Top Lenders & Best Picks for You
Best Personal Loans in Wichita, KS
Updated: December 28, 2023
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- The Best Overall Personal Loan Lender in Wichita
- The Best Personal Loan Lender for Bad Credit in Wichita
- The Best Personal Loan Lender for Good Credit in Wichita
- The Best Personal Loan Lender for Debt Consolidation in Wichita
- The Best Personal Loan Lender for Home Improvements in Wichita
- How to Choose the Right Personal Loan for You
- Frequently Asked Questions About Personal Loans in Wichita
MoneyGeek's Picks for Best Personal Loan Lenders in Wichita, KS
MoneyGeek examined the best personal loans in Wichita, KS, using over 30 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, Better Business Bureau (BBB) ratings and other features. We also found the best lenders for specific borrower profiles.
For instance, LightStream offers the best personal loans in Wichita, according to our research. However, another lender may be a better fit depending on your needs. 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 best for debt consolidation, and Best Egg is best for home improvement projects.
Best Overall Personal Loan Lender in Wichita: Lightstream
Best Personal Loan Lender for Bad Credit in Wichita: Upstart
Best Personal Loan Lender for Good Credit in Wichita: SoFi
Best Personal Loan Lender for Debt Consolidation in Wichita: Upgrade
Best Personal Loan Lender for Home Improvement in Wichita: Best Egg
How to Choose the Best Personal Loan Lender in Wichita for You
Different people look for personal loans for a variety of reasons. Some want to fund home improvement projects, while others want to consolidate debt. To assess your eligibility, you should check your credit score, monthly income and DTI limit when choosing a lender. In Kansas, the average personal loan is $18,093.
Ask Yourself the Important Questions
Before applying for a loan, you should evaluate your financial situation and capacity to repay the loan. Thinking through this information before starting the research process will make it easier to find lenders that meet your needs. At a minimum, you should ask yourself the following questions:
- How much funding do I need?
- What is my credit score?
- Can I afford the monthly payment?
- How much debt do I already have?
Do Your Research
Before submitting a loan application, you should compare different lenders’ rates, terms and requirements to find the one that’s best for your needs. MoneyGeek’s guide is a great place to start, but these are recommendations for generic borrower profiles. To find a lender that meets your specific needs, you should conduct your own research.
Wait
After you’ve researched different lenders, it’s important to wait a few days before submitting your application. Consider that taking a personal loan is a big financial commitment, and you must be confident that it's the best decision before starting the process.
Read the Fine Print
It’s important to thoroughly review the terms of your loan agreement before officially applying for a loan. There may be hidden fees like prepayment penalties, late fees and origination fees that aren’t clearly indicated. In the long term, taking the time to review the details can save you a lot of money.
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 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 Wichita
If your loan application is initially rejected, you should contact the lender to find out why it was denied. It’s first best to determine why your application was rejected. You may be able to shorten or lower the loan amount, apply with a co-signer or opt for a collateral-based loan to get approved. If your loan was denied due to a low credit score or insufficient income, you should improve these factors first before reapplying for a loan.
Following a rejection, some people may seek out payday loans with extremely high-interest rates. However, we strongly recommend against doing this, as your credit score will not improve. Late payments may also result in a collection agency contacting you, which will impact your credit.
Frequently Asked Questions About Personal Loans in Wichita
Your specific needs and various credit and income considerations will determine the best personal loan lender in Sacramento for you. We've answered some of the most frequently asked questions about personal loans in Wichita, KS.
The best overall personal lender in Wichita is Lightstream. But, for those with good credit, the best lender is SoFi, and for those with bad credit, the best is Upstart. Upgrade and Best Egg are the best personal loan options for debt consolidation and home improvements.
LightStream offers personal loans in Kansas City with interest rates ranging from 2.49% to 20.49%. If you aren’t eligible for a LightStream loan, Upstart offers the lowest interest rates.
Personal loans can be used for various purposes, including vacation costs. However, not all lenders permit using their loans for any purpose. It’s best to check with your lender to see if there are any restrictions on how you can use your loan.
Most personal loans can be used for home improvements. When in doubt, it’s important to check with your lender to see if there are any restrictions.
Personal loans can be used for virtually any purpose. However, some lenders may impose restrictions on how you use the loan. Some lenders forbid their loans from being used to refinance mortgages or other loans, fund educational expenses or business capital, purchase bonds or stocks or pay for gambling.
The maximum amount you can borrow varies for every lender. Depending on the lender, you may qualify for a loan ranging from $1,000 to $100,000.
Each lender has a different timetable for funding your loan. Some lenders have same-day funding, while others take up to a week.
Lenders may charge you a prepayment fee if you pay off a personal loan before the end of its term. Some lenders do not charge you a fee if you repay your loan early. It's best to consult with your lender or read the fine print in your loan agreement.
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 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 in your best interests. Our loan recommendations and expert advice help you make the best decision when looking for a lender that meets your needs.
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.