Best Personal Loans in Clarksville, TN

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Updated: October 29, 2024

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Fortera Credit Union is the best personal loan lender in Clarksville, Tennessee, with a MoneyGeek score of 99 out of 100. It offers quality service, competitive interest rates and a quick application and approval process. Laurel Road is the best lender for online personal loans, with a MoneyGeek score of 93 out of 100. It provides strong customer service, broad repayment terms and credibility and transparency about its loan terms and process.

MoneyGeek prioritized local lenders and scored them based on factors like interest rates, loan terms, loan application process and speed of loan funding to gather our best city recommendations. If you're looking for national lenders, we compiled our top picks for the best personal loans in Tennessee.

MoneyGeek analyzed hundreds of lenders based on a rubric that includes APR ranges, loan amounts and repayment terms, among other key areas. We use a point-based system, assigning scores according to the presence or absence of certain desirable features in various critical categories.

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Our overall analysis was completed in August 2024. Here we considered banks and credit unions with brick and mortar locations in Clarksville, Tennessee. We also looked at online-only lenders licensed to do business in the state.

325Lenders Analyzed Nationally

Overall Best Personal Loan in Clarksville, TN

Company logo for Fortera Credit Union
Fortera Credit Union
MoneyGeek Score99
APR Range10.99% to 18.00%
Loan Amount Range$500 to $40,000
Repayment Terms36 to 60 months
Time to Receive FundsUndisclosed
Overview

Fortera Credit Union is the best personal loan lender in Clarksville, Tennessee, earning a MoneyGeek score of 99 out of 100. It is federally insured by the NCUA, providing added peace of mind for borrowers. It allows joint applications, which can benefit those looking to combine incomes for a larger loan amount. However, the borrowing limit of $40,000 may not be sufficient for those needing a larger loan. It also charges a returned loan payment fee of $31, which could add to overall costs if payments are missed.

Best Online Personal Loan in Clarksville, TN

Company logo for Laurel Road
Laurel Road
MoneyGeek Score93
APR Range9.49% to 24.50%
Loan Amount Range$5,000 to $45,000
Repayment Terms36 to 60 months
Time to Receive FundsWithin 7 Days
Overview

Laurel Road is the best online lender for personal loans in Clarksville, Tennessee, with a MoneyGeek score of 93 out of 100. Its personal loan offerings range from $5,000 to $45,000, with repayment terms spanning 36 to 60 months. It has a 0.25% autopay discount and an absence of origination fees, which can make the loan more affordable over time. However, the minimum loan amount is relatively high, which might not suit those who need a smaller sum. Additionally, a late fee of either 5% or $28 applies, which could concern those worried about making payments on time.

Calculate Your Monthly Payment in Clarksville, TN

The United States Census Bureau reported that the median annual household income in Clarksville, Tennessee, in 2022 was $63,723. Whether your income is above or below the median value, your ability to afford the monthly loan payments matters most. Use our personal loan calculator to estimate your monthly loan payments and the total cost of the loan by entering the loan amount, rate and terms.

For example, if you take out a $10,000 personal loan with a 10% interest rate and a three-year repayment term, your monthly payment will be $323 and your annual payment will be $3,876. This amount represents about 6% of the median annual household income in Clarksville, Tennessee.

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Estimate the monthly payment for your loan.

Updated: Nov 21, 2024

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Runner-Up for Best Personal Loan in Clarksville, TN

Company logo for Cornerstone Financial Credit Union
Cornerstone Financial Credit Union
MoneyGeek Score93
APR RangeFrom 13%
Loan Amount RangeUp to $75,000
Repayment Terms36 to 60 months
Time to Receive FundsUndisclosed
Overview

Cornerstone Financial Credit Union is the runner-up for the best personal loans in Clarksville, Tennessee, with a MoneyGeek score of 93 out of 100. It offers the ability to borrow up to $75,000 and provides a mobile app for managing loans, which can be convenient for many borrowers. However, there is no prequalification option, meaning potential borrowers may need to go through a hard credit check. The lender also does not mention rate discounts on its website, which may make its interest rates less competitive.

Other Options for Personal Loans in Clarksville, TN

Company logo for Gateway Credit Union
Gateway Credit Union
MoneyGeek Score85
APR Range12.25% to 18.00%
Loan Amount RangeUndisclosed
Repayment TermsUp to 60 months
Time to Receive FundsUndisclosed
Overview

Gateway Credit Union is a suitable choice for personal loans in Clarksville, Tennessee, with a MoneyGeek score of 85 out of 100. It is federally insured by the NCUA, ensuring your funds are secure. It also has an A+ rating from the Better Business Bureau, reinforcing its reliability. However, a membership is needed to apply, which could be a barrier for some. There is also no option to apply online, which might be inconvenient for those who prefer digital processes.

National Lenders With Physical Locations in Clarksville, TN

Residents of Clarksville, Tennessee, seeking the best personal loans and wishing to interact face-to-face can find options with national lenders present in the city. Loan seekers can explore services from U.S. Bank and OneMain Financial, which have operations in Clarksville, Tennessee, and offer personalized assistance for personal loan products.

OneMain Financial18.00% to 35.99%$1,500 to $20,00024 to 60 months
U.S. Bank8.74% to 24.99%$1,000 to $50,00012 to 84 months

What to Do if You Can't Get a Personal Loan in Clarksville, TN

Your personal loan application in Clarksville, Tennessee, can get denied due to various reasons, like a low credit score, negative financial history or an unfavorable debt-to-income ratio. If this happens, there are some steps you can take to navigate this setback.

  1. 1
    Find out the reason for the denial

    Some lenders may deny your loan application due to a poor credit score, high debt-to-income ratio, low income level or errors in your application. Review the reasons to improve your weak areas and prevent another loan application denial in the future.

  2. 2
    Modify your loan terms

    You can try asking your lender if you can adjust the loan amount or repayment terms to get approved.

  3. 3
    Look for another lender

    Different lenders have varying eligibility criteria for personal loan approval. Shopping around and considering factors such as minimum credit score requirements, interest rates, loan terms, additional fees and customer service helps you find the best lender for your particular needs and circumstances.

  4. 4
    Explore credit counseling services

    Lenders often look at your debt-to-income ratio when evaluating your loan application. You may consider a credit counseling agency to manage your credit card debt better and develop your budget. You can search for credit counseling services from the Department of Justice's list of approved credit counseling agencies. You can also visit the website of the National Foundation for Credit Counseling for assistance.

FAQ About Personal Loans in Clarksville, TN

We addressed frequently asked questions about the best personal loans in Clarksville, Tennessee, offering valuable insight to aid your decision-making process.

Who is the best overall personal loan lender in Clarksville, Tennessee?
What are personal loans used for in Clarksville, Tennessee?
What are the interest rates on personal loans in Clarksville, Tennessee?
What are the benefits and drawbacks of personal loans?
What are some personal loan red flags to look out for?
How to apply for a personal loan online?
Can I get a personal loan with bad credit in Clarksville, Tennessee?
What are the best low-interest personal loans in Clarksville, Tennessee?
What is an installment loan? Is there a difference between personal loans and installment loans in Clarksville, Tennessee?
Is there a difference between credit union loans and bank loans in Clarksville, Tennessee?

About Zachary Romeo, CBCA

Zachary Romeo, CBCA headshot

Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.

Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.

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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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