Top Lenders & Best Picks for You

Best Personal Loans in Kansas City, KS

MoneyGeek's Picks for Best Personal Loan Lenders in Kansas City, KS

MoneyGeek examined the top personal loan lenders in Kansas City for over 35 data points. We compared loan availability and affordability, APR ranges, terms, minimum credit score and income requirements, origination and late fees, disbursement time, customer service, BBB ratings and other features. The data was then used to select the best lender for specific borrower profiles.

According to this research, LightStream is the best overall lender in Kansas. However, depending on your needs, another lender may be a better fit. For example, SoFi is best for borrowers with good credit, while Upstart is best for those with no credit history or a low credit score. Upgrade is also the best lender for debt consolidation, and Best Egg offers the best personal loans for home improvement projects.

Best Overall Personal Loan Lender in Kansas City: Lightstream


  • LightStream

    • 4.49% to 20.49%APR Range
    • 660Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Same DayTime to Receive Funds

    In 2012, LightStream was formed as an online-lending division of Truist Bank. The Better Business Bureau (BBB) awarded the lender an A+ rating for its superior customer service.

    We chose LightStream as the top lender for the best personal loans in Kansas City for several reasons. Its personal loan products feature high loan limits, up to $100,000, and relatively low interest rates ranging from 2.49% to 20.49%. With this lender, there are no hidden costs from prepayment penalties, late fees or origination fees, so you can save money. Furthermore, borrowers can save even more — up to 0.5% on their rate — by setting up automatic payments.

    However, this lender limits the use of funds; the personal loan cannot be used to refinance an existing LightStream loan, fund businesses, buy bonds or stocks or fund illegal activities. To be eligible for a loan, borrowers must also meet the lender’s high minimum credit score requirement of 660.

    Pros

    • High loan limit
    • Autopay discount
    • Same-day funding
    • No origination fee, prepayment penalty or late fee
    • Mobile application available

    Cons

    • High minimum credit score required
    • Hard credit check
    • Restrictions on the usage of funds
    • Inflexible due dates
    • Co-signers not allowed
    LightStream

Best Personal Loan Lender for Bad Credit in Kansas City: 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

    Upstart, founded in 2012 by former Google employees, is a lending platform that uses artificial intelligence (AI) to streamline and improve access to affordable credit. It received an A+ rating from the BBB.

    Anyone can easily apply for a loan online using the lender’s AI technology. However, bankers may contact you for security verification. Because they have no minimum credit score requirement, Upstart makes it easy for those with no credit history to apply for a loan.

    The lender's loan amount ranges from $1,000 to $50,000, with repayment terms ranging from 36 to 60 months. Borrowers can use their Upstart loans for debt consolidation, home improvement projects, moving expenses, medical expenses and personal reasons, like starting a business or getting married.

    Pros

    • Flexible payment due dates
    • No minimum credit score requirement
    • Next-day funding available
    • No restrictions on the usage of funds
    • Online application available

    Cons

    • Co-signers not allowed
    • Mobile application not available
    • Origination fee
    • Late fee
    • Debt-to-income (DTI) limit of 45% or less
    Upstart

Best Personal Loan Lender for Good Credit in Kansas City: 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 began as Social Finance in 2011. It provides a wide range of loans and products to its customers. For many reasons, the BBB gave it an A+ rating, and MoneyGeek ranked it as the best for Kansas City borrowers with good credit. The lender does not charge its customers origination fees, late fees or prepayment penalties.

    Borrowers with a minimum credit score of 680 credit score can borrow up to $100,000. Those that set up automatic payments can save 0.25% on their interest rate. SoFi also performs soft credit checks, which have no effect on your credit score. Its unemployment protection program allows borrowers to pause their monthly payments if they unexpectedly lose their job.

    However, the lender’s strict minimum credit score of 680 and income requirements of $50,000 may make it difficult for certain borrowers to qualify for a loan.

    Pros

    • No origination fee, late fee or prepayment penalty
    • High loan limit
    • Same-day funding available
    • Unemployment protection
    • Mobile application available

    Cons

    • High minimum credit score requirement
    • High minimum gross income requirement
    • High minimum loan amount
    • Co-signers are not allowed
    • DTI limit of 43%
    SoFi

Best Personal Loan for Debt Consolidation in Kansas City: 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 is a relatively new lending platform. Though it was only founded in 2016, it has already received an A+ BBB rating. We chose it as the best debt consolidation lender for personal loans in Kansas City. This lender pays third-party lenders directly, which contributes significantly to the firm's high rating in this category.

    Upgrade offers personal loans ranging from $1,000 to $50,000 with repayment terms between 24 and 84 months. When you set up automatic payments, your premiums are reduced by 1%. Furthermore, borrowers are not penalized for repaying their loans early.

    However, Upgrade limits how your loan can be used. Borrowers are not permitted to use loans for investments, student loans, illegal activities or gambling of any kind. Loans may also have higher interest rates depending on your credit score — interest rates for its personal loan products are between 5.94% and 35.97%.

    Pros

    • No prepayment penalty
    • No minimum income requirement
    • Joint loans available
    • Autopay discount
    • Soft credit check

    Cons

    • Origination fee
    • Late fee
    • Restrictions on the usage of funds
    • Co-signers not allowed
    • Potentially high interest rates
    Upgrade

Best Personal Loan for Home Improvement in Kansas City: 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 an online lending platform that began in 2014 and now operates in 47 states, including Kansas. The lender received an A+ rating for its superior customer service. Based on our evaluation, the lender provides the best personal loans in Kansas City for home improvements.

    The lender performs soft credit checks, so your credit score won’t be negatively impacted. Borrowers can also receive an autopay discount of 0.5% discount if you set up automatic payments. If you repay your loan early, you won’t be penalized.

    However, the lender has a high minimum income and credit score requirement of $50,000 and 700, respectively. Furthermore, Best Egg charges origination and late fees.

    Pros

    • Same-day funding available
    • Widely available
    • Flexible due date
    • No prepayment fees
    • Autopay discount

    Cons

    • Origination fee
    • Late fee
    • High minimum credit score requirement
    • High minimum income requirement
    • Co-signers not allowed
    Best Egg

How to Choose the Best Personal Loan Lender in Kansas City for You

Personal loans are sought after by individuals for a variety of reasons. It could be for home improvement projects, debt consolidation, auto financing, moving costs, medical bills or educational costs. In Kansas, the average personal loan is $18,093. To determine your eligibility, your lender will check your credit score, monthly income and DTI ratio.

We recommend following the steps below to find the best personal loan in Kansas City:

  1. 1
    Ask Yourself the Important Questions

    Before applying for a personal loan, it’s important that you assess your current financial situation. At a minimum, you should ask yourself the following questions:

    1. How much funding do I need?
    2. What is my credit score?
    3. Can I afford the monthly payment?
    4. How much debt do I already have?
  2. 2
    Do Your Research

    Lenders have different terms, fees and rates, so it’s important that you research each lender to find the best fit for you. MoneyGeek’s guide is a great place to start, but our recommendations are for general borrower profiles. You may be able to find a lender that’s best for your situation by doing some research.

  3. 3
    Wait

    Once you’ve selected your chosen lender, it’s important that you wait a few days before submitting your application. Taking out a personal loan is a huge financial commitment — repayment terms can be up to seven years — so it’s crucial that you’ve thought through and are confident with your decision.

  4. 4
    Read the Fine Print

    It’s easy to overlook details when comparing personal loans from various lenders, but it’s important that you read the fine print to save money on potentially hidden fees. Once you’ve selected a lender, you should research their fees, including prepayment penalties, late fees and origination fees. We also encourage you to check the interest rates and collateral requirements that may be in place.

  5. 5
    Apply

    At this point, you should be confident in your lender selection and have all of the information you need to apply. Identity verification, address verification, and proof of income are all standard loan application requirements for lenders. Even if applying online is more convenient, calling or visiting the lender in person may be a better option.

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

If your loan application is rejected, you should contact the lender to find out why it was denied. Sometimes, you can make changes to your loan application, like shortening the loan term or lowering the loan amount, for it to be approved. Other times, you may have been denied due to a low credit score or insufficient income. Before you reapply with the lender or apply with a different lender, you should work on improving your application to increase your chances of approval.

Following a rejection, some people may seek out payday loans. However, MoneyGeek strongly warns against this, as these loans have extremely high-interest rates and short repayment periods. Even if you pay on time and in full, your credit score will not improve.

Frequently Asked Questions About Personal Loans in Kansas City

Your specific needs and financial history will determine the best personal loan lender in Kansas City for you. To help you make the best decision, we've answered some of the most frequently asked questions about personal loans in Kansas City, KS:

What is the best personal loan lender in Kansas City?

Which lender in Kansas City has the lowest interest rate?

Can I use a personal loan for vacations in Kansas City?

Can I use a personal loan for home improvement in Kansas City?

What can I not use my personal loan for in Kansas City?

How much can I borrow in Kansas City?

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

Can I pay off my loan early in Kansas City?

Our Personal Loan Methodology

Over 30 personal loan lenders were evaluated using 35+ individual data points in six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

We considered several individual data points within each ranking criteria category that we believe are most important when choosing a personal loan lender. These factors are APR ranges, available loan amount, minimum credit score, income amount, application fees and disbursement time.

At MoneyGeek, we value you, the consumer, so we consider each lender's customer service, business ratings, and additional features that may make your experience easier and more accessible, such as prequalification, payment options and mobile apps.

After careful consideration and calculation, our decisions are made with your best interests in mind. Our loan recommendations and expert advice help you make the best decision when looking for a lender that meets your needs.

About Christopher Boston


Christopher Boston headshot

Christopher (Croix) Boston was the Head of Loans content at MoneyGeek, with over five years of experience researching higher education, mortgage and personal loans.

Boston has a bachelor's degree from the Seattle Pacific University. They pride themselves in using their skills and experience to create quality content that helps people save and spend efficiently.


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.