Top Lenders & Best Picks for You

Best Personal Loans in Cleveland, OH

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Reviewed byAshley Jacobs
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Reviewed byAshley Jacobs
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Updated: December 28, 2023

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MoneyGeek's Picks for Best Personal Loan Lenders in Cleveland, OH

MoneyGeek evaluated personal loan lenders in Cleveland based on more than 30 data points. We weighed their loan affordability and accessibility, APR ranges, terms, origination and late fees, disbursement time, customer service, BBB ratings and other features.

We also evaluated qualifying criteria, including minimum credit scores, gross income requirements, debt-to-income ratios and more.

The best overall personal loan lender in Cleveland for you will vary based on your unique consumer profile. MoneyGeek found the top options for different people, but you should still do your own research to ensure you choose the right option for your needs.

Best Overall Personal Loan Lender in Cleveland: Truist


Best Personal Loan Lender for Bad Credit in Cleveland: Upstart


Best Personal Loan Lender for Good Credit in Cleveland: SoFi


Best Personal Loan Lender for Debt Consolidation in Cleveland: Upgrade


Best Personal Loan Lender for Home Improvement in Cleveland: Best Egg


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

In Ohio, personal loan debt averages around $24,808. Home improvements, debt consolidation and paying medical bills are just a few common reasons why people in Ohio get a personal loan. Keep in mind that when you send your applications to a specific lender, your financial standing, including credit score, monthly income and debt-to-income ratio, will be reviewed.

To give you an idea of what your loan journey will look like, MoneyGeek outlines the steps you need to go through to choose the best lender for your needs.

Ask Yourself the Important Questions

Before choosing a lender and applying for a personal loan, you should ask yourself the following questions:

  1. How much funding do I need? Your requested loan amount can impact if your application is approved. Make sure to only ask for how much you really need.
  2. What is my credit score? Lenders look at credit scores to determine whether or not to approve your application. Know what your score is so that you can apply with companies that are more likely to approve your application.
  3. Can I afford the monthly payment? You’ll want to make sure you can make your monthly payments so that you don’t incur late fees or hurt your credit score.
  4. How much debt do I already have? Adding personal loans to your existing debts can be detrimental to your financial health. Make sure you aren’t overextending yourself financially.
Do Your Research

Thoroughly researching your options is an important step before applying for a loan, as it gives you an idea of the interest rates and loan amount available to you.

Taking out a personal loan is a big financial commitment. You will have to make monthly payments for two to four years on average, and some lenders may do a hard credit check which could affect your credit score. While we do our best to make suggestions for different types of borrowers, know that our recommendations are general and it may not capture your unique borrower needs. Doing your own research is key.


It can be overwhelming to review all the interest rates, fees and loan terms from several lenders. Waiting a day or two can be a good idea before making a decision. Even after you have done your research, take a step back to ensure getting a loan is the right choice for you. It is important to reassess your options before applying.

Read the Fine Print

It is common among borrowers to overlook certain details in their personal loan agreement. This is why you should thoroughly review the fine print before proceeding. Make sure to check the fees, including prepayment penalties, late fees and origination fees, that don’t make sense to you. Look out for interest rates, collateral requirements and other disclosures. Paying attention to these little details could save you more money in the long run.


Once you are fine with the terms of your loan and have all the information needed to apply, it’s time to submit the application. At this stage, you should already have the necessary documents, including employment verification, your address and more. Typically you can apply online. However, if available, it can be good to apply over the phone or in person so that any additional questions you have can be addressed immediately.

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

Lenders look at a lot of factors to determine your eligibility for a personal loan. If your application is rejected, you can contact the lender to see if there are adjustments you can make to get your application approved. Shortening the loan term or reducing the amount to borrow are just a few of the things you can adjust that can increase your chances.

In such cases where you can’t be approved for a standard personal loan, a co-borrower or a collateral-based loan are also worth considering. Another option is to find a different lender that may have a less rigorous qualification process. However, it’s important to fix whatever issues you encountered during your first application to ensure you don’t get rejected again.

After a rejection, many borrowers may consider payday loans. This type of loan comes with extremely high-interest rates. Even if you pay promptly, you are still liable for the balance amount and interest.

Frequently Asked Questions About Personal Loans in Cleveland

The best personal loan depends on your specific needs, credit and income profile as a borrower. Below are frequently asked questions about personal loans in Cleveland.

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

Our Personal Loan Methodology

MoneyGeek looked at 35+ unique data points from over 30 personal loan providers in six major categories, including loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

We analyzed numerous unique data points under each rating criteria that we consider hold the most weight when choosing a personal loan provider. APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time are all aspects to consider.

We also consider each lender's customer service, business ratings and other features like prequalification, payment alternatives and mobile apps that could make your experience easier and more accessible.

Here at MoneyGeek, we do a rigorous analysis and assessment of each lender. Our personal loan recommendations and professional advice are intended to assist you in selecting the right lender for your needs.

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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.