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These platforms may be more willing to lend to unbanked individuals who may not qualify for a traditional loan. Overall, getting a loan from a bank can be a good option for those who need to borrow a large sum of money or who want to take advantage of a low interest rate.
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However, it's important to be cautious when borrowing from an alternative lender, as the lac fees and interest rates may be higher than those of a traditional lender. For example, many online lenders do not require a minimum credit score or collateral.