Top Lenders & Best Picks for You
Best Personal Loans in Orlando, FL
Updated: December 28, 2023
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- 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
Best Personal Loan Lender for Bad Credit in Orlando, FL: Upstart
Best Personal Loan Lender for Good Credit in Orlando, FL: SoFi
Best Personal Loan Lender for Debt Consolidation in Orlando: Upgrade
Best Personal Loan Lender for Home Improvement in Orlando: Best Egg
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.
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.
For personal loans in Orlando, Upstart offers a starting APR of 3.22% for certain borrowers.
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.
Absolutely. For Orlando residents, we recommend that you consider a personal loan from Best Egg for home improvements.
While restrictions vary per provider, several lenders don’t allow personal loans to be used for investments, post-secondary education, business purposes or gambling.
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.
It usually takes one to seven days. Truist offers same-day funding, but funding can take up to a week with SoFi.
Yes, you can. Just make sure that your lender doesn’t charge prepayment penalties, or you’ll have to spend more.
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
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