How Our Loan Request Process Works
Our process has four steps: you submit one free request, lenders in our network review it, you compare any offers and loan agreements, and you sign and get funded only if you choose.
The whole process is built around one idea: you should be able to see real options before you commit to anything. We are not a lender, so we do not approve loans or set terms. We pass your request to participating lenders, and each lender decides on its own whether to make an offer. Loan amounts through our network range from $500 to $5,000, and terms often run from about 3 to 36 months depending on the lender and your state.
Step 1: Submit Your Request
The first step is completing our short request form with the amount you want, the reason for the loan, your income, and your contact and identity details.
Most people finish the form in about five minutes. You will be asked how much you would like to borrow, how you are paid, roughly how much you earn, whether you rent or own, and how lenders can reach you. Lenders also need identity details such as your date of birth and Social Security number so they can verify who you are and review your credit. Please enter accurate information, because mistakes can slow down a review or lead to an offer that changes later.
- Have a recent pay stub or benefit statement nearby so your income figure is accurate.
- Use an email address and phone number you check often.
- Choose an amount that covers the real cost, not more than you need.
Step 2: Lenders Review Your Request
Participating lenders review your request against their own credit, income and state rules and decide whether to present an offer, often within minutes but sometimes longer.
Each lender uses its own underwriting process, so one lender may make an offer while another does not. Lenders look at things like your credit history, income, existing debts and your state of residence. Some lenders may ask for more information, such as bank statements or proof of income, before they can finish a review. We do not see or control a lender's decision rules. If a lender wants to verify something, it will contact you directly.
Step 3: Compare Offers and the Loan Agreement
When a lender makes an offer, you can compare the APR, monthly payment, term, fees and total cost, then read the full loan agreement before deciding.
The APR is the best single number for comparing cost because it includes interest and most required fees. Also look at the total amount you will repay. For example, borrowing $2,000 for 12 months at 24.99% APR gives an estimated payment of $190.08 a month and an estimated total of $2,280.94, assuming no origination fee. Some lenders charge an origination fee of 0% to 10% of the loan amount, which raises the APR. Our personal loan calculator can help you test different amounts and terms.
Read the loan agreement carefully. Look for the payment due date, late fees, any prepayment penalty, autopay requirements and what happens if a payment is missed. If anything is unclear, ask the lender before you sign.
Step 4: Sign and Get Funded
If you accept an offer, you sign the loan agreement directly with the lender, and many lenders send funds as soon as the next business day by bank deposit.
Funding speed depends on the lender, the time of day you sign, whether more verification is needed and how quickly your bank posts deposits. Weekends and bank holidays can add time. After funding, your relationship is with the lender: you make payments to the lender, and questions about your balance, due dates or payment options go to the lender's customer service team. Setting up autopay, if the lender offers it, can help you avoid missed payments.
What Data Is Shared and When
Your request details are shared with participating lenders and service partners after you submit the form, so they can review your request and contact you about possible offers.
Information you enter on the request form, such as your name, contact details, income, requested amount and identity details, is sent to lenders that may be a match. Lenders and certain partners may contact you by email, phone or text using the details you provided, consistent with the consent you give on the form. We protect the data in transit using encryption and limit access to people and partners who need it. Our privacy policy explains how information is collected, used, shared and kept, and how to make choices about it.
Credit Checks: Soft vs Hard Inquiries
Many lenders start with a soft credit inquiry that does not affect your credit score, and a hard inquiry usually happens only when you formally apply or accept an offer.
A soft inquiry lets a lender see a summary of your credit to decide whether to make a preliminary offer. Soft inquiries are visible only to you and do not lower your score. A hard inquiry happens when a lender pulls your full credit report to make a final decision. Hard inquiries can lower a score by a few points for a period of time and stay on your report for about two years. Practices vary by lender, so check what kind of check a lender will run before you continue.
No Obligation to Accept
Submitting a request is free and does not obligate you to accept any offer, sign any agreement or pay anyone anything.
You can review an offer and decline it, or simply not respond. You can also compare an offer from our network with options from a local bank or credit union before deciding. If an offer has a payment that would strain your budget, it is usually better to borrow less, choose a different term or wait. There is no penalty for walking away before you sign.
How Long the Process Takes
Completing the form often takes about five minutes, lender responses may arrive within minutes, and funding can happen as soon as the next business day after signing.
Actual timing depends on several factors outside our control: how fast a lender reviews requests, whether it needs documents, when you sign, and how your bank processes deposits. Requests submitted late in the day, on weekends or on bank holidays may take longer. If you have a firm deadline for a bill, contact the creditor early to ask about extra time while you shop for a loan.
What to Do If You Do Not Receive an Offer
If no lender makes an offer, you can review your credit reports, lower the requested amount, add income details, or consider other options such as a credit union or a payment plan.
Not receiving an offer does not mean you will never qualify. Request free copies of your credit reports from Equifax, Experian and TransUnion and dispute any errors you find. Paying down revolving balances can improve your credit utilization over time. You might also ask a creditor for a hardship plan, contact a nonprofit credit counselor, or look into a small loan from a local credit union. Our guide to personal loan eligibility explains the factors lenders commonly weigh.
