What Is the Easiest Place to Get a Personal Loan?

When it comes to personal loans, there are multiple places from where you can acquire one. Banks, online lenders, credit unions, and personal loan apps. 

If you are wondering “What is the easiest place to get a personal loan”, it actually depends on a number of factors. These include your monthly income, your credit score, and the lender’s eligibility criteria. But some places make it easier for you to acquire loans.

In this guide, we will help you find the places that have the most lenient loan approval criteria. So read on.

What Is the Easiest Place to Get a Personal Loan?

1. Online Lenders

Online lenders don’t usually have a physical presence. Therefore, they are faster than traditional banks. They have a smooth application process that ensures quick approval. 

What’s more, unlike traditional banks, online lenders have a very easy criteria process. They even accept bad credit scores and offer bad credit loans to anyone in need.

Cash in Minutes offers personal loans with same-day funding. When you apply for a loan online, they will get back to you with a decision within a few hours and process the funds the same day. They even accept bad credit. You can apply online or visit one of their six locations in Utah.

2. Banks

Nearly all banks offer personal loans. However, some have stricter requirements than others. If you already have an account in a bank, they make it easier for you to get a personal loan. For instance, if you are an existing customer of Wells Fargo, they will approve your personal loan quickly.

Citibank also has fast loan approval times and even allows pre-qualification so you can determine whether you meet their criteria without having any effects on your credit score.

3. Credit Unions

Financial institutions like credit unions also offer personal loans with easier loan terms and low interest rates. They will look past your credit score and review your overall financial standing and situation when deciding. 

There are many credit unions that offer easy personal loans, such as Alliant Credit Union, and Navy Federal Credit Union.

4. Personal Loan Apps

There are many smartphone apps offering personal loans with easy application processes. These apps offer smaller loans that can be obtained quickly and conveniently as very little paperwork is required.

One of these apps includes Earning, which offers small cash loans with no hidden fees. You can also check out Dave, that charges no interest for lending small amounts.

5. P2P Lending Platforms

Peer-to-peer (P2P) lending platforms are like middlemen that connect borrowers with individual lenders or lending institutes. Since these platforms are experienced in catering to a variety of clients, they can help you find a flexible deal with an easy online loan application process.

For instance, you can use Funding Circle to get both personal and business loans with quick funding times. You can also reach out to Prosper to pre-qualify for a loan that meets your needs.

How to Get a Loan Easily?

There are also a number of steps you can take as a borrower to acquire a personal loan easily.

These include:

• Improving your credit score.
• Consider enlisting a co-signer.
• Providing a complete application form with accurate information.
• Applying for a loan online.
• Getting pre-qualified.

Conclusion

So that’s all, folks! Now that you know the answer to “What is the easiest place to get a personal loan”, we hope you can easily find a loan that meets all your needs. Online lenders tend to be the most lenient when it comes to personal loans. 

So we suggest that you apply for a personal loan online to save both your time and effort and get the best interest rate with instant funding. Even if you have a bad credit score, don’t let it discourage you. Apply and wait for a decision from your lender. 

Good luck!