1. SoFi
- Best for: Borrowers with good to excellent credit seeking high loan amounts and no fees.
- Loan Amounts: $5,000 – $100,000
- APR: 8.99% – 29.99%
- Terms: 2 to 7 years
- Highlights:
- No origination, prepayment, or late fees
- Unemployment protection program
- Access to financial planning services
- Considerations:
- Requires a minimum credit score of 650
- Not ideal for those with fair or poor credit(nerdwallet.com, voltavibes.com, moneyrates.com)
2. LightStream
- Best for: Home improvement loans and borrowers with excellent credit.
- Loan Amounts: $5,000 – $100,000
- APR: 6.49% – 25.29%
- Terms: 2 to 12 years
- Highlights:
- No fees and same-day funding
- Rate Beat Program: Will beat a competitor’s rate by 0.10%
- Considerations:
- Requires a minimum credit score of 660
- No pre-qualification option(voltavibes.com, nerdwallet.com, mymillennialguide.com)
3. Upgrade
- Best for: Borrowers with fair to good credit seeking flexible repayment options.
- Loan Amounts: $1,000 – $50,000
- APR: 6.99% – 35.99%
- Terms: 2 to 7 years
- Highlights:
- Offers secured and unsecured loans
- Provides free credit monitoring tools
- Considerations:
- Charges an origination fee up to 8.99%
- May have higher APRs for lower credit scores(nerdwallet.com, moneyrates.com, money.usnews.com, voltavibes.com, consumeraffairs.com)
4. Best Egg
- Best for: Borrowers with good credit seeking quick funding.
- Loan Amounts: $2,000 – $50,000
- APR: 6.99% – 35.99%
- Terms: 3 to 5 years
- Highlights:
- Fast funding, often the next business day
- High customer satisfaction ratings
- Considerations:
- Origination fees ranging from 0.99% to 5.99%
- Not available in all states(nerdwallet.com, money.usnews.com, moneyrates.com, consumeraffairs.com, millennialmoney.com)
5. Upstart
- Best for: Borrowers with limited credit history or non-traditional income sources.
- Loan Amounts: $1,000 – $50,000
- APR: 7.40% – 35.99%
- Terms: 3 to 5 years
- Highlights:
- AI-driven underwriting considers education and job history
- Quick funding, often within one business day
- Considerations:
- Origination fees up to 8%
- Higher APRs for lower credit scores(money.usnews.com, consumeraffairs.com)
6. LendingClub
- Best for: Joint personal loans and debt consolidation.
- Loan Amounts: $1,000 – $40,000
- APR: 7.90% – 35.99%
- Terms: 3 to 5 years
- Highlights:
- Allows co-borrowers to strengthen applications
- Offers direct payment to creditors for debt consolidation
- Considerations:
- Origination fees ranging from 3% to 6%
- May take longer to fund than some competitors(nerdwallet.com)
7. Discover Personal Loans
- Best for: Borrowers seeking no fees and flexible repayment options.
- Loan Amounts: $2,500 – $35,000
- APR: 6.99% – 24.99%
- Terms: 3 to 7 years
- Highlights:
- No origination fees, closing costs, or prepayment penalties
- 24/7 customer service
- Considerations:
- Requires a minimum credit score of 660
- Loan amounts capped at $35,000(voltavibes.com, mymillennialguide.com, consumeraffairs.com)
8. Marcus by Goldman Sachs
- Best for: Borrowers seeking no-fee loans with customizable payment options.
- Loan Amounts: $3,500 – $40,000
- APR: 6.99% – 24.99%
- Terms: 3 to 6 years
- Highlights:
- No fees whatsoever
- Ability to change payment due date
- Considerations:
- Requires good to excellent credit
- No co-signers or joint applications allowed(nerdwallet.com, consumeraffairs.com, voltavibes.com, mymillennialguide.com, moneyrates.com)
9. PenFed Credit Union
- Best for: Credit union members seeking competitive rates and no fees.
- Loan Amounts: $600 – $50,000
- APR: 8.99% – 17.99%
- Terms: 1 to 5 years
- Highlights:
- No origination or prepayment fees
- Offers loans as low as $600
- Considerations:
- Membership required to apply
- Limited branch locations(money.usnews.com, voltavibes.com)
10. Navy Federal Credit Union
- Best for: Military members and their families seeking personalized service.
- Loan Amounts: $250 – $50,000
- APR: 7.49% – 18.00%
- Terms: Up to 5 years
- Highlights:
- Offers small loan amounts starting at $250
- Dedicated support for military members
- Considerations:
- Membership limited to military and their families
- May have longer funding times
📊 Comparison Table
| Lender | Loan Amounts | APR Range | Terms | Fees | Minimum Credit Score |
|---|---|---|---|---|---|
| SoFi | $5K – $100K | 8.99% – 29.99% | 2 – 7 years | None | 650 |
| LightStream | $5K – $100K | 6.49% – 25.29% | 2 – 12 years | None | 660 |
| Upgrade | $1K – $50K | 6.99% – 35.99% | 2 – 7 years | Up to 8.99% | 600 |
| Best Egg | $2K – $50K | 6.99% – 35.99% | 3 – 5 years | 0.99% – 5.99% | 640 |
| Upstart | $1K – $50K | 7.40% – 35.99% | 3 – 5 years | Up to 8% | 300 |
| LendingClub | $1K – $40K | 7.90% – 35.99% | 3 – 5 years | 3% – 6% | 600 |
| Discover | $2.5K – $35K | 6.99% – 24.99% | 3 – 7 years | None | 660 |
| Marcus by Goldman Sachs | $3.5K – $40K | 6.99% – 24.99% | 3 – 6 years | None | 660 |
| PenFed Credit Union | $600 – $50K | 8.99% – 17.99% | 1 – 5 years | None | Not disclosed |
| Navy |
