Top Lenders & Best Picks for You

Best Personal Loans in Wichita, KS

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Reviewed byMorgan Hull
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Reviewed byMorgan Hull
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Updated: December 28, 2023

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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


  • 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 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

    Cons

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

Best Personal Loan Lender for Bad Credit in Wichita: 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 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

    Cons

    • Late fee
    • Origination fee
    • Mobile app not available
    • Co-signers not allowed
    • Potentially high interest rates
    Upstart

Best Personal Loan Lender for Good Credit in Wichita: 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 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

    Cons

    • Debt-to-income (DTI) limit of 43%
    • Co-signers not allowed
    • High minimum credit score requirement
    • High gross minimum income requirement
    • Employment requirements
    SoFi

Best Personal Loan Lender for Debt Consolidation in Wichita: 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

    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

    Cons

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

Best Personal Loan Lender for Home Improvement in Wichita: 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 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

    Cons

    • Origination fee
    • Late fee
    • High minimum credit score requirement
    • High minimum gross income requirement
    • Co-signers not allowed
    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.

1
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:

  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
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.

3
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.

4
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.

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 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.

What is the best personal loan lender in Wichita?
Which lender in Wichita has the lowest interest rate?
Can I use a personal loan for vacations in Wichita?
Can I use a personal loan for home improvement in Wichita?
What can I not use my personal loan for in Wichita?
How much can I borrow in Wichita?
How long does it take to get a personal loan in Wichita?
Can I pay off my loan early in Wichita?

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.

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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.