PersonalLoans.com lets you apply for a personal loan regardless of your credit score.
PersonalLoans.com is a loan-matching service that gives you a convenient way to get a suitable personal loan through its nationwide network of lenders. This service provider lets residents of most American states apply for loans. Depending on the state you reside in, you may get to choose from different kinds of loans.
PersonalLoans.com is not a direct lender. While it connects you with reputable lenders, it does not charge any fees for the service it provides. Apart from helping borrowers get personal loans, this business participates in events and sponsorships that support local communities.
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Types of personal loans that are available
Laws and regulations that govern personal loans vary from state to state, which has a bearing on the loans that you can apply for through PersonalLoans.com. Depending on the state you live in, your options include:
- Peer-to-peer loans. These loans connect borrowers with investors directly. PersonalLoans.com pairs you with an individual or group looking to invest in a detailed note. You start by submitting a basic loan request, which investors then view and consider if it suits their needs. If an investor lends you money, you repay the loan in fixed monthly payments. You can borrow $4,000 to $35,000 through a peer-to-peer loan. These loans tend to attract loan origination fees. You would typically need a credit score of over 600 to qualify.
- Personal installment loans. Personal installment loan regulations vary by state. This affects how much you can borrow as well as how much interest you may end up paying. However, the loan amount, APR and loan term also depend on factors such as your creditworthiness and your repayment history. You can borrow from $1,000 to $20,000, depending on your state laws, and your eligibility. A credit score of 580 or higher is required to successfully apply. Learn more about online installment loans.
- Bank personal loan. This loan type is ideal if you want to get a personal loan through a local bank. You can provide any additional required information in person, over the phone or online. In any case, you may have to visit a branch to complete some formalities. Upon approval, you can receive funds at a branch or through an electronic transfer. You may qualify for a loan of up to $35,000, depending on multiple factors. You would need a credit score of 580 or more to qualify.
What benefits does PersonalLoans.com offer?
Here’s why you might consider applying for a loan through PersonalLoans.com:
- Simple process. You can apply for a personal loan through PersonalLoans.com from anywhere, provided you have access to an Internet-enabled device.
- Use money for a variety of purposes. PersonalLoans.com lets you apply for personal loans for different reasons. You can get a loan to meet medical expenses, carry out a home improvement project, repair an automobile, go on a holiday, consolidate debt or for any other legitimate purpose.
- Payments. You will make payments towards your loan once every two weeks or monthly, depending on your pay schedule or your lender’s terms. Funds are deducted automatically from your securely linked bank account, so you don’t have to worry about missing payments.
- Interest. The APR you end up paying depends on the state you reside in as well as the lender that PersonalLoans.com matches you with, and can vary from 5.99% p.a.
- Transparent loan costs. You may have to pay other fees and charges, which your lender discloses through your loan’s terms and conditions. These can include loan origination fees, late charges, NSF fees and loan renewal fees.
- Varied loan term. PersonalLoans.com loan terms vary from 0.50 year(s) to 6 year(s). The length mostly depends on the terms that your lender provides.
- Prepaying. You don’t have to pay any prepayment penalty if you repay your loan ahead of time. If you pay the loan before schedule you only pay interest for the period you take to repay the loan.
How can you apply for a loan on PersonalLoans.com?
Applying for a loan through PersonalLoans.com is easy. To get started now simply click on the “Go to Site” button. Applying requires that you meet these eligibility criteria:
- You are 18 years of age or older
- You are an American citizen or a permanent resident of the US
- You have a valid Social Security number
- You are employed full-time, self-employed or receive regular disability or Social Security benefits
Completing the application requires that you provide basic personal information:
- Your name, home address, email address and phone number
- Details about your employment and income
- Details of your operational checking account
- Details from your driver’s license, military ID, passport or state ID
Frequently asked questions
Does PersonalLoans.com serve non-US customers?
PersonalLoans.com only works with US lenders and residents at the moment, but they plan on expanding to work internationally in the future.
What do I do if I miss a payment?
Contact your lender immediately to try and schedule your payment at a later date.
How long does the loan process take?
Your loan request may be approved within minutes and your funds could be available in as soon as 1 business day, although the timeframe may vary.