Best Personal Loans in Buffalo, NY: Top Lenders & Best Picks for You

Updated: December 28, 2023

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MoneyGeek's Picks for Best Personal Loan Lenders in Buffalo, NY

MoneyGeek ranked the best personal loans in Buffalo and determined the top lenders by exploring over 30 data points. Generally, the best option depends on your needs and how well you meet the lender’s terms. Our analysis indicates the top overall lender plus top picks for those with good credit, bad credit, home improvement, and debt consolidation based on factors such as the loan limit, repayment term, interest rates and penalties.

Based on MoneyGeek’s findings, LightStream offers most borrowers the best personal loan in the city. SoFi ranks highest for borrowers with good credit, and Upstart is our top choice for those with bad credit.

Best Overall Personal Loan Lender in Buffalo: 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 offers personal loans in Buffalo for practically any purpose, except refinancing an existing LightStream loan, paying for postsecondary education and investing in bonds and stocks. Established in 2013, the online lender offers loans ranging from $5,000 to $100,000, depending on each borrower’s needs and eligibility.

    LightStream, a division of Truist, has a relatively low credit score requirement of 660. Repayment periods span two to seven years. Aside from managing your account online, you can use the LightStream app to track your payments. After submitting your application, the lender funds your account quickly, often as soon as the same day. Borrowers who set up automatic payments receive a 0.50% discount on their payments.


    • Loans up to $100,000
    • Relatively lower interest rates
    • No origination or prepayment fees
    • Available in all the states


    • Good-to-excellent credit score required
    • Restrictions on fund usage
    • Borrowers must have a personal banking account
    • Hard credit check

Best Personal Loan Lender for Bad Credit in Buffalo: 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 MoneyGeek’s pick for the best lender for people with bad credit, offering personal loans between $1,000 and $50,000 to those with credit scores as low as 300. The company was founded in 2012 and is one of the leading digital lending platforms with a fully automated loan application process. It features a minimum APR that is significantly lower than most lenders but reserved for customers with excellent credit.

    The lender conducts an initial soft credit check before a hard inquiry and disburses funds a day after your application gets approved. Although Upstart is the best for people with poor credit, you may need to consider other lenders if you intend to borrow more than $50,000.


    • Low credit score required
    • Does not charge a prepayment penalty
    • Initial soft credit inquiry
    • Low minimum APR


    • Maximum loan limit of $50,000
    • Up to 10% origination fee
    • Late payments are subject to a $15 fee

Best Personal Loan Lender for Good Credit in Buffalo: 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

    Buffalo residents with a credit score of at least 680 may opt for a personal loan from SoFi, MoneyGeek’s top pick for those with good credit. Social Finance was established in 2011 as a student loan lender, later diversifying into other loan products, including personal loans.

    SoFi lends a minimum of $5,000 and a maximum of $100,000 based on the borrower’s credit score and income level. The lender’s personal loans feature a flexible repayment period.

    During the application process, your credit score remains unaffected since the lender conducts a soft inquiry. Borrowers are also entitled to unemployment protection, which allows them to modify payments if they lose their job during the repayment period.


    • Unemployment protection feature
    • Maximum limit of $100,000
    • 0.25% autopay discount
    • No origination, prepayment or hidden fees


    • Good-to-excellent credit rating required
    • $5,000 minimum loan amount

Best Personal Loan Lender for Debt Consolidation in Buffalo: 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

    Established in 2016, Upgrade offers eligible lenders a personal loan maximum of $50,000 and is MoneyGeek’s top selection for debt consolidation. Borrowers need a minimum credit score of 560 to qualify for a personal loan.

    Upgrade personal loans feature a relatively high APR. Additionally, borrowers pay up to 8% in origination fees. You can lower your rates by adding autopay to your account or making direct payments to your existing debt.

    Upgrade carries out a soft credit inquiry, which does not affect the customer’s credit score. However, the lender places various restrictions on the use of funds. For instance, borrowers cannot use the loan amount to cover postsecondary education expenses.


    • Fair credit score required
    • Quick funding
    • Fixed interest rate


    • 1.85%–8% origination fee
    • Low APR require autopay and direct payment of existing debt
    • Direct funds sent to creditors may take weeks to clear

Best Personal Loan Lender for Home Improvement in Buffalo: 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 ranked top in MoneyGeek’s review of the best personal loan lender in Buffalo for home improvement. The online credit provider was founded in 2013 by Marlette Holdings. It offers eligible applicants loans ranging from $2,000 to $50,000. After completing the application process, borrowers receive funds in one to three days with terms of three to five years.

    Aside from having one of the highest FICO score requirements of 700, Best Egg also charges origination fees of up to 8.99%. Borrowers can get significantly lower rates if they meet the minimum income requirement.

    Generally, Best Egg may not be ideal for individuals with poor credit scores and those who need more funding than the $50,000 limit.


    • Offers secured and unsecured personal loans
    • 0% introductory APR for the first six months
    • Low minimum loan amount of $2,000
    • No prepayment penalty


    • Up to 8.99% origination fee
    • 700 FICO score requirement
    • $100,000 minimum income for the lowest APR
    Best Egg

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

Personal loan lenders offer a great way to finance unexpected expenses, fund home renovations and consolidate existing debt. Some lenders, like LightStream and Upgrade, restrict your use of borrowed funds. The average personal loan debt in New York is $17,892.

To determine specific personal loan terms for each borrower, lenders often consider factors such as income level and credit score. Generally, MoneyGeek recommends taking the following steps while applying for a personal loan in Buffalo.

Ask Yourself the Important Questions

A personal loan has many benefits, including lower interest rates and predictable repayment periods. However, you need to have clear objectives for getting one and analyze your capacity to make monthly repayments. We suggest you ask yourself the following questions to establish whether a personal loan is the best option 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

Research the best personal loans in Buffalo to ensure you have accurate information about your preferred lenders and their offers. Some factors to examine include loan amounts, interest rates and associated fees. Depending on your profile, you may find several options at different terms. Remember personal loans are long-term commitments with repayment periods that span many years. One way to avoid getting a loan that does not suit your needs is by comparing rates and terms across the lenders.

Our guide outlines the essential details of the best lenders across multiple borrower profiles and can help you find the most suitable company for you. However, our estimates represent an average borrower, and conducting your research may help find a more suitable lender for your circumstances.


After gathering the information you need about the lenders, take a day or two to think through your preferred options before applying. Waiting a few days ensures you are not making this critical financial decision in a rush and allows you to be more objective when reviewing your choices. You will commit to monthly payments for at least two to four years, a tremendous disadvantage if you use the funds to finance an unnecessary expense.

Read the Fine Print

Learn the vital details of your personal loan, such as its fees and penalties. Examine the terms and conditions in the loan agreement’s fine print and raise any questions and concerns. For instance, some lenders charge a prepayment penalty and an origination or a processing fee. Knowing about these charges in advance will help you determine which loan best suits your budget.


After completing the necessary steps and ensuring you have selected the best available personal loan option for your profile, start assembling the required documents for your application. Most insurers will ask for copies of your identification documents and proof of income. You may apply exclusively online or visit the lender’s office in person. Ensure you provide correct details at each stage of the application process to avoid delays in disbursing your funds. Your insurer may deny you a loan because of missing or inaccurate information.

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

Lenders can refuse personal loan applications for numerous reasons, including your credit score, financial background or gaps in your application information. Ask the lender for specific feedback on why you were denied and determine whether you can take steps to remedy the situation. For instance, would it help to have a co-signer or lower the loan amount?

You may also consider other lenders but only do so if you have addressed issues like a low credit rating or high debt-to-income rating. Although you may need urgent cash, payday loans are not a good option since they feature shorter repayment periods and high-interest rates.

Frequently Asked Questions About Personal Loans in Buffalo

Several Buffalo lenders offer personal loans to residents at varying rates and repayment terms. To make the lender selection process easy for borrowers, MoneyGeek responded to the common questions about personal loans in the city.

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

Our Personal Loan Methodology


MoneyGeek used over 35 individual data points across six categories, including loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency, to rank 30+ personal loan lenders.

Each of the six categories comprises several individual data points with the strongest influence on the personal loan lenders’ scores. Such factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.

We also included customer support and business ratings, among other features, to ensure our valued consumers find an option that makes their experience easier and more accessible. Specific data points for these features include prequalification, payment options and mobile apps.

Ultimately, MoneyGeek determines its top picks using a thorough process with your best interests in mind. Use our recommendations and expert tips to find the best lender for your financial situation.

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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.