How Personal Loans Are Different

The personal loans our lenders offer are different from traditional loans in several ways. We'll explain these important differences here.

• Simplified application process. With our online personal loans, you don't have to bother with filling out piles of paperwork at a bank or credit union. Most of our lenders offer online applications that can be completed in just a few minutes (varies by lender). This is much less hassle than filling out endless application materials at a brick-and-mortar lending institution.
• Relaxed qualification standards. Banks and credit unions tend to have very strict qualification standards. Unless you have a flawless financial record, you probably don't have a good chance of qualifying for a loan. With our personal loans, on the other hand, as long as you meet your lender's basic qualification requirements, you can qualify regardless of your financial history. This makes our loans much more accessible than those of traditional banks and credit unions.
• Faster service. Traditional personal loans can take forever to get. You have to fill out lengthy applications and then wait around for a decision. In the meantime, your emergency expenses grow more urgent by the hour. By contrast, our personal loans can be in your bank account as soon as the next business day if you apply during regular business hours (varies by lender).
• Convenience. It's not very convenient to have to take a few hours out of your day to visit a bank and apply for a loan. This is another area where personal loans are different. Our lenders allow you to apply for your loan online, without ever having to leave the comfort of your home (varies by lender). You can apply anytime day or night.
• Flexibility. Banks and other traditional creditors tend to be very impatient when it comes to due dates. Either you repay your loan on time, or you will face fees, damaged credit, and collections agencies. However, with online personal loans, most lenders allow some flexibility in their repayment conditions. This will vary by lender, so ask your lender for more details.