Proper Funding Loans: How They Work and Are They Legit?

Are you drowning in high-interest credit card debt? Proper Funding Loans may offer a lifeline. This Michigan-based lender provides unsecured personal loans tailored specifically for credit card debt consolidation.

Proper Funding Loans
Proper Funding Loans

With promises of easy approval, no collateral, and better rates, Proper Funding Loans aim to help borrowers take control of ballooning credit card balances. But are their loans too good to be true? How exactly do they work and can they save you money?

What is Proper Funding and How Do Their Loans Work?

Proper Funding is a personal loan lender based in Rochester Hills, Michigan. They specialize in unsecured debt consolidation loans designed specifically for paying off credit card balances.

Here is an overview of how their loans work:

  • Loan amounts from $5,000 to $55,000
  • Interest rates advertised as low as 5.99% APR
  • Term lengths from 2 to 5 years
  • No collateral is required the loans are unsecured
  • Funds sent directly to your credit card companies

According to Proper Funding, consolidating your cards into one of their lower-interest loans can save you thousands in interest charges. By combining multiple card payments into one monthly loan payment, they claim you can get out of debt faster too.

The application process is fast and entirely online. You will need to provide information on your income, debts, and credit profile. Proper Funding states there are no fees to apply.

If approved, you’ll get a loan offer within minutes specifying your rate, term, and payment amount. After accepting the offer, funds can be sent to your creditors within a few days.

Before applying, be sure to carefully compare interest savings against any fees charged. Personal loans aren’t right for everyone.

What Types of Debt Can Be Consolidated with Proper Funding?

The Proper Funding Loans website states that their loans can be used to consolidate the following types of unsecured debts:

  • Credit card balances
  • Department store cards
  • Personal loans
  • Medical bills
  • Payday loans

Essentially any unsecured debts with high interest rates are eligible to be rolled into a Proper Funding consolidation loan.

The first step is to make a list of all your current debts along with interest rates and monthly payments. Compare this to the rate and single payment Proper Funding can offer to determine if consolidation makes financial sense.

Focus on including the credit card and retail accounts charging you the highest interest rates first and foremost. The main goal is to lower your overall interest costs.

What Are the Requirements to Qualify for a Proper Funding Loan?

To be approved for a debt consolidation loan from Proper Funding, you’ll need:

  • A minimum credit score of 580
  • Employment or other steady income
  • Monthly income of at least $2,000
  • US citizenship or permanent residency
  • Be at least 18 years old
  • An open checking account

Proper Funding states that they can work with all credit profiles, including bad credit. However, you’ll have the best approval odds and lowest rates if you have good to excellent credit (690+ credit score).

Having a steady income that meets the minimum required along with limited existing debt obligations also improves your chances of qualifying.

Overall, Proper Funding loans are accessible to a wider range of borrowers than many traditional bank loans. But approval is not guaranteed.

Steps to Applying for a Proper Funding Loan

Applying for a debt consolidation loan from Proper Funding is a quick and easy online process:

#1. Visit their website. You can apply directly at

#2. Check rates. Use the online tool to see estimated rates offered based on your credit score and state of residence.

#3. Begin application. Provide basic personal and employment information.

#4. List debts. Enter details on all debts you want to consolidate.

#5. E-sign forms. Review and electronically sign application forms.

#6. Get matched with offers. If approved, you’ll immediately see loan offers with rates, terms, and payments.

#7. Accept offer. Choose your preferred loan offer.

#8. Verify identity. Provide proof of ID and income sources.

#9. Loan processed. It may take 1-3 business days for the lender to process the loan.

#10. Funds disbursed. The lender pays off your debts directly. Any leftover amount is sent to you.

And that’s it! The lender handles paying off your consolidated debts so you have just one monthly bill.

What Are the Pros and Cons of Using Proper Funding Loans?

Proper Funding Loans offer some advantages, but also have drawbacks:

Potential Pros

  • Lower interest rate than high-interest cards
  • Fixed-rate provides predictability
  • Single monthly payment
  • May improve credit utilization

Potential Cons

  • Origination and other fees
  • Credit check required
  • Loan rejection possible
  • Interest still accrues
  • Missed payment penalties

Run the numbers carefully and compare them to alternatives before deciding if consolidation is best for your situation.

Is Proper Funding Legitimate and Trustworthy?

Proper Funding Loans appears to be a legitimate lender, registered and operating legally out of Michigan. They are an actual company, not a scam.

Some signs Proper Funding Loans are reputable:

  • A registered business entity with valid licensing
  • Real business address and customer service channels
  • Encrypted website with security measures
  • Positive reviews from many borrowers
  • No major complaints or lawsuits located

However, as with any lender, you should proceed with a healthy degree of caution. Be sure to vet them thoroughly, read all loan terms closely, borrow conservatively, and pay on time.


Proper Funding Loans offer a legitimate way to consolidate and repay credit card debt more affordably for some borrowers.

Just carefully weigh the pros, cons, costs, and alternatives first. Their loans provide an accessible option but aren’t necessarily the best for every financial situation



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