Most of WeLab's borrowers are individuals and small businesses who don't have enough established credit to take out
loans from traditional banks at a low interest rate and typically rely on friends and family or microloan programs instead.
Debt consolidation loans can come from various sources: you could take out a
personal loan from a traditional bank, credit union or other lender, use the cash from a home refinance, or from one of the debt consolidation companies that offers loans.
Remember, most people who get loans through Lending Club or Prosper do so because they can't get
a loan from a traditional bank.
When it comes to acquiring
a loan from a traditional bank, many business owners find themselves in a sticky situation due to the heavy requirements and long time frames to funding.
If your credit is bad, getting
a loan from a traditional bank and mortar financial institution, such as a bank or a credit union, is going to be difficult...
For example, they may have credit cards that charge a high interest rate, but their balance is not high enough to justify the cost and inconvenience of getting
a loan from a traditional bank.
Rather than going through the rigorous and often embarrassing process of applying for
a loan from a traditional bank or lending institution, many consumers have realized the value of choosing an Auto Title Loan.
These loans are often cheaper and easier to get than
a loan from a traditional bank, though you have to be a member.
It may also be difficult to acquire
a loan from a traditional bank for this type of property.
-LSB-...] difficult to acquire
a loan from a traditional bank for this type of property.
If you can't find
a loan from a traditional bank, there are a growing number of private lenders.