Personal Loans for Ohio Borrowers

The Need for Personal Loans

Welcome to the Columbus home of the Personal Loan Net. We're pleased that you've stopped by. You probably have questions, so let us start by telling you a little about the ideas we've built our organization around.

America has just emerged from one of the most difficult economic periods in our history, and a fair number of us have been financially scarred.  Millions of Americans are just beginning to return to work and restore a state of normalcy in their lives, but credit scores don’t rebound overnight.

Personal Loan Net is a new kind of lender for the new financial landscape of America.  We understand that the economy has left a good number of us battered. We also understand that the credit scoring system in the U.S. has been commandeered by profiteering debt collection agencies that try to leverage the threat of a collection to extract exorbitant fees and leave millions of Americans vulnerable. 

We offer personal loans with fees that are a fair representation of your risk as a borrower.  If you lost your job three years ago and defaulted on debts but you have regained employment, we’re not going to try to prey on your misfortune by treating you as you were when things were coming apart.  We want to help you begin to rebuild your credit and re-chart your course.

With that said, personal loans are relatively risky for lenders, and the fees reflect this.   The logic that underpins markets, finance, and investment operates on the idea that markets will reach a state of equilibrium with fees, costs, or rewards inversely proportional to risks.  To understand this idea, it helps to understand that one person’s fee or cost is another person’s reward. 

As an analogy, consider two hypothetical investments – first, an investment in a small business start-up with an innovative business plan, or second, an investment in a large 100-year-old corporation with profits that have been slowly but steadily rising for decades.

Your investment represents an ownership stake in these businesses, and given that you’ll be investing the same amount regardless of which direction you choose to pursue, this ownership stake, in percentage terms, will be considerably larger in the small start-up than in the large corporation.  So if this start-up ends up wildly successful, your investment will pay-off handsomely.

So why wouldn’t everyone choose to invest in the start-up? The answer is that, of these two hypothetical businesses, the start-up is significantly more likely to fail – in which case investors lose their investment.  So many investors pass on these smaller, riskier ventures in favor of the security offered by the tried and true.

Personal Loan Net is willing to take what is perceived as a risk with our borrowers, but for this to be a smart investment on our part, we need to charge fees that are higher than the fees charged on less-risky loans.  What we want, however, is for the system to be fair and to provide value for everyone involved.  To this end, we’re pushing the equilibrium in favor of our borrowers by charging lower fees than many of our competitors.

Ready to take the first step to normalizing your financial situation?  Just answer a few questions on our short application form and we’ll get the ball rolling.