The platform is not a direct lender. It is just a middle-man that helps clients find a trusted lender that can provide them with cash. If a client does not meet the basic requirements, he may not receive an offer.
Features
As we mentioned above, this platform cooperates with lenders that can provide loans up to $35,000. The ount is between 5.99% and %, depending on the amount the client wants to borrow, his credit score, monthly income, and the repayment period.
The repayment time is also flexible, and it varies between three months up to six years. Some lenders may provide additional information and additional loan costs depending on the borrowed amount. The additional fees include administrative charges, early pay-off, and late repayment. It is best to avoid these offers if you want to improve your finances.
This lending platform provides a free and simple application form that is easy to fill in. It includes personal information and details about the applicant. All information should be accurate, otherwise the application will be rejected by the lenders network.
How to request a loan on PersonalLoans?
As mentioned, the form is available online on PersonalLoans, and it is free to fill in. The application requires accurate information about the clients identity and bank account details. On the first page, the client should enter the amount he wants to borrow. The amount should not be below $1,000.
The form requires personal information like name, surname, date of birth, city, state, living address, amount of monthly income, employers information, personal bank account details, phone number, and email address. Once you finish entering the required information, you should submit the request.
The procedure may take a few hours before receiving an offer. The lender makes the offer depending on the applicants information and financial situation. The lender may also charge additional costs depending on the loan amount and the credit score.
You may not accept the order if it provides high additional costs. Higher costs may complicate the repayment rates and worsen your finances. The loan should improve your financial situation, not worsen it even more. There is always an option to decline the lenders offer if it does not suit your needs.
Pros
- Available loan amount up to $35,000
- Personal Loans services are free of charge
- Trusted lending platform by the customers
- High rating
- Best for clients with bad credit
- Funds transfer in less than 24 hours
- Personal information protection guarantee
Cons
- Minimum loan required
- High amount loans may have higher APR
Customer experience
Personal Loans is one of the top five lending platforms that approve loans for clients with bad credit. We can tell that for sure, depending on the customers feedback. Many customers noted that they got quick approval even with a bad credit score. The lenders are flexible about the repayment period and the loan fees. Most lenders do not take credit score as a criterion for loan approval, which is the main thing that satisfies the customers with the platforms service.
Maria left a comment that besides the bad credit, she got approval with an acceptable APR. She got her funds the very next day, and she is happy that the lender did not charge any additional and hidden fees. She is satisfied with the customers service, saying they were kind enough to answer all the questions that concerned her about the entire borrowing NM installment loans process.
Credit Loan is one of the first finance websites founded in 1998. Their focus is always on providing the customers with online financial resources. They wanted to educate customers about personal financial help they can find online. Since 1998, this online cash-providing website has educated more than 33 million clients, and 750k customers were provided with an online personal loan.