The listings featured on this site are from companies from which this site receives compensation. This influences where, how and in what order such listings appear on this site.
Adv Disclosure
We aim to provide valuable content and useful comparison features to our visitors through our free online resource. It's important to note that we receive advertising compensation from companies featured on our site, which influences the positioning and order in which brands (and/or their products) are displayed, as well as the assigned score. Please be aware that the inclusion of company listings on this page doesn't imply endorsement. We don't feature all providers available in the market. Any information presented on this page, including pricing, is subject to change without notice. We want to emphasize that we disclaim all representations and warranties concerning the accuracy of the information provided on this site, unless otherwise explicitly stated in our Terms of Use.
Close
Very Good
Visit Site
LoanForPersonal Personal Loans In-Depth Review
In a nutshell: LoanForPersonal connects borrowers to their network of lenders for personal loans up to $50,000.
LoanForPersonal Personal Loans In-Depth Review
In a nutshell: LoanForPersonal connects borrowers to their network of lenders for personal loans up to $50,000.
LoanForPersonal Personal Loans In-Depth Review

Overview

The LoansForPersonal lending marketplace offers an easy place to apply online for personal loans up to $50,000. Not a direct lender, LoanForPersonal provides a convenient and free online service that connects borrowers with third-party lenders and partners.

However you plan to use the funds, LoanForPersonal offers flexibility. You can use the money toward a variety of purposes including medical bills, auto purchase, home improvement, wedding expenses, or a vacation. LoanForPersonal also provides a solution if you’re looking to better manage your debt through credit card or debt consolidation.

Prospective borrowers can handle the entire application process online through the simple, guided questionnaire. LoansForPersonal will review your application and provide a response within minutes. From there, you can review your personal offer. If you decide to move forward, you can accept the loan and expect funding in as quickly as 24 hours.

Requirements

LoanForPersonal hosts an online service, connecting prospective borrowers to their network of lenders. Loan requirements vary from lender to lender. That means LoansForPersonal offers more flexibility in loan requirements compared to applying to a traditional bank or lender. Even if you don’t meet typical credit or income requirements, you could still qualify for a loan.

Keep in mind that LoanForPersorsonal does not offer its services in all 50 states. Some applicants may not qualify based on their residence and should check for eligibility during the application process.

Loan Process

The LoanForPersonal website has an easy 3-step process to apply for a personal loan. You can conveniently handle the application entirely online and expect a decision in minutes. If approved, you can receive your funds in as quickly as the next business day.

Step 1: Provide your details

You’ll begin the application process online through the LoanForPersonal website. First, you’ll need to provide your details. Although the application doesn’t take long, make sure to have certain information prepared in advance, such as your credit score, requested loan amount, employment information, income, and how you plan to use your funds. LoanForPersonal will also need to know your current outstanding debt. You can apply completely for free, and this initial step won’t impact your credit score.

Step 2: Review the offer

Once you apply, you will receive a response within minutes. If approved, you can then review your offer and decide if you would like to move forward.

Step 3: Get funded

Once you accept your personal loan, LoanForPersonal promises fast-funding. You can expect to receive your money in as quickly as the next business day, deposited directly into your bank account.

Loan Terms

LoanForPersonal does not provide funds themselves. Instead, it serves as an online marketplace that connects borrowers with their third-party lenders and partners. A single application will give access to their network, making it easier to qualify for the best terms and rates on your loan.

Each lender has their own policies, and loan terms will vary. Before accepting, make sure to check rates, fees, and other important conditions of the loan.

Pay attention to your required monthly payments, as late payments may result in additional fees or collection activities, or both. Failure to repay your loan could also result in nonpayment penalties and collection activities.

Customer Support

LoanForPersonal personal loans doesn’t offer a whole lot in terms of customer service and online resources. Although their service and application are easy to use, some may prefer more hands-on service to help them throughout the lending process. Those looking for more personalized service may want to consider a more traditional route by applying to a single lender or bank.

Back To Top
Pros
  • Easy online application
  • Fast 24-hour funding
  • Free to apply
Cons
  • Not a direct lender
  • Not available in every state
  • Limited customer service
Loan For Personal at a Glance
8.4 Editorial Score
Credit impact
10
A soft credit inquiry will be used to obtain information and will not have any impact on your credit score
Funding speed
8.0
Comparison tool and marketplace, so the funding speed depends on the individual lenders
Loan flexiblity
8.0
Standard flexibility in loan terms and conditions, as it acts as a marketplace for various lenders
Borrower rewards
7.0
Their primary focus is on providing loans without significant additional perks or incentives for borrowers
Loan amounts
9.0
Partners with lenders that offer a wide range of loan amounts
FAQs About Personal Loans
Before taking a personal loan be sure you familiarize yourself with all the terms and conditions associated with the loan. To help you get started, we've compiled some of the most frequently asked questions about personal loans below.
What is a personal loan?
Personal loans are loans taken from a lender and paid back by the borrower in fixed monthly installments. These loans can be taken for a wider variety of reasons ranging from home improvement to financing large purchases. Unlike mortgage loans or some types of business loans, personal loans are almost always unsecured, meaning they aren't backed by any collateral.
Can I take a personal loan online?
Absolutely! By using an online personal loan service you save yourself the trouble of arranging meetings with banks and/or credit unions and you can easily compare offers while sitting at home. Furthermore, many online personal loan lenders offer better rates than banks and provide more flexible terms ranging from 61 days up to 180 months. These online personal loan services often function as a middleman between the borrower and the lender. The loan service will connect you with a lender who will make a loan offer specifying the APR and loan terms.
What do I need in order to apply for a personal loan?
Applying for a personal loan is much easier than you might've thought. Many online applications take only a few minutes to complete and don't require many personal details. Usually, loan applications simply require details such as name, address, and contact information, plus some basic questions concerning your financial history, credit score, and income.
What is APR*?
APR stands for annual percentage rate and refers to the annual interest rate charged for your personal loan. Actual APR numbers vary but will always cap at 35.99%. Typically, online lenders will offer an APR somewhere between 5% and 30%. The APR of your loan will depend on various factors such as credit score, income, and financial history. *APR rates mentioned include associated fees.
How long do I have to repay the loan?
Much like APR, the term or length of your loan will depend on a variety of factors. Repayment periods can range from 61 days to 180 months. One of the great things about online personal loan services is they allow you to compare loan terms meaning you can choose a repayment period that best suits your financial goals.
Representative Example
Assuming a loan of $5,000 over 36 months at a fixed rate of 10.5% per annum and fees of $60.00.
This would result in a representative rate of 11.3% APR, with monthly repayments of $162.51, for a total amount paid of $5,910.44.
Back To Top