Best Rate Referrals
has announced it is expanding into the world of personal finance with the launch of Loan Advisor
, an online marketplace designed to provide consumers with simple and fast personal loan quotes from lenders for free. According to TransUnion’s Q4 2017 Industry Insights Report on the consumer credit market, there are more than 18 million personal loans in the U.S., which constitutes a 40 percent increase compared to 2014 levels.
“Growth in the personal lending space continues to show positive trends so the Best Rate Referrals team saw an opportunity to provide a different solution for consumers looking for financing beyond a mortgage loan with a platform that is also beneficial to the consumer finance community,” said Raymond Bartreau, Senior Vice Presdient of Lending Partnerships at Best Rate Referrals. “Increasingly consumers are tapping into personal loans to tackle big ticket projects and consolidate debt. From paying medical bills to financing a dream vacation, Loan Advisor offers borrowers a free and easy-to-use platform to shop rates and get an approval in one day.”
LoanAdvisor.com will serve as a one-stop shop to match consumers with lenders that best meet their financing needs for loans. Borrowers can connect with lenders to compare rates and choose the best loan. Loan Advisor displays offers for consumers with varying credit scores for amounts up to $35,000, and with approvals in as little as one day. Similar to its sister site, Mortgage Advisor, Loan Advisor will also offer of informational resources, rate comparisons and lender information.