How do you select the best loan offering out of thousands? Borrowing for a business, home or car is a serious financial commitment for most to make and you are likely to want to make it with someone reliable. This is more than possible to accomplish online. You won't get a customary smile and hand-shake and you may even miss out on the free T-shirt; but you do get lots of choices and plenty of online data you can use to make your decision. There are many online loan sites which are highly reputable and provide the best services a customer could hope for, but there are others that will trick you with hidden costs that may not become evident until later.
Examine the lenders track record. A check through the Federal Trade Commission (FTC) web site at http://www.ftc.gov may give you a good idea about how worthy your lender is.
When you log on to any online loan site to submit your loan application, look at the address field of your browser and notice if the company name appears in the domain name like: http://www.companyname.com. If the URL supplied to you resembles something like [http://www.domainname.com/loans/companyname], you may want to double check the identity.
Mort Sloan writes, whines and occasionally pontificates for Eloan Review, a database of online loan providers which are rated and reviewed by editors as well as site visitors.
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Article Submitted On: April 30, 2006
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