Achieve (Formerly FreedomPlus®) Personal Loans: 2025 Review
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Overview of Achieve (Formerly FreedomPlus)
Achieve, which used to be called FreedomPlus, offers personal loans ranging from $5,000 to $50,000 with an APR of 8.99% to 29.99%. The lender offers discounts to borrowers that may lower the interest rate, as well as same-day loan approval and repayment terms of up to 60 months. However, Achieve does not serve residents in every state and may charge loan origination fees.
The Takeaway: If you live in a state that Achieve serves, meet its eligibility requirements, and need a relatively high loan amount quickly, an Achieve loan might be right for you. But be prepared to pay an origination fee.
Pros and Cons of Achieve
Pros of Achieve
User-Friendly Online Prequalification
You can find out in minutes if you prequalify for an Achieve personal loan. All you need to do is fill out a simple form on the website with the amount you want to borrow, what you intend to use it for, and your personal information.
Same-Day Loan Approval
If you decide to move forward with a prequalified personal loan offer, you can submit an application and receive a same-day decision. This quick turnaround can be useful, as noted in Achieve (formerly FreedomPlus) reviews, especially if you need the money quickly. You could receive funds in your account within 24 to 72 hours.
Multiple Repayment Options
Achieve offers repayment terms that range from two to five years. You can select a term that meets your monthly budget and borrowing preferences. Achieve does not charge a penalty for paying off a loan early.
Interest Rate Discounts
Borrowers can access discounts that help lower their personal loan interest rate. For instance, adding a co-borrower to your loan provides a rate discount, as does using funds to directly pay off creditors for debt consolidation (referred to as a direct pay discount).
Additionally, prospective borrowers with sufficient savings in a retirement fund may qualify for rate discounts on an Achieve personal loan.
Cons of Achieve
Origination Fee
Achieve charges a personal loan origination fee, which adds to your total cost of borrowing as reflected in your annual percentage rate (APR).
Can’t Complete Loan Application Online
Some lenders allow you to apply for online personal loans seamlessly. If this is your preference, you might not find the hands-on approach of Achieve a good fit. To move forward with a loan application after prequalifying, you must work through the remaining application process via email or speak with a loan consultant about your eligibility and next steps. Achieve refers to this as a customized lending solution.
Not Available in All States
Achieve personal loans are not available in all 50 U.S. states. You can consider alternative options if you reside in a state not served by Achieve.
Not Ideal for Borrowers Who Need Small or Very Large Loan
If you need a small loan amount, such as $1,000, Achieve may not be right for you. The lender generally offers personal loans ranging from $5,000 to $50,000. This can be insufficient if you need a large personal loan.
Recommended: How Much Can You Borrow With a Personal Loan?
Achieve Personal Loan Terms, Rates, and Fees
Loan amounts: $5,000 to $50,000
APR range: 8.99% to 29.99%
Loan terms: Two to five years
Prepayment penalty: No
Application fee: Loan origination fees vary from 1.99% to 8.99%
Co-borrowers allowed: Yes
Approval speed: Same day
Information accurate as of Aug. 26, 2025.
Who May an Achieve Personal Loan Be Right For?
Borrowers who want to consolidate debt. Those who need a personal loan for debt consolidation have the option to apply the funds directly toward debt payoff with existing creditors. They can also get a discounted rate from Achieve for doing so.
Borrowers who want the flexibility to be able to pay off their loan early. Achieve charges no prepayment penalty.
Borrowers who need personal loan funds quickly. Achieve provides a same-day decision on loan approval, and you may be able to get the funds within 24 hours. Achieve personal loans may be ideal for those who need fast funding.
Who Achieve May Not Be Right For
Borrowers who don’t live in a state served by Achieve. Achieve personal loans are not available in all states.
Borrowers who want to avoid fees. Achieve charges an upfront origination fee. Some lenders don’t charge an origination fee, which may make Achieve personal loans more costly.
Borrowers who need to borrow a small sum or a large sum. Achieve personal loans generally range from $5,000 to $50,000. If you require a smaller or larger loan, you’ll need to find another lender.
What to Watch Out for With Achieve Personal Loans
Before moving forward with an Achieve loan, calculate how much the origination fee will cost you, and how it affects your budget.
Achieve personal loans are available in a limited number of states. Be sure to check if yours is one of them.
Be prepared to discuss your personal loan needs with a loan consultant, and provide additional documentation, if necessary.
Recommended: Guide to Personal Loan Qualifications
Achieve Personal Loan Eligibility Requirements
Achieve states that applicants don’t need “perfect credit” to qualify for a loan. Although your credit score is a consideration, it’s not the only factor the lender looks at to determine your eligibility. These are the Achieve eligibility factors:
Minimum credit score: 620
Income requirements: Not disclosed
Maximum debt-to-income ratio: Not disclosed
Cosigners allowed: Yes
Co-borrowers allowed: Yes
To receive loan funds, you must have a valid ID and verified income.
Repayment Options for Achieve Personal Loans
If you’re approved for an Achieve personal loan, you’ll typically have two to five years to repay the loan, plus interest and fees. Your loan term options should be provided either during prequalification or on the phone call with your loan consultant.
How to Apply for an Achieve Personal Loan
If you think an Achieve personal loan is right for you, you can fill out a preapproval request online. Here’s how to go through the process:
Select a loan amount and purpose for the loan. Choose from the drop-down list.
Enter your state. If your state isn’t served by Achieve, you’ll get a notification.
Enter your personal information. You’ll need to provide your first and last name, email address, and a valid phone number.
Employment information. The next few steps ask about your employment, including your employment status and your annual income.
Include your co-borrower’s income (optional). If you want to add a co-borrower to your loan, add their income, if applicable.
Enter your ZIP Code™ and address. Provide your residential address as recognized by the U.S. Postal Service.
Enter your birth date. Provide your birth date and then click “Continue” to allow Achieve to conduct a soft credit pull to determine your prequalification. This step won’t affect your credit score.
Speak with an Achieve loan consultant. If you’re prequalified, a loan consultant will reach out to you to discuss your borrowing goals, eligibility, and rate discounts that might apply. If you’d like to move forward with an application, you’ll need to submit a full application and Achieve will perform a hard credit inquiry.
Alternatives to Achieve Personal Loans to Consider
Achieve personal loans have pros and cons, as discussed, so it can be smart to compare your options:
Lender | Loan amounts | APR range | Maximum term |
Avant | $2,000 to $35,000 | 9.95% to 35.99% | 60 months |
$2,000 to $50,000 | 6.99% to 35.99% | 60 months | |
LendingClub | $1,000 to $60,000 | 7.04% to 35.99% | 84 months |
OneMain Financial | $1,500 to $20,000 | 18% to 35.99% | 60 months |
Prosper | $2,000 to $50,000 | 8.99% to 35.99% | 60 months |
Universal Credit | $1,000 to $50,000 | 11.69% to 35.99% | 60 months |
Upgrade | $1,000 to $50,000 | 7.99% to 35.99% | 84 months |
Some other options you might want to consider include:
LendingUSA personal loans
LightStream personal loans
PenFed personal loans
Upstart personal loans
With Lantern by SoFi, you can quickly and easily compare personal loan options from multiple lenders, including Achieve, all in one place. Just fill out one simple form, explore your financing options, and apply for a personal loan that fits your needs.
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