Best Personal Loans in Vancouver, WA: Top Lenders & Best Picks for You

LightStream was formed in 2019 due to a merger of SunTrust and BB&T. It is the online lending platform of Truist and MoneyGeek’s top pick as the best overall personal loan lender in Vancouver, Washington. LightStream personal loans may be used for debt consolidation, birthdays, funerals and home renovations.

This lender offers loans starting from $5,000 up to a maximum of $100,000, which can be repaid within 24 to 84 months. Borrowers need a minimum credit score of 660 to apply with LightStream. Funds are disbursed within the same day or the next banking business day once approved.

LightStream lets its borrowers save on fees because it doesn’t charge late, origination or prepayment penalty fees. Borrowers who want to pay ahead of their due date may do so without incurring additional costs.

On the other hand, this lender has a somewhat high maximum APR. LightStream also imposes limitations on fund usage. Borrowers cannot use the funds for business expenses, gambling, secondary education and more.

Upstart was founded in 2012 and uses artificial intelligence (AI) to review a borrower’s eligibility for a personal loan. It offers personal loans to Vancouver, Washington, residents with bad or incomplete credit.

Upstart allows its borrowers to use the funds for home improvement projects, debt consolidation, medical expenses and more. It also has a car refinancing service, which may be enticing for some. While this lender isn’t stringent with credit score requirements, it scrutinizes a borrower’s employment status and income.

Borrowers can typically receive their funds the next day after approval. But it’s notable that this lender charges late and origination fees and has a potentially high APR. That said, well-qualified borrowers can get a low interest rate.

Vancouver residents with low incomes can check other lenders that may suit them better.

Social Finance, or SoFi, was founded in 2011 as a student loan refinancing company. In 2015, it began offering personal loans. Vancouver residents might want to explore SoFi since it offers mortgages, credit cards, car refinancing and more.

Borrowers with good credit fare best with SoFi. It requires a minimum credit score of 680 to apply. This lender does soft credit checks and offers an autopay discount, which is convenient for those who prefer online payments.

However, SoFi requires a high minimum loan amount of $5,000. SoFi borrowers have access to a wide variety of repayment term periods, ranging from 12 to 60 months. This lender doesn’t charge origination or prepayment penalties. Through its unemployment protection program, it also protects its customers if they lose their jobs involuntarily.

Finally, while SoFi’s minimum APR is high, its maximum rate is very reasonable.

Upgrade was founded in 2017 and is currently headquartered in San Francisco, California. This lender made over $19 billion of credit accessible to its clients in the past five years. Aside from personal loans, Upgrade also offers credit cards, savings accounts and rewards checking.

MoneyGeek determined that Upgrade is the best lender for debt consolidation in Vancouver, Washington, in large part because it pays third-party creditors directly. Upgrade conducts soft credit checks during rate inquiries, which won’t affect credit scores.

Upgrade requires a minimum personal loan amount of $1,000 and a maximum of $50,000. It can be repaid within 36 to 60 months, which is a wider range of repayment term options than most competitors. Plus, it releases funds within one business day.

However, this lender charges origination and late fees, and personal loans come with a potentially high APR. Borrowers with excellent credit scores may find more competitive rates from other lenders.

Vancouver residents who want to make home improvements fare best with Best Egg. Best Egg personal loans range from $2,000 to $50,000. It requires a minimum credit score of 700 and an annual income of at least $50,000. This lender conducts soft credit checks, which don’t affect credit scores.

However, a hard credit check may affect credit scores once the loan offer is accepted. Best Egg doesn’t accept borrowers with new or zero credit. Those with poor credit scores may find other suitable lenders.

Best Egg only lends up to $50,000 for personal loans, so if your home needs extensive improvements, Best Egg may not be able to fund them.