Who we are
Split Rent Payments is a loan connection and comparison service. We are not a lender, a broker in the licensed sense in most states, or a credit reporting agency. We do not make loans, make credit decisions, set interest rates or fees, or service loans. When you submit a request, we transmit it to one or more third-party lenders that are licensed to lend in your state, and those lenders decide independently whether to make an offer and on what terms.
How we are paid
We receive compensation from lenders in our network when a request we refer results in a funded loan or, with some lenders, a qualified lead. The amount and structure of that compensation vary by lender. This compensation does not affect the APR, fees, or terms you are offered; lenders price offers based on your credit profile, income, state, and their own costs. It may affect which lenders receive your request first and how lenders are described on informational pages. We never charge applicants a fee.
Lender profiles and comparisons
The compare lenders page profiles lenders that make small personal loans. Inclusion on that page does not indicate that a lender is in our network, that it paid for placement, or that we endorse it. Profiles are descriptive, are based on publicly available information, and can become outdated as lenders change their terms and state coverage. Confirm current terms on the lender's own site.
Loan terms that apply to requests through this site
- Loan amounts range from $500 to $5,000.
- Loans are personal installment loans with fixed rates, repaid in equal monthly payments over terms that typically run from 3 to 24 months.
- APRs are set by the lender and, across the network, commonly range from about 6% to 36% for most borrowers, with some credit-building lenders higher.
- Some lenders charge an origination fee of 1% to 8%, deducted from the deposit. Late fees and returned-payment fees may apply as described in the lender's agreement.
- Nearly every lender in the network allows early repayment with no penalty.
- Not all applicants qualify, and not all lenders operate in every state.
Representative example
A $2,000 personal loan repaid over 12 months at 24% APR with no origination fee has a monthly payment of about $189 and a total repayment of about $2,270, of which about $270 is interest. This example is for illustration; your lender will disclose your actual APR, fees, payment, and total before you sign.
Credit inquiries and reporting
The initial review of your request uses a soft credit inquiry with most lenders, which does not affect your credit score. A hard inquiry may occur when you accept an offer and the lender finalizes the loan. Lenders in the network generally report payment activity to one or more credit bureaus, so on-time payments can build credit history and late payments can damage it.
Consequences of non-payment
Late or missed payments may result in fees set by the lender, may be reported to credit bureaus, and may lead to collection activity as permitted by law. Lenders in our network are expected to follow fair debt collection practices. If you anticipate difficulty paying, contact your lender before the due date; many will adjust a due date or arrange a plan.
Military borrowers
Active-duty service members and their dependents are protected by the Military Lending Act, which caps APR at 36% and provides other protections. Lenders verify military status during review.
Not financial advice
The articles, calculators, and guides on this site are educational and reflect general practices in the small personal loan market. They are not individualized financial, legal, or tax advice. Consider your own situation and, where appropriate, consult a qualified professional.
Questions
Contact Split Rent Payments at [email protected] or (888) 931-3704, or write to 6392 Fallbrook Road, Suite 435, Boise, ID 83747. See also our privacy policy and terms of use.