Loans Like Seedfi

Most of us have faced a time when extra money could be useful. If you are finding yourself in need of some extra cash, then you may come across options like Seedfi. Seedfi was an online lender and may still come up when you search for a Personal loan online. Continue reading about Seedfi’s past and present, along with an alternative option—a personal loan with CreditNinja!

Why Personal Loans Work Well for Emergency Expenses

If you have an emergency expense and need to borrow money, you may have a few different loan options available depending on why you need the money. For example, if you are trying to pay off debt, you may find debt consolidation loans helpful. If you are trying to make emergency home repairs, you may come across home equity or improvement loans. Or if you don’t have the best credit score, bad credit installment and payday loans may come up. 

One option that may come up regardless of what you want to use your money for, may be personal loans. Personal loans can be found with several lenders and are extremely popular. Why are personal loans some of the most popular loan options out there? Here are some qualities of these loans that may make them a good choice for a short-term emergency:

  • Personal loans are typically fast.  
  • They can be short-term or long-term loans depending on the lender.
  • Unsecured personal loans don’t require collateral.
  • You usually don’t need a lot of documentation for a personal loan.
  • Typically, personal loans have an easy application process.
  • With a fixed-rate personal loan, you get steady, predictable payments.
  • The funds from a personal loan can be used for almost any emergency! 

And so, as you can see, personal loans are a relatively simple and versatile loan option. They are designed to help people get funding for a short-term emergency.

Finding the Right Personal Loan

When you begin your search for a personal loan, you may come across a variety of options—especially if you have good credit. It may be tempting to go with the first potential offer, especially during an emergency. However, it can be helpful to compare loan options! 

If you haven’t spent a lot of time comparing loan options before, it may seem a little daunting. However, if you know what factors to look at, then it can be easy to figure out what personal loan is right for you. Here are some of the variables to consider:

The Monthly Payments on Your Loans

The monthly payment for a potential loan will be a critical part of how your loan payment will go. You want a loan that fits comfortably with your budget each month! 

A loan whose monthly payment is a challenge to pay may result in late payments, which may lead to default. And so, it is important to find a loan whose monthly payments fit your budget well. 

If you need help calculating your monthly payment, you should be able to ask your lender. 

You can also use CreditNinja’s personal loan payment calculator, which will give you an estimated monthly payment in a few minutes! 

Your Loan Amount

Ideally, your personal loan amount should cover whatever cost you are looking to pay for. You also never need to borrow more money than you need, even if you are approved for maximum unsecured loan sizes!

The Repayment Terms for Your Loan 

When talking about repayment terms, it will be essential to pay attention to how long or how short your loan is. In general, when borrowing the same amount with similar rates, the longer the loan, the lower the monthly payment, but the more interest you will pay over time. In contrast, a shorter loan may mean a higher monthly payment but less interest to pay over the life of the loan. 

So, with that in mind, look for a loan that fits whatever your specific needs are. Another aspect of repayment is the repayment term. This includes the minimum amount you need to pay each month, along with rules for fees and penalties. 

The Interest Rate

The interest rate for a personal loan isn’t the only cost, but chances are that it will be the most expensive. Interest is the amount you pay to your lender for borrowing funds, and it is critical to pay attention to that when picking a personal loan. Keep in mind that the better your credit score and credit history, the better interest rates you will get. While a low credit score will mean higher interest rates because of the potential risk for the lender. 

Any Potential Costs Associated With the Loan 

Most loans have origination fees/service fees associated with the loan. And because they can impact the cost of borrowing funds, it is important to pay attention to them. 


APR is calculated using the total cost of your loan, including the interest and fees you will have to pay your lender. When trying to compare total loan costs, it is essential to pay attention to APR and not just the interest rate. 

The Lender Themselves

The lender is a critical factor to consider. You can find personal loans with several different types of lenders. For example, you can look at traditional lenders like banks, credit unions, or private lenders in person or online. With a credit union or bank, they may not work with borrowers who have low credit scores, while private lenders may be more flexible. 

Loans Like Seedfi: What You Need To Know

Seedifi was a lender that was founded in 2019 in San Francisco. Their products were made for two main purposes: to help bad credit borrowers get access to funds while they build their credit scores. 

Their personal loan products were called: Borrow & Grow personal loans. Borrow & Grow personal loans allow borrowers to use a portion of their loan funds right away while the other half goes into a savings account. Which the borrower will get access to once they repay their loan. These loans worked well for borrowers who have bad credit, need funds, and are trying to rebuild their credit. It also helped with building a savings balance. 

Along with their personal loan, Seedifi also offers lines of credit, which allow a person to borrow multiple times until they reach their credit limit—similar to credit cards or other forms of revolving credit. Along with their personal loans and lines of credit, Seedifi offered a standard credit-building loan option. 

How Does a Credit Builder Loan Work?

Most of us know how personal loans work but may not know how credit builder loans work. Because Seedfi loans combine personal and credit builder loan options, it will be essential to understand how credit builder loans to get the full picture of what Seedfi used to offer. 

Credit builder loans are designed for consumers who either don’t have any credit or are trying to improve their credit. With these loans, borrowers pay their lenders, who then put their money aside into a savings account. This savings account will earn a small amount of interest. Once those payments are complete, the borrower will get the funds from their savings account. 

While those payments are made, they will likely be reported to at least one of the major credit bureaus. As a borrower makes their payments on time, they may improve or build their credit score! Because payment history is the largest factor that can impact credit scores, a credit builder loan can really help with improving or building positive credit history! 

The best credit builder loans have manageable monthly payments, get reported to all three credit bureaus, and have a decent return.

How Much Did Seedfi Offer With Their Personal Loans

When Seedifi had their personal loans, they offered up to $7000 as a standard for their maximum unsecured loan size, which up to $4,000 of may be available immediately. 

For example, let’s say you are approved for the whole $7,000, you won’t get it all immediately; at minimum, $4,000 will be put into a separate interest-bearing savings account, and the rest will be available in your checking account. 

What Did Loan Payments Look Like With Seedfi?

With Seedifi, repayment could have started at $10, depending on your specific repayment plan. Some of that money would go towards paying off that savings account and the other towards any balance that you borrowed. Once you repay your borrowed amount and have paid toward the savings, you will get access to the amount in the savings account. 

The Main Purpose of Seedifi Loans?

When Seedifi was operating as a lender, the main purpose of their loans was to provide credit builder loans. Because the entirety of the funds from these loans was usually unavailable immediately, they may not be able to help someone during an emergency. 

And so, not surprisingly, Seedifi loans were usually sought out by borrowers who were looking for an approachable way to improve their credit!

What Happened to Seedfi?

In early 2023, Inuit, the company that owns Credit Karma, TurboTax, Mail Chimp, and QuickBooks bought out Seedfi. More specifically, Seedifi merged with Credit Karma. And the company does not offer lending products anymore!

CreditNinja: How Does It Compare?

Although Seedfi does offer unsecured personal loans anymore, you can look to CreditNinja.! At CreditNinja, we offer personal loans that can be used for almost any short-term emergency! 

Wondering about the different benefits that can come from our loan process? Here is what you can expect when working with us for a personal loan option: 

Competitive Interest Rates

The interest rates for your loans are highly competitive, even for borrowers with lower credit scores. And so, instead of applying for bad credit installment loans with another financial institution, you can look at an unsecured personal loan with CreditNinja for competitive rates. 

Our Loan Amounts Vary

Whether you need a smaller or larger loan, when working with us, the loan amounts range quite a bit which can fit a variety of expenses! This can be highly convenient for borrowers who are looking for a good in-between or simply want a more personalized repayment schedule. 

When working with traditional financial institutions like credit unions or banks, you may find that repayment terms are extremely rigid and built-in, not really taking into consideration how everyone’s financial situation may differ. 

Exceptional Customer Service

When working with our team, you can expect a smooth process. And if you have any questions or concerns before or after your loan application, you can rest assured that our team will be helpful, attentive, and easy to get in touch with. 

Loan Proceeds Can Be Fast 

Once approved for a personal loan, the loan proceeds can be deposited right into your bank account! There is no need to travel anywhere or go through a waiting period in-person. Loan proceeds will be made available as soon as they hit your bank account. 

The Application Process Is Simple

Applying for an installment loan with CreditNinja is extremely simple! You can start and complete the entire application from the comfort of your home. The application requires some basic information about yourself, your finances, and your desired loan amount. 

You Can Apply Even With a Bad Credit Score or Credit History 

Even if you don’t have the best credit score or credit history with the three major credit bureaus, you can still apply for a personal loan with CreditNinja! We’ve helped many people in the past who didn’t have a perfect credit score or credit history get access to emergency funding. 

Flexible Loan Terms

When looking for manageable loan terms, CreditNinja is a great place to start! One example of how flexible our loan terms are is that you can pay your loan early without any penalties! Remember that many lenders—good credit and bad credit lenders—don’t offer this flexibility and have prepayment fees! Additionally, our loan terms are transparent from beginning to end; there will be no hidden fees with the process!

What Can I Expect With the Application Process?

The application process when working with CreditNinja will generally look like this: 


You can get started with an online application through our website! 


Once you start your application, you’ll have to fill out some basic information about yourself and your finances. 


Once you submit your application, you’ll find out about approval fairly quickly! 


If you are approved, the last thing you need to do is go over the loan contract and sign. After that, the funds will be deposited into your bank account. It’s that easy! 

What Will Repayment Look Like When Working With CreditNinja?

Repayment with a CreditNinja is simple! You’ll repay your loan in monthly payments until the loan is paid off in full. The great part of our loans is that the monthly payments can be predictable, unlike revolving accounts such as credit cards. And as mentioned earlier, you can always repay your loan early without worrying about any fees or penalties. 


Intuit Acquires Seedfi | Yahoo News

SeedFi credit-builder loan review | Credit Karma

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Quick And Easy Personal Loans Up To $2500*