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

LightStream is MoneyGeek’s top pick overall as the best personal loan lender in Sunnyvale.

Established in 2013 as the online consumer lending division of Truist, this company offers personal loans with loan amounts ranging from $5,000 to $100,000 and generous repayment options from 24 to 84 months. Funding is also very fast, with money available as early as the same day as you applied.

LightStream only requires a moderate minimum credit score requirement of 660, which is lower than the average credit score in California. Borrowers will also benefit from the convenient and easy-to-use mobile app, autopay discount and the lack of prepayment penalty.

However, a LightStream personal loan might not be suitable for you if you need less than $5,000 in funding or you want a co-signer.

Pros

• Has high maximum loan limits
• Quick funding available
• Autopay discount
• No prepayment penalty
• A+ BBB rating

Upstart is a top-rated fintech company that was launched in 2012 with the mission of expanding Americans’ access to affordable credit. It offers personal loans of up to $50,000 with fund disbursement as early as the next day.

Upstart offers its borrowers a more flexible range of loan amounts with a lower minimum limit. This is ideally suited for its target market of borrowers with bad or no credit. Upstart’s rock-bottom minimum credit score requirement of 300 means that most individuals will have great odds of getting approved. It also has a wide range of repayment terms of up to 60 months. Note that your actual loan amount and repayment term will mostly rely on your credit profile.

On the downside, Upstart charges an origination fee and doesn’t offer autopay discounts. It also requires proof of regular income.

Pros

• Low credit score requirement
• A+ BBB rating
• Doesn’t charge prepayment fees
• Soft credit pull
• Joint loans are available

Based on MoneyGeek’s analysis, SoFi is the ideal personal loan option in Sunnyvale for borrowers with good credit. It offers personal loans of up to $100,000, depending on creditworthiness, alongside a wide range of repayment options from 12 to 60 months.

You must have a minimum credit score of 680 to qualify. Considering that the average credit score across California is much higher at 716, most residents will find little to no difficulty in meeting this requirement.

Borrowers who want to save on their loans will appreciate that SoFi doesn’t charge any origination and prepayment penalties. Its unemployment protection benefit is also rare among lenders. With this perk, you can temporarily modify or pause your payments, and SoFi even assists you in finding a new job.

However, it’s best to look at other options if you cannot provide proof of regular income and employment or if you have bad credit.

Pros

• Offers loss of employment protection
• Has a fast A+ BBB rating process
• Doesn’t charge origination fees, late fees and prepayment penalties
• Autopay discount

Established in 2016, Upgrade might be a new player in the consumer lending industry, but that hasn’t stopped it from becoming a top-rated lender. Based on MoneyGeek’s analysis, Upgrade is the best option for borrowers in Sunnyvale who are looking for a personal loan to consolidate debts, such as high-interest credit cards. It offers direct payment, which frees you from the hassles of dealing with multiple creditors.

Upgrade has a fair credit score requirement of 560. It also has a quick turnaround time for fund disbursement, with loans deposited to your account as early as the same day.

There are also a few downsides to this lender. For instance, it charges high origination fees of up to 8% of the loan amount, which is immediately deducted during fund disbursement.

Pros

• Has a fair credit score requirement
• Offers quick loan disbursement
• No prepayment fees
• A+ BBB rating
• Autopay discount

MoneyGeek recommends Best Egg’s personal loan for Sunnyvale residents who are looking for extra funds to cover their home improvement projects.

Best Egg lets potential borrowers easily check the rate that they qualify for through its website. This process only requires a soft credit pull. Borrowers will appreciate the many ways to save, such as the autopay discount and zero prepayment fees.

Be forewarned that Best Egg charges origination fees, and borrowers with less-than-stellar credit should prepare for high interest rates. If affordability is your main consideration when choosing a lender, it might be best to look at other options with better rates and no origination fees.

Pros

• A+ BBB rating
• Does soft credit inquiry
• No prepayment fee
• Has autopay discount