5 Secrets about Online Personal Loans the Big Banks Don’t Want You to Know

The big banks have ruled the lending business for a long time, but there are other lenders out there, including online lenders, who offer alternatives. What the big banks don’t want you to know is that these alternatives are often a better choice for a lot of people. When it’s time for you to borrow money, you need to know the facts about online personal loans that they don’t want you to know.

1. Online personal loans can be big or small, and also medium

Banks are in the business of giving out big loans. They don’t have time to waste on smaller loans. But often, all you need is a few hundred dollars to get through the week. Don’t think you have to turn to a bank and take out more money than you can really afford to borrow just to pay the month’s phone and cable bills. Instead, turn to online personal loans, which are available in small, medium, and even large amounts, up to $25,000.

2. With online personal loans, you don’t have to leave home

Online personal loans can give you something that no other lender can: the ability to apply, get approved, and get the cash from a loan. You can do it all online or through an app on your smartphone. There is no reason to set aside hours of your day just to go to the bank to apply and then wait days to get approved. You can do it all from home, at any time.

3. Online personal loans are affordable

Critics may tell you that these kinds of loans have high interest rates and that they are taking advantage of people who are desperate. The truth, though, is that online personal loans are affordable for most people. Yes, the interest rates are usually higher, but that’s because they are short-term loans. Compare what you would pay in total interest for months of debt on a credit card to what you pay with one of these short-term loans, and you’ll see just how affordable they are.

4. Bad credit doesn’t have to prevent you from getting approved for online personal loans

Banks may turn you down for a loan as soon as they get a look at a credit score that is less than perfect. That’s typical. What isn’t typical is a lender who may not even check that score. With online personal loans, credit score is not a primary determinant for getting approved. Our lenders use a unique and proprietary calculation to approve lenders, and it relies more on income and job history than credit score. So, yes, you can still get approved, even with a low credit score.

5. Getting online personal loans does not mean sacrificing security

Going online for loans is convenient. That goes without saying. But what many people are rightly concerned about is online security and identity theft. With our online personal loans, you don’t have to sacrifice the safety of your information for a convenient loan. We use encryption and other measures to ensure that our borrowers’ information is kept safe. Now that you know all our secrets, you can judge whether you would rather get online personal loans or turn to the big banks.

5 Secrets about Online Personal Loans the Big Banks Don’t Want You to Know By Heather Wilson - 4/210/17