Three Simple Steps to Getting a Personal Loan

By John Giannone | September 28, 2022 | As published on Linkedin here.

If you are seeking a personal loan, Feeasy® is here to make it as easy as possible. We bring over 50 lenders to one free loan comparison platform where you can browse and select a personal loan that works for you without affecting your credit. These loans can be used for home improvement, debt consolidation, and more. Additionally, Feeasy offers free, one-on-one support to borrowers through our program Concierge Premier™ which links borrowers with a dedicated service representative to answer any questions, explain how the platform works, and enrich their experiences.

Here are the three simple steps to getting a personal loan:

1. Check Your Credit Score:

Unsecured personal loans like the ones available through Feeasy are collateral-free, meaning the only assurance a lender has that you will pay the loan back is your word and creditworthiness. Given this, lenders will determine how much you are qualified to borrow based primarily on your credit score and factors like your income and current debt-to-income (DTI) ratio. The stronger these factors, the better the terms of the loans available to you will be.

Knowing your credit score before applying for a loan will be important in managing your expectations regarding what rates to expect and how much you will be qualified to borrow. Also, some lenders have minimum credit scores to qualify for a loan. If your score is lower than you expected, it may be beneficial to build your credit before taking out a loan to improve your rate. Additionally, adding a qualified co-borrower to your loan may be a great option to improve the terms of the loans available to you.

There are many free ways to check your credit score, including through Credit Karma and Experian.

2. Check Your Rate:

Checking your rate through Feeasy® is easy. Simply head to and follow the ‘check my rate’ prompts. Our application takes just a few minutes to complete and is done on a soft pull, meaning checking your rate and how much you are qualified to borrow will not affect your credit.

When you click ‘submit’ at the bottom of the application, you will instantly apply to all of the lenders on our platform, saving you the hassle of going from one lender’s website to the next to apply. Each lender will evaluate your qualifications using its algorithms, and Feeasy will present all of your pre-qualified offers on a singular offer page. Here you can compare all of the offers available to you and select which loan works best for you. Feeasy does not participate in decision-making and cannot guarantee that you will receive loan offers.

The vast majority of the lenders on our platform do not charge an origination fee or pre-payment penalty. However, you must review the terms of each offer before moving forward with one. Remember that if there is an origination fee, you will not need to go into your pocket to pay it. The lender will simply short-change it from your loan proceeds. For example, if you take out a $10,000 loan with a 1% origination fee, you will receive $9,900 and be responsible for paying back $10,000.

3. Pick Your Loan

Once you have found a loan that works for you, simply click ‘continue’ beside the loan offer, and Feeasy® will send you to the selected lender’s website, where you will finalize your loan.

The finalization process will vary between lenders, but you will generally need to prove your identity by submitting your driver’s license or passport and verify your income with documentation like a pay stub or W-2.

After submitting all requested documentation, the lender will conduct another evaluation and issue either final approval or denial. Sometimes the lender may readjust the amount they are willing to lend you. Generally, you will receive a final decision immediately, but it can take up to a few business days. If approved, you can have the loan proceeds sent directly to your checking account in as little as a business day. Remember that a hard pull will appear on your credit report once you have gone through this finalization process.

Ready to apply for a personal loan? Check My Rate

Feeasy® is here to assist you at no cost. If you have any questions about personal loans or would like to speak to a Feeasy representative, please reach out to us at: | 646-770-1456