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Personal Loan Lenders - New Technology Helps Consumers Turn Tables On

What was once an oligopolistic market where loan providers dictated terms has now been transformed into a consumer-centric environment

DETROIT, Jan. 4, 2013 /PRNewswire-iReach/ -- Until recently, onerous interest rates, unfriendly fine print, stringent credit requirements, and high pressure sales tactics characterized an industry dominated by large loan sharks. Consumers were offered few choices and red tape made a bad situation worse, especially for those in need of emergency financial assistance.

(Photo:  http://photos.prnewswire.com/prnh/20130104/CG36374)

George, a savvy businessman, describes his experience with traditional lenders and even government agencies as being "rather frustrating." George was faced with an emergency need for working capital. After several unsuccessful attempts with local lenders, he took his search in a new direction. Within twenty-four hours of completing a simple form at Personal-Loan.com, a site providing free personal loan quotes, George's inbox was beeping with responses from eager lenders.

"We believe in empowering consumers with choices. When multiple personal loan companies compete for a single consumer's business, the equation is reversed in the applicant's favor," says Lisa Stinson, Director of Personal-Loan.com.

Lisa, who is the brains behind Personal-Loan.com, shares her game-changing strategy. The secret, according to her, is "relationships with several lenders." Lisa and her team of personal loan professionals focus on developing relationships with multiple lenders and negotiate the best rates and loan programs possible so the site's customers can benefit. "We have created a powerful technology platform that allows clients to obtain personal loan quotes from lenders within seconds," adds Ms. Stinson.

The head of Stinson's research team, Mark, explains how individuals with bad credit stand to benefit from newer loan programs. "When a consumer completes a personal loan application, our technology matches the request with a lender specializing in serving individuals in a similar situation. As a result, we are able to match both lenders and loan applicants with extreme precision. An individual with bad credit would thus be contacted by lenders who specialize in serving the niche," says Mark. "We even have lenders who skip the credit check completely," adds Mark.

"Unlike traditional loans, the advantage of a personal loan is that one is free to use the funds for a variety of needs, from medical emergencies to car repairs," adds Ms. Stinson.

"Services such as Personal-Loan.com are a blessing in tough economic times," says Jill.

As lenders ease the flow of money, more and more consumers are getting much-needed financial assistance and Personal-Loan.com facilitates the process even further. Just one simple application does the trick. "We are seeing a dramatic improvement in the number of approvals," says an excited Stinson.

For further information on Personal-Loan.com and its various programs for bad credit personal loans, visit www.Personal-Loan.com

Media Contact: Lisa Stinson, personal-loan.com inc, 305-942-8085, [email protected]

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SOURCE personal-loan.com

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