Category Archives: Online Personal Loans

A personal loan is a loan that is used for personal expenses, as opposed to business. Due to advancing technology, it’s no longer necessary to visit a bank to take out a personal loan. Now, potential borrowers can start the personal loan request process right from their own home, on a smartphone or computer.

There are many different types of personal loans, and the specific terms of any given loan might vary based on the loan amount that was requested the timeframe of payment, and the qualifications of the potential borrower.

Many potential borrowers have faced the unfortunate reality of getting declined by a bank. Fortunately, with online lenders available, the bank is not the only option when it comes to requesting a loan. Some online lenders may require borrowers to have an active bank account, but that doesn’t mean that you’ll need to stand in line at the bank. In fact, one of the advantages of requesting a loan online is that it can be done right at home, at a time that is convenient for the borrower.

For borrowers looking for personal loans with no credit check whatsoever, they may be out of luck. It is virtually impossible to find a personal loan lender that offers loans with no credit check, but don’t be discouraged. Many personal loan lenders are more than willing to work with potential borrowers who have bad credit.

Requesting a Personal Loan

Thanks to modern technology, it’s now easier than ever to request a personal loan from the comfort of home, on a smartphone or computer. Gone are the days when going to the bank was the only way to get some extra cash into your bank account. Now, in addition to personal loan storefronts, there are a number of lenders operating primarily online who are willing to offer loans to qualified borrowers, even those with less than perfect credit.

If the idea of waiting in line at the bank has scared you away from requesting a loan in the past, or if your busy schedule simply doesn’t allow you to visit a bank during their working hours, now there is an alternative in the form of online lender networks. Of course, we are not a lender ourselves, but we work with many lenders in our network who may be willing to offer personal loans even to bad credit borrowers. Getting started is as simple as filling out our easy online form!


Your credit score isn’t the only factor that a lender might look at when determining whether or not to approve your loan request:


Lenders want to know that potential borrowers are who they say they are. If you think about it, this is not an unreasonable request. If you were to borrow money from someone, you’d likely want to know that their identity is legit. For this reason, some lenders may ask to see a state-issued ID, a driver’s license, or a passport, or another acceptable form of identification to verify potential borrowers.

Proof of income

To help lenders assess the risk of potential borrowers, one of the things they tend to ask for is proof of income. Don’t be alarmed if you aren’t employed. Having proof of income isn’t the same as having a job. Borrowers only need to show that they have some source of revenue coming in regularly. The point of this qualification is so lenders can better assess the likelihood of a potential borrower actually being able to pay back the loan at the agreed terms.

Social Security number

Some lenders may ask potential borrowers to provide their Social Security number. This is perfectly normal, and it’s merely a way for the lender to further identify the potential borrower’s identity.

Checking account

Most personal loan lenders will likely need to see that a potential borrower has an active checking account. One of the reasons for this is that, if the borrower is approved, the lender may deposit the funds directly into their bank account. Obviously, for this to work, there needs to be a checking account in good standing, which is one reason why lenders may ask to see this information from potential borrowers.

Proof of residency

Some states have different laws regarding personal loans than other states. So for online lenders, who may operate across multiple different states, it’s important for them to get proof of where a potential borrower lives. The borrower’s location may affect the type of loan terms that are legally allowed to be offered, so it’s an important piece of information for lenders to collect.