Splash Financial: this s a popularly known digital lending platform, which helps those in need of money to shop & compare financial packages from the company’s network of loan providers.
According to our research, see below for the company’s details (Splash Financial), its location, and the total number of members on the platform.
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Splash Financial Online Niche Details
- Company’s Location – Cleveland _ Ohio in the US.
- Number of employees in the company – over 200 employees.
- Recent funding type on the company – Series B
- Official Website – splashfinancial.com
- Company’s total funding amount – $60.9M
- Total number of contacts – 53
- Available Employees profiles on the official online platform – 4
- Number of investors & investing companies on the platform – 7
- Legal Name – Splash Financial, Inc.
- Date of company’s establishment – 2013
- Founder of the company – Steven Muszynski
- Operating Status – Active
- Contact Email – info@makeasplash.com
- Contact number – 800-349-3938
For further reviews on Splash Financial, read on below & find out more.
Company Overview
Splash Financial: all financing company out there has a specific mission to achieve to accomplish, and so as Splash Financial.
According to the company’s official platform, its major mission is to ensure & assist those having financial issues in a way that at the end of their mission those feeling downgraded because of their financial issues will be more powerful than their debts.
Via a splash-powered network of credit unions & bank partners, the company assists borrowers to compare financially & easily shop products.
Also, Splash’s innovative hybrid marketplace approach and automated underwriting technology, it has helped normal people save hundreds of dollars on their student loans.
The DST Global, Citi Ventures, Detroit Venture Partners, CMFG Ventures, and Northwestern Mutual Future Ventures have all invested in Splash, which has raised over $60 million in venture financing.
Over the previous years, splash financial has made a splash in the student loan refinancing market due to its offers of the best rates in loans & the best student loan bonuses.
Additionally, the company started by centering its attention on medical school loan refinancing. However, they’ve expanded their services, which currently they now offer a general student loan refinancing products, and it is currently disclosed to anyone with a bachelor’s degree.
Splash Financial – Student Loan Offers
Currently, splash financial is offering all college investors, and readers, a $500 bonus for refinancing at a minimum of $50,000.
Meanwhile, the variable APR for each loan amount is ranging from 1.74% – 7.49% APR, while for the fixed APR you have 1.99% – 7.84% APR. According to the company’s loan lasting period, the loan term can last from 5 to 20 years.
Qualifications needed during the application
Splash Financial: during your application for student refinancing with a splash, you must be a graduate of an accredited institution.
Therefore, for your qualification for the application for a student refinancing loan, you must have an associate degree in any of the fields below.
- Respiratory Therapy
- Surgical Technology
- Radiation Therapy
- Physical Therapy
- Pharmacy Technician
- Occupational Therapy assistance
- Nursing
- Nuclear Technician
- EMT/Paramedics
- Dental Hygiene
- Cardiovascular Technologist (CVT)
- Diagnostic Medical Sonography
- Radiologic/MRI Technologist.
Without a degree in any of the specialized fields above, you have less chance of qualifying during the application for the Student Refinancing Loan.
Continue reading below to find out more about Splash Financial & their offered services.
Splash Financial Application Requirements
The application requirement for Splash financial is divided into two sections, we have the financial requirement & the other requirement. Read on below to find out more about these requirements.
Financial Requirements
- You must have a credit score of 650 (however, this differs among loan providers on the platform).
- A minimum income rate of $42,000
- As a borrower, you must have a credit score of at least 770
- Also, the income of the approved borrower – $107,000 should be on deck.
- According to loan providers, the maximum debt–to–income ratio at maximum is 65%.
- You are eligible to qualify if you’ve filed for bankruptcy.
Other Requirements
- You must be a permanent resident of the United States.
- Application is available in the 50 states of the US.
- You must be a graduate with a bachelor/Ph.D. degree.
- Finally, your institution must be an authorized school that receives federal aid.
Splash Financial Fees/Interest rates/Terms & Repayment Options
On the splash financial, you can check for soft credits to see what rate you will get after application.
For most of the loan term & loan amounts offered by loan providers on Splash Financial, for loan terms – you can get about 5-20 years of loan availability. While for loan amounts – you can borrow from the range of $10,000 – $500,000.
Also, using splash financial, you can transfer a parent loan to a child. You do not need an application or origination fee during applications.
Unlike other Student loan refinance providers, Splash financial has no prepayment penalty. Depending on your lender, you can be charged about $10 – $15 for late fees.
Splash Financial Review – Splash’s Merit & Demerits
In every company, you will always find merits & demerits associated with the company especially when it comes to loan service rendering platforms.
And also, Splash Financial is one of those companies, therefore, see the below merits & demerits within the company.
Merits
- On your application, you will be assigned a trusted account representative.
- Without a hard credit check on your application, there’s a display that shows if you will qualify, and the rate you are to reach before your application will be a success.
Demerits
- Loan features differ by the lender – this means that not all loan providers on the platform offer the same features.
- No availability of death discharged or forbearance loan
- Before your qualification is a success, you need to be part of a credit union.
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