Best Personal Loans in Lincoln, NE: Top Lenders & Best Picks for You

Updated: October 29, 2024

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WHAT WE’RE GEEKING OUT ON

MoneyGeek's Picks for Best Personal Loan Lenders in Lincoln, NE

To help you find Lincoln’s best personal loan companies, MoneyGeek evaluated several lenders in the city using over 30 data points. This includes APR ranges, loan amounts, repayment terms, credit requirements, financing times and various other factors. These factors enabled us to identify the best lenders in the city.

Nonetheless, your needs and financial profile affect the top company for you. Whether you have good credit, bad credit or need to consolidate your loans, the ideal company for you could vary.

Best Overall Personal Loan Lender in Lincoln: LightStream


  • LightStream
    • 4.49% to 20.49%APR Range
    • 660Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Same DayTime to Receive Funds

    MoneyGeek’s study shows that LightStream is the overall best personal loan company in Lincoln. This lender allows you to borrow anywhere from $5,000 to $100,000 and pay for it in 24 to 84 months. It features a simple and digital loan application process.

    LightStream doesn’t charge origination and prepayment fees. Its loans come with relatively low-interest rates, a discount for setting up autopay and a Rate Beat program. Moreover, the company can fund loans on the day of application.

    However, not everyone may qualify for a LightStream personal loan, as it requires good-to-excellent credit. The company allows co-applicants but doesn’t have a pre-approval process.

    LightStream was founded in 2012 as the online lending arm of SunTrust (now Truist).

    Pros

    • No origination or prepayment fees
    • Offers an autopay discount
    • A+ BBB rating
    • No late fees

    Cons

    • Borrowers need good-to-excellent credit
    • No co-signers
    • Restrictions on fund usage
    • Hard credit inquiry
    • High minimum loan amount
    LightStream

Best Personal Loan Lender for Bad Credit in Lincoln: Upstart


  • Upstart
    • 3.22% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Upstart is MoneyGeek’s pick as the best personal loan company for borrowers with bad credit. This company leverages artificial intelligence (AI) and nonconventional factors during its loan application process. Unlike with other lenders, you can qualify for an Upstart loan with a FICO score of 300.

    Upstart allows you to borrow $1,000 to $50,000, which is payable for up to 60 months. This lender offers an entirely online loan application process and funds loans within the next business day. Moreover, it only performs a soft credit pull when checking rates, which is helpful for people who aren’t confident with their credit profile.

    You won’t have to deal with prepayment fees with Upstart, but its loans have origination fees.

    Upstart is a fintech company that has been in the industry since 2012.

    Pros

    • Allows borrowers with bad credit
    • Evaluates loans using nonconventional variables
    • Performs soft credit pulls to check rates
    • Doesn’t charge a prepayment penalty

    Cons

    • Loans come with origination fees
    • Low maximum loan amount
    • Late fees
    • No co-signers
    Upstart

Best Personal Loan Lender for Good Credit in Lincoln: SoFi


  • SoFi
    • 5.74% to 20.28%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • Two DaysTime to Receive Funds

    SoFi, also known as Social Finance, is an online financial services company that was established in 2011. It’s MoneyGeek’s choice as the best personal loan provider in Lincoln for people who have good credit.

    The company offers flexible loan options that go as high as $100,000. Moreover, it can fund loans within two days of application.

    With SoFi, you won’t have to deal with origination, prepayment and late payment fees. You can also receive a 0.25% discount by setting up autopay. Notably, this lender offers to temporarily modify your repayment schedule in case you become unemployed.

    Pros

    • Doesn’t charge origination, prepayment and late payment fees
    • Conducts a soft credit pull during prequalification
    • Autopay discount
    • Provides protection in case of unemployment
    • A+ BBB rating

    Cons

    • High credit score requirement
    • No co-signers
    • Won’t accept people with new or no credit
    • Income requirements
    SoFi

Best Personal Loan Lender for Debt Consolidation in Lincoln: Upgrade


  • Upgrade
    • 5.94% to 35.47%APR Range
    • 560Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds

    If you’re getting a personal loan in Lincoln to consolidate your debt, Upgrade is MoneyGeek’s pick as the best loan provider in the city.

    Upgrade allows you to borrow up to $50,000 to repay your liabilities. This amount can be sent to your creditors directly. The company’s offerings are flexible and convenient for people who are consolidating debt.

    Additionally, our research shows that you can get an Upgrade loan despite having a bad credit score. This lender also has a prequalification process that only requires a soft credit pull. Nonetheless, its loans feature an origination fee and late payment penalties.

    Although Upgrade has only been around since 2017, it has already provided loans and credit cards to more than 15 million people across the U.S.

    Pros

    • No early payment fees
    • Offers to pay creditors directly
    • Conducts soft credit pulls to check rates
    • Features autopay discount

    Cons

    • Origination fees
    • Late payment penalties
    • Loan amount is limited to $50,000
    • No co-signers
    • Fund usage restrictions
    Upgrade

Best Personal Loan Lender for Home Improvement in Lincoln: Best Egg


  • Best Egg
    • 4.99% to 35.99%APR Range
    • 700Minimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Best Egg is MoneyGeek’s pick as the best personal loan lender in Lincoln for people making home improvements. It’s an online lending platform owned by Marlette Holdings with loans underwritten by Cross River Bank and Blue Ridge Bank. The company has been around since 2014.

    You can get a $2,000 to $50,000 personal loan from Best Egg and repay it in up to 60 months. Paying off the loan early won’t result in prepayment fees, but you’ll be charged an origination fee for your loan.

    Best Egg claims to fund loans within the next day for some borrowers, but the process may take three days or longer for other people. In addition, the company has a relatively high APR.

    Pros

    • A+ BBB rating
    • Doesn’t charge early payment fees
    • Autopay discount
    • Quick funding

    Cons

    • Origination fees
    • Late fees
    • Low maximum loan amount
    • High credit score requirement
    • No co-signers
    Best Egg

Where to Start: How to Choose the Best Personal Loan Lender in Lincoln for You

On average, personal loan debt in Nebraska is $24,901. Personal loans are popular among Lincoln residents who are dealing with both planned and unplanned expenses.

Most companies allow you to get a personal loan online, but it’s recommended that you consider a number of factors before proceeding with your application. MoneyGeek laid out five crucial steps for you to take when getting a personal loan in Lincoln.

  1. 1

    Ask Yourself the Important Questions

    Ask yourself these important questions so you can be certain that getting a personal loan is the best choice available for you.

    • How much money do you need? Personal loans come with interest. Carefully study how much money you truly need for your specific purpose so you won’t pay interest for excess money.
    • What’s your credit score? You may find it difficult to get a lender’s approval if you have a bad credit rating. Check if you’ll be qualified to get a personal loan with your current FICO score.
    • Can you afford the monthly payment? Determine if you can repay the loan with your current budget. Remember that you’ll have to make monthly payments over the course of two to seven years.
    • Do you have existing debts? To assess your creditworthiness, companies will take a look at your existing debt. Having a low debt-to-income ratio may lead to loan rejection.
  2. 2

    Do Your Research

    Personal loan providers have different rates, fees and policies. It’s a good idea to research various lenders and compare their offers before making your decision. This is true even if you already have a preferred lender, as shopping around is the best way to get the lowest available rates.

    Check details like APR ranges, prepayment periods, miscellaneous fees and required credit scores. Likewise, review any limitations about the use of loan proceeds, as some companies disallow you from spending your loan on certain things.

    MoneyGeek gathered the important information you’ll need when getting a personal loan in Lincoln. Nonetheless, our research is based on assumptions, and our suggestions may not apply to your profile.

    We recommend that you do your own research to find the best offers available for you.

  3. 3

    Wait

    Getting a personal loan is a long-term financial commitment, so you need to be sure it’s the best choice for your needs. Like any other decision, it won’t hurt to wait a day or two before making your choice. Doing this will give you enough time to assess the situation with a fresh mind and an objective outlook.

    Personal loans come with high interest rates and are repaid over several years. If you’re getting a personal loan to fund unnecessary or leisurely expenses, consider saving for the amount instead. You can also explore more affordable options like home equity lines of credit and home equity loans.

  4. 4

    Read the Fine Print

    If you’ve reached this stage, you may have decided that getting a personal loan is the best solution for your financial needs. Now’s a good time to narrow your options and revisit their offers.

    Review the important details that you may have missed during your initial research. Look beyond the company’s marketing materials and study its fine print.

    Some of the details to check are early payment fees, origination fees, late payment penalties and miscellaneous fees that can add to your loan’s total expense. Doing this key step may result in substantial savings over time, as you’ll avoid unnecessary charges and a bad customer experience.

  5. 5

    Apply

    After you’ve assessed all your options in Lincoln and reviewed their offers, you probably have a preferred lender. If you feel good proceeding with this company, the time has come for you to apply for your personal loan.

    Prepare the documents that are usually asked for by loan providers. This usually includes your identification, proof of address, payslips and other statements related to your income.

    Most lenders in Lincoln have online loan application processes. You can use this convenient option so you can get a loan without leaving your home. Nonetheless, this shouldn’t stop you from calling or visiting your preferred lender’s branch if you want to learn more about their policies.

What to Do if You Can’t Get a Personal Loan in Lincoln

Your loan application may still get declined even though you’ve followed the company’s processes and submitted all the requirements. Personal loan providers in Lincoln deny loan applications due to low credit scores, insufficient income, incomplete documents and other reasons.

If you’re in this situation, don’t get disheartened. MoneyGeek suggests that you ask the exact reason why the company rejected your loan application.

You can call or email the lender so you can better understand their reasoning and identify issues in your profile that led to your loan rejection. Doing this is crucial to improving your creditworthiness, which gives you a better chance in your next loan application.

Except during emergencies, we also don’t advise that you apply for a personal loan from another company right away. It’s better to improve your financial profile and creditworthiness before going to another lender.

No matter how desperate you are, avoid payday loans. These are predatory in nature and will only lead you deeper into debt with their high interest rates and short repayment terms.

Frequently Asked Questions About Personal Loans in Lincoln

You have several options if you want to get a personal loan in Lincoln, but the best lender for you will depend on your needs, preferences, credit score and other income-related factors.

To help you make an informed decision, MoneyGeek responded to some frequently asked questions about the topic.

What is the best personal loan lender in Lincoln?

Which lender in Lincoln has the lowest interest rate?

Can I use a personal loan for vacations in Lincoln?

Can I use a personal loan for home improvement in Lincoln?

What can I not use my personal loan for in Lincoln?

How much can I borrow in Lincoln?

How long does it take to get a personal loan in Lincoln?

Can I pay off my loan early in Lincoln?

Our Personal Loan Methodology

METHODOLOGY

MoneyGeek ranked over 30 personal loan lenders using more than 35 individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Within each ranking criteria category, we studied variables that we feel carry the most weight when consumers choose a personal loan company. These factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.

MoneyGeek values you, the consumer, so we’ve also factored each lender’s customer support, business ratings, prequalification process, payment options, mobile apps and additional features that make your experience easier and more accessible.

After thorough consideration and calculation, our rankings are determined with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best choice when looking for a lender that meets your needs.

About Christopher Boston

Christopher Boston headshot

Christopher (Croix) Boston was the Head of Loans content at MoneyGeek, with over five years of experience researching higher education, mortgage and personal loans.

Boston has a bachelor's degree from the Seattle Pacific University. They pride themselves in using their skills and experience to create quality content that helps people save and spend efficiently.

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sources
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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.

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