Personal loans are very popular with U.S. citizens. Americans owe a total of trillions of dollars in consumer loans. The average loan is equal to a few thousand dollars. Consumer loans can be used to pay rent, make car repairs, buy furniture, and more.

The interest rate depends on the scoring score assigned to the potential borrower. The minimum annual overpayment on a credit line or card is about 12%. The maximum rate can go up to 30% per annum. Consumer lending to U.S. citizens is actively engaged in the following banks: JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Capital One Financial Corporation, and others.

In addition to consumer loans Americans can get a microloan (payday loan). The maximum size of a “payday loan” is between $500 and $700. Money is given for up to 1 month. The interest rate on a loan is 1-2% per day. Microfinance bodies are regulated by state authorities. You will need a passport, a bank account certificate and a document certifying your official income in order to apply for a loan. The most popular microfinance company in the US is LendUp MFI, Bad Credit Loans, Upgrade.