A personal loan describes any loan where the money borrowed is used for personal purposes, such as debt consolidation, home improvement, paying off high-interest credit cards, a car purchase or a vacation. Most personal loans are unsecured, meaning they do not require collateral. Participating lenders may provide personal loans of up to $15,000.
An installment loan is repaid in scheduled payments over a set term. Participating lenders may provide installment loans of up to $5,000.
Cash advance loans are short-term loans designed to be repaid within a short amount of time, usually on your next pay date. Participating lenders may provide amounts between $100 and $1,000. Short-term loans are not a solution for long-term debt and credit difficulties: only borrow an amount you can repay.
Modern Lending Solutions is not a lender, loan broker or agent for any lender or loan broker, and does not make credit decisions. We offer a matching service for connecting potential borrowers with participating lenders. For details about a specific loan, contact your lender directly.