What is the best personal loan lender in Missouri?

**LightStream** was rated the top overall personal loan provider in Missouri by MoneyGeek. However, depending on your circumstances, the ideal personal loan option for you may differ. **Upstart** is the best lender if you have bad credit, **SoFi** is the best option for people with good credit, **Upgrade** is the best for people who want to consolidate debt and **Best Egg** is the best lender for home renovations.

Which lender in Missouri has the lowest interest rate?

Upstart offers the lowest interest rate in Missouri at as low as 3.22%.

Can I use a personal loan for vacations in Missouri?

You can use a personal loan for a vacation but check with individual lenders to see if there are any restrictions as some do not allow loans for this purpose.

Can I use a personal loan for home improvement in Missouri?

In Missouri, a personal loan may be used for home renovation. MoneyGeek found Best Egg to be the best lender for home renovations in Missouri.

What can I not use my personal loan for in Missouri?

The lender determines personal loan restrictions in Missouri. For example, Upgrade prohibits you from utilizing borrowed funds to pay for post-secondary education or investing purposes.

How much can I borrow in Missouri?

Personal loan amounts differ from one lender to the other. LightStream allows you to borrow up to $100,000. Meanwhile, the maximum loan amount available from Best Egg is $50,000. Before submitting your application, inquire about a provider’s minimum and maximum loan amounts.

How long does it take to get a personal loan in Missouri?

The time it takes to get funds varies on the lender. Some provide same-day fund disbursements, while others may take up to seven days.

Can I pay off my loan early in Missouri?

You can pay off your debt early. Check with your lender to see if there is an early payment penalty.

Top Lenders & Best Picks for You

Best Personal Loans in Missouri

MoneyGeek found that LightStream offers the best personal loans in Missouri, noting the lender’s disbursement of sizable loan amounts and autopay discount.

The best personal loans in Missouri, according to MoneyGeek’s study, include SoFi for borrowers with good credit, Upstart for borrowers with bad credit, Upgrade for debt consolidation and Best Egg for home improvements.

WHAT WE’RE GEEKING OUT ON

The Best Overall Personal Loan Lender in Missouri
The Best Personal Loan Lender for Bad Credit in Missouri
The Best Personal Loan Lender for Good Credit in Missouri
The Best Personal Loan Lender for Debt Consolidation in Missouri
The Best Personal Loan Lender for Home Improvements in Missouri
How to Choose the Right Personal Loan for You
What to Do if You Can’t Get a Debt Consolidation Loan in Missouri
Calculate Your Monthly Payment
Frequently Asked Questions About Personal Loans in Missouri

MoneyGeek’s Pick on Best Personal Loan Lender in Missouri: LightStream

MoneyGeek analyzed several lenders using over 30 factors to determine the best lender for various categories of borrowers. We researched and selected lenders based on BBB rating, interest rates, loan terms, loan fees and other convenience factors like online application and mobile app availability.

Best Overall Personal Loan Lender in Missouri: 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
MoneyGeek thoroughly evaluated different Missouri lenders using over 30 factors to select the best options. LightStream was rated the best overall personal loan provider in Missouri by MoneyGeek, thanks to the lender's ability to disburse large loan sums at the customer's convenience online through their mobile app.
In 2013, SunTrust Bank established LightStream, an online lending division. The company offers personal loans online via its mobile app, which is widely available nationwide.
LightStream is also a no-fee lender; they do not charge origination fees, prepayment fees or late fees, making this lender an excellent choice for most consumers shopping for personal loans.
LightStream exclusively lends to consumers with good credit. LightStream likely won't approve your loan request if you have no or new credit.
Pros
Offer loans up to $100,000
A+ BBB rating
Same-day fund disbursement
0.5% autopayment discount
Fast online application

Cons
Restrictions on loan usage
Requires good to excellent credit score
Conducts hard credit inquiry
APR Range: 4.49%–20.49%
Minimum/maximum loan amount: $5,000–$100,000
Minimum credit requirements: 660
Repayment terms: 24–84 months
Time to receive funds: Same day
on LightStream Website

Best Personal Loan Lender for Bad Credit in Missouri: 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
Upstart, an artificial intelligence lending platform, was founded in 2012. Upstart collaborates with banks and credit unions and has serviced over 1.8 million people in 48 states, including Missouri.
MoneyGeek researched numerous lenders to find one that provides loans to those with poor credit in Missouri. Upstart tops the list because of its modest credit limit of 300, A+ BBB ratings and capacity to release payments the next day. Although Upstart offers loans ranging from $1,000 to $50,000, it may not be a suitable match for you if you need an amount that exceeds their maximum limit or you have a debt-to-income ratio of more than 45%.
Pros
Conducts soft credit inquiry
No prepayment penalty fees
Low minimum credit score of 300
Debt-to-income ratios of up to 45%
Offers joint loan

Cons
Low borrowing limit
Origination fee could be as high as 8%
Charges late payment fees
APR range: 3.22%–35.99%
Minimum/maximum loan amount: $1,000–$50,000
Minimum credit requirements: 300
Repayment terms: 36–60 months
Time to receive funds: Next day
on Upstart Website

Best Personal Loan Lender for Good Credit in Missouri: 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
You are an attractive loan candidate to lenders if you have good credit. With so many lenders willing to provide you with a personal loan in Missouri, it may be tough to choose the best option for you. MoneyGeek reviewed numerous lenders and determined that SoFi was the best lender if you have good credit.
Since its inception in 2011, SoFi has funded approximately $59 billion in loans. They provide up to $100,000 loan with no origination, prepayment or late fees.
If your gross income is less than $50,000 or your credit score is lower than 680, SoFi will not approve you for a personal loan.
Pros
Conducts soft credit inquiry
No late fee
No origination fee
No prepayment fee
Up to $100,000 loan amount

Cons
No co-signers
Requires $50,000 minimum gross income
Individuals with new or no credit aren’t eligible
APR range: 5.74%–20.28%
Minimum/maximum loan amount: $5,000–$100,000
Minimum credit requirements: 680
Repayment terms: 12–60 months
Time to receive funds: Two days
on SoFi Website

Best Personal Loan Lender for Debt Consolidation in Missouri: 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
Upgrade, a neobank in the United States, was established in 2016 and welcomes customers with fair credit scores of 560. As long as you meet the requirements, you may get a loan from Upgrade on the day you are approved.
Loan amounts ranging from $1,000 to $5,000 are available. Repayment terms are between 36 and 60 months.
You cannot utilize Upgrade loans to pay for post-secondary education or to invest.
Pros
A+ rating from BBB
1% autopayment discount
No prepayment fee
Doesn’t require minimum gross income
Conduct soft inquiries

Cons
High origination fee
Charges late fees
Limits on fund usage
APR range: 5.94%–35.47%
Minimum/maximum loan amount: $1,000–$50,000
Minimum credit requirements: 560
Repayment terms: 36–60 months
Time to receive funds: Same day
on Upgrade Website

Best Personal Loan Lender for Home Improvement in Missouri: 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
MoneyGeek analyzed the top home renovation personal loan options for Missouri residents. When it comes to home renovation in Missouri, Best Egg tops the list. Best Egg’s interest rates are as low as 4.99% and the company offers auto repayment discounts of 0.5%. BBB gave them an A+ rating.
Best Egg has funded more than 1 million loans since its inception in 2014. Based on Best Company's independent ranking and user reviews, consumers voted Best Egg the best personal loan company.
However, Best Egg’s high credit score requirements make it unsuitable for those with poor credit.
Pros
Fast online application
A+ rating from BBB
No prepayment fee
0.5% discount for auto payments
Conducts a soft credit inquiry

Cons
High minimum credit requirement
High late fee charge
Low borrowing limit
APR range: 4.99%–35.99%
Minimum/maximum loan amount: $2,000–$50,000
Minimum credit requirements: 700
Repayment terms: 36–60 months
Time to receive funds: Next day
on Best Egg Website

How to Choose the Best Personal Loan Lender in Missouri for You

When applying for a personal loan, you will likely be choosing from a variety of lenders. An excellent place to start when applying for a loan is considering your credit score, income and current debts. The average personal loan debt in Missouri is $14,625, and people use these loans to pay off debt, buy a car, finance medical expenses and more. MoneyGeek outlines some steps to take when applying for a personal loan in Missouri.

Ask Yourself the Important Questions

Before you apply for a personal loan, it is smart to ask yourself if you really need a personal loan. If you want funding to pay for a large purchase, consolidate your bills or renovate your home and meet specific requirements, you may want to take on a personal loan. However, before taking out a personal loan, consider how much money you need, your credit score, your existing debt and whether you can afford payments after accounting for your other financial obligations.

Do Your Research

Researching your options and understanding what’s best for you and your situation can save you time, hassle and money. It’s important to compare lenders before applying for a loan, as there are plenty of great options. Don’t go with one lender because it has a flashy website or slick advertising campaigns; do your research and shop around to find the best rates.

For example, the APR rate determines how much you pay back over time, so it is important to compare rates from multiple lenders before applying for a loan. A personal loan can take two to four years to pay off.

MoneyGeek provides you with an unbiased review of the best personal loan lenders to help you find a good fit. However, your unique situation may mean a different option is better for you, so it’s good to do your own research.

Wait

A personal loan is a big commitment, so it is important to take your time and think carefully about what you need. Read the small print to understand all the factors before making your choice. When you settle on a lender, you may want to wait a few days before applying. This will give you enough time to do more research and think critically before committing yourself.

Read the Fine Print

Before you sign up for a personal loan, find out what fees come with it. Some companies charge early payoff penalties or origination feesr. When choosing a lender, investigate their record of customer service. You should find out whether they are easy to contact by phone and respond to emails promptly. Look at reviews from current and former customers who shared their experiences interacting with the lender for insight.

Apply

When you're satisfied that your lender is a good fit, it's time to fill out an application. Most lenders require personal information before they can approve your loan, so it’s smart to plan ahead and make sure you have everything you need. They will need identity, address verification and proof of income information during the application process. Don’t hesitate to ask about anything that seems off or confusing. A brief phone call or, if feasible, a visit to the lender could save time and effort.

What To Do if You Can’t Get a Personal Loan in Missouri

Personal loan applications are not always approved and this can happen for a number of reasons. It’s possible your credit score isn't high enough, or you haven't had a consistent source of income for long enough for your lender. If your personal loan application is turned down, you may contact the lender by phone or email to find out why.

You may apply for a loan at another company, but it’s smart to first improve whatever factor caused your prior loan to be declined.

A payday loan may be a tempting source of fast cash, but may be a bad decision. These loans have several drawbacks. Their interest rates are usually high and the repayment terms are generally very short.

Frequently Asked Questions About Personal Loans in Missouri

Personal loans may be used for urgent and non-urgent expenses, such as unexpected medical expenses or home repair projects. If you're applying for a personal loan in Missouri, lenders will consider various factors, including your credit history, current income, monthly expenses and more to make a decision. MoneyGeek answers some of the most common questions about personal loans in Missouri.

METHODOLOGY

We reviewed more than 30 personal loan lenders using 35+ individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Within each ranking criteria category, we considered several individual data points that we feel carry the most weight when choosing a personal loan lender within each ranking criteria category. These factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.

Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible — like prequalification, payment options and mobile apps.

After careful consideration and calculation, our picks are decided and chosen with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing a lender that meets your needs.

sources

LightStream. "LightStream." Accessed March 7, 2022.
Upstart. "Upstart." Accessed March 7, 2022.
SoFi. "SoFi." Accessed March 7, 2022.
Best Egg. "Best Egg." Accessed March 7, 2022.
Upgrade. "Upgrade." Accessed March 7, 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 our editorial policies and expert editorial team.