Best Personal Loans in Little Rock, AR: Top Lenders & Best Picks for You

LightStream is MoneyGeek’s top pick for personal loans in Little Rock. It allows borrowers to use funds for almost anything, besides business or education-related expenses.

The lender offers loan products from $5,000 to $100,000. Repayment terms for LightStream loans are flexible, ranging from 24 to 84 months, depending on the loan type. The higher maximum loan amount and longer repayment term option make it a great lender for those needing to take out a larger loan.

Though only those with the highest credit scores will be eligible for the lender’s lowest rates, you could save 0.5% on your APR by signing up for automatic payments. These loans also don’t have origination fees, late fees or prepayment penalties, allowing borrowers to save even more money.

Because the lender has a relatively high minimum credit score requirement of 660, some borrowers may not be eligible. Additionally, this lender does not permit loans to be used for business or education-related expenses; borrowers looking to use their funds for these purposes should choose a different lender.

Pros

• High maximum loan amount
• Flexible repayment terms
• Autopay discount of 0.5%
• No fees

Upstart, founded in 2012, provides loans to borrowers who have a credit score of at least 300. Besides your credit score, the lender takes into account other factors, like your employment or education history, when evaluating your rate. This allows borrowers with poor credit to qualify for a personal loan.

Upstart loans feature loan amounts from $1,000 to $50,000, making it a good choice for borrowers that need a small or moderate loan. One of the downsides of this lender is that it only offers two repayment terms: 36 or 60 months. This makes it difficult to customize a loan repayment plan that fits your specific financial goals. Those with poor credit should also be mindful that they may receive an incredibly high interest rate.

Pros

• Low minimum credit score requirement
• No prepayment penalties
• Low minimum loan amount of $1,000
• Low starting APR

Borrowers with good credit may find the best personal loan in Little Rock from SoFi. This lender, founded in 2011, is great for borrowers who want to avoid fees, take out a large loan or need urgent funds.

A SoFi personal loan can range from $5,000 to $100,000, so it’s great for people who need to fund large projects. Furthermore, you may pay less in interest with a SoFi personal loan depending on a borrower’s credit score.

SoFi personal loans have no origination fees, late fees or prepayment penalties. As a result, you can save money on your loan and maximize the funds that you get. One of the major perks unique to SoFi personal loan is its unemployment protection. This feature allows borrowers to temporarily pause or adjust their payments if they lose their jobs.

While a SoFi personal loan offers many benefits, only those who have a credit score of at least 680 will qualify. Borrowers that simply meet the lender’s minimum credit score requirement will likely not receive a low APR; only borrowers with excellent credit scores will receive the lender’s lowest advertised rate.

Pros

• Unemployment protection available
• High maximum loan amount of $100,000
• Autopay discount of 0.25%
• No origination, prepayment or late fees

MoneyGeek recommends Upgrade personal loans for debt consolidation. This lender offers the option for direct payment to creditors, simplifying your finances.

Loans can range from $1,000 to $50,000. Borrowers with credit scores of at least 560 can qualify, meaning that most people will be eligible for a personal loan from this lender. Your funds may be released immediately after your application is approved, making it a great lender for those that want to start consolidating debt quickly.

Though its fair credit score requirement makes Upgrade personal loans accessible for more borrowers, those with low credit scores may receive a high APR. Furthermore, Upgrade can send the funds directly to your creditors, but it can take up to two weeks to clear. Because of this, it’s even more important that you make your payments on time.

Pros

• Flexible repayment terms
• No prepayment penalty
• Joint applications allowed
• Direct payment to creditors

Since 2014, Best Egg has been providing personal loans to borrowers nationwide. MoneyGeek chose the lender as its top choice for home improvement loans in Little Rock.

The lender’s maximum loan amount of $50,000 makes it a suitable option for moderately sized home improvement projects. Its next-day funding option is also great for those that need a loan quickly to cover the cost of unexpected household repairs.

Best Egg’s high minimum credit score requirement of 700 means that it may be difficult to qualify for a personal loan. While the lender has a low starting APR, only those with near-perfect credit scores will receive it; most borrowers are likely to pay a relatively high APR. Origination fees, up to 8.99% of your original loan amount, may also significantly increase the total cost of your loan.

Pros

• Changes to payment deadlines permitted
• No prepayment penalties
• Soft credit check during initial application
• Several factors are used to determine your rate