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

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Edited byMorgan Hull
Edited byMorgan Hull

Updated: December 28, 2023

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Best Low-Income Loan Lenders in Oregon

MoneyGeek reviewed over 30 personal loan lenders for more than 35 key data points. Data points like annual percentage rates (APRs), loan amounts, eligibility requirements, application fees and disbursement times have the most impact on a borrower’s choice of lender.

We ranked Upgrade as the best low-income loan lender in Oregon, with LendingClub taking the runner-up spot. Borrowers with poor credit may get the best low-income loan from Upstart, while those with good credit should consider Prosper for their lending needs.

Best Overall Low-Income Loan in Oregon: Upgrade


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


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


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


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

In Oregon, the average debt on personal loans is $17,066 with an interest rate of 9.84%. Though it appears relatively common to take out a personal loan in the state, it may not be the best financial decision for you. Below are a few steps you should take to make a well-informed decision about applying for a low-income loan in Oregon.

Ask Yourself the Important Questions

To save time, money and undue stress, ask yourself the following questions before researching different lenders.

  • How much funding do you need? Knowing the amount that you need can give you an idea of how much your monthly payments will cost, as well as the potential lenders available to you.
  • What’s your credit score? Your credit score impacts your eligibility with lenders, as well as the loan terms (APRs, loan amounts, repayment terms, etc.) available to you. If your credit score is low, consider improving it before applying for a loan.
  • Can you afford the monthly payments? Missing payments can cost you money, as some lenders charge late fees. Calculate a payment amount that fits within your current budget.
  • Do you have existing debts? Consider repaying your existing debt first before taking on more debt.
  • Is your debt manageable through other means? Explore alternative funding options, like borrowing from friends and family or 0% APR credit cards.
Do Your Research

Because a loan is a long-term commitment that takes between two and four years to repay, it’s important to thoroughly vet lenders. MoneyGeek recommends comparing lenders for their APRs, repayment terms, eligibility requirements, loan amounts and fees to find the best option for your needs. Our recommendations can help you get started, but only you know your specific financial goals.


After researching lenders, it’s important to wait a day or two before choosing your preferred lender. Take a step back from the situation and consider your options. You can use this time to research other lenders or search for alternative funding options. Because a loan takes years to repay, it’s important that you don’t rush into a decision.

Read the Fine Print

The fine print of a loan agreement outlines fees, like those for prepayment, late payments and loan origination. It’s important to be aware of these ahead of time to avoid unexpected costs. If you have any questions about the fine print of your loan agreement, you can contact your lender for clarification.


If you’re absolutely sure about your decision, you can start the application process. Lenders can have a fully online application process through their official website and mobile app. Some lenders may also allow over-the-phone or in-person applications. As part of the process, you may need to submit documents for identification, address verification, proof of income and employment.

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

Lenders commonly reject loan applications due to credit score issues, high DTI ratios and application form errors. If your application for a low-income loan in Oregon is rejected, you should do a few things.

First, contact your lender and ask them why your application was denied. Sometimes, modifying the terms of your loan can lead to your application's approval. You can choose a longer repayment period or reduce your loan amount to lower the cost of your monthly payments. This way, your installments can fit your income and budget better.

If your application was rejected due to a low credit score or high DTI ratio, you should improve these factors first before submitting another application. You may consider applying with a different lender, but be aware that your credit score may dip; every loan application is subject to a hard credit check that lowers your credit score.

We strongly caution against payday loans. These feature short repayment terms and high interest rates that can cost borrowers more money in the long term. Additionally, repaying your loan on time won’t improve your credit score.

Calculate Your Monthly Payment

When you take out a personal loan, you commit to making monthly payments, including interest. Knowing your approximate monthly payment ahead of time can help you budget accordingly. Use MoneyGeek’s personal loan calculator to estimate your monthly payment amount.


FAQs About Low-Income Loans in Oregon

To help you find the best lender for your needs and financial circumstances, MoneyGeek answered the most frequently asked questions about low-income loans in Oregon.

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


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MoneyGeek reviewed over 30 personal loan lenders for more than 35 data points across six categories. These categories include lender transparency, consumer friendliness, affordability and accessibility.

Within each category, we emphasized key data points that we felt had the greatest impact on a borrower’s choice of lender, like APRs, loan amounts, credit score requirements, income requirements, application costs and fund disbursement times.

Because MoneyGeek values you, the consumer, we also took into account factors that impact the overall consumer experience, like lenders’ customer service and business ratings, as well as their availability of convenience features, like mobile applications, payment methods and prequalification.

Our recommendations were made after considerable deliberation with your best interests in mind. At MoneyGeek, we strive to provide you with the knowledge, up-to-date information and expert tips to make well-informed financial decisions.

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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.