Personal Loans

ThriveCash Personal Loans Review 2024

ThriveCash makes it easy to apply for a loan once you download the app on your mobile device. The app is intuitive and will guide you through every stage.
A group of interns receive instruction from a company employee at work
Written by:
Anna Baluch
Edited by:
Kristin Marino verified
Editor's Rating

ThriveCash aims to provide students and new grads with quick access to cash so they can cover a variety of expenses and pay the loan back once they start working.

Below we’ll dive deeper into what ThriveCash loans are, how they work, and who they are for.

Pros and Cons of ThriveCash

Just like all lenders, ThriveCash comes with benefits and drawbacks you should consider.


  • Your credit score doesn’t matter. Provide an offer letter stating your work or internship start date and your salary
  • Next-day funding: Once you withdraw funds, the money will be in your bank account within one business day
  • The intuitive mobile app makes it convenient to apply for and manage your loan


  • Loans max out at $25,000. You might need to borrow money elsewhere if you have larger expenses
  • You can’t use ThriveCash if you’ve already started your internship or job. It’s designed to hold you over until you start
  • ThriveCash isn’t available in Alaska, Delaware, Hawaii, Idaho, Kansas, Kentucky, Maine, Mississippi, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, South Carolina, South Dakota, Texas, Vermont, West Virginia, or Wyoming

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ThriveCash Top Features

ThriveCash loans are personal loans specifically designed for undergraduate, graduate, and international students who need some money to hold them over until they begin their job or internship.

Its features include the following:

What Is Thrivecash?

ThriveCash is a financing solution for undergraduate, graduate, and international students who have locked in an internship or full-time job and need some cash before they start.

Students may use their offer letter to get up to $25,000, no matter their credit, immigration status, or financial situation.

ThriveCash allows students to repay their loans at once or over several months as soon as they start working and earning money.

Founders Deepak Rao and Siddharth Batra moved to the U.S. to attend college and found it difficult to lock in the financing they needed without credit or financial support from their families.

ThriveCash investors include well-known companies such as Facebook, Instagram, Uber, Pinterest, Twitter, and Airbnb.

The lender is on a mission to “invest in human potential.”

Who Is Thrivecash For?

ThriveCash personal loans are available to college students, including undergraduates, graduates, and international students who have landed an internship or full-time job after graduation.

If you meet one of these criteria and have an offer letter to prove it, you can get approved for up to $25,000 in funding.

You might want to explore ThriveCash if you:

  • Need cash but are having trouble qualifying for credit cards and loans
  • Hope to become more independent and rely less on your parents and their financial resources
  • Have no credit or bad credit and don’t want to get rejected for a traditional loan or be forced to settle for a payday loan
  • Don’t have a Social Security number but need to borrow some money until you begin working

Keep in mind that ThriveCash is not an option if you’ve already started your internship or job. Since repayments begin once you’re working, you can only receive cash beforehand.

Compare ThriveCash to other lenders and find the best interest rate you qualify for.

Compare Thrivecash to Other Lenders

ThriveCash is one lender you might choose as a student in search of fast cash.

But there are other lenders you might consider as well.

To decide whether ThriveCash is right for you, it’s a good idea to explore alternative options.

Here are three other lenders to look into.


SoFi is an online lender that offers loans between $5,000 and $100,000 with repayment terms ranging from two to seven years.

While you can borrow a larger amount of money than you’d be able to with ThriveCash, you’ll need excellent credit.

If you do qualify for a SoFi loan, you may also enjoy perks like career coaching, invitations to dinners and happy hours, and unemployment protection.


Upgrade is an online platform with loans ranging from $1,000 to $35,000.

Unlike ThriveCash, it lends to all types of borrowers, including students who have already begun working.

You don’t need the best credit to get approved and won’t have to worry about a prepayment penalty if you pay off your loan early.

There’s also a mobile app that’s similar to the ThriveCash app and streamlines the lending process.

OneMain Financial

OneMain Financial lends to borrowers with limited or poor credit.

It differs from ThriveCash in that you don’t need an offer letter to get approved and may collect the funds after you start your job.

OneMain Financial loans are between $1,500 and $20,000, and you can apply with a co-signer or collateral to land a better rate or more favorable terms.

How Does Thrivecash Work?

ThriveCash is fairly straightforward to use.

  1. Download the app on your iOS or Android device.
  2. Submit your internship or full-time job offer letter to find out how much cash you’re eligible for. ThriveCash promises to keep your offer letter confidential and never share it with any third parties.
  3. ThriveCash won’t contact your employer unless they’re unable to confirm your employment based on your offer letter and you give them permission to do so. In most cases, the offer letter is enough.
  4. ThriveCash will also pull a soft credit inquiry that won’t impact your credit score at all. If you don’t have a credit history or you have bad credit, don’t worry. There’s still a good chance you’ll be able to take out a loan.

If you’ve locked in an internship, you can borrow up to 25% of your total salary.

In the event you secure a full-time job, ThriveCash may lend you 25% of your first three months’ salary, up to $25,000. Signing bonuses will be included in these calculations.

It’s up to you how much money you’d actually like to borrow. You can withdraw funds whenever you need to and wait for them to arrive in your bank account in one business day.

Fortunately, you won’t owe ThriveCash anything until you start your job or internship. You’ll be responsible for repayments within one month of the date you start working. This way, you’ll receive at least one paycheck before your first repayment is due.

While you can pay off your loan over a period of up to 12 months, you’ll save money if you repay it all at once.

What Happens if Your Job or Internship Doesn’t Pan Out?

If your job offer is rescinded or you lose your job, ThriveCash will be flexible. If you find another job, the lender will change your repayment plan and defer your payments until you start it.

If you don’t have an alternative job lined up, you can work with the support team to design a hardship program that makes your payments more manageable.

How to Get Started

If you’ve landed an internship or job after you graduate, you may qualify for a ThriveCash loan. This is true even if you don’t have credit or a Social Security number. ThriveCash is an option as long as you have an offer letter and need some cash to help you out until you start the next chapter in your life.

ThriveCash will not allow you to apply on the website, in person, or via phone. You can fill out a ThriveCash application once you download the app. It will ask you for basic personal information, like your name, email address, and the name of your school. Then, you’ll need to email the offer letter you received for your upcoming internship or job.

The letter should include your employer’s name, your position and salary, and your anticipated start date. ThriveCash will use this information to inform you of an approval amount. You may borrow any amount you’d like and receive the funds in your bank account within one business day.

Rating the Features

Here’s an overview of what you can expect if you move forward with a ThriveCash loan.

User Experience

ThriveCash makes it easy to apply for a loan once you download the app on your mobile device. The app is intuitive and will guide you through every stage of the process, so you shouldn’t have many issues. You can always reach out to support if you get stuck and need some assistance.

Fees and Rates

ThriveCash doesn’t charge a traditional interest rate. Instead, you’ll pay a flat monthly fee of $7 to $15 per $1,000 borrowed. The exact fees you’ll be charged will depend on where you live, your offer letter, and your repayment term.

Note that fees will begin to accrue once you borrow the money, not during the repayment period. If you borrow money on January 1st and don’t begin repayment until March 1st, for example, you’ll be on the hook for three months of fees.

ThriveCash doesn’t charge origination fees, late fees, or prepayment penalties.


ThriveCash clearly outlines all the details about its loans online. The language is short, sweet, and to the point so you shouldn’t have many questions once you read it. Even if you’re new to borrowing money, you’ll find the ThriveCash website to be transparent.


When it comes to flexibility, ThriveCash certainly excels. You can choose the number of payments you want to make after you start your internship or job.

Maybe you hope to repay your loan at once and save as much money on fees as possible. Or perhaps you want to take your time and break up your loan into more manageable payments. You can make changes to your repayment schedule at any time and pay off your loan early without any penalties.

Customer Support

The ThriveCash app is easy to use, regardless of whether you’re on a tablet or mobile phone.

The lender’s website also has a robust list of frequently asked questions you might find useful.

If you come across any questions, you may call or text ThriveCash for support. You can also reach out on Facebook Messenger.

Bottom Line

ThriveCash is an alternative to payday loan lenders that students often turn to when they’re in a financial pinch.

You can get fast cash as long as you show an internship or job offer.

But if you have worked hard to build your credit while in school, you might want to explore other financing options, especially if you can lock in low rates and favorable terms.

Frequently Asked Questions (FAQs)

Does ThriveCash impact my credit?

ThriveCash uses a soft credit inquiry when you apply for a loan. This means you won’t see any effect on your credit. If you fail to make your repayments, however, your credit score will likely take a hit.

Who is ThriveCash for?

Undergraduate, graduate, and international students with internship or job offers can use ThriveCash. However, its loans are not for those who have already begun their careers.

Is a ThriveCash loan expensive?

You’ll pay a flat monthly fee to use a ThriveCash loan. Unless you repay it all at once as soon as you start your internship or job, it can get pricey. To save as much money as possible, opt for an early payoff.

Do I need an offer letter to take out a ThriveCash loan?

Yes. While you don’t need credit or a Social Security number, an offer letter for an upcoming job or internship is mandatory.