Best Low-Income Loans in Wyoming: Top Lenders and Rates for 2023

MoneyGeek found that Upgrade provides the best overall low-income loans in Wyoming. In 2017, a group of fintech pioneers established this neobank with a mission to provide a better banking experience.

There are several perks that would-be borrowers will appreciate from an Upstart personal loan. For instance, the modest credit score requirement of 560 means that most Wyoming residents will qualify, given that the average credit score in the state is substantially higher at 722.

Another noteworthy benefit is that Upgrade directly pays third-party creditors, so borrowers no longer have to do the extra legwork. That said, there are drawbacks that you must consider, such as origination fees and late payment penalties.

Pros

• A+ BBB rating
• Flexible repayment terms
• No prepayment penalty
• Gives discount for autopay
• Low loan amounts available

• APR range: 5.94% to 35.47%
• Minimum/maximum loan amount: $1,000 to $50,000
• Minimum credit requirements: 560
• Repayment terms: 36 to 60 months
• Time to receive funds: Same day

Since its launch in 2007, LendingClub has given over four million of its members over $70 billion in loans. It has the distinction of being the country’s first public neobank, and consumers can access the wide variety of financial products that it offers conveniently either through the online portal or mobile application. It also is MoneyGeek’s runner-up for the best low-income loan lender in Wyoming.

Borrowers will benefit from the quick disbursement of loan funds, which they can receive the next business day. It also allows joint applications, which can help boost your chances of getting approved if you don’t have good credit. That said, this lender tends to charge high interest rates.

Pros

• A+ BBB rating
• Low minimum loan amount
• Joint applications allowed
• No penalties for prepayment

• APR range: 7.04% to 35.89%
• Minimum/maximum loan amount: $1,000 to $40,000
• Minimum credit requirements: 600
• Repayment terms: 36 to 60 months
• Time to receive funds: Next day

MoneyGeek found that Upstart is the best low-income loan provider in Wyoming for borrowers with bad credit. Established by former Google employees in 2012, this online lender has used the power of artificial intelligence to give greater access to affordable credit alongside a completely digital loan experience.

Upstart gives those with bad or no credit a shot at establishing their credit histories with its rock-bottom credit score requirement of 300 and loans that can be as low as $1,000. Even low-income borrowers who qualify for the maximum APR may still take advantage of a small, manageable Upstart loan to build their credit.

However, it might be best to look elsewhere if you want to save on your loan through autopay discounts or by avoiding origination fees.

Pros

• Low credit score requirement
• A+ BBB rating
• No penalty fees for loan prepayment
• Soft credit inquiry

• APR range: 3.22% to 35.99%
• Minimum/maximum loan amount: $1,000 to $50,000
• Minimum credit requirements: 300
• Repayment terms: 36 to 60 months
• Time to receive funds: Next business day

Established in 2005, Prosper is the country’s first peer-to-peer lender. It is also MoneyGeek’s top pick for the best low-income loan in Wyoming for borrowers with good credit.

To qualify for a Prosper loan ranging from $2,000 to $40,000, you must have a credit score of at least 640. However, you’ll need excellent credit to secure the lowest APR. These fixed-rate loans are unsecured, which means you don’t need to put in collateral, and there’s no need to worry about risking your assets. Loan disbursement takes minimal time, and loan funds can be deposited to your account as early as the same business day you’re approved.

That said, you might want to consider other lenders if you want to save on your loan since Prosper tends to charge high interest rates and multiple fees. It also doesn’t offer autopay discounts.

Pros

• A+ BBB rating
• Co-applicants allowed
• No penalty fees for loan prepayment
• Soft credit inquiry
• Fast funding

• APR range: 7.95% to 35.99%
• Minimum/maximum loan amount: $2,000 to $40,000
• Minimum credit requirements: 640
• Repayment terms: 36 to 60 months
• Time to receive funds: Same day