Lenders are pounding the pavement looking for borrowers who want to consolidate bills, take a vacation or fix up their homes.

Homes are being inundated with mail solicitations from companies like Marcus, Elevate and Lending Club, hoping to supply personal loans to consumers.

In all, 10 nonbank lenders that Credit Suisse tracks sent out 368 million pieces during May, a volume increase of 10 percent over April and a jump of 41 percent from the same period a year ago, according to Credit Suisse, which tracks the somewhat off-the-grid indicator.

Personal loan debt is at $120 billion through the first quarter of 2018, an 18 percent surge from last year.

"We believe mail volume data is an important barometer of competitiveness, particularly in personal lending space where direct mail volume has seen an increasing trend over the past few years," Credit Suisse analyst Moshe Orenbuch said in a research note. "In general, we believe that going forward, personal loan lenders will continue to utilize the direct mail channel as the major customer acquisition source."

Marcus, a Goldman Sachs enterprise that focuses on prime borrowers, sent the most solicitations in May of the companies analyzed. The lender's 49 million pieces marked a 225 percent rise over the May 2017 and a 39 increase from April 2018.

Personal loans often are utilized for debt consolidation, though they can be put to a multitude of uses.

"For us, one of the key insights is based on some research that we did: 77 percent of consumers with high-interest credit card debt are unaware that you can use a personal loan to pay off that credit card debt," said Dustin Cohn, head of brand management and marketing communications for Marcus. "Our objective has been to create awareness."