Best Personal Loans in Fontana, 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 Fontana, CA

To help you make an informed decision, MoneyGeek analyzed over 30 data points to determine key factors affecting the personal loan experience, like loan affordability, quality of customer service and flexibility. We chose the best options for people with poor credit, those looking to consolidate debt and people looking to fund home renovations.

Keep in mind that the best lender for you might not be on this list if you have specific needs. We’ve provided general recommendations as a starting point to help borrowers with their research.

Best Overall Personal Loan Lender in Fontana: 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

    MoneyGeek’s top pick for the best personal loan lender in Fontana is LightStream due to its lack of fees, competitive interest rates and flexible repayment periods. Founded in 2012, LightStream is a division of Truist Bank, another one of MoneyGeek’s choices for top lenders. The company offers fixed-rate loans between $5,000 and $100,000 with relatively low interest rates.

    LightStream prides itself on its quality of customer experience. Although it could be a great choice for most borrowers, it may not be the best fit for those looking for smaller loan amounts since the minimum loan amount is $5,000. The credit score requirement may also be too high for those with poor credit scores.

    Pros

    • A+ BBB rating
    • Low minimum APR
    • No prepayment penalty
    • Autopay discount

    Cons

    • Minimum loan amount of $5,000
    • No co-signers
    • Hard credit inquiry
    • Limitations on fund usage
    • Won’t accept people with new or no credit
    LightStream

Best Personal Loan Lender for Bad Credit in Fontana: 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

    Upstart personal loans offer fast funding and flexible loan amounts compared with other lenders. Unlike some companies, Upstart also offers personal loans for education purposes. With no minimum credit score requirement, it is MoneyGeek's top pick for those with bad credit. You can also prequalify online with a soft credit check that won't impact your credit score unless you decide to proceed with your application.

    What makes Upstart stand out is its application criteria. Other companies tend to rely on debt, income and assets, but Upstart also considers factors like your job history and educational background when processing your application. However, applicants need to be aware of the origination fee they may need to pay. This is a percentage of the loan amount.

    Pros

    • A+ BBB rating
    • Low minimum credit score requirement
    • Minimum loan amount of $1,000

    Cons

    • Charges an origination fee
    • Maximum loan amount of $50,000
    • Potential origination fees
    • Late fees
    • No co-signers
    Upstart

Best Personal Loan Lender for Good Credit in Fontana: 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 the top lender for personal loans in Fontana for those with solid credit scores. If you want a substantial loan of up to $100,000, SoFi is a great option. As a result, those who are highly qualified can obtain loans with high loan amounts and lower interest rates.

    However, because SoFi requires a minimum credit score of 680, it might not be well-suited to potential borrowers with bad credit. Additionally, the loan's minimum amount is large ($5,000), which may be more than some potential purchasers need. Despite this, it is a good option for those who don’t want to pay any origination and late fees.

    The online application process is also straightforward and convenient.

    Pros

    • A+ BBB rating
    • Charges no fees
    • Provides unemployment protection
    • Autopay discount
    • High maximum loan amount

    Cons

    • Income requirements
    • Requires a high minimum credit score
    • High minimum loan amount
    • No co-signers
    • Doesn’t accept people with new or no credit
    SoFi

Best Personal Loan Lender for Debt Consolidation in Fontana: 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

    Over $600 million has been secured for Upgrade since its founding in 2016. Because Upgrade offers the option of paying third-party creditors directly, MoneyGeek determined that it was the top debt consolidation solution in Fontana. Upgrade provides flexible loan lengths for borrowers who want to minimize their monthly payment amounts.

    Something to note is that Upgrade charges an origination fee that can be as high as 8%, which is deducted from your loan amount. It also has a high maximum interest rate if you have a poor credit score.

    Overall, Upgrade is an excellent option for people with good credit seeking joint or secured loans with longer payback terms, along with a well-rated mobile app for managing loan installments.

    Pros

    • No prepayment penalty
    • Low minimum loan amount
    • Offers joint loans
    • A+ BBB rating
    • Autopay discount

    Cons

    • High maximum APR
    • Origination fees
    • Low maximum loan amount
    • No co-signers
    • Late fees
    Upgrade

Best Personal Loan Lender for Home Improvement in Fontana: 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

    MoneyGeek's top recommendation for Fontana residents wanting to finance a home repair project is Best Egg. Borrowers wishing to finance a home improvement can choose from various loan amounts between $2,000 and $50,000 from Best Egg, in addition to long repayment periods of up to 60 months.

    To be eligible for the lowest APR rates, Best Egg does require applicants to have a minimum credit score of 700. It also doesn't offer an option for joint loans that can potentially help you qualify for higher rates. Because of this, people with a low income or bad credit may wish to explore other options.

    Additionally, Best Egg does not provide loan reductions for automated payments, unlike other lenders.

    Pros

    • Excellent BBB rating of A+
    • Competitive APR rates
    • Soft credit check
    • Autopay discount

    Cons

    • No co-signers
    • Charges an origination fee
    • High minimum credit score requirement
    • Late fees
    • Low maximum loan amount
    Best Egg

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

You should examine a few important factors prior to applying for a personal loan, such as your current debt and credit score. The average credit score in California is 716, which is regarded as a good score. In California, the average balance on a personal loan is $16,790.

Here are some suggestions from MoneyGeek to help you choose the best personal loan in Fontana for your situation:

1
Ask Yourself the Important Questions

Getting a personal loan may seem appealing, but you should first evaluate your financial situation to see if you can afford to repay the loan in full without taking on unmanageable levels of debt. If you aren’t sure whether you qualify for a personal loan, you can also take some steps to improve your credit score. Some questions to consider include the following:

  • How much money do I need?
  • How is my credit rating?
  • Can I pay the monthly payments?
  • How much debt already do I have?
2
Do Your Research

Depending on your needs, MoneyGeek highlights the stages and important information of applying for a personal loan to assist you through the process. That said, our suggestions are a fantastic starting point for most people, but if you have other needs that we haven't addressed, you might want to look into alternative choices.

Before settling on your final choice, it's important to compare many lenders in your state and look into interest rates, fees and other potential differences to find the best fit. Since applying for a loan can temporarily bring down your credit and leave you in greater debt, it's worth thinking things through. This is particularly true since a loan is a two- to four-year commitment, on average.

3
Wait

If you're certain about your choice, you might check to see if your provider's website offers prequalification before making your final selection. Before doing a hard credit check, a soft credit check might help you weigh your alternatives.

After determining which loan will satisfy your requirements the best, give yourself some time to think before sending in your application. Since taking out a personal loan is a significant commitment that can take years to repay, it may be beneficial to consider the benefits and drawbacks of your choice one last time before deciding on your preferred loan provider. You may even come up with another funding option that makes more sense for your needs.

4
Read the Fine Print

Before calculating the total loan amount you'll have to repay, remember to read the fine print to ensure you haven't missed any important facts as you compare your various loan possibilities.

You may also contact the lender to see if any terms haven't been mentioned on the personal loan page because origination costs, late fees and prepayment penalties might not be initially obvious during your research. Since these costs may build up over time, being aware of them may increase your savings.

5
Apply

After completing the above steps, you should collect your documents and start the personal loan application procedure. Depending on where you live, the process may vary. However, most lenders normally need an income report, proof of address and proof of identity.

In addition, some lenders could provide a simple online application procedure. That said, you might find it simpler to go in person to the lender's actual location if you have concerns regarding the conditions of your loan or the requirements for your application. You may also phone them to get more information and chat with a customer service agent.

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

If you are denied a personal loan in Fontana, you should refrain from applying for a personal loan at a different company. This could negatively impact your credit score, and you can improve your chances of future approval by fixing the issue that caused your loan to be denied.

Payday loans should be avoided since they frequently have extremely high late fees and interest rates that may make it difficult to repay your debt in full.

It might be wise to get in touch with your lender to find out why your loan was rejected. For instance, you could need a higher annual income, or your credit score might be too low. Determine if there is any way you may submit further documentation to overturn their decision. You may also inquire about reducing the desired loan amount or term.

Frequently Asked Questions About Personal Loans in Fontana

Finding the ideal personal loan for your requirements after weighing all the options in your state can be tricky. MoneyGeek listed some of the most commonly asked questions about personal loans in Fontana.

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

Our Personal Loan Methodology

METHODOLOGY

We looked at more than 30 personal loan lenders and more than 35 different data points in six key areas, including loan cost, accessibility, consumer friendliness, customer support, flexibility and lender transparency.

We analyzed several data points that we think are the most important when choosing a personal loan lender in each ranking category. Some of these factors are APR ranges, available loan amounts, minimum credit score, minimum income, application fees and the time it takes to get the money.

Here at MoneyGeek, we care about you, the customer, so we also look at each lender's customer service, company ratings and other features that could make your experience more seamless, including prequalification, payment options and mobile apps.

Our choices are based on careful analysis and are made with your best interests in mind. MoneyGeek’s expert advice and suggestions for personal loans are meant to help you choose the best lender for your requirements.

sources
Shield Insurance

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.