• HOME
    • Business Credit
  • About Marco Carbajo
  • Contact Us
  • Archives
  • Resources
    • Business Calculators
      • Business Credit Card Payoff Calculator
      • Business Loan Calculator
      • Business Lease Calculator
  • Business Credit Cards
  • Afffiliate Program
  • Member Login

Business Credit

Building Business Credit for Small Business

  • Business Credit
    • Consumer Credit
  • Funding
  • Business Credit Programs
  • Business Credit Building System
  • Business Funding Engine
  • Real Estate Funding
You are here: Home / Consumer Credit / Not Sure Where to Apply for a Personal Loan? These Online Lenders make it Easy

Not Sure Where to Apply for a Personal Loan? These Online Lenders make it Easy

December 15, 2011 By Marco Carbajo

Where to Apply for a Personal Loan

Personal loans are used for many purposes such as consolidating debt, making home improvements, paying tuition, starting a home business, etc. where to apply for a personal loan

Even if you have less than perfect credit you can get a loan but the difference will be in the interest rate you will pay.

So where should you apply for a personal loan?

There is always a traditional lender such as a bank or credit union. However, if you prefer to shop around without leaving the comfort of your own home then an online lender would be best.

An online lender is a remarkable time saver because it allows you to apply online quickly and easily with no hassle or confusing paperwork to fill out. Best of all, before applying you have the freedom to shop around, compare rates, fees, payback periods, and even have lenders compete for your business.

Here’s what you’ll need to apply:

  • Personal information
  • Employment information
  • Social Security number
  • Monthly housing costs
  • Co-applicant information

Before you apply it is important to calculate the loan amount, APR and number of months it will take to repay the loan you are seeking.

For example, a $10,000 loan with a 7.99 APR and 60 months to repay will have a payment of $202.72. The total amount you will pay including interest will be $12,162.97.

Calculating these figures allows you to answer three important questions:

  1. Can you afford to make the payments?
  2. How long will it take to pay off the loan?
  3. What amount will be paid in interest?

The following lenders provide personal loans online:

  1. One Main Financial – Offers unsecured and secured personal loans up to $10k with terms ranging from 12-60 months.
  2. E-Loan – Offers unsecured personal loans up to $30k with terms ranging from 12- 60 months.
  3. Lending Tree – Lenders compete for your business with up to 5 online offers. Personal loans up to $30k with terms ranging from 12- 60 months.
  4. Wells Fargo – This lender allows you to apply online for an unsecured personal loan or line of credit but you must have an existing account with them for one year or more.
  5. Prosper.com – Social lending marketplace offering unsecured personal loans from $2k to $25k with fixed rates starting at 6.59% APR and payment terms ranging from 12 -60 months.
  6. LendingClub.com – Social lending marketplace offering unsecured personal loans from $1k to $35k with fixed rates starting at 6.78% APR and payment terms ranging from 12 -60 months. *Loans from $1k to $15,975 are only available with a 36-month term.
  7. America One – Offers unsecured personal loans to $50K with rates starting at 6.78% APR and payment terms ranging from 6-84 months.

Obtaining a personal loan online does not have to be a hit-or-miss approach when you take the time to follow these simple steps.

First, know where your credit stands by going to MyFICO and ordering your credit scores. Secondly, calculate the loan amount, terms, and rates you are willing to accept. Finally, shop around and identify a lender that meets your criteria.

With the right preparation, a personal loan is a great option because it is fast, easy, and readily available.

Looking to build your personal and business credit? Become a member of my Business Credit Insiders Circle and gain access to a proven step-by-step business credit building system. A system that provides you access to personal credit, vendor lines of credit, fleet cards, business credit cards with and without a PG, funding sources and lenders that report to all the major business credit bureaus. Submit your name and email below for details and receive a free audio seminar ($597 value) =>

About the author

Marco CarbajoMarco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. He is a business credit blogger for AllBusiness, a subsidiary of Dun and Bradstreet and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in American Express Small Business, Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.

Related Posts

  • How the Fast Bridge Loan Strategy Works for PaydownsHow the Fast Bridge Loan Strategy Works for Paydowns
  • 7 Ways to Maximize Your Business Credit Score 7 Ways to Maximize Your Business Credit Score
  • Is You’re Credit Card Company Using ‘Balance Chasing’Is You’re Credit Card Company Using ‘Balance Chasing’
  • Free FICO® Score Open Access Program Gains MomentumFree FICO® Score Open Access Program Gains Momentum

Share this:

  • Twitter
  • Google
  • Facebook
  • LinkedIn
  • Pinterest

Filed Under: Consumer Credit Tagged With: apply for a personal loan, online lender, where to apply for a personal loan

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Subscribe to our Newsletter

Join Over 52,000 Business Owners

business credit builder system

business funding engine

>
Build Your Dreams With Net 30 Terms
What's Your Credit Score?

Bank Line of Credit

Get Peace of Mind

CATEGORIES

  • Business Credit
  • Business Credit Videos
  • Consumer Credit
  • Funding
  • Help for Small Business

RECENT POSTS

  • Best Secured Business Credit Cards – Build Business Credit Easily
  • How to Get a Virtual Business Address and Phone Number

CONNECT WITH US

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Copyright © 2023 Business Credit Blogger.com | All Rights Reserved | TOC | Privacy Policy | Disclosure | Sitemap | Contact Us