- Personal loans up to $35,000
- Trustworthy and credible lenders’ network
- Valuable instructions on each step of the application
- The platform is free to use
- High-standard security encryption system
Cons
- More eligibility requirements are needed compared to some other lending platforms.
Customer experience
Even though PersonalLoans has more strict rules, many customers don’t consider its requirements as a disadvantage. On the contrary, clients feel more comfortable using this marketplace because they feel safe. In addition, customers rank this platform as one of the most credible and reliable places for obtaining a personal loan.
The number of lending platforms is increasing on a daily basis. Since you can find an online matching service on every corner of the internet, choosing the right one is pretty hard. How can you know if it is legitimate? Or, how can you know if the lender with whom you made a deal won’t change the conditions and increase the fees in the middle of your payback time frame? These are just two out of a million questions people ask themselves when they want to apply for a loan online.
While we researched for this article on the best personal loans, we followed some crucial criteria to find a legitimate and trustworthy lending platform. Even though our chosen marketplaces meet all standards, you can run research on your own before you request a personal loan. We’re more than glad that we can share the measures we followed with you, and we hope that you’ll consider these factors when choosing a loan marketplace.
- Reputation
As with anything that you want to obtain, purchase, or make a deal with, you should look for that particular company’s reputation. Ratings, comments, and reviews from customers can be a significant indicator of the company’s reliability and legitimacy.
In addition, companies built their reputability on providing a diversity of products or services. In this case, we recommend you check if the lending platform you chose can connect you with various lenders with different loan offers.
Lastly, long history on the market can mean better conditions and services. That’s because if the marketplace exists for more years, there’s a big chance it will cooperate with credible lenders who can compete for customers by offering better deals. Of course, this statement can be relative since there are many new lending platforms in the business that have already proved their worthiness.
- What is being offered
Since you can’t select a platform only because it’s long on the market, it’s time to move to the next factor we suggest you consider while searching for the right one.
The marketplace’s offered services can be an important indicator that can show its quality. Therefore, it can only be useful for you to choose a platform that isn’t just an ordinary matchmaker but provides various services to guide you through your funds’ management too.
Application form
The first thing you have to do is to make sure that your chosen lending platform provides an easy and simple application form. Maybe this sounds stupid and unimportant, but check this out. One of payday loans in Willoughby OH the reasons why many people decide to close the window of some platform websites is their complicated loan forms. And it’s only logical! Why would you bother to fulfill a complex and unclear request when you can find a marketplace that offers trouble-free forms? We recommend you always look for a place where you’ll be done with the application in less than 5 minutes. This way, you won’t spend your whole day, and the lenders’ offer will come faster.
