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Fiona is a marketplace lender, providing a fast and comprehensive way to compare products and services from a variety of top lenders. Fiona is not limited to personal loans, but also provides options for services such as student loan refinance, mortgages, and credit cards.

You can easily get matched with a loan offer for free and with no impact to your credit score. Offers are populated based on your credit rating, zip code, loan purpose, and preferred loan amount.

Continue reading for a complete review of this personal loan service.

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The Good

  • Reputable Lender Network
  • Choose from Multiple Lenders and Offers
  • Loan Options for Poor Credit
  • Loan Options for a Variety of Purposes

Reputable Lender Network

Fiona’s personal loan lender network includes many reputable personal loan lenders, such as the following:

  • CreditFresh
  • LendingPoint
  • Prosper
  • FreedomPlus
  • LightStream
  • Upgrade
  • Bankers Healthcare Group
  • Best Egg
  • SoFi
  • OneMain Financial
  • Payoff
  • Fig Loans
  • OppLoans
  • Avant
  • Marcus: By Goldman Sachs
  • Upstart
  • LendingClub
  • NetCredit

 

Choose from Multiple Lenders and Offers

Based on the information you provide (credit rating, zip code, loan purpose, and loan amount), Fiona will pair you a select few lenders from its network. Lenders will be displayed with an APR range, monthly payment, and term length based on your information, allowing you to choose the best offer for your specific needs.

Loan Options for Poor Credit

One advantage of working with Fiona is that you can search for lenders by credit score. This is particularly good news if you have poor credit, because you will only receive lender options that provide loans to borrowers with less-than-perfect credit.

Loan Options for a Variety of Purposes

Fiona will match you with lenders based on your desired loan purpose. This allows increased flexibility in finding the right loan to fit your specific needs whether that be debt consolidation, credit card refinance, home improvement, medical expenses, etc.

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The Bad

  • Not a Direct Lender
  • Pre-qualification and Qualification Not Guaranteed
  • No Free Credit Monitoring

Not a Direct Lender

Fiona is not a direct lender, which means that the company doesn’t process and fund loans in-house, but in turn refers borrowers to lenders in its network. While this isn’t necessarily bad, it can be a drawback because you won’t be able to find information on rates, terms, fees, or a minimum credit score up front. Instead, this information will be reliant on the lender that you choose to work with.

Pre-qualification and Qualification Not Guaranteed

Although it is easy to check loan offers, that does not guarantee that you will pre-qualify or qualify for a loan with one of Fiona’s lenders. In addition, you may not receive your desired loan amount or a competitive interest rate even if you do qualify, which may require you to do further research on personal loan lender options elsewhere.

No Free Credit Monitoring

Fiona encourages borrowers to check their credit because a high credit score can ensure better rates and terms. However, the company will direct you to its partner, TransUnion’s, website, which is not a free credit monitoring service.

Other companies and services also provide free credit monitoring.

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The Bottom Line

Fiona is an online loan marketplace, providing borrowers with multiple lender options based on provided information. It is free to get matched with loan offers, and all you need to provide is your credit rating, zip code, loan purpose, and loan amount. 

The advantage of working with a marketplace lender is that there are lender options available even if you have poor credit. However, as you will notice on the Fiona website, lenders that serve low credit borrowers have much higher rates and monthly payments than other lenders.

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