It is obvious that a lot of reviews here for SoFi are paid reviews because they all talk about the quick speed. I applied for a personal loan, which even after two weeks was still in final review.
There were many things wrong with this whole process.
1. Despite having a fraud alert I never received a verification call from SoFi. In fact, their customer support team didn't even know what was a fraud alert. They kept insisting that Experian needs to verify my information and not them.
2. For ten days after the three-day period was over, I kept hearing the same status that the application was in final review. Even up to this point I had received no call for the verification.
3. One of their managers, Josh Johnson, gave me personal assurance that the loan will be processed by its 11th day and he will follow up personally. On the 12th, 13th and 14th days of my calls, he was nowhere to be found. According to the agents, he had left for home at 12 pm Central time.
4. The entire application was ridiculously slow, and I chose to withdraw it which was with drama again. Upon requesting to talk to a manager before withdrawing the application, I was rather transferred after the rep withdrew the application. The manager said they could not remove the credit inquiry though they had never honored the fraud application or their terms. Plus he said that for the fault of their own reps I had to start the application again. Well, no thank you.
In this same time, we had a mortgage application put in a day after the application for the loan. It was close to a million dollars versus the 35k requested here, and it was approved before this one was. Just to share a reference of how SoFi is NOT what they claim to be.
Oh and quite amazingly was when the manager who called me with a disclaimer that the call will be recorded for monitoring was fazed and said he didn't give consent to the fact that the call was being recorded on my phone. So stay away from these guys. I am sure I would have faced more problems with the loan itself. They seem like frauds and might very well be so. Go with folks more reliable than these guys. Don't waste your time with them.
Bottom Line: No, I would not recommend this to a friend