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

Banner image
Edited byAshley Jacobs
Edited byAshley Jacobs

Updated: December 28, 2023

Advertising & Editorial Disclosure

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

MoneyGeek looked at more than 30 data factors to determine our rankings and top picks for the best personal loans in Reno. We analyzed a range of factors to find the best lenders for borrowers with good credit and bad credit histories.

We also found the top lenders for debt consolidation and home improvement loans. These profiles are based on an average consumer, so the best personal loan for you will depend on your financial situation, needs and preferences.

Best Overall Personal Loan Lender in Reno: 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 was established in 2013 as part of Truist Bank. Its online application process is convenient, and borrowers can receive their funds on the same day of their approval. LightStream provides personal loans with no fees or prepayment penalties, which means you can either pay your dues earlier or a little bit later than your due date without facing additional charges.

    Whether you need to take out a loan for a huge expense or a much smaller one, LightStream’s personal loans can cater to your needs. Its loan amounts range from $5,000 to $100,000. However, LightStream requires a credit score of at least 660 from their borrowers.


    • Low potential minimum APR
    • A+ BBB rating
    • No fees
    • No prepayment penalties


    • No co-signers
    • Fund usage restrictions
    • High minimum loan amount
    • Doesn’t accept people with new or no credit

Best Personal Loan Lender for Bad Credit in Reno: 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

    MoneyGeek recommends Upstart for borrowers in Reno with bad credit. Established in 2012, this company applies artificial intelligence (AI) technology to make the lending process more efficient. Upstart makes it possible for borrowers with bad credit scores to take out a loan, as it only requires a credit score of 300 to qualify.

    Nevertheless, your loan amount and APR still depend on your credit score. Upstart loans range from $1,000 to $50,000. Although you can be approved despite your bad credit, there’s a possibility that your APR will be high.

    Applicants can check their rates within a few minutes. As long as there are no additional documents needed for your application, you can be approved quickly and funds can be released the next day.


    • Credit score required is only 300
    • Soft credit check
    • No prepayment penalty
    • A+ BBB rating


    • Potentially high APR
    • Has an origination fee
    • No co-signers
    • Low maximum loan amount
    • Late fee

Best Personal Loan Lender for Good Credit in Reno: 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

    If you have a good credit profile, SoFi might be the best lender for you. To qualify for a personal loan from this lender, you need a credit score of at least 680. You should also be employed or have a sufficient monthly income and cash flow source.

    SoFi was founded in 2011, and it has since provided more than $50 billion in loan funds. It’s a trustworthy lender with personal loans that don’t charge origination, prepayment and late fees. Loans can range from $5,000 to $100,000.


    • No origination, prepayment and late fees
    • Offers unemployment protection
    • A+ BBB rating
    • Autopay discount
    • Soft credit check


    • Release of funds can take a couple of days
    • No co-signers
    • Higher credit score needed
    • Employment requirements
    • Won’t accept people with new or no credit

Best Personal Loan Lender for Debt Consolidation in Reno: 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

    Using a personal loan for debt consolidation has many benefits, including having a fixed monthly payment, lower rates and a defined repayment period. MoneyGeek found that the best personal loan lender in Reno for debt consolidation is Upgrade, a company that was launched in 2017.

    Depending on your credit score, your APR can be a bit higher compared with other personal loans. Borrowers can take out loans from $1,000 to $50,000. You also won't incur any prepayment penalties.


    • Flexible repayment terms
    • No prepayment fees
    • Credit score requirement of 560
    • A+ BBB rating


    • Possibility of having a high APR
    • Charges an origination fee
    • Charges a late fee
    • No co-signers
    • Restrictions on fund usage

Best Personal Loan Lender for Home Improvement in Reno: 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

    Significant home improvement projects can be costly. Personal loans give you access to quick funding so you can start these projects as soon as possible. They also help you save money by providing smaller APRs than credit cards. If you’re planning on tweaking something at home, Best Egg is our top choice for home improvement loans.

    To get the lowest possible APR, borrowers need a credit score of at least 700. They must also meet minimum income requirements.

    You can take out a loan of $2,000 to $50,000 and get the funds within the next business day. Best Egg does not charge prepayment penalties.


    • A+ BBB rating
    • No prepayment penalty
    • Autopay discount
    • Soft credit inquiry


    • Minimum credit score requirement of 700
    • Income requirements
    • Late fees
    • Charges an origination fee
    • No co-signers
    Best Egg

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

The average personal loan debt in Nevada is $18,301 with an average APR of 9.16%. These loans are used for different reasons. Whether you need funds for a home improvement project or to pay off your debts, consider your credit score and funding needs before applying.

MoneyGeek prepared a guide to help you get started with the application process. We recommend following these steps to find the best personal loan in Reno.

Ask Yourself the Important Questions

There are a lot of factors to consider when getting a loan. Therefore, it’s important to know the reasons you’re getting a loan. Then, you’ll know how much you need and whether you can repay the loan over time.

Here are a few questions you can ask yourself before applying for a personal loan:

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

Knowing these details allows you to assess your financial status. Take note that the best personal loan in Reno ultimately depends on factors that are specific to your needs.

Do Your Research

Taking out a loan is a huge commitment. You’ll have to pay in monthly installments for around two to four years on average. Because of this, you need to be sure about your choice of lender. The best way to pick one is by exploring your options.

Consider comparing rates to find which one fits your budget the best. MoneyGeek provides guides that include our top picks for different consumers. Although we do our best to provide accurate information and recommendations, these are all generalizations based on an average borrower profile. At the end of the day, your financial situation and personal needs strongly influence your decision.


You might still be debating if you should get a loan or not. You could also be confused about which lender to choose. Therefore, it’s important to give yourself time to deliberate on your options, preferences and needs.

Waiting a day or two before finalizing your decision helps you make a more thought-out choice. It will also help you reconsider your options and weigh the pros and cons of your options.

Remember that having a loan entails a lot of commitments, from hard credit checks to monthly payments. You need to be absolutely confident about your choice.

Read the Fine Print

It’s easy to miss some details, especially when you’re thinking about a wide range of factors when getting a loan. To make sure that you’re not getting into a borrowing trap, it’s important to check the fine print.

Reading the fine print allows you to see even the tiniest of details about your loan. When you’ve decided on your lender, go over the loan agreement and take your time.

Focus on the fees, like the prepayment penalties, late fees, origination fees and other additional fees that come with your loan. Paying close attention to detail can save you a lot of money in the long run.


Once you’re confident about your decision and you’ve familiarized yourself with the details of your loan, it’s time to apply. The application process varies with every lender, but it’s standard procedure to ask for identification, address verification and proof of income. More importantly, make sure that you provide the correct information in your application to avoid delays in the process.

Some lenders allow you to apply online via their official website. Others may need you to visit their office or contact their representative over the phone. Either way, you need to choose the method that you’re most comfortable with.

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

Loan applications are denied due to many reasons, like low credit score, insufficient income, inaccurate information and more. It’s all right if you’ve been denied a loan since there are ways to improve your application.

The first thing you should do is contact your lender and ask them why you’ve been denied a loan. Knowing the exact reason means you can work on it or make a few changes.

For example, you can confirm or correct certain information if you’ve made a mistake. You can also extend the repayment term to lessen your monthly payments so it can fit your budget.

It’s better to work on the reason first before applying for a loan from a different lender. Otherwise, the new lender may reject you again for the same reason as your previous lender.

MoneyGeek advises against payday loans. Even though they’re much faster and easier to get, these loans often have large interest rates that make them difficult to pay back.

Frequently Asked Questions About Personal Loans in Reno

The best personal loan in Reno depends on your credit profile and other income factors. MoneyGeek answered the most common questions about personal loans in Reno to help you decide on which lender to pick.

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

Our Personal Loan Methodology


We evaluated more than 30 personal loan lenders using 35+ distinct data points across six key categories: 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. These factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.

We took into account a number of distinct data elements that we believe are most important when selecting a personal loan lender under each category. These variables include the APR ranges, the maximum loan amount, the required credit score, the required minimum income, the application cost and the disbursement period.

MoneyGeek values every consumer. We consider the quality of a lender’s customer support, ratings and other features that could make your experience smoother and more accessible. Some of the features we look for are prequalification, payment options and mobile apps.

We’ve considered these calculations carefully to find our top picks. We guarantee that we’ve determined these rankings with your best interest in mind. Our goal is to help you make the best decision when choosing a lender with our personal loan recommendations and expert tips.

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.