BHG Financial Personal Loan Review
pros and cons
requirements
Aside from a minimum credit score requirement of
How to get a personal loan with
You can apply for a loan online, on its website. Here’s what to expect when filling out an application:
- First, you’ll need to specify how much money you’d like to borrow and the reason for your personal loan. Then, you’ll need to provide your basic information, such as your name and contact information.
- Next, you’ll need to supply information about your income level, your source(s) of income and your occupation.
- Once you’ve submitted your application, you’ll work with the lender to verify your information. For instance, you’ll need to provide pay stubs to verify your income and government-issued identification to prove your identity.
- After your information has been finalized and your loan application is officially approved, you’ll need to sign a loan agreement. You can expect to receive funds within five days of approval.
How compares to other personal loan companies
Even if you believe stacks up against similar personal loan lenders.
| LendingTree’s rating | 3.7/5 | ||
| Minimum credit score | Not specified | ||
| APRs | (with autopay) | ||
| Loan amount | |||
| Repayment term | months | months | months |
| Origination fee | |||
| Funding timeline | May receive funds up to five days after approval | May receive funds as soon as the same day as approval | Receive funds within one to three business days |
| Bottom line | could be a good fit if you need a lot of money and have time to wait for it. It offers loans as large as , but it could take up to five days to get your funds. | With zero fees and low interest rates, LightStream also offers large loans. But unlike BHG Financial, LightStream requires good to excellent credit. | Wells Fargo has cheaper rates and a faster turnaround time than BHG, but you have to be a client for at least a year to be eligible. |
How we rated
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings.
Frequently asked questions
BHG is not especially hard to get approved for since it requires a credit score of at least 660, which is fairly standard. However, its average borrower has a 744 FICO score, no bankruptcies or delinquencies and makes $241,000 a year. So, while you might be approved with a lower score, BHG probably won’t offer its largest loan amounts or longest terms.
When applying for a BHG Financial loan, you will have to verify your income. You may have to provide documentation, such as pay stubs or tax returns.
It can take up to five days before you receive your personal loan from BHG Financial. If you need money fast, consider lenders that specialize in quick loans, instead.
Get personal loan offers from up to 5 lenders in minutes