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The Loan Exchange loans

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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 $7,500 and $100,000 for any personal expense, including paying for college. APRs start of 14.9% (Starting at) and you can take as long as 15 year(s) 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% (Starting at). Your business typically has between 2 year(s) and 10 year(s) 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

Rates last updated September 22nd, 2018
Name Product Min. Credit Score Max. Loan Amount APR Product Description
The Loan Exchange business loans
19.3% (Starting at) (fixed)
Get connected to working capital with minimal eligibility requirements.
The Loan Exchange personal loans
14.9% (Starting at) (fixed)
Fast funds starting at $7,500 for any personal expense and credit type.

Compare up to 4 providers

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

Rates last updated September 22nd, 2018

Reveal your potential loan offers and rates

Answer two quick questions to filter the loan offers and get the best one for you.

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Finally, select where you live.

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Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Min. Credit Score Max. Loan Amount APR
Credible Personal Loans
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
Good to excellent credit
4.99%–36% (fixed)
Monevo Personal Loans
Quickly compare multiple online lenders with competitive rates depending on your credit score.
3.09%–35.99% (fixed)
Even Financial Personal Loans
Get connected to competitive loan offers instantly from top online consumer lenders.
4.99%–35.99% (fixed)
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
6.16%–35.89% (fixed)
SoFi Personal Loan Fixed Rate (with Autopay)
No fees. Multiple member perks such as community events and career coaching.
6.990% – 14.865% (fixed)
Payoff Personal Loans
Pay down your debt with a fixed APR and predictable monthly payments.
5.99%–24.99% (fixed)
NetCredit Personal Loan
Check eligibility in minutes and get a personalized quote without affecting your credit score.
34%–155% (Varies by state) (fixed)
Best Egg Personal Loans
A prime lender with multiple repayment methods.
640 FICO®
5.99%–29.99% (fixed)
FreedomPlus Personal Loans
Consolidate debt and more with these low-interest loans. Cosigners welcome.
4.99%–29.99% (fixed)
OneMain Financial Personal and Auto Loans
An established online and in-store lender with quick turnaround times. Poor credit is OK.
16.05%–35.99%* (fixed)

Compare up to 4 providers

Rates last updated September 22nd, 2018
Unfortunately, none of the business loan providers currently offer loans for these criteria.
Name Product Product Description Min Loan Amount Max. Loan Amount Requirements
LoanBuilder, A PayPal Service Business Loans
Customizable loans with no origination fee for business owners in a hurry.
Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
Lendio Business Loan Marketplace
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.
OnDeck Small Business Loans
A leading online business lender offering flexible financing at competitive fixed rates.
Must have been in business for at least one year with annual revenue of $100K+. Must have a personal credit score of 500+.
Lending Express Business Loan Marketplace
At least 3 months in business and $10,000+ in monthly revenue. Your business might also qualify if it's been in business at least 6 months with $3,000+ in monthly revenue.
Fora Financial Business Loans
No minimum credit score requirement and early repayment discounts for qualifying borrowers.
Business age 6+ months. Monthly revenue $12,000+. No open bankruptcies.
LendingClub Business Loans
With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
2+ years in business; $50,000+ in yearly sales; No bankruptcies or tax liens; At least 20% ownership of your business; Fair or better personal credit
LendingTree Business Loans
Multiple business financing options in one place including: small business loans, lines of credit, SBA loans, equipment financing and more.
Varies by lender and type of financing
Varies by lender and type of financing
Varies by lender, but you many require good personal credit, a minimum business age and minimum annual revenue.
National Business Capital Business Loans
Get a large business loan to cover your financing needs, no matter what the purpose is. Startups welcome with 680+ credit score.
Your company must have been in business for at least 6 months and have an annual revenue of at least $180,000.
Kabbage Small Business Line of Credit
A simple, convenient online application could securely get the funds you need to grow your business.
Must have been in business for at least 1 year. Revenue minimum is $50,000 annually or $4,200 per month over the last 3 months.

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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