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April, 2017 | Floss CU

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Month: April 2017

What Lenders Operate in Both The United States and In The UK

What Lenders Operate in Both The United States and In The UK

There are a few lenders that offers loans both in the USA and UK. Even if the loan is issued by the same company, the lending terms will be different depending on whether you are based in USA or UK. The following are the top lenders that have operations both in the USA and UK.

1. Avant
Avant offers personal loans in UK and in the United States. Avant USA offers a loan of $1,000 – $35,000 for residents in the USA. The interest charges of Avant USA loan varies in the range of 9.95% – 35.99%. There is an origination fee which can vary depending on the loan amount. The minimum origination fee is 0.95% and can reach up to a maximum of 3.75%. Avant loans is ideal for borrowers with a credit score above 580. Avant UK allows borrowers to borrow £1,000 – £20,000. The representative APR for Avant UK loans is 42.5%. Both Avant USA and Avant UK loans can be applied online. Applying online will not have any impact on your credit score. You can put down esignature to the online contract. The funds can be released within the same business day after it has been approved.

2. HSBC
HSBC is a leading bank in the USA and UK. HSBC UK offers personal loans starting from £1,000 to £25,000. if you borrow less than £15,000, you can pay back the loan in 1 – 5 years. If the loan amount you apply is over £15,000, you can pay back the loan in 1 – 8 years. The representative APR for HSBC UK personal loans is 3.3%. In the USA, HSBC bank offers a number of home loans including first time home loans, home equity line and home mortgages.

3. Barclays Bank

Barclays Bank was originally founded in London, UK but it also has operations in the USA. Barclays UK offers personal loans in the range of £1,000 to £35,000. Borrowers have a choice of opting for a loan term of 2 – 5 years. To be eligible for a Barclay personal loan, you must meet several basic requirements including be at least 18 years, old, permanent resident in the UK and have a current account in good standing. Barclays Bank in the USA offers a total of 18 credit cards. Barclaycard Arrival Plus is the most popular credit card issued by Barclays Bank in the USA. Barclays Arrival Plus offers 50,000 signup bonus and allows you to earn 2x miles no matter what you spend money on.

4. Funding Circle
Funding Circle is a p2p lending platform that specialized in offering loans to small and medium sized businesses. Funding Circle is headquartered in London, UK but it also offers loans in other areas such as United States, and Germany. Funding Circle has extended loans to millions of Americans. Funding Circle provides loans of $5,000 – $1 millions and a loan term of 5 years for small businesses. There is no early repayment fee and you can receive the funds within a period of 7 days after your p2p loan is successfully funded.