The truth about personal loans.
A personal loan is an agreement between a borrower and a loan provider. A borrower receives an amount of money (called the principal) for their use now and they agree to repay that money plus interest at a later date or in installments.
Most personal loans are not secured by collateral like a car or a paycheck. A personal loan may be borrowed from a bank, a family member or an online lender.
Personal Loans are widely available in a variety of types from many different kinds of lenders. Some lenders specialize in bad credit loans or no credit check loans, others offer specific types of loans for certain purchases, which may be secured by collateral, like auto loans and home mortgages.
OppLoans is here to help if you find yourself considering:
- Bad Credit Loans
Taking out a bad credit loan is a major decision. Make sure you’re selecting a financial partner who wants to help you succeed today and in the future.
- No Credit Check Loans
Here’s everything you need to know about these potentially useful borrowing options.
- Installment Loans
Installment loans are typically the safest and most responsible way to borrow money.
- Debt Consolidation Loans
A debt consolidation loan may be able to improve your financial situation.
Ask the Experts:
|“Don’t sign a loan without knowing how much money you will owe in each period. For example, it’s easy to get excited about instant credit at a department store, but make sure you know what your minimum payment will be before you sign on the dotted line.” |
Ann Logue is a lecturer in finance at the University of Illinois at Chicago and a writer specializing in business and finance. She is the author of four books on investing in Wiley’s . . . For Dummies series and has written for Barron’s, Entrepreneur, and Newsweek Japan, among other publications.
|“Overdraft fees, late fees and interest on credit card balances, and payday loans will cost you money that you don’t have to begin with!!! And you have nothing to show for it in the end! I call these ‘avoidable’ expenses.”|
See how OppLoans offers a responsible alternative to predatory lending!
You deserve a better personal loan.
With lower rates and more personal service, OppLoans is your home for more affordable borrowing.
|99-199% APR!||400% APRs.|
|Terms up to 36 months!||2 week terms.|
|No prepayment fees!||Costly penalties.|
|No hidden fees!||Deceptive billing.|
|Improve your credit history!†||Designed to keep you in debt.|
OppLoans vs. predatory lenders.
- Payday Loans
Payday loans are dangerous, unsecured, small-dollar loans designed to trap borrowers in debt.
- Title Loans
Roughly one out of every five title loan borrowers lose their cars (data from ConsumerFinance.gov).
- Cash Advances
Types of cash advances can vary, but this is often just another name for risky payday loans (data from PaydayLoanInfo.org)
From offering higher loan amounts to better service, applying through OppLoans is the right choice.
|OppLoans||Payday Loans||Title Loans|
|Loan amount||$500 - $4,000||$350||$959|
|APR||99 - 199%||339%+||291%|
|Term||Up to 36 months||14 days||1 month|
|Ability to build credit history†|
|No collateral needed|
|Risk losing your car|
Quick and great customer service! Love it! Thanks OppLoans!
Nichole - Chicago, Il
No surprises and they are cheaper than those payday loans.
Mike - Clover, SC
The interest rate is much lower than other lenders I’ve tried.
Yvette - Lyons, IL
This is the best loan center out there!
Sasha - Columbus, OH
OppLoans is safe and secure.
Kelly - Marion, IL