Pennie has assisted millions through its platform and earned a 4.9 Trustpilot rating. But is the income-focused loan marketplace right for you? Here’s what borrowers should know.
By: Gerome Alvarez
The personal loan market is crowded. Between direct lenders, banks, credit unions, and online marketplaces, borrowers have no shortage of options — but finding the right fit can be overwhelming, especially for those whose credit scores don’t reflect their current financial reality.
Pennie, the loan marketplace at trypennie.com, has positioned itself as an alternative for borrowers who’ve been overlooked by traditional lenders. Its income-focused model evaluates earning power rather than relying solely on credit scores. But does the platform deliver? Here’s an honest look.
What Is Pennie?
Pennie is a consumer-first loan marketplace that connects borrowers with personal and debt consolidation loan offers from a nationwide network of lenders. It’s not a direct lender — it’s a platform that matches borrowers with options based on their financial profile.
The key differentiator is Pennie’s income-focused approach. While most lenders set minimum credit score requirements (often 620 or higher), Pennie connects borrowers with lending partners who evaluate income, employment stability, and ability to repay. This income-driven model opens doors for workers with steady paychecks but damaged credit — people recovering from job loss, medical emergencies, divorce, or other financial setbacks.
How It Works
The process is straightforward:
- Apply in 60 seconds — Borrowers complete a short application with basic financial information
- Soft credit inquiry — Pennie uses a soft pull that doesn’t affect credit scores at the offer stage
- Compare offers — Borrowers review personalized loan offers side-by-side in a private dashboard
- Choose or decline — There’s no obligation to proceed, and no outside parties contact you unless you move forward with a specific lender
Loan amounts up to $250,000, repayment terms up to 10 years, and starting APRs as low as 5.99% may be available depending on borrower profile and lender criteria. Qualified applicants can receive funding as soon as next day.
What Sets Pennie Apart
Income-focused qualification: The platform serves borrowers that traditional lenders often reject. If you have a steady income but a credit score that doesn’t reflect your current stability, Pennie’s lending partners may still consider your application.
Privacy protection: Pennie does not sell or share customer data with third parties. This is a significant departure from lead generation sites that monetize borrower information by passing it to multiple partners, resulting in the flood of calls and emails many applicants experience elsewhere.
Scale and track record: 32 million people have been funded through the Pennie platform, with over 350 million loan offers delivered to date and over 200 million customer inquiries processed in 2024. These aren’t projections — they reflect real borrower activity.
“We built Pennie for people who’ve been told ‘no’ by traditional lenders,” said Sam Mkhitaryan, Co-founder of Pennie. “A credit score is a snapshot of the past. We wanted to create a platform that evaluates borrowers on where they are today.”
What Borrowers Are Saying
Pennie holds a 4.9 rating on Trustpilot. Common themes in reviews include:
- Fast, simple application process
- Multiple offers to compare
- No pressure sales tactics
- Clear explanations of terms
- Funding delivered as noted
The positive reception suggests the platform is delivering on its core commitments— particularly around speed, transparency, and respectful communication.
Who Is Pennie Best For?
Pennie is well-suited for borrowers who:
- Have a steady income but imperfect credit
- Want to compare multiple loan offers without affecting their credit score
- Value privacy and don’t want their data sold to third parties
- Are seeking personal loans or debt consolidation options
- Have been turned down by traditional lenders
Pennie may not be the best fit for borrowers with excellent credit who want a direct lender relationship — those borrowers may find better rates going directly to a bank or credit union.
The Verdict
Pennie delivers on its core value proposition: income-focused lending that serves borrowers traditional lenders overlook, wrapped in a privacy-first platform that doesn’t treat applicants as products to be sold.
The 60-second application, soft credit inquiry, and side-by-side offer comparison make it easy to explore options without commitment. The 4.9 Trustpilot rating and 32 million funded borrowers suggest the model is working.
For everyday Americans whose credit scores don’t tell the whole story, Pennie offers a legitimate path to personal and consolidation loans. For more information, visit trypennie.com.
Frequently Asked Questions
How do I qualify for a Pennie Financial personal loan?
Qualifying is straightforward. You’ll need to be at least 18 years old, have a valid U.S. address and Social Security Number, and have verifiable income. You’ll also need an active bank account where funds can be deposited.
Pennie’s lending partners evaluate your ability to repay — your income, your expenses, your overall financial situation — rather than relying solely on a credit score to make decisions.
What types of income qualify?
Pennie accepts many forms of income, as long as it’s consistent and can be verified: employment income (W-2), self-employment and freelance income (1099), Social Security benefits, disability income, retirement or pension income, military pay and benefits, alimony or child support, rental income, and other documented income sources.
The common thread is that you have a regular income and can provide documentation of it.
Can I get a loan with bad credit?
Yes, it’s possible. That’s a big part of why Pennie exists.
Traditional lenders often turn people away based solely on credit scores, without considering the full picture. Pennie’s lending partners take a different approach—they look at your income, current financial situation, and ability to make payments.
This doesn’t mean everyone gets approved, nor does it mean credit history is ignored entirely. But it does mean you have a real chance to be evaluated beyond just a number.
Does Pennie sell my information?
No. Pennie does not sell or share customer data with third parties. Borrowers review offers in a private dashboard and communicate directly through the platform — no flood of calls from outside marketers.
Disclaimer: The information provided is for general informational purposes only and does not constitute financial, legal, or professional advice. Borrowers should carefully consider their options and consult with a qualified professional before making any decisions.
