San Francisco, CA -- (SBWIRE) -- 12/01/2014 -- Personal Loan Lenders are Stacked Up and Measured with New Criteria
TheBestCompanys.com takes a deeper look into what makes the best personal loan providers
Personal loans continue to become a more viable solution. TheBestCompanys.com (TBC) reviewed and compared each personal loan lender a few months ago, but as the industry changes and lenders provide better value, it was time to take another look at each company.
"Personal loans are getting more competitive and offer more solutions to consumers," TBC's Bryce Morgan said. "There is an increased push to consumers to end credit card debt and using personal loans to help close out your credit cards."
TBC reviewed Lending Club, Prosper, Upstart, Springleaf, NetCredit, Amone, AvantCredit, OneMain Financial, and FreedomPlus.
The updated criteria used in the reviews are as follows:
-Maximum loan amount
-Better Business Bureau grade
-Other factors including approval process
After the rankings were updated on the new criteria, Upstart was named the new number one choice for personal loans. Lending Club came in at second place followed by the newcomer FreedomPlus at third.
Upstart has an increased focus on providing a simple personal loan process to help consumers eliminate and consolidate debt. The information made available by Upstart coupled with their great rates and sensible solutions helped them jump in our rankings to the top of the list.
TBC continues to monitor these companies, as well as reviewing other personal loan providers to provide a transparent view into personal loans.
TBC believes in the the customer and real customer reviews because honest reviews put the customers' needs first. Customers should feel confident in decisions they make when choosing a lender for their personal loan needs. It is their money and they should know where they are spending it.
For more information regarding personal loan companies, visit http://thebestcompanys.com/loans/
TheBestCompanys.com creates honest and accurate reviews for companies. The TBC team's extensive research, expert criteria and real customer reviews provides honest ratings of companies.