Lending companies are a type of financial institution that offers loan services to consumers. They usually offer similar financial lending products to banks: personal loans, mortgage loans, car loans, and so forth. Lending companies are handy when you get turned down for a loan by your bank for any reason such as incomplete requirements, bad credit, an unstable job, or that the bank feels that you are too high a risk. This is where lending companies come in. If you find it difficult to apply for a loan at a bank, then you might have it easier using the services of a lending company. Although they have similar financial products with banks, take note though that lending companies often have higher interest rates. Personal loans are still unsecured loans, meaning you have no collateral, so they'll still have higher interest rate. To counter the high interest rates, most lending companies offer flexible repayment terms to help their customers pay their loans back.