In this digital era, nearly everything goes online, including applying for loans. It is now so easy to find a finance company online.
With it, there is no need for you to visit the office or local branch to apply for a loan. You can do the steps online, from filling out a loan form, checking the interest rate, to getting quotes.
Just like other finance companies, an online finance company can also be used for various purposes, such as student loans, auto loans, commercial loans, and so on.
In this article, we provide you with a list of the most recommended online finance companies that you can consider.
If you have a good credit, SoFi is the best overall online financial company. It offers an incredibly low minimum Annual Percentage Rate (APR) as well as flexible loan terms and amounts.
It also has no origination fees, late fees, or returned payments, making it a great option for borrowers with good credit.
SoFi is an online lender that offers higher loan amounts than most lenders. They offer from $5,000 loans to $100,000 loans.
While for the minimum loan amount, it may vary depending on the state. It also allows you to choose repayment terms of 24 months to 84 months.
Note that the longer you take to pay, the more interest you have to pay as well. This online financial company also delivers loans more quickly. It offers same-day funding for eligible borrowers.
Upgrade is an excellent choice for borrowers with poor credit. Unlike some bad credit financial companies, this one provides relatively affordable loans with generous terms and facilities.
For example, low Annual Percentage Rate (APR), some discounts, and extra time before payments are counted late.
Borrowers with poor credit typically get higher interest rates. But Upgrade allows co-signers to help you eligible and/or get a better rate.
The minimum loan amount that this finance company offers is $1,000, which is one of the smallest loan amounts that most online lenders offer.
While the maximum loan amount is $50,000. Small loan amounts are beneficial since you do not need to borrow more money than you need. Just like the previous option, Upgrade offers repayment terms of 24 months to 84 months.
Those are some recommendations for a finance company online. Each one has its own pros and cons. Choose the one that meets your needs and preferences.