Best Personal Loans in Naperville, IL: Top Lenders & Best Picks for You

LightStream is the best personal loan lender in Naperville, and its A+ BBB rating only cements its position. The lender operates online and is a division of Truist Financial Corporation.

Qualified customers have access to loans ranging from $5,000 to $100,000 with same-day funding and no origination fees. Long repayment periods of up to 84 months are available from the lender, which suits those looking for smaller monthly payments. If you decide to pay off your loan earlier than the term, you can do so without paying a fee.

However, LightStream loans are only available to those with a good credit score of at least 660. Also note that the lender forbids using the funds for activities like repaying an existing LightStream loan, financing a business, postsecondary education expenses or for the purchase of bonds and stocks.

Pros

• No origination fee or prepayment penalty
• Maximum loan of $100,000
• Autopay discount
• Quick funding
• Many options for repayment terms

If you don't yet have a financial foundation or have a bad credit score, getting a personal loan may be tricky. Upstart is an online bank that connects first-time and low-credit-score borrowers with lenders using artificial intelligence.

MoneyGeek found that because the company lends to customers with credit scores as low as 300, it's great for those with little credit history. All loans range from $1,000 to $50,000 and carry a one-time origination charge.

Note that borrowers with bad credit may see their score drop due to the company's rigorous credit checks. Although the company accepts full-time, part-time and self-employed individuals, unstable income may disqualify applicants for an Upstart loan.

Pros

• Low minimum APR
• Minimum credit score of 300
• Soft credit inquiry to check eligibility
• Accepts part-time, full-time and self-employed individuals
• No prepayment penalty

For people with good credit, SoFi is the best option in Naperville. You need to have a credit score of at least 680 to get a SoFi personal loan of up to $100,000. Borrowers choosing automatic payments receive a discount on their interest rates.

SoFi provides unemployment protection, which allows borrowers to delay or reduce their monthly loan payments if they lose their jobs unexpectedly.

However, note that the lender runs a hard credit inquiry, which can temporarily lower your credit score. Also, those who need smaller loans than $5,000 may not find this lender a good fit. People who are uncertain about their loan application's prospects might raise those possibilities by submitting it with a co-applicant.

Pros

• Loans of up to $100,000
• No origination fee or prepayment penalty
• Autopay discount of 0.25%
• Offers unemployment protection
• Broad range of repayment terms

Upgrade is a fintech startup that provides its consumers with free access to tools for evaluating their credit health to encourage responsible financial conduct. It has an A+ BBB rating, and according to MoneyGeek, the company is the best option for borrowers needing a loan for debt consolidation in Naperville, Illinois. That’s partly due to Upgrade’s offer to pay third-party creditors directly.

Upgrade has a reasonable minimum APR for well-qualified borrowers. However, you can expect the APR on an Upgrade personal loan to go high if your credit score is low.

Every Upgrade loan also includes an origination charge of between 1.85% and 8.99%. However, prepayment penalties do not apply to loans paid off ahead of schedule. That said, there are limitations on how Upgrade loans may be used, so make sure you read the fine print.

Pros

• Reasonable baseline APR
• No prepayment penalty
• Has a mobile app
• Flexible repayment terms

Through its collaboration with the Cross River Bank financial technology company, Best Egg has funded more than 1 million personal loans since 2014. It is managed by the online lender Marlette Funding and enjoys an A+ rating with the BBB.

Best Egg home improvement loans can range from $2,000 to $50,000. The creditworthiness of the borrower determines the loan's APR.

However, you will be eligible for a Best Egg loan only if you meet the minimum requirements, which include a very good credit score of 700 or above. Online loan applications are accepted, and approval and funding can occur as soon as the next business day. Furthermore, this loan does not include a prepayment penalty. Keep in mind, though, that Best Egg loans might carry an origination cost of up to 8.99%.

Pros

• Soft credit check for eligibility
• No prepayment penalty
• A+ BBB rating