What is the best personal loan lender in North Dakota?

MoneyGeek's choice for the overall best personal loan lender in North Dakota is LightStream. However, if you have an excellent credit score, SoFi provides the best deals. If you have a poor credit score, on the other hand, we recommend looking into Upstart. Meanwhile, Upgrade is a good option if you plan to use your borrowed money for consolidating debts and Best Egg offers our favorite loans for home improvements.

Which lender in North Dakota has the lowest interest rate?

Upstart offers the lowest interest rate in the state, with rates as low as 3.22%.

Can I use a personal loan for vacations in North Dakota?

Using a personal loan for vacations is usually allowed in North Dakota. However, make sure to check the fund usage restrictions with the lender you choose to ensure that it allows you to use your funds for this purpose.

Can I use a personal loan for home improvement in North Dakota?

Yes, your personal loan can usually be used for home improvement in this state. We recommend Best Egg, as long as you have good credit and $50,000 is enough to renovate your house.

What can I not use my personal loan for in North Dakota?

This will depend on the lender you choose. Some don’t impose restrictions on your loan usage, while many exclude activities like paying for college or buying stocks.

How much can I borrow in North Dakota?

Most personal loan lenders in North Dakota cap their loan amounts at $100,000 or less.

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

Again, this will depend on your lender’s policy. Some, like LightStream, may provide you with the money on the same day of approval. Meanwhile, other lenders like SoFi might take up to a week before you can get your loan.

Can I pay off my loan early in North Dakota?

Most lenders allow borrowers to pay off their personal loans early, but some charge prepayment penalties.

Top Lenders & Best Picks for You

Best Personal Loans in North Dakota

LightStream provides the best personal loans in North Dakota at a low-interest rate and with no origination fees or prepayment penalties. Plus, LightStream offers an autopay discount of 0.5% and same-day funding.

However, each borrower's financial situation and needs are different. For instance, SoFi and Upstart are the best options for good and bad credit borrowers, respectively. Best Egg is the best lender for home improvement, while Upgrade is the best for debt consolidation.

WHAT WE’RE GEEKING OUT ON

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

MoneyGeek’s Best Personal Loan Lender in North Dakota: LightStream

To find the best personal loans in North Dakota, MoneyGeek studied more than 30 data points for every different lender, comparing them against each other for a final tally on who is the best in various categories. These data points include ratings from the Better Business Bureau (BBB), loan amounts offered, interest rates, application requirements and more. We also took into account each lender’s accessibility to customers, freedom on the usage of funds and miscellaneous charges like late and origination fees.

Best Overall Personal Loan Lender in North Dakota: 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’s top choice for personal loans in North Dakota is LightStream. It is SunTrust Bank's online consumer lending business that was established in 2013. This personal loan provider is ideal for those seeking significant funds quickly. It offers up to a $100,000 loan with interest as low as 4.49% and a repayment period of two to seven years. It’s possible to receive the money on the same day of approval as well. Moreover, LightStream is rated A+ by the BBB and does not charge fees for late payments, prepayment or origination.
Even then, LightStream also has its negatives. It conducts a hard inquiry that can affect your credit score. It also restricts funding usage. Specifically, you can’t use it for college or post-secondary educational expenses, purchasing of stocks and bonds or for business-related purposes.
Overall, if you meet LightStream’s credit score requirement, this is our favorite personal loan lender for North Dakotans.
Pros
Low interest rate
No origination fee or prepayment penalty
0.5% autopay discount rate
Same-day loan funding
Wide range of repayment terms

Cons
Restrictions on fund usage
High minimum credit score of 660
Performs hard credit inquiries
Does not pay creditors directly for debt consolidation
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

Best Personal Loan Lender for Bad Credit in North Dakota: 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 started in 2012 in California and now provides personal loans in 48 states, including North Dakota.
MoneyGeek chose Upstart as the best personal loan lender for individuals with bad credit. This is because, even though it is highly rated by the Better Business Bureau and can provide the borrowed funds the next day, it only requires a minimum credit score of 300. It also only conducts a soft credit pull before the approval of the loan so your credit score won’t be affected by applying.
However, Upstart will only let you borrow up to $50,000. If you need more, you’ll have to look elsewhere. It also imposes up to a $15 late fee and as high as an 8% origination fee. In addition, its APR could reach as high as 35.99%.
Pros
Low minimum credit score requirement
Low minimum income requirement
Conducts soft credit inquiry
Funding the next day
No prepayment penalty

Cons
Debt-to-income limit of 45%
Up to 8% origination fee
Up to 35.99% interest rate
Charges late 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

Best Personal Loan Lender for Good Credit in North Dakota: 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
Since its founding in 2011, SoFi has offered various financial products, including personal loans in North Dakota. This company is an excellent option for personal loans, as long as you can meet its high minimum credit score of 680. It has a 0.3% autopay rate discount and you don’t have to worry about prepayment, origination or late fees.
The downside is that even customers with fair credit will find it hard to qualify with the lender’s strict credit score requirement, not to mention its minimum gross income requirement of $50,000. In addition, SoFi has a debt-to-income limit of 43%.
However, given its many positives, if you qualify for a SoFi personal loan, this is our favorite lender in North Dakota.
Pros
Up to $100,000 loans available
0.3% autopay discount rate
Conducts soft credit checks
No origination fees
No prepayment penalty

Cons
Minimum gross income requirement of $50,000
High credit score requirement
Debt-to-income limit of 43%
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

Best Loan Lender for Debt Consolidation in North Dakota: 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
For individuals seeking a personal loan for debt consolidation, we recommend Upgrade, which was founded in 2016. It offers to directly pay creditors for debt consolidation, which many competitors do not. Upgrade offers a 1% discount for automatic payments, which is one of the industry’s best rates for this discount. In addition, Upgrade has no income requirements and a reasonable credit score requirement.
However, if your debt is over $50,000, you may want to look into other lenders because Upgrade won’t lend you more than that. It also charges very high origination fees of up to 8% and doesn't allow the borrowed money to be used for post-secondary education, gambling or investments. Upgrade also has high interest rates around 35.47% for borrowers who aren’t supremely qualified.
Pros
Pays creditors directly for debt consolidation
1% autopay discount rate
No prepayment penalty
No minimum income requirement
Reasonable minimum credit score requirement

Cons
$50,000 loan limit
Up to 35.47% interest rate
Up to 8% origination fees
Has late fees
Many restrictions 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

Best Loan Lender for Home Improvement in North Dakota: 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
For those who are wanting to get a personal loan to fund home improvement, MoneyGeek recommends Best Egg. It started in 2014 and now serves personal loans in 47 states, including North Dakota.
While Best Egg requires good credit and a $50,000 minimum gross income, we still think it’s a good choice for those wanting to renovate their homes. While many competitors place restrictions on the usage of personal loan funds, Best Egg does not. In addition, it offers a 0.5% autopay discount and does not charge prepayment penalties.
That said, borrowers who cannot meet Best Egg’s high credit and income requirements will need to find a different lender. Also, Best Egg’s potentially high interest and origination fees may scare off some potential customers.
Pros
No restrictions on fund usage
No prepayment penalty
0.5% autopay discount
Conducts soft credit pull
Loans funded the next day

Cons
High credit score requirement
$50,000 minimum gross income requirement
Origination fees up to 6%
Interest rates up to 35.99%
Charges late fees
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

How To Choose The Best Personal Loan Lender In North Dakota For You

The average personal loan debt in North Dakota is around $15,869. When applying for a personal loan, a range of factors must be considered, from credit score to income and so on. Therefore, we made the following list to guide you in finding the best personal loans in North Dakota. Following these steps can help you choose the right lender for your needs.

Ask Yourself the Important Questions

To help you cover the basics of decision-making when it comes to getting a personal loan, ask yourself the following questions.

How much funding do you need? This will heavily depend on the purpose of your loan. Whether you’re planning to make a big purchase, pay for an emergency expense or go on a vacation, remember that there’s a limit to how much you can borrow from these lenders. You also wouldn’t want to overshoot, borrowing way more than you need and paying unnecessary interest.
What is your credit score? Your credit score plays a major role in whether or not certain lenders will accept your applications. Always look at the minimum credit score requirement of your chosen lender and see if you qualify.
Can you afford the monthly payment? Do not take monthly payments lightly, no matter how manageable they seem to be. Remember that you’re stuck repaying a personal loan for years.
How much debt do you already have? If you plan to get a personal loan to pay for your other debt (like credit cards), make sure that you won’t simply transfer yourself from one unmanageable situation to another.

Do Your Research

While we try our best to provide all the essential information, we cannot stress enough the significance of conducting independent research and comparing rates prior to applying for a loan. Because our suggestions might not be ideal for your present demands or particular profile, it's in your best interest to look into several options. Compare loans from several lenders before choosing one.

Wait

Waiting a day or two before making your decision is a good idea as well. Again, obtaining a personal loan is a big commitment, and you must be certain that it is the best decision for you. This is not to discourage you from taking a personal loan, but rather as a reminder of how crucial it is to make an educated and informed decision.

Read the Fine Print

When it comes to private loans, many individuals miss the small but crucial details. We recommend that once you've chosen a lender, you check into expenses such as prepayment penalties, origination fees and so on. Digging into the small details may save you a lot of money in the long run.

Apply

You can apply once you're satisfied with your chosen lender and have provided all of the details they need. During the application process, lenders will ask for identity, address verification and proof of income. Furthermore, while applying online may be more convenient for some, there's no harm in phoning or visiting the lender if you would rather.

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

It's not the end of the world if you’re turned down for a loan. It's usually due to a variety of factors, like a poor credit score paired with insufficient income. If your application is declined, you should phone or email the lender to find out why. Also, inquire as to whether you might make any changes to your application to make it more acceptable to them. This can involve things like reducing the loan amount or shortening the term.

If necessary, you may apply for a loan with another lender, but this should be avoided until you address the factors that led you to be refused in the first place. That's because you're likely to be rejected by other companies as well.

Also, a word of caution: while a payday loan may appear enticing if you need money immediately, it's rarely a good idea. Payday loans have many disadvantages, including sky-high interest rates and short payback terms.

Frequently Asked Questions About Personal Loans in North Dakota

There are many factors that determine which North Dakota personal loan lender is best for you. Here are the answers to some of the most frequently asked questions about personal loans in North Dakota.

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. 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 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.

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.