Frequently Asked Questions

We have collected the most frequently asked questions for you. If you still have questions, feel free to call us (360) 605-1215 or send us an e-mail

General Knowledge

What is a personal loan?

A personal loan is an online loan with a short, fixed payment term and a fixed interest rate. These loans are not secured by any collateral, so they use your credit score to determine things like how much you can borrow and the interest rates you’ll pay. Unlike some other kinds of loans, a personal loan can be used for anything, but the amount you can get ranges between $100 and $50,000. This means they are best used for expenses that could throw off an otherwise well-planned budget. You can request a personal loan from from anywhere on any device.

What is the cost of obtaining a personal loan? does not charge a fee to use this website and does not determine costs. The terms of your individual loan will be made available by your lender, but some lenders charge an origination fee in order to obtain a personal loan. This fee ranges, but it is generally between 1% and 8% of the total amount of the loan. This means that for some lenders if you take out a $5,000 loan, they will charge an origination fee between $50 and $400. Not all lenders charge an origination fee, so check the terms with your lender.

What’s the difference between interest rate and APR?

Interest rate and Annual Percentage Rate (APR) are two different, but related measures. The interest rate is a more simple measure that will only show you what you pay when you borrow money. APR, on the other hand, is the total charges and fees associated with your loan. This includes the interest rate and things like origination fees. The basic difference is that interest rate only measures what you pay for interest, but APR measures the total cost of the loan. Since they are two different measures, they tell you different things. Interest rates will tell you about monthly costs, and APR will tell you about overall costs.

Will viewing my lending options affect my credit? will not do anything to your credit for checking your rates with this website, and most lenders we work with won’t either. Most lenders do a soft pull of your credit score to determine your amount and terms. A soft pull is when a lender checks your score without a full application to open a line of credit. Since you aren’t applying for anything on, this won’t have any impact on your credit score.


How fast will I receive my money?

How quickly you receive your money will vary depending on the lender, but you could receive your money in as little as a single business day. At, our goal is to find answers to your financial needs. That's why we work with lenders who can get you access to funds as soon as possible.

How much can I borrow?

Personal loans vary in size, but they can fall anywhere between $100 and $50,000. We want to see you succeed in all of your goals, so a better consideration might be how much you can reasonably pay back within the fixed payment term. Since is not a lender, we cannot determine how much funding you receive, but we do work with hand-picked, trusted lenders to help you find the funds you need.

How is my rate determined?

Since personal loans are not secured by collateral, your rates are determined by a combination of your credit score, how much you are borrowing, and your annual income. Of these, the main factor that determines your rate is going to be your credit score. The better your credit score is, the better your rates will be.


How do I qualify for a personal loan?

Since credit score is the most important factor for a personal loan, your credit score is the main thing that will qualify you for a personal loan. Other than that, a stable income and employment history will help ensure that you’re qualified. State regulations will also have an impact on how you qualify for a personal loan, so do some research first to see if you are qualified.

Can I get a loan if I live outside the USA?

Since personal loans require valid identification and a bank account, you cannot get a personal loan if you live outside the USA.

Do I need good credit to get a loan?

Some lenders will give you a loan even with a less than perfect credit score, but a better credit score will help you get a better interest rate. If you have a bad credit score, you may still be able to get a loan. Most lenders will accommodate a range of credit scores.

Am I eligible for a personal loan?

There are some general factors that a lender will take into account to determine your eligibility for a loan. Your credit score, employment history, and income are the major things that will determine your eligibility, but you’ll also need to be over 18 and have some valid identification and a bank account to be eligible for a personal loan. You can use to check your eligibility here.


Am I charged a fee for paying off my loan early?

Personal loans have a fixed payment term that usually lasts for a short period of time. When you’ve signed up for a personal loan, you usually also sign up to pay the loan off in that amount of time. Because of this, some lenders will charge an exit fee or prepayment penalty if you pay off the loan before the payment term is over. It’s always a good idea to read your paperwork carefully before you decide to pay a loan off early.

How do I make my monthly payment?

Check with your lender for all the details, but there will be a variety of payment methods available to you. You can probably work with your lender to find out what will be best for your individual needs.

How long do I have to repay my loan?

Depending on the terms of individual loans, you might have to pay anywhere between one year and several. Always check with your lender before you accept your loan so that you are aware of the length of the repayment term.

What happens if I default on a loan?

Unlike a home or car loan, a personal loan is typically not secured by collateral. That means you usually won’t have your house or vehicle repossessed if you default on your loan. However, defaulting on a personal loan can still be very expensive and can negatively impact your credit score. If you default, you might incur additional fees, your credit score will be lowered, and you will have a harder time qualifying for future credit. If you default on a loan while you are employed, your wages can also be garnished until the loan is repaid. Overall, defaulting on a loan is expensive, so it’s best to make sure that you can pay back whatever you borrow.

What happens if I’m late on making my payment?

Most lenders won’t count a late payment as a loan default. Check the terms of your loan for the information, but you will usually have a grace period for late payments. If you completely miss a payment you might be in trouble, but typically a payment that’s a little late won’t make a difference.


How does help me find a loan? connects people with information about personal loans that will work for them. We also offer a personal loan calculator that can help you out as you’re researching what you’ll need for your personal loan.

Who are the lenders that works with? works with a network of multiple lenders across the nation. This allows us to connect you with the funding you need.

Get more information by checking your rate on