Algorithm Matches You with Lenders in Minutes

Personalloans Com Streamlines Lending Consumers

In a nutshell: simplifies the loan application process for consumers by using an algorithm that can match you with a lender in minutes. With its network of potential lenders, there is no need for borrowers to fill out multiple applications.

If you’ve come to our site, chances are you’re looking for every opportunity to be a savvy consumer. If you’re in the market for a personal loan, that means knowing how to efficiently shop around for lending options.

But the world of lending is complicated, and finding the right loan for you can be a cumbersome, time-consuming process. Luckily, there are companies like that simplify the process by matching customers with lenders that may work for them.

How does this process work, you might wonder? We’ll explore how and companies like them play matchmaker for borrowers and lenders.

Taking the Guesswork Out of Loan Applications

Have you ever filled out multiple loan applications just to be declined one by one? You’re not alone — many borrowers seeking loans won’t know whether their applications will be approved until the lender denies them.

Unfortunately for borrowers, it’s often difficult to find the funding they need, as the lenders strict and confidential underwriting criteria that might disqualify them for various reasons. This can be a frustrating experience.

“Customers might have to apply at 10 different lender websites until they can find one who will fund their loan request,” said Jason Ramin, VP of Business Development for’s marketing partner IT Media. “With, however, you only have to apply once, and we will match you with the lender that is to fund your loan.”

Ramin said also helps lenders stick to what they know best — lending (“They are not so good at finding the right customers for their products”). In this regard, the company works as the marketing arm for lenders across the nation.

How Does It Work?

As long as you’ve got a valid ID, regular income, a checking account and a decent credit history, then you’re ready to apply.

What do we mean by “decent”? Typically borrowers will be matched with a lender so long as they don’t have:

  • accounts more than 60 days late
  • active or recent bankruptcies
  • a history of late payments
  • debt that can’t be covered by current income
  • recently charged-off accounts

Curious about the state of your credit score? It’s a good idea to check it regularly.

Once you submit your application, will run your information through advanced matching technology to find the lender likely to approve your application given your financial profile and credit history.

“You only have to apply once, and we will match you with the lender that is likely to fund your loan.”

You’ll be eligible for four types of loans through

  • peer-to-peer loans
  • bank personal loans
  • installment loans
  • signature loans

Once you’re matched with a lender (a process that typically takes only a few minutes), you’ll be directed to the lender’s loan agreement where the terms and conditions of your new loan will be shared with you.

Note that lenders, not, may initiate one or more “hard” pulls on your credit, which could temporarily lower your credit score by a few points. However, the penalty is small compared to the alternative — defaulting on loans or bills because you didn’t have the money to pay them.

Before you take on a new loan or line of credit, be sure to thoroughly read the terms and conditions, and make sure you have an excellent understanding of the payment schedule and what the loan will ultimately cost you. As with any financial agreement, taking the time to read the fine print is a worthwhile endeavor to avoid missteps and misunderstandings.

Once you and the lender agree to work together, expect to see your money within the next one to five business days. However, it should be noted that cannot guarantee approval.

Customer Support

Unlike many other lending services, has a customer support team that actively focuses on the customer experience. Their team is so efficient that nine in 10 borrowers report having a positive experience (via feedback aggregator eKomi), earning the company an average rating of 4.6/5 stars after 660+ reviews.

The company works hard to provide a quality experience. The site features an in-depth guide looking at how the process works and FAQs, providing a transparent experience for borrowers before they even start their application. Should they encounter any problems, customer service reps are available by phone Monday through Friday, 12 hours a day.

“Our mantra is ‘get ahead of the curve,'” Ramin said. “We also put the customer first at and pride ourselves in proactively monitoring customer experience and continually improving it.”

Advertiser Disclosure is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free for users, we receive advertising compensation from the financial products listed on this page. Along with key review factors, this compensation may impact how and where products appear on the page (including, for example, the order in which they appear). does not include listings for all financial products.

Our Editorial Review Policy

Our site is committed to publishing independent, accurate content guided by strict editorial guidelines. Before articles and reviews are published on our site, they undergo a thorough review process performed by a team of independent editors and subject-matter experts to ensure the content’s accuracy, timeliness, and impartiality. Our editorial team is separate and independent of our site’s advertisers, and the opinions they express on our site are their own. To read more about our team members and their editorial backgrounds, please visit our site’s About page.