Best Personal Loans in Lexington, KY: Top Lenders & Best Picks for You
Updated: December 28, 2023
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- The Best Overall Personal Loan Lender in Lexington
- The Best Personal Loan Lender for Bad Credit in Lexington
- The Best Personal Loan Lender for Good Credit in Lexington
- The Best Personal Loan Lender for Debt Consolidation in Lexington
- The Best Personal Loan Lender for Home Improvements in Lexington
- How to Choose the Right Personal Loan for You
- Frequently Asked Questions About Personal Loans in Lexington
MoneyGeek's Picks for Best Personal Loan Lenders in Lexington, KY
MoneyGeek analyzed the APR ranges, loan amount, credit score requirements, fund disbursement time, repayment terms and various important factors of different lenders to help you find the one offering the best personal loans in Lexington.
Based on our analysis, Truist is overall the best personal loan lender in the city. We found SoFi and Upstart to be ideal options for borrowers with good and bad credit histories, respectively. If you want a loan for debt consolidation or home improvement, Upgrade and Best Egg are the most suitable options, in that order.
Best Overall Personal Loan Lender in Lexington: Truist
Best Personal Loan Lender for Bad Credit in Lexington: Upstart
Best Personal Loan Lender for Good Credit in Lexington: SoFi
Best Personal Loan Lender for Debt Consolidation in Lexington: Upgrade
Best Personal Loan Lender for Home Improvement in Lexington: Best Egg
What to Do if You Can’t Get a Personal Loan in Lexington
Lenders reject personal loan applications for various reasons, including low credit score, high debt-to-income ratio, unstable employment, incomplete application and more. If the lender denies your loan application, ask why. You may be able to lower your loan amount or payment terms.
You can also apply with a different lender, but first, improve any issue that caused the original rejection. For instance, if the lender rejected your loan application due to a low credit score, you can get a credit-building credit card to improve your credit history. If the rejection was due to low income, you could apply again with lenders that accept low-income individuals.
MoneyGeek also recommends against getting a payday loan, as these loans have high interest rates and can cause you to accumulate more debt.
Frequently Asked Questions About Personal Loans in Lexington
The best personal loan lender in Lexington will depend on your financial situation and other factors. MoneyGeek answered the following frequently asked questions to help you choose the ideal lender based on your needs.
Our Personal Loan Methodology
MoneyGeek analyzed the personal loan products of more than 30 lenders using 35+ individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.
Within each ranking criteria category, we considered several individual data points that we feel carry the most weight when choosing a personal loan lender. These factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.
Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible, like prequalification, payment options and mobile apps.
After careful consideration and calculation, we make our picks with your best interests in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing a lender that meets your needs.
sources
- Best Egg. "Personal Loans." Accessed September 9, 2022.
- SoFi. "Personal Loans." Accessed September 9, 2022.
- Truist. "Personal Loans." Accessed September 9, 2022.
- Upstart. "Personal Loans." Accessed September 9, 2022.
- Upgrade. "Personal Loans." Accessed September 9, 2022.
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
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