Best Low-Income Loans in Pennsylvania: Top Lenders and Rates for 2024
Updated: December 28, 2023
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- Best Overall Low-Income Loan Lender in Pennsylvania
- Runner-Up for Best Overall Low-Income Loan Lender in Pennsylvania
- Best Low-Income Loan Lender for Bad Credit in Pennsylvania
- Best Low-Income Loan Lender for Good Credit in Pennsylvania
- How to Choose the Right Personal Loan for You
- What to Do if You Can’t Get a Low-Income Loan in Pennsylvania
- Calculate Your Monthly Payment
- Frequently Asked Questions About Personal Loans in Pennsylvania
Best Low-Income Loan Lenders in Pennsylvania
If you’re a low-income borrower in need of a personal loan to fund a vacation, pay for an emergency expense or consolidate debt, MoneyGeek has you covered. We researched and compared over 30 personal loan lenders for their annual percentage rates (APRs), repayment terms, loan amounts, fees and eligibility requirements to find the best low-income loan lender in Pennsylvania.
MoneyGeek ranked Upgrade as the best overall low-income loan lender, with LendingClub as the runner-up pick. Borrowers with poor credit may consider choosing Upstart, our top pick for those with limited credit histories or bad credit scores. Those with good credit should consider Prosper for their funding needs.
Best Overall Low-Income Loan in Pennsylvania: Upgrade
Runner-Up for Best Low-Income Loan in Pennsylvania: LendingClub
Best Low-Income Loan for Bad Credit in Pennsylvania: Upstart
Best Low-Income Loan for Good Credit in Pennsylvania: Prosper
What to Do if You Can’t Get a Low-Income Loan in Pennsylvania
If your loan application is denied, it may be due to your credit score, DTI ratio, repayment term or preferred loan amount. After your application is denied, you should contact your lender to find out why.
Your application may be approved if you modify some aspects of your loan agreement, like your repayment term or loan amount. However, if your credit score or DTI ratio was the reason, there’s no instant fix. You should improve these factors first if you don’t need emergency funding. It will benefit you in the long run.
MoneyGeek strongly advises against payday loans, as these feature high interest rates and short repayment terms. What you can do is try applying for a low-income loan with another lender or check out low-interest loans.
Calculate Your Monthly Payment
When your loan application is approved, you’re locked into monthly payments, including interest. Before applying for a personal loan, you should calculate your approximate monthly payment. You can use MoneyGeek’s personal loan calculator to estimate how much money to set aside to repay your loan.
FAQs About Low-Income Loans in Pennsylvania
A low-income loan in Pennsylvania can help you obtain funding quickly. Before submitting an application, it’s important to make sure it’s the best decision for you. MoneyGeek answered the most frequently asked questions about low-income loans in the state to help you learn more.
Methodology
sources
- LendingClub. "Personal Loans | Get a Loan Online with LendingClub [2022]." Accessed October 26, 2022.
- LendingClub. "LendingClub Surpasses 4 Million Members." Accessed October 26, 2022.
- Prosper. "Personal Loans - Apply Online for a Low Rate Loan With Prosper." Accessed October 26, 2022.
- Prosper. "Prosper Marketplace - About Us." Accessed October 26, 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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