Home » Guide to Personal Loans Guide to Personal Loans What are personal loans? A personal loan is a type of loan that can be used for almost anything. Repayment is over a set period of time. Like auto loans, mortgages, student loans, and credit cards, personal loans are a type of credit. You can use a personal loan to pay for almost anything (though there are a few exceptions!). Here’s where it gets exciting. In just the last ten years, companies have increasingly started using technology to find new ways to make applying, securing, and repaying personal loans a lot easier. There’s never been a better time to consider personal loans as an option. What’s the difference between a personal loan and other kinds of loans? When you need money quickly, it can be easy to get overwhelmed by all the different types of loans out there, such as: Business loans Mortgages Auto loans Student loans Other types of loan products and lines of credit Depending on your unique financial situation, there’s likely a loan option out there for you.