Best Debt Consolidation Loans in St. Louis of 2024

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Edited byMorgan Hull
Edited byMorgan Hull

Updated: December 28, 2023

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Best Debt Consolidation Loan Lenders in St. Louis, MO

To help you choose the best lender for your needs, MoneyGeek evaluated providers for over 30 data points, including interest rates, loan restrictions, minimum credit score requirements, loan amounts and customer service.

Based on MoneyGeek’s criteria, the top-ranked loan lender in St. Louis for debt consolidation loans is LightStream.

Best Overall Debt Consolidation Loan in St. Louis, MO: 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

    MoneyGeek’s pick for the best debt consolidation loan in St. Louis is LightStream. With same-day funding and a high borrowing limit of $100,000, LightStream offers fast and convenient personal loans that can easily be managed through its mobile application.

    Overall, LightStream is a good fit for those looking to consolidate higher loan amounts, such as auto loans and credit card debt. Unlike other borrowers, LightStream has no prepayment penalties, relatively affordable interest rates and a range of flexible repayment terms between two and seven years.

    However, LightStream loans cannot be used to pay off student debt or existing loans with the company. Those who wish to borrow smaller amounts should note that the minimum amount you can borrow is $5,000. In addition, LightStream has a credit score requirement of 660, so those with a poor credit score may not qualify.


    • Same-day financing available
    • Low to moderate starting APR
    • Mobile application
    • High maximum loan amount
    • No prepayment penalties


    • High minimum credit score requirement
    • Loans can't be used to pay off student debt
    • No pre-approval option

Runner-Up for Best Debt Consolidation Loan in St. Louis, MO: 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

    SoFi was established in 2011 and offers a number of financial services, including loans and refinancing. MoneyGeek found that SoFi is a strong debt consolidation lender due to its rapid funding, range of discounts, flexible payment terms and high maximum loan amount.

    One major perk of applying with SoFi is that you can do everything online. On SoFi's website, you can receive pre-approval and check your interest rates without your credit score being impacted. With unemployment protection, SoFi will also allow you to temporarily stop making payments in the event you lose your job. This is a feature rarely offered by other lenders.

    Although there are several advantages to choosing this lender, only those with the highest credit scores will qualify. Furthermore, its minimum loan amount of $5,000 is quite high in comparison to other lenders and may be more than most people need to consolidate their debt.


    • No hidden fees
    • High maximum loan amount
    • Unemployment protection
    • Automatic payment discount


    • High minimum credit requirement
    • High minimum loan amount
    • Co-signers not permitted

Best Debt Consolidation Loan for Bad Credit in St. Louis, MO: 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 was established in 2012 with the goal of making financial products more accessible to individuals with poor credit. Because of its low credit score requirement of 300, MoneyGeek chose Upstart as the best debt consolidation loan provider in St. Louis for those with bad credit.

    The lender provides a soft credit check during the prequalification process that won’t harm your credit score. You also have the option to repay your loan early without incurring any fees. With a low starting minimum loan amount of $1,000, Upstart is well suited to those looking to consolidate smaller debts.

    Although the lender provides loan products to those with poor credit, borrowers should be mindful that they may receive a high APR. Because of this, those with fair credit may consider a different provider that offers more favorable terms.


    • Suitable for small loan amounts
    • Low minimum credit score requirement
    • Soft credit check for prequalification
    • Low starting interest rate
    • No prepayment fees


    • Only two repayment length options
    • No same-day funding
    • High maximum interest rate

Best Debt Consolidation Loan for Good Credit in St. Louis, MO: 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

    Founded in 2017 in San Francisco, California, Upgrade is MoneyGeek’s top pick for individuals in St. Louis with good credit looking to consolidate debt. Those with the highest credit scores may qualify for the lowest starting interest rate, though it accepts applicants with a minimum credit score of 560.

    However, borrowers should note that they may be charged ACH return and check refund fees as well as late fees in the event of payment issues with Upgrade. Despite this, it is a good option for debt consolidation since it pays third-party lenders directly and even provides a discount for doing so. You may also get a discount for automatic payments.

    If you’re having trouble qualifying for a loan on your own, Upgrade also offers joint loans. When you apply with another individual, both your credit histories are considered, and the co-applicant is also liable for repaying the loan.


    • Low interest rates for those with high credit scores
    • Low minimum loan amount
    • Joint loans available
    • Quick access to funds
    • Variety of repayment terms


    • Potentially high APR
    • Origination fees
    • Relatively low maximum loan amount

How to Choose the Best Debt Consolidation Loan in St. Louis, MO, for You

The average borrower in Missouri has $14,625 in personal loans. A debt consolidation loan can be used to reduce this amount and repay it faster.

If you're considering applying for a debt consolidation loan in St. Louis, MoneyGeek outlined the following steps you should take to make sure it’s the best decision for you:

Ask Yourself the Important Questions

Before applying, ask yourself if you really need a loan to consolidate your debt.

  • How much funding do you need? The majority of lenders have specified minimum and maximum loan amounts. It’s recommended that you only take out what you need to consolidate your debt to avoid paying more money in interest.
  • What’s your credit score? Your credit score won’t just impact your eligibility for a loan, but it will determine the rates available to you.
  • Can you afford the monthly payments? Although it’s best to make a higher monthly payment to reduce the amount you’ll pay in interest, you should make sure that your chosen payment amount fits within your budget.
  • Do you have existing debts? If you have existing debt, it’s important to be aware that a high debt-to-income may impact your chances of being approved for a debt consolidation loan.
  • Is your debt manageable through other means? You should research your other options to find out if a debt consolidation loan is the best way to manage your finances.
Do Your Research

Since a debt consolidation loan takes between two and four years to repay, you should research different lenders to make sure you’re getting the best rate and terms. Some lenders run extensive credit checks that lower your credit score, so you should minimize the amount of loan applications that you submit.

MoneyGeek’s guide outlines the best debt consolidation lenders in St. Louis for general borrower profiles, but our findings may not best fit your unique circumstances.


After you’ve identified the best lender for your needs, it’s important to wait a few days before you apply. During this time, you can reflect on your options and consider if a debt consolidation loan is best for you.

Read the Fine Print

Failure to read the fine print of your loan agreement could cost you a significant amount of money. Frequently, hidden costs, such as those for loan origination, late payments and prepayment penalties, are included in the agreement.

If you don't fully understand all the terms and conditions that are stated in the fine print, speak with a financial expert or your preferred lender.


When you've accomplished the steps above, verified your lender's requirements and are happy with your decision, you're ready to sign up. To expedite your application process, you can gather the required materials in advance. Typically, lenders request that you provide proof of identification, address and income, but they may request additional documents depending on the provider.

Although you can apply for a loan online, it may be beneficial to speak with or call your selected lender if you have any concerns about your loan.

What to Do if You Can’t Get a Debt Consolidation Loan in St. Louis, MO

If your loan application for a debt consolidation loan is declined, you shouldn’t give up. First, contact the lender directly to find out why your application was rejected. A number of reasons like a low credit score, insufficient income or incomplete application could have caused your loan to be declined.

Often, simply modifying the terms of your loan agreement, like your repayment term or loan amount, could help you gain approval. If your credit score caused you to be rejected, you may want to work on improving it first before you reapply.

Some borrowers may be tempted to take out a payday loan that features minimal application requirements. However, MoneyGeek strongly advises against this. Payday loans feature high interest rates and very short repayment terms. If you can't make timely payments, you may end up with even more debt.

Calculate Your Monthly Payment

It's important to remember that personal loans must be paid back in periodic monthly installments at a specified interest rate. To estimate your approximate monthly payment, you can use MoneyGeek's calculator.


Frequently Asked Questions About Debt Consolidation Loans in St. Louis, MO

You can choose the best debt consolidation loan in St. Louis based on your requirements and financial situation. MoneyGeek answered a few frequently asked questions to help you find the best option for your needs.

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



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.