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Personal loans, student loans, home loans, and loan refinancing are all part of SoFi's lending services. [94] In 2015, four years after its launch, SoFi had over $6 billion in loans issued, becoming one of the largest marketplace lenders. [95] They continue to maintain a policy of no fees for their loans, aside from the interest. [citation needed]
SoFi began in 2011 as a student-focused lender but has since expanded to offer personal loans and other banking services. LendingClub was founded in 2006 as a peer-to-peer lending platform.
While searching for a personal loan, you may come across PenFed and SoFi — two lenders that offer loans with competitive rates. Founded in 1935, PenFed is a federal credit union that serves ...
SoFi members (anyone who uses a SoFi product, like Money), get exclusive benefits like member-only events and member rate discounts on SoFi loans. Personal Loans: Apply for a personal loan for ...
In 2020, SoFi originated $2.6 billion in personal loans compared to $4.9 billion in student loans. Recognizing the need for change, SoFi shifted its focus to personal loans.
Laurel Road and SoFi are online lenders that offer personal loans with similar competitive APR ranges. Established in 2013, Laurel Road is a digital banking platform that offers various financial ...
A personal loan is money that you borrow to cover a one-time expense. The most common reason people use personal loans is to pay down high-interest debt, thanks to their relatively low interest ...
For example, SoFi offers personal loans with approval decisions in as little as one or two business days and funding within three business days. ... Slower loan processing.