People can apply for personal loans online at the websites for Earnest Operations, Social Finance and Lending Club, as of 2015, notes MagnifyMoney. People shopping for online personal loans should apply with several lenders to find the best rates, as applying doesn't negatively affect credit scores.
Earnest Operations provides online personal loans to consumers based on education history, current and past incomes, saving and debts, and employment background, notes the company. While the lender approves some applicants within a few days, others must send additional documentation. After approving a loan, Earnest Operations deposits loan amount directly into the applicant's bank account.
Social Finance, or SoFi, offers pre-approval of online personal loans with no fee and no obligation to consumers to accept the loans, and it allows applicants to sign electronically and receive their funds via wire transfers, states the company. It offers live customer service seven days per week, and a plan that allows consumers to pause their payments if they become unemployed.
LendingClub offers online personal loans to cover expenses such as student loans, major purchases, vacations, medical expenses and relocation, notes the company. LendingClub assigns interest rates for personal loans based on factors such as credit scores, loan amounts, loan terms, credit usage and credit history.