TIANJIN - IT worker Chen Wei decided against going to his bank when he needed an urgent housing loan, but instead turned to an online loan search engine, or matchmaking firm, for help.

He got his loan a month later from a bank after comparing products of a number of financial institutions.

"It is too complicated to consult big banks," said Chen who works in the northern port city of Tianjin. He needed a loan to decorate his new house.

Using search engine Rong360.com, Chen selected a financial product of Huaxia Bank. Staff at the platform helped him contact the bank. He got a loan of 420,000 yuan ($568,215).

Online search engines which help match loan applicants and lenders is a new model of Internet finance in China. Chinese online vertical search engines like Rong360.com and Haodai.com help applicants get loans from certified financial agencies.

There are two traditional ways to get loans: applying directly from banks or through intermediary agencies. Getting a loan is very complicated and applicants must learn to calculate interest and compare different products, said Xu Ying, an official at Haodai.com.

In China, it is not always easy for applicants and lenders to find each other, Xu said.

"To obtain loans from banks is difficult for ordinary citizens and small and medium-sized enterprises," said Ye Daqing, CEO of Rong360.com.

So they have to seek help from intermediary agents whose goal is about making money and who do not care whether an applicant gets the cheapest loan, said Ye.

"The mission of vertical search engines like us is to help match both sides," he said.

Online search engines only charge lenders.

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