An eloan (or e-loan) is a neologism that the internet has given us. An eloan is simply an electronic loan, a loan arranged with a web based provider.

Eloans are provided by a wide range of finance companies and a simple web search should turn up many provides. Reputal eloan companies can often beat the high street bank rates because their overheads are lower.

As with any loan, remember that an eloan still needs to be repaid and you can still lose your collateral if you don't keep up eloan repayments.