CHARLOTTE, N.C., Aug. 12, 2013 /PRNewswire/ -- LendingTree, the nation's leading online source for competitive loan offers, has launched a new comparison shopping platform for the emerging personal loan market segment. Through lender integration and collaboration, the new personal loan shopping experience has been streamlined and optimized to simplify the process for borrowers and financial institutions.
Lenders and borrowers benefit from enhanced offer and offer detail pages which link directly to pre-populated loan applications on the lenders' site, greatly simplifying the steps from loan offer to origination. Because LendingTree's upgraded personal loan product surfaces multiple offers, borrowers have more options and the control to choose the offer that works best for them.
"We see significant growth in the personal loan space as financial institutions are increasing their appetite for risk on uncollateralized loans and peer-to-peer lending fuels a new kind of investor," said Nikul Patel, LendingTree's Chief Product Officer. "Borrowers are using personal loans to do big ticket projects and consolidate debt. Because rates can vary, we're confident consumers are well served by comparison shopping for personal loans. We're excited that we are able to help borrowers and lenders become more efficient in the personal loan space."
The personal loan comparison shopping platform marks LendingTree's sixth major lending product update this year.
For more information on personal loans, visit: https://www.lendingtree.com/personal-loans-index
About LendingTree, LLC
LendingTree, LLC is the nation's leading online source for competitive home loan offers, empowering consumers during the mortgage, refinance or auto loan process. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 30 million loan requests and $214 billion in closed loan transactions. LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans/lines of credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ: TREE). For more information go to www.lendingtree.com, dial 800-555-TREE, join our Facebook page and/or follow us on Twitter @LendingTree.