Your Questions and Answers
What is a personal loan?
A personal loan is an unsecured loan that any U.S. citizen over 18 with a bank account and income source can apply for. Typical loan amounts range from $250 to $5,000 and are offered by banks, credit unions and online lenders.
What is a personal line of credit from a bank?
A personal line of credit represents funds available to an individual that are generally tied to a checking account. All or some of this amount can be used when needed, with funds becoming available as the balance is paid. Credit cards are an example of this type of credit.
What is a line of credit loan?
A line of credit loan is an amount of available credit based on a secured asset, such as a house. Home Equity Lines of Credit (HELOCs) are the most common and have an expiration date. Lines of credit secured with cash, CD's or savings generally have no expiration date.
How much does it cost to apply?
It's free. Applying for a personal loan doesn't cost anything.
Can I get approved today?
If you apply today, you will receive a response in a matter of minutes. If approved, your funds could be in your account in as little as 24 hours.
When will my funds be available?
Your funds could be in your account in as little as 24 hours.
I'm not from the United States. Can I still get approved?
No. You must be a U.S. citizen to qualify.
I have no bank account. Can I still get approved?
No. The amount borrowed will be direct deposited into your bank account. If you do not have a bank account, you will not be able to submit your application.
What can I use this amount for?
They are useful for many needs, including one-time special events (weddings, celebrations and holidays), unexpected expenses (car or home issues, emergency medical expenses) or almost anything else that requires extra funds.
What's my interest rate and when do I need to pay back the loan?
It varies and depends on the lender. Once approved and matched with a lender, you'll be transferred to their website where you can review their terms and repayment schedule.
How will I know if I'm approved?
After the application is submitted, we try to match you with a lender in our network. If successful, you'll be taken to an electronic signature page to complete the process.
I just got denied, what can I do?
People can be denied for many reasons, including a high debt-to-income ratio, bad credit history or low credit score. However, there may be solutions if you need finances right away and know why you were denied. You may consider debt consolidation if debt is an issue. There are many other steps you can take as well that can improve your credit score and reduce your debt.
The form doesn't let me finish. What should I do?
Look at your screen — if there is a message such as "required field," you need to complete the area on the form. If you do not have a bank account, you will not be able to submit your application.