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Article:
8 Point Checklist, Evaluating Online Vendors by: Tom Levine Here are 8 things to consider, when evaluating lenders online: Website Design Privacy Policy About Us Popularity Reputation Short Form Points, Fees, Terms and Rates Communication 1. Website Design: The webpage is, in fact, the storefront of the internet. In the real world, your first impressions make all the difference. Well, it's no different on the internet. Does the site seem forth-right? Can you glean valuable information immediately, or does it appear that you are being pushed to click here, click there? Does the page load fast, indicative of a reliable server, or does it seem to take forever for everything to be displayed (or worse, are you receiving various error messages). Are there a ridiculous amount of pop-ups, pop-unders, and other in-your-face ad campaigns, or, does the lender simply put it all out there for you to decide? Examine the website design, and trust your first impressions. 2. Privacy Policy: You will likely be sharing some personal information, in exchange for loan offers. You shouldn't be so concerned about this that it limits your ability to reach out to possible lenders. However, use your common sense. Does the website post its privacy policy? If so, take a quick peak at it. Does it seem to make sense, and is it reasonable? Virtually all trustworthy online businesses now have posted privacy policies to both assure you of their intent, and to comply with current laws and regulations. 3. About Us: Does the lender post an 'about us'¯ page? If not, this could be a red flag. In other words, the lender should take pride in its history, its vision, and its mission statement. An 'about us'¯ page is an opportunity for your lender to tell you a little bit about themselves. If you don't see it, then what are they hiding? On the other hand, if you do see an 'about us'¯ page, go check it out. How long have they been in business? Where are they located? Do they post a phone number, and do they provide contact information? What are their policies and philosophies? Reading the 'about us'¯ page can tell you tremendous information about the lender. 4. Popularity: Take your lender's website address, and plug it into Alexa.Com. Alexa is a tool, created by the folks at Amazon, to evaluate traffic on the internet, and to provide a venue for visitors to post critiques of websites. Popularity is gauged by the Alexa rating, and the lower the number, the higher the rating. For example, our site, http://loanresources.net , as of today's date, has a 3 month average Alexa Rating of '86
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