How we rate loan providers
Every score on this site comes from the same 6 criteria, weighted as set out below. We publish the rubric so you can disagree with it.
The criteria
| Criterion | Weight | What the score means |
|---|---|---|
| Regulatory standing | 25% | Whether the operator holds a Certificate of Authority, appears on the SEC list of recorded online lending platforms, and is clear of SEC advisories. Confirmed against an SEC list or statement, plus an OLP recording, scores 9-10; confirmed authority alone scores 7. Where the operator publishes credentials we have not yet matched against an SEC list, the most we award is 4-5. Not found on any list scores 0, and being named in an advisory scores 0 with the listing pulled. |
| Cost of credit | 20% | The effective rate including fees, judged against the 12% monthly ceiling for capped small loans. Comfortably inside the ceiling scores 8-10; at the ceiling scores 5; above it scores 0 and we say so in the review. |
| Cost transparency | 20% | Whether you can find the total cost before handing over your details. Amount, term, interest and every fee published on the site scores 9-10. A rate range with undisclosed fees scores 4. "Apply to find out" scores 0-2. |
| Who you borrow from | 15% | Whether you know which licensed entity ends up holding the loan. A direct lender scores 9. A marketplace that names its partner lenders before you submit scores 6. One that does not name them scores 4. |
| Data handling | 10% | What the provider asks for and what its app requests. A clear privacy notice and no access to contacts scores 9-10. Requesting contacts or photos, which is the precondition for the debt-shaming this market has a history of, scores 0-2. |
| Getting approved | 10% | How broad the eligibility is and how much documentation is required, judged against what the provider claims. Published requirements that match reported experience score well; a stated approval time nobody meets scores badly. |
| Total | 100% |
Why some providers have no score
The overall figure is a weighted average of the criteria we have actually assessed, and every review states how many of the 6 that is. Where regulatory standing is still unresolved, or less than half the rubric weight is covered, we show the breakdown but withhold the headline number.
The alternative is to score the unknowns as average, which is how comparison sites end up with every provider sitting between 4.1 and 4.6 stars. A number that never varies is not information.
What we will not do
- Publish an interest rate, fee or loan amount we cannot link to the provider’s own published page. Missing figures say “see lender terms”.
- Write reviews in a borrower’s voice, or buy them in. Borrower reviews on this site are submitted by real people and read by a human before they appear.
- Let commission change a classification or a score. It affects the order providers appear in within their group, and we say so on every table.
How commission works here
We earn a commission when someone applies through some of our links. Within each group — direct lenders, and marketplaces — providers are ordered by how well they perform for our readers. What commission never changes is whether we tell you a provider is a marketplace rather than a lender, or that we could not find its registration.
Corrections
If a figure here is wrong, tell us and we will fix it and log it. Every correction we have made is listed on the corrections page.