Best Low-Income Loans in Kansas: Top Lenders and Rates for 2024

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Edited bySarah Mattie
Edited bySarah Mattie

Updated: December 28, 2023

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Best Low-Income Loan Lenders in Kansas

We determined the top low-income personal loan lenders in Kansas with over 30 data points. Besides interest rates and repayment terms, we looked at income needs, credit scores, BBB ratings, loan amounts and more.

The average personal loan debt of Kansas consumers is $18,093. Lenders typically need applicants to earn at least a certain amount, but low-income loans are available.

Best Overall Low-Income Loan in Kansas: Upgrade

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

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Best Low-Income Loan for Bad Credit in Kansas: Upstart

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

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

As per MoneyGeek data, Kansas personal loans average $18,093, have a credit score of 726 and have an interest rate of 9.92%. You may be eligible for a loan based on your employment status, income and credit score.

For low-income borrowers, comparing terms between lenders is essential. MoneyGeek recommends following these steps when applying for low-income loans in Kansas:

1
Ask Yourself the Important Questions

Consider how this decision could affect your finances. To find the best lender for you, you should answer the following questions:

  • How much funding do you need? You should know how much you need to avoid going overboard with your loan.
  • What’s your credit score? Low-income loans in Kansas require good credit standing. You may get a lower APR if you have a better credit score.
  • Can you afford the monthly payments? If you miss a payment, your credit score may be adversely affected.
  • Do you have existing debts? Consider your financial situation before taking out another loan.
  • Is your debt manageable through other means? Consider using a 0% APR credit card or borrowing from family to avoid additional debt if possible.
2
Do Your Research

Identify your best lender based on features like interest rate, terms and loan amount. You can consider our recommendations but should also conduct research to find other options.

3
Wait

A lot of commitment is involved in getting a loan. Consider your top picks along with your financial objectives for a few days. Decide which is the best option, or don't decide at all during this crucial time.

4
Read the Fine Print

Rates and fees for personal loans vary from one product to another. Take your time reading through all the contract details. If you need clarification after reading, contact your lender.

5
Apply

When you find your perfect lender, it's time to begin the application process. Gather your financial and personal information and provide the documents to the lender. Be sure to cross all t's and dot all i's, as incomplete information could result in rejection.

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

Personal loan applications can be rejected. This usually happens because of incomplete applications, low credit or income issues. Lenders determine whether you qualify based on their eligibility requirements.

We recommend contacting your lender for feedback about your application. Your details may need to be revised, or they might be willing to discuss alternatives.

If bad credit led to your downfall, work on improving it before applying again.

In contrast to personal loans, payday loans are fast and easy to get. They have astronomically high interest rates and short repayment terms, putting many users into debt. It's generally best to avoid this type of loan.

Calculate Your Monthly Payment

Monthly payments with interest generally begin as soon as you receive your funds. Calculate your repayment amounts to determine if you can afford the installments.

With MoneyGeek's low-income loan calculator, you can determine your monthly payment.

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FAQs About Low-Income Loans in Kansas

Lenders consider several factors whenever you apply for a low-income loan in Kansas. However, you also pick your lender. Remember: Your financial needs are still the most important factor.

You can use MoneyGeek's frequently asked questions about low-income loans in Kansas to help you decide what's right for you.

What is the best low-income loan lender in Kansas?
Which lender in Kansas has the lowest interest rates for low-income?
What kind of debts can I not use my low-income loan for in Kansas?
How much debt can I consolidate in Kansas?
How long does it take to get a low-income loan in Kansas?
Can I pay off my loan early in Kansas?

Methodology

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METHODOLOGY

MoneyGeek evaluated more than 30 personal loan lenders on six key criteria. Many factors were considered, like cost, user-friendliness, customer service, flexibility and lender transparency. At least 35 individual data points comprised each category.

We particularly looked at six hard-hitting data points. These include APR, loan amounts, credit scores, income requirements, fees and funding periods.

At MoneyGeek, we also strive to provide consumers with the best value for their money. We consider customer service, business ratings and other features focusing on positive experiences.

After careful consideration and calculation, we choose our top lenders. These low-income loan recommendations and tips are here to help you find the best lender for you.

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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.