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Sunday, April 11th
SoFi (pronounced "SEW-fi", as in "SOcial FInance") is one of the newest sources of personal loans on the market. Their straightforward application process, user-friendly website, and lack of fees make them a very strong contender. We were especially impressed by their unemployment protection feature, which can allow members to suspend repayments on a loan when they lose their jobs. SoFi is a great lender to consider if you're looking for a personal loan.
100 Lenders is a service that connects borrowers with a network of financial institutions who provide personal loans. The application process is quick and basic, and numerous customer reviews praise the service received when taking out a personal loan from a 100 Lenders partner.
Historically, borrowers have had limited options for a personal loan. You could ask a family member, a friend, or find a personal finance company that offered fixed-rate loans, typically at exobrtantly high interest rates.
Today, however, finding a personal loan brings several more options to the table. While you can still ask a family member, or get a high-rate loan from a finance company, you can also consider using a social lending network. These networks, also called peer-to-peer loans, generally have much lower overhead and as a result can offer much lower interest rates. They're facilitated by professional companies familiar with this type of lending, to simplify things for all parties.
No matter where you borrow money from, before you get your next personal loan you should consider the following:
TopConsumerReviews.com has reviewed and ranked the best online personal loan providers available today. We hope this information helps you find the best loan at an affordable rate that meets your needs!
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