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2018 PersonalLoans.com Review: Best Online Personal Loans?

Brittney Mayer 12/22/17

In a marketplace full of options, the wisest course is often to carefully compare those options to ensure you end up with the best one. But with so many choices, it can be a lot of work to compare them all. Even in the modern age of digital technology, you’d need the 750 limbs of a female Illacme plenipes to compare all the options for something as basic as toothpaste.

While the wrong choice of toothpaste may just leave a bad taste in your mouth, however, picking the wrong personal loan can cost you a bundle in fees. To help make the comparison shopping easier, PersonalLoans.com is a popular option for consumers with bad credit who want to compare loan quotes from multiple lenders at the same time — no additional limbs necessary.

Our Take | Other Reviews | How It Works

Our Take: Huge Online Lending Network with Flexible Req’s

The biggest thing PersonalLoans.com has going for it is, really, just its nature: the organization operates as an online lending network, connecting prospective borrowers with lenders from all over the US. The key to PersonalLoans.com’s success lies in its huge of lending partners.

This vast network allows the site to help borrowers with a wide range of credit scores and backgrounds find the loan they need. It also means PersonalLoans.com can provide a variety of loan types, with loan sizes and lengths to meet almost any personal loan need. Qualified borrowers can find loans up to $35,000 through the site, as well as loan lengths as long as 72 months.

4.8 /5.0 Stars
  • Loans from $2,000 to $35,000
  • Bad credit is no problem
  • Available in all 50 states
  • Use the loan for any purpose
  • Fastest approval and funding
  • See official site, terms, and details »
Loan Amount $2,000 to $35,000
Interest Rate 5.99% - 35.99%
Loan Example
Representative example
Our Expert Review 4.8/5.0 (see review)

While many of PersonalLoan.com’s lending partners have flexible credit requirements, you’ll still need to have a credit history void of any serious red flags, such as currently defaulted accounts, recent bankruptcies, or a particularly high debt-to-income ratio. You’ll also need a regular income and an active checking account in good standing.

You’ll only need to fill out a single application with PersonalLoans.com to receive multiple quotes from lenders who best match your personal qualifications. The application is short and simple, requesting the typical information you’d need to provide on any other applications for new credit, including basic personal information, like your name and address, as well as verifying your identity and that you have an active bank account.

PersonalLoans.com advertises that its users can typically expect to receive funds in as little as one business day, which is pretty good turnaround for a personal loan. Of course, your individual experience may vary depending on your specific lender, so keep that in mind if you need your loan funds right away.

PersonalLoans.com Has a 4-Star Rating with TrustPilot

As seems to be the norm with most credit products that offer bad credit financing, PersonalLoans.com has mixed reviews across the interweb. That being said, the lending network has earned a solid 4-star rating from TrustPilot.com, and has dozens of positive reviews across multiple review sites.

In general, positive reviewers are pleased with the simplicity of the application process, and are pleased with the short wait to receive their funds. Many reviewers with poor credit are simply glad to find a lender who will take a chance on them.

I am really happy with how prompt and efficient this process was. I needed a loan right away and they connected me with a lender who could provide the funds almost immediately. Thanks again, guys! — TrustPilot Reviewer

For some reviewers, however, the process was quick — getting their funds a little less so. That said, even those who could have wished for a faster turnaround time were generally still happy with their overall experiences.

I have mostly positive things to say about PersonalLoans.com. Everything was pretty easy to understand and I felt safe using the lenders in their network. My only complaint is that I didn’t get my loan the same day… — TrustPilot Reviewer

It’s not all positive. Some negative reviewers report being unable to find a lender through the site, often due to credit issues. More reviewers are unhappy about the pre-screened offers they start receiving from lenders after applying for a loan through PersonalLoans.com.

I attempted to apply for a loan on this site only to find out I don’t meet the criteria for any of them. It’s the same old bait and switch. They advertise loans regardless of credit but you get denied based on your credit. — ConsumerAdvocate.org Reviewer

All in all, it seems that those who were able to obtain a loan through the site are happy with the experience, and those who could not — are not. To ensure you get the best experience possible, look at your own credit reports for any red flags before filling out any applications for new credit. And remember that taking on more debt (and loans are debt) is rarely the solution to systemic financial problems.

Connect with Lenders from Around the Country

The process of obtaining a loan through PersonalLoans.com is fairly easy, but may be confusing to some who misunderstand PersonalLoans.com’s actual role. To be clear, PersonalLoans.com doesn’t actually provide your loan; the company isn’t a bank, and it doesn’t directly provide financing.

Instead, PersonalLoans.com is an online lending network that connects you with banks and non-bank lenders from across the country, based on your qualifications. Because PersonalLoans.com has such a large number of partner financial institutions, it can often provide several rate quotes at once to qualified applicants — all from a single application.

And the need to fill out only one application makes the application process itself a breeze. While PersonalLoans.com itself isn’t the lender that will provide you with your eventual loan, filling out the site’s loan application will require the same information as most other loan applications because PersonalLoans.com will forward your application to your potential lenders, saving you from needing to fill out multiple forms.

As with any other loan or credit application, applying for a loan through PersonalLoans.com can result in a soft or hard credit pull being made by PersonalLoans.com’s lending partners. Each individual hard credit pull can have a small impact on your credit score (though less of an impact as you would see from defaulting on a debt or missing payments).

Once you’ve filled out your application, PersonalLoans.com will provide you with quotes from any lending partners that match your needs and qualifications. You can compare your options, then select the best one for you. When you select an offer, you’ll be taken to the lender’s website where you can see the exact terms and conditions of the lender’s offer and complete the process. In many cases, users can receive funds in as few as one business day.

Borrow Responsibly for the Best Results

For those who meet the lending requirements, PersonalLoans.com seems to be a solid choice for finding a personal loan without needing to fill out dozens of applications with various lenders. Because let’s face it, rate shopping can be tedious — and we don’t all have 750 limbs to speed up the process.

Always remember that your new loan is a form of debt, and the best way to ensure a positive borrowing experience is to borrow responsibly. Always make your required payments each month, on time, and never take on more debt than you can really afford to repay.

Brittney is a Contributing Editor for Digital Brands, Inc., where she uses her extensive research background to develop comprehensive guides and in-depth company profiles for BadCredit.org and CardRates.com. Brittney specializes in translating complex ideas into readable, engaging content for B2C and B2B audiences.
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