How it works
How Our Personal Loan Request Works
Four steps take you from one short request to lender offers you can compare, with you in control of every decision along the way.
Our service connects people who need a personal loan between $500 and $5,000 with lenders in our network. We are not a lender. You fill out one short request, we share it with lenders whose criteria may fit, and those lenders decide whether to make an offer and on what terms. Using our form is free, and you are never obligated to accept anything. Below is what happens at each stage, roughly how long it takes, and what stays in your hands.
Step 1: Submit one short request
Submitting a request takes about five minutes and asks for the loan amount, the purpose, your contact details, and basic income and employment information that lenders need for a first review.
You will choose an amount from $500 to $5,000 and pick a reason, such as a car repair, a vet bill, or combining card balances. The form then asks for your name, address, date of birth, email, phone number, and how you are paid. Some lenders also ask for the last four digits or full Social Security number to confirm your identity.
Tips for this step:
- Request the amount you actually need. Borrowing $1,500 instead of $3,000 can cut both the monthly payment and the total interest.
- Use your real income figure. Overstating it can lead to an offer that is withdrawn later during verification.
- Have a recent pay stub or bank statement nearby in case a lender asks for it.
Step 2: Lenders in our network review your request
After you submit, we pass your request to lenders in our network, and each lender reviews it against its own criteria, which can take anywhere from a few minutes to about one business day.
Each lender looks at factors like income, existing debts, credit history and the state you live in. Many lenders use a soft credit check at this stage, which does not affect your credit score, but practices vary, so read each lender's disclosure. Loan availability depends on your state, and not every lender serves every location. Submitting a request does not mean you will be approved, and some requests receive no offers at all.
Step 3: Compare offers and choose, or walk away
Comparing offers means looking past the monthly payment to the APR, the origination fee, the term and the total amount you will repay, then accepting only the offer that fits your budget.
Offers typically show an APR somewhere in a range of about 6% to 35.99%, with terms commonly from 3 to 36 months. Some lenders deduct an origination fee of 0% to about 10% from the amount you receive. As a representative example, borrowing $2,000 for 12 months at 24.99% APR works out to about $190.08 a month and $2,280.94 in total, an estimate that will differ by lender.
| What to compare | Why it matters |
|---|---|
| APR | Includes interest and certain fees, so it is the fairest single cost measure |
| Origination fee | Can reduce the cash you actually receive |
| Term length | Longer terms lower the payment but usually raise total interest |
| Total repayment | Shows the full cost over the life of the loan |
| Prepayment rules | Tells you whether paying early saves money |
You can run your own numbers with our personal loan calculator and check typical ranges on the rates page. If none of the offers looks right, you can simply close the page. There is no fee and no obligation.
Step 4: Finish with your lender and receive funds
Once you accept an offer, you complete the process directly with that lender, which verifies your details, sends the loan agreement for signature, and deposits the money, often around the next business day.
The lender may ask you to upload documents, confirm your bank account, or answer a few verification questions. After you sign, funding commonly arrives the next business day after approval, and sometimes the same day, though timing depends on the lender and your bank. From this point the loan is between you and the lender, so payments and account questions go to the lender, not to us.
Typical timing at a glance
Most people move from starting the form to having funds in about one to three business days, though every stage depends on the lender, your bank and how quickly you supply any requested documents.
| Stage | Typical time (estimate) |
|---|---|
| Completing the request | About 5 minutes |
| Hearing from lenders | Minutes to about 1 business day |
| Verification and signing | Same day to 1 business day |
| Funds in your account | Often next business day after approval |
What stays in your control
You control the amount you request, which offers you review, whether you accept any of them, and when you stop; no lender can finalize a loan without your signature on the agreement.
You can also ask a lender questions before signing, request a shorter or longer term if it offers one, and decline every offer if the cost does not make sense. For more questions, see our frequently asked questions or check whether you are likely to qualify on the eligibility page.
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One short request, no fee to use our service and no obligation to accept an offer.