Credit’s tight this winter, helping to explain some of the movement seen in PYMNTS latest Provider Ranking of Personal Loan Apps. As small businesses and consumers alike seek infusions of capital for a variety of purposes from gift buying to debt consolidation, we’re observing more action among the loan app providers, still numbering nine on our ranking as 2021 nears.
The Top 5
Roaring from its position atop the list at No. 1 yet again is MoneyLion, with the SoFi app rising one spot to grab No. 2, pushing deep-rooted LendingTree down one to No. 3. Unchanged at No. 4 is the Avant loan marketplace app, as is consumer credit app Upgrade at No. 5.
The Top 10
The latest Provider Ranking of Personal Loan Apps records a few interesting shifts in the lower half of the top-ranking apps. For starters there’s the FlexWage app rising one spot to land at No. 6 for this ranking with its focus on real-time wage access.
Also rising one spot from the previous ranking is India’s popular PaySense personal loan app, with mighty peer-to-peer lender LendingClub dropping two spots to land at No. 8.
Earnest, the app specializing in personal loans and student loan refinancing, stays put at No. 9, once again leaving room for a tenth lending app to rise to the occasion, filling out the Provider Ranking of Personal Loan Apps Top 10. App wizards … get busy.
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