Writer: Brittney Mayer
Editor: Lillian Guevara-Castro
If you’ve been exploring personal loan options and aren’t sure where to turn, keep reading for our PersonalLoans.com review.
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. Let’s dive into what this company has to offer for consumers, including our own expert review of its services as well as a look at what consumers have to say about their experiences.
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.
- Loans from $250 to $35,000
- Large lender network
- Fast loan decision
- Use the loan for any purpose
- Funding as soon as one business day, if approved
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $250 to $35,000 | 5.99% - 35.99% | 3 to 72 Months | See representative example |
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 4.4 out of 5 rating on Trustpilot, 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, people who were able to get a loan through the site seem happy with the experience, while those who weren’t usually feel differently. To give yourself the best shot at a smooth process, check your credit reports for red flags before you fill out any new credit applications. Also keep in mind that taking on more debt is rarely the answer to deeper 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 matches you with banks and non-bank lenders across the country based on your qualifications. Because it works with a large network of partner financial institutions, qualified applicants can often see several rate quotes at once — 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.
Visit PersonalLoans.comAs with any loan or credit application, applying through PersonalLoans.com may lead to a soft or hard credit pull from one of its lending partners. A hard inquiry can cause a small dip in your credit score, but the impact is usually much smaller than what you’d see from missed payments or a defaulted debt.
After you complete your application, PersonalLoans.com will show you quotes from lending partners that fit your needs and qualifications. From there, you can review your choices and pick the option that works best for you. Once you choose an offer, you’ll head to the lender’s website to review the exact terms and conditions and finish the process. In many cases, funding can arrive in as little 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. Making those payments on time is one of the most important things you can do to maintain a healthy credit score.
