If you’re having trouble paying for an expense in your personal life, a loan might be the solution. Many personal lenders can help you. Even if you have bad credit, there are so many options available today. But that abundance can make your search for a loan harder, not easier.
We’ve compiled a list of lending matchmakers that can help you find the right personal loan. Also, we’ve included one other lender that can help you even if you don’t qualify for marketplace personal loans. The best personal lenders going into 2020 aren’t necessarily the best lenders all around. But they are all lenders that offer loans that serve their specific purposes well.
Best Personal Lenders & Marketplaces
Here are some places you can look for personal lenders or bad credit loans.
EVEN Financial is a good place for Personal Lenders
If you are having trouble choosing one particular lender, EVEN Financial can help you out. EVEN Financial is a lending marketplace. That means that they use your personal financial information to match you with available personal lenders. Because they are a lending marketplace, there is no specified minimum credit score. But your credit score and revenues will be considered by EVEN Financial, and then by any of their partner lenders you apply to.
EVEN Financial’s lenders offer a wide variety of loans terms:
- Loans from $1,000 to $100,000
- APRs ranging from 3.84% to 35.99%
- Repayment terms between 24 and 84 months
While there is a wide range of terms available, speed is a factor that all their loans have in common. Most loans through EVEN Financial are transferred to you the next business day. Their application process is easy and once you complete it you will be matched with several available lenders.
Honest Loans
Honest Loans offers personal loan matching with all kinds of lenders. In most states, they can find you loans as low as $400. But they can also find you loans for up to $50,000 if you need and qualify for such a large loan.
While the other marketplaces we are covering here are all fast, Honest Loans takes speed a small step further. Most of their partner lenders can get you a loan in under 24 hours. Another benefit of using Honest Loans is that they have very low requirements. They have partners that will work with any employed adult borrowers making $800 per month or more.
Honest Loans won’t always find the best deals. But their partner lenders are more accessible than partners on other lending marketplaces. The APRs on loans they can match you with range from 5.99% to 35.99%.
Use SuperMoney to find more Personal Lenders
SuperMoney is another online personal lending marketplace. If you want even more options to compare than you can with EVEN financial they can connect you with even more personal lenders.
SuperMoney is fairly simple. You just need to fill out a financing request which will then be sent to their lending partners. Those lenders then get back to you with real-time loan offers. This makes the process of finding personal lenders even easier.
For more specific service, SuperMoney can match you with certain types of lenders. When you sign up, you just need to tell them what exactly you are looking to finance. They even offer an auto loan marketplace if you are looking to finance a new car.
SuperMoney also has a wide range of terms they can get you through their partner lenders. APRs range from 1.99% to 35.99%, depending on your qualifications.
Can’t Qualify? Try OppLoans
If you have very bad credit, OppLoans can serve as your alternative to payday loans. Their fast personal loans are meant for bad credit borrowers and function as a cheaper option if you feel like you must resort to payday loans.
The rates OppLoans offers are very high. So, we wouldn’t recommend them to you if you have any better options available. The thing is that OppLoans is one of the easiest personal lenders to qualify with. They won’t even want to check your credit!
OppLoans is straightforward with what it is they offer you. If you are considering resorting to a payday loan, you should stop and reconsider your options. Payday loans come with APRs of over 199% and are due in 2-4 weeks most of the time. They are infamous for landing people in predatory debt cycles that seem impossible to get out of. OppLoans’ offer is much better than that. But compared to other personal lenders, they are extremely costly.
Loans from OppLoans come with an APR of at least 59%. Maximum APRs will vary by state and according to state law, but the maximum APR is 199%. So, OppLoans is exactly what it advertises: an alternative to the even more expensive payday loans. On the same theme, OppLoans offers short terms that make it better than payday lenders’ terms, but shorter than terms offered by other personal lenders. So, try checking the marketplaces we’ve covered here before applying for a loan from OppLoans.
