Personal loans can be an effective way to consolidate debt, pay for home improvements or other large unexpected bills. But for some borrowers, meeting traditional lending requirements for a personal loan can be a challenge.


Unlike a mortgage loan that uses the house as collateral or an auto loan that uses the vehicle as collateral, personal loans are considered unsecured loans because they don’t require collateral. To qualify borrowers, lenders look at a variety of common factors, including credit score, debt-to-income ratio and credit history.


Seeing an opportunity to help more clients access personal loans, U.S. Bank recently established a partnership with Pagaya Technologies, a global technology company delivering AI-powered product solutions to lenders nationwide. With Pagaya, U.S. Bank can offer a wider range of clients the financial products they need, expanding access to credit and delivering more financial opportunity to more people.


Read more about the partnership here.