Personal Loans US

When applying for an online personal loan, you don’t need a  co-signer or collateral. All credit types welcome. This, of course, depends on the amount you want to borrow as well as your current income.

Bad credit doesn’t equal no personal loan

A low credit score is a decisive factor with banks or credit unions. Online personal loans are a bit different. An online personal loan lender will take every precaution to make sure he/she will get their money back with a profit but they are more lenient and flexible than brick-and-mortar lenders, because they reach customers, which they would otherwise never have. The Internet is a powerful tool to get a business in all parts of the country as well as abroad. For this reason lenders are not so picky and choosy about their customers. They must evaluate your potential to repay the loan, which is the main prerequisite of getting a loan.

Credit check

Many online lenders will not run a traditional credit check. Lenders usually set minimum FICO scores in the mid-600 range, which disqualifies many borrowers. Other lenders may make their decision based on your income and employment. In many cases alternative credit checking is used, such as Teletrack. Whether  or not a lender will use a credit check depends on the amount being requested. Borrowers applying for a personal loan in the amount of $5,000 may be scrutinized  and verified in more details than borrowers trying to obtain a $1,000 loan. As a general rule, the higher the amount, the higher the likelihood of a credit check.

Online approval in less than 1 hour

Since you’ve applied online, you will receive an online reply. Not every application is successful, but you will know immediately about the status of your application.

Short-term, long-term unsecured personal loans

This site offers you access to lenders offering short-terms or long-term unsecured personal loans.

Short-term, long-term secured personal loans

This site offers you access to lenders offering short-terms or long-term secured personal loans.

Personal loans up to $35,000

The amount you can borrow online varies from $1,000 to $100,000. In the application you must select your current credit rating (poor – under 600, fair – between  600 and 640, good – between 640 and 720, excellent – 720+).

Report to credit agencies

Due to established relationships with credit reporting agencies that online lenders have,  customers may improve their credit scores when they responsibly pay back their loan. This will have a positive  impact at the credit bureaus. Credit is not built overnight, and improving a poor credit score can take months or years.