Everywhere you turn, it seems like there are hundreds of personal loan companies just waiting to lend you money. In fact, your own bank or credit union is likely one of those companies. But you should not assume that your bank will automatically approve you for a loan; it’s always recommended to compare quotes from multiple companies.
Some lenders have been around for hundreds of years, others are just getting their bearings. Regardless, it’s in your best interest to research a few companies before you apply for a loan. Here are some of the top personal loan companies available today.
SoFi: This lending company is best for borrowers with excellent credit (a score of 680 or higher. SoFi is known for flexible repayment, low APR and zero borrowing fees.
Upstart: If you have average to poor credit, Upstart might be the company for you. It focuses on lending money to those with short credit history. Upstart allow you to borrow up to $50,000 if needed.
LightStream: A credit score of 660 or better can qualify you for a loan from LightStream. This lender is extremely popular for its low APR rates and flexible lending amounts. In fact, you can borrow up to $100,000 if you qualify!
Best Egg: Looking to consolidate your debt into one personal loan? Best Egg offers fast approval and is best for borrowers with good to fair credit.
Avant: Avant is a lending company that aims to help borrowers with poor credit. If you have a score of at least 550, you could qualify for a loan with an APR between 9.95 and 35.99 percent. You could borrow up to $35,000 depending on your qualifications.