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What Is a Personal Loan? How It Works

Credit Corp

A personal loan is money borrowed from a lender that can be used for almost any purpose, from debt consolidation to home improvement projects. A personal loan is money borrowed from a bank, credit union, or other financial institution that can be used for virtually any personal expense. What Is a Personal Loan?

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What Is a Personal Loan?

Better Credit Blog

Personal loans are installment loans offered by a bank, credit union, or other financial institution to an individual borrower. Consolidating Debt. Personal loans can help with debt consolidation. Consolidating your credit card debt with a personal loan, for instance, can score you a lower interest rate.

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Best Personal Loan Companies of 2022

Better Credit Blog

They’re great for credit card debt consolidation, home improvement projects, major car repairs, or any other cash-heavy project. You can also borrow for just about any purpose: education, home improvement, debt consolidation, recreation, and even secured auto loans. Marcus by Goldman Sachs.