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People may fall under the impression that personal loans are “bad.” Still, when you need some extra help financially and don’t necessarily want to use your emergency savings or get into credit card debt, then personal loans are a valid option.
LoansUnder36 is a loan matching service that connects borrowers with suitable lenders in almost all 50 states. Their network has over 100 vetted lenders, and you’ll be able to quickly compare side-by-side with no obligation with interest rates under 36% (like their namesake).
Since there can be a lot of companies that offer the same type of service, we’ll go over what you need to know to decide if LoansUnder36 is the right option for you.
LoansUnder36 At-A-Glance
| Borrow $500 up to $35,000 | Loans available regardless of credit status |
| No credit score impact when applying | Receive funds as quickly as next business day |
Is LoansUnder36 a Legit Company?
LoansUnder36 was launched in 2012 and is headquartered in New Jersey with another office in Santa Monica, CA. They offer quick, free loan applications for small personal loans up to $35,000. Since they’re a loan matching service, they’re not a direct lender, so your information will be shared with other lenders to find the best match.
It’s similar to when you use an auto insurance matchmaking service, except for loans.
LoansUnder36 doesn’t have a Better Business Bureau profile (BBB), but they are rated overall “excellent” on Consumer’s Advocate. Once approved for a loan, you can receive funds as soon as the next business day, making it a reliable option for emergencies.
What Can You Use Personal Loans For?
Most people use personal loans for debt consolidation but there are other use cases as well. The average loan amount that people take out is $10,000-$15,000, but LoansUnder36 can help you with up to $35,000 if you need it.
If you have any credit card debt under $35K, you can potentially save hundreds or thousands on interest rates by getting matched with a low-interest loan to pay off all your balances.
A personal loan can leave you with just ONE bill each month, making it easier to manage as well as benefiting from a lower interest rate. LoansUnder36 start at just 5.99% APR!
You can also use personal loans for
| Travel/Vacation | Home Improvement Projects |
| Medical Bills | Student Debt |
| Small Business Startup Expenses | Weddings |
| Divorces | Funeral Costs |
| IVF Treatments | Paying off other high-interest debts |
Personal loans do not have to be viewed as a last resort. Since there are so many different use cases for it, it can actually be a smart financial decision!
Use Personal Loans to Improve Credit
LoansUnder36 can find you loans regardless of your credit status, but the better your score is, the lower your interest rates can be.
Some users apply for a personal loan to boost their credit score first.
When you make on-time payments, you could see a significant point increase in your score. Some have seen up to a 40-point increase!
Then when your credit score is in the good range (670-850) after 6 months or so, you can apply again for another personal loan to potentially qualify for an even better rate.
Since using LoansUnder36 to check your options won’t affect your credit score, it doesn’t hurt to try, and you’re not obligated to accept.
How to Get a Personal Loan with LoansUnder36
To qualify for a personal loan, you must be a U.S. citizen, 18+ years of age, have a bank account, an SSN, and a steady source of income.
The free application form only takes a few minutes and in some cases, you’ll even receive options immediately with approved funds the next business day.
LoansUnder36 repayment periods are flexible ranging from 61 days to 72 months (6 years). But of course, the longer the period, the more interest it can accrue so plan accordingly!
When you need extra help financially and don’t want to use your emergency savings or rack up credit card debt, then applying for a personal loan is 100% a valid option.
