Personal Loan Alternatives Backed by Backed

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Personal Loans with Backed Options
Backed loans do not appear to be in the market. Compare a personal loan with other lenders.
By Annie Millerbernd Lead Writer • personal loans, "buy now, pay later" loans, cash advance apps Annie Millerbernd is a trusted NerdWallet authority on personal loans. Before joining NerdWallet in 2019, she worked as news reporter in California and Texas and was an expert in digital content at USAA. Annie's work has been mentioned by the and published on The Associated Press, USA Today and MarketWatch. She's also been quoted in New York magazine and appeared on NerdWallet's "Smart Money" podcast, as well as local TV and radio. She's based at Austin, Texas.





October 16 Oct 16, 2020


Editor: Kim Lowe Lead Assigning Editor The consumer lending Kim Lowe leads the personal loans editorial team. The editor came to NerdWallet in the last 15 years, after in charge of content for MSN.com which included travel, health and food. Kim began her career as a writer for publications that covered the mortgage food, restaurant and supermarket industries. Kim earned her bachelor's degree in journalism from the University of Iowa and a Master of Business Administration from the University of Washington.







A majority of the products we feature are from our partners, who pay us. This influences which products we review and the location and manner in which the product is featured on a page. But, it doesn't affect our opinions. Our opinions are our own. Here is a list of and .



Backed, a loan provider which offered co-signed, low-rate personal loans, appears to not offer any non-secured personal loans. The lender has no longer an online presence, and NerdWallet is not able to reach the company. You can find the personal loan at banks, credit unions and .
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Individual loan alternatives to Backed
Online lending
The online lenders can tailor their individual loans to different types of borrowers. These lenders cater to borrowers with fair, good or bad credit. They let you borrow for just about any purpose. Some offer joint personal loans, which are similar as co-signed loans. Comparing offers can help you find the lowest rate and also find the loan that has the most benefits.
Here's what is a typical online loan will look like:
Credit scores from poor to excellent accepted.
APR range from 6% to 36 percent.
Loan amounts: $1,000 to $100,000.

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Credit unions
Credit unions are a good first option for members with fair or bad credit. They examine your credit history and consider things like your standing in the relationship with your credit union in order to make an loan decision.
, a national credit union that allows members to add co-signers to their personal loans. Membership is open to the public.
Here's how a typical credit union loan appears to be:
Credit scores from bad to excellent can be accepted.
APR range: 7% to 18 percent.
Amounts of loans: $500 to $50,000.

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Compare personal loans
Here are three lenders that you could think about as alternatives to Backed. They all offer joint or co-signed loans. NerdWallet suggests using multiple lenders to evaluate rates.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the factors we believe to be consumer-friendly, including the impact on credit score, rates and fees, customer service and responsible lending practices.


The NerdWallet ratings are decided by our editorial team. The scoring formula considers aspects we consider to be beneficial to consumers, including impact to credit score rate and fees, customer service and ethical lending practices.


The NerdWallet ratings are decided by the editorial staff. The scoring formula considers aspects we believe are beneficial to the consumer, including the impact on credit score, fees and rates customers' experience, and ethical lending practices.


Est. APR 8.49-35.97 percent

Est. APR 7.99-29.99%

Est. APR 18.00-35.99 Percentage

A loan term ranging from between 2 and 7 years

The loan term is 2-5 years

The loan term is 2-5 years

Amount of loan: $1,000-$50,000

Amount of loan: $5,000-$50,000

The loan amount is $1,500 to $20,000

Min. credit score 560

Min. credit score 620

Min. credit score Not e






Banks
The main feature of a Backed personal loan was the option to co-sign with a person, which is not common among banks lenders. is one of the banks that permits borrowers to add a co-signer to increase the likelihood of getting approval or to get a lower interest rate.
Here's what a typical loan appears to be:
Good- to excellent-credit borrowers and existing customers preferred.
Variation in APR: 5 - 29%.
The loan amount is $1,000 up to $100,000.

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About the writer: Annie Millerbernd is an individual loans writer. Her work has appeared in The Associated Press and USA Today.







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