Best Personal Loans in Fort Collins, CO: Top Lenders & Best Picks for You

Updated: December 28, 2023

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WHAT WE’RE GEEKING OUT ON

MoneyGeek's Picks for Best Personal Loan Lenders in Fort Collins, CO

MoneyGeek analyzed the best lenders for personal loans in Fort Collins based on 30 plus data points. Our analysis reviewed factors such as repayment terms, loan limits, interest rates, minimum requirements and fees. MoneyGeek’s ratings also took into account user experience and customer satisfaction ratings.

Based on this evaluation, LightStream was ranked as the best overall lender in Fort Collins for most borrowers. MoneyGeek also found the best lenders for different borrower profiles, including those with bad credit and those with good credit.

Best Overall Personal Loan Lender in Fort Collins: 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

    MoneyGeek found that LightStream offers the best personal loans in Fort Collins for most borrowers. LightStream is part of Truist Financial and is headquartered in San Diego, California. Our research showed that LightStream offers relatively low APRs in comparison to other lenders. LightStream also doesn’t charge origination, early payment or late fees, allowing its customers to save money.

    If you need funds urgently, LightStream offers same-day funding. You can borrow amounts ranging from $5,000 to $100,000 with flexible repayment terms of up to 84 months. However, keep in mind that you need excellent credit to qualify for the lowest APR rates.

    LightStream does not offer pre-approval so you won’t be able to check rates before applying. Its fully online application makes it easy for borrowers to apply for a personal loan from the comfort of their home.

    Pros

    • No origination fees
    • Relatively low APRs
    • Quick funding
    • No early payment fees
    • Autopay discount

    Cons

    • Restrictions on the usage of funds
    • Pre-approval not available
    • Hard credit checks
    • Relatively high minimum credit score requirement
    • Minimum loan limit of $5,000
    LightStream

Best Personal Loan Lender for Bad Credit in Fort Collins: 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

    Upstart offers the best personal loans in Fort Collins to borrowers with bad credit. Founded in 2012, Upstart accepts borrowers with credit scores as low as 300, making it a good option if your credit is poor.

    The lender offers personal loans at amounts ranging from $1,000 to $50,000 with a repayment term of either three or five years. In most cases, funds are disbursed the next day, making it a great option if you need funding quickly.

    Though borrowers with poor credit scores can still qualify for a loan, they should be aware that they may receive a high interest rate. Borrowers can check rates before applying on Upstart’s website without impacting their credit score.

    It should also be noted that the maximum amount that you can borrow is capped at $50,000, so those looking to borrow large amounts of money should consider a different lender. Origination fees and no co-signer option may further push borrowers to an alternative provider.

    Pros

    • Low minimum credit score requirement
    • No early payment fees
    • Soft credit check
    • Funds can be used for education

    Cons

    • Relatively high APRs
    • Fixed loan term options
    • Origination fees
    • Co-signers not permitted
    • Low maximum loan limit of $50,000
    Upstart

Best Personal Loan Lender for Good Credit in Fort Collins: 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 found that SoFi offers the best personal loans in Fort Collins for borrowers with good credit. Headquartered in San Francisco, California, the lender offers personal loans that can be used for a variety of purposes, including debt consolidation, home improvement, emergency expenses and more, with the notable exception being the use of funds for postsecondary education.

    To qualify for a SoFi loan, you need a credit score of at least 680. Though this is relatively high in comparison to other lenders, those that qualify will receive some of the lowest APRs in the industry. Loan limits range from $5,000 to $100,000.

    SoFi is a good option for emergency expenses since loans may be funded a few days after a borrower’s application is approved. SoFi personal loans also include unemployment protection, which allows borrowers to temporarily pause payments if they lose their job.

    Pros

    • No origination fees
    • No charges for early payment
    • Soft credit check
    • Flexible loan limits up to $100,000
    • Unemployment protection

    Cons

    • Good-to-excellent minimum credit score requirement
    • Minimum loan limit of $5,000
    • Minimum income requirement
    • Restrictions on the usage of funds
    • Co-signers not allowed
    SoFi

Best Personal Loan Lender for Debt Consolidation in Fort Collins: 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

    Upgrade offers the best debt consolidation loans in Fort Collins. Upgrade was founded in 2016 and offers personal loans that can be used for consolidating debt, funding major purchases or home renovations and paying for emergency expenses. Borrowers with fair credit score can qualify with this lender’s moderate credit score requirement of 560.

    Depending on a borrower’s credit score and profile, Upgrade offers personal loans ranging from $1,000 to $50,000. Most loans are approved immediately, and those looking to use their personal loan to consolidate debt can also save time with this lender, as Upgrade will pay your creditors for you.

    Though it’s possible to receive a high APR with this lender, especially if you have poor credit, you can check your rates online before applying without negatively impacting your credit score. However, keep in mind that all loans attract an origination fee between 1.85% and 8.99% of your original loan amount.

    Pros

    • Soft credit inquiry
    • Quick funding
    • No early payment charges
    • Direct payment to creditors for debt consolidation
    • Flexible repayment terms

    Cons

    • Origination fees
    • Late fees
    • High APR ranges
    • Relatively low maximum loan amount
    • Co-signers not permitted
    Upgrade

Best Personal Loan Lender for Home Improvement in Fort Collins: 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

    Best Egg offers the best personal loans in Fort Collins for use on home improvement projects. Best Egg was founded in 2014 and received an A+ BBB rating for its excellent customer service reputation. To be eligible for a loan from Best Egg, you need good-to-excellent credit.

    The lender offers loans ranging from $2,000 to $50,000 with flexible repayment terms up to 60 months. Because borrowers with poor credit scores may receive a high rate, those with bad credit may consider choosing a different lender. To see what APR and loan terms you’re eligible for, you can check your rate on Best Egg’s website without negatively impacting your credit score.

    Most Best Egg personal loans are funded the next day, so you’ll receive your funds fairly quickly. Keep in mind that your loan will attract a one-time origination fee that can range from 0.99% to 8.99% of your loan amount.

    Pros

    • No early payment fees
    • Soft credit inquiry
    • Autopay discount
    • Flexible repayment terms

    Cons

    • Relatively high APRs
    • High minimum credit score requirement
    • Origination fees
    • Late fees
    • Co-signers not accepted
    Best Egg

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

If you’re in need of funding, a personal loan may be a suitable option. In Colorado alone, residents have borrowed an average of $21,783 in personal loans to fund their large purchases or emergency expenses and consolidate their debt.

It’s important to consider your credit score, income and debt-to-income ratio when deciding if a personal loan is right for you or comparing lenders. To apply for a personal loan, MoneyGeek recommends taking the following steps to get the best outcome for your situation.

1
Ask Yourself the Important Questions

Personal loans are a long-term commitment — most take between two and four years to repay — so it’s important to first ensure that it’s the best financial decision for you. Start by asking yourself the following questions:

  • How much funding do I need? It’s important to accurately estimate the amount of funding you need to avoid paying more in interest or taking out a second personal loan. Your loan amount will also determine which lenders are available to you.
  • What is my credit score? This is easily one of the most important factors to consider when obtaining a personal loan because it will impact your eligibility for a loan and the terms available to you. If your credit score is low, consider improving it to receive a better rate on your personal loan.
  • Can I afford the monthly payment? While a higher monthly payment will allow you to repay your loan at a lower interest rate, it’s important that it fits into your budget. If you find that a high monthly loan payment would leave little money for other expenses, consider different loan terms.
  • How much debt do I already have? It’s important to evaluate your existing debt relative to your income because lenders will look at your DTI ratio when assessing your eligibility for a loan.
2
Do Your Research

To find the best personal loan in Fort Collins, you should compare lenders to see which best fits your profile. Evaluating lenders for their key features, such as APR rates, minimum credit score and income requirements, loan limits and terms, will help you choose the best one for your situation. Taking the time upfront to complete research will help you save money in the long run.

MoneyGeek’s guide is a great place to start when looking for the best lenders, but our recommendations are based on generic borrower profiles rather than your individual needs.

3
Wait

Once you’ve identified the lender that best suits your needs, wait a few days to think through your decision. It’s important to be confident in your choice, since a personal loan will take several years to repay, and, if improperly managed, could damage your finances in the long term.

During this time, you can consider other financing options that are available to you. If you find that a loan may negatively impact your financial situation, you should consider alternative options.

4
Read the Fine Print

To avoid missing key details, like fees for loan origination, late payments or early payments, it’s important that you read the fine print of your loan agreement.

Missing these could lead to unexpected charges that add up over the life of your loan. If you don’t understand any terms or fees, you should reach out to your lender directly for clarification.

5
Apply

If you are happy with your decision and chosen lender, you can submit your loan application. Most lenders offer online applications that can be completed in minutes, but you will need to provide supporting documents that verify your identity and employment status.

Make sure that you provide all the required details in the application to facilitate approval. In case you need help applying, most lenders provide online support, and, depending on the lender, you may also call or visit the lender for application assistance.

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

If your loan application isn’t approved, don’t be discouraged. Lenders may deny applications for various reasons, including an insufficient credit score or income.

After your application is denied, it’s best to ask the lender why it wasn’t approved. Depending on why your application was rejected, you may be able to modify the terms of your loan, like the loan amount or repayment term, to gain approval. If your application wasn’t approved due to an insufficient credit score, you should work on improving your credit score first before reapplying.

In the event your application for a personal loan is rejected, you may be tempted to consider payday loans as an alternative. However, MoneyGeek strongly cautions against this. Payday loans feature high interest rates and short repayment terms that make repayment difficult and costly.

Frequently Asked Questions About Personal Loans in Fort Collins

When shopping for personal loans in Fort Collins the best option for you will depend on your personal needs and borrower profile. MoneyGeek answered some of the most commonly asked questions below to help you learn more about personal loans.

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

Our Personal Loan Methodology

To determine the best personal loans in Fort Collins, Colorado, MoneyGeek reviewed over 30 lenders in the state. Our analysis was based on more than 35 data points across six key categories, including loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

For each criteria, MoneyGeek factored in the key data points that matter most to a consumer when looking for a personal loan lender. These include interest rates, loan limits, minimum requirements for income and credit score, application fees and funding time.

MoneyGeek also factors in each lender’s customer support, business ratings and user experience. We consider additional tools and features that enhance the user experience for the consumer, such as the availability of prequalification features and mobile apps.

MoneyGeek’s recommendations are made after careful consideration to ensure that your best interests are addressed. Our personal loan recommendations are intended to help you make smart financial decisions when choosing the best lender for your needs.

sources
Shield Insurance

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.

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