In a Nutshell
- Get personalized rates and terms in minutes
- Lenders competition creates competitive rates
- No rates without filling in personal information
- May receive many phone calls
EasyLoanMatch at a Glance
EasyLoanMatch is an online marketplace for personal loans. Its free search engine allows borrowers to compare terms and rates from its network of trusted lenders and lending partners. These lenders offer personal loans of up to $40,000 to cover large expenses such as medical costs, home improvement, vehicle repair, a dream vacation, and paying off credit card debt. Think of it as like Skyscanner or Airbnb: just as those websites allow you to compare flights or vacation rentals, EasyLoanMatch’s service makes it quicker and easier to compare loans between online lenders.
This service is right for Internet-savvy people who need a personal loan but don’t have the time or patience to search through every online lender or go down to the bank. As with any type of online lending platform, the better your credit score and financial status, the higher the likelihood of securing a personal loan with favorable rates and conditions.
Range of Loans on Offer
EasyLoanMatch partners with 7 lenders to connect borrowers with personal loans to suit their individual needs. The lenders are: Lending Point, OneMain Financial, Avant, Prosper, Payoff, SoFi, FreedomPlus.
Some of these lenders specialize in traditional bank-originated and instalment loans. Some, such as Prosper, offer Peer-to-Peer (P2P) loans: a newer type of loan that connects borrowers to investors at attractive rates and without any involvement from a financial institution.
EasyLoanMatch is not a direct lender, and it is ultimately up to the individual lenders in its network to decide the types and terms of loans they can offer you.
The Application Process
To get a free look at rates from participating lenders, simply enter the amount you’d like to borrow, click “Get started”, and then fill out the short online form. You’ll be asked to enter the following:
- Your credit rating.
- The purpose of your loan (from a choice of debt consolidation, emergency situation, auto repair, auto purchase, moving, home improvement, medical, business, vacation, taxes, rent or mortgage, wedding, major purchase, student loan refinance, credit card consolidation, or other.
- First and last name.
- Date of birth.
- Whether or not you are on active military duty or are the dependent of an active serviceperson. (If the answer is yes, it can help you to secure favorable terms).
- Mailing address, length of time you have spent at that address, and whether or not you own your home.
- Email address and phone number.
- Whether you own a car.
- Total monthly income, plus information on your primary income source, your employer’s name and contact details, the amount of time you have been employed, and how often you get paid.
- Social Security Number.
- Type of bank account (checking or savings).
Within a few minutes of completing the form, EasyLoanMatch will let you know if it was able to find a suitable loan provider and the terms. The lender or lenders will then contact you directly and take you through the formal part of the application process. It can take up to 48 hours for lenders to contact you, although some customers have reported being contacted within minutes of completing the EasyLoanMatch process.
The minimum requirements for getting a loan are usually credit score of at least 600, and income of at least $2,000 income per month.
Once approved, most of the lenders will deposit your funds into your bank account within one business day.
How Much Can You Borrow?
Lending partners offer loans of as little as $1,000 and as much as $40,000, although the exact range varies.
Loan length and APR vary between the different lenders, with terms ranging from 61 days to 84 months, and APRs starting at as low as 4.84% and no greater than 35.99%. With some of the lenders, rates can vary between residents of different states.
How Safe Is It?
All of EasyLoanMatch’s partners are well-known lenders that have provided loans to hundreds of thousands of American customers and provide detailed information about their security credentials on their respective websites. In order to get the most out of EasyLoanMatch, you will need to enter personal information such as Social Security Number that it will share with its lending partners. EasyLoanMatch states that it supports all provisions of the Federal Trade Commission’s Fair Debt Collection Practices Act. This means its partners must not call customers before 8:00 am or after 9:00 pm, must contact customers with intent to harass or annoy, and must not use deceptive practices.
Help & Support
To contact customer support, either fill in the simple contact form on EasyLoanMatch’s website or call 844-348-2965. Once you’ve been matched with one of its partnering lenders, the rest of the process will continue with that lender’s own support team.
EasyLoanMatch provides a free online platform that connects borrowers to the right personal loans to suit their individual needs from a network of 7 trusted online lenders. Its service is quick and easy to use, and it allows you to compare between different lenders in minutes and receive funds in as little as 1 business day.
11835 West Olympic Blvd., Suite 1090
Los Angeles, CA 90064.