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A personal loan is an unsecured loan you can use to consolidate debt, pay for major expenses, and more. A personal loan allows you to borrow money from a lender for almost any purpose, typically with a fixed term, a fixed interest rate, and a regular monthly payment schedule. Collateral is usually not required and personal loans typically have lower interest rates than most credit cards.

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Since interest rates and loan terms on a personal loan are fixed, you can select a loan and payment amount that fits within your budget—which is great when you’re consolidating debt. Plus, you’ll know the exact date your loan will be fully paid off.

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Using a personal loan to consolidate high-interest credit card debt might even help you improve your credit score, by diversifying your credit mix, showing that you can make on-time monthly payments, and reduce your total debt.

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Consolidate credit cards

Refinance your credit cards with a personal loan—and know the exact date your loan will be paid off.

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Balance transfer

Lock in a lower APR and save time by paying creditors

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Debt consolidation

Simplify your debt—and your life—with a single monthly payment on an affordable, fixed-rate loan

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Home improvement

Start your home improvement project now, without waiting for a home equity loan or line of credit

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With business loans lenders and loan programs have unique eligibility requirements. In general, eligibility is based on what a business does to receive its income, the character of its ownership, and where the business operates.

 

Businesses must meet certain standards. be able to repay, and have a sound business purpose. Even those with bad credit may qualify for startup funding. The lender will provide you with a full list of eligibility requirements for your loan. 

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Protect yourself from predatory lenders by looking for warning signs. Some lenders impose unfair and abusive terms on borrowers through deception and coercion. Watch out for interest rates that are significantly higher than competitors’ rates, or fees that are more than 5% of the loan value. Make sure the lender discloses the annual percentage rate and full payment schedule. A lender should never ask you to lie on paperwork or leave signature boxes blank. Don’t get pressured into taking a loan.

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Revenue-Based Financing
Fast and flexible financing for your business

Fast funding that works for your business

Term Loans with fixed-rate financing for eligible customers

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Working Capital

​Like seasonal financing, export loans, revolving credit, and refinanced business debt

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Fixed Assets

​Like furniture, real estate, machinery, equipment, construction, and remodeling

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Business Start Ups

If handled properly, taking out a loan to launch a business can be a good move. Compared to depending only on personal savings, it helps you scale more quickly by providing the funds required to pay startup expenses like inventory, equipment, and marketing

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