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Loans.net Reports Rise in Applications and Approvals

Online portal ""Loans.net"":http://www.loans.net/ has revealed data that indicates a significant uptick in loan applications and approvals during August.


Attributing the rise to economic improvements and decreasing unemployment rates in the U.S., Loans.net reported a 30 percent elevation in website traffic in the second and third weeks of the month.


""In just the past two weeks, we have seen the traffic to our website increase by as much as 30 percent. This is not the only statistical increase that we have seen either,"" noted Loans.net's representative in an official statement on the entity's recent findings.

""We have also seen a record number of people applying for all kinds of loans including: personal loans, home mortgage loans, debt consolidation loans, and auto loans. The loan market is starting to show excellent signs of improvement again, we have also seen a huge increase in loan approvals,"" the representative added.

Focusing on the effect that the automotive lending business is exerting on loan activity of all types, Loans.net's statistics showed a 25 percent rise year-over-year for on-time payments on loans in the auto sector. Additionally, the company pointed out that banks are currently approving auto loans at a greater rate, noting that Loans.net has seen ""record numbers"" of approvals among financial institutions.

""Banks are starting to become more comfortable with loan approvals again,"" concluded Loan.net's representative.

About Author: Abby Gregory


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