To manage personal loans on terms and conditions you can afford is not always easy. The bank demands a healthy credit score and various payday lenders charge high-interest rates. Online peer to peer lending platform such as crowdfunding-platforms has come as a respite in unsecured consumer lending space.
Peer to peer lending sites that provide fast, affordable and secure forum offers you the loan with low-interest rates and/or better loan terms. Another interesting feature of social loans is that the interest you pay benefits a real person and not an impersonal financial institution.
However, there are some guidelines to help you get a loan at a rate that is competent and structured somewhat closer to your needs on peer to peer lending websites.
Browse online for a good loan proposition-
Go through the loan market from various social lending sites online to see the current loan interest rates. It might get you a better rate or terms, or both. Sometimes, a smaller loan forum and a newly established may provide a better deal for your money.
Humanize your profile-
Personalize your profile by adding a picture or write a picture of your pen. It might help to lend authenticity to your profile, based on community connections and no credit score. You will get a better response from other users as a real person.