Best Personal Loans in Wichita, KS

In 2012, LightStream was formed as an online lending division of Truist Bank. The BBB gave this lender an A+ rating for its quality customer service. We chose LightStream as the best personal loan lender in Wichita for numerous reasons.

The lender offers a variety of loans ranging from $5,000 to $100,000. Customers aren’t charged if they pay their loans earlier than the due date. Since it has a mobile app, customers can easily manage their accounts which is available on Android and iOS devices. LightStream also offers a discount for those who schedule auto payments.

Yet, they have limitations on the usage of loan proceeds. LightStream personal loans may not be used to refinance an existing loan with the lender, buy bonds or stocks, fund illegal activities or start a business.

Pros

• No origination fee, late fee or prepayment penalty
• Offers joint loans
• Autopay discount
• High loan limit
• Mobile application available

Upstart was founded by former Google employees in 2012. It is a lending platform that uses artificial intelligence to improve the overall experience of its customers and let them access affordable credit. The BBB gave it an A+ rating.

Anyone can apply for a loan online using its robust AI technology. But for security purposes, their bankers may reach out to you for identity verification. Since they accept online applications, Upstart makes it easy for people to apply for personal loans.

With Upstart, you can borrow as low as $1,000 up to a maximum of $50,000, with repayment terms ranging from 36 to 60 months. Borrowers can use their Upstart loans for home improvement projects, debt consolidation, medical expenditure and personal celebrations like weddings.

Pros

• Online application available
• Joint loans
• Flexible payment dates
• No minimum credit score requirement
• Next-day funding available

SoFi started as Social Finance in 2011. It provides a broad range of loans and products to its customers. It received an A+ rating from the BBB, and MoneyGeek ranked it as the best lender in Wichita for borrowers with good credit.

It doesn’t charge its customers with origination or late fees. Moreover, they don’t charge customers who repay their loans early. Borrowers with a credit score of at least 680 can borrow up to $100,000 and will receive funding in one to two days. When they set up automatic payments, borrowers save up to 0.3% on personal loan interest rates. SoFi performs soft credit checks which don’t affect your credit score.

Those who recently lost their jobs can use SoFi’s unemployment protection program and put their loans on hold and lower their monthly loan repayments.

However, if you need a co-signer for a loan, make less than $50,000 per year or don’t have a credit score of at least 680, SoFi may not be the right lender for you.

Pros

• No origination fee, late fee or prepayment penalty
• High loan amounts
• Funding available in one to two days
• Offers unemployment protection
• Mobile application available

Since Upgrade was founded in 2016, it has received a high A+ rating from the BBB for its superior customer service. The provider pays third-party lenders directly when you consolidate your debt.

When you set up automatic payments, your premiums are reduced by 1%. Moreover, borrowers aren’t charged a prepayment penalty fee for repaying their loans early. However, they do impose some limitations on the usage of funds; borrowers cannot use funds for investments, student loans, gambling or illegal activities. Loans may also have higher interest rates, depending on your credit score.

Pros

• No prepayment penalty
• No minimum gross income requirement
• Joint loans available
• Autopay discount
• Low minimum credit score requirement

Best Egg is an online lending platform that started in 2014 that operates in 47 states across the U.S. Based on our research, it’s the best fit for Wichita residents who are looking to fund their home improvement projects.

Best Egg performs soft credit checks that do not affect your credit score. Borrowers receive a discount of 0.5% when they set up automatic payments. Plus, this lender doesn’t charge prepayment penalty fees when you repay your loan early.

However, Best Egg requires a minimum income of $50,000 and minimum credit score of 700, so it may be difficult for some to qualify for its loan offerings. Furthermore the lender charges an origination fee of up to 6% of your loan.

Pros

• Autopay discount
• Flexible due date
• No prepayment penalties
• Same-day funding available
• Soft credit inquiry