Following a quick on-line application process at www.NetCredit.com, its proprietary underwriting technology will make an instant eligibility decision. Qualified customers will then be presented with a customized loan offer ranging from $500 to $3,000 that can be repaid through installments over six to 36 months. Unlike some other online lenders, NetCredit looks at several variables in the applicant's broader financial picture - not just their credit score -- to determine loan eligibility. This allows NetCredit to approve many customers who do not qualify for a traditional credit product through their local bank.

NetCredit does not charge any additional fees associated with the loan (application, origination, late or not-sufficient funds or prepayment). NetCredit will report repayment history to the major credit bureaus which may help borrowers build their credit history.

The FDIC recently released figures stating that 28.3 percent of households nationwide are unbanked or underbanked. This follows a May 2011 survey by the National Bureau of Economic Research (NBER) which found that nearly half of U.S. consumers would not be able to come up with $2,000 to cover a financial emergency within 30 days.

"There is a growing number of Americans in today's economy who are falling into the credit gap, unable to borrow from their bank and not adequately served by existing non-bank products in the marketplace," said Stephanie Klein, head of consumer lending at NetCredit. "NetCredit is designed as a solution for the millions of Americans who are turned down by their banks, but need access to credit to pay for unexpected expenses such as, medical costs, car repairs or home improvements."

"NetCredit research indicates that only 11 percent of Americans with fair or poor credit believe that banks will lend to them," said Klein. "Eighty-one percent of these same consumers feel judged by their banks; and 68 percent believe that banks have abandoned the average consumer. These survey responses highlight the need for innovative lenders like NetCredit to fill the void left by mainstream banks."

NetCredit personal loans are currently available in the states of Virginia, Missouri, Wisconsin, Utah, Idaho, Delaware, and South Dakota.