How to Use the NuvaLoan FAQ
This page answers the most common questions about NuvaLoan, a free service that matches one personal loan request with lenders in its network, grouped into six topics from the basics to privacy.
Start with the group that matches where you are. If you are still deciding whether to try the service, the About NuvaLoan and request process groups explain what happens and what it costs. If you already have an offer in front of you, the rates, fees, and repayment groups are more useful.
Each answer is written to stand on its own, so you can jump straight to one question without reading the rest. Terms such as APR, origination fee, and soft credit inquiry come up often; the personal loan glossary defines each one in plain language. For a walk-through of the full process from request to funding, see how NuvaLoan works.
Getting the most out of these answers
Read the answers in the order you will face the questions. Before you submit a Nuva loan request, check the eligibility basics and what information you will need. After offers arrive, move to the rates and fees answers so you know which numbers to compare. Once a loan is funded, the repayment answers explain who to contact and what to do if your budget changes. Keeping a note of your target amount and the most you can pay each month makes every answer easier to apply.
These answers describe how the service generally works. Each personal loan offer comes from an individual lender, so the terms in your offer and loan agreement always take priority over general information here.
About NuvaLoan
It is a free online personal loan matching service.
What is NuvaLoan?
It is a free online personal loan matching service. You complete one request, and we pass it to lenders in our network who offer personal loans from $500 to $5,000. The lenders review your information, decide whether to make an offer, and set the rate and terms. We do not lend money or make credit decisions ourselves.
Is NuvaLoan a lender?
No. We are a connector between borrowers and lenders, not a lender. We do not fund loans, set APRs, or approve or decline requests. Every personal loan offer you see comes from a participating lender, and if you accept one, your loan agreement is with that lender directly.
Does it cost anything to use the service?
Using the matching service is free. There is no fee to submit a request, compare offers, or decline them. Personal loan lenders in the network may charge their own costs, such as interest or an origination fee, and those are disclosed in each offer before you sign anything.
How many people have used the service?
Around 72,000 customers have submitted personal loan requests through the service. Customers rate the service 4.4 out of 5 based on 6,480 ratings. Those numbers reflect experiences with the matching process; individual lender offers and outcomes vary from person to person.
Is the service available in every state?
Not every state is covered, and the lenders available to you depend on where you live. Some states limit loan sizes, terms, or rates, which affects which personal loan lenders can participate. If no lender in the network serves your state, you will not be matched, and you are under no obligation.
The request process
Most people finish a Nuva loan request in about five minutes.
How long does the request take to fill out?
Most people finish a Nuva loan request in about five minutes. You enter the amount you want, the purpose, and basic personal, income, and bank details. Having your pay information and checking account number nearby makes it go faster. You can review everything before you submit.
What happens after I submit a request?
Your request is shared with lenders in our network that may be a fit for your amount and state. Lenders that want to make an offer will present their terms, often after a soft credit inquiry. You can then compare any offers you receive and choose one or none. If no lender makes an offer, nothing further happens.
Am I obligated to accept an offer?
No. Submitting a request does not commit you to any personal loan. You can review each offer, ask the lender questions, and decline all of them without any cost. You only take on a personal loan if you accept an offer and sign the lender's agreement.
Can I change my request after submitting it?
Once a request is submitted, the details go to lenders as entered. If something was wrong, such as your income or bank information, the simplest fix is usually to correct it with the lender during verification or to submit a new request with accurate details. Contact our support team if you are unsure which route makes sense.
Will I receive offers from more than one lender?
Sometimes. Depending on your profile, state, and the amount requested, you may see one offer, several, or none. Each lender decides independently. When you do receive more than one personal loan offer, compare APR, term, fees, and total repayment side by side before choosing.
Credit & approval
Many personal loan lenders in the network use a soft credit inquiry to pre-qualify you, and soft inquiries do not affect your credit score.
Will submitting a request hurt my credit score?
Many personal loan lenders in the network use a soft credit inquiry to pre-qualify you, and soft inquiries do not affect your credit score. If you accept an offer and move forward, the lender may run a hard inquiry, which can cause a small, temporary dip. Each lender explains its process before any hard inquiry takes place.
Can I request a loan with less-than-perfect credit?
Yes, you can submit a request with any credit history. Some lenders in the network work with fair or limited credit, but approval is never assured. Lenders look at income, existing debts, and credit history together, so a lower score may mean fewer offers or a higher APR rather than an automatic decline.
Who decides whether I am approved?
The lender does. We pass along your request, but every approval, decline, rate, and term is the individual lender's decision under its own criteria. That is why we cannot tell you in advance whether you will be approved or explain a specific lender's decision.
What are the basic requirements to request?
Lenders typically require that you are at least 18 (19 in Alabama and Nebraska), a US resident with a valid Social Security number, and have a steady source of income. You will also need an active checking account in your name and a working email address and phone number. Individual lenders may add their own requirements.
Why might a lender decline my request?
Common reasons include income that is too low for the requested amount, a high debt-to-income ratio, recent missed payments, difficulty verifying identity, or state restrictions. Lenders are required to give you a notice explaining the main reasons if they decline you after reviewing your credit. That notice comes from the lender, not from us.
Rates, fees & terms
APRs offered by network lenders range from 5.99% to 35.99%.
What APRs do lenders in the network offer?
APRs offered by network lenders range from 5.99% to 35.99%. Your rate depends on your credit profile, income, state, loan amount, and term. As a representative example, a $2,000 personal loan repaid over 12 months at 24.99% APR would be about $190.08 a month, or about $2,280.94 in total, including roughly $280.94 in interest.
How long are repayment terms?
Network lenders typically offer terms from 3 to 36 months. The terms available to you depend on the lender, your state, and the amount you borrow. Shorter terms raise the monthly payment but lower total interest, while longer terms do the opposite.
Do lenders charge origination or other fees?
Some do and some do not. An origination fee, when charged, is often deducted from the amount deposited, so you receive a little less than the loan amount. Late fees and returned-payment fees may also apply. Every fee must be disclosed in the lender's offer and loan agreement, so read them before accepting.
How much can I borrow through NuvaLoan?
Personal loan requests can range from $500 to $5,000. The amount a lender actually offers may be lower than what you request, depending on your income, credit, and state rules. We suggest requesting only what you need, since every dollar borrowed adds interest.
Why is my personal loan offer different from the rates I saw on the site?
The rates and payments shown on our pages are ranges and representative estimates. Your actual offer reflects the lender's review of your credit, income, existing debts, state, and chosen term. Two people requesting the same amount can receive quite different offers.
Repayment
You repay the lender that funded your personal loan, not the matching service.
How do I make payments on my loan?
You repay the lender that funded your personal loan, not the matching service. Most lenders offer automatic withdrawals from your checking account, and many also accept online or phone payments. Your loan agreement lists the payment schedule, amount, and accepted methods.
Can I pay my loan off early?
Many lenders allow early payoff without a penalty, which can save you interest. Some personal loan agreements do include a prepayment penalty, though, so check that section before you sign. If you plan to pay extra, ask the lender how additional payments are applied to principal.
What should I do if I cannot make a payment?
Contact your personal loan lender as soon as you know there may be a problem, ideally before the due date. Many lenders can discuss options such as moving a due date or setting up a short-term arrangement. Missing a payment without contacting them can lead to late fees and may be reported to credit bureaus.
Can I change my payment due date?
Some lenders let you pick or adjust your due date, often so it falls shortly after your paycheck lands. Policies vary, and a change may shift the interest slightly. Ask your lender directly, since we do not manage personal loan accounts after funding.
How soon are funds deposited after I accept?
If you are approved and accept an offer, funds are often deposited as soon as the next business day. Timing depends on the lender, when you complete verification, and how quickly your bank posts deposits. Weekends and bank holidays can add time.
Privacy & security
Your information is transmitted over encrypted connections and handled under our privacy policy.
How is my information protected?
Your information is transmitted over encrypted connections and handled under our privacy policy. We share request details with lenders in the network so they can evaluate your Nuva loan request. We do not ask for passwords to your bank or email accounts, and our privacy policy describes how data is stored and used.
Who can see the information I submit?
Personal loan lenders and service partners in our network that may be able to make you an offer can see the details you provide. They use it to verify your identity and evaluate the request. Our privacy policy lists the categories of partners and your choices about how your information is used.
Will I be contacted after I submit a request?
You may receive emails, texts, or calls from us or from lenders about your request or offers. The consent you give on the request form explains which contacts may occur. You can opt out of marketing messages at any time using the instructions in those messages.
How can I tell a message really came from NuvaLoan?
Genuine messages from us will never ask you to pay a fee to receive a loan, buy gift cards, or share your online banking password. Our support email is [email protected] and our phone number is (888) 303-9949. If a message about a personal loan seems suspicious, contact us directly using those details rather than replying to it.
Questions Only Your Lender Can Answer
NuvaLoan cannot explain an individual lender's approval decision, change a lender's rate, or manage a personal loan account after funding, because those are handled by the lender you choose.
Once you accept an offer, your relationship is with that lender. Questions about why a request was declined, how a specific APR was set, a payment that has not posted, or a payoff amount should go to the lender directly, using the contact details in your loan agreement. Lenders that decline a request after reviewing credit must send you a notice listing the main reasons.
We also cannot give individual financial, legal, or tax advice. If you are weighing whether a Nuva loan makes sense for your situation, the rates and terms overview and our calculator can help you estimate costs, but the final decision is yours.
Still Have a Question? Contact NuvaLoan Support
If your question is not answered here, you can reach NuvaLoan support by email at [email protected] or by phone at (888) 303-9949.
When you contact us, include the email address you used on your request so we can locate it quickly, but never send your full Social Security number or bank password. Our team can help with questions about the request form, which lenders received your Nuva loan request, and how to opt out of messages. The contact page lists our mailing address and support options.
