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

LightStream is the best overall personal loan company in Salinas by MoneyGeek standards. It provides fast, convenient and accessible loans. Borrowers can be approved for $5,000 to $100,000.

The lender offers same-day funding with repayment terms ranging from 24 to 84 months. Additionally, it does not charge origination or prepayment penalty fees. This loan is ideal for people with good credit who require immediate funds.

It is important to note that the provider does have loan use restrictions. For example, LightStream loans cannot be used for postsecondary education and business expenses.

Pros

• Autopay discount
• No prepayment and origination fees
• Fast funding
• Loan maximum of $100,000
• A+ Better Business Bureau (BBB) rating

Upstart is an online marketplace for personal loans. It uses artificial intelligence to review your application, considering factors other than your credit score, such as your work and school history. This helps increase the chances of approval if you have poor credit. Borrowers can receive between $1,000 and $50,000.

Keep in mind that Upstart loans are only payable within two repayment options: 36 or 60 months.

Fixed interest rates from this provider can be low or high based on your creditworthiness. Additionally, Upstart charges origination fees.

Pros

• Low credit requirement
• Soft credit checking
• A+ BBB rating
• Flexible payment date
• No prepayment fee

SoFi may offer an excellent deal for creditworthy applicants. It has great benefits, such as no origination fees, late fees or prepayment penalties on any of its personal loan products. Borrowers can also get an autopay discount of 0.25%.

One of the highlights of this lender is its unemployment protection, which temporarily modifies payments until a borrower secures a new job. For loan amounts, SoFi’s offers start at $5,000 and go up to $100,000, making it great for people who need a considerable amount of money.

The lender requires a credit score of at least 680 and borrowers to earn a minimum income of $50,000 gross per year. It’s not an accessible option for those with less than excellent credit scores.

Pros

• No origination or prepayment fees
• Unemployment protection
• Loan maximum of $100,000
• Offers autopay discounts up to 0.25%

Upgrade is our top recommendation for debt consolidation personal loans in Salinas, providing you with a fast approval process and low fees. The lender pays creditors directly for a straightforward process.

The fintech company requires a credit score of at least 560, making it more accessible for borrowers. Additionally, Upgrade assesses applicants with a soft credit inquiry during the pre-approval phase to help maintain their credit scores.

The lender offers loans of $1,000 to $50,000. Its low loan amount minimum can help borrowers avoid overborrowing. Repayment terms also last up to 60 months to give customers ample time to repay loans.

Its APR range starts relatively low. However, borrowers with lower credit scores can be charged a high APR. It also helps to consider the late and origination fees that come with the application process.

Pros

• Pays creditors directly
• Autopay discount
• Low loan minimum
• No prepayment fee
• A+ BBB rating

Best Egg's home consolidation loan is one of the top choices in the market. It provides funding of up to $50,000 the next day, and borrowers can get pre-approved without affecting their credit scores.

The APR depends on factors such as creditworthiness, income and loan size. One caveat to Best Egg is that it requires a 700 minimum credit score, which can be steep for some people with little credit history. Best Egg’s home consolidation loan is best for those with good credit.

Its convenient application process has earned the recognition of customers and the BBB with an A+ rating.

Pros

• Provides rates in minutes
• Flexible due date
• Minimum repayment term of 3 years
• No prepayment penalties
• A+ BBB rating