Explore other lending options available in the market
When considering a personal loan, it is important to understand all your options. Below we have compiled information about other personal loan providers in the market. Each lender has different requirements, loan amounts, and terms. We encourage you to research thoroughly and choose the option that best fits your financial situation. Remember that all loans should be taken responsibly and only when necessary.
LendingClub is one of the largest peer-to-peer lending platforms in the United States. They offer personal loans ranging from $1,000 to $40,000 with repayment terms of 36 or 60 months. The platform connects borrowers directly with investors who fund the loans. Applicants typically need a minimum credit score of 600 and at least two years of credit history. Interest rates vary based on creditworthiness and can be competitive compared to traditional bank loans.
Prosper was the first peer-to-peer lending marketplace in the United States. They offer unsecured personal loans between $2,000 and $50,000 with fixed rates and terms of 3 or 5 years. The platform is known for its straightforward application process and quick funding times. Borrowers typically need a credit score of at least 640 and a debt-to-income ratio below 50%. Prosper also offers joint applications for borrowers who want to apply with a co-borrower.
Upstart uses artificial intelligence and machine learning to evaluate borrowers beyond traditional credit scores. They consider factors like education and employment history to assess creditworthiness. Loan amounts range from $1,000 to $50,000 with terms of 3 or 5 years. This approach allows Upstart to approve borrowers who might be declined by traditional lenders, making it a good option for those with limited credit history but strong educational or professional backgrounds.
SoFi, short for Social Finance, offers personal loans from $5,000 to $100,000 with no fees including origination, prepayment, or late fees. They require a minimum credit score of around 680 and focus on borrowers with strong financial profiles. SoFi is particularly popular for debt consolidation and major purchases. Members also get access to career coaching, financial planning, and other member benefits. Unemployment protection is available for qualifying borrowers.
Marcus is Goldman Sachs consumer lending division offering unsecured personal loans from $3,500 to $40,000. They charge no fees whatsoever, including no origination fees, prepayment penalties, or late fees. Loan terms range from 36 to 72 months. Marcus typically requires good to excellent credit for approval. The application process is entirely online, and funds can be received as quickly as the same day for approved applicants with qualifying bank accounts.
Avant specializes in personal loans for borrowers with fair to good credit, typically those with scores between 580 and 700. They offer loans from $2,000 to $35,000 with terms of 24 to 60 months. While interest rates may be higher than prime lenders, Avant provides an option for those who might not qualify elsewhere. The company also reports payments to credit bureaus, helping borrowers build credit through responsible repayment.
Best Egg offers personal loans ranging from $2,000 to $50,000 with repayment terms of 36 to 60 months. They focus on borrowers with established credit and typically require a minimum score of 640. Best Egg is known for competitive rates and fast funding, with some borrowers receiving funds as quickly as the next business day. The company also offers secured loan options for those who want potentially lower rates by using collateral.
Discover offers personal loans from $2,500 to $40,000 with no origination fees or prepayment penalties. Repayment terms range from 36 to 84 months, giving borrowers flexibility in their monthly payments. Discover typically requires good credit for approval and offers competitive interest rates. As a major financial institution, they provide the stability and customer service expected from a large bank along with the convenience of online applications.
LightStream, a division of Truist Bank, offers unsecured personal loans from $5,000 to $100,000 with excellent rates for well-qualified borrowers. They require good to excellent credit and offer some of the lowest APRs in the market. LightStream also offers a Rate Beat program, promising to beat any qualifying rate by 0.10 percentage points. Same-day funding is available for applications approved by 2:30 PM ET on business days.
Upgrade offers personal loans from $1,000 to $50,000 with fixed rates and terms of 24 to 84 months. They accept borrowers with credit scores as low as 580, making them accessible to a wider range of applicants. Upgrade also offers credit monitoring tools and financial education resources to help borrowers improve their financial health. Joint applications are available for those who want to apply with a co-borrower for potentially better terms.
OneMain Financial offers both secured and unsecured personal loans from $1,500 to $20,000. They have a network of physical branches across the country and specialize in loans for borrowers with less-than-perfect credit. While interest rates may be higher, OneMain considers factors beyond credit scores and offers personalized service through their branch network. Secured loan options may provide lower rates for those with collateral.
Payoff focuses specifically on credit card debt consolidation, offering loans from $5,000 to $40,000 with terms of 2 to 5 years. They require a minimum credit score of 640 and at least $5,000 in credit card debt. Payoff emphasizes financial wellness and provides tools and resources to help borrowers stay debt-free after paying off their credit cards. The company reports a focus on member support and financial education.
Happy Money partners with credit unions to offer personal loans focused on paying off credit card debt. Loan amounts range from $5,000 to $40,000 with terms of 24 to 60 months. They use a unique assessment called the Happy Money Score that considers psychological factors alongside traditional credit metrics. The company emphasizes a positive relationship with money and provides tools for ongoing financial wellness.
PenFed Credit Union offers personal loans from $600 to $50,000 with terms of 1 to 5 years. As a credit union, they often provide competitive rates compared to traditional banks. Membership is open to anyone who joins an eligible organization or opens a savings account. PenFed is known for their military-friendly policies and community focus. No collateral is required for their personal loan products.
Navy Federal Credit Union offers personal loans from $250 to $50,000 with terms up to 60 months. Membership is available to military members, veterans, Department of Defense employees, and their families. Navy Federal often provides some of the most competitive rates available and has no origination fees. They also offer specialized loans for debt consolidation and may approve borrowers with lower credit scores than traditional banks.
The information provided above is for educational purposes only and may not reflect current rates, terms, or availability. Each lender has their own application requirements and approval criteria. We recommend contacting lenders directly for the most up-to-date information. Xact Loan is not affiliated with any of the lenders mentioned above and does not endorse any specific lender. Always compare multiple options and read all terms carefully before committing to any loan.
While there are many options available, here is what makes us different
Get decisions in minutes, not days. Our streamlined process means you can access funds when you need them most, without lengthy waiting periods.
Borrow between $500 and $5,000 based on your needs and qualifications. Get exactly what you need without over-borrowing.
We work with lenders who look beyond just your credit score. Your income and ability to repay are important factors in the decision process.
Your personal information is protected with bank-level 256-bit SSL encryption throughout the entire application process.