- Achieve's Company Overview: Founded in 2002 and rebranded in 2022, Achieve is a digital finance company specializing in personal loans, serving over 1.5 million customers with funding exceeding $13 billion.
- Loan Origination and Partnership Details: Achieve's personal loans are originated through partnerships with FDIC-insured banks Cross River Bank and Pathward, N.A., and it's part of a broader platform including debt relief and financial education.
- Unique Relationship-Driven Lending Model: Unlike fully automated fintech lenders, Achieve provides a personalized service with dedicated loan consultants, offering rate discounts for co-borrowers, direct creditor payments, and retirement savings.
- Pros and Cons of Achieve Personal Loans: Pros include multiple rate discounts, co-borrower options, and fast funding, while cons involve high origination fees, limited state access, and a high minimum loan amount.
- Eligibility, Application Process, and Customer Experience: Applicants typically need a minimum credit score of 620, with prequalification via soft pull, and the process involves working with a loan consultant; customer reviews are highly positive, emphasizing personalized support.
- Check your rates with Achieve Personal Loans
Achieve Personal Loans Overview
Achieve is a digital personal finance company founded in 2002 by Andrew Housser and Brad Stroh, originally operating under the name Freedom Financial Network. The company rebranded to Achieve in 2022 and is headquartered in San Mateo, California, with additional operations in Tempe, Arizona. Achieve has raised approximately $588 million in total funding from investors, including Vulcan Capital (the investment firm of late Microsoft co-founder Paul Allen), Stone Point Capital, and Portage. The company has served more than 1.5 million customers across its product lines and helped fund more than $13 billion in loans.
Achieve is not a bank. Personal loans are originated by Cross River Bank, a New Jersey state-chartered commercial bank (FDIC member), or Pathward, N.A. (also FDIC-insured). The company operates a broader financial services platform that includes home equity loans, home equity lines of credit (HELOCs), debt resolution services (through Freedom Debt Relief), and financial education tools. This multi-product ecosystem is relevant because Achieve positions its personal loan as one option within a larger debt management toolkit.
Achieve is a relationship lender, not a self-service platform. Unlike most fintech competitors, where the application is entirely automated, Achieve pairs borrowers with a dedicated loan consultant who walks them through eligibility, rate discounts, and loan customization. The company also offers three distinct rate discounts (co-borrower, direct creditor payment, and retirement assets) that can meaningfully reduce the effective APR. The trade-offs are a high origination fee ceiling (up to 8.99%), a $5,000 loan minimum, limited state availability, and the fact that the consultative approach may feel slow or invasive to borrowers who prefer a fully digital experience.
Achieve Personal Loans Pros and Cons
Pros
- Three rate discounts: Achieve offers a co-borrower discount (averaging ~2 percentage points), a direct-pay-to-creditors discount (~3 percentage points), and a retirement asset discount (~1 percentage point). Stacking these can reduce the APR by up to 6 points.
- Co-borrower option: Achieve accepts joint applications, allowing a second applicant’s income and credit to improve approval odds and reduce rates. Most fintech lenders do not offer this.
- Direct payment to creditors: Borrowers using the loan for debt consolidation can have Achieve send funds directly to their credit card issuers.
- Dedicated loan consultant: Each borrower works with a named consultant who can customize loan terms, explain discount eligibility, and assist with documentation. Customer support is available seven days a week.
- Fast funding: Same-day loan decisions are available for completed applications, and funds are typically disbursed within 24 to 72 hours.
- Lower APR ceiling: The maximum APR of 29.99% is below the 35.99% cap at most fintech lenders, protecting borrowers from the worst-case rate scenarios.
Cons
- High origination fee ceiling: The origination fee ranges from 1.99% to 8.99%, deducted from loan proceeds. On a $20,000 loan at the maximum fee, that is $1,798 deducted before disbursement.
- Limited state availability: Personal loans are not available in all 50 states. The company does not publicly list excluded states but directs borrowers to check eligibility during prequalification.
- High minimum loan amount: $5,000 minimum ($11,000 in Arizona), which excludes borrowers with smaller financing needs.
- Undisclosed late fees: Achieve does not publicly disclose its late payment or insufficient funds fees. These may vary by state and are only visible in the loan agreement.
- Reports to only two credit bureaus: Achieve reports payment history to Experian and Equifax, but not TransUnion, which may leave gaps in a borrower’s credit profile.
- No mobile app for loan management: Achieve offers the MoLO app with money management features, but full loan management is handled through the website or by contacting customer service.
Achieve Personal Loans Rates and Fees
Achieve personal loan APRs range from 8.99% to 29.99%. Some disclosures (including ConsumerAffairs) cite an APR range of 8.99% to 35.99%, which reflects the full legal range inclusive of the origination fee in the APR calculation. According to Federal Reserve data, the average interest rate on a 24-month personal loan from commercial banks was approximately 12.35% as of Q4 2024. Achieve’s floor rate of 8.99% is below this average, though the company notes that qualifying for the minimum APR requires excellent credit, a loan amount under $12,000, and a 24-month term.
The origination fee ranges from 1.99% to 8.99% and is deducted from loan proceeds before disbursement. For example, on a $15,000 loan with a 5% origination fee, the borrower receives $14,250 but owes payments on the full $15,000. This is a meaningful cost that borrowers should factor into their comparison. Achieve does not charge a prepayment penalty, and borrowers can pay off the loan early without additional fees. Late fees and insufficient funds fees are not publicly disclosed and may vary by state.
Achieve’s most distinctive feature is its three-tier rate discount structure. The co-borrower discount reduces the APR by approximately 2 percentage points on average. The direct-pay discount (requiring at least 85% of loan proceeds to go directly to creditors) reduces the rate by approximately 3 percentage points. The retirement asset discount (requiring proof of sufficient savings in a 401(k), IRA, Roth IRA, or TSP) provides approximately 1 percentage point of savings. Not all borrowers will qualify for all discounts, and the actual savings vary, but Achieve reports that average savings for borrowers who qualified ranged from 0% to 4% in 2024.
Scenario | Monthly Payment | Total Interest | Total Cost |
$15,000 at 12% APR, 36 mo. | $498 | $2,928 | $17,928 |
$15,000 at 12% APR, 60 mo. | $334 | $5,040 | $20,040 |
$15,000 at 20% APR, 36 mo. | $557 | $5,052 | $20,052 |
$15,000 at 20% APR, 60 mo. | $397 | $8,820 | $23,820 |
Note: Figures are approximate and do not include the origination fee, which would reduce proceeds and increase effective cost.
Achieve Personal Loans Terms and Options
Achieve offers personal loans from $5,000 to $50,000 with repayment terms of 24, 36, 48, or 60 months. The $5,000 minimum ($11,000 in Arizona) is higher than competitors like LendingClub ($1,000) and Upgrade ($1,000). For loans of $35,000 or more, Achieve requires a minimum credit score of 660. The company caps loan amounts at 45% of the borrower’s annual income.
Achieve accepts co-borrower and joint applications, which is a meaningful differentiator. Adding a co-borrower with strong credit and income can improve approval odds, increase the available loan amount, and reduce the APR through the co-borrower discount. The company does not offer secured loan options; all personal loans are unsecured.
Loans can be used for nearly any purpose, including debt consolidation, home improvement, major purchases, medical expenses, and other personal needs. Achieve offers direct payment to creditors for debt consolidation, and borrowers who route at least 85% of proceeds to creditors qualify for the direct-pay rate discount. Borrowers can choose and change their payment due date, and the company offers hardship accommodations for those who encounter difficulty making payments.
Achieve Personal Loans Eligibility and Application
Achieve requires a minimum credit score of 620 for most loans, with a 660 minimum for loans of $35,000 or more. The company’s website states that the minimum is 640, and some sources report 620; the discrepancy likely reflects periodic changes in underwriting criteria. The average credit score of funded borrowers is approximately 720, indicating that while fair-credit borrowers can qualify, the bulk of originations go to borrowers with good credit. Achieve evaluates income, employment, debt-to-income ratio, and other financial factors beyond credit score alone.
Prequalification is available online with a soft credit pull. After providing basic information (desired loan amount, loan purpose, state of residence, and contact details), borrowers receive a preliminary offer or a notification that they do not qualify. A hard credit inquiry occurs only when the borrower moves to the formal application stage. Required documentation may include proof of income, Social Security number, government-issued ID, and employment verification.
Personal loans are available in most U.S. states, but the company does not lend in all 50 states. The specific excluded states are not publicly listed on the website; borrowers are directed to check eligibility during the prequalification process. Achieve’s loan consultants are available Monday through Friday from 6:00 a.m. to 8:00 p.m. Arizona time, and Saturday and Sunday from 7:00 a.m. to 4:00 p.m. Arizona time.
Achieve Personal Loans Funding Speed
Funding speed is a competitive strength for Achieve. The company offers same-day loan decisions for completed applications submitted during business hours with all required documentation. Once approved, funds are typically disbursed within 24 to 72 hours. This timeline is competitive with SoFi and Upgrade (same-day to next-day) and significantly faster than Happy Money (3 to 6 business days).
If the borrower selects direct payment to creditors, the funds are sent to creditors within 1 to 3 days after approval, though Achieve notes that it may take 5 to 15 business days for the payments to be credited to the borrower’s existing accounts. Funding timelines can vary based on documentation completeness, bank processing, and whether the application is submitted on a business day.
Achieve Personal Loans Customer Experience
Achieve is not individually ranked in J.D. Power’s 2025 U.S. Consumer Lending Satisfaction Study. On third-party review platforms, the company performs well. Trustpilot shows a 4.9 out of 5 rating based on nearly 6,000 reviews, one of the highest ratings among all lenders in our 15-lender review series. ConsumerAffairs shows a 4.7 out of 5 based on over 200 reviews. The BBB profile shows an A+ rating with accreditation. Customer praise consistently centers on the helpfulness of loan consultants, the speed of the application process, and the personalized service model.
The CFPB received 21 personal-loan-related complaints about Freedom Financial Network (Achieve’s parent entity) in 2024. The most common complaint type involved difficulty obtaining the loan. Achieve responded to all 21 complaints in a timely manner and closed 20 with an explanation and one with monetary relief. This is a low volume relative to the company’s scale. Negative reviews on the BBB and ConsumerAffairs tend to focus on the consultative application process feeling slower or more intrusive than expected, origination fees being higher than anticipated, and occasional delays in funding.
Achieve Personal Loans Financial Strength and Reputation
Achieve (formerly Freedom Financial Network) is a privately held company that has raised approximately $588 million in total funding. Key investors include Vulcan Capital, Stone Point Capital, Sagard, and Portage. The company has been operating since 2002, giving it over two decades of market presence. Achieve’s personal loans are originated by Cross River Bank and Pathward, N.A., both FDIC-insured institutions, meaning borrower funds are backed by federal deposit insurance.
Achieve holds an A+ rating from the BBB with accreditation. Its Trustpilot score is 4.9 out of 5, one of the highest in the personal loan space. The parent company’s broader debt resolution arm (Freedom Debt Relief) has faced regulatory scrutiny in the past, including FTC and state attorney general actions related to debt settlement practices. These actions involved the debt relief business, not the personal loan product, but they are part of the corporate history. The personal loan division itself has a clean regulatory record.
Who Is Achieve Best For?
Achieve is a good fit for:
- Debt consolidation borrowers who want rate discounts: The direct-pay discount of approximately 3 percentage points can meaningfully reduce the cost of a consolidation loan.
- Borrowers who benefit from a co-applicant: Adding a co-borrower with strong credit and income can improve approval and reduce the rate by approximately 2 percentage points.
- Borrowers with retirement savings: The retirement asset discount is unique to Achieve and rewards borrowers who have built savings.
- Borrowers who want a guided application process: The dedicated loan consultant model suits borrowers who prefer personalized assistance over a self-service digital experience.
- Fair-credit borrowers (620–669): The 620 minimum credit score and the ability to add a co-borrower make Achieve accessible to borrowers who may not qualify at SoFi or LightStream.
Achieve may not be the best fit for:
- Fee-averse borrowers: The origination fee of up to 8.99% is among the highest in our review series. SoFi, LightStream, and Discover charge no origination fee.
- Small-loan borrowers: The $5,000 minimum ($11,000 in Arizona) is too high for borrowers needing less than $5,000.
- Borrowers who want a fully digital, self-service experience: Achieve’s consultant-driven process may feel slower or more hands-on than competitors like SoFi or Upgrade.
- Prime borrowers (740+) who prioritize the lowest total cost: LightStream and SoFi will likely offer lower all-in costs for borrowers with excellent credit.
- Borrowers who want all three bureaus reported: Achieve reports to Experian and Equifax only, missing TransUnion.
How to Apply with Achieve Personal Loans
- Prequalify online: Visit achieve.com and enter your desired loan amount, loan purpose, state of residence, and basic personal information. Achieve runs a soft credit pull with no impact on your credit score.
- Speak with a loan consultant (optional): If prequalified, an Achieve loan consultant will contact you to discuss your borrowing goals, eligibility, available rate discounts, and loan customization options.
- Submit your full application: Provide required documentation, including proof of income, government-issued ID, and Social Security number. Achieve performs a hard credit inquiry at this stage.
- Review and sign loan documents: Review the final loan terms, APR, origination fee, and monthly payment. Confirm whether you want funds deposited to your bank account or sent directly to creditors. Electronically sign the loan agreement.
- Receive your funds: Approved loans are typically funded within 24 to 72 hours. If you selected direct payment to creditors, Achieve sends the funds to your credit card issuers, though it may take 5 to 15 business days for the payments to post.
How Achieve Compares
The table below shows how Achieve compares to three competitors that serve a similar credit range and offer debt consolidation features.
Feature | Achieve | SoFi | Upgrade | Happy Money |
APR Range | 8.99–29.99% | 8.74–35.49% | 7.74–35.99% | 7.95–29.99% |
Loan Amounts | $5K–$50K | $5K–$100K | $1K–$50K | $5K–$50K |
Origination Fee | 1.99–8.99% | None | 1.85–9.99% | 0–5% |
Min. Credit Score | ~620 | ~680 | ~580 | ~640 |
Funding Speed | 24–72 hours | Same/next day | Next biz day | 3–6 biz days |
Terms | 24–60 mo. | 24–84 mo. | 24–84 mo. | 24–60 mo. |
Co-borrower | Yes | No | Yes | No |
Rate Discounts | 3 (co-borrower, direct pay, retirement) | Autopay | Autopay, direct pay, checking | None |
Direct Pay to Creditors | Yes | Yes | Yes | Yes |
Final Verdict
Achieve earns a 3.5 out of 5.0 in our scoring methodology. Its standout features are the three-tier rate discount structure and the co-borrower option, both of which are rare among fintech lenders. Borrowers who can stack the direct-pay and co-borrower discounts can reduce their APR by up to 5 percentage points, which translates to meaningful savings on a $15,000 to $50,000 consolidation loan. The dedicated loan consultant model adds a personal touch that self-service platforms do not provide.
The trade-offs center on cost and transparency. The origination fee of up to 8.99% is one of the highest in our review series and significantly increases the effective cost of the loan. Late fees are not publicly disclosed, and Achieve reports to only two of the three major credit bureaus. The limited state availability and $5,000 minimum loan amount further narrow the borrower pool. And while the consultative application process is a strength for some, borrowers who prefer to complete everything online without phone calls may find it frustrating.
If you are consolidating $5,000 or more in debt, have fair to good credit (620 to 720), and can take advantage of at least one rate discount, Achieve is worth a look. Start by prequalifying with a soft pull, compare the discounted rate against offers from SoFi, Upgrade, and LendingClub, and pay close attention to the origination fee when calculating total cost. If you have excellent credit and want the lowest all-in cost with no fees, LightStream or SoFi are stronger options.
Methodology
This review is part of a 15-lender personal loan review series. Each lender is scored across six weighted categories: Rates & Fees (25%), Loan Terms & Flexibility (20%), Eligibility & Accessibility (20%), Speed & Application Process (15%), Customer Experience (10%), and Transparency & Reputation (10%). The weighted score formula produces a single rating out of 5.0, rounded to the nearest 0.5. Data sources include lender websites, the CFPB Consumer Complaint Database, J.D. Power’s 2025 U.S. Consumer Lending Satisfaction Study, Federal Reserve interest rate data, BBB and Trustpilot profiles, app store ratings, and TransUnion Credit Industry Insights.
Frequently Asked Questions
Answers to your questions about Achieve Personal Loans.
Achieve requires a minimum credit score of 620 for most loans (some sources cite 640). Loans of $35,000 or more require a minimum score of 660.
Yes. The origination fee ranges from 1.99% to 8.99% and is deducted from your loan proceeds before disbursement.
Achieve offers three rate discounts: a co-borrower discount (approximately 2 percentage points), a direct-pay-to-creditors discount (approximately 3 percentage points for routing at least 85% of proceeds to creditors), and a retirement asset discount (approximately 1 percentage point for showing proof of sufficient retirement savings).
Achieve offers same-day loan decisions for completed applications. Funds are typically disbursed within 24 to 72 hours after approval.
Yes. Achieve accepts joint applications. Adding a co-borrower with strong credit and income can improve your approval odds, increase your loan amount, and qualify you for a lower rate.
No. Achieve uses a soft credit pull for prequalification. A hard inquiry occurs only when you submit a formal application.
No. Achieve reports payment history to Experian and Equifax, but does not report to TransUnion.
No. Personal loans are not available in all 50 states. The company does not publicly list the excluded states; borrowers can check eligibility during the prequalification process.
