Best Personal Loans in Tallahassee, FL: Top Lenders & Best Picks for You

Updated: February 14, 2024

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WHAT WE’RE GEEKING OUT ON

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

MoneyGeek rated personal loan providers in Tallahassee based on over 30 data points. We checked lenders' APRs, loan amounts, fees, funding times, credit score requirements and more.

Our analysis shows Truist is the best personal loan lender in Tallahassee. However, the best overall doesn't mean the best for every situation.

The top provider changes according to the borrower’s financial profile and preferences. For example, we found SoFi is the best for borrowers with good credit, and Upgrade is our pick for debt consolidation.

Best Overall Personal Loan Lender in Tallahassee: 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

    Truist is MoneyGeek's pick as Tallahassee's overall best personal loan lender. It offers personal loans ranging from $3,500 to $50,000.

    Truist provides a streamlined evaluation process and often funds loans within a day.

    The company also offers low interest rates and doesn't charge origination fees.

    You need good-to-excellent credit to qualify for a Truist personal loan. Unfortunately, it lacks a prequalification process, meaning it runs a hard credit check before telling you your rates.

    Pros

    • No origination fees
    • Up to $50,000 loan amount
    • Fast loan evaluation and funding
    • Relatively low interest rates

    Cons

    • Requires good-to-excellent credit
    • Lacks prequalification process
    • $3,500 minimum loan amount
    Truist

Best Personal Loan Lender for Bad Credit in Tallahassee: 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

    MoneyGeek found Upstart is the best personal loan lender for Tallahassee residents with bad credit.

    Upstart looks beyond FICO scores and uses artificial intelligence to check applications. Partly because of this, you can get an Upstart loan even if you have bad credit.

    The company only requires a soft credit pull to prequalify. So, you can get a quote without affecting your credit.

    Upstart's largest loan is lower than other lenders, but so is its smallest at $1,000. This means you can take care of smaller expenses without having to get more money than you need.

    The company's loans can be funded within one day and repaid for 36 to 60 months.

    Upstart doesn't charge prepayment fees. However, loans come with origination fees and feature high interest rates.

    Upstart is a fintech company created in 2012 and has since funded over $30.5 billion in loans.

    Pros

    • Allows bad-credit borrowers
    • Uses factors besides FICO rates to assess applications
    • Checks rates through soft credit pull
    • Doesn’t charge prepayment fees

    Cons

    • Charges origination fees
    • Potentially high interest rates
    • Limited loan amount
    Upstart

Best Personal Loan Lender for Good Credit in Tallahassee: 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

    If you have good credit, you normally have access to more loan companies. MoneyGeek’s analysis shows SoFi is the best personal loan lender in Tallahassee if you have good credit.

    SoFi lets you borrow up to $100,000 in personal loans and repay in 12 to 60 months. This is a great option if you need to borrow a huge amount but don’t want to deal with high monthly installments.

    Moreover, SoFi doesn’t charge origination, prepayment and late payment fees. It offers an autopay discount and a relief program if you become unemployed.

    Although SoFi’s offer is attractive, it’s not for most people. You need a good-to-excellent credit score to qualify with this company. Despite that, it only requires a soft credit pull to check your rates.

    SoFi stands for Social Finance, and this company has funded more than $50 billion in loans for over 4 million members since it was created in 2011.

    Pros

    • Doesn’t charge origination, prepayment and late payment fees
    • Has autopay discount
    • Conducts soft credit checks to verify rates
    • Offers unemployment protection

    Cons

    • High credit requirement
    • $5,000 minimum loan amount
    SoFi

Best Personal Loan Lender for Debt Consolidation in Tallahassee: 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

    When it comes to debt consolidation, MoneyGeek found Upgrade is the best personal loan lender in Tallahassee.

    Upgrade’s personal loans range from $1,000 to $50,000 and come with a repayment period of up to 60 months. It may be ideal if you want to consolidate small loans and have low monthly payments.

    Further, Upgrade has a straightforward application process beginning with a soft credit pull. If approved, the company can fund your loan within one business day.

    Upgrade doesn't charge prepayment fees. But its loans carry origination fees and may have high interest rates.

    Upgrade has funded over $19 billion in credit to millions of families since it was founded in 2017.

    Pros

    • Swift funding times
    • Doesn’t charge prepayment fees
    • $1,000 minimum loan amount
    • Loan repayment of up to 60 months
    • Conducts soft credit pulls

    Cons

    • With origination fees
    • Potentially high APR
    • Charges late payment fees
    Upgrade

Best Personal Loan Lender for Home Improvement in Tallahassee: 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

    MoneyGeek learned Best Egg’s personal loans are the best in Tallahassee for home renovation projects.

    With Best Egg, you can get personal loans ranging from $2,000 to $50,000. Loans are payable for up to 60 months and can be funded immediately. This offer is appealing to people who want to borrow small amounts.

    Best Egg accepts applicants with bad credit and looks at applications in a holistic way. But you’ll have to deal with potentially high interest rates with this lender.

    Best Egg doesn’t charge prepayment fees, but its loans come with origination fees.

    Since its establishment in 2014, Best Egg has processed over 1 million loans. Cross River Bank and Blue Ridge Bank underwrite its loans.

    Pros

    • Considers nonconventional factors
    • Doesn’t charge prepayment fees
    • Performs soft credit checks
    • $2,000 minimum loan amount

    Cons

    • Charges origination fees
    • Potentially high interest rates
    • With returned payment fees
    • Low maximum loan amount
    Best Egg

Where to Start: How to Choose the Best Personal Loan Lender in Tallahassee for You

Personal loans often — though not always — feature fixed interest rates and repayment terms. Plus, lenders frequently release your money quickly.

You can use personal loans for many expenses, like special occasions, trips, purchases or emergencies. But lenders may place restrictions, particularly on using them for education.

Nonetheless, you should consider some important factors before you get a personal loan. MoneyGeek broke down five key steps to help you make a well-informed decision.

1
Ask Yourself the Important Questions

Start your personal loan application journey by better understanding your situation. We suggest you ask yourself these important questions:

  • How much funding do I need? You’ll be repaying your personal loan with interest. Avoid unnecessary interest payments by only borrowing the amount you need.
  • What's my credit score? To save time and energy, know your credit score to identify companies where you’re eligible to apply.
  • Can I afford the monthly payment? List your monthly expenses and check if you can afford your potential monthly payments.
  • How much debt do I already have? If you have existing debt, you’re a riskier borrower. Calculate your debt-to-income ratio and see if you meet the recommended 36% threshold.
2
Do Your Research

Personal loans are serious and long-term financial commitments repaid with interest. For your financial well-being, research your options to make an informed decision.

Look at APR ranges, discounts, repayment terms and fees, which affect loan expenses. Checking the lender's application process and restrictions is also advisable.

MoneyGeek listed the best personal loan lenders in Tallahassee for various categories. But our rankings are based on generalizations. To find the best providers for your needs, compare offers from several lenders.

3
Wait

Even if you believe you have the perfect lender, take some time before moving forward. This step gives you a fresh perspective of the situation, allowing you to make a better decision.

Because of the potential costs of the loan, you should be sure you've chosen the company with the best offer for your profile.

Really consider why you’re getting a loan. Is this absolutely necessary?

For example, if you're borrowing money to fund leisure expenses or purchases, think about putting it off until you've saved the money you need.

Or, if you're consolidating smaller debts, transferring your balance to a 0% APR credit card may be a better alternative.

4
Read the Fine Print

Revisit your preferred lenders’ offers and fine print. Look for information that may have escaped you when you first researched the companies.

Double-check the loan's fees. Most personal loan lenders in Tallahassee don’t charge prepayment fees, but some do. Likewise, verify if your preferred lender charges origination fees.

Take the time to read the fine print to help you avoid unnecessary costs and a poor customer experience. Do this before you finalize your decision.

5
Apply

You can now apply with the company if you’re confident with your decision.

Gather the documents loan providers typically ask for. This may include identification cards, proof of address, Social Security number and paystubs.

Getting a personal loan in Tallahassee could be a quick process. Most lenders have online application processes, so all you need to do is head to their website. But you may still call or visit a bank’s branch if you prefer.

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

Even if you’ve followed the process to the letter, you can still receive a loan rejection letter. If that happens to you, don’t be disheartened. It’s not necessarily the end of your personal loan journey.

Loan companies often deny applications due to insufficient incomes and low credit scores. Nonetheless, we suggest contacting your lender and asking why they declined your application. This is important so you know how to fix any problems before looking for a new loan.

Although you may find a new loan provider, we recommend fixing issues before applying. If you don’t, the first lender’s issue may still pop up and cause another rejection. It doesn't help that a hard check, run by the lender after you officially apply, dings credit scores.

Instead, work toward improving your creditworthiness. For example, you could build your credit history and pay your existing debts. Doing these things will help improve your chances the next time you apply.

Lastly, avoid payday loans. They often do more harm than good with their high interest rates and short repayment terms.

Frequently Asked Questions About Personal Loans in Tallahassee

Tallahassee's best personal loan companies vary depending on your needs and profile. To help you find the right provider for your needs, we responded to some questions about the topic.

What is the best personal loan lender in Tallahassee?
Which lender in Tallahassee has the lowest interest rate?
Can I use a personal loan for vacations in Tallahassee?
Can I use a personal loan for home improvement in Tallahassee?
What can I not use my personal loan for in Tallahassee?
How much can I borrow in Tallahassee?
How long does it take to get a personal loan in Tallahassee?
Can I pay off my loan early in Tallahassee?

Our Personal Loan Methodology

We studied more than 30 personal loan companies using over 35 data points. Data falls into six categories: affordability, consumer friendliness, credit accessibility, customer service, flexibility and lender transparency.

For each, we evaluated important data for folks choosing a personal loan lender. These include APRs, loan amounts, credit requirements, income requirements, disbursement times and fees.

Here at MoneyGeek, we love to help you out. So, we go beyond the basics. We also looked at customer support, business ratings and features. Our team also goes through prequalification processes, payment options and mobile apps.

We make our recommendations with your best interest in mind. That said, you should use our ideas as a starting point. Your research uses your situation, while ours is general. So, do some homework to make sure you find the best Tallahassee personal loan lender for you.

sources
Shield Insurance

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.

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