Best Debt Consolidation Loans in San Francisco of 2024

Updated: December 28, 2023

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Best Debt Consolidation Loan Lenders in San Francisco, CA

The best debt consolidation loan in San Francisco depends on your borrower profile. According to MoneyGeek’s findings, LightStream is the best lender for debt consolidation loans, whereas SoFi is the second-best lender. Upgrade and Upstart were also ranked highest for those with good and bad credit, respectively.

MoneyGeek ranked companies for over 30 data points, including the lender’s loan limits, repayment and disbursement durations, interest rates, Better Business Bureau (BBB) ratings and credit score requirements. With this analysis, borrowers can compare rates and features between lenders and select the best option for their needs.

Best Overall Debt Consolidation Loan in San Francisco, CA: LightStream

  • LightStream

    • 7.49% to 25.49%APR Range
    • UndisclosedMinimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 144 monthsRepayment Terms
    • Same day funding possibleTime to Receive Funds

    LightStream offers loan products to eligible customers with a minimum credit score of 660. Managed by Truist bank, the lender provides San Francisco residents with debt consolidation loans between $5,000 and $100,000.

    LightStream features a repayment period ranging from two to seven years. Although only those with the highest credit scores will receive the lender’s lowest advertised rate, its maximum APR is still relatively low in comparison to other providers. To reduce their APR by an additional 0.5%, customers can set up automatic payments.

    Note that LightStream restricts the usage of personal loan funds. For instance, you cannot use the funds to refinance an existing loan from the lender or repay a student loan. Borrowers with bad or fair credit will not qualify.


    • High maximum loan amount
    • No origination, prepayment or late fees
    • Quick disbursement of funds
    • Flexible repayment terms
    • Autopay discount of 0.5%


    • Hard credit checks
    • Restrictions on the usage of funds
    • Co-signers not allowed

Runner-Up for Best Debt Consolidation Loan in San Francisco, CA: SoFi

  • SoFi

    • 8.99% to 29.99%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • 2 DaysTime to Receive Funds

    Based on MoneyGeek’s analysis, SoFi offers the second-best debt consolidation loans in San Francisco for borrowers with a good-to-excellent credit score. With a minimum FICO score of 680, you can receive as much as $100,000 from the lender.

    SoFi offers debt consolidation loans with repayment periods up to seven years. Although the lender’s advertised minimum interest rate is higher than other providers, its maximum rate is also lower, meaning more borrowers are likely to qualify for a fair rate. Its discount for auto payment may also allow borrowers to save an additional 0.25% on their interest rate.

    Customers may receive their loan a few days after their application is approved, making SoFi an ideal lender for those that need funds quickly. Unique to this lender is its unemployment protection option. This feature allows those who lose their jobs to postpone payments for a specific period.


    • Soft credit inquiry
    • No origination fees or prepayment fees
    • Unemployment protection offered
    • Autopay discount
    • High maximum loan amount


    • Good-to-excellent minimum credit score requirement
    • Co-signers not permitted
    • Relatively high minimum loan amount of $5,000

Best Debt Consolidation Loan for Bad Credit in San Francisco, CA: Upstart

  • Upstart

    • 6.4% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 3 or 5 yearsRepayment Terms
    • 1 business dayTime to Receive Funds

    Upstart offers the best debt consolidation loans in San Francisco for borrowers with bad credit scores; those with a minimum credit score of 300 can still qualify for a loan. The lender was founded in 2012 and provides between $1,000 and $50,000 for debt consolidation.

    In addition to credit score, Upstart considers other factors, like income level and education history, when evaluating your debt consolidation loan application. Although the company offers one of the lowest starting APRs, its maximum interest rate is extremely high relative to other providers, and it offers few options for repayment terms.

    Upstart conducts a soft credit check, which won’t negatively impact your credit score. However, if you have good credit and need to consolidate a large amount of debt, you may find a better option with a different lender.


    • Low minimum loan amount available
    • No prepayment penalty
    • Low minimum credit score requirement
    • Joint loans available
    • Next-day funding
    • Soft credit check during prequalification


    • Relatively low maximum loan amount of $50,000
    • Origination fee

Best Debt Consolidation Loan for Good Credit in San Francisco, CA: Upgrade

  • Upgrade

    • 8.49% to 35.99%APR Range
    • UndisclosedMinimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Within a dayTime to Receive Funds

    MoneyGeek ranked Upgrade as the best debt consolidation loan lender in San Francisco for borrowers with good credit. The company was established in 2017 and offers up to $50,000 to those who meet the minimum credit score of 560.

    Even though borrowers with a fair credit score may qualify for a loan, they may be subject to a high interest rate. The lender also charges up to 8% in origination fees, increasing the cost of your loan amount.

    Funds with an Upgrade debt consolidation loan are typically dispersed the day after you’re approved. Prior to officially submitting an application, you can see what rate you’ll receive without your credit score being impacted.


    • Quick funding
    • Soft credit check
    • Direct payment to third-party creditors
    • Fair minimum credit score requirement
    • Autopay discount


    • Origination fees
    • Relatively low maximum loan amount
    • High maximum APR

How to Choose the Best Debt Consolidation Loan in San Francisco, CA, for You

The average personal loan debt in San Francisco is $16,790, with an average interest rate of 10.21%. You may consider applying for a debt consolidation loan if you wish to combine your debts into one monthly payment at a significantly lower interest rate.

Before applying for a debt consolidation loan in San Francisco, you should take the following steps:

Ask Yourself the Important Questions

There are several questions you should ask yourself to determine if a debt consolidation loan is the best option for you.

  • How much funding do you need? Accurately estimating the amount of money you need to consolidate your debt will help you save on interest.
  • What’s your credit score? Because your credit score will impact your eligibility for a loan, as well as the loan terms that you’ll receive, it’s essential to know where your credit score falls relative to other providers.
  • Can you afford the monthly payments? It’s important to repay your debt consolidation loan, but you should only make a monthly payment that fits within your budget. Attempting to repay your loan too quickly through a high monthly payment may cause you to fall short of your other financial goals.
  • Do you have existing debts? The amount of debt you wish to consolidate will impact the lender that’s best for you.
  • Is your debt manageable through other means? Typically, the interest rate you’ll receive on a debt consolidation loan is lower than those for your individual loans. However, there are rare cases in which the interest rate on your individual loans may actually be lower. In this case, it may not make sense to use a debt consolidation loan.
Do Your Research

It’s important to thoroughly research each provider to find the best debt consolidation lender for your needs. You should compare providers for the terms in their loan agreements, such as repayment terms, loan amounts, interest rates and their eligibility requirements, like credit score and income level.


After choosing the best lender for your needs, you should wait a few days before applying. During this time, you can think about if a debt consolidation loan will help you meet your financial goals, or if this lender in particular will help you achieve them.

Read the Fine Print

Lenders will provide a loan agreement that outlines the terms of your loan, including fees for early repayment, loan origination and late payments. Prior to signing your agreement, you should make sure that you’re aware of and understand these terms. Taking the time to thoroughly read your loan agreement upfront can save you a significant amount of money in unplanned costs.


After you’ve read through the fine print of your loan agreement and are confident in your lender choice, it’s time to submit your application. To save time on your application, you should gather all pertinent documents, like proof of identification, address, income and employment, in advance. Often, you can apply online, in person or over the phone.

What to Do if You Can’t Get a Debt Consolidation Loan in San Francisco, CA

If your application is rejected, you shouldn’t be alarmed. Loan applications are often rejected for several reasons, including a low credit score, insufficient income or incomplete application. To find out why your application was rejected and request changes to your application, you should contact your lender.

Sometimes, simply modifying the terms of your loan agreement, like increasing the repayment period or reducing the loan amount, can lead to your application’s approval. However, if the lender cites an issue with your credit score, you may need to consider other lenders, submit a joint application or focus on improving your credit score altogether before reapplying.

Although you may be tempted to apply for short-term loans, like a payday loan, MoneyGeek strongly advises against this. These loans feature extremely high interest rates and short repayment periods that could cost you a significant amount of money.

Calculate Your Monthly Payment

Once you receive your loan, you will commit to making monthly payments for the lifetime of the loan. Note that these repayments comprise the premium amount plus interest. You can use MoneyGeek’s debt consolidation loan calculator to estimate how much you will need to pay per month for your type of profile.


Frequently Asked Questions About Debt Consolidation Loans in San Francisco, CA

Although there are several debt consolidation loan lenders in San Francisco, the best option for you will be based on your financial goals. To help you identify the best lender for you, MoneyGeek answered the following most frequently asked questions:

What is the best debt consolidation loan lender in San Francisco?
Which lender in San Francisco has the lowest interest rates for debt consolidation?
What kind of debts can I not use my debt consolidation loan for in San Francisco?
How much debt can I consolidate in San Francisco?
How long does it take to get a debt consolidation loan in San Francisco?
Can I pay off my loan early in San Francisco?



MoneyGeek reviewed more than 30 personal loan lenders using at least 35 individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Within each ranking category, we considered several individual data points that we feel carry the most weight when choosing a personal loan lender. These factors include APR ranges, available loan amounts, minimum credit scores, minimum income amounts, application fees and disbursement times.

Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible — like prequalification, payment options and mobile apps.

After careful consideration and calculation, we make our picks with your best interests in mind. Our personal loan recommendations and expert tips are meant to help you make smart financial decisions when choosing a lender that meets 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.