Personal Loan for H1B visa holders in USA

1
Are H1B Visa Holders Eligible For Personal Loans
in USA?
2
What is the H1B Visa?

• Commonly known as a work visa.
• Given to foreigners who come to the United States
  for establishing their career. 
• You are not a permanent US citizen.
• You have temporary status in the United States.  

3
Are you really eligible?

• You are holding H1B visa and working in USA.
• You are looking for additional funds in the times
  of crisis. A personal loan may help you.
• The question arises in your mind, are you
  eligible for personal loan?
• The answer is definitely yes, you are eligible
  for personal loan.
• As a non-permanent resident, you will need to
  establish good financial track records to prove
  your eligibility for a personal loan.

4
Why is it hard for H1B holder to get personal
loan in USA?

• Due to a variety of reasons
• Personal Loan is considered as high-risk credit,
  due to its unsecured nature.
• Lenders fear a visa holder for a personal loan as
  a higher risk than US citizens.
• Hard to recover the outstanding money. If a visa
  holder defaults on a loan and goes back to his or
  her country.

5
Personal Loan on H1B Visa

• One can get a personal loan in the US, if you
  fulfill the following criteria 
• Must be at least 18 year old (varies by state).
• Should be a valid visa holder (J-1, H-1B, E-2,
  O-1, or TN) and must be valid for the life of the
  loan.
• Should have a verifiable U.S. bank account.
• Should have a good credit score.
• Must be employed and have a steady source of
  income, or pending employment to start within the
  next 90 days
• Should have a cosigner (your employer is almost a
  built-in cosigner). 
• H1B visa should be valid for at least 3 more
  years at the time of your application.

6
How to improve your eligibility to get a personal
loan in the US?

• An H1B visa holder can add a US citizen with a
  good credit score as a cosigner to approve a
  personal loan from the lender.
• Renewing or Extend your visa, if it is going to
  expire soon.
• H1B visa should be valid for at least 3 more
  years at the time of your application.
• Assure your lender that you will be in the USA
  for as long as your loan is not paid.

7
List of Lenders that offer a personal loan for
H1B Visa holders in the US

1. Avant
2. Stilt
3. Nomad Loans
4. Badcreditloans.com
5. Prosper
6. Loan Depot

8
Thank You!!!