The Loan Exchange

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The Loan Exchange loans

Get connected to financing for yourself, your business and more with this loan connection service.

The Loan Exchange is there for borrowers who’ve had trouble getting financing in the past, whether looking for funds for yourself or trying to grow your business. Its lenders offer loans with minimal requirements and work to help you find a loan with monthly repayments you can afford. Some of its partners also offer debt settlement services for borrowers who are struggling to pay off credit card and other debts. Loan Exchange offers debt services, along with personal, business and home loans to help you get the funds you need.

What types of loans can I get through The Loan Exchange?

The Loan Exchange connects borrowers with lenders that offer:

  • Personal loans. Through the Loan Exchange, you can borrow between $2,600 and $100,000 for any personal expense, including paying for college. APRs start of 13.3% and you can take as long as 15 years to pay off your loan.

The Loan Exchange personal loans review

Business loans. You have three unsecured business financing options through The Loan Exchange: term loans, working capital loans and SBA loans. Amounts range from $6,000 to $250,000 with rates starting of 19.3%. Your business typically has between 2 years and 10 years to pay it off.

The Loan Exchange business loans review

  • Home loans. The Loan Exchange also connects homebuyers with multiple mortgage providers — with both down payment and cash options. Once you’re approved, you could get the funds to pay for your new home as soon as the next business day.
  • Debt services. On top of offering loans, The Loan Exchange also offers debt settlement programs for borrowers who are seriously struggling to pay off their creditors. Here, a company negotiates with your lenders and credit card companies to lower the amount you owe in exchange for a one-time payoff amount.

Eligible states

Currently, The Loan Exchange only lends to a handful of states. To qualify for a personal loan, you must live in one of the of the following states:

  • California
  • Deleware
  • Idaho
  • Arizona
  • Missouri
  • Utah
  • Wisconsin
  • New Mexico
  • Kentucky
  • South Carolina

To be eligible for a business loan, your business must be based in one of the following states:

  • Alabama
  • Arizona
  • California
  • Delaware
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kentucky
  • Louisiana
  • Maine
  • Mississippi
  • Missouri
  • Nebraska
  • New Hampshire
  • New Mexico
  • Ohio
  • Oregon
  • South Carolina
  • Utah
  • Wisconsin
  • Wyoming

Compare a selection of The Loan Exchange loans

NameMin Credit ScoreMax Loan AmountAPR







Why should I consider taking out a loan with The Loan Exchange?

  • Fast funding. It claims it can get you a personal loan within one day and a business loan as quick as the same day you apply.
  • Can improve credit. The Loan Exchange works with lenders that report repayments and helps borrowers make sure they find funds with monthly repayments they can afford.
  • Minimal requirements. Generally, you only need to be at least 18 and have a valid bank account to qualify for a loan from one of The Loan Exchange’s partners.

Where does The Loan Exchange fall short?

  • Limited customer service hours. If you’re applying for a loan after work or on the weekend, you won’t be able to call in to get an answer to a quick question. We also had trouble getting through to its customer service team.
  • Can be expensive. If you have excellent credit and don’t typically have trouble qualifying for financing, The Loan Exchange might not be able to offer the most competitive offers out there.
  • Limited to a network. While applying for a loan through a connection service can save you some valuable time, there’s a chance you won’t be able to find the best deal for you from its pool of partner lenders.
  • No car loans. If you were looking for a lender that offered specific financing for buying a vehicle, The Loan Exchange might not be able to help.
  • Limited state availability. Its personal loans are only available to residents of 10 states. Its business loans only reach 23.

Compare other loan providers

Name Product Filter Values APR Min. Credit Score Loan Amount
Credible personal loans
2.49% to 35.99%
Fair to excellent credit
$600 to $100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Best Egg personal loans
5.99% to 35.99%
$2,000 to $50,000
A prime online lending platform with multiple repayment methods.
PenFed Credit Union personal loans
4.99% to 17.99%
$600 to $25,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
SoFi personal loans
5.74 to 20.28%
$5,000 to $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
Monevo personal loans
1.99% to 35.99%
$500 to $100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
Tally+ Express Line of Credit
7.9% to 25.9%
$2,000 to $30,000

Only available for Line of Credit and Debt consolidation

Upgrade personal loans
5.94% to 35.97%
$500 to $50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
Avant personal loans
9.95% to 35.99%
$2,000 to $35,000
Conveniently check your loan options without affecting your credit score.

Compare up to 4 providers

Name Product Filter Values Loan amount APR Requirements

Biz2Credit business loans
Finder Rating: 4.7 / 5: ★★★★★

Biz2Credit business loans
$25,000 – $6,000,000
Starting at 5.99%
6+ months in business; $100,000+ monthly revenue; 500+ credit score
Get only the capital you need through secure, prescreened lenders with this highly rated company offering SBA, expansion, working capital and other loans.

Lendio business loans
Finder Rating: 4.75 / 5: ★★★★★

Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.

ROK Financial business loans
Finder Rating: 4.7 / 5: ★★★★★

ROK Financial business loans
$10,000 – $5,000,000
Starting at 6%
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.

OnDeck short-term loans
Finder Rating: 4.6 / 5: ★★★★★

OnDeck short-term loans
$5,000 – $250,000
As low as 35%
600+ personal credit score, 1 year in business, $100,000+ annual revenue, active business checking account
A leading online business lender offering flexible financing at competitive fixed rates.

Fundbox lines of credit
Finder Rating: 4.2 / 5: ★★★★★

Fundbox lines of credit
$1,000 – $150,000
Not stated
6 + months in business, $100,000+ in annual revenue, 600+ credit score
Get flat rate, short-term financing based on the financial health of your business, not your credit score.

Compare up to 4 providers

How much will it cost me to borrow through The Loan Exchange?

It depends on what type of loan you get and which partner you get connected with. Its personal loans come with APRs starting at 14.9% and don’t come with any prepayment penalties. Its business loans start a bit higher, at 19.3%. Other costs can vary from lender to lender.

Is it safe to use The Loan Exchange?

Generally, yes. It’s licensed by the California Department of Business Oversight, though it doesn’t have a page with the Better Business Bureau. It protects any information you enter online with SSL encryption, making it more difficult for anyone to access your data.

The Loan Exchange is a connection service, which in part means that it has to share your information with third parties to find you offers. One common complaint from people who’ve used any connection service is that they often receive a lot of emails and phone calls from lenders, even after they’ve gotten a loan. If you don’t want to be on the marketing radar of multiple loan providers, you might want to look for a direct lender instead.

How to apply for a loan through The Loan Exchange

You can take the first steps toward getting connected with one of The Loan Exchange’s partners online. Here’s how you can get started:

  1. Go to The Loan Exchange’s website.
  2. Click Let’s Get Started!
  3. Enter your name and hit Next or let The Loan Exchange access your information through your Facebook account by hitting Connect with Facebook.
  4. Enter your email and phone number and select your preferred method of communicating with The Loan Exchange. Read the Contact Disclosure before checking I Agree to the Contact Disclosure. Then click Next.
  5. Enter your address and click Next, continuing to answer questions about your living arrangements.
  6. Select the amount you’d like to borrow and what you need funds for before hitting Next.
  7. Answer a few miscellaneous questions and click Next again.
  8. Finally, enter your Social Security number and date of birth before reading and agreeing to the Credit Authorization disclosure. Then click Next.
  9. Review your offers. If you find one that fits your needs, follow the directions to continue the application.

Funding time can vary, depending on the loan type and lender. Personal and business loans can take as little as one day from start to finish.

Eligibility requirements

You only need to meet the following requirements to qualify for a loan from one of The Loan Exchange’s partners:

  • Be the legal age to take out a loan. That’s 18 in most states.
  • Be a US citizen of permanent resident. You need a Social Security number to complete the application.
  • Have a bank account. The Loan Exchange funds its loans by wiring the money to your bank account.

Credit score, income and other factors come into play when finding you a loan. Generally, the stronger your personal finances, the more likely you’ll get connected with competitive offers. However, you might be able to find better deals outside of The Loan Exchange’s network if you have excellent credit.

More about The Loan Exchange

The Loan Exchange is based in Orange County, California. In fact, that’s the only location it has: The same office that handles your customer service calls also handles other aspects of borrowers’ applications. It doesn’t have much of an online presence, so it’s hard to get a good idea of customers’ experiences using its services.

If you have any questions about how The Loan Exchange works, you can reach out to customer service by calling 844-956-2639 or sending an email to

Bottom line

The Loan Exchange could be useful for any borrower who’s had trouble qualifying for a loan in the past. It focuses on finding you affordable repayments and can help you rebuild your credit. However, this connection service might not be for you if you have excellent credit, since you’ll likely be able to find more competitive rates outside of its network.

Interested in learning more about personal loans? Check out our guide to find more lenders and learn about other financing options out there.

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