How Our Personal Loan Request Works

Preparation takes a few minutes and makes everything after it faster. Gather your photo ID, recent income details and the routing and account numbers for your checking account.

Decide how much you need and what monthly payment fits your budget. Our personal loan calculator estimates payments for $500 to $5,000 at any term. Requesting the smallest amount that solves the problem improves your chances and keeps costs down. If your address or name changed recently, have a document that shows the update, such as a utility bill.

The request form takes about five minutes. You enter the amount, purpose, contact details, income and bank information, and the form sends it securely to lenders in our network.

Requesting is free and does not commit you to anything. Most lenders prequalify with a soft credit inquiry, which does not affect your score. Use your details exactly as they appear on your ID and bank account to avoid verification delays. You can start on the apply page.

Lenders review your request, often within minutes, and any lender that wants to lend shows you an offer. Each offer names the lender and lists the APR, fees, amount financed, payment and total of payments.

Compare offers by APR and total of payments first, then the monthly payment and term. Check that the lender is licensed in your state. If no offer appears, the lender's notice explains the main reasons, which you can address before trying again. Our rates guide helps you judge whether an offer is fair for your credit range.

If an offer fits your budget, accept it and sign the lender's agreement electronically. At this point many lenders run a hard credit inquiry and complete final verification of income and bank details.

Read the whole agreement before signing, including late fees, prepayment terms and the first due date. If anything is unclear, ask the lender. You are never obligated to accept, and declining costs nothing.

After final verification, the lender deposits the money, often within one to two business days and sometimes the same day. You then repay the lender in fixed installments on the agreed schedule.

Set up autopay for the day after your paycheck arrives so payments are never late. If your situation changes, contact the lender before a payment is missed; many offer hardship options. Paying early usually saves interest because most personal loans have no prepayment penalty.