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Best Personal Loans in Pittsburgh, PA

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Updated: November 21, 2024

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WHAT WE’RE GEEKING OUT ON

MoneyGeek’s Pick for Best Personal Loan Lender in Pittsburgh: Truist

MoneyGeek analyzed the personal loan products of many different lenders and found the ones that offer the best personal loans in Pittsburgh, PA. Our analysis was based on BBB rating, loan amount, repayment term length, interest rates, origination fee, credit score requirements, income requirements, debt-to-income ratio and many other important attributes.

MoneyGeek’s analysis shows that Truist is the best personal loan lender in Pittsburgh. That said, Upstart and SoFi offer the best personal loans for Pittsburgh residents with bad and good credit, respectively.

Best Overall Personal Loan Lender in Pittsburgh, PA: Truist


  • Truist
    • 8.14% to 18.99%APR Range
    • NoneMinimum Credit Score
    • $3,500 to $50,000Loan Amount Range
    • 6 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    MoneyGeek analyzed different personal loan lenders and found Truist to be the overall best option in Pittsburgh, PA. Truist was formed after the merger of BB&T Bank and SunTrust in 2019. Since Truist does not charge an origination fee on its primary personal loan product, while offering next-day funding and a temporary relaxation in payments in case of financial hardship, MoneyGeek chose it to be the overall best lender in the city.

    The company offers two personal loan products: standard personal loans and the Ready Now loan. The company’s standard personal loan lets you borrow up to $50,000, which can be used to cover home improvements, pay medical bills, consolidate debt, fund vacations and more. On the other hand, the Ready Now loan can help you pay for any emergency expenses up to $1,000.

    Pros

    • No origination fee
    • No prepayment penalty
    • No late payment fee
    • Offers same-day funding option
    • Offers joint loans

    Cons

    • High minimum APR
    • Does not accept people with new or no credit
    • Does not allow cosigners
    • Restricts fund usage
    • Conducts hard credit inquiry
    • APR range: 8.14%–18.99%
    • Minimum/maximum loan amount: $3,500–$50,000
    • Minimum credit requirements: None
    • Repayment terms: 6–60 months
    • Time to receive funds: Next day
    Truist

Best Personal Loan Lender for Bad Credit in Pittsburgh, PA: 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

    Since Upstart does not have a strict credit score requirement for its loans, MoneyGeek found it to be the best option for individuals with bad credit scores in Pittsburgh. The company was founded in 2012.

    The company allows you to check if you qualify for their loan online and performs soft credit inquiries, not affecting your credit scores. Once Upstart approves your loan, the funds will be available for your use in two days or less. The company also allows you to apply for a second loan if you still have an outstanding loan. However, you will only be approved if you have been responsibly making payments.

    With Upstart, you can manage your loan online through its borrower’s dashboard. However, the company does not offer a mobile app for its borrowers.

    Pros

    • Next-day funding available
    • No prepayment penalty
    • Low credit score requirement
    • Soft credit inquiry that doesn’t affect credit score
    • Low income requirement

    Cons

    • Potentially high interest rates
    • Debt-to-income limit of 45%
    • No mobile app
    • APR range: 3.22%–35.99%
    • Minimum/maximum loan amount: $1,000–$50,000
    • Minimum credit requirements: 300
    • Repayment terms: 36–60 months
    • Time to receive funds: 1–2 days
    Upstart

Best Personal Loan Lender for Good Credit in Pittsburgh, PA: 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 started in 2011 by initially offering student loan refinancing. Nowadays, the company also offers personal loans, mortgages and other financial products. MoneyGeek’s research shows that SoFi provides the best personal loans for Pittsburgh residents with good credit scores.

    The company allows you to apply for a joint loan with a co-borrower, who helps you qualify for the loan and takes on the responsibility of payments. However, the company does not allow co-signers. It can take a few weeks to get approval for a loan if you have applied with a co-borrower. SoFi also offers several member benefits, including unemployment protection and the ability to take out multiple loans.

    SoFi offers relatively low interest rates, but we will note that it also has a high minimum income requirement and debt-to-income limits of 43%.

    Pros

    • No origination fee
    • No prepayment penalty
    • No late payment fee
    • Auto payment discount of 0.3%
    • Soft credit inquiry that doesn’t affect your credit scores
    • No restrictions on fund usage

    Cons

    • No same-day funding available
    • High minimum credit score
    • $50,000 minimum gross income requirement
    • APR range: 5.74%–20.28%
    • Minimum/maximum loan amount: $5,000–$100,000
    • Minimum credit requirements: 680
    • Repayment terms: 12–60 months
    • Time to receive funds: Two days
    SoFi

Best Lender for Debt Consolidation in Pittsburgh, PA: 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

    MoneyGeek’s research shows that Upgrade offers the best personal loan for debt consolidation in Pittsburgh. The company was founded in 2016. It provides secured and unsecured personal loans, credit cards, auto loans and checking accounts to its customers.

    Upgrade directly pays your creditors if you take out a loan to consolidate your debt and offers funds as quickly as the same day you apply. It also allows individuals with fair credit scores to apply for a loan, and the personal loan amount can range from $1,000 to $50,000, making it a good option for individuals looking for smaller loans. With Upgrade, you get a strong 1% discount for setting up automatic payments. It also has a mobile app, which can be used to manage your loan online.

    However, Upgrade often charges high interest rates. If you have a good credit history, you might be able to find cheaper rates by shopping around and comparing quotes from different lenders.

    Pros

    • Soft credit inquiry that does not affect credit scores
    • Directly pays creditors in case of debt consolidation
    • No prepayment penalty
    • 1% auto payment discount
    • No income requirements

    Cons

    • High APR
    • High origination fee of 2.9%–8%
    • Restrictions on the usage of funds
    • APR range: 5.94%–35.47%
    • Minimum/maximum loan amount: $1,000–$50,000
    • Minimum credit requirements: 560
    • Repayment terms: 36–60 months
    • Time to receive funds: Same day
    Upgrade

Best Lender for Home Improvement in Pittsburgh, PA: 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

    MoneyGeek found that Best Egg offers the best personal loan in Pittsburgh for home improvement. The company was founded in 2014, and it’s owned by Marlette Funding, a financial services company.

    Best Egg provides online pre-qualification to borrowers and initially performs a soft credit inquiry, which won’t affect their credit scores. Usually, the borrowers can receive loan funds in their bank account the same day or the next day after approval. However, sometimes it can take up to three business days. With Best Egg, you can borrow amounts ranging from $2,000 to$50,000 and use the funds for different purposes, including debt consolidation, home improvements, travel, birth and adoption, weddings and more.

    However, the company charges a potentially high APR. Best Egg also has high minimum credit scores and gross income requirements for borrowers in Pittsburgh.

    Pros

    • No prepayment penalty
    • Direct payments for debt consolidation
    • Auto payment discount of 0.5%
    • Performs soft credit inquiries
    • No debt-to-income limits

    Cons

    • High interest rates
    • $50,000 minimum gross income requirement
    • High credit score requirement
    • APR range: 4.99%–35.99%
    • Minimum/maximum loan amount: $2,000–$50,000
    • Minimum credit requirements: 700
    • Repayment terms: 36–60 months
    • Time to receive funds: Next day
    Best Egg

HOW TO CHOOSE THE BEST PERSONAL LOAN LENDER IN Pittsburgh, PA FOR YOU

In Pennsylvania, the average personal loan debt is $27,165. While it’s perfectly fine to take out a loan to cover any upcoming or emergency expenses like medical bills, funerals, home improvements, debt consolidation or any other significant expense, you should always analyze your needs and financial situation first to choose the best option for you.

MoneyGeek recommends that you follow the steps below when looking for a personal loan provider.

  1. 1
    Ask Yourself the Important Questions

    It’s essential to consider a few things before applying for a loan. You can start by analyzing your current financial situation and whether getting a personal loan would positively affect it. See if you can cover your emergency needs or expenses in any other way, as a personal loan is a long-term commitment that can take a few years to pay off.

    Also, if you have any existing debt, it might be difficult for you to make monthly payments on the new loan. Lenders often have different requirements like income limits and minimum credit scores. Determine if you meet those requirements. You should ask yourself the following questions before proceeding:

    1. How much funding do I need?
    2. What is my credit score?
    3. Can I afford the monthly payment?
    4. How much debt do I already have?
  2. 2
    Do Your Research

    Each lender follows different criteria for analyzing your application and giving you a quote. Since the terms, conditions, rates and fees vary across different companies, they all follow various methods to process your application. MoneyGeek researched and analyzed the best personal loan options for you in this guide and reviewed the top companies' personal loan products.

    It's also a good idea to do your own research by shopping around and comparing the rates of different lenders. This is important as you'll be paying off your loan for an extended period (2–5 years), and it might affect your long-term personal goals.

    Also, do not apply for a personal loan until you have compared different lenders, as many lenders perform a hard credit check when you apply, which can negatively affect your credit scores.

  3. 3
    Wait

    Once you’re done comparing different lenders based on their features, offers, rates and fees, you should wait a few days to think through your decision. Take your time, think about your financial obligations and determine which lender would best fit your needs. As getting a personal loan is a big commitment, it’s best to reassess if taking one out is the best option for your financial situation.

  4. 4
    Read the Fine Print

    You should always look at the rates and fees associated with the personal loan before submitting an application. You will find this information in the lender’s loan agreement. While inquiring about the loan, it’s best to ask the lender about any upfront or hidden costs, including pre-payment penalties, late payment fees and origination fees.

    It’s important to go through the fine print of the personal loan thoroughly to understand how much you would be paying for it and whether your financial situation would allow you to continue making payments in the long run.

  5. 5
    Apply

    After you have made the final decision about the lender and analyzed every important factor, you can proceed with the application. At this point, you should have gathered all the information the lender might ask for while submitting the application.

    The lender will require personal identification, income details and address verification at this stage. There are many different ways of submitting an application. The easiest option would usually be to apply online. However, you can also call or visit the lender if available.

What to Do if You Can’t Get a Personal Loan in Pittsburgh, PA

You can be denied a personal loan for many different reasons, including bad credit scores, high debt-to-income ratio, low income, unstable employment or incomplete paperwork within your application. However, in many situations, the primary reason behind a denied loan is a low credit score.

The best way to proceed is to ask the lender to provide you with the reason for the denial of the loan application and work with them to improve it. While it may be tempting to apply with a different lender, you should avoid doing so until you have improved whatever factor caused you to be denied in the first place.

MoneyGeek advises against getting a payday loan as it has very high interest rates and can cause you to accumulate a lot of debt if you cannot make the payment on time.

Frequently Asked Questions About Personal Loans in Pittsburgh, PA

The best personal loan lender in Pittsburgh for you will depend on your needs, credit score and income requirements. MoneyGeek gathered answers to the following frequently asked questions to help you choose the right option.

What is the best personal loan lender in Pittsburgh, PA?
Which lender in Pittsburgh, PA has the lowest interest rate?
Can I use a personal loan for vacations in Pittsburgh, PA?
Can I use a personal loan for home improvement in Pittsburgh, PA?
What can I not use my personal loan for in Pittsburgh, PA?
How much can I borrow in Pittsburgh, PA?
How long does it take to get a personal loan in Pittsburgh, PA?
Can I pay off my loan early in Pittsburgh, PA?

Our Personal Loan Methodology

We reviewed more than 30 personal loan lenders using 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 considered several individual data points that we feel carry the most weight when choosing a personal loan lender. These factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.

Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible, like prequalification, payment options and mobile apps.

After careful consideration and calculation, our picks are determined with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing 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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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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