My Honest Personal Loans Review – A Lending Broker




Interest Rates


Length of Time


Overall Satisfaction



  • Quick Application Process
  • Decision Within Minutes
  • Competitive Interest Rates
  • Transparent Website


  • Not available in every state

560 E 200 North, Suite 18
Roosevelt, Utah 84066

About is a lending broker based out of Roosevelt Utah. They are a member of the Online Lenders Alliance (OLA) an organization dedicated to protecting the consumer from any sort of lending fraud. This is our Personal Loans review. The company is a go-between for personal loan lenders and potential borrowers.

From their website

A personal loan is an online installment loan with loans sizes between $1,000 and $35,000. A personal loan can be a great option for those customers looking to borrow money for a wedding, home improvement, or family vacation. The online process is designed with customer convenience in mind.

Lending Amounts Interest Rates
$1000-$35,000 5.99%-depends on your credit

What do they charge? is free for the consumer. The lenders themselves pay to participate in their lender network which of course is factored into the interest rate that they charge you.

PersonalLoans lending requirements

  • Credit Score despite the fact that they advertise themselves as loans for any credit score they actually do have a minimum credit score of 580. Not to worry. If your score is lower than that can may still be able to get a loan through
  • Legal Status all applicants must be US citizens or legal permanent residents at the time of the application. An applicant must also have a valid social security number.
  • Age all applicants must be at least 18 years of age
  • Income they want to see that you’ll be able to pay back the loan. That means you must have full time employment, be self employed, or receive regular supplemental security insurance (SSI) or social security administration (SSA) benefits.
  • Checking Account an applicant must have a checking account in his or her name and able to receive an ACH deposit. This is necessary since the funds will be dispersed via an ACH deposit into your checking account.

Please check to see if their requirements have remained the same.

What types of personal loans do they offer?

As of the time of this writing offers three types of personal loans.

  1. Peer-to-Peer (P2P) Loans-These loans are taken directly from investors often for business purposes If you wish to take out a P2P loan you will need to list a good reason why you want the loan and they may ask how you plan to spend the money. You may borrow anywhere from $4,000 to $35,000 and there may be a loan origination fee of 1%-5% which would be deducted from the balance of the loan but still need to be payed back by you. The minimum credit score for this loan is 600 and a minimum verifiable income of $2000 per month
  2. Personal Installment Loans-These loans are just like they sound. You borrow money from a local company and pay them back in installments. The loans are highly regulated by the state from which they originated or the Indian tribal system. These loans have no origination fee but possibly a higher interest rate than a P2P loan. You must have a minimum income of $2000 per month and a minimum credit score of 580 to qualify for this type of loan. Each lender will have their own specific repayment process; meaning they may require monthy, bi-monthly, or weekly payments depending upon your financial situation
  3. Bank Personal Loan-Also just want it sounds like. This is a loan originating from a bank. If you apply for this loan online you’ll be directed to a local bank branch to complete the application. Most likely they will request verification of income, a government issued photo ID, and the reason why you want the loan. This is the longest process type of loan, however, this may give you the most favorable interest rate. The minimum credit score is 580 with a minimum verifiable income of $3000 per month.

What type of loan will depend on your situation, how quickly you need the money, your credit worthiness, how much you want to borrow, and how much in interest you are willing to pay.

Please check to see if these types of loans are still the same

How does applying for PersonalLoans affect my credit?

They initially do a ‘soft’ pull to see if you need their credit requirements and if it is determined that you do they will send your application to their interested lending partners who will then do a ‘hard’ pull on your credit.

These pulls may affect your credit score by 1-2 or more points.

The impact on your credit does depend on many factors such as; how many loans you’ve applied for, your debt to income ratio, your debt to available balance or ‘debt-to-limit’ ratio, and how long ago you last applied for a loan.

Frequently asked questions

Does Guarantee Approval?
No. As discussed above they do have requirements. Namely you must be able to demonstrate regular income and have a credit score of above 580
Does sell my information
Yes. Like all lending brokers they make money by selling your information as ‘lead’ to potential lenders. This is good for you, though, as you have more options to consider
Am I committing to take the loan offered once I fill out the application?
No, once you fill out the application they will connect you with interested lenders. At which point you may review their offers and decide which offer (if any) is the most suitable for your needs
Will I always get the amount I ask for?
No. The amount you will be offered depends on a number of factors but most importantly your credit score and income. The $35,000 is simply the maximum that you may apply for. A lender may offer a different amount based on your circumstances
Once approved how long until I get they money?
It depends on the lender and your bank. Funds are usually dispersed within 1-5 business days
How long does a decision take?
Typically you will know within minutes if you are approve or denied

More frequently asked questions

Can I apply over the phone?
At this time you may only apply online.
How can I repay the loan
Repayment of a personal loan is a very simple process. They work with lenders who have online systems available to take electronic payments and manage your account. All of their lenders have customer service agents who will to take your payment by phone. In addition you may pay automatically with an electronic funds transfer. Some of the lenders may even offer a discount for electing this option
What types of personal loans does offer
As of this writing they offer three types of loans peer-to-peer loans, personal installment loans, and bank personal loans.

Ben Jilani Author

I am a husband, a father, a failed vegan and company reviewer at your service!