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Earnest Expansion

Earnest Personal Loan Homepage Screenshot

One of the core missions at Earnest is to offer better access to credit to all Americans at better prices at earlier ages. Today in the Wall Street Journal we announced a major expansion to the way Earnest serves its clients. We have improved our product in four new ways to serve you better:

  1. We are lowering the rate on our 1-year loans to 5.5%
  2. We will begin offering 2-year loans at 6.5%
  3. We will be offering loans up to $20,000
  4. We will be expanding into some great new states

First, we are lowering our interest rate on 1-year loans from 6% to 5.5% for all clients – yes still one flat rate! For everyone who received an Earnest loan over the last few months, we are automatically lowering your rate as well. Any interest that has previously been paid above the new 5.5% will be applied to reduce your principal amount. It’s the right thing to do. We hope current and future clients are as thrilled as we are about this.

Second, in addition to our current 1-year loan at 5.5%, we will now be offering 2-year loans at a flat 6.5%. These longer loan terms are meant to make our clients’ lives easier by giving them lower monthly payments and a great interest rate. This is a huge step in the direction to make Earnest available to even more people.

Third, we are increasing our loan amounts and are now offering up to $20,000. Even though our average loan amount today is just over $6,000, for many of you $10,000 has been too little for things like a home improvement project or your move across the country. We heard you and are thrilled to double the amount we offer.

Fourth, we are launching in more states! As of this moment we will now be lending in California, New York, Pennsylvania, Texas, Connecticut, New Jersey, and Utah! Along with Massachusetts and Florida, that makes nine great states, with many more to come soon. We are adding states as fast as we can, so if you want Earnest in your state next, please sign up at – we use our signups to tell us which states to move into next.

We are so excited about this expansion and are constantly working to improve and innovate. If you have any ideas about ways we can be better, send me an email at


Louis Beryl Signature

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Earnest is a technology company using software automation, smart design, and exceptional service to restore trust in the lending industry and help clients take control of their finances.