Frequently Asked Questions

Sunbit offers personal loans ranging from $500 to $5,000. The specific amount you qualify for depends on several factors including your credit profile, income, employment status, and existing debt obligations. During the application process, you will see the loan amounts available to you based on your individual circumstances. You can choose an amount that fits your needs within your approved range.

Our Annual Percentage Rate (APR) ranges from 5.99% to 35.99%. Your specific rate depends on your creditworthiness, the loan amount you select, and your chosen repayment term. Borrowers with excellent credit typically qualify for rates at the lower end of this range, while those with fair or rebuilding credit may see higher rates. Your personalized rate will be clearly displayed before you commit to any loan offer.

Sunbit personal loans can be used for almost any legitimate personal expense. Common uses include debt consolidation, medical bills, home repairs and improvements, car repairs, moving expenses, emergency costs, and major purchases. Unlike some specialized loans, our personal loans offer flexibility to use the funds where you need them most. The funds are deposited directly into your bank account for you to use as needed.

We offer flexible repayment terms ranging from 3 months to 72 months. Shorter terms result in higher monthly payments but less total interest paid over the life of the loan. Longer terms reduce your monthly payment amount but increase the total interest cost. You can use our loan calculator to see how different terms affect your monthly payment and total cost, helping you choose the option that best fits your budget.

Sunbit operates as a lending marketplace that connects borrowers with a network of trusted third-party lenders and lending partners. When you submit an application, we help match you with lenders who may be able to offer you a loan based on your credit profile and needs. This approach allows us to potentially offer more options and competitive rates than a single lender could provide.

No, checking your rate with Sunbit only requires a soft credit inquiry, which does not impact your credit score. This soft check is only visible to you on your credit report. A hard credit inquiry, which can affect your credit score, only occurs if you decide to accept a loan offer and proceed with the full application. This means you can safely explore your options without any risk to your credit.

The initial application typically takes about 5 minutes to complete online. After submitting your information, you can often receive a decision and see your available offers within minutes. If you decide to accept an offer, completing the final verification steps usually takes an additional 10-15 minutes. From start to funding, many customers complete the entire process within one business day.

To apply, you will need to provide basic personal information including your name, address, date of birth, and Social Security Number. You will also need your employment and income information, as well as bank account details for fund deposit. In some cases, we may request additional documentation such as pay stubs or bank statements to verify your income. Having these documents ready can speed up the approval process.

Once your loan is approved and you accept the terms, funds are typically deposited into your bank account within one business day. Some customers receive their funds the same day they are approved, depending on when the approval occurs and their bank's processing times. Weekend and holiday applications may experience slight delays due to bank processing schedules.

If your application is declined, you will receive an explanation of the factors that influenced the decision. Common reasons include insufficient income, recent negative credit events, high existing debt levels, or incomplete application information. You may be able to reapply in the future after addressing these factors. We encourage declined applicants to check their credit reports for errors and work on improving their credit profile before reapplying.

To be eligible for a Sunbit personal loan, you must be at least 18 years old (19 in some states), a U.S. citizen or permanent resident, have a valid Social Security Number, have a regular source of income, and have an active bank account. You must also reside in one of the 45 states where Sunbit loans are available. Additional criteria may apply depending on the specific loan product.

Sunbit considers applicants with various credit profiles, including those with less-than-perfect credit. While credit history is one factor in our evaluation, we also consider your income, employment stability, and other financial factors. We encourage you to apply and check your rate, as this will not affect your credit score. Even if you have had credit challenges in the past, you may still qualify for a loan, though your rate may be higher.

While we do not publish a specific minimum income requirement, you must have sufficient income to demonstrate your ability to repay the loan. We consider various income sources including employment wages, self-employment income, retirement benefits, disability income, and other regular income sources. The key factor is that your income should be enough to comfortably cover your loan payment along with your other financial obligations.

Sunbit loans are currently available in 45 states. We are unable to offer loans in West Virginia, Vermont, Nevada, North Dakota, and South Dakota due to state regulations. We are continually working to expand our coverage and may add additional states in the future. You can check your state's availability on our State Availability page or during the application process.