Top Lenders & Best Picks for You

Best Personal Loans in Omaha, NE

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Updated: December 28, 2023

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WHAT WE’RE GEEKING OUT ON

MoneyGeek's Picks for Best Personal Loan Lenders in Omaha, NE

MoneyGeek reviewed personal loan lenders in Omaha for over 30 data points. We took into consideration a company's affordability and accessibility, APR ranges, loan terms, minimum credit score and income requirements, origination fees, late fees, disbursement times, customer service reputation, BBB ratings and other features.

Our research found that LightStream has the highest rankings, making it the best personal loan lender in Omaha. Nonetheless, the top lender will depend on the unique borrower's profile and needs.

SoFi offers the best personal loans in Omaha for borrowers with good credit. If you have bad credit, Upstart may be the ideal lender. Upgrade is the best lender for borrowers looking to consolidate debt, whereas Best Egg is the best pick if you want to renovate your home.

Best Overall Personal Loan Lender in Omaha: 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

    Based on MoneyGeek's analysis, the best personal loan lender in Omaha is LightStream. The company was established in 2012 as SunTrust's online lending division. Since then, it has become a leading lender for low-interest and fixed-rate loans.

    LightStream has flexible loan offers — you can borrow as much as $100,000, payable for up to 84 months. You may also enjoy low-interest rates and an auto payment discount of 0.5%.

    LightStream promises to beat competitor interest rates by 0.1% if you can show that you have received a lower offer from another provider. You won't have to deal with origination, prepayment or late fees with this lender.

    A good or excellent credit score will help you qualify for a LightStream loan. While you can apply online, the lender does not prequalify applicants. It will also do a hard credit pull to verify scores. With LightStream, you can get funds the same day you apply for a loan. The lender does not offer direct payment to creditors.

    Pros

    • Relatively high maximum loan amount
    • No origination, prepayment or late fees
    • Offers 0.5% autopay discount
    • Funding within the same day
    • Rate beat program available

    Cons

    • No prequalification
    • Need good to excellent credit to qualify
    LightStream

Best Personal Loan Lender for Bad Credit in Omaha: 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 is the best personal loan lender in Omaha if you have bad credit scores. Founded in 2012, Upstart was one of the first companies to use artificial intelligence to evaluate loans.

    With Upstart, you can borrow up to $50,000 and pay that for as long as five years. The company prides itself on having high approval rates compared to other banks. Keep in mind that you only need a credit score of 300 to qualify.

    Upstart only does a soft credit pull when checking for rates. You can apply for a loan conveniently online and enjoy its quick approval process. The lender may also disburse funds within the same day.

    Upstart's loans come with origination fees. You don't need to settle a prepayment penalty if you decide to pay your loan early. However, you should know that getting a loan from Upstart comes with a high APR. You may also experience difficulty looking up Upstart's policies as its website lacks a detailed FAQs page.

    Pros

    • Low credit score requirement
    • Next-day funding
    • Soft inquiry checks during prequalification
    • No prepayment fees
    • Allows online application

    Cons

    • Low maximum loan amount
    • Charges origination and late fees
    • A high APR range
    • The website lacks a FAQs page
    Upstart

Best Personal Loan Lender for Good Credit in Omaha: 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

    Borrowers with good credit scores have access to lenders with impressive offers. Nonetheless, MoneyGeek's analysis found that SoFi is the best personal loan lender in Omaha if you have good credit.

    SoFi (also known as Social Finance) initially sold student loans back in 2011. Since then, the company has expanded its offers and now provides savings accounts, insurance, investments and loans.

    The lender offers generous loan packages. You can borrow up to $100,000 and pay it for up to 60 months. A personal loan from SoFi comes with low-interest rates and autopay discounts, making it even more affordable. Additionally, you won't incur origination, prepayment or late fees.

    However, if your credit score is less than 680, you won't be able to qualify for a SoFi loan. You can improve your chances by applying with another borrower, but getting approval may take up to two weeks. It's important to note that the lender does not allow co-signers.

    SoFi only does soft credit checks when it is prequalifying applicants. You can find SoFi policies on the website's FAQs page.

    Pros

    • No origination, prepayment or late fees
    • Soft credit pull
    • Joint loans available
    • Offers auto payment discounts
    • FAQs page featured on the website

    Cons

    • Good to excellent credit to qualify
    • Co-signers not allowed
    • High minimum loan amount
    • Longer approval time for joint applications
    SoFi

Best Personal Loan Lender for Debt Consolidation in Omaha: 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 offers the best personal loans in Omaha if you want to consolidate debt. A relatively new lending company, it has served over 1 million customers since 2017. In addition to its personal loans, Upgrade provides checking accounts and credit cards to its customers.

    You can borrow up to $50,000 from the lender and get a relatively lengthy repayment term — up to 84 months. It pays creditors directly for debt consolidation.

    Upgrade only does a soft credit pull during the initial evaluation. To qualify, you need a credit score of at least 560. Expect your loan to be disbursed within the same day you apply. You may get a discount by signing up for autopay.

    Upgrade has no prepayment fee, but the loans attract late payment penalties and origination fees

    Pros

    • Repayment term of up to 84 months
    • Direct payment to creditors
    • Auto payment discounts
    • Soft credit inquiries
    • No prepayment fees

    Cons

    • Up to 8% origination fee
    • Low maximum loan amount
    • Penalties for late payment
    • No co-signers
    Upgrade

Best Personal Loan Lender for Home Improvement in Omaha: 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 is the best personal loan lender in Omaha for individuals doing home renovations. Best Egg is an online lending platform founded in 2014. Cross River Bank and Blue Ridge Bank underwrites its loans.

    Best Egg's maximum loan limit of $50,000 is payable for up to 60 months. The lender doesn't charge prepayment penalties but offers auto payment discounts. It has relatively high-interest rates and only conducts soft inquiries when verifying credit scores during prequalification.

    It is difficult to qualify for a Best Egg loan if you have poor credit as it requires a minimum credit score of 700. The provider doesn't allow co-signers or joint loans but charges late and origination fees (up to 6%).

    Pros

    • No prepayment fees
    • The website displays rates
    • Repayment term of up to 60 months
    • Online application available

    Cons

    • Up to 6% origination fee
    • Late fees
    • APR can go as high as 35.99%
    • No autopay discount
    Best Egg

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

In Nebraska, the average personal loan debt is $24,901. Omaha residents now use personal loans to finance both planned and unplanned expenses. This is because due they are flexible and easy to apply. You can use them to fund a house repair project, a large purchase, an emergency expense or a wedding.

Although personal loans have simple requirements, it's important to consider certain factors before applying for a loan. MoneyGeek evaluated the steps you should take to get the best personal loan in Omaha.

1
Ask Yourself the Important Questions

Your chances of getting approval for your personal loan depend on key factors. Ask yourself the following questions before you apply for a personal loan:

  1. How much funding do I need? You'll have to pay with interest when repaying a loan. The higher the loan limit, the more difficult it will be to secure approval. Determine how much money you truly need.
  2. What's my credit score? Since personal loans are unsecured, lenders will rely on your credit score to establish your creditworthiness. A high credit score will improve your chances of approval.
  3. Can I afford the monthly payment? Check your monthly expenses and calculate if you have enough disposable income to repay the loan. Doing so is essential because having late payments or defaulting on your loan can seriously affect your credit score. Ensure sure you can afford to pay the monthly fee.
  4. Do I have existing debts? Lenders may look at your debt-to-income ratio when evaluating your loan application. If you have too much debt, your preferred lender will be less likely to approve your loan.
2
Do Your Research

Gather all the information you can before applying for a loan. Scrutinize the company's interest rates, monthly payments, credit checks, and other policies. At the same time, look out for loan usage restrictions, as some providers don't allow you to spend the funds on specific things.

MoneyGeek collected all the information you need to apply for a personal loan in Omaha. However, our recommendations are generalized and may not apply to your needs and situation. Conduct your own thorough research to find the best fit for you.

3
Wait

Getting a personal loan is a huge financial commitment. Before applying for a loan, analyze whether it's the right decision based on your current financial situation. Wait a day or two before making your decision. When time passes, you get a fresher outlook and a more objective perspective, which is vital for situations like this.

Personal loans are paid over an extended period and with high-interest rates. If you plan to use your personal loan for leisurely expenses, consider holding off until you save the amount you need. Even if you're sure that getting a personal loan is the best option, it makes sense to wait before acting on anything.

4
Read the Fine Print

Once you've decided to get a personal loan, narrow down on a lender and revisit its offer. Study the fine print on your personal loan to get to know a lender's terms and feeds.

Prepayment penalties, early payoff fees, origination fees and other fees can add to your expenses, so take note of them. Carefully studying your provider's agreement may save you money in the long run.

5
Apply

Once you've carefully considered all your options and are confident that you chose the right lender, it's time to apply for the loan. Prepare the documents that the chosen provider will ask for. A lender will typically ask for your income information and financial statements.

Most personal loan lenders in Omaha offer the option to apply for loans online. It's a convenient process since you can conduct everything from home. You can still call or visit a provider's office if you prefer to transact with an actual person.

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

After providing your lender with the required details and documents, your loan application may get delined. This may happen because of a low credit score, insufficient income or insufficient paperwork.

It's not the end of the world if you end up with a denied application. You can still reach out to the company to find out why they rejected your loan. It's good to understand the lender's reasons, as you need to fix their findings to have a better chance of securing approval on your next application.

It is tempting to apply to other lenders immediately, but improving your creditworthiness is wiser. You might need to pay off some of your debts or find a way to increase your income. In addition, getting a joint loan or finding a co-signer could also improve your chances. If you don't deal with the factor that caused the initial rejection, you'll find it difficult to secure approval from even other lenders.

We strongly advise against payday loans because of their high-interest rates and short repayment terms.

Frequently Asked Questions About Personal Loans in Omaha

The best personal loan company in Omaha for you will depend on your needs and financial situation. To help you look for the right provider for your needs, MoneyGeek answered some of the most common questions:

What is the best personal loan lender in Omaha?
Which lender in Omaha has the lowest interest rate?
Can I use a personal loan for vacations in Omaha?
Can I use a personal loan for home improvement in Omaha?
What can I not use my personal loan for in Omaha?
How much can I borrow in Omaha?
How long does it take to get a personal loan in Omaha?
Can I pay off my loan early in Omaha?

Our Personal Loan Methodology

To evaluate over 30 personal loan lenders, MoneyGeek used more than 35 individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

For each category, we considered numerous data points that we assume hold the most weight for borrowers choosing a personal loan lender. APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time are all significant.

Here at MoneyGeek, we value user experience. In our analysis, we factor in each company's customer service reputation, business ratings and additional features that make your experience easier and more accessible. These features include prequalification, payment options and availability of mobile apps.

We determined our picks after careful consideration and calculation with your best interest in mind. Our personal loan suggestions and expert tips are meant to help you make the best decision when choosing a lender that suits your needs.

sources
Shield Insurance

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.

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