Best Personal Loans in Elk Grove, CA: Top Lenders & Best Picks for You

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Edited byAshley Jacobs
Edited byAshley Jacobs

Updated: December 28, 2023

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MoneyGeek's Picks for Best Personal Loan Lenders in Elk Grove, CA

A personal loan is a wise choice if you require additional finances. Over 30 data points were reviewed by MoneyGeek to assist you in making the best decision. We considered a variety of factors, including interest rates, loan amounts, repayment terms and more.

We found that the best overall lender in the city is LightStream. However, the ideal lender for you will vary based on your unique needs and financial profile.

Best Overall Personal Loan Lender in Elk Grove: LightStream

  • LightStream

    • 4.49% to 20.49%APR Range
    • 660Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Same DayTime to Receive Funds

    Following the merger of SunTrust and BB&T, Truist Bank launched its online lending platform, called LightStream, in 2019. LightStream is the top provider of personal loans in Elk Grove, offering loans up to $100,000 that can be disbursed to your bank account as soon as your loan application is accepted.

    To be approved for a LightStream personal loan, you need to have a credit score of at least 660. There are no origination or late payment fees associated with LightStream, and it does not impose penalties for early loan repayment. However, LightStream forbids the use of loan funds for paying for university tuition and any illicit purposes.


    • No late, prepayment or origination fees
    • A+ rating from the BBB
    • Autopay discount
    • Joint loans available


    • Conducts hard credit pull
    • Not offered to new borrowers
    • High minimum loan amount
    • Co-signers not allowed
    • Limited purposes of fund use

Best Personal Loan Lender for Bad Credit in Elk Grove: 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

    An artificial intelligence financing platform called Upstart was introduced in 2012. It provides the best personal loans in Elk Grove for individuals with bad credit. There are 48 states, including California, that have benefited from its services.

    Upstart borrowers need a credit score of at least 300 to get started. Additionally, it performs a soft credit pull, which won't affect your credit score. However, it should be noted that Upstart has a $50,000 loan limit. If you're searching for a larger loan, it might not be the right lender for you.

    Additionally, if your debt-to-income ratio is greater than 45%, Upstart is not an ideal option.


    • Low credit score requirement
    • Runs soft credit inquiry
    • A+ BBB rating
    • No prepayment fee


    • Employment requirements
    • Origination fees of up to 8%
    • No co-signers
    • Debt-to-income limit of 45%
    • Charges late fees

Best Personal Loan Lender for Good Credit in Elk Grove: 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 is MoneyGeek's top recommendation for personal loans in Elk Grove for people with good credit since it requires a minimum credit score of 680. If you require a sizable personal loan, SoFi can let you borrow up to $100,000. However, the lender might not be the ideal choice for borrowers with fair credit scores.

    You can save money because SoFi has no origination, late or prepayment penalties. Plus, it offers an autopay discount.

    Unemployment support is also available to borrowers. In the event that you lose your employment, SoFi may temporarily change your payments.


    • Performs soft credit check
    • Provides high maximum loan amount
    • No late payment charges
    • Offers autopay discount
    • Doesn’t charge origination fees


    • Requires good-to-excellent credit score
    • Has a minimum gross income requirement
    • No co-signers
    • Won’t accept people with new or no credit
    • High minimum loan amount

Best Personal Loan Lender for Debt Consolidation in Elk Grove: 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

    The ideal personal loan in Elk Grove for debt consolidation is Upgrade. Even people with fair credit might be able to acquire Upgrade's personal loans because of the minimum credit score of 560.

    Upgrade's loans have late payment fees and origination fees. However, this lender accepts joint applications. This increases the likelihood that personal loans will be approved for customers with bad credit.

    Note that Upgrade personal loans might not be the best option for you if you intend to use the borrowed funds for investments or for paying for postsecondary education. It’s also not ideal for those who need higher loan amounts.


    • Fair minimum credit score
    • Autopay discount
    • Low minimum loan amount
    • Doesn’t charge prepayment penalty
    • Quick loan disbursement


    • Imposes late payment fees
    • Has origination fees
    • No co-signers
    • New or no credit borrowers cannot qualify
    • Fund usage may be restrictive

Best Personal Loan Lender for Home Improvement in Elk Grove: 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

    The best personal loan in Elk Grove for home improvements is Best Egg, providing consumers with loans between $2,000 and $50,000. The company typically funds loans the next day, and a discount for automatic payments is available.

    Borrowers have 36 to 60 months to pay back their debts. Best Egg is not always the best option for borrowers, though. You are ineligible for a loan if your credit score is below 700 and if you do not meet a minimum of $50,000 in gross income. It’s also not ideal for those with larger home renovation projects totaling more than $50,000.


    • Performs soft credit check
    • Offers autopay discount
    • Doesn’t impose prepayment fee
    • A+ BBB rating


    • Low loan maximum amount
    • Origination fees
    • Imposes late payment fees
    • High minimum credit score requirement
    • No co-signers
    Best Egg

Where to Start: How to Choose the Best Personal Loan Lender in Elk Grove for You

The average personal loan debt in California is $16,790. When applying for personal loans, there are many different things that must be considered, such as your income, existing credit, creditworthiness and job history. You can use the information provided below to locate the best personal loan in Elk Grove.

Ask Yourself the Important Questions

The first thing you must assess is if a personal loan in Elk Grove is the appropriate choice for you. Then, see which lender’s requirements you fulfill. Evaluate to see if the personal loan you're acquiring will work for your goals. Some of the relevant questions that you need to ask yourself are the following:

  • How much money do you need?
  • How is your credit rating?
  • Are you able to make the payment each month?
  • How much debt do you currently have?
Do Your Research

Remember that a personal loan requires commitment. It is crucial to do your own research when obtaining loans because, based on your loan duration, you will typically be making monthly payments for two to four years. Evaluate your options and read the loan terms carefully to learn all pertinent factors.

To find the best option for your needs, compare the rates offered by several lenders. MoneyGeek’s recommendations might not be ideal for you since your circumstances might differ from those of other people. To get the ideal loan for you, it is in your best interest to look into other possibilities and compare them.


Personal loans need significant commitment since you will be dealing with them for a long time. It is crucial that you be certain that getting one is the best course of action for you. Evaluate your decision carefully and avoid rushing.

After you think you've found the right lender, MoneyGeek suggests delaying applying for a loan for a few days. You could do further research on the lender or consider finding alternative sources of funding.

Read the Fine Print

Overlooking specific information about a personal loan is one error that some borrowers make. Make sure you understand all pertinent information when researching loans. Read the details and study fees, such as prepayment fines, early repayment expenses and origination fees. Despite the fact that small details may appear insignificant, doing your research on the fine print might ultimately help you save money.


Once you have listed all the information you will need and are confident in your choice of lender, you may submit your application. It's likely that you will need to submit specific paperwork and data. Typically, lenders need proof of identity, income and residence verification.

Online applications can be submitted to some lenders, but the lender can help you better understand the loan and address your questions over the phone or in person.

What to Do if You Can’t Get a Personal Loan in Elk Grove

Sometimes, personal loan requests are turned down. It is advisable to assess the issue first before taking your next step if you are rejected. Learn what considerations played a role in the decision.

The main reasons why loan applications are typically declined are:

  • Low credit ratings
  • Excessive debt-to-income ratios
  • Insufficient income
  • Inaccurate or incomplete loan application

To learn the exact reason why your application was rejected, get in touch with the lender. Inquire whether you can change your application. For instance, you might lower the loan amount or shorten the loan period.

You can also choose to apply for a loan with another company if you urgently require the funds. However, you should hold off from doing this until you have addressed the issue that led to the initial denial of your loan application.

Payday loans and other financial plans that are too simple to enter into should be avoided. These are quick loans with an average tenure of a few weeks. A payday loan can help you receive money fast, but the interest rates are rather high.

Frequently Asked Questions About Personal Loans in Elk Grove

Choosing a personal loan lender can be a complicated process. To help you identify the best option for you, MoneyGeek addresses some of the most frequently asked questions concerning personal loans in Elk Grove.

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

Our Personal Loan Methodology

By comparing over 30 personal loan providers in Elk Grove using 35+ different data points in six critical categories, including lender transparency, customer service, loan affordability, accessibility, consumer friendliness and flexibility, MoneyGeek was able to identify the best personal loan available.

The baseline income and credit score criteria, APR ranges, potential loan amount, application fees and disbursement times are just a few of the specific data factors that we looked at inside every rating category.

Because MoneyGeek places a high priority on the needs of customers, we looked into each lender's history of providing high-quality service and any additional features (pre-approval, mobile apps and instant payment services) that can streamline the process for you.

The recommendations MoneyGeek offers are ones we believe are best suitable for you. When choosing a lender, you can use our loan suggestions and professional advice to assist you in making rational financial decisions.

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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.