Helpful FAQs for customers

1. Does applying affect my credit?

No. Pre-qualification uses a soft pull (it does not impact your score). The lender will only do a hard pull if you advance on the chosen offer.

2. Are there additional costs or penalties?

No prepayment penalty: You can pay off the loan sooner and save interest.

No processing fee for loans over $40,000. For smaller loans, some lenders charge a 1%–6% origination fee.

3. What type of loan is it?

Most are unsecured personal loans, although personal lines of credit may also be available, depending on the lender.

4. How long does funding take?

Fast approval (within hours), and funds deposited in 1–2 business days for qualified customers.

5. What if the customer has bad credit?

Acorn lists lenders that accept a variety of credit profiles. Not all will be approved, but options are sought even for low scores.