Learn How to Apply for BHG Money Personal Loans

What do I need to know before applying for a loan with BHG Money Personal Loans?

BHG Money offers loan plans that go up to US$200,000 with repayment options ranging from 3 to 10 years, all with a decision turnaround time of up to 24 hours and funding in the account within 5 days!

With over two decades of experience, the company is renowned for offering substantial loan amounts. BHG Money primarily focuses on personal debt consolidation, home improvements, and various life events.

BHG Money’s messaging emphasizes its role as a supportive partner in fulfilling the public’s needs.

Clients can choose a repayment window of 3 to 10 years, featuring consistent installments and no hidden fees throughout the payment period.

As an unsecured personal loan provider, BHG Money doesn’t require collateral such as a home, car, or business.

Rather, the main considerations for loan approval revolve around the borrower’s credit history and financial capability.

Hence, if you’re considering a loan with BHG Money, it’s advisable to thoroughly review all terms and conditions before proceeding with the application.

Who can Apply?

BHG Money specializes in providing loans to individuals and businesses located within the United States.

To qualify for BHG Money’s loan plans, the primary requirement is being a legal resident of the USA, whether as a citizen or a foreigner with a permanent work visa.

Applicants must also meet the age requirement, typically 18 years old, though it may be 19 in certain states.

Additionally, borrowers need to have an active and valid bank account, a verifiable source of income, and a favorable credit history.

It’s important to note that BHG Money currently does not extend its personal loan services to residents of Illinois and Maryland.

Apart from these conditions, there are no other major requirements specified.

However, BHG Money emphasizes that meeting all criteria does not guarantee approval, as applications are subject to the company’s availability.

How do I Apply for the BHG Money Personal Loans?

To initiate the personal loan application process with BHG Money, individuals need to locate the ‘Check My Rate’ button on any page of the official website.

Upon accessing the application form, applicants are prompted to specify the desired loan amount and the purpose for the funds.

Following this, applicants are required to disclose their total annual income and current employment status, selecting from options like full-time employment, part-time employment, retired, self-employed, or government beneficiary.

Furthermore, applicants must provide details regarding their monthly expenses, including any existing loan obligations.

Subsequently, applicants are asked to furnish personal information such as their full name, date of birth, phone number, email address, social security number, and complete residential address.

Once the form is completed, it is submitted to BHG Money for review, which typically takes up to 24 hours for analysis.

During the assessment process, BHG Money may request additional documentation, such as a driver’s license or other forms of identification, recent pay stubs, and proof of residency.

Alternatively, individuals visiting the homepage can opt to simply submit their contact information to receive assistance from the brand.

Finally, customers can contact the company directly for further inquiries or assistance with the application process.

More Details

Although the assessment process generally spans up to 24 hours, it may take up to 5 days for funds to be transferred to the bank account.

Therefore, barring any complications, borrowers can expect to receive the funds within 5 days, regardless of the loan amount.

BHG Money’s loan services are accessible around the clock, facilitated by an entirely online application process via the internet.

Notably, BHG Money doesn’t impose a lock-in period or prepayment penalty.

Want to learn about another option?

Regions Bank offers loan plans of up to $50,000 for existing customers of any of the bank’s services, all with the security of one of the country’s leading banking companies.

Additionally, you receive a 0.25% discount for automatic payments, and you can see how to apply.

Written by

Gabriel Gonçalves