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Thursday, January 21st
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.
LendingClub is a recognized leader in the social lending market, which is an alternative to traditional lender-based institutions. They're reliable and do a great job of bringing together lenders and those who want an affordable loan, anywhere from $1,000 to $40,000.
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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Personal Loans Market To See Huge Growth By 2026 | SoFi, Citizens ...
The latest release from HTF MI highlights the key market trends impacting the growth of the Global Personal Loans market. The study highlights influencing factors that are impacting or reinforcing ...
Wed, 20 Jan 2021