I recently did a Personal Loan Refinance, when will the funds from the new loan be used/transferred to payoff the of the first loan? January 07, 2021 00:45 Updated Once your Personal Loan Refinance gets approved and funds, the first loan should be paid off the next business day. Related articles How do I withdraw cash from my SoFi Invest account? How do I request a re-amortization of my personal loan? I would like to refinance my SoFi Personal Loan. Am I eligible? Where do I find the payoff amount for my Personal Loan? How do I get a payoff letter for my SoFi Personal Loan?