MoneyGeek's Picks for Best Personal Loan Lenders in Grand Rapids, MI

MoneyGeek examined 30+ data points across multiple lenders to establish the top companies offering personal loans in Grand Rapids. Data points such as credit score requirements, disbursement period, fees, BBB ratings and APR ranges played a vital role in determining a lender’s ranking.

Our top pick in the city is LightStream. SoFi is the best for residents with a good credit score, and Upstart is for those with bad credit. Upgrade is the best for borrowers seeking to consolidate debt, and Best Egg had the highest rating for home improvement.

Best Overall Personal Loan Lender in Grand Rapids: LightStream

  • LightStream

    • 4.49% to 20.49%APR Range
    • 660Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Same DayTime to Receive Funds


    on LightStream Website

Best Personal Loan Lender for Bad Credit in Grand Rapids: 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 Personal Loan Lender for Good Credit in Grand Rapids: SoFi

  • SoFi

    • 5.74% to 20.28%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • Two DaysTime to Receive Funds


    on SoFi Website

Best Personal Loan Lender for Debt Consolidation in Grand Rapids: 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

Best Personal Loan Lender for Home Improvement in Grand Rapids: Best Egg

  • Best Egg

    • 4.99% to 35.99%APR Range
    • 700Minimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Best Egg

    on Best Egg Website

Where to Start: How to Choose the Best Personal Loan Lender in Grand Rapids for You

The average personal loan debt in Michigan is $14,756. You can use a personal loan to settle costs associated with emergencies, such as funeral and medical bills, or to consolidate debt or fund home improvement projects. Before applying for a personal loan in Grand Rapids, you must ensure your credit score and income level meet the lender’s requirements.

Here are some vital steps you should follow while shopping around for the best offer within the city.


Ask Yourself the Important Questions

Before applying for a personal loan, consider whether this is the best decision and how it will contribute to your financial goals. Compare a personal loan option against other funding alternatives and determine which one suits you. While shopping around, you can ask yourself the following questions to help you find the best funding for your situation:

  • How much funding do I need?
  • What is my credit score?
  • Can I afford the monthly payment?
  • How much debt do I already have?

Do Your Research

Your loan terms will depend on your profile and how best you meet the lender’s requirements. Detailed research can help you find an ideal offer for your needs, including some not included in this study.

While MoneyGeek reviewed data points from multiple lenders in Grand Rapids to ensure each borrower gets a suitable offer for their profile, personal research gives you a wide array of options to consider. You may also come across notable features of our top recommendations that we may have left out.



On average, a personal loan commits you to monthly payments of two to four years. After choosing your preferred lender, take some time to review their offer in detail alongside your existing financial obligations. Thinking through the lender’s terms can help identify aspects that need clarification and those that are likely to pose a risk to your economic well-being. You may also consider other funding alternatives if available.


Read the Fine Print

Checking the terms of your personal loan in detail can help you avoid unnecessary fees that add up to the total cost of your loan. Check for prepayment penalties, origination fees, late fees and hidden charges. Remember, not considering these costs means you will pay more for your loan than your initial estimates. If any information is missing from the fine print, consult your lender before submitting your application.



Once you go through the loan details and feel satisfied with the terms, you can submit your application. Most lenders allow you to complete the process online, but you may also apply in person at one of their branches. You will need personal identification documents and proof of income.

What to Do if You Can’t Get a Personal Loan in Grand Rapids

Lenders can deny you a personal loan for several reasons, including an incomplete application, not meeting the income or credit score requirements or having too much existing debt.

However, a denial does not mean you cannot apply for the same loan again. Consider contacting your lender to find out what happened with your application. If the issue is a missing document or incomplete details on your form, you can make the necessary adjustments and reapply. You may need, for instance, to lower the repayment duration or loan amount.

If you fail to meet the credit score threshold, consider improving your score before applying for a loan from the same or different lender.

After your loan gets denied, you may consider short-term loans, like payday loans. While these offer quick funding, they always have incredibly high-interest rates and feature a shorter repayment period.

Frequently Asked Questions About Personal Loans in Grand Rapids

The best personal loan lender depends on your profile. MoneyGeek answered some commonly asked questions about personal loans in Grand Rapids to help you identify the ideal lender.

Our Personal Loan Methodology

MoneyGeek used information from 35+ individual data points obtained from over 30 personal loan lenders to identify top companies in Grand Rapids. We combined these data points into six key categories, including lender transparency, loan affordability, customer service, consumer friendliness, flexibility and accessibility.

Each category had a set of data points with more influence on the lender’s scores. Some of them include credit score and income requirements, disbursement times, loan amount and APR ranges.

The consumer friendliness category comprised points that help evaluate each lender based on customer experience scores. The category considered factors like customer support, prequalification, mobile apps and payment options.

MoneyGeek’s top picks are carefully selected in favor of customer interests. Aside from recommendations, we also provide expert tips to help borrowers make informed decisions while shopping around for the best lender.


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.