A Personal Loan is a loan usually meant for personal, family or household purposes. These types of loans are unsecured, meaning that it is not necessary to have any form of collateral such as property. All that is required is proof of your identity and a regular source of income. Personal Loans are typically repaid in fixed monthly payments.

There are no specific limitations on how a personal loan can be used. Once you've been connected with a lender, you are free to use the funds as you desire. Below are some common uses:

• Debt Consolidation
  If you are carrying a large amount of debt from previous loans, a personal loan can be used to consolidate your payments into one easy monthly payment with a lower interest rate. Doing so can save you lot of money.
• Repairs and Renovations
  Been putting off a major repair to your car or home? Or are you in need of renovating your kitchen to increase the value of your home? A personal loan can be used to get the job done under affordable terms you are able to handle.
• Major & Unexpected Expenses
  Life's unpredictability can have a serious impact on your finances. Unexpected medical bills, major car repairs or an emergency can all be reasons to utilize a personal loan.
• Personal Needs
  The beauty of a personal loan is that it is completely flexible to your needs. There are no restrictions to what you can use it for.

A short-term loan is a quick, easy and convenient loan that can be used to address any type of short term or immediate financial need. Short-term loans are also referred to as ‘cash advances', and are commonly used for financial emergencies like home or auto repairs, unexpected medical bills, or in times where you are falling a bit short on your budget before your next payday.

At Vivaloan, we believe that everyone deserves access to credit. Although credit is one aspect of your request that is assessed, our lenders consider a broad range of criteria to determine your eligibility, including your personal information, employment and state of residence. We work with lenders that provide loans for those with excellent credit, average credit or poor credit. Even if you are in the process of rebuilding your credit, you may still qualify for a loan.

Vivaloan utilizes industry standard security protocol and enhanced 256-bit data encryption technology to ensure that your information is secure while using our service.

Once we have connected your request with a lender, Vivaloan will direct you to their site where you will receive instructions on how to e-sign for your loan. Once you have signed for your loan your funds are released. Funds are typically received in your bank account as soon as the next business day.

Once you submit your request our engine automatically searches for a loan to suit your request based on the information you provide. If a lender is found, you will be notified on our site in real-time. You will then be directed to your lender's site for instructions on how to finalize your loan. If we are unable to connect you with a lender, we will direct you to additional options to help address your financial needs.

Because we are not a lender ourselves, the exact terms of your loan (including interest rates, repayment periods and monthly payment information) will be presented to you by your lender. Each lender uses their own policies to determine their terms, which often depend on your personal information, including employment, monthly income, credit history and the state that you reside in.

At Vivaloan, users can make a loan request for between $100 and $15,000. The amount you receive is dependent on a number of factors, including your income, employment, credit history, state of residence and the lender that you are connected with. Not everyone is eligible for $15,000. In the event that your initial loan request is not connected, you may still be eligible to be connected for a lower amount. Simply follow the instructions provided on our online form to request a lower amount in real-time.

Vivaloan provides a loan connecting service and is partnered with hundreds of different lenders, and therefore cannot provide specific interest rates or terms on our site. When you are connected, your lender will provide specific interest rates for your loan, and you can review the agreement carefully before signing for your loan.

At Vivaloan, our lending network includes both installment and short-term loan lenders to serve your financial needs. The amount of time you are given to repay your loan depends on the type of loan you are connected with. Installment loans are paid back over multiple monthly payments, usually between 12 to 60 months. Short-term loans, also commonly referred to as cash advances, are typically in the amount of $1,000 or less and are usually paid back on your next payday.

Most lenders offer loan extensions and alternative repayment options in special circumstances. We recommend that you contact your lender directly to discuss the options available to you.

Vivaloan accepts loan requests 24 hours a day, 7 days a week. Our network of lenders is open at all times, unlike conventional banks that are only open during business hours. Once you are connected with a lender on our site, you will receive instructions on how to finalize your loan with your lender.