Friendly banker or lender in suit consulting young couple,in bank office. Concept: Best Personal Loans
Camino Financial
By: camino-financial
Read in 35 minutes

Best Personal Loans Of 2023

100 0

The best personal loans are those with competitive interest rates, terms, and reputations.

Whether you plan to consolidate debt, make home repairs, invest in your business, or finance a family vacation, these financial products are great alternatives.

At Camino Financial, we have evaluated many lenders and compiled this list of the 15 best in the US to help you compare the available benefits and features.

Table of Contents
1. Best online personal loans
2. How to choose the best personal loan options
3. Personal loan requirements
4. How to apply for the best personal loans
5. What is a personal loan?
6. Pros and cons of personal loans
7. When should I get a personal loan?
8. What can you use personal loans for? 
9. Is it a good idea to get a personal loan?
10. Personal loans interest rates, fees, and more
11. Considerations before you get a personal loan
12. Online personal loans vs. Traditional lenders
13. FAQs

Best Online Personal Loans

Camino Financial

If you’re considering using a personal loan to fund your business, Camino Financial can help you achieve your business goals.

If you want to invest in your small business, you can use a CF loan to:

  • purchase equipment or inventory
  • cover operating expenses
  • fund marketing and advertising
  • consolidate business debt
  • and much more!

With Camino Financial, you can get from $5,100 to $35,000 with monthly payments (from 24 to 36 months) and no hidden fees.

You can apply with an ITIN if you do not have an SSN!

We want to ensure that everyone, regardless of their immigration status, can access the capital they need.

So that you can keep your finances healthy without drowning in debt, we have fixed rates.

The best thing is that our process is 100% automatic, paperless, and speedy.

Apply for a business loan today


With loan amounts starting at $300 and up to $8,000, Oportun is a great option for borrowers with no credit history or bad credit.

This company provides lending services to the Latino community; they accept lenders with no Social Security Number and only an ITIN or Individual Taxpayer Identification Number.

They’ve capped their APR at 35.99%.

This option is excellent for covering unexpected expenses or cash shortages, as the funding process typically happens on the same day.

They will give you six to 46 months to repay the loan, making Oportun personal loans a great option for short-term expenses.

They also have a secured personal loan (which requires collateral) for people who may not have a great credit score but don’t want to pay high-interest rates.

OneMain Financial

OneMain Financial is another option for those applicants with only an ITIN. It offers personal loans for borrowers with low credit scores, with a secured loan and unsecured options available, ranging from 24 to 60 months.

If you need to pay off credit cards or manage business expenses, this institution has a solid history of providing consumer loans.

You can borrow from $1,500 to $20,000, and the annual interest rates range from 18% to 35.99%.


SoFi offers exceptionally competitive rates for a much longer term if you have a solid credit score.

They are a trusted resource for refinancing student loans or other significant expenses, with two to six years available for the repayment term options.

With a maximum loan amount of $100,000 and low rates, in average of 14.84%, Sofi is an excellent solution for creditworthy borrowers to consolidate debt or pay large expenses.

You can complete the personal loan application online.


If you need to cover large purchases or consolidate debts, Prosper can be a good option with annual interest rates that range from 6.99% to 35.99%.

You can borrow anywhere from $2,000 to $50,000, subject to credit approval.

However, keep in mind that this lender does charge an origination fee, ranging anywhere from 1 to 5% of the total loan amount.

It is a great solution for those looking for a repayment term between three to five years.

Best Egg

For individuals with a solid credit score, Best Egg offers low annual interest rates ranging from 8.99% to 35.99%.

The minimum credit score to apply is 640, and the loan amounts range from $2,000 to $35,000.

This loan is best for individuals with fair to excellent credit, with a median income at or above $60,000.

Many use Best Egg loans for personal and business expenses and home improvements.

Happy Money

With fixed rates and simplified term options, Happy Money is a great personal loan option to consolidate credit card debt.

They offer loans between $5,000 and $40,000, two and five years for repayment, and annual interest rates from 5.99% to 24.99%.

This lender charges origination fees of up to 5%, but they have no other common fees.


Upstart is an online lender with affordable annual interest rates between 6.7% and 35.99%, estimated to save borrowers up to 24% compared to credit card rates.

Not only does Upstart make sure there is no prepayment penalty, but they also offer a simple application process for borrowing up to $50,000.


By Goldman Sachs Banks, Marcus specializes in debt consolidation and personal loans for creditworthy applications, with an APR ranging from 6.99% to 24.99%.

It’s the most competitive option if you are looking for an option with a fixed interest rate and no origination fee, with loans between $3,500 to $40.000.

You can use the funds to pay for business expenses or your cash flow needs with loan term options between 36 and 72 months. You can make an online personal loan application.

Laurel Road

This online lender offers competitive terms for low to middle-income small businesses.

Their loans arrange between $5,000 to $35.000, with interest rates up to 24.50%

Not only does Laurel Road have low rates and flexible terms and conditions, but if you need money fast, you can get approved within two days and receive your money within two more.

They feature an easy-to-use online application and payment calculator.

You can also receive discounts if you sign up for autopay directly from your bank for each payment.

We don’t recommend applying for several personal loans with different lenders at the same time. This can damage your credit score. It’s better to research all the lenders you’re interested in and apply only with the one that better fits you.


By applying for a personal loan through Upgrade, you can find out if you’re approved within minutes.

This online lender offers friendly terms and conditions for unsecured personal loans for up to $50,000.

They have low fixed rates, affordable monthly payments, and no prepayment penalties.

They also provide their customers with access to credit monitoring and educational resources to help them better manage their financial well-being and credit score.

Lending Tree

Lending Tree is a marketplace with many online lenders for personal loans that allow you to shop around for the best personal loan rates.

Numerous lenders use Lending Tree to connect with a variety of borrowers.

Given the variety of lenders, you’re likely to find personal loans with low-interest rates that work for your needs.

Lending Tree allows you to select what you want to use the personal loan for, so you can find one that tailors to your goals.

Lending Club

In today’s world, you have numerous options for finding personal loans from various sources.

Lending Club is a peer-to-peer platform connecting individuals looking to borrow with individuals looking to invest.

You can get reasonable terms and conditions through Lending Club, even with a low credit score.

It usually takes around seven days from applying until you receive your money in your bank account. You can borrow up to $40,000.

Rocket Loans

As the name implies, Rocket Loans guarantees a quick application and approval process to get your money quickly.

They also provide prospective borrowers access to personal loan experts to answer questions and guide them through the process.

In addition to priding itself on the simplicity of its system, Rocket Loans also caters to a wide range of individuals.

That way, you’re likely to be able to find a personal loan with low interest and all the conditions that work for your circumstances.

The Top 14 Personal Loans At A Glance

LenderMax. Loan AmountAPRLoan Term
Camino Financial$35,00031.55% – 57%24 – 36 months
Oportun$8,000max. 35.99%4 – 46 months
OneMain$20,00018% – 35.99%24 – 60 months
SoFi$100,00014.84%*24 – 84 months
Prosper$50,0006.99% – 35.99%24 – 60 months
Best Egg$35,0008.99% – 35.99%36 – 60 months
Happy Money$40,0005.99% – 24.99%24 – 60 months
Upstart$50,0006.7% – 35.99%36 – 60 months
Marcus$40,0006.99% – 24.99%36 – 72 months
Laurel Road$35,0009.24% – 24.50%36 – 60 months
Upgrade$500008.49% – 35.99%36 – 60 months
Lending Tree$50,000max. 35.99%2 – 180 months
Lending Club$40,0009.57% – 36.00%36 months – 60 months
Rocket Loans$45,0009.16% – 29.99%36 – 60 months

*Average interest rate.

How to Choose the Best Personal Loan Options

There are many things to consider when choosing a personal loan. Here are some of the most important factors:

Loan Amount

The loan amount is the total money you borrow from the lender.

Make sure the lender offers the amount you need and that it’s affordable for your budget. Ensure you leave room for unexpected expenses.

The Type Of Credit Inquiry

A soft credit check is a credit inquiry that does not impact your credit score.

This is important because you want to avoid any potential negative impacts on your credit score when shopping for a personal loan.

Find the right loan for you by considering the maximum loan amount, APR, loan term, and other relevant features.

Repayment Terms

Repayment terms are the length of time you have to repay the loan, ranging from a few months to several years.

Choose a repayment term that is realistic for your budget and financial goals.

  • Shorter terms will have higher monthly payments, but you’ll pay less overall interest.
  • Longer terms will have lower monthly payments, but you’ll pay more overall interest.

Annual Percentage Rates

The annual percentage rate (APR) is the cost of borrowing money, expressed as a percentage of the total loan amount.

The lower the APR, the less you will pay in interest over the life of the loan.

The Prepayment Penalty

Some lenders charge a fee if you pay off your loan early, so read the fine print before signing anything.

The Associated Fees

Many lenders charge origination fees, late fees, and other hidden charges. By understanding all the fees, you’ll get an accurate comparison of the cost of the loans.

Your Needs

Remember, the most critical factor is finding a loan that meets your needs and fits your budget. Don’t forget to shop around.

The best way to get a personal loan is to compare the different options and find the one that best suits your needs. Personal loans are available from banks, credit unions, and online lenders.

You should also consider each option’s interest rates, repayment terms, and fees.

When you’re ready to apply for a personal loan, be sure to compare offers from multiple lenders to ensure you’re getting the best deal possible.

Personal Loan Requirements

Requirements for personal loans can vary depending on the lender, but some general requirements are typically needed to qualify.

Below is a list of some of the most common requirements:

  • A good credit score: You will need a good credit score. This is because personal loans are often unsecured, which means no collateral backs up the loan. As such, lenders will look at your credit score to understand your loan repayment ability.
  • A steady income: Lenders will also want to see that you have a steady income to qualify for a personal loan. This is because they will want to ensure you can repay the loan.
  • A minimum amount of debt-to-income ratio: Your DTI ratio is a measure of how much debt you have compared to your income. Lenders use this ratio to help determine whether you can afford to repay a loan. Ideally, your DTI ratio should be below 36%. This means that no more than 36% of your income should pay monthly debts.

How to Apply for the Best Personal Loans

There are a few things to keep in mind when applying for a personal loan, such as:

  • Before shopping around for personal loan lenders, you must know how much money you need to borrow. This will help you narrow down your options and ensure that you don’t end up with a loan that’s too small or too large for your needs.
  • Check your credit report and score before you apply. This will give you an idea of where you stand and whether the lender will approve you.
  • Once you know your credit score, you can start shopping for the best small personal loan. Many lenders will allow you to get prequalified for a loan, giving you an idea of what interest rate you qualify for.
  • You’ll also want to compare loan terms, fees, and repayment options.
  • Read the fine print carefully before you agree to anything. This includes understanding the interest rate, repayment terms, and any fees or penalties associated with the loan.
  • Be prepared to provide some collateral. This could be a vehicle or other asset the lender can hold onto if you default on your loan.

Once you’ve found the right loan for your needs, you can apply for it online or in person. Make sure to have all of the required documentation, such as your ID, proof of income, and bank statements.

Please enter a valid first name

Please enter a valid last name

Please enter your phone number

Your phone number must be 10 digits

Please enter your email address

Please enter a valid email address

Loan Type
Business loan Personal loan

Please select a loan type

Time in Business
Under 9 months More than 9 months

Please select an option

Please select the box above

What Is a Personal Loan?

A personal loan is taken out for personal, rather than business, purposes.

You can use the loan for anything from debt consolidation to wedding funding.

However, they can be a good option for those who cannot get other types of financing.

Remember that lenders limit most loans to around $40,000, with a few allowing more significant amounts. However, if the limited amount still fits your needs, personal loans could be your best option.

How Do Personal Loans Work?

Personal loans are among the most popular loans because anyone with good and bad credit can access them.

Prospective borrowers go through an application process either online or in person and then wait for approval from their lender – whether it’s:

  • granted instantly, like at banks & Credit Unions, gradually leading up to funding over time via monthly payments, which start as soon as you get paid (like certain debt financing companies),
  • or denied altogether without any retroactive interest fees charged if rejected immediately after applying.

Here’s a quick overview of how they work:

  1. Apply for a personal loan with a lender.
  2. If approved, the lender will give you a loan amount and terms.
  3. You’ll make monthly payments to the lender, with interest, until you pay off the loan.
  4. You’ll finish with payments once you pay off the loan.

Personal loans are a great way to get the funds you need for a major purchase or to consolidate debt.

Types of Personal Loans

There are many types of personal loans available to consumers.

Some common types include:

  • secured loans, which require collateral, such as a home or car;
  • unsecured personal loans, which are not backed by collateral;
  • fixed-rate loans, which have an interest rate that remains the same for the life of the loan; and
  • variable-rate loans, which have an interest rate that can fluctuate over time.

Pros and Cons of Personal Loans

Here are a few pros and cons of this loan to help you decide if they’re right for you:


  • They can give you the financial flexibility to cover unexpected expenses or make a large purchase.
  • You can use the personal loan funds for various purposes, including consolidating debt, paying for home improvements, or funding a significant life event like a wedding or vacation.
  • It typically has lower interest rates than credit cards so that you can save money on interest over time.
  • You can choose the repayment term that best fits your needs, making it easier to manage your loan payments. Usually, it’s easier to qualify for personal loans than business loans.
  • There are fewer requirements in general and less paperwork involved.
  • Many lenders don’t require a high credit score. However, if you do have strong credit, you may be able to qualify for competitive interest rates.
  • Many loan options are available (but not all of them) with no collateral required: this means you don’t need to secure the loan against your property or assets.
  • The interest rates and monthly payments are usually fixed to help you plan your monthly expenses.
  • The approval process for personal loans is much faster than for business loans.


  • Personal loans come with interest and fees that can add up over time.
  • You could damage your credit score if you miss a payment or default on your loan.
  • Personal loans are not secured by collateral, so they may be more challenging to qualify for if you have bad credit.

Before taking out a loan, understand the terms and conditions to make the best decision for your financial success.

When Should I Get A Personal Loan?

There are vital situations when it makes sense to get a personal loan.

  • This can be a good way to consolidate your debts and get a lower interest rate if you have high-interest debt. It allows you to save money on interest payments and help you pay off your debt faster.
  • If you need to make a large purchase, a personal loan can be a good option if you don’t have the cash on hand. And if you have a financial emergency, it can also give you the funds you need to get through it.
  • Emergency expenses can strike anytime and often when we least expect it. Whether it’s a medical bill, a car repair, or something else, these expenses can quickly add up and become difficult to manage. That’s where personal loans come in.

Reasons To Get A Personal Loan

Here are some of the most common reasons:

  • Debt consolidation: If you have multiple high-interest debts, such as credit card debt, a personal loan can help you consolidate those debts into one payment with a lower interest rate.
  • Home improvement: If you need to repair or renovate your home, a personal loan can help you finance those expenses.
  • Medical expenses: If you have unexpected medical bills or need to pay for elective procedures not covered by insurance, a personal loan can help cover the costs.
  • Moving expenses: If you’re moving and need to cover the cost of movers, storage, or other expenses, a personal loan can help.
  • Wedding expenses: Weddings can be expensive, and if you don’t have enough saved, a personal loan can help you pay for the ceremony, reception, or other wedding-related expenses.
  • Educational expenses: If you need to pay for tuition, textbooks, or other educational expenses, a personal loan can help cover the costs.
  • Business expenses: If you’re starting a business or need to cover business expenses, a personal loan can help you finance those costs.

What Can You Use Personal Loans For?

Here are some of the most common reasons people use personal loans:

Debt Consolidation

If you have multiple debts with high-interest rates, you might want to consolidate them into one loan with a lower interest rate.

This can save you money on interest and make it easier to pay off your debt.

Large Purchases

A personal loan can be an excellent way to finance a big purchase, such as a new car or a wedding.

Since personal loans usually have fixed interest rates, you’ll know exactly how much your monthly payments will be.

Unexpected Expenses

An unexpected expense, such as a medical bill or car repair, can be challenging to afford.

A personal loan can help you cover the cost of these unexpected expenses.

For Businesses

There are many reasons why business owners might take out personal loans.

Perhaps they need to make a one-time purchase for their business, such as investing in new equipment or inventory.

Or maybe they need to cover unexpected costs, like emergency repairs.

You can use the loan proceeds to finance expansion plans, such as opening a new location or hiring additional staff.

And in some cases, business owners may use personal loans to consolidate debts such as credit card balances or business loans.

Is It A Good Idea To Get A Personal Loan?

Personal loans could be a great tool to finance your personal needs.

You see, debt is not always bad. When debt allows you to accomplish your goals and doesn’t hurt your finances, it’s a great idea to acquire debt (in the form of a personal loan or a credit card, for example).

It all depends on what you plan to do with the loan and if it will have a good ROI (Return On Investment).

You also need to make sure that the loan has fair interest rates. If you have an excellent personal credit score, you might be able to get better terms, therefore, cheaper loans.

Everything You Need To Know About Personal Loans: Interest Rates, Fees, Terms, And More

Interest rates and fees on personal loans in the US can vary greatly, so it’s important to compare your options carefully before you apply.

Here’s a look at some things to keep in mind when shopping for a personal loan:

Fixed Or Variable Interest Rate

You have two main choices for personal loan interest rates: fixed or variable.

  • Fixed interest rates remain the same for the life of your loan, so you’ll always know how much your monthly payments will be.
  • Variable interest rates, on the other hand, can fluctuate over time, meaning your monthly payments could go up or down.

Origination Fee

An origination fee is a one-time charge assessed when you take out a loan.

It’s typically a percentage of your loan amount and can vary depending on the lender.

For example, some lenders may charge a 2% origination fee on a $10,000 loan, while others may charge a 5% origination fee.

Prepayment Penalty

A prepayment penalty is a fee that some lenders charge if you pay off your loan early.

If you find a better interest rate elsewhere or simply want to save on interest by paying off your loan sooner, the lender may penalize you.

Late Payment Fee

The lender may charge you a late payment fee if you pay late on your loan.

This fee is typically a percentage of your unpaid balance and can vary depending on the lender.

Minimum Monthly Payment

Most personal loans have a minimum monthly payment, the smallest amount you must pay.

This is typically a percentage of your loan balance and can vary depending on the lender.

Grace Period

A grace period is your time before your first payment is due.

This can be helpful if you need a little extra time to get your finances in order before making your first payment.


Collateral is something of value that you pledge to secure a loan.

If you default on your loan, the lender can seize your collateral to recoup their losses.

Many personal loans don’t require collateral, but some do.

Personal Loan Average Interest Rates

The cost of a personal loan depends on several factors, including the loan amount, the interest rate, and the loan term.

The average interest rate for a personal loan is about 10%, but it can range from 7% to 36%.

Here are average personal loan rates by credit rating, according to data from LendingTree:

  • Excellent credit (720-850): 5.8% – 15.9%
  • Good credit (690-719): 8.5% – 19.9%
  • Fair credit (630-689): 13.3% – 32.2%
  • Poor credit (300-629): 17.4% – 35.0%

The loan term also affects the cost – loans with shorter terms usually have lower interest rates but require higher monthly payments.

A personal loan calculator is the best way to estimate your personal loan’s costs.

This tool considers all the different factors that affect the cost of a personal loan, so you can see exactly how much you’ll need to pay back each month.

With a personal loan calculator, you can compare different loans and find the one that’s right for you.

Term Loan Calculator

The 2022 Fed Hike Impact On Personal Loans

The Federal Reserve has raised interest rates to fight inflation.

The action is an effort by the central bank not only to balance out economic growth but also to prevent prices from rising too fast, which could lead to a dangerous bubble forming in housing markets and other areas where wealth has been flowing freely over time.

How has this affected personal loan interest rates?

The Federal Reserve has hiked interest rates in 2022 and 2023 up to 5%.

Considerations Before You Get A Personal Loan

The Amount

Remember that lenders limit most loans to around $40,000, with a few allowing more significant amounts.

However, if the limited amount still fits your needs, personal loans could be your best option.

Your Credit Score

You should always check your credit score before applying for a loan.

The Consumer Financial Protection Bureau confirms that is the official website allowing you to access your credit reports from all three major credit bureaus — Equifax, Experian, and TransUnion — at no cost.

Also, some bank institutions will check your credit profile to determine your creditworthiness. Prospective landlords and other people interested in your credit history also utilize them.

A credit profile is a document that provides information about someone’s credit history.

One of the best ways to get a personal loan is by improving your credit score.

Good credit scores will make it easier for someone to access credit, while bad credit can become a major stumbling block.

The Intended Use

Personal loans are typically used for things like:

  • consolidating debt
  • home improvements
  • unexpected expenses

However, if you need a loan for business purposes, it’s best to explore business loan options instead of using a personal loan.

Business loans often have better terms and interest rates, and they are specifically designed to help with business expenses.

So, before applying for a personal loan, consider whether it’s the best option for your particular financial needs.

Online Personal Loans vs. Traditional Lenders

Though online personal loans and traditional lenders have advantages, there are some key differences to consider before taking out a loan.

For one, online personal loans are more convenient than traditional ones.

You can usually apply for an online loan from the comfort of your home, often faster than going through a traditional lender.

Another advantage of online personal loans is that they are sometimes more affordable than traditional ones.

This is because online lenders often have lower overhead costs than brick-and-mortar banks, meaning they can pass the savings on to you in the form of lower interest rates.

Of course, there are also some drawbacks to consider with online personal loans.

One is that you may not be able to get the same level of customer service as you would with a traditional lender.

This is because you’ll likely be dealing with a computer rather than a human being when you apply for an online loan.

Another potential downside of online personal loans is that they can be more difficult to qualify for than traditional loans. This is because online lenders often have stricter eligibility requirements than brick-and-mortar banks.

So, which type of loan is right for you? That depends on your circumstances. An online personal loan may be the best option if you’re looking for a fast and convenient loan.

However, if you’re worried about qualifying for a loan, you may be better off going with a traditional lender.

Get the Capital You Need For Your Business

At Camino Financial, we focus on helping you access affordable capital through excellent financial solutions.

Camino Financial has fewer qualification requirements for those who cannot obtain funding from traditional banks.

We offer the best rates and terms, and the paperwork required during the process is minimal.

Our Business Loans

These are some of the features of our small business loans:

  • Business loans from $5,100 to $35,000
  • A fast, safe, and paperless application
  • Fixed interest rates and monthly payments

Camino Financial is your best option, thanks to our different financial products.

When you apply with us, we’ll ensure to offer the loan that will best help. We’ll also guide you throughout the process.

You can complete the application within a few minutes and receive an instant loan quote!

Apply for a business loan today



Which bank is best for personal loans?

There is no one “best bank” for personal loans. It depends on your individual needs and preferences. Some banks may have lower interest rates, while others may have more flexible repayment terms.

What are the easiest loans to get approved for?

The easiest loans to get approved for are typically small personal loans or installment loans.

Lenders will likely have a lower minimum credit score requirement for these types of loans, and you may not need to provide as much documentation as you would for a larger loan.

That said, it’s important to remember that all loans have risks. So be sure to read the terms and conditions of any loan agreement carefully before signing on the dotted line.

Which bank gives the fastest personal loan?

The bank that gives the fastest personal loan is the one that has the quickest approval process.

Some banks have online applications that you can fill out in minutes, and others may require a more detailed application, but most banks will have a response within a day or two.

What is the easiest place to get a personal loan?

Several places offer personal loans, and the best place to get a personal loan depends on your circumstances.

For example, if you have good credit, you may be able to get a lower interest rate at a bank or credit union. If you have bad credit, you may be able to get a personal loan from a payday lender or other short-term loan company.

Some online lenders also offer personal loans, which may be a good option if you need money quickly.

How to get a low-interest loan?

The best way is to have a good credit score, qualifying you for the best rates.

You can also try looking for lenders who offer low-interest rates or shop around for the best deal.

Be sure to read the terms and conditions of any loan before signing up to know precisely what you’re getting into.

Where to get personal loans?

Some options for getting personal loans include banks, credit unions, and online lenders. It’s essential to compare the interest rates and terms offered by different lenders to make sure you’re getting the best deal.

Which banks offer personal lines of credit?

Many banks offer personal lines of credit, including Bank of America, Chase, and Wells Fargo.

You can usually find information about these loans on the bank’s website or by speaking to a representative.

What is a good APR for a loan?

Generally, a lower APR is better because it means you’ll be paying less in interest over the life of the loan.

Larger loans typically have higher APRs than smaller ones, and longer-term loans generally have higher APRs than shorter-term ones.

What is the best personal loan company?

There are many of the best personal loan companies, but one of the best is SoFi.

They offer low-interest rates, no origination fees, and fast approval times. They’re also very flexible and will work with you to find a payment plan that fits your budget.

Plus, their customer service is top-notch. So if you need a personal loan, check them out!

What are the best ways to get a personal loan?

There are a few things to consider when looking for a personal loan:

What is the interest rate? What are the fees? What is the repayment schedule? Is the lender reputable?

It’s essential to shop around and compare interest rates, fees, and repayment schedules to find the best loan for your needs. You should also research the lender before applying to ensure they are reputable.

Can I use a personal loan for my business?

Many people decide to get personal loans to finance their business needs.

While this is not a bad practice (especially for newer businesses), getting a business loan will always be better if you want to invest in your business seriously.

Why? Well, small business loans will offer you bigger amounts that will allow you to really grow your business.

What are some alternatives to personal loans?

If you are looking for ways to finance a purchase or pay off debt, there are several alternatives to a personal loan that you may want to consider:

  • Credit card balance transfer
  • Home equity loan or line of credit
  • 401(k) loan
  • Peer-to-peer lending
  • Negotiate payment plans


Check if you
qualify for a loan