With so many online loans available it can be hard to find the right lender. helps you compare interest rates and costs of multiple online lenders in one place. Use our comparison tool to find the best online loan to suit your needs.

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  • Loans up to $40,000
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Please note that loan amounts, interest rates and other loan terms may vary according to your state and credit profile.

Frequently asked questions

Why should I get a personal loan?

A personal loan can be taken out for a number of purposes. These reasons can include emergency expenses, educational needs, property improvement, etc. However, some loans come with stipulations from the lender as to how it should be used. You should only take out a personal loan if you have a plan for using and repaying the loan.

What information do I need for a personal loan?

Most lenders require certain identification documents to approve a loan. Almost every lender will require your social security number, your date of birth, a phone number, & an address. Some lenders may ask for more information, such as an email address, or proof of income, depending on the specific lender and the loan being applied for.

How much can I borrow, and for how long? has loan amounts starting at $100 and up to $50,000. The term lengths can start at 1 month and reach up to 15 years. Each loan has different amounts and terms depending on lender.

How does my credit score affect my application for a loan?

Your credit score is highly influential in getting a loan. Lenders will always look into a borrower’s credit score to determine their risk. This means a higher score will benefit a borrow when applying. However, many lenders do provide loans to borrowers with low credit scores, so do not be dismayed by a low score.

Do I need to be employed to get a loan?

Not necessarily. Many lenders provide smaller loans to borrowers without any proof of income. However, if you want to apply for a larger loan, a lender is more than likely to require proof of income to be approved. Self-employment income, retirement income, and social security income may also be considered.

Loan Types and What to Consider Before Taking Online Loans

There are many reasons why you might consider finding a loan online; such as making a large purchase, reconsolidating debt, or needing some quick cash for something – and this is what loans are good for!

Because of the competitiveness in the current lending marketplace, lenders are striving to make solid landgrabs for business by offering hyper-competitive rates on loans online. Now banks and other lenders are locking horns and what it means for you as a consumer is now more than ever, you have many more options on where and how to borrow.

Consumers can now apply for loans online and get approved without setting foot inside a brick-and-mortar bank. Knowing the different types of loans available allows you to better understand all your options and choose the loan that’s best suited for your situation

Secured Loans Online

online loans

A secured loan is one that you take out against something you own, generally a vehicle or a home. The asset is considered collateral, and if you default on the loan, the lender will seize the collateral to help pay off the loan.

Generally, the interest rate on a secured loan is lower than an unsecured loan, because the risk is lower. In fact, you may even be able to negotiate a lower interest rate on a secured loan.

Consumers with better credit ratings also tend to get better terms and interest rates on secured loans, as the risk to the lender is lower. Furthermore, a secured loan may also have more flexible repayment terms.

Examples of secured loans include:

  • Auto loans
  • Recreational vehicle loans
  • Mortgages
  • Home equity loans
  • Home equity lines of credit

Unsecured Loans

An unsecured loan does not involve any type of collateral. With this type of loan, the only recourse the lender has on your default is to freeze your account.

They can then attempt to collect your debt using a debt collection service. This will also cause damage to your credit report and possibly prevent you from taking out any other loans until this one is resolved or falls off your credit report.

The lender generally ties the amount of money you can borrow using an unsecured loan to your debt-to-income ratio, assets, and your credit history. Because the lender is taking on more risk, an unsecured loan usually carries a higher interest rate.

An unsecured loan may be referred to as a personal loan or signature loan. These types of loans are generally reserved for those with above-average or higher credit ratings.

Examples of unsecured loans include:

Different Ways to Borrow Money

If you need to borrow money, here are some different ways to do so.

Line of Credit (LOC)

A line of credit works like a credit card. The lender gives you a maximum balance, and you can then borrow as much as you would like from the line of credit – up to the agreed upon maximum amount. Unlike a credit card, though, there are different phases for a LOC.

The initial phase is the draw phase when you can actively use the cash in the LOC. Then comes the payment phase, which is when you start repaying the money you drew. In between these phases, there may be an interest-only phase, which is when you pay only the interest on the amount you have drawn.

Based on how the line of credit is arranged, you may be able to write checks through the account, or it may be linked to your debit card. A line of credit may be either secured or unsecured.

Conventional Loan

Conventional loans are generally used for large purchases, such as real estate or vehicles. This type of loan could also include a home equity loan or personal loan.

The amortization and repayment terms for a conventional loan are consistent and predetermined, so you know precisely what your monthly payment will be, as well as long you have to pay. A conventional loan may be secured or unsecured.

Payday Loan

Payday loans are also known as cash advances. Consumers often use these loans as quick solutions for emergencies. This type of loan is intended to be used as a short-term solution and is secured against your next paycheck.

Bridge Loan or Interim Loan

A bridge or interim loan can also be referred to as a single-payment loan, and borrowers generally use it as short-term temporary financing. Borrowers usually pay off a bridge loan in one lump sum rather than in scheduled installments.

In some cases, a bridge or interim loan may be used to purchase real estate, including building a new home.

Applying for Personal Loans Online

online payday loan

Before applying for a personal loan online, it’s important to make sure you understand the application process. Not all personal loans require a credit check. For instance, some payday loans or cash advances don’t require a credit check because your next paycheck is used as security.

In cases where your credit history is a factor, you’ll want to get a copy of your credit history before submitting a loan application.

Take the time to carefully review your credit report from the three major reporting agencies: TransUnion, Experian, and Equifax.

While you are reviewing your credit score you can also resolve any flaws or errors. Keep in mind that lenders that require a credit check may also have minimum credit score guidelines. If you don’t meet that minimum, then there is no reason to apply.

The decision to apply for a loan is a big step. Prior to moving forward, make sure you fully understand all your lending options,  as well as the advantages and disadvantages of each type of loan.

Read More about Different Kinds of Loans

Where Can I Compare Loans? has made it easy to find loans online in a wide range of categories. Simply select the type of loan you’re hoping to get, and then use our loan comparison tool that will accompany the page. It’s that easy!

So get started right away!


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Published: December 29, 2016
(Last Updated: July 9, 2020)