Best Personal Loans in Palmdale, 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 Palmdale, CA

Our analysis of various lenders’ APR ranges, available loan amounts, funds disbursement time, credit score and income requirements and other essential factors will help you find the lender that offers the best personal loans in Palmdale.

Our research shows that LightStream is the best personal loan lender in Palmdale. If you have a strong credit history, it would be best to get a loan from SoFi. However, Upstart will suit borrowers with bad credit scores. You can opt for Upgrade to get a loan to consolidate high-interest debt, while Best Egg is ideal if you want to renovate your home.

Best Overall Personal Loan Lender in Palmdale: 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

    Based on MoneyGeek’s analysis, LightStream is the best option for personal loans in Palmdale. It’s an online lender formed in 2013 after SunTrust and BB&T bank merger.

    There are many advantages to opting for LightStream for personal loans. The lender offers fast funding, disbursing the funds the same day after approval. However, terms and conditions apply. You can get a discount on your interest rate by setting up automatic payments.

    It would be best to ensure LightStream is the perfect lender for your situation before applying because the lender conducts a hard credit inquiry that can hurt your credit score.


    • Disburses funds quickly
    • Autopay discount available
    • A+ BBB rating
    • High maximum loan amount
    • No prepayment, late payment or origination fees


    • Conducts a hard credit inquiry
    • No co-signers allowed
    • Restrictions on loan funds usage
    • 660 minimum credit score requirement
    • High minimum loan amount

Best Personal Loan Lender for Bad Credit in Palmdale: 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

    Although MoneyGeek researched many bad credit loan options for borrowers, we found Upstart is the best option.

    The key factor that makes Upstart the ideal option for borrowers with bad credit scores is the lender’s criteria for determining creditworthiness. The lender has a 300 minimum credit score requirement for its loans and analyzes various factors besides credit score when you apply for a loan. These include your education and employment details.

    Upstart performs a soft credit check when you check your rate online and doesn’t charge a prepayment penalty on early loan repayment. It also offers fast funding, usually disbursing the funds on the next business day.


    • Low minimum loan amount
    • No prepayment penalty
    • A+ BBB rating
    • Low minimum credit score requirement


    • Provides limited loan repayment terms
    • No co-signers
    • Doesn’t offer an autopay discount
    • Potentially high origination fees
    • Low maximum loan amount

Best Personal Loan Lender for Good Credit in Palmdale: 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

    MoneyGeek analyzed many lenders offering loans for borrowers with good credit scores. Our analysis shows SoFi, also known as Social Finance, is the best option for these borrowers.

    You will qualify for a lower interest rate with a strong credit history. SoFi allows borrowers to check their rates online and only performs a soft credit check that doesn’t negatively affect their credit score. The lender will generally disburse the funds a few days after approval.

    However, SoFi isn’t the best option for minor expenses as the lender offers a minimum loan of $5,000.


    • Doesn’t charge prepayment or origination fees
    • High maximum loan amount
    • Conducts a soft credit inquiry first
    • A+ BBB rating


    • High minimum loan amount
    • No co-signers
    • High minimum credit score requirement
    • Income requirements
    • Won’t accept people with new or no credit

Best Personal Loan Lender for Debt Consolidation in Palmdale: 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

    If you want to consolidate high-interest debt in Palmdale, Upgrade could be the most suitable option based on our analysis. The lender provides direct payment to creditors and doesn’t charge prepayment fees if you pay off your loan early.

    Qualifying for a loan with Upgrade might be easier as the lender permits joint applications. MoneyGeek found that the lender will consider your credit history and other important factors to determine your rate.

    It’s important to understand that you may have to pay a high origination fee with Upgrade, and it also charges a fee for late payments. You can consider other lenders if you want to avoid paying high fees.


    • A+ BBB rating
    • No prepayment fees
    • Performs a soft credit check
    • Autopay discount available
    • Direct payment to creditors for debt consolidation


    • Does not permit co-signers
    • Limited usage of loan funds
    • Doesn’t accept people with new or no credit
    • Charges origination fees
    • Late payment fees

Best Personal Loan Lender for Home Improvement in Palmdale: 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 found that getting a loan from Best Egg is the best option to fund home improvements. The lender’s minimum and maximum loan amounts range from $2,000 to $50,000, making it a suitable option for most expenses.

    Once Best Egg approves your loan, you can receive the funds the next day. It makes Best Egg the ideal option for immediate access to funds. Besides home improvements, you can also use the funds for vacations, adoption or any significant expenses. You won’t have to pay prepayment fees if you repay your loan early.

    However, you must have at least a 700 credit score to qualify for Best Egg’s loans. You will have to opt for another lender if you don’t have a strong credit history.


    • A+ BBB rating
    • Doesn’t charge a prepayment penalty
    • Soft credit inquiry
    • Autopay discount


    • Late payment fees
    • Charges high origination fees
    • No co-signers
    • Potentially high maximum APR
    • High credit score requirement
    Best Egg

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

MoneyGeek found that the average personal loan debt in California is $16,790. A personal loan can help you in many ways, like funding vacations, weddings or other significant expenses. Although you can meet your financial needs using a loan, you must ensure that you can repay it easily by considering your financial situation when you apply for a loan.

We recommend taking these steps when looking for the right lenders for your situation.

Ask Yourself the Important Questions

To analyze your financial situation, you must consider your current income and previous debts. It’s also smart to understand how much of your income goes towards making monthly loan payments. This will give you an idea of whether you can afford a new loan. Since each lender differs in terms of their requirements, you should assess if your credit history is sufficient to qualify for a loan easily.

You can ask yourself the following questions before looking for the best lender in Palmdale:

  • How much funding do I need?
  • What is my credit score?
  • Can I afford the monthly payment?
  • How much debt do I already have?
Do Your Research

After knowing your current financial situation, you can start researching the perfect lender based on your funding needs. To do sufficient research, you should consider each lender’s credit score and income requirements, minimum and maximum loan amounts and other important factors.

Shopping around and comparing each lender before making the final decision is essential. You should know that getting a loan is a significant commitment and it can take a few years to pay it off. You might find MoneyGeek’s guides on personal loans helpful when researching. However, you should also do your research as our guides do not offer personalized recommendations.


You might have done sufficient research and chosen the best lender for your needs. However, it would help if you did not rush into making the final decision and applying since a loan is a long-term commitment. MoneyGeek recommends waiting a few days to consider your decision and ensuring that your chosen lender offers suitable loans for your funding needs. You can also review the lender’s terms during this period.

Read the Fine Print

It’s also important to consider the fine print of the lender’s loan agreement to save money in the long run. When reviewing the terms, some essential fees to note are application, origination, prepayment and late payment fees. Taking the time to read the fine print will ensure you aren’t caught off guard by any unexpected terms or conditions.


It is best to apply for a loan once you understand the necessary details and review the important information. During the application process, the lender might ask for information to verify your address, income and other financial details.

You can submit an application with online-only lenders. However, many lenders permit in-person applications. This can be beneficial if you have questions that you need answered before submitting your application.

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

If the lender rejects your loan application, you can take a few steps to improve your chances of getting approval. However, you should understand that a lender will reject an application if they consider you a risky borrower. The factors that cause rejections are bad credit scores, unstable employment, a high debt-to-income ratio, low income and incomplete applications.

In the event you are rejected, you should email or call the lender to ask about the factors that may have caused the loan denial. If the lender rejected your loan due to a bad credit score, you could apply again after improving your credit history by getting a credit-rebuilding credit card. It’s generally not the right choice to immediately apply with a different lender without first improving the factor that caused your initial loan rejection in the first place.

MoneyGeek recommends staying away from payday loans as these loans have high APRs and short repayment terms. You could accumulate much more debt if you fail to repay a payday loan in accordance with the terms.

Frequently Asked Questions About Personal Loans in Palmdale

To choose the ideal lender for your situation, consider your needs first and then opt for the lender that fits those needs. MoneyGeek researched the following frequently asked questions to help you choose the ideal lender.

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

Our Personal Loan Methodology

MoneyGeek produced this guide after reviewing many personal loan lenders using various individual data points based on these categories, including loan affordability, consumer friendliness, lender transparency, customer service, accessibility and flexibility.

We assessed many data points that have the most significance when choosing a lender. These factors include funds disbursement time, APR ranges, available loan amount, minimum income amount, minimum credit score and application fees.

We value you, the consumer, which is why we also analyzed each lender’s business ratings, customer support and additional features that could make your experience easier and more accessible, like prequalification, mobile apps and payment options.

MoneyGeek chose the best lenders after careful consideration and keeping your interests in mind. Our loan recommendations can help you make the best decision when choosing a lender that fits your needs.

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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.