Unsecured Personal Loans

How It Works

Unsecured Personal Loans Benefits

Unsecured personal loans are loans that are approved without the need for collateral. Instead of pledging assets, borrowers qualify based on their credit history and income. Lenders do not have the right to take physical assets (such as a home or vehicle) if borrowers stop making payments on unsecured loans.

These loans are also known as “signature loans” because your signature on the loan agreement is all that you bring to the table. You promise to repay, but you don’t back up that promise by pledging collateral. “Personal” loans, available from banks, credit unions, and online lenders are unsecured loans you can use for any purpose you want.

Types of Personal Loans

Whether you are looking to pay for your vacation, moving expenses, medical expenses, engagement ring, wedding, car repair or house renovation, we make it easy to apply for a personal loan.

Approval

Getting approved for a personal loan depends on a number of factors. The most important is your credit score & credit history, and your current debt load relative to your income (also called your Debt to Income Ratio). Every lender will have different rules for who gets approved and for how much. Please keep in mind that just because a lender has a minimum score, there is no guarantee that everyone above that score will be approved.

OUR FEES:

NO Upfront Fees
One Time Backend Success Fee of 10%

PERSONAL FUNDING REQUIREMENTS

⇒ 680+ FICO (740 is preferable)
⇒ At least $60,000 in annual W2 income ($150,000+ is preferable) or $75,000 in 1099 NET income personally AFTER deductions
⇒ 1 Existing Installment Loan (prefer $25,000 or higher) that is a minimum of 2 years old that’s been recently paid off or are making payments on (Vehicle Loan, Mortgage, Personal Loan)
⇒ Minimum 5 year Credit History
⇒ No Derogatory Items, No Judgements, No Late Pays, Bankruptcies or Tax Liens Showing on the Credit Report
⇒ 5 Inquiries or Less Per Each Credit Bureau
⇒ 1 MAJOR Revolving Credit Card with a Limit of at least $5,000 ($7,000 or higher is preferable) with 30% or less current utilization