The post Best Personal Loans in Georgia by Jacinta Sherris appeared first on Benzinga. Visit Benzinga to get more great content like this.
Quick Look: The Best Personal Loans in Georgia
- Best for Loan Comparison: Credible
- Best for Debt Consolidation: SoFi
- Best for Emergency Loans: Avant
- Best for Fair Credit Scores: LendingPoint
- Best for $0 Origination Fee: LightStream
Personal loans can give you quick access to a chunk of cash. Use a personal loan to roll credit card payments into 1 monthly payment or fund home renovations, your dream vacation and more.
You have your choice of brick-and-mortar and online lenders and choosing the best option can be daunting. Benzinga’s done the work for you — check out our list of the best personal loans in Georgia.
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Best Personal Loans in Georgia
It is increasingly important to be able to handle your finances online. Lenders have responded with great online loan options.
Here’s Benzinga’s list of the best personal loans from online platforms.
Credible
Credible ranks high in functionality with its simple, streamlined platform. Credible isn’t a lender — it’s an online service that compares custom-fit personal loans. You can qualify in minutes to evaluate potential loans without hurting your credit score.
After a short survey, Credible connects you to offers from willing lenders. Compare each loan to find the terms and rate that make the most sense for you.
In addition to personal loans, Credible works with lenders that provide student loans and mortgages. Refinancing for mortgages and student loans is also an option.
You’ll find personal loan options from 4.60% to 35.99% APR with terms that range from 1 to 7 years. Loan amounts range from $600 to $100,000.
***Disclosure: Requesting prequalified rates on Credible is free and doesn’t affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.
***Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states. www.nmlsconsumeraccess.org.
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NMLS# DISCLOSURE
Credible Operations, Inc. NMLS# 1681276
Credible. Not available in all states. www.nmlsconsumeraccess.org.
320 Blackwell Street Suite200 Durham, NC 27701
Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states.
All bonus payments are by gift card. See terms
Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.
Won’t impact your credit score DISCLOSURE: (May be in the footer, a tooltip, or a popup the user has to click on or scroll to see)
Requesting prequalified rates on Credible is free and doesn’t affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.
“We accept advertising compensation from companies that appear on this site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company lists on this page DO NOT imply endorsement. We do not feature all providers on the market.
We receive compensation from the companies below if you click on a link or purchase a product. Amount of compensation may impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
SoFi
SoFi is an online lender that can get you the money for home renovations, relocation assistance, medical procedures and more.
You can also reconsolidate your debt with a SoFi loan. Consolidating your debt into 1 monthly payment can make it more manageable and help you avoid high interest payments.
SoFi’s online application process is simple. Qualify to see your potential loans with no effect on your credit report. Loans from $5,000 to $100,000 are available with flexible terms and a fixed rate.
SoFi is a fee-less lender. There are no origination fees, no pre-payments fees and no late fees. No fees means your loan costs are less and you can concentrate your money toward repayment.
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securely through SoFi’s
website
Fixed rates from 8.99% APR to 25.81% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 05/19/23 and are subject to change without notice. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.
Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-6%, which will be deducted from any loan proceeds you receive.
Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.
Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.
Avant
Avant is powerful online lender known for fast funding and low fees. When you apply with Avant, you can complete the entire process online, pay a low origination fee, never worry about a prepayment fee and manage your loan online. The website is easy to view even on a mobile device, and Georgia residents can take advantage of:
- No collateral, unsecured financing
- An online loan eligibility calculator
- Loans that could be as high as $35,000
- A range of loan terms that suit your situation
With a great customer service team and available funding for any number of situations, you can turn to Avant in an emergency, get the money you need and deal with repayment after the fact. Georgia residents can run their funding needs by this platform before heading to the bank or looking elsewhere. Plus, it works well for emergencies when you need quick cash for a specific purpose.
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9.95%-35.99%
Up to 4.75%
24-60 months.
580
1 Minute Review
Established in 2012, Chicago-based Avant helps people obtain personal loans while offering transparent credit. Since its inception, Avant has helped over 1.5 million people receive funding.
One thing that makes Avant so unique is its background as a financial technology company instead of a traditional bank. Banking needs are addressed by Evolve Bank & Trust, a member of the Federal Deposit Insurance Corp. (FDIC). The FDIC insures deposits and protects consumers in case of bank disasters. Benzinga’s review of Avant determined it is a strong option for personal loans because of its reputation for positive customer experiences and fast funding options.
Best For
- People with below-average credit scores who need unsecured personal loans
- People who need fast funding
- Quick funding
- Fixed payments
- Mobile accessibility
- Additional costs such as origination fees
- No third-party guarantor such as a co-signer on a secured personal loan
LendingPoint
LendingPoint is an excellent option for Georgia residents because the firm is based in Georgia and offers several benefits, like:
- Expedited funding
- Flexible payment options
- Solid mobile app
- No prepayment penalties
- Competitive rates
- Affordable late fees
You can apply online to get a look at the rates that are available, and you can complete the application whenever you’re ready. Reach out to the customer service team for more information, and remember that you will likely pay an origination fee—but you can review that information with the platform before closing on the loan.
You can get a loan with terms from 2 to 5 years, and the loan can exceed $30,000 in some cases.
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9.99% – 35.99%
0% to 6%
2 to 5 years
Not stated, but accepts people with fair credit
1 Minute Review
LendingPoint provides a wide variety of unsecured personal loans that vary in term lengths, APR rates and fees. The Georgia-based company is unique because it melds technological advances with financial knowledge to provide borrowers with an improved loan experience. LendingPoint uses artificial intelligence (AI) and big data to more accurately create fair-minded credit models. LendingPoint is still relatively young as it began less than a decade ago, but it has quickly grown to offer competitive loans. The company is expanding its digital presence with online offerings such as an on-demand money product. Benzinga reviews LendingPoint’s loan offers and concludes that it’s a good choice for people with fair credit scores who are interested in the option of prepaying a loan without facing penalties. However, taking a loan shouldn’t be done lightly, so consult a financial professional to see which option works best for you.
Best For
- People with fair credit
- Ideal for people interested in receiving funds at a faster rate
- Does not have any prepayment penalties so easier to repay loan at your own pace
- Flexible payment date options
- Expedited funding could be available within a business day
- Offers mobile application for easier access
- Does not allow co-signers
- Possible origination fee depending on the state
LightStream
LightStream, like many of its competitors, offers Georgia residents:
- No collateral loans
- No late fees
- The possibility of same-day funding
- An online application
- A quality mobile app
There are no monthly service fees and no origination fees when you borrow with LightStream. Plus, the company is highly rated by both Benzinga and the BBB. As the best of the $0 origination fee loan programs, you can choose from a vast range of terms and loan values. Also, it’s easy to reach out to the customer service team for more information on your application, loan balance or repayment.
Georgia residents can look to this platform when they need funding for several different situations like medical expenses, consolidating debt, emergencies, unexpected expenses, etc.
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*AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Excellent credit required for lowest rate. Rates vary by loan purpose.
3.49%- 19.99%
$0
Up to 240 months
660
1 Minute Review
LightStream was founded by its parent company Truist Financial. The company offers a wide range of traditional and innovative personal loan benefits and opportunities such as home improvement loans and fertility financing to address a wide range of needs. The company charges APRs between 3.49% and 19.99%. Benzinga offers a review of LightStream’s personal loan options that provide a variety of personal loans while minimizing additional fees and promoting financial flexibility. The company offers diverse loans with varying term lengths, APRs, and uses. For example, Lightstream offers a variety of home improvement loans that are designed to assist with specific needs such as funding for landscaping or solar panels.
Best For
- Potential borrowers interested in quickly funded unsecured personal loans
- Same day funds
- People with stronger credit scores
- Doesn’t require collateral
- No late fees
- Potential same day funding
- Self-selected funding dates
- Offers a mobile application to ease access to loan information
- Not recommended for bad credit scores
Personal Loan Considerations
Thinking about a personal loan? Consider the following:
- Does the loan have lower rates than credit cards?
- Do you need a revolving credit line or a lump sum of cash?
- Can you repay the loan within the offered terms?
If you need a lump sum and answered yes to any of these questions, a personal loan is likely a good option for you.
Some lenders do prey on unsuspecting borrowers. Use trusted resources for your personal loan and do your research before signing on the dotted line.
Find a Personal Loan Today
A personal loan could be the right choice if you’re short on cash for any number of reasons. Personal loans can provide a lower rate than other lines of credit and many lenders offer flexible, long-term repayment plans.
Start with our list of recommended lenders to find the best personal loan today.
Frequently Asked Questions
What happens if I can’t repay my personal loan on time?
Make sure you can meet the given terms for a loan before accepting. If you miss a payment or pay late, you can face anything from late fees to collateral seizure.
Answer Link
Can a personal loan help my credit?
If you handle your loan payments responsibility, it definitely can. Making on-time payments toward a personal loan can raise your overall credit limit and lower your credit utilization. This can help raise your credit score.
Answer Link
The post Best Personal Loans in Georgia by Jacinta Sherris appeared first on Benzinga. Visit Benzinga to get more great content like this.