MoneyGeek’s Take

Thrive Personal Loan Review

Thrive Financial Inc., referred to as Thrive, provides quick, affordable loans designed for students and fresh graduates who have an internship or employment offer lined up. Their ThriveCash loan has no fees, no penalties and requires no minimum credit score, making it an easy financing option for those in a pinch.

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Last Updated: 10/25/2022
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Recent graduates and students who need cash quickly can benefit from the ThriveCash personal loan which can cover expenses that student loans don’t. Whether it’s for your flight home, a new lease, or moving expenses, Thrive can provide the funds you need within one business day.

At a Glance: Thrive Personal Loans


  • Thrive Cash

    • 8.4% to 18%APR Range
    • NoneMinimum Credit Score
    • $250 to $25,000Loan Amount Range
    • 3 monthsRepayment Terms
    • Next DayTime to Receive Funds

MoneyGeek Breakdown - Thrive Personal Loan Details and Requirements

  • APR

    8.4%-18%

  • Credit Score Requirements

    None

  • Income Requirements

    None

  • Loan Amounts

    Loans are offered up to $25,000, but the amount offered depends on your salary offer.

    • For internship offers: Up to 25% of your total internship salary
    • For full-time job offers: Up to 25% of your first three months’ salary and half of any signing bonus
  • Loan Terms

    Repayment starts one month after beginning your job or internship and continues until the loan is paid off. This will vary based on your individual circumstances.

  • Permitted Uses

    None

  • Prohibited Uses

    None

  • Time to Receive Funds

    One business day

  • Origination Fees

    None

  • Late Fees

    None

  • Prepayment Penalty Fees

    None

  • Co-signers and Co-applicants

    Not required

  • Perks

    Flexible repayments that consider your circumstances

  • Mobile Application

    Yes, for application and loan management

Is Thrive Right for You?
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Before getting a ThriveCash personal loan, review Thrive’s offer. Every lender and offer is different and there are still factors you should consider before applying.

Who Thrive Is Perfect For

A ThriveCash personal loan is perfect for any graduate or undergraduate student who needs cash but has no credit or other financial resources to cover their expenses. It also suits students who simply want to take charge of their finances and do not want to borrow from their parents or relatives.

ThriveCash loans are also great for students who need to pay for expenses their student loans can’t, such as flights home, car payments, moving expenses, or credit card debt.

Who Should Not Choose Thrive

While loans from Thrive may be ideal for students in a pinch, it may not be the best option for those who need to borrow a considerable sum of money. The more you borrow, the higher your monthly payment, and you may have to pay more than the cost to repay a traditional loan.

The ThriveCash loan is also not an option for students or recent graduates who either don’t have a job or internship lined up or have already started working. The company limits its loans to those who have not begun working during or after their education.

How to Apply for a Thrive Personal Loan

Applying for a loan from Thrive can be done easily through their mobile application. If their offer sounds right for your needs and you’re ready to get started, read the steps below to know what to expect during the application process.

1

Download the ThriveCash application

Navigate to your phone’s mobile application store and download the ThriveCash application, which is available on both iOS and Android phones.

2

Fill Out Application Form

Submit your offer letter and school email address through their mobile application.

3

Wait for Approval

After submitting your details, Thrive will provide you with a maximum loan amount based on your job offer.

4

Set Your Loan Amount and Repayment Terms

Once you get approved, you can set how much you want to borrow based on your limit and your repayment terms. This includes when your first payment is due and if you want to pay monthly or at once.

5

Receive or Direct Funds

When you’re done setting your loan amount and repayment terms, Thrive will send the funds to your bank account as soon as the following business day.

6

Make Payments

Repayment begins one month after starting your job or internship. You can also pay earlier than the due date or pay it off in one lump sum, even if you have a monthly repayment set.

What to Do if You Are Rejected From Thrive

While ThriveCash personal loan offers are mostly based on your job offer letter and not your credit score or past income, it’s still possible to receive a rejection.

One of the reasons Thrive may reject you is if you have significant outstanding credit card debt. The application process involves a soft credit inquiry, which can already indicate whether you are suitable for a loan or not. You will also get rejected if you do not meet the profile criteria of a recent undergraduate or graduate student with a job or internship offer.

Getting a loan rejection can be crushing, especially if you’re in need of cash. Make sure to reach out to Thrive to ask for the reasons behind their rejection. Understanding why it happened is vital to prevent it from occurring again. You should also make plans to correct any reasons for rejection before applying for a different loan.

Frequently Asked Questions About Personal Loans

While Thrive’s personal loans are fairly straightforward, first-time loaners may still have some trouble. If you’re looking to get a ThriveCash personal loan, review the answers to the most frequently asked questions below.

Read More on Personal Loans

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity.