Guide To Lenders 2024 Review
Guide to Lenders Overview
Since 2005, Guide to Lenders has offered a top rated peer-to-peer online marketplace to connect borrowers in need of personal loans with interested lenders. Our Guide to Lenders review will break down what you need to know about this company.
Applicants at Guide to Lenders receive multiple free loan offers based on their credit once they have filled out a fast and secure form. Guide to Lenders does not directly offer the loans themselves; instead, investors and lenders compete for your business by offering low, competitive rates.
If you are preapproved for loans through Guide To Lenders, you can compare the potential loan terms and choose the best loan offer for your situation. There is zero obligation to proceed with any offers.
Guide To Lenders Pros
- Large lending network: Guide to Lenders has a large online network of vetted lenders that cater to consumers with all types of credit. APRs start from 4.99%.
- A+ BBB Accredited: QuinStreet, the publicly traded parent company that owns and operates Guide To Lenders, is a Better Business Bureau (BBB) accredited business with an A+ BBB rating (as of January 23rd, 2020).
- Over $16 billion in loan requests initiated by consumers through Guide To Lenders
- Nationwide service: Guide to Lenders offers their services to borrowers in all 50 states.
- Get your funds in as little as 1 day from approval
- Fast and secure process: The application takes only a few minutes, and you'll receive free loan offers so you can transparently compare APRs and loan terms from multiple lenders. Guide To Lenders employs top of the line 256-bit SSL technology to encrypt your data for security.
- Focus on consumer education and empowerment: GuideToLenders aims to help consumers find the best loan for their purposes by providing free credit score access, as well as valuable articles and calculators on their site.
- Loans for all credit types: Borrowers with any credit score -- from poor to excellent -- can find loan offers through Guide to Lenders.
- Individuals can apply with a cosigner.
Guide To Lenders Cons
- Some consumers complained that Guide to Lenders advertised much more aggressively than other loan marketplaces by signing up borrowers to receive emails from other lenders and partners.
- The website has limited information.
How does Guide to Lenders work?
Guide to Lenders isn’t a direct lender. Instead, it works with a network of partner lenders to help match borrowers to lenders who work with customers that match their credit profiles.
When you visit Guide to Lenders’ website, you can start the application process. You’ll have to provide some basic financial information about yourself as well as details about the loan you’re looking for.
Guide to Lenders reviews the information you provide and chooses a few of its partners that it thinks will approve you for a loan. It then forwards your information to those lenders. The lenders can then send back a quote with interest rates and loan terms for you to review.
Once you’ve reviewed the quotes from a few lenders, you can choose which lender, if any, to move forward with. You’ll then go to that lender’s site to complete the application. If you don’t get a good quote, there’s no obligation to move forward.
Guide to Lenders offers one main type of loan: personal loans.
Personal loans are a type of highly flexible loan that you can use for almost any purpose. Guide to Lenders offers a few examples of why you might apply for a loan, such as:
- Consolidating debt
- Paying off credit cards
- Home improvement
- Starting a business
- Buying a car
- Unexpected bills
- Financial emergencies
- Special events
Though there are many different reasons to apply for a personal loan, your reason for borrowing won’t play a major role in the terms of your loan. You can expect similar interest rates and repayment options for loans for any of the above purposes. The primary factors influencing payment schedules and rates will be your credit and the amount you borrow.
How to Qualify for a Guide to Lenders Personal Loan?
Guide to Lenders doesn’t offer loans directly to consumers. That means it isn’t the one making the final lending decision after you apply. Instead, the company works with other lenders who are the ones that make the final decision to offer a loan.
Because Guide to Lenders isn’t the one making the call, they don’t have an explicit list of the minimum qualification requirements. However, the site does note that it works with lenders that cater to a wide variety of financial and credit profiles.
Like any time you apply for a loan, the most important factors in your approval odds are your credit score and financial situation.
In general, the higher your credit score, the better your chances of approval. Good credit can also help you secure lower interest rates for your loans.
Lenders will also consider your current debt and income. The less you owe and the more you make, the better your chances of qualifying for a loan.
How to Apply for a Guide to Lenders Personal Loan?
Applying for a loan with Guide to Lenders is pretty simple. The site uses a four-step process:
- Fill out a simple application. This form asks for basic details like how much you want to borrow, why you need a loan, your employment status, and your financial situation.
- Get matched to partner lenders. Guide to Lenders will send your details to lenders that it works with. Those lenders will look at your details and send quotes.
- Review loan quotes. You can review the different quotes you receive and choose the best loan based on the rates, fees, and repayment schedule.
Work with a loan consultant. This consultant can help walk you through your options and complete the final application with your chosen lender.
Terms & Requirements
Applying for a loan through the Guide to Lenders marketplace is a simple process and only takes a few minutes.
To qualify, you must meet a few basic requirements:
- You must be a US citizen
- Be at least 18 years of age
- Have a verifiable bank account
- Have a steady source of income
Guide To Lenders Pricing
- Consumers can receive no-obligation loan offers for amounts ranging between $100 and $40,000, depending on their credit score and loan purpose.
- Interest rates vary greatly by lender and credit type. Generally, APRs from Guide to Lenders partners will range from 4.99% to 35.99%.
- Term lengths range from 24 to 84 months.
For Whom Guide to Lenders is Good?
Guide to Lenders is a good choice for people that want to easily compare multiple loan options. It works with lenders that offer loans up to $50,000 and with rates as low as 2.49%, but also has partners that lend to people with poor or no credit.
That means that Guide to Lenders is a fine choice for almost anyone. People who have struggled to qualify with other lenders might benefit the most because one application will give them a chance of borrowing from dozens of lenders.
Guide to Lenders Personal Loan Alternatives
Guide to Lenders is just one of many personal loan marketplaces out there. If you’re in the market for a loan, you should consider some of these alternatives.
For consumers who want a free and no obligation tool for weighing their loan options, Guide to Lenders can provide just that. Their online lending marketplace allows you to shop for the best interest rates, loan amounts, and terms.
Additionally, they can also connect borrowers to mortgages and home equity lines of credit.
Contact Guide to Lenders
Email: [email protected] Address: 950 Tower Lane, 6th Floor Foster City, CA 94404
Frequently Asked Questions
How does Guide to Lenders compare to other lenders?
Rather than directly providing you a loan, Guide to Lenders is a 100% free service (from publicly traded company QuinStreet) that connects you to an online network of lenders who offer a variety of loan types that best fit your credit profile.
How do I qualify to receive a loan from Guide to Lenders partners?
Here are some of the requirements that Guide to Lenders lender network is looking for. Please note that meeting these requirements does not mean that you are guaranteed a loan.
- Be a US citizen
- Be at least 18 years of age
- Have a verifiable bank account
- Have a steady source of income
Is my information kept secure when I apply through Guide To Lenders?
Yes. Guide To Lenders uses bank level 256-bit SSL-encryption technology to protect your personal and financial information when you submit your application.
Will my credit score be affected by Guide To Lenders?
Guide to Lenders initially authorizes a soft pull on your credit (which does not damage your score) to check if you are eligible. However, your lender will most likely do a hard credit pull later on in the loan process, which does damage your score slightly.
**Is Guide to Lenders legit? **
Yes, Guide to Lenders is a legitimate company that helps match borrowers to potential lenders.
Is Guide to Lenders a direct lender?
No, Guide to Lenders doesn’t offer loans directly to consumers. Instead, it matches borrowers to its partner lenders.
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