 TITLE: Can You Get a Personal Loan to Start a Business? CONTENT: Where to Get a Personal Loan to Start Your Business\n---------------------------------------------------\nYou can get a personal loan through several types of lenders. Regardless of the loan's source, however, it's important to keep in mind that personal loan interest rates can vary depending on your creditworthiness.\nIf you have excellent credit, you may be able to qualify for a loan with an interest rate in the low single digits. But if your credit is fair or poor, you may have a hard time qualifying for a rate under 30%.\nAs a result, it's crucial that you take some time to shop around and compare offers. Using Experian CreditMatch™, you can get matched to personalized loan offers from multiple lenders in one place based on your credit profile.\nIn addition to that, here are some general places you can look:\n*   **Traditional banks**: Some big banks such as Bank of America and Chase don't offer personal loans. But others, including Citi, Discover and Wells Fargo, do. Additionally, many community banks offer them. If you bank with an institution that offers personal loans, check to see if you can get a good offer based on your relationship with the bank.\n*   **Credit unions**: Credit unions generally offer better terms than banks because they're not-for-profit organizations owned by their members. Instead of returning profits to third-party shareholders, they funnel that money into offering better loan terms, including lower fees and interest rates. That's no guarantee you'll get the best rate, but if you're a member of a credit union, it's a good idea to check to see what's available.\n*   **Online lenders**: Some of the best personal loan offers come from online lenders, which include traditional banks, online lending platforms owned by banks, and other lenders that don't offer traditional banking products. What's more, many of these lenders allow you to get prequalified before you apply. This process doesn't impact your credit and makes it possible for you to more easily compare rates to find the best option for you. END