What personal loans are available to people with excellent credit?
Excellent credit opens the doors to just about every borrowing option out there.
- Unsecured personal loans. Unsecured personal loans can be used for just about any legitimate purpose, and don’t require collateral of any sort. Some can even have maximums that run upward of $100,000.
- Secured personal loans. A lender may be willing to lower the interest rate on a loan if you’re able to offer up collateral. This will give the lender “insurance” by having something of value that can be collected in case of a default.
- Auto loans. Buy a new or used car or refinance an auto loan you already have.
- Peer-to-peer loans. Lower rates, flexibility, quick turnaround and fewer fees are some of the benefits that come with borrowing from an investor through an online marketplace, rather than a traditional bank.
- Startup loans. Make it through the first five years by having a plan and the money to fund your new business venture.
- Business loans. Already have an established business? Take the opportunity to grow your business with a little extra capital. Buy equipment, renovate a storefront or expand your business using the funds from a business loan.
- Debt consolidation loans. If you have open balances in several different places, you may be able to get them all under one loan — possibly with a lower interest rate.
- Pet care loans. Keep the four-legged, feathered or scaled members of your family healthy with funds to pay vet bills or buy medical supplies.