In a Nutshell: PersonalLoans.com simplifies the loan application process for consumers by using algorithms that can match applicants with lenders in its network, eliminating the 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 PersonalLoans.com 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 PersonalLoans.com 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.
“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 PersonalLoans.com’s marketing partner IT Media. “With PersonalLoans.com, however, you only have to apply once, and we will match you with the lender that is to fund your loan.”
Ramin said PersonalLoans.com 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.
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