Top Lenders & Best Picks for You

Best Personal Loans in Fresno, CA

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Reviewed byMorgan Hull
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Reviewed byMorgan Hull
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Updated: December 28, 2023

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

MoneyGeek evaluated lenders for over 30 data points to find the best personal loan lenders in Fresno, CA. To develop our ranking, we looked at each lender’s APRs, minimum credit score requirement, loan amounts, origination fees and payback terms to pick the best personal loan lenders in Fresno. Additionally, we selected the best lenders for different borrower profiles, such as those with bad or good credit and those seeking a loan for debt consolidation or home improvements.

Based on our evaluation, we found that LightSteam offers the best personal loans in Fresno to the average borrower. Upstart and SoFi offer the best personal loans to those with bad and good credit, respectively. Upgrade is also the best lender for debt consolidation, while Best Egg offers the best personal loans for home improvement purposes.

Best Overall Personal Loan Lender in Fresno: 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

    Established in 2012 as a division of Truist, LightStream promotes paperless and eco-friendly transactions through an app-ready service. Their environmentally conscious attitude is further demonstrated by the company's policy to plant a tree for every loan it gives.

    LightStream offers loans with limits ranging from $5,000 to $100,000, repayment terms from 24 to 84 months and interest rates between 2.49% and 20.49%. Its flexible loan terms make it a good option for those that meet its high minimum credit score requirement of 660. Those that qualify will save money with this lender, as LightStream personal loans feature no origination, prepayment or late fees.

    Pros

    • High loan limit
    • Same-day funding available
    • Relatively low interest rates
    • No origination, prepayment or late fees
    • Autopay discount

    Cons

    • High minimum credit score requirement
    • Co-signers not allowed
    • Borrowers not allowed to alter their payment due date
    • No direct payment to creditors for debt consolidation
    • Hard credit checks
    LightStream

Best Personal Loan Lender for Bad Credit in Fresno: 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 was founded in 2012 in San Mateo, California with the goal of helping borrowers find the most affordable personal loan options. The lender accepts applicants with little to no credit history. Aside from your credit score, the lender will review your employment history, schooling record and other large financial expenses when assessing your eligibility for a loan.

    The lender offers loans ranging from $1,000 to $50,000 with interest rates between 3.09% and 35.99%. Although the minimum interest rate is relatively reasonable, you may end up paying a higher rate if the company feels you are a high-risk borrower. Furthermore, its personal loan products feature hidden fees, like those for loan origination and late payments.

    Pros

    • No minimum credit score requirement
    • Same-day funding available
    • Low minimum gross income requirement
    • No restrictions on the usage of funds
    • No prepayment penalty

    Cons

    • Late fee
    • Origination fee
    • Mobile application not available
    • Potentially high interest rates
    • Requires a debt-to-income (DTI) ratio of 45% or less
    Upstart

Best Personal Loan Lender for Good Credit in Fresno: 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

    Founded in 2012, SoFi is headquartered in San Francisco. It offers consumers with excellent credit the option to borrow money for 12 to 60 months, with loan amounts ranging from $5,000 to $100,000. SoFi does not charge prepayment or origination fees. You also won't have to worry about late fees or penalties.

    Furthermore, SoFi's unemployment protection could assist people who have lost their jobs without negatively impacting their credit ratings. This means that the company will temporarily pause your payments while you are unemployed and will assist you in finding new employment.

    SoFi may not be a good fit for people who have poor credit scores and a poor repayment history from previous loans and large purchases. SoFi requires a high minimum credit score of 680 and minimum gross income of $50,000.

    Pros

    • Autopay discount
    • Soft credit check
    • High loan limit
    • No origination fee
    • No prepayment penalties

    Cons

    • High minimum credit score requirement
    • High minimum income requirement
    • Co-signers not allowed
    • Does not accept borrowers with new/no credit history
    • DTI limit of 45% or less
    SoFi

Best Personal Loan Lender for Debt Consolidation in Fresno: 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

    Headquartered in San Francisco, California, Upgrade delivers payments directly to creditors for debt consolidation. Debt consolidation is a way to pay off high-interest debts like car loans. However, its loans cannot be used for post-secondary education, student loans, investment, or gambling.

    Its personal loan products vary, with loan amounts from $1,000 to $50,000 and interest rates between 5.94% and 35.97%. The lender offers loans to borrowers with poor credit — the minimum credit score requirement is 560 — but those with higher credit will receive a lower interest rate. Hidden fees, like origination and late fees, may increase the cost of your loan with Upgrade.

    Pros

    • Autopay discount
    • Pays third-party creditors directly for debt consolidation loans
    • Same-day funding available
    • Soft credit check
    • Low minimum credit score requirement

    Cons

    • Potentially high interest rates
    • Origination fee
    • Late fee
    • Co-signers not allowed
    • Restrictions on the usage of funds
    Upgrade

Best Personal Loan Lender for Home Improvement in Fresno: 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

    Established in 2014, Best Egg offers personal loans in Fresno, CA, as well as 46 other states. Though relatively new, Best Egg has already received an A+ rating from the Better Business Bureau (BBB) for its quality customer service.

    The acclaimed lender offers personal loan products with limits ranging from $2,000 to $50,000, repayment terms of three or five years and interest rates between 5.99% and 35.99%. Those that qualify for a Best Egg personal loan can save 0.5% with the lender’s autopay discount.

    However, the lender has strict borrower requirements; only those with a high minimum credit score of 700 and minimum gross income of $50,000 are eligible for its personal loans. Additionally, borrowers with this lender will pay origination and late fees.

    Pros

    • Same-day funding available
    • Autopay discount
    • Soft credit inquiry
    • No restrictions on the usage of funds
    • No debt-to-income limit

    Cons

    • Origination fee
    • Late fee
    • High minimum income requirement
    • High minimum credit score requirement
    • Co-signers not allowed
    Best Egg

How to Choose the Best Personal Loan Lender in Fresno for You

The average personal loan debt in California is $16,790. Lenders analyze your credit score, debt history, income and other variables to assess your eligibility for a personal loan in Fresno. MoneyGeek offers you helpful tips in getting a good lending experience.

1
Ask Yourself the Important Questions

If you've decided to take out a loan, reviewing your financial circumstances prior to applying will help set you up for success. At a minimum, you should ask yourself the following questions:

  1. How much funding do I actually need?
  2. What is my current credit score?
  3. Can I afford the monthly payment?
  4. How much debt do I currently have?
2
Do Your Research

The conditions of a loan agreement, like the loan limit, rates, repayment terms and fund restrictions, as well as borrower requirements, vary among lenders. Because of this, it’s important that you research different lenders to find the one that best fits your unique situation. MoneyGeek’s recommendations are a good place to start, but they’re based on generic borrower profiles, rather than your specific needs.

3
Wait

Once you’ve done your research and selected the lender that best fits your needs, take a moment to pause and think things through before finalizing anything. Taking out a personal loan is a long-term commitment — repayment terms can be up to seven years — so it’s important that you consider if a personal loan supports your future financial goals. Depending on the amount of funding you need, you might consider alternative funding sources.

4
Read the Fine Print

When you're looking for the best personal loan in Fresno, it's easy to overlook certain details. You may be focused on the interest rate or upfront fees, but you should check out other parts of the loan terms and conditions, like late fees, early payoff fees and origination fees. These seemingly minor details could save you money, while missing out on information could cost you money that you could have saved.

5
Apply

Now that you have carefully chosen a lender and read all of the fine print, you can submit a loan application. You must be ready to provide your personal information, which includes your identification, address, and proof of income. These are standard for lenders to require as a background check.

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

You may be rejected for a personal loan due to low credit score, imperfect payment history or insufficient income. If your loan application is denied, you should contact the lender to find out why it wasn’t accepted. Some may approve your loan if you shorten your loan term or decrease the loan amount, but this is lender-specific.

Until you’ve improved your application, we discourage you from reapplying with that lender or applying with a different lender. Submitting another loan application without changing your financial situation will negatively impact your credit score, making it more difficult for you to get a loan.

We discourage borrowers from getting a payday loan. These loans have exceptionally high interest rates and short repayment periods, putting the borrower at a higher risk for defaulting on the loan.

Frequently Asked Questions About Personal Loans in Fresno

Applying for a personal loan is a long process. It takes time to find the best lender for your needs. To help you find the best personal loan in Fresno, CA., MoneyGeek answered borrowers’ most frequently asked questions.

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

Our Personal Loan Methodology

We looked at 35+ unique data points from over 30 personal loan providers in six major categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility, and lender transparency.

We analyzed many data factors under each rating criterion category that, we believe, hold the most weight when choosing a personal loan provider. APR ranges, available loan amount, minimum credit score, minimum income amount, application costs, and disbursement time are all aspects to consider.

Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible, like prequalification, payment options and mobile apps.

After careful consideration and calculation, our picks are determined with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing a lender that meets your needs.

sources
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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.