What is the best personal loan lender in Jacksonville?

Truist is the best lender overall for personal loans in Jacksonville. However, if you have bad credit Upstart is the best option, while SoFi is the best lender for those with good credit. Upgrade is the best lender for debt consolidation while Best Egg is the best option for home improvement loans.

Which lender in Jacksonville has the lowest interest rate?

Upstarthas the lowest rates starting at 3.22%. However, the rate you qualify for depends on your credit score.

Can I use a personal loan for vacations in Jacksonville?

You can use a personal loan to pay for a vacation in Jacksonville. Most lenders do not have usage limitations that restrict the use of personal loans for vacations. However, illegal activities like gambling are restricted by most lenders. It’s important that you check with your lender for any restrictions on fund usage before you submit your loan application.

Can I use a personal loan for home improvement in Jacksonville?

Yes, personal loans in Jacksonville can be used for home improvement. Most lenders allow usage of funds for home renovations. However, it’s best to check with your preferred lender since restrictions can vary between lenders.

What can I not use my personal loan for in Jacksonville?

You cannot use a personal loan in Jacksonville for illegal activities, gambling or investments. Some lenders also restrict usage of funds for education expenses. Each lender may have different restrictions on usage, so we advise that you check with your preferred lender.

How much can I borrow in Jacksonville?

You can borrow personal loans ranging from $1,000 to $100,000 in Jacksonville. However, the loan amount you can borrow depends on the lender, your creditworthiness and other rating factors.

How long does it take to get a personal loan in Jacksonville?

You can get a personal loan in Jacksonville within a day or up to a week, depending on the particular lender. Some lenders offer same-day funding while others take a few days to process applications and fund personal loans.

Can I pay off my loan early in Jacksonville?

Yes, most lenders in Jacksonville allow you to pay off your loan early without incurring early payment fees. However, some lenders may charge prepayment fees, so it’s important to always read the terms of your loan.

Top Lenders & Best Picks for You

Best Personal Loans in Jacksonville, FL

Personal loans can be used for emergency expenses, funding large purchases or consolidating debt. In Florida, the average personal loan debt is $10,400 at an average interest rate of 9.25%. However, limits and rates vary depending on your specific profile. To qualify for personal loans in Jacksonville, lenders evaluate you based on factors like your credit score, gross income and financial history.

WHAT WE’RE GEEKING OUT ON

The Best Overall Personal Loan Lender in Jacksonville
The Best Personal Loan Lender for Bad Credit in Jacksonville
The Best Personal Loan Lender for Good Credit in Jacksonville
The Best Personal Loan Lender for Debt Consolidation in Jacksonville
The Best Personal Loan Lender for Home Improvements in Jacksonville
How to Choose the Right Personal Loan for You
Frequently Asked Questions About Personal Loans in Jacksonville

MoneyGeek's Picks for Best Personal Loan Lenders in Jacksonville, FL

MoneyGeek reviewed lenders for a variety of data points to help you find the best personal loans in Jacksonville. Our analysis took into consideration various factors including lenders’ interest rates, loan limits, repayment terms and applicable fees. We also factored in minimum credit score and gross income requirements, accessibility and user experience to rank the best lenders in Jacksonville

MoneyGeek found that Truist is the best lender overall for personal loans in Jacksonville but the best option for you may vary depending on your particular profile and needs. Those with bad and good credit will get the best personal loans from Upstart and SoFi, respectively. For borrowers looking to use their personal loans for debt consolidation or home improvement, Upgrade and Best Egg are your best options.

Best Personal Loan Lender Overall in Jacksonville: Truist

Truist
- 8.14% to 18.99%APR Range
- NoneMinimum Credit Score
- $3,500 to $50,000Loan Amount Range
- 6 to 60 monthsRepayment Terms
- Next DayTime to Receive Funds
MoneyGeek found that Truist is the best lender for the average borrower in Jacksonville. The company was formed from the merger of BB&T and SunTrust and offers personal loans to borrowers in 15 states, including Florida. Its A+ Better Business Bureau (BBB) rating, indicates that the company provides excellent customer service.
Truist stands out among lenders in Jacksonville for offering relatively low APR rates and flexible loan limits. Depending on your creditworthiness, you’ll receive an interest rate ranging from 8.14% to 18.99%, with no origination or early payment fees. If you need funds urgently, Truist disburses funds quickly, usually within the next day.
Truist does not have a specific gross income requirement, but borrowers need a lengthy credit history to qualify. This lender does not have a prequalification option so you cannot check rates online before applying.
Pros
Low interest rates
No origination fees
No prepayment fees
No late fees
Auto payment discounts

Cons
No prequalification options
Conducts hard credit checks
High minimum credit score requirement
Limited availability — only offered in 15 states
Restrictions on fund usage

Best Personal Loan Lender for Bad Credit in Jacksonville: 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 is an artificial intelligence (AI) lending platform that was founded in 2012. The lender offers borrowers flexible loan limits with repayment terms of up to 60 months. To qualify for an Upstart loan you don’t need a lengthy credit history, making it the best option for borrowers with poor credit.
Although the lender does have a minimum gross income requirement, it’s relatively low at $12,000. Borrowers can check online to see if they pre-qualify for a loan without affecting their credit score. With next-day funding available, Upstart is also a good option if you need funds quickly.
Though Upstart only requires a relatively low credit score of 300, its personal loans come with a high maximum APR — up to 35.99%. The lender also has origination fees and late fees, potentially increasing the cost of your loan.
Pros
Relatively low credit score requirement
No prepayment fees
Flexible payment options
Soft credit inquiry
Quick funding

Cons
High maximum APR rates
Late fees
Origination fees up to 8%
Minimum gross income requirement
Co-signers not allowed

Best Personal Loan Lender for Good Credit in Jacksonville: 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
SoFi was founded in 2011 and was the first company to refinance federal and private student loans. As the company grew, the lender expanded its loan product offerings to include personal loans in 2015. Today, this lender is the best option for borrowers with good credit scores that need a larger personal loan at a relatively low APR.
You can get a personal loan from SoFi ranging from $5,000 to $100,000 at an APR between 5.74% and 20.28%. SoFi personal loans can be used for various purposes including funding home renovations, financing big purchases and consolidation of debt. The lender has a quick and convenient online application process, including the option to check if you prequalify without negatively impacting your credit score.
However, funds from SoFi loans cannot be used for education expenses. If you’re seeking a loan for this reason, you should apply with a different loan lender. The lender’s high minimum gross income requirement of $50,000 may also prevent some borrowers from applying for a loan.
Pros
No origination fees
No prepayment fees
Flexible loan limits
Auto-pay discounts
Employment protection if you lose your job

Cons
High minimum gross income requirement of at least $50,000
High Minimum credit score requirement
Restrictions on usage of funds
Debt-to-income (DTI) limit of 43%
Fund disbursement takes up to two days

Best Personal Loan for Debt Consolidation in Jacksonville: 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
For borrowers looking for the best personal loans in Jacksonville to consolidate debt, Upgrade is their best option. This lender will pay your creditors directly if your loan is for debt consolidation.
Established in 2016, Upgrade offers personal loans with flexible loan limits ranging from $1,000 to $50,000 with a variety of repayment terms. Funds are disbursed relatively quickly — usually within the same business day of your loan approval. However, you need a minimum credit score of 560 to qualify and loans are subject to origination fees.
Pros
Quick funding of loans
No prepayment fees
Pre-qualification process available
No minimum gross income requirement
Direct payment to creditors for debt consolidation loans

Cons
High APR
Origination fees
Late fees
Co-signers not allowed
Restriction on fund usage

Best Personal Loan for Home Improvement in Jacksonville: 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 was founded in 2014 and is the best lender in Jacksonville for borrowers who want a personal loan for home improvement or renovations.
To qualify for a Best Egg personal loan you need a minimum credit score of 700 and a gross income of at least $50,000. Typically, loans are disbursed in one to three days, so Best Egg is a good choice for borrowers who need funds quickly. You can also check rates online without affecting your credit score using the pre-qualification option.
Compared to other lenders, Best Egg has relatively high fees and APR rates, but you may qualify for lower interest rates based on your creditworthiness. This lender does not allow co-applicants.
Pros
Prequalification option with soft credit checks
No prepayment fees
Auto pay discount
Quick fund disbursement
No restrictions on fund usage

Cons
Origination fees
Late fees
High minimum credit score requirement
High minimum gross income requirement
Co-signers not allowed

How to Choose the Best Personal Loan Lender in Jacksonville for You

The average personal loan amount in Florida is $10,400 but factors like your credit score, gross income and existing debt will impact your individual loan rate and limit. When shopping for personal loans in Jacksonville, it’s important to compare lenders based on your profile and needs, since rates and terms may vary.

Understanding credit score requirements and other minimum requirements for qualification as well as repayment options are some of the factors that will guide you in finding the best lender for your needs.

Ask Yourself the Important Questions

Before taking out a personal loan, it’s important to assess your financial situation and capacity to repay the loan. At a minimum, MoneyGeek recommends asking yourself the following questions before applying for a loan:

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

Personal loans require a long-term financial commitment so ensuring you choose the right lender is key. To find the best option for you, you should research different lenders for their minimum requirements, rates and terms. This will help you find the most favorable terms and rates for your profile.

MoneyGeek’s recommendations highlight the best lenders for different profiles and scenarios, but we still encourage that you complete your own research to find the best lender for you based on your unique needs.

Wait

It’s important to wait a day or two before submitting a personal loan application. During this time, you can carefully consider all your options, including other financing alternatives, to make sure that a personal loan is the right decision for you. A personal loan will have a long-term impact on your finances, so it’s best to avoid making a hasty decision.

Read the Fine Print

We recommend that you read the terms included in your loan so that you understand all the fees and rates of your agreement. Apart from interest, personal loans may also incur other charges like late and prepayment fees, among others. If you’re concerned about a feature of your loan agreement, you should reach out to your loan lender for further clarification.

Apply

Once you’ve selected a loan lender and understand all the loan terms, you can submit your personal loan application. The lender will likely request that you provide personal information, including proof of income, financial statements and other details. In most cases, you will be able to apply for a personal loan online, but some lenders require that you complete the application in person.

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

Loan applications are denied for a variety of reasons. Lenders may decline your loan if you fail to meet their minimum credit score or DTI ratio requirements. However, if your application is denied for these reasons, you shouldn’t worry — these are factors that you can improve over time.

If you’re rejected for a loan, you should reach out to the lender to find out why your loan was declined. This will help you figure out what you can do to improve your application before reapplying with the lender or applying with a different lender.

We strongly recommend that you improve your application before applying for another loan, as this could negatively impact your credit score. We also discourage borrowers from taking out payday loans, as they feature high interest rates and short repayment periods.

Frequently Asked Questions About Personal Loans in Jacksonville

Personal needs and various credit and income factors will impact the best personal loan lender for you. We answered commonly asked questions about personal loans in Jacksonville to help you find the best options for your profile.

Our Personal Loan Methodology

MoneyGeek analyzed over 30 personal loan lenders using 35+ individual data points across six main categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

For each category, we considered multiple data points that we feel have the most significant impact when choosing a personal loan lender. These factors include APR rates, available loan limits, minimum credit score and gross income requirements, application fees and disbursement time. MoneyGeek values you, the consumer, so our analysis also factors in each lender’s customer support, business ratings and additional features that ensure a better user experience like prequalification, payment options and availability of mobile apps.

After careful consideration, we pick our recommendations with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing the right lender for your needs.

sources

Best Egg. "Personal Loans." Accessed June 15, 2022.
SoFi. "Compare Rates and Terms." Accessed June 15, 2022.
Truist. "Personal Loans." Accessed June 15, 2022.
Upstart. "Personal Loans." Accessed June 15, 2022.
Upgrade. "Personal loans." Accessed June 15, 2022.

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.