The best personal loan in Macon can vary depending on your needs and circumstances. To help you find the best option, MoneyGeek took into account more than 30 data points, such as BBB ratings, loan amounts, repayment lengths, interest rates, fees and minimum requirements. We also evaluated factors that may affect your chances of getting approved, including minimum credit score and gross income requirements.
Top Lenders & Best Picks for You
Best Personal Loans in Macon, GA
Updated: December 28, 2023
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WHAT WE’RE GEEKING OUT ON
- The Best Overall Personal Loan Lender in Macon
- The Best Personal Loan Lender for Bad Credit in Macon
- The Best Personal Loan Lender for Good Credit in Macon
- The Best Personal Loan Lender for Debt Consolidation in Macon
- The Best Personal Loan Lender for Home Improvements in Macon
- How to Choose the Right Personal Loan for You
- Frequently Asked Questions About Personal Loans in Macon
MoneyGeek’s Pick for Best Personal Loan Lender in Macon: Truist
Best Overall Personal Loan Lender in Macon: 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
After analyzing different lenders, MoneyGeek ranked Truist as the best overall option for personal loans in Macon. In 2019, Truist was formed from the historic merger of SunTrust Banks and BB&T Corp.
Truist was ranked as the top choice in the city because it has no origination fee, prepayment penalty or late fee. Furthermore, it doesn’t have any employment or gross income requirements. Once approved, you may receive your money on the same day of your application.
To qualify for a Truist loan, you don't need a minimum credit score. That being said, Truist conducts a hard credit pull, which can negatively affect your credit report. It also has restrictions on fund usage for postsecondary education and business expenses.
Pros
- No origination fee
- No prepayment penalty
- No late fee
- No employment or minimum gross income requirements
- Next day funding
Cons
- Conducts hard credit pulls
- Not available to people with new or no credit
- Maximum loan amount of $50,000
- APR range: 8.14% to 18.99%
- Minimum/maximum loan amount: $3,500 to $50,000
- Minimum credit requirements: None
- Repayment terms: Six–60 months
- Time to receive funds: Next day
Best Personal Loan Lender for Bad Credit in Macon: 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
Having a poor credit score shouldn’t prevent you from getting a personal loan. MoneyGeek found that Upstart offers the best personal loans in Macon for those with bad credit. Upstart was founded in 2012. Since then, it has been serving customers in 48 states, including Georgia.
This lender only requires a minimum credit score of 300. It also does soft credit pulls first, so your credit report won’t be affected by the application process. However, if you’re looking for a larger loan, Upstart may not be the best option for you, as the maximum loan amount is $50,000. Additionally, your debt-to-income ratio should not be higher than 45%.
Pros
- No prepayment penalty
- Low credit score requirement of 300
- Conducts soft credit check inquiry
- No restriction on usage of funds
- Offers joint loans
Cons
- Maximum loan amount of $50,000
- Origination fee up to 8.0%
- Late fee of $15
- APR range: 3.22% to 35.99%
- Minimum/maximum loan amount: $1,000–$50,000
- Minimum credit requirements: 300
- Repayment terms: 36–60 months
- Time to receive funds: Next day
Best Personal Loan Lender for Good Credit in Macon: 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 started in 2011 with the goal of helping people achieve financial independence. It serves 49 states, including Georgia.
This lender was chosen by MoneyGeek for offering the best loans in Macon to individuals with good credit, as it has a minimum credit score requirement of at least 680. SoFi conducts soft credit checks first, so your credit score isn’t affected. Its maximum borrowing limit of $100,000 is also higher than other lenders, making it a good option for borrowers seeking larger loan amounts. Policies do not have origination fees, prepayment penalties or late fees, saving you money.
Although SoFi is an excellent option for those with good credit, you need a minimum income of $50,000 to qualify for a loan. Its fund disbursal time is approximately two days.
Pros
- Auto payment discount of 0.3%
- No origination fee
- No prepayment penalty
- No late fee
- Soft credit check inquiry
Cons
- Gross income requirement of at least $50,000
- Minimum credit score of 680
- APR range: 5.74% to 20.28%
- Minimum/maximum loan amount: $5,000–$100,000
- Minimum credit requirements: 680
- Repayment terms: 12–60 months
- Time to receive funds: Two days
Best Personal Loan Lender for Debt Consolidation in Macon: 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
Upgrade was started in 2017. It offers various financial products including secured and unsecured personal loans, credit cards, auto loans and reward checking accounts to customers across all 50 states.
You need a minimum credit score of 560 to qualify for an Upgrade loan. Once approved, you can get your funds on the same day. However, you can only borrow up to $50,000 from this lender.
Upgrade won’t allow you to use your personal loan for several purposes, including post-secondary education, investments, illegal activities and gambling. That said, it’s an excellent option if you’re looking for a personal loan in Macon for debt consolidation.
Pros
- Auto payment discount of 1%
- No prepayment penalty
- Fair credit score requirement of 560
- Conducts soft credit check inquiry
Cons
- High origination fee up to 8%
- Late fee of $10
- Low maximum loan amount of $50,000
- APR range: 5.94% to 35.47%
- Minimum/maximum loan amount: $1,000–$50,000
- Minimum credit requirements: 560
- Repayment terms: 36–60 months
- Time to receive funds: Same day
Best Personal Loan Lender for Home Improvement in Macon: 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
Since it was established in 2014, Best Egg has helped customers in 47 states achieve their financial goals.
Based on MoneyGeek’s research, this lender offers the best personal loans in Macon for individuals looking to fund their home renovations. Best Egg offers interest rates as low as 4.99%, and borrowers receive a 0.5% discount for automatic repayments. Once approved, you can receive your money the next day without any restrictions on its usage.
Keep in mind, however, that Best Egg may not be the best option for every borrower. Aside from charging origination and late fees, this lender has a minimum gross income requirement of $50,000 and credit score requirement of 700.
Pros
- Auto payment discount of 0.5%
- No prepayment penalty
- No debt-to-income limits
- Soft credit check inquiries
Cons
- Minimum credit score of 700
- Origination fee of 1%–6%
- Late fee of $15
- APR range: 4.99% to 35.99%
- Minimum/maximum loan amount: $2,000–$50,000
- Minimum credit requirements: 700
- Repayment terms: 36–60 months
- Time to receive funds: Next day
How to Choose the Best Personal Loan Lender In Macon for You
In Georgia, the average personal loan debt is $17,869. Many residents take out personal loans to use for debt consolidation, home renovations, medical bills and emergency expenses.
If you’re looking for a personal loan in Macon, it’s important to analyze your particular needs and situation first so you can narrow down your options and determine the best one for you. MoneyGeek strongly recommends following these steps when choosing a personal loan provider.
1
Ask Yourself the Important Questions
It’s vital to assess your unique circumstances before pursuing a personal loan application. You can start by figuring out how much money you need. You also need to determine if you can afford the monthly payments, factoring in existing debts. Otherwise, you may find yourself in a tight financial situation and risk ruining your credit score.
Ask yourself these questions before proceeding:
- How much funding do I need?
- What is my credit score?
- Can I afford the monthly payment?
- How much debt do I already have?
2
Do Your Research
When looking for a personal loan, you can’t just rely on recommendations. It’s important that you conduct your own research, as well. This way, you can better understand your options and learn all the necessary information about your prospective lenders.
Some lenders conduct hard credit pulls, which negatively affects your credit score. Meanwhile, other loan providers impose restrictions on the usage of funds. By doing your own research, you can also compare rates and loan terms from different lenders to see which one offers the best option for your needs.
MoneyGeek’s guide recommends the best lenders for a few different borrower profiles, but a different lender may be best for you based on your unique financial needs. It’s best to explore all your options to find the right lender for you.
3
Wait
Once you’ve researched your prospective lenders, you should take some time to think it over. Sometimes, it’s tempting to submit a loan application after gathering some information, but there’s no need to be hasty. Reflect on your decision for a day or two before proceeding with the next step. This can help you make a better financial decision without confirmation or recency bias affecting your judgment.
4
Read the Fine Print
To ensure you don’t overlook any small detail in your research, you should read through a personal loan’s fine print. This can help you prepare for any upfront or hidden costs, including origination, prepayment penalty and late fees. While these may seem like little costs, understanding them can help you save money in the long run.
5
Apply
Once you feel good about your chosen lender, you can finally send in your loan application. At this point, you should prepare all the documents and information your loan provider might require. These include personal identification, income details and address verification.
Note that there are different ways to submit your application. Some lenders allow you to conveniently apply online. You can also apply over the phone or in person if your lender offers the option.
What to Do if You Can’t Get a Personal Loan in Macon
It’s possible to get denied when you apply for a personal loan. Sometimes, it happens due to low credit scores, insufficient income or high debt-to-income ratios. If your loan application gets rejected, it’s best to find out what factors affected your lender’s decision.
Get in touch with your lender and inquire about the reason your loan application was declined. You can also ask if there’s a way to modify your application to make it acceptable to your lender. For instance, shortening your loan terms or lowering your loan amount may make your application acceptable.
If your lender’s decision is final, you can always apply for a personal loan at a different company. That said, MoneyGeek advises against applying for a loan again until you have improved the factors that caused your loan application to be rejected in the first place.
If you’re looking for a borrowing alternative, be wary of payday loans. While this type of loan can help you get quick access to funds, it usually has a shorter payback period and higher interest rate.
Frequently Asked Questions About Personal Loans in Macon
Your personal needs, credit score and income will determine the best personal loan lender for you. To help you narrow down your options, MoneyGeek answered some frequently asked questions about personal loans in Macon.
What is the best personal loan lender in Macon?
Based on MoneyGeek’s analysis, Truist is the best overall lender for personal loans in Macon. That said, a different lender may be the best option for you based on your specific needs. For instance, Upgrade is the top choice for debt consolidation, while Best Egg is ideal for home improvements.
Which lender in Macon has the lowest interest rate?
Upstart offers the lowest interest rates in Macon. It can be as low as 3.22%, depending on your loan and borrower profile.
Can I use a personal loan for vacations in Macon?
You can use a personal loan to fund your vacation or travel. Just make sure that your lender doesn’t impose any restrictions on the usage of funds prior to applying for a loan.
Can I use a personal loan for home improvement in Macon?
Financing home improvements is one of the most common reasons for taking out a personal loan. In Georgia, Best Egg is the best lender for this purpose.
What can I not use my personal loan for in Macon?
This will depend on your chosen lender. Some loan providers impose restrictions on the usage of their funds. These include post-secondary education expenses, businesses, investments, gambling and other illegal activities.
How much can I borrow in Macon?
The maximum amount of money you can borrow will be determined by your lender. Some will let you borrow up to $100,000, while others have a maximum loan amount of $50,000.
How long does it take to get a personal loan in Macon?
How fast you get your money will depend on your lender. Some lenders offer same-day funding, while others can take as long as a week.
Can I pay off my loan early in Macon?
Yes, you can pay off your personal loan early. Just make sure that your lender doesn’t charge a prepayment penalty so you can avoid paying additional costs.
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.
sources
- Truist. "About Truist." Accessed March 14, 2022.
- Upstart. "This is Upstart." Accessed March 14, 2022.
- SoFi. "Personal Loans." Accessed March 14, 2022.
- Upgrade. "About Us." Accessed March 14, 2022.
- Best Egg. "About Best Egg." Accessed March 14, 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.