websites of BBB approved businesses.
Personal Loans from BBB
The following list contains legitimate companies that offer personal loans and that have been accredited by the Better Business Bureau after meeting all their strict requirements.
If you’re looking for an unsecured loan from non-bank sources, the following websites are a great place to start your search. Borrowing money online is a fast and convenient option, but always keep safe by choosing a reputable lender to work with.
On some occasions, people find themselves in life scenarios where they need to borrow money for different reasons. It may be to make a large purchase, buy new home furniture, finance a long awaited vacation or even to consolidate other debt, including high-rate interest card debt.
They may be a good option to explore when you do not have assets to use for a secured loan or when you need a practical alternative to the traditional bank loan course of action.
A personal loan is any type of unsecured loan. Compared to a mortgage, which is backed by the value of a home, or a car loan, which is backed by the value of a car, lenders offer these unbacked, unsecured loans to those people who do not have an asset that can be used as collateral.
Also known as no-collateral loans, they can be a solution to individuals who need to borrow money but do not have anything to use as security.
Unlike other types of financial obligations, a personal loan provides the freedom to use the funds as needed.
Most of the time, the lender wants to know what the money will be used for, to make sure you are making a sound decision.
However, you can use the money to consolidate debt, make upgrades to your home’s infrastructure, or use it for almost any other purpose. People need this type of loan, both the short term and the long term version, because they do not have access to cash any other way.
Some people benefit from it more than others do. You may not need it if you can get a less expensive loan offer. However, if you cannot, it is a decent option to explore. It provides you with access to funds without needing to present collateral.
Additionally, since it is not backed by your home, if you do default, you do not lose any assets in the process. This can make it less of a risk to the consumer.
Choosing a BBB accredited organization can provide you with better peace of mind that you’ve made a good choice.