Best Personal Loans in Rancho Cucamonga, CA: Top Lenders & Best Picks for You

LightStream was formed in 2019 from the merger of SunTrust and BB&T. LightStream offers the best personal loans in Rancho Cucamonga due to it varied loan amounts, flexible repayment terms and lack of fees.

Borrowers with a minimum credit score of 660 can qualify for a loan with this lender. Its loan products range from $5,000 to $100,000 with repayment terms between 24 and 84 months. Though the lender offers a relatively low starting APR, only those with excellent credit scores will receive it.

Funds acquired from this lender cannot be used for secondary education tuition, business expenses, gambling and other illegal activities. Additionally, the minimum loan amount available — $5,000 — is relatively high in comparison to other lenders. Those seeking a lower loan amount, as well as borrowers that require a co-signer, should opt for a different lender.

Pros

• Autopay discount
• Mobile application available
• No late, origination or prepayment fees
• Quick funding
• Flexible repayment terms

Upstart was founded in 2012 and uses artificial intelligence (AI) to evaluate a borrower’s eligibility for a personal loan. This lender began offering personal loans in 2014 and accepts loan applications from individuals with bad to no credit.

The lender allows funds to be used for home improvement projects, medical fees, debt consolidation and more. Although this lender doesn’t have strict credit score requirements, it evaluates a borrower’s employment status and gross income when assessing loan eligibility. Upstart releases funds within one to two business days, which is ideal for those looking for quick or emergency funding.

However, those that qualify with this lender will be required to pay origination fees and late fees. Furthermore, only applicants with the best credit scores will receive the lender’s lowest APR. To avoid paying a high interest rate, in excess of 35%, borrowers may consider improving their credit score first to qualify with a different lender.

Pros

• No prepayment penalty fee
• Low minimum loan amount of $1,000
• Repayment period up to 60 months
• Next-day funding
• Low minimum credit score requirement of 300

SoFi, also known as Social Finance, was founded in 2011 as a student loan refinancing company. By 2015, it had expanded its product offerings to include personal loans.

MoneyGeek identified SoFi as the best lender for borrowers with good credit. Those with a credit score of at least 680 will be eligible for a loan. SoFi conducts soft credit inquiries and offers an autopay discount that borrowers may find appealing.

SoFi doesn’t charge origination or prepayment penalty fees, so borrowers can take out a loan and repay it early without paying any extra fees. Perhaps the most unique feature of SoFi’s personal loan products is its unemployment protection program, which temporarily pauses payments for borrowers if they lose their jobs.

However, its high minimum loan amount of $5,000 may be too much for borrowers looking for a small loan. Furthermore, the lender doesn’t allow co-signers.

Pros

• Autopay discounts
• Soft credit inquiries
• No origination or prepayment penalty fees
• Unemployment protection program

Upgrade was founded in 2017 and is currently headquartered in San Francisco, California. MoneyGeek identified this lender as the best option for debt consolidation loans.

What’s notable about Upgrade is that it directly pays third-party creditors. You can also easily estimate your rate online without your credit score being affected. However, after you submit an application, the lender will complete a hard credit check that may drop your credit score by five to ten points.

Although Upgrade doesn’t charge a fee for early loan repayment, it does charge an origination and late fee. Personal loans from this lender also come with a high APR. Borrowers with good credit scores may find better rates with other lenders.

Pros

• A+ Better Business Bureau (BBB) rating
• Rate calculator available without hard credit inquiry
• No prepayment penalty fees
• Autopay discount
• Joint loans available

MoneyGeek identified Best Egg as the top personal loan lender in Rancho Cucamonga for home improvement projects.

Best Egg offers personal loans ranging from $2,000 to $50,000 with repayment terms between 36 and 60 months. Though Best Egg’s loan products feature variable loan amounts and flexible repayment terms, few borrowers may qualify because of its high minimum credit score requirement of 700.

Furthermore, borrowers that do qualify may still be subject to a high APR if they don’t have an excellent credit score. While the lender doesn’t charge a fee for early loan repayment, its personal loan products include fees for late payments and loan origination.

Pros

• Low minimum loan amount
• No prepayment penalty fee
• Autopay discount
• Online and phone applications