it takes to repay a loan. Their APR is also lower.

    Eligibility Criteria

    To qualify for a loan from this establishment you need to be located in a state where they operate.

    You will need a verifiable income source and a state-issued identity document.

    You also need to have a checking account and proof of residence.

    Possible Finance Installment Loans- Pros And Cons

    Possible Finance offers customers an alternative like any finance company there are pros and cons to using this provider. 


    • Payment times are flexible
    • It is a cheaper alternative to payday loans
    • Funds are deposited swiftly into your account if you are approved


    • The number of states this business operates in is limited
    • The app has technical glitches
    • The types of loans offered by this provider are very limited
    • Loans are capped at $500

    How To Apply For A Possible Finance Installment Loan?

    Applying for a loan requires you to insert your mobile number on the website. You will then be sent a link to the mobile app of this provider.

    You need to install the app and then fill in your details to apply. 

    Your credit rating does not necessarily mean that you are disqualified. It will take several minutes for your application to be processed before receiving the verdict.

    If your application is approved, the money will be sent to your checking account.

    Rates, Terms, And Fees

    The rates, terms, and fees associated with taking out a loan with this company vary from state to state.

    The average APR ranges from 151% to 230%.

    This amount is substantially lower than borrowing from traditional finance sources, such as bank overdrafts or payday loans.

    Bottom Line

    Although the loans from this provider are similar to an installment loan, they are not the same.

    It may be financially cheaper than a payday loan, but may not satisfy customers who are looking for a traditional installment loan.

    As loans are capped at $500, this doesn't suit borrowers who require more.

    The absence of accurate rates and fees from the site goes against the Possible Finance value of transparency — the technical issues the app experiences can cause some frustrations. There are states where loans are not available.

    For those who are looking for a traditional installment loan, where they know what to expect, they may be better off using a different provider, such as Upgrade or SoFi.