Almost everybody needs to take out a loan once in their life, and one Web site is attempting to make that easier.
Loans Org have launched their newest Web site that seeks to be an “information bank that strives to provide consumers with information on an otherwise ambiguous and confusing topic.”
The Consumer Financial Protection Bureau points out that fine print in loan documentation can make it hard to tell the difference between two loans and that difference could mean a lot of money. Loans.org is seeking to help consumers sift through the details, allowing them to gain information on various types of borrowing and let them compare loan quotes across various carriers for free.
Cesar Diaz, founder and developer, said, "We're not only trying to make loans accessible to everybody, we're trying to create a more fiscally-informed society by providing both assistance in financial planning and general knowledge about lending and borrowing."
Diaz created the service as a way to alleviate the fears of borrowing and create a force that is on the side of the consumer. The five major loan types - home mortgage, student, personal, payday and auto - are all covered extensively. This includes analyzing current events, producing informative articles and answers all the questions consumers may have about each type of loan.
The company hopes to make loans.org a trusted service that consumers will go to find the most affordable and beneficial method of borrowing. The site’s major plus is that it allows consumers to obtain loan quotes from various sources in minutes.
They are breaking into the loans industry as a borrower’s guide, and a shield against those who will try to take advantage of consumers.
The amount of resources already available to users of the site is extensive. It’s already looking like a great resource to borrowers of every type. The tools available on the site are also well implemented allowing users to calculate loan repayments and other factors involved in borrowing.