What is the best personal loan lender in Orlando?

MoneyGeek chose Truist as the overall best personal loan lender in Orlando. The best lender depends on your unique needs. For example, if you have good credit, you might want to consider SoFi.

Which lender in Orlando has the lowest interest rate?

For personal loans in Orlando, Upstart offers a starting APR of 3.22% for certain borrowers.

Can I use a personal loan for vacations in Orlando?

Most lenders allow you to use a personal loan for a vacation. Be sure to double-check the lender’s conditions since some have restrictions on funding usage.

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

Absolutely. For Orlando residents, we recommend that you consider a personal loan from Best Egg for home improvements.

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

While restrictions vary per provider, several lenders don’t allow personal loans to be used for investments, post-secondary education, business purposes or gambling.

How much can I borrow in Orlando?

It depends on the personal loan provider. Some have a maximum loan amount of $50,000, while others have $100,000. Factors like your income and credit score can affect your loan limit.

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

It usually takes one to seven days. Truist offers same-day funding, but funding can take up to a week with SoFi.

Can I pay off my loan early in Orlando?

Yes, you can. Just make sure that your lender doesn’t charge prepayment penalties, or you’ll have to spend more.

Top Lenders & Best Picks for You

Best Personal Loans in Orlando, FL

Personal loans are helpful when you need to pay for significant expenses like weddings and home improvements or if you want to consolidate debt. In Florida, the average personal loan debt is $10,400 at an average interest rate of 9.25%.

Personal loans are usually unsecured, so your credit score is an important factor to lenders. So is the total amount of debt you carry, your income, debt-to-income ratio and employment history. MoneyGeek’s research found that the average credit score in Florida is 713.

To get the best personal loan in Orlando, you should make sure it meets your needs and financial situation.

WHAT WE’RE GEEKING OUT ON

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

MoneyGeek’s Pick for Best Personal Loan Lender in Orlando, FL: Truist

To help you find the top-rated lenders in Orlando, Florida, MoneyGeek analyzed over 30 personal loan-related data points.

We evaluated each lender’s loan terms, interest rates and fees. We also looked at their credit score and income requirements. Our research further included factors such as how easy it is to apply for a loan and the lender’s customer service reputation.

Best Overall Personal Loan Lender in Orlando, FL: 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
Through the merger of BB&T and SunTrust, Truist was established in 2019 and serves approximately 12 million customers. Truist is our choice of top lender for personal loans in Orlando. You can borrow up to $100,000 and take up to 60 months to repay it. And if you’d like to pay your loan early, there are no prepayment penalties.
There is no minimum required credit score. The average credit score in the state at 713.
However, Truist does have restrictions on the usage of funds. For example, you cannot use your personal loan to refinance an existing loan from the same lender or for your business. Similarly, you can’t purchase stocks with it or use the money for post-secondary educational expenses.
Pros
No origination fee, late payment fee or prepayment penalties
Auto pay discount 0.50%
Same day funding upon approval
Joint loans available

Cons
Restrictions on how you use loan funds
Performs hard credit checks
Doesn’t accept individuals with new or no credit
APR range: 8.14% to 18.99%
Minimum/maximum loan amount: $3,500 to $50,000
Minimum credit requirements: None
Repayment terms: Six to 60 months
Time to receive funds: Next day
on Truist Website

Best Personal Loan Lender for Bad Credit in Orlando, FL: 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
It can be challenging to find personal loan lenders when you have poor credit. With its minimum required credit score of 300, however, Upstart is an excellent option for individuals with bad credit in Orlando. Founded in 2012, the AI-enabled lending platform partners with banks and credit unions to make affordable credit more accessible.
The company also conducts a soft credit check, which means that your credit report isn’t affected during the application process.
Still, Upstart may not suit you if you need a loan amount above $50,000. You can borrow up to $100,000 from other lenders. To qualify for a personal loan with Upstart, you’ll also need a debt-to-income ratio below 45% and a minimum of $12,000 in gross income.
Pros
Low minimum credit score and minimum income requirements
No restrictions on usage of funds
No prepayment penalty
Get funds the next day
Joint loans available

Cons
Origination fee can be up to 8%
Required debt-to-income limit is 45% or less
Does not allow cosigners
Does not accept applicants with new or no credit
Denies when bankruptcies or delinquencies are on your credit report
APR range: 3.22% to 35.99%
Minimum/maximum loan amount: $1,000–$50,000
Minimum credit requirements: 300
Repayment terms: 36 to 60 months
Time to receive funds: Next day
on Upstart Website

Best Personal Loan Lender for Good Credit in Orlando, FL: 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
Founded in 2011, SoFi is MoneyGeek’s top pick for borrowers in Orlando with good credit. The lender’s mission statement is to help their customers reach financial independence that allows them to realize their ambitions.
SoFi is not ideal for anyone with less than good credit. You need a credit score of at least 680 and a $50,000 gross income to qualify for a personal loan. The lender also requires a debt-to-income ratio of 43% or less. However, the company has no prepayment penalties, origination fees or late fees. That means you can save money upfront and throughout the term of the loan.
You also get competitive rates with SoFi, can apply online and use their mobile app to check your credit score weekly and manage your account remotely.
Pros
No origination fee, late fees or prepayment penalties
Discount of 0.25% for automatic repayment
Conducts soft credit check
No restrictions on fund usage
Competitive rate match

Cons
$50,000 minimum gross income requirement
Employment requirement
No cosigners
Loan approval can take up to one week
APR range: 5.74% to 20.28%
Minimum/maximum loan amount: $5,000–$100,000
Minimum credit requirements: 680
Repayment terms: 12 to 60 months
Time to receive funds: Two days
on SoFi Website

Best Personal Loan Lender for Debt Consolidation in Orlando: 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
MoneyGeek found that Upgrade is the best option for debt consolidation in Orlando. The provider requires borrowers to have a credit score of 560 and pays creditors directly. It doesn’t have an income requirement, but you do need to be employed.
Keep in mind that Upgrade has several restrictions on personal loans. You cannot use funds to pay for investments, post-secondary education expenses and gambling. It also has a maximum loan limit of $50,000. This is lower than the other lenders, some of which offer loans of up to $100,000.
Launched in 2017, Upgrade’s online and mobile banking services eliminates fees on everyday transactions, offering affordable and responsible credit with their loans.
Pros
Directly pays creditors in case of debt consolidation
No prepayment penalty
1% auto payment discount
Credit score requirement is moderate at 560
Joint loans available

Cons
Restrictions on use of funds
3%-8% origination fee
Charges late fees
No cosigners
APR range: 5.94%–35.47%
Minimum/maximum loan amount: $1,000–$50,000
Minimum credit requirements: 560
Repayment terms: 36 to 60 months
Time to receive funds: Same day
on Upgrade Website

Best Personal Loan Lender for Home Improvement in Orlando: 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 is MoneyGeek’s top choice for Orlando residents looking to improve their homes. Founded in 2013, Best Egg is a machine learning powered online credit and financial wellness platform owned and operated by Marlette Holdings.
To qualify for a personal loan from Best Egg, you’ll need a minimum credit score of 700 and a gross income of $50,000. You can also pay your loan off early since the provider doesn’t charge prepayment penalties.
With Best Egg, you can borrow up to $50,000. One drawback is that you will pay an origination fee of at least 1%, and it could be as high as 6%. Similarly, the highest interest rate you could be charged is 35.99%, and the lender does not offer a competitive rate match. Best Egg might not be ideal if you need a higher loan amount. Other lenders in the city offer loans of up to $100,000.
Pros
No restrictions on usage of funds
0.50% auto pay discount
No prepayment penalty
Performs soft credit inquiries
Discloses rates on website

Cons
Origination fees up to 6%
No cosigners or joint loans
Gross income requirement of $50,000
APR range: 4.99% to 35.99%
Minimum/maximum loan amount: $2,000–$50,000
Minimum credit requirements: 700
Repayment terms: 36 to 60 months
Time to receive funds: Next day
on Best Egg Website

How to Choose the Best Personal Loan Lender In Orlando for You

Personal loans can give that extra financial support you need for unexpected expenses like funerals, large purchases or home improvements. You’re certainly not the only person looking for an unsecured loan: Florida's average personal loan debt is $10,400. You’ll need to consider a number of factors when applying for a personal loan in Orlando, such as your credit score, current debt and income.

To guide you through your personal loan journey, MoneyGeek lists a few crucial steps.

Ask Yourself the Important Questions

Before you even consider personal loan companies, it’s essential to know your current needs and financial situation. Double-check if you are able to pay off a loan over an extended period, without stretching yourself too thin. Also, check which lenders you qualify for based on their specific requirements.

The following questions can help you save time and narrow down your choices of lenders:

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

Because each lender has different requirements, conditions and rates, take the time to shop around and compare. A typical loan term is about 2–4 years, so you’ll want to be sure before committing.

At this stage, ask yourself what your priorities are. You may find that a particular lender caters to only half of what you need. You’ll want to find a lender that fits your needs. MoneyGeek researched several lenders so you can get a headstart. But if none of our recommendations fit your needs, other providers are available in Orlando.

Wait

After you’ve done your research, think it over. Personal loans are big commitments, and it’s okay to take your time and give yourself a few days before you decide. You also need to be confident in your chosen lender. Revisiting your options after some time has passed lets you make a more objective decision.

Read the Fine Print

Because hidden costs may show up in the lender’s loan agreement, you’ll want to read the fine print closely. In addition to prepayment penalties, late fees and origination fees, you might find administration fees or other charges. The fine print could contain important details about your personal loan in Orlando.

Apply

Lenders require your identification, address verification and proof of income. While it’s easier to apply online (and most lenders offer that option), you can call or visit the provider if you prefer.

What To Do if You Can’t Get a Personal Loan in Orlando, FL

Having your application denied doesn’t mean you’re at the end of your personal loan journey. There may be several reasons you’re having trouble getting a personal loan in Orlando. You might not have met specific criteria like the minimum credit score, gross income or debt-to-income ratio.

Reach out to your lender and ask for the specific reason your loan wasn’t approved. If possible, modify your application to shorten the loan term or decrease the loan amount, and resubmit. If this doesn’t work, try applying with another lender. However, don’t do this until you’ve improved whatever caused your first application to get denied.

Be wary of payday loans. While tempting, payday loans have extremely high interest rates and short payback periods.

Frequently Asked Questions About Personal Loans in Orlando, FL

MoneyGeek answers commonly asked questions about personal loans in Orlando to guide you through the process. Remember that the best lender for you depends on your needs, income and credit score.

Our Personal Loan Methodology

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

Within each ranking criteria 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 amount, minimum credit score, minimum income amount, application fees and disbursement time.

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, our picks are determined with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing a lender that meets your needs.

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.