Benzinga's Personal Loan Methodology

Benzinga’s personal loan reviews make it possible for anyone to find the financing they need for any of life’s little moments, emergencies, projects or dreams. Remember, you are looking at the minimum credit score you need to qualify for a loan, interest rates and much more. 

When you pull all these factors together, you may also look over online application opportunities, mobile apps, reviews, complaints, fees, contact methods and even use cases for these loans before making your decision. Powered by this information, you can choose the best personal loans for your family, improving your financial situation and emboldening you to dream big for the future.

Meet the Reviewers

Sarah Horvath

Sarah Horvath is a financial writer located in New York City, New York. She focuses on the topics of insurance and investing for retirement. Horvath has written for numerous websites and publications, and her work regularly appears on websites like Robinhood’s news feed and Benzinga.

As Benzinga looks to provide the most accurate and actionable reviews of personal loan providers, there are several data points used to reach these conclusions. As you review this information, remember that it is much more than a random number chosen as a rubber stamp for the lender.

Benzinga goes to great lengths to review items like online ratings, loan terms, fee structures, minimum credit ratings and much more. Therefore, you can see the final rating and how the team at Benzinga came to that conclusion.

Using solid data and timely evidence to build a personal loan review, you will learn from Benzinga where these companies succeed and where they fall short. Not only are you given the rating that helps point you in the direction of a quality lender, but you can see where that company excels, allowing you the freedom to choose a lender that suits your needs and the situation.

You can choose a lender based on its fee structure because terms are not a concern. You may be more interested in a mobile app or quality customer service, and you can quickly scan the list to determine which companies have the attributes you prefer. 

Balancing Facts With Big Data

When Benzinga encounters massive swaths of data, it can be difficult to uncover the whole truth about a lender. As a result, personal loan providers that offer services in multiple states were normed for the most populous state, giving you an idea of what the average level of service, interest rate, etc. might be. 

How Points Were Awarded

Collecting data on these lenders allowed Benzinga to gather quite a lot of information that was converted into a points system. Below, you can see how points were awarded so that you know how these lenders were ranked and rated—compared to one another via their many commonalities. 

Can You Apply Online?

Yes1 point
No0 points

Loan Terms

1-2 years1 point
1-3 years2 points
1-4 years3 points
1-5 years4 points
1-6+ years5 points

Origination Fees

$05 points
$1 - $10 or 1% of the loan4 points
$10 - $50 or 2% of the loan3 points
$50 - $100 or 3% of the loan 2 points
More than $100 or 4% of the loan 1 point

Late Fees

$05 points
$1 - $10 or 1% of the loan4 points
$10 - $50 or 2% of the loan3 points
$50 - $100 or 3% of the loan 2 points
More than $100 or 4% of the loan 1 point

Minimum Credit Score

0 - 3305 points
331 - 4504 points
451 - 5503 points
551 - 650 2 points
651+ 1 point


Starting at 0% - 3%5 points
4% - 10%4 points
11% - 15%3 points
16% - 20%2 points
21%+1 point

Loan Amounts

Up to $10001 point
Up to $50002 points
Up to $50,0003 points
Up to $100,0004 points
$100,000+5 points

BBB Rating

<B0 points
B3 points
A5 points

Number of BBB Complaints

<B5 points
B3 points
A0 points

TrustPilot Stars

1 star1 point
2 stars2 points
3 stars3 points
4 stars4 points
5 starts5 points

Customer Service Responsiveness

Scored 1 through 5 points based on interaction with the customer service team.

Methods of Contact

1 method1 points
2 methods2 points
3 methods3 points
4 methods4 points
5 methods5 points

Use Cases for Personal Loans

1-3 use cases1 point
3-5 use cases2 points
6-10 use cases3 points
10-15 use cases4 points
Unlimited5 points

Mobile App?

Yes1 point
No0 points