Best Low-Income Loan Lenders in Connecticut

MoneyGeek evaluated 30 personal loan lenders for more than 35 key data points to determine the best low-income loan providers in the state. These key data points included, but weren’t limited to, ratings from the Better Business Bureau (BBB), APR ranges, loan amounts, repayment terms, minimum income requirements, debt-to-income (DTI) ratios and more.

According to our research, Upgrade offers the best low-income loans in Connecticut, followed by LendingClub. Upstart is an ideal option for borrowers with bad credit, while Prosper is our top choice for those with good credit.

Best Overall Low-Income Loan in Connecticut: 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


    on Upgrade Website

Runner-Up for Best Low-Income Loan in Connecticut: LendingClub

  • LendingClub

    • 7.04% to 35.89%APR Range
    • 600Minimum Credit Score
    • $1,000 to $40,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds


    on LendingClub Website

Best Low-Income Loan for Bad Credit in Connecticut: 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


    on Upstart Website

Best Low-Income Loan for Good Credit in Connecticut: Prosper

  • Prosper

    • 7.95% to 35.99%APR Range
    • 640Minimum Credit Score
    • $2,000 to $40,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds


How to Choose the Best Low-Income Loan in Connecticut for You

In Connecticut, where the average personal loan debt is $14,038 and the average credit card debt is $6,237, it appears relatively common to take out a loan. However, just because it's common practice doesn’t mean that it’s the best decision for you. MoneyGeek suggests taking the following steps to ensure you find the best solution to your funding needs, which may include finding an ideal low-income loan provider in Connecticut.


Ask Yourself the Important Questions

The following questions can help you determine if a personal loan is the best option for you as well as prepare you for applying for a personal loan.

  • How much funding do you need? It’s important to be as precise as possible in estimating your funding needs because this will help you avoid over or underborrowing money. Every cent of your loan will accrue interest, so only taking out what you need will save you money in the long run.
  • What’s your credit score? Your credit score will not only impact your eligibility with lenders, but it will also determine the interest rate you receive on your loan. If you have a low credit score and don’t require funding immediately, consider improving your score first before applying for a low-income loan.
  • Can you afford the monthly payments? It’s important to make sure that the monthly payment you select fits in your budget. Making a higher monthly payment will allow you to repay your loan sooner, reducing the overall amount you will pay in interest. However, it’s important to make sure your monthly loan payment doesn’t impair your ability to pay other expenses.
  • Do you have existing debts? This is an extremely important question. Consider whether or not you really need to take out another loan, as doing so comes with a significant amount of additional obligations. You may want to repay your current loans first to receive a lower interest rate on your low-income loan.
  • Is your debt manageable through other means? If you have alternative choices for managing your debts, you should explore them before applying for another loan. Other options include utilizing a credit card or asking to borrow money from relatives or friends.

Do Your Research

Although MoneyGeek has provided a list of low-income lenders in Connecticut, it is still essential to conduct your own research. Browse lenders’ websites, read online reviews and even consult with friends and family about their experience with different lenders. We recommend comparing lenders for their APRs, loan amounts, eligibility requirements, repayment terms and disbursement times to find the best option for your situation.



After you’ve thoroughly researched lenders and have chosen the best one for you, it’s important to wait a few days before you apply. During this time, you can consider alternative funding options or contact the lender for more information about its personal loan products. A personal loan is a significant investment of your time and money, so it’s essential that you’re confident in your choice of lender.


Read the Fine Print

Before you apply for a loan, it’s important that you read the fine print of your loan agreement. The fine print includes details on potential fees for late payments, loan origination or early repayment. While seemingly insignificant, these hidden costs can add up over the life of your loan. If you have any questions about the terms of your loan, you should contact your lender for clarification.



Once you have completed all the steps included above, you can apply with your chosen lender. Prior to starting your application, we suggest gathering all required documentation in advance. This generally includes proof of identification, address and employment, but you may be required to provide additional documents depending on your chosen lender.

What to Do if You Can’t Get a Low-Income Loan in Connecticut

If your application for a low-income loan in Connecticut is denied, there are still steps you can take to obtain a loan. Loan applications are commonly rejected due to insufficient credit scores, incomplete application submittals and high DTI ratios.

After your application is rejected, you should contact the lender directly to find out why it was denied. Sometimes, simply modifying the terms of your loan application, like decreasing the loan amount or increasing the repayment term, can lead to its approval. However, there is no immediate solution if your credit score or DTI ratio was the problem. If you don't absolutely need a loan now, we recommend improving these issues first before reapplying or applying with a different lender.

Some borrowers may be tempted to apply for a payday loan. MoneyGeek strongly advises against these loans, as they feature high interest rates and short repayment terms. If you are in urgent need of funds, you can apply for a low-income loan with a different lender or check low-interest loans.

Calculate Your Monthly Payment

When your loan application is approved, you agree to make monthly payments that include interest. While these payments can be troublesome if poorly managed, MoneyGeek's personal loan calculator allows you to estimate your monthly payments ahead of time so you can plan accordingly.



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+ $8.33

Origination Fee Percentage


Origination Fee Fixed amount


Total monthly payment


FAQs About Low-Income Loans in Connecticut

Low-income loans in Connecticut can provide reliable funding. However, before filling out a loan application, we recommend that you familiarize yourself with your chosen lender's specific requirements and loan terms. The following are the most frequently asked questions about low-income loans in the state.


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MoneyGeek analyzed more than 30 personal loan lenders for over 35 unique data points across six key categories — availability, customer friendliness, flexibility, customer support, lender transparency and affordability.

When rating personal loan providers, we placed more emphasis on the factors that matter most to the consumer, like application costs, APR ranges, repayment terms, loan amounts and eligibility requirements.

Because you, the consumer, are MoneyGeek's top priority, we also took into account factors that provide a well-rounded experience, like a lenders’ business and customer service ratings, mobile applications, online applications, payment options and prequalification availability.

We prioritized the best interests of customers while selecting our top recommendations. Our personal loan recommendations and expert advice are designed to help you find the ideal lender for 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.