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Category: Personal Loans

Whether you want an infusion of cash to cover a large purchase, or need help paying unexpected medical bills, you may benefit from taking out a personal loan. Because they are not tied to a single use, such as an auto loan or mortgage, they can be used in a seemingly endless number of ways.

However, their versatility is exactly why personal loans can be so confusing. No one’s financial circumstances are the same, and depending on your situation, taking out a personal loan may not be the best choice for you.

We understand how important it is to be well-informed about your financial options. That’s why we’ve created this resource center — so you can learn about personal loans and make the best decisions possible for yourself and your finances.

Is SoFi Legit?

A smartphone displaying the SoFi app.

SoFi is a financial lender that offers personal loans to consumers. They cater to borrowers who have high credit scores and need simple personal loans to pay off credit card debt, invest in home improvements, or to fund vacations and events. If you need a loan, it’s important to review the SoFi personal loan terms and […]

Cosigning: Understanding the Reasons and Risks

A man and woman talk to a financial planning consultant about cosigning.

For those who aren’t financially stable, it’s beneficial to have a cosigner to obtain a loan. If you cosign on a loan, it’s important to understand that your personal financial status could be at risk, especially if the borrower defaults on that loan. Learn more about what it means to cosign on a loan, the […]

What Is Predatory Lending?

A shady looking predatory lender.

Predatory lending is a malicious attempt that lenders make to take advantage of borrowers. With predatory lending, the lender persuades the borrower to enter into a lending agreement that only benefits the lender and generally sets the borrower up for failure, such as with a disproportionate interest rate or unreasonably long loan term. Most of these […]

How To Apply For a Loan From a Bank

A bank loan application stamped "Approved" and surrounded by cash and a calculator

Banks are trustworthy financial institutions — especially when it comes to the intimidating business of borrowing money. A good bank will have a solid track record and established processes and safeguards in place. This guide is designed to take you through the process of applying for a loan from a bank. It will help you […]

Bad Credit Business Loans for Startups and Small Businesses

A man sitting next to a smiling woman shakes the hand of another man wearing a suit in an office.

Starting a business is difficult enough, but the process can get even harder if your credit history is less than stellar. A bad personal credit score can have an impact on every aspect of your financial life for years to come — including your new or future business. It indicates that you’re a risky borrower, and […]

How Much Personal Loan Amount Can I Get?

A woman sits at a computer with a screen that reads "personal loan agreement."

If you think you need a personal loan, your first question may be, “How much loan can I get?” While it’s important to figure out exactly how big of a loan you can obtain from a lender, there are other factors you should consider as well. The loan terms, including the interest rate and length of […]