A Personal Loan Is for a Fixed Amount

The amount of personal loans ranges anywhere from $1,000 to $50,000, depending on your lender, your income, your other debt, and your credit score. The better your credit score and the higher your income, the more money you can borrow.

Most banks place caps on the amount you can borrow. For example, you might only be able to borrow a maximum of $10,000 even if you're a very qualified borrower with an excellent income, if the lender's policy is to offer no more than that. 

You can't borrow from the loan over and over the way you can with a revolving credit card balance. Payments toward the loan reduce the balance, but they don't open up more available credit that you can borrow again. The account is closed when you pay off the loan. You'd have to reapply if you wanted to borrow again.