Best Personal Loans in Paradise, NV: Top Lenders & Best Picks for You

Updated: December 28, 2023

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WHAT WE’RE GEEKING OUT ON

MoneyGeek's Picks for Best Personal Loan Lenders in Paradise, NV

MoneyGeek considers over 30 criteria, such as interest rates, loan periods, borrowing limits, disbursement times and credit score requirements, to evaluate the lenders in the city. The ideal lender for you will vary based on your individual borrower profile and your financial needs.

Our guide provides a launching point for you to begin your research and start analyzing potential lenders. However, remember to analyze your unique financial situation to ensure you choose the best lender for your needs.

Best Overall Personal Loan Lender in Paradise: 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

    LightStream is MoneyGeek's overall top provider of the best personal loans in Paradise, Nevada. It is the online consumer lending division of SunTrust Bank, which was established in 2013.

    LightStream is the best option for borrowers in need of large sums of money because it offers a $100,000 loan and a payback period of two to seven years. The fund can be released as early as the same day of approval, which is perfect for those who need money right away. It has an A+ rating from the Better Business Bureau, and prepayments and late payments are not subject to penalties. There is no origination fee as well.

    However, LightStream performs a hard credit pull that could lower your credit. In addition, if your credit score isn't at least 660, you won't be eligible. The borrowed money cannot be used to pay for expenses associated with higher education, acquisition of stocks and bonds or making a business purchase.

    Pros

    • $100,000 borrowing limit
    • No origination fees
    • No late fees

    Cons

    • Minimum credit requirement of 660
    • Hard credit check
    • Doesn’t allow co-signers
    • High minimum loan amount
    • Fund usage restrictions
    LightStream

Best Personal Loan Lender for Bad Credit in Paradise: 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

    One of the biggest reasons that Upstart, a company founded in 2012, is our top choice for personal loans for people with bad credit is its minimum credit score requirement of 300. It also conducts a soft credit check, which means that until you commit to the company, inquiring about your rates won’t further hurt your credit. People who want to build their credit and need personal loans should consider Upstart.

    On the flip side, consumers with terrible credit must be prepared for a possibly high APR. Upstart allows borrowing up to $50,000, which is a modest sum. Although it offers a 10-day grace period for late payments, it’s still better to avoid them, especially for policyholders who want to build their creditworthiness.

    Pros

    • Low credit score requirement
    • Soft credit check
    • No prepayment penalty
    • A+ BBB rating

    Cons

    • Potentially high APR
    • Origination fee
    • Late fee
    • Low maximum borrowing limit
    • No co-signers
    Upstart

Best Personal Loan Lender for Good Credit in Paradise: 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

    When SoFi first launched in 2011, it focused on refinancing student loans. These days, the business also provides mortgages, personal loans and other financial services. It’s even MoneyGeek's choice as the best personal loan provider in Paradise for people with good credit.

    In addition to the $100,000 borrowing limit, SoFi also lets you apply for a combined loan with a co-borrower, who helps you qualify for the loan and assumes responsibility for payments. Co-signers are not, however, permitted. The lender even provides a number of useful member perks, such as different loan options and unemployment insurance.

    Perhaps the biggest downside to SoFi is its minimum credit score requirement of 680. Individuals who don’t meet the lender’s minimum gross income requirement are also not eligible.

    Pros

    • Can lend up to $100,000
    • Soft credit pull
    • No prepayment penalty and late payment fees
    • No origination fees
    • A+ BBB rating

    Cons

    • 680 minimum credit requirement
    • No co-signer allowed
    • Income requirement
    • Won’t accept people with new or no credit
    • Can take a couple of days to receive funds
    SoFi

Best Personal Loan Lender for Debt Consolidation in Paradise: 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

    According to our research, Upgrade provides Paradise residents with the best personal loans for debt consolidation. The business was established in 2016 and offers credit cards, auto loans, secured and unsecured personal loans and reward checking accounts.

    Upgrade will make a direct payment to your creditors if you plan to use the loan for debt consolidation. It also has the capability to send funds as soon as after approval, making it perfect for last-minute payments to meet deadlines for repaying debt and avoid paying higher interest. Upgrade even does a light credit pull and does not impose prepayment penalties.

    It's helpful for borrowers looking for small- to medium-sized loans to consolidate debts because the available funds range from $1,000 to $50,000. However, users should be wary of the maximum APR.

    Pros

    • A+ BBB rating
    • Soft credit inquiry
    • No prepayment penalty
    • Fair minimum credit requirement

    Cons

    • Origination fee
    • $50,000 borrowing funds limit
    • No co-signers
    • Restrictions on fund usage
    Upgrade

Best Personal Loan Lender for Home Improvement in Paradise: 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 provides the best personal loans for home improvements in Paradise, according to our study. The business is owned by Marlette Holdings, Inc., a provider of financial services.

    Borrowers can prequalify online with Best Egg, which first does a soft credit inquiry that has no impact on their credit scores. The borrowers often have the loan funds in their bank accounts a day following their approval. You can borrow money from Best Egg for home renovation projects, including replacing the garage door, remodeling the kitchen, installing new siding and building a deck or patio. The loan amounts range from $2,000 to $50,000.

    However, the APR for Best Egg can be high. Best Egg also includes an origination charge.

    Pros

    • No prepayment penalty
    • A+ BBB rating
    • Soft credit check

    Cons

    • 700 minimum credit requirement
    • $50,000 loan limit
    • Potentially high APR
    • Charges origination fees
    • No co-signers
    Best Egg

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

The average personal loan amount in Nevada is $18,301 with an average APR of 9.16%. When applying for personal loans, lenders will take into account your income, employment history, credit history and creditworthiness.

Getting a personal loan can be overwhelming. MoneyGeek outlined a guide below to help consumers find the best personal loan provider for them.

1
Ask Yourself the Important Questions

Before submitting a loan application, a few things must be taken into account. Start by evaluating your present financial situation to see if obtaining a personal loan would improve it. Consider other options to pay for your immediate demands or expenses before taking out a personal loan because it will take some time to repay one.

Additionally, it could be challenging for you to repay the loan installments each month if you have any other debt. Lenders frequently have various requirements, such as minimum credit scores and income restrictions. Check to see if you satisfy those requirements. Before moving forward, you should ask yourself the following questions:

  • How much funding do I need?
  • What is my credit score?
  • Can I afford the monthly payment?
  • How much debt do I already have?
2
Do Your Research

Various lenders may have different fees and rates as well as different ways of operating. Before filing a loan application, you should compare several lenders to see which ones are fit for you. Shortlisting lenders will let you focus on analyzing each of their strengths and weaknesses as well as how compatible they are with your situation and financial goal.

A personal loan requires a significant amount of commitment because you must pay it back over a period of two to four years, possibly longer. Before proceeding, make sure that it is the best course of action for you. Remember that although MoneyGeek’s research does take different types of consumers into account, our data still speaks for a more general audience. Therefore, you should still conduct your own research.

3
Wait

After comparing various lenders' features, offers, rates and fees, you should take a few days to consider your options before finalizing your decision. Consider your financial commitments carefully, and then decide which lender would best meet your needs.

Again, a personal loan is a significant commitment, so it's best to think and rethink whether getting one is the best course of action given your financial position.

4
Read the Fine Print

Before completing an application, you should carefully review all related expenses, such as the interest rates and supplemental fees. The loan agreement provided by the lender typically contains this information. It is best to question the lender about any upfront or concealed costs, such as prepayment penalties, late payment fees and origination fees, when making inquiries regarding the loan.

To determine how much you could pay for a personal loan and whether your financial circumstances would allow you to continue making payments in the long run, it is crucial to carefully read the fine print of the agreement.

5
Apply

Once you've decided on a lender and verified all the necessary information, you may submit an application. Lenders are required to request identification documentation, proof of address and income documentation during the application process. Although an in-person visit or phone call allows you to clarify more details, an online application is typically more convenient.

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

There are different reasons why you can be turned down for a personal loan, including poor credit, a high debt-to-income ratio, low income, an unstable job or missing papers in your application.

The best course of action when your application is denied is to request the lender's explanation for why it was denied so that you can work with them to make improvements. Although it could be tempting to submit an application with a different lender, you should wait to do so until you have addressed the issue that led to your initial rejection.

MoneyGeek advises against taking a payday loan because of its extremely high interest rates and the potential for additional debt accumulation if you are unable to make payments on time.

Frequently Asked Questions About Personal Loans in Paradise

Your needs, credit score and required income levels will determine which Paradise personal loan provider is right for you. To assist you in picking the best lender, MoneyGeek answered the following frequently asked questions.

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

Our Personal Loan Methodology

METHODOLOGY

Our evaluation of the best personal loan providers in Paradise, Nevada, was based on an internal scoring rubric that focuses on six key categories, including loan affordability, accessibility, lender transparency, customer service, customer friendliness and flexibility.

Each category has its own designated percentages, considering different factors, such as the available loan amount, the minimum credit score, application fees, disbursement time, the minimum income and APR ranges.

Our goal at MoneyGeek is to help you make better financial decisions through fact-based and well-researched data, so we considered essential factors, such as business ratings, customer support and additional features. Our recommendations are based on you, the consumer, and your best interests.

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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