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How to get a personal loan online

By Edited Jun 24, 2015 0 0

Online lending sources are becoming more popular every day. Peer-to-Peer lending is one of the most popular lending sources online. It involves a website connecting the lender and the buyer in order to make everyone happy. These websites are widely available online but you should be weary of certain sites that offer unreasonable terms.

Things You Will Need

pen and paper

Step 1

Seek out Peer-to-Peer lending services. Peer-to-Peer lending has now become common practice on the internet. You can find these websites on search engines. These websites connect the lender and borrower for a low fee. It is completely legitimate and secure, but be aware of many sites who claim to be Peer-to-Peer sites but are scams.

Step 2

Seek out online lending sources. There are many lending sources which don't require that you have good credit, just a job and a decent amount of income. These online sites can be found everywhere, but be aware of scams.

Step 3

Get a Payday loan. Payday loans are not usually known for being an online lending source, but many people often get payday loans online. Businesses that offer payday loans often offer high interest rates and require that you prove employment and have a checking account. You might be required to do an interview over the phone and fax documents, but it's a way of getting money.

Step 4

Search forums. Online forums related to lending and getting a personal loan are commonly used by lenders to get business, they will often scan the forums for potential customers. The best part about using online forums is the fact that it's free. Go to a search engine and look for forums related to personal loans and lending. Sense most of these loans are done by individuals, it's imperative that you contact them in person.

Step 5

Review interest rates and repayment periods. After consulting with multiple online lending sources, compare the interest rates and repayment terms offered in each loan. Individuals will often charge a higher interest rate due to the risky nature of their business. Keep all this in mind when reviewing the potential lenders.

Step 6

Double check the lender you chose. Make sure to check with the Better Business Beureau website to identify scams. Some sites are listed on this site but are still legitimate, so keep an open mind when reviewing complaints. Some customers will get mad and make bad comments about completely legitimate companies.

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Tips & Warnings

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