7. Home Equity Line of Credit Loans
Borrowers have the option of shopping for the best offers. Once the borrower selects a loan, the lender completes the loan. The loan aggregator earns money from lending partners.
4. Fiona
Fiona refers to itself as “finance made friendly.” This online lending marketplace partners with well-known lenders such as Marcus by Goldman Sachs, SoFi, Acorns, and PenFed Credit Union, to name a few.
Further, they offer more products, such as credit card comparisons, compare savings account comparisons, and student loan refinanced quotes. The student loan refinance process is very similar to the personal loan process.
5. MoneyMutual
Since MoneyMutual is a loan aggregator, it does not have detailed criteria. However, it does not require employment for the basic qualifications. On the other hand, it does require a valid checking account and at least $800 per month in other income. Individuals with bad credit are welcome.
MoneyMutual’s application process takes about five minutes, and no fees are associated with the application. Typically, results are within minutes. You are not required to accept any offer and have the option of reviewing your loan terms. You will be provided with your monthly payments, the length of the loan, and how much it will cost you in total.
MoneyMutual primarily focuses on short-term loans, but you may be offered an installment loan, a line of credit, or a title loan. If you are offered a loan that meets your needs, you will be directed to the lender’s website.
Funds are usually distributed within 24 hours. Some of the lenders that partnered with Money Mutual offer a renewal policy when the repayment period needs to be extended.
Peer to Peer Lending Networks
Peer-to-peer lending networks connect investors with borrowers, and investors of these networks are more willing to assume higher levels of risk. Those with bad credit or unemployment generally have higher approval odds than with a direct lender.
The process to borrow is 
the same as any other loan. Peer-to-peer lending networks will check eligibility using a pre-qualification tool. You can select your loan amount and purpose in the pre-qualification form.
Next, you will be provided with an APR and loan terms that you might qualify for. Either way, outstanding balance vs. principal balance, peer-to-peer lending networks are an option for balance paydown.
Some peer-to-peer loans are specifically for small businesses. Again, you will need to do your own research to ensure you are applying for a loan that you are eligible for.
Since multiple lenders review applications, these loans may take longer to process and approve, so be prepared to wait up to a week. There are origination fees with peer-to-peer loans, which are between 1% and 8%.
6. Upstart
They offer pre-approval on their website, which results in a soft inquiry, and does not affect your credit score. A hard inquiry will only occur when you proceed with the application, only to verify your information. Up to 70% of applicants are approved for a personal loan with Upstart.
Not only that, Upstart personal loans range from $1,000-$5,000, but some states restrict the loan amounts. They boast a fast turnaround, as quickly as the next business day.
Traditional Loan Alternatives
A home equity line of credit, or HELOC, is also considered secured credit, as your home serves as the collateral. The lender performs a simple calculation, subtracting the balance of your mortgage from the amount your property is worth.
A HELOC could be considered a revolving credit facility since you can borrow up to a certain amount, and if approved, a small percentage of the loan is immediately disbursed. The remaining funds are released once you have repaid your loan.
