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

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Edited byAliha Strange
Edited byAliha Strange

Updated: December 28, 2023

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

No matter what type of borrower you are, a lender can help you with a personal loan in Salinas. That said, not all lenders will be a fit. MoneyGeek looked at more than 30 factors, including minimum and maximum loan amounts, APR ranges, credit score and income requirements, repayment terms, loan disbursement timeframes and more.

MoneyGeek discovered that LightStream is the overall best personal loan lender in Salinas. However, Upstart is recommended for those with bad credit, and SoFi is for those with good credit. Consider Upgrade if you’re looking to consolidate your debts and Best Egg if you have home improvement projects in tow.

Best Overall Personal Loan Lender in Salinas: LightStream


Best Personal Loan Lender for Bad Credit in Salinas: Upstart


Best Personal Loan Lender for Good Credit in Salinas: SoFi


Best Personal Loan Lender for Debt Consolidation in Salinas: Upgrade


Best Personal Loan Lender for Home Improvement in Salinas: Best Egg


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

If you live in Salinas and want to take out a personal loan, MoneyGeek recommends you review your financial preparedness to take on a loan, such as your current debts, current income and other financial obligations. In California, the average personal loan debt is $16,790 and the average credit score is 721.

If a personal loan is right for you, take a look at the following steps to ensure you secure the best loan for your needs.

Ask Yourself the Important Questions

Deciding whether to apply for a personal loan in Salinas isn’t always easy. There are many factors to consider, including your credit score, income and other debts. For example, if you're already paying off student loans or credit cards, it might not be wise to put more on your plate. MoneyGeek recommends asking yourself the following questions before proceeding:

  • 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

It's a good idea to research your options to compare rates and find the best one for your needs.

Keep in mind that taking out a personal loan in Salinas is a big responsibility. It could mean around two to four years of monthly payments, which means you have to be wise about managing your expenses. Otherwise, your credit score may suffer.

While we try to be as thorough and objective as possible, our recommendations may not fit everyone’s profile perfectly. Nonetheless, we can help you understand the implications of your financial situation so you can make the best decision for yourself.


Give yourself ample time to consider all the options and be sure that your choice is right for you. It also gives you time to do more research and look for any red flags that might indicate that it’s not a good idea after all. Again, borrowing money is something you should not take lightly.

Read the Fine Print

Once you have settled on a lender, check the small print to see if any hidden fees or penalties might crop up in the future. Some lenders charge a non-refundable origination fee or prepayment penalty. This can help you avoid hefty surprises down the road.


When you're ready to borrow money from the lender of your choice, make sure to prepare the necessary paperwork at your disposal. Lenders will almost always require you to prove that you're who you say you are, so you might want to bring a passport, driver’s license or other valid ID. You'll also likely be asked to verify your address, employment status and income.

Additionally, despite the convenience of applying for a loan online, there’s no harm in calling or visiting the lender if available. In some situations, applying this way is more beneficial because you may be able to explain your situation and receive better service from a human than from an automated system. A lender’s representative may also answer any questions you have about the loan process and help you fill out your application correctly.

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

Getting denied a personal loan in Salinas can be a setback, but you shouldn't let it stop you. Lenders have tons of reasons why they can deny your application, such as a low credit score, insufficient income or too much existing debt.

Reach out to your lender and ask the exact reason why you were denied the loan. Once you have the details, ask whether you can submit another application with some modifications, such as a lower loan amount or a shorter repayment period. If this doesn’t work, you could try to apply with another lender. However, ensure to address any issues that may have caused your application to be denied by the first lender.

While a payday loan could seem like an alternative to a personal loan if you are denied one, it may not be the best option. This type of loan comes with high-interest rates, so if you can't pay it off immediately, the fees add up quickly. It may also be due in full on your next payday, so a single missed payment can snowball into a bigger problem.

Frequently Asked Questions About Personal Loans in Salinas

When you're ready to apply for a personal loan in Salinas, you'll likely have many questions. That's why it's essential to understand your financial position fully. MoneyGeek can help answer some of the most frequently asked questions.

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

Our Personal Loan Methodology

We looked at more than 30 personal loan lenders using 35+ individual data points across different categories, including affordability and service. The factors we considered within each ranking criteria category include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and funding time.

We also considered things like prequalification and payment options to ensure that you have a great experience with your lender.

We've put together a list of the best lenders in the industry, and our experts have written detailed reviews on each one in hopes that these will help you choose the right lender for 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.