Tare Personal Loans Review

Our take on Tare

Blockchain isn't just for cryptocurrency anymore, as evidenced by fintech lender Tare. The company recently launched a personal loans platform that uses blockchain technology to consolidate loan origination and loan servicing into a single unit with the goal of making lending simpler and faster.

As a new lender, Tare hasn’t built the reputation or history yet to score as well as some of our more established lenders. But Tare is compelling. Unlike many other lenders, it originates and services loans — claiming this results in lower loan costs. It also does not require document uploads, streamlining the application process, and can send money the same day you’re approved. However, limited state availability means that borrowers in nearly half of the U.S. won't qualify.

Personal loans are available to borrowers in the upper range of fair credit, with few restrictions on loan uses.

Who or what is Tare best for?

• Borrowers with fair credit: Tare's minimum credit score of 640 is on the upper end of FICO's fair range (580-669) but still within striking distance for many fair-credit borrowers.
• Fast application: Tare offers a three-step, no-document application process. Instead of uploading statements or pay stubs, Tare uses Plaid to connect directly to your bank to verify income and transmit funds.
• Fast funding: Tare personal loans can be funded as soon as the same business day. The lender credits its integrated origination and servicing model with helping provide fast funding.

Who or what is Tare not best for?

• No fees/straightforward fee structure: Tare has a 5% maximum origination fee, but the fee is lower — or doesn't apply at all — depending on where you live. Tare charges late payment and returned payment fees as well, and they also vary by state. 
• Widespread availability: Tare currently offers personal loans in a little over half of U.S. states, plus Washington, D.C. Many other lenders have nationwide availability or exclude just a small number of states. If you don't live in one of Tare's eligible states, you'll have to look elsewhere.
• Very large or very small loans: Loan amounts range from $5,000 to $50,000, which isn't a negative in itself. However, some comparable lenders offer a much wider range of loan amounts, including Happen Bank and Upstart ($1,000 to $75,000).

Pros and cons

Like any lender, Tare has advantages and disadvantages to consider when deciding whether it's the right choice for you.

Details on the pros

• 3-step application: Instead of uploading pay stubs or W2s, you simply connect your bank account to Tare to verify your income. The connection is handled by Plaid, a fintech service that provides secure, encrypted connections between bank accounts, lending platforms, and financial apps.
• Fair credit eligibility: You can qualify for a Tare personal loan with a credit score of 640 or better.
• Fast funding available: Tare can fund personal loans as soon as the same business day you’re approved.
• Wide range of loan uses: Approved loan purposes include credit card consolidation, home and auto repairs, medical expenses, moving, and more.
• Autopay discount: You're eligible for a 0.25% rate discount if you set up autopay.

Details on the cons

• Available in a small number of states: Tare personal loans are currently available in only 27 states and Washington, D.C., although the lender is seeking licenses in additional states.
• Limited repayment options: Tare offers only two choices for repayment terms, 3 years or 5 years. 
• Fees: Tare charges loan origination fees up to 5%, along with fees for late payments and returned payments. Origination fees vary by state but aren't charged in Illinois and Montana. Late payment and returned payment fees also vary by state.
• Not ideal for low-income borrowers: Tare's $40,000 minimum income requirement puts eligibility out of reach for borrowers seeking low-income personal loans. 

How to qualify for a Tare personal loan

Basic requirements to qualify for a Tare personal loan include:

• 640 minimum credit score
• $40,000 minimum annual income
• A bank account 
• Residency in one of the eligible states or Washington, D.C.

During the three-step application process, you're required to connect your bank account so that Tare can verify your income. The bank account also serves as the destination for the loan funds if you accept a loan. You also have the option to have money sent to a different account before funding.

Tare personal loan purposes

Tare has few restrictions on how you can use a personal loan. The list below is not all-inclusive.

Tare fees and penalties

Like most personal loan lenders, Tare doesn't charge prepayment penalties for paying off a loan early. However, it does charge:

• Origination fees: Up to 5%, varying by state. Capped below 5% in Kentucky, Louisiana, New Hampshire, Ohio, Tennessee, Texas, and Washington, D.C., and not charged in Illinois and Montana.
• Late fees: $10 or state maximum
• Returned payment fees: $15 or state maximum 

Tare vs. other lenders

Tare company details and history

Tare was founded in 2025 by three veterans of the credit and cryptocurrency industries. Headquartered in Brooklyn, New York, the company also has offices in Lisbon, Portugal.

Contact information

Tare offers customer support 24 hours a day, 7 days a week. You can reach Tare by:

Phone or text: 1-855-752-3843

Email: [email protected]

You can email general inquiries to [email protected] or mail Tare at:

Tare Inc. and Tare Credit LLC
97 N 10th Street
Brooklyn, NY 11249 

Methodology 

Credible evaluated 32 lenders across 1,184 data points to choose the best lender overall plus top picks for different borrowers and use cases. Across lenders, we collected data on customer experience and service options, minimum and maximum fixed interest rates, minimum and maximum loan amounts, funding times, loan terms, fees, discounts, third-party reviews, and more.

We assigned a score to each attribute based on how that feature compared with the same feature for every other lender in the set. Scores were weighted according to their relative importance — for instance, maximum origination fee scores received a high weight since loan cost is among the most important factors in determining loan value. Individual attribute scores were then added to determine each lender's overall star rating.

Attributes were grouped into categories; each category contributed to lender scores as follows: 

• Borrower cost (22.5%): Origination fee ranges and minimum and maximum APRs measure upfront and overall costs and lender accessibility across credit score groups.
• Flexibility (22.5%): Maximum loan terms, number of loan purposes, minimum and maximum loan amounts, and availability of joint and secured loans measure the range of options for loan size, repayment terms, and loan types.
• Eligibility and availability (22.5%): Minimum income requirements, funding speed, minimum credit score requirements, and state availability measure how easily and how quickly borrowers can access personal loans.
• Reputation (15%): Trustpilot, Better Business Bureau, and J.D. Power ratings measure customer satisfaction.
• Discounts, customer service, and account management (12.5%): Discounts for autopay and direct pay, plus availability of mobile apps and live customer support chat, measure borrower perks and ease of loan management.
• Partner lender data (5%): Data from loans closed by our partners, including average rates, loan amounts, funding time, and eligibility criteria, measure real-world performance and borrower outcomes.

Non-partner lenders were evaluated based on the same criteria but not assigned star ratings. Learn more about how Credible rates lenders by exploring our full personal loans lender rating methodology.