15 Best Personal Loan Companies & Why Choose Which

Looking for the best personal loan companies? This article is definitely the right one to read.

It contains not just the list of the best loan companies to pick from, but also tells you a bit about each.

This is to make it easier for you to choose the best one for your particular personal needs.

First, a bit more about personal loans…

A personal loan is money you borrow from lenders when you need money to spend right away, usually to address personal problems or issues.

They are often unsecured in the sense that they can be given even without any  assets, guarantor or any form of collateral.

The loan can be used to deal with personal financial emergencies that may include health,  repairs in the home, car repairs, small business transactions, education, and so on.

 

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I know this might not help with whatever financial issues you need a loan for, but every dollar can add up, even if it’s to help you repay some of the loan eventually.

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Loan Companies’ Interest Rates To Consider

Back to personal loans though, yes, interest rates are charged when you take out the loan. The exact interest rate and amount you will re-pay varies, depending on the lender.

You can qualify for a personal loan from a lender even if you don’t have any collateral. However, most lenders will only give you the loan if your credit score is high.

So, your ability to access most personal loans is dependent, to a very great degree, on your credit rating.

Some types of personal loans include credit cards, home equity lines of credit, car loans, mortgage loans and instant Payday loans.

There are so many lenders of personal loans. Some are individuals and some others are personal loan companies.

If you are like me who chooses loan places near me that are best for your financial situation, that’s half the battle. Next is to choose the company that fits your interest the best.

There are different criteria you can use in choosing the best personal loan company to go with.

These include:

• The loan company must have a good reputation when it comes to lender/borrower relationships.
• The loan company should offer a low or reasonable annual percentage rate (APR).
• The company should be approachable for renegotiation of the loan.
• The company’s loan conditions must not be too hard to follow. For example, too much paperwork!
• The company’s loan origination fee and other charges should be low and clear.
• The company’s repayment terms should be flexible for the borrower.

The criteria to choose the best personal loan company for you should apply to your personal needs.

By the way, if you know for sure you won’t meet the requirements for approval, you can always try other options, including trying to get free money from the government.

 

15 Best Personal Loan Companies You Should Consider

Here are 15 of the best personal loan companies out there and why you should choose each.

1. PersonalLoans.com

PersonalLoans.com is a website that offers users the opportunity to get personal loans from lenders.

You can make your loan request on PersonalLoans.com. This company helps you connect with a network of lenders that can give you a personal loan.

The loan you can get ranges from $1,000 to $35,000. The loan can be used to do home improvements, weddings, medical expenses, debt consolidation, family vacations, auto repairs, and so on.

Note though that PersonalLoans.com is not the company providing you with the loan. Instead, it is a website that connects you with suitable lenders.

How to apply for personal loan through PersonalLoans.com

You can apply for personal loan by first filling out an online request form.

You will then get to fill in the basic eligibility requirements. The details of the amount of the loan you want is also highlighted.

After you have filled in and submitted your loan request, PersonalLoans.com will go to work and search the network of their lenders for the best loan offer for you.

One of the team members here at Kingged.com also tried this and didn’t have any problems.

If the loan is found, you will be directed to the lender’s offer page. The lender may also have you fill out some details before getting an approval for the loan.

If the loan is right, you can accept the terms and the funds will be deposited right into your bank account.

Why choose PersonalLoans.com

• You can access personal loans from $1,000 to up to $35,000.
• You can access loans from a network of lenders.
• You don’t pay any pricey hidden charges, membership fees, or set-up fees.

Click here to check out PersonalLoans.com

 

2. Prosper

Prosper is another well known and reputable loan company.

It is based in the US and backed by leading investors that include Sequoia Capital, Francisco Partners, Institutional Venture Partners, and Credit Suisse NEXT Fund.

This company is also a peer-to-peer lending marketplace. You can borrow money from this company or you can invest to receive financial and social rewards.

If you want a personal loan from $2,000 up to $40,000, then using this marketplace could be a good fit for you.

How to apply for Personal Loan with Prosper

You can start by checking the lowest eligible rates for your loan. After answering a few questions, you can get your rate instantly.

Whether small personal loans or other types of loans, you can choose the loan that works best for you based on the rate associated with each.

After approval, the loan can be sent straight to your bank account by direct deposit.

Why choose Proper for your Personal Loan

• Checking your rate will also not affect your credit score.
• You can get a loan that is tailored to your financial needs, i.e. home improvement, debt consolidation, health emergencies, urgent bills, etc.
• You save money with no prepayment.
• You get a loan with a low, fixed rate that will never goes up.
• You can repay your debt in a budget-friendly, single monthly payment.
• You can get your loan within 5 days of accepting the loan offer.
• Your loan is directly deposited into your bank account.

Click here to check out Proper

 

3. Pentagon Federal Credit Union or PenFed

Pentagon Federal Credit Union also known as PenFed operates as a credit union. It is member-owned and operated and the members are provided with credit at competitive rates.

This federal credit union is based in the United States and headquartered in Virginia.

You can get a personal loan from this Credit Union if you are a member.

There are lots of benefits with becoming a member with PenFed.

You can get a quick personal loan for your home renovation, debt consolidation, auto repairs, travel and vacation or whatever you need the money for.

Talking about travel, you can still apply for this loan even if you have one of those jobs that require some form of travel. What’s important is that you meet all the other requirements for approval.

How to apply for personal loans with PenFed

You can join the PENFED Credit Union depending on your employment, if you are associated with someone who meets the employment credentials, by volunteering or by military affiliation.

You enter your name, phone number, email and address to get started.

Then you open a savings account with just a $5 initial deposit.

You can then apply for a personal loan after your membership is established.

Why choose personal loan from Pentagon Federal Credit Union

• You get immediate access to funds for your financial needs.
• You pay zero original or closing costs and there are no hidden costs.
• You access loans with APR as low as 6.45%.
• You access loans with terms up to 60 months.

Click here to check out Pentagon Federal Credit Union

 

4. Upgrade

Upgrade is another reputable and popular online lending platform. This company’s headquarters are based in San Francisco. Its other major offices are in Phoenix, Montreal and Chicago.

You can get access to personal loans at a lower cost than you would with many other companies.

According to them:

“Upgrade’s founding team pioneered online lending on the premise that an online platform would operate at a lower cost and deliver a better customer experience than traditional banking.”

Personal loans you can access from this platform will range from $1,000 to $50,000.

How to access personal loans from Upgrade

You simply start by filling a one-page online application to check your best rate for the loan you want.

You will then be provided with the best loan offer with a rate that will never increase.

After you are approved and you accept the loan offer, the amount is then credited into your bank account within a day of clearing the necessary verification.

Why choose personal loan from Upgrade

• You can access loans up to $50,000.
• You can get access to low fixed rates with APRs as low as 6.99%.
• You enjoy affordable monthly payments.
• You don’t pay prepayment fees.
• You will pay an origination fee of between 1% and 6%, and this will be deducted from the loan amount.
• You can access a loan of up to 36 months.

Click here to check out Upgrade

 

5. LightStream

LightStream is a subsidiary of SunTrust Bank. It is an online consumer lending division of SunTrust Bank.

You can access a variety of loans from this company.

According to them:

“LightStream delivers a revolutionary loan experience that allows customers to focus on their purchase, rather than on their financing.

With our innovative lending products and proprietary technology, consumers with strong credit profiles can receive highly competitive, fixed rate financing via an easy, fast and virtually paperless loan process.

From the convenience and comfort of their computer or mobile device, customers can apply, be approved, sign their loan agreement and receive their funds, as soon as the same day of their application.”

How to apply for a personal loan from LightStream

You can access personal loans from $5,000 up to $100,000 (yes, $100,000!).

This loan can be used for different purposes including: home improvement, a wedding, debt consolidation, auto repairs, recreation, medical, education, or almost anything.

• You can apply for your loan online and within a short time you should receive a response.
• You have to accept and e-sign the loan agreement in order to set up your funding.
• Once you have met the basic requirements, you will receive the loan directly into your bank account.

One of the team members at Kingged.com tried the application and it was as seamless as advertised.

Why choose LightStream personal loans

• You apply in minutes and have funds in your account as soon as today.
• You get to access a loan from $5,000 to $100,000
• You will enjoy fixed low rates on your loan from 3.84% to 16.99%.
• When you are approved for a LightStream loan you have 30 days to have the funds transferred into your account.
• No prepayment fees.
• You get lower rates when you AutoPay.

Click here to check out LightStream

 

6. LendingPoint

LendingPoint is a financial service company where you can access quick personal loans as quickly as the next business day.

This personal loan company helps you to get the funds you deserve without examining your full credit history.

The loan you access from this company can be used for any of your personal needs. The loans can also be used to consolidate other loans.

And of course you can use it for whatever you want to do – whether kitchen remodeling,  auto repairs, etc.

How to apply for Lending Point personal loan

• You can access the Apply page and fill in your information with the amount you want to borrow.
• You will choose the loan amount you want and fill in what you want the loan for.
• If you accept the rate and your loan gets approved, the amount gets credited to your bank account.

Why choose Personal loan from LendingPoint

• You can access loans from $2,000 to $25,000.
• Your loan request is approved based on your credit.
• Your loan approval is quick and you can have the funds deposited as quickly as the next business day.
• You don’t pay a prepayment or early payoff fee.
• You can receive another loan even if you have an existing LendingPoint loan.
• Checking an offer will not affect your credit score.
• You can easily be approved if your credit score is in the 600s.
• You can make easy, automatic and affordable online payments in 24 to 48 month terms.

Click here to checkout LendingPoint

Also See: Transferring Money From Credit Card to Bank Account

 

7. Wells Fargo

Wells Fargo is another very reputable and well known multinational financial company based in the United States.

This company offers various types of financial services that include banking, asset management, financial investment, insurance and so on.

Talking about financial investment, check out some of the best investment money apps that help investors get great results.

You can take advantage of the personal loans offered by this company and enjoy amazing benefits.

The loan can be used to pay for any of your immediate financial needs. These can include: debt consolidation, going on vacation, home or kitchen remodeling, medical bills, and even for school.

Wells Fargo personal loans come with low rates and repayment terms.

How to apply for Wells Fargo personal loan

To get approved and to receive your personal loan from Wells Fargo, you need to apply in three steps:

1. You will apply online. You will have to put in your personal information, employment and income information and the desired amount you want to borrow.

2. You will then need to verify your information if the loan application is approved.

3. You can access your funds after the closing process is completed.

As far as providing details of your employment, this and other lending companies are a bit funny with those doing online jobs working from home.

If you are engaged in an online job, especially self-employed online job, you can still apply if you evidence of source of earnings.

Why choose a Wells Fargo Personal loan

• You can access loans from $3,000 up to $100,000.
• You will get your approved funds as soon as the next business day.
• You will not pay any origination fees or prepayment penalties.
• You will enjoy a fixed rate, fixed term, and fixed monthly payment.
• You will enjoy discounts for making automatic payments if you are a qualified customer.
• There is a simple loan application and funding is easy.

Click here to checkout Wells Fargo

Click here to see why being an Entrepreneur is Important & Secret Tips to Help You Succeed!

 

8. PNC Bank

PNC Bank is another well known and reputable banking and financial service company. It provides a variety of banking and financial services to its customers.

The bank is based in Pennsylvania but with more than 2,400 branches in the US. It is ranked as the 9th largest bank in the United States as of June 30, 2018.

You can access various financial services from PNC Bank. Among these are personal loans and lines of credit.

You can use the personal loan to meet various types of personal expenses. These may include home improvements, loan consolidation, auto repairs, medical bills, school fees, and other financial needs.

While some may use such loans for fun things like buying used boats or or even weird things like buying feet pics, you shouldn’t. Personal loans are better used for pressing emergencies.

There are three major types of personal loans from PNC Bank. These are:

1. Personal Installment Loans – Unsecured.
2. Personal Installment Loans – Secured.
3. Personal Lines Of Credit.

Each of these has its own terms and requirements.

How to apply for PNC Bank Personal loan

For the personal installment loan – unsecured loan if you have bad credit, you can apply online.

For the secured loan and line of credit, you will have to locate a branch and fill out your application.

You can fill in your loan details on the online page. The details include the zip code of the city you reside in, the purpose of the loan and other details.

The application takes 6 steps to complete.

Once approved, you will receive your loan.

Why choose PNC Bank

• You can access personal loans from $1,000 to $35,000.
• You can apply online, by phone or at a branch.
• You will access fixed rates.
• You get access to funds in a one-time lump sum.
• You loan repayment is in installments with a fixed term.
• You pay no penalty for repayment in full at any time.
• You don’t need to submit any collateral.

Click here to check out PNC Bank

Also See: Business Ideas That Work For Women (Including One That Made Danielle $270,000 From Just 90 Buyers!)

 

9. Lending Club

Lending Club is a company that can provide you with personal loan of up to $40,000. It is a popular online lender with an easy application, high approvals and easy repayment terms.

This is a peer-to-peer lending platform based in the U.S.

With this loan you can get from Lending Club you can get the money you  need to solve pressing problems.

You use the quick money to do home improvements, pay unexpected bills, refinance your credit cards, and even consolidate your debt.

How to apply for personal loan with Lending Club

Lending Club loans are easy to apply for.

You can log on to the website online, provide quick information about yourself and how much you want to borrow and review your monthly payment and interest rate options.

You can then select a loan offer afterwards.

After completion and approval of the application, your loan is automatically deposited into your bank account within 7 days.

Why you should choose Lending Club

• You can apply online with ease.
• You can apply for the loan if your lending credit score is a minimum of 600.
• You can get your money in as little as 7 days.
• Your loan comes with fixed monthly payments.
• You can enjoy low, fixed interest rates. The APR ranges can be as low as 6.16%.
• You can make payments automatically from your bank account.
• No prepayment penalties.
• The company has a 4+ Average customer rating.
• Checking your rate will not affect your credit score.

Click here to check out Lending Club

Also See: Ways To Easily Make as Much as 1000 Dollars Fast.

 

10. Earnin

Earnin is one of the top personal finance apps that allows you to access a personal loan instantly. The type of personal loan you can receive from this platform is a “payday loan.”

While it’s not one of the apps that make you money directly, it can get you the money you need as a loan.

According to their website:

“Earnin (formerly Activehours) is an app that gives you access to the pay you’ve earned – when you want it. You worked today? Get paid today.

Use the app to track your earnings as you go to work. Then, you can cash out those earnings to your bank. With Lightning Speed, the money will hit your bank account instantly.

On payday, when your usual paycheck hits your bank account, we’ll take back the money we gave you. We don’t work directly with your employer, so you’ll still receive your normal paycheck. We’ll deduct the money directly from your checking account.

Keep in mind, we don’t charge interest or fees. We let you pay what you think is fair by leaving a tip. So, the amount we debit will be the amount you’ve cashed out, plus any amount you’ve chosen to tip us.”

How to apply for the “personal loan” from Earnin

You must be an employee to cash out the funds from your paycheck when you want it. You need to have:

• “direct deposits from your employer into a checking account.
• a regular pay schedule (weekly, biweekly, semi-monthly, monthly).
• a fixed work location or an online timekeeping system at work“.

If you have a prepaid account or a savings account (whether you use a money saving app or not), you may not receive money because Earnin pays only through checking accounts.

Why choose Earnin

• You can cash out a maximum of $100 each day. This can be increased up to $500 as you keep using the app.
• You get paid the minute you leave work with no loans, fees, or hidden costs.

Click here to check out Earnin

Talking about having a prepaid account, do you know kids prepaid or debit cards now exist? If you have kids you can read more about these cards.

 

11. Credit Direct

Credit Direct is another reputable financial services company that gives out loans.

It can also be used to request a personal loan.

Personal loans taken from this company can be used for your various financial needs.

You can access from $1,000 to $40,000 as a loan from Credit Direct.

Any of your personal needs like credit card refinancing, vacations, weddings, debt consolidation, home improvements, medical expenses and more can be met with this unsecured loan.

How to apply for loan with Credit Direct

You can select the amount of the loan you want using their slider tool. This tool can help you choose up to $40,000.

After you have selected your loan amount, Credit Direct will review it and send you a proposal.

If you accept the proposal, you simply proceed by signing up for the loan.

Within 24 hours afterwards, the cash will be deposited into your bank account.

Why Choose Credit Direct

• You can access $1,000 to $40,000.
• You can get approved and have your bank account credited within 24 hours.
• Your information is encrypted providing safety and security.
• Your loan application can be completed in just minutes.

Click here to check out Credit Direct

 

12. Avant

Avant is a Chicago USA based financial service company. Its core mission is to lower the barriers and costs of borrowing.

Since it was founded in 2012, it has been looking to change the online lending industry!

This company also provides personal loans to individuals who are in need of urgent funds.

The loans can be used to meet different financial needs, including: unexpected medical expenses, auto repairs, debt consolidation, vacations, education, home improvements, weddings, and other similar expenses.

How to apply for Avant Personal loan

You can apply with Avant for your personal loan following an easy online process:

• You first check your loan options to see what you qualify for. Your full name, address, income and social security number will be required.
• You then select the best fit loan option. You can then accept the terms and e-sign your contract.
• You will then receive the approved funds right into your bank account within 24 hours.

Why choose Avant

• You can access personal loans that range from $2,000 to $35,000.
• The loan can be approved and deposited in your account as soon as the next business day.
• The APR of Avant personal loans range from 9.95% to 35.99%.
• The loan terms range from 24 to 60 months.
• Checking your loan options does not affect your credit score.
• Helpful customer support is available 7 days a week by phone, email and chat.

Click here to check out Avant

Also See: Hobbies That Can Make You Extra Money, whether you take out a loan or not.

 

13. FreedomPlus

FreedomPlus is another credible financial service company. It is based in Arizona, United States.

This company also offers personal loans to meet various financial needs of customers.

You can apply and get approved for loans to take care home improvement needs, medical expenses, debt consolidation, major expenses, vacation, wedding, auto repairs, and even moving expenses.

Personal loans from this company are easy to access. You will experience the “Freedom Five” of:

• Simple one fixed monthly payment.
• Personal service from real people who care.
• Fast access with same day loan decisions.
• Clear terms and no gotchas.
• Smart ways to meet your financial needs.

How to apply for FreedomPlus personal loans

• You can apply by completing the online application form.
• Your loan rates and options will be provided to you. Then you can make your credit decision.
• You can upload documents and sign a contract within same day.
• Your funds will be made available to you within 48 hours.

Why choose FreedomPlus

• You can access loans from $7,500 to $35,000.
• If approved, you will get your money within 48 hours.
• You can apply and be qualified the same day as the application process is quick and straightforward.
• You experience no hidden fees plus safe and secure transactions With Freedom Plus, you are more than your credit score.
• Your loan is affordable as the rate starts from 4.99% to 26.99%.
• You can repay the loan in 24 months to 60 months.

Click here to check out FreedomPlus

 

14. Eloan

Eloan is another top financial service company based in California, United States. It is one of the best online lending companies around.

Personal loans are granted by this company and you can apply for the funds you need for your unexpected expenses.

If you want quick money to fund unexpected expenses like auto expenses, medical expenses, debt consolidation, credit card debt, and so on, then check out Eloan personal loans.

How to apply with Eloan

You can apply for a personal loan from Eloan in 3 easy steps:

• You fill out an easy personal loan application online. Thereafter loan offers will be made available to you.
• You then select the offer and terms that best meet your needs.
• Your funds will then be credited to your account if your application is approved.

Why choose Eloan

• You can access personal loans from $2,000 to $35,000.
• Your money is approved and credited to your account within 24 hours or as early as the next business day.
• You do not pay any origination fee.
• You will access a simple loan application process with no hidden fees and no repayment penalties.
• You can use the monthly payment calculator to predict what your monthly personal loan payments might be.
• Interest rates start at 5.49%.

Click here to check out Eloan

 

15. Pioneer Services

Pioneer Services is a division of the MidCountry Bank. It provides financial services and lending to the military. This company has been providing this financial service for over 30 years.

Serving and retired military personnel can take advantage of the military personal loans provided by this company.

How to apply for loan with Pioneer Services

At Pioneer Services, you can apply for personal loans in any of these three ways:

• Online – with a computer, mobile device or tablet.
• By phone.
• In person.

You can fill out the online application form and provide all the required information.

You can then submit and get your loan approved.

The funds will be deposited directly into your bank account after the approval.

The whole process is simple, secure, convenient, and free of charge.

Why choose Pioneer Services

• You will enjoy a fast, confidential application process.
• You can get loans from $500 – $10,000 with flexible terms.
• Your loan is backed by a 15-Day Change Your Mind Guarantee.
• You can access the available optional allotment payment.

Click here to check out Pioneer Services

 

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Lastly, whether you take out a personal loan or not, how will you like to share your thoughts and opinions and get paid $5 to $50 every single day?

I know this might not help with whatever financial issues you need a loan for, but every dollar can add up, even if it’s to help you repay some of the loan eventually.

If getting $5 to $50 daily just from sharing your thoughts and opinions appeals to you, click here to check out this Survey company.

They have millions of members and have paid millions out over the last several years. They are 100% legit and you don’t even have to pay a dime to join.

Click Here To Join For Free, whether you end up taking out a personal loan or not.

 

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