What Is a Personal Loan?

Personal loans are versatile tools for larger expenses or structured repayment. Learn when they make sense and how they work.

Personal loans are versatile financial tools ideal for larger expenses or structured repayment. They come with longer terms, competitive rates, and usually no restrictions on how you use the money.

Why People Choose Personal Loans

  • Borrow $250 - $3,000 depending on your eligibility and lender.
  • Lower interest rates than many payday or short-term loans.
  • Higher loan amounts for bigger purchases or consolidating debt.
  • Predictable, fixed payments each month.
  • The potential to improve your credit with on-time payments.
  • Flexible usage across many different needs.

Common Uses for Personal Loans

  • Debt consolidation
  • Large purchases
  • Medical bills
  • Emergency needs
  • Home repairs or improvements

How to Qualify

While each lender is different, most look for:

  • Stable, verifiable income.
  • An active checking account in good standing.
  • A credit profile that meets the lender's minimum criteria.

Ready to start your application? It only takes a few minutes to request funds securely.