These sites are not lenders. They sell your information.
Payday loan marketplaces and lead generators look like loan applications, but they do not lend money. They collect your personal information and sell it to lenders — often multiple lenders at once. Your data may also be shared with marketing partners.
The lead-generation business model
Selling leads to lenders
Lead generators earn $50–$150+ per lead sold to a lender. They profit from your application whether or not you receive a loan. The more companies that buy your lead, the more they earn.
Shared with multiple parties
Your SSN, bank account, employer information, and contact details may be shared with 5–100+ companies within seconds of submitting. You have no control over who receives it.
"We are not a lender"
Look for this phrase in the fine print. Federal regulations require disclosure. If you see it, the site is a marketplace or lead generator, not a direct lender.
Calls, texts, and emails
After submitting your information, expect aggressive outreach from multiple lenders and marketing companies. This may continue for months, even if you did not accept a loan.
What these sites say in their fine print
"[Site] is not a lender and is not involved in the lending process. The website functions as a free online platform that establishes a connection between a user and a lender."
This is the most common marketplace disclosure. It means your data is being sold to third parties.
"By submitting your information, you agree to share your information with [site] and its network of participating lenders and marketing partners."
"Marketing partners" means your data may be used for purposes entirely unrelated to your loan request.
"We may share your information with up to [number] lenders in our network to help match you with a loan offer."
Some sites disclose a number; others do not limit how many companies receive your data.
Balance On Hand does not recommend, rank, or promote any lending marketplace or lead generator. This page is for consumer education only. If you believe your data was misused, file a complaint with the CFPB or your state attorney general.