CHARLOTTE, N.C., May 22, 2015 -- LendingTree®, the nation's leading online loan marketplace, today announced the launch of its new personal loan rates product, an advanced second-generation personal loan marketplace, designed to provide consumers with fast and accurate personal loan quotes from multiple lenders and is capable of syndication.
The personal loan rates tool allows consumers to access an easy-to-use and informative personal loan shopping experience by anonymously comparing quotes from multiple lenders side by side, including loan product details, costs, and rates based on their individual financial situation. Borrowers have control over which lenders they want to connect with based on the presented quotes and can choose from several different contact options: applying online, contacting lenders via a toll-free telephone number or submitting a request for lenders to contact them.
Lenders participating on the platform receive an incremental source of highly motivated, qualified borrowers in the online channel. The tool integrates cost-per-click, cost-per-call and cost-per lead products into one platform, offering lenders more choice and transparency. Lenders will be able to display their brand, logo, products and services along with rates and fees that are relevant to the consumer's requirements.
Since the experience was systematically built to be compatible for syndication partners, large online portals and publishers can quickly integrate LendingTree's personal loan rates into their experiences, providing their audiences with timely and relevant loan quotes.
"Not only is the personal loan rates tool beneficial to consumers who want to shop and compare personalized rate details and loan information, it also has the ability to dramatically improve customer acquisition economics for lenders," said Nikul Patel, Chief Product Officer at LendingTree. "After seeing revenue from our personal loan product grow to $3.6 million in April 2015, launching the personal loan rates tool is the next step to extending the reach of our personal loan marketplace. This loan shopping experience will allow publishing partners to syndicate personal loan rates from our lending partners, and consumers can easily compare rates from multiple lenders which could unlock substantial saving opportunities."
The personal loan rates tool can be accessed at https://www.lendingtree.com/personal-loan-rates
Publishers interested in hosting the platform on their site should contact: PLrates@LendingTree.com.
For lenders interested in learning more about the personal loan rates tool, visit www.lendingtree.com/about/partner-with-us/register or email email@example.com.
LendingTree (NASDAQ: TREE) is the nation's leading online loan marketplace, empowering consumers as they comparison-shop across a full suite of loan and credit-based offerings. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business. To help borrowers make informed financial decisions, LendingTree developed My LendingTree, which provides a credit dashboard with free monthly credit scores, offers insight into factors affecting each score and identifies savings opportunities. LendingTree provides access to lenders offering home loans, personal loans, student loans, personal loans, business loans, home equity loans/lines of credit, auto loans and more. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.