Hi, I need a $10,000 Personal Loan to manage my small business during these difficult Coronavirus times. And I wonder if I'd better borrow online to there're banks offering such Personal Loans. By the way, my credit score is not very good, about 600.
What banks do Personal Loans?
Last updated:
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Answers: 1
COMPACOM TEAM
Expert answer
Though online Personal Loans are really convenient and fast, you can consider banks and credit unions as well. Your credit score is one of the important factors determining your eligibility. But it's still possible to get approved even for bad credit borrowers which prove their US residence and income.
There're numerous lenders providing $5,000, $10,000, or even $35,000 Personal Loans online and in a bank. Among the best ones are:
Credible offers Personal Loans, Student Loans, Mortgages, Credit Cards and other money products at affordable rates with convenient repayment.
- MIN Loan Amount: $1000
- MAX Loan Amount: $100000
- Terms: Vary by state.
- Rates and fees: starting at 5.95% APR
- Turnaround Time: 1 business day
- Personal Loans
- Student Loans
- Student Loan refinancing
- Mortgages
- Mortgage refinancing
- Credit Cards
- Credit score of 640+
- An active checking account
- US residence
- Pros
-
- Apply once to get access to multiple lenders
- Quick funding within 1 -2 business days
- No additional fees
- Cons
-
- Not many lenders to choose from
- Not always available for bad credit
- Sometimes lenders may charge fees to borrow
PersonalLoans.com offers Installment Loans and Personal Loans up to $35,000 as well as other fast online cash advance.
- MIN Loan Amount: $500
- MAX Loan Amount: $35000
- Terms: Varied
- Rates and fees: 5.99% - 35.99% APR
- Turnaround Time: 1 business day
- Personal Loans
- Installment Loans
- Online Loans
- Fast Cash
- Tax Loans
- Payday Loans
- Debt Consolidation
- Minimum credit score of 580
- A valid bank account
- A regular source of income
- US residence
- Age over 18
- Pros
-
- A variety of lenders.
- Minimal restrictions on how you can use your loan.
- No collateral or guarantor.
- Easy online process.
- Cons
-
- It's not a direct lender, so you'll need to clarify rates and terms with the company you are matched with.
- Limited choice of lenders.
Experts recommend applying online to find out if you qualify and to check your rates. Only then you can choose the bank or other financial institutions and take their offer if it suits your needs.
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