Best Personal Loans in Oregon for 2024

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Reviewed byAlvin Yam, CFP
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Reviewed byAlvin Yam, CFP
Edited byJlyne Ubina
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Updated: April 24, 2024

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MoneyGeek ranks First Tech as the top lender in Oregon with a score of 98, noted for its superior customer service and transparent fees. Similarly, PenFed scores a 96 for its flexible loan terms and excellent customer support. When seeking a personal loan, it's important to consider your credit score and debt-to-income ratio, as these factors affect your loan terms.

Oregon's average credit score is 732, according to Experian data from 2023, indicating that the average borrower may find favorable loan options due to their good credit. However, this isn't guaranteed, and those with lower scores might face higher interest rates.

MoneyGeek's analysis included lender reputation, APR ranges and required credit scores to find trustworthy options that meet a variety of financial needs. Our recommendations aim to guide you through securing a loan tailored to your situation.


    Best Overall Personal Loan Lender

  • First Tech

    • 98MoneyGeek Score
    • 8.94% to 18.00%APR Range
    • UndisclosedMinimum Credit Score
    • $500 to $50,000Loan Amount Range
    • 6 to 84 monthsRepayment Terms

    MoneyGeek's pick for the best personal loan lender in Oregon is First Tech, scoring 98 out of 100. The lender stands out with its competitive APR range of 8.94% to 18.00%, which is lower compared to many competitors’ higher rates. It offers repayment terms from six to 84 months, granting flexibility to borrowers. First Tech shines in customer service and resources and also in offering attractive interest rates and fees, making it an advantageous option for personal loans.


    • Insured by the National Credit Union Administration (NCUA)
    • Provides granular APR data for a variety of loan terms
    • Balanced, low APRs


    • Need to be a member to apply
    First Tech

    Runner-Up Best Personal Loan Lender

  • PenFed

    • 96MoneyGeek Score
    • 7.99% to 17.99%APR Range
    • UndisclosedMinimum Credit Score
    • Up to $50,000Loan Amount Range
    • Up to 60 monthsRepayment Terms

    PenFed Credit Union is MoneyGeek's second-best pick for personal loans in Oregon with a MoneyGeek score of 96 out of 100. PenFed's APR range is 7.99% to 17.99%, which is notably competitive, dipping below averages at the lower end, especially compared to lenders with higher maximum rates. Repayment terms are flexible, going up to 60 months; although not the longest, it accommodates varied loan durations. PenFed excels particularly in its attention to transparent operations and consumer reputation, alongside competitive interest rates and fees, contributing greatly to its high overall evaluation.


    • Offers some of the lowest APRs available
    • No application or origination fee
    • Insured by the National Credit Union Administration (NCUA)


    • $50 minimum monthly loan payment
    • No information provided about credit score requirements
    • Offers some of the lowest APRs available
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The amount of monthly debt payments you have relative to your monthly gross income is called your debt-to-income ratio or DTI.

Most lenders prefer to see a debt-to-income ratio of 35-40% or below for secured loans, and 40-45% or below for unsecured personal loans. Debt includes items like mortgages, car loans, credit cards, and existing personal loans. A debt-to-income ratio above 50% is considered high and so approval may be more difficult, or your loan may come with higher interest rates. — Alvin Yam, CFP®


Calculate Your Monthly Oregon Loan Payment

According to our analysis, lenders in Oregon offer personal loan products averaging about 52 months. Explore your loan options with our personal loan calculator, a simple tool to calculate monthly payments and total loan costs based on amount, interest rate and term length, helping you make informed decisions before committing.


    Best Personal Loan Lender for Bad Credit

  • Happy Money

    • 94MoneyGeek Score
    • 11.72% to 17.99%APR Range
    • 640Minimum Credit Score
    • $5,000 to $40,000Loan Amount Range
    • 24 to 60 monthsRepayment Terms

    Happy Money is MoneyGeek's pick for the best personal loan provider in Oregon for those with low credit. Though not a lender itself, it facilitates loans with competitive rates and is one of the few to disclose minimum credit scores. With a MoneyGeek score of 94 out of 100, the APR range of 11.72% to 17.99% is favorable, considering the average rates for lower credit tiers. Happy Money requires a minimum credit score of 640. It stands out for being exceptionally transparent with customers and simplifying the application process, making it accessible and accommodating for borrowers.


    • Works with 10 federally insured lenders to originate all loans
    • Transparent eligibility requirements, including credit score minimum
    • No application fee


    • Longer time to wait for loan approval compared to other lenders analyzed
    • Charges an origination fee
    Happy Money

    Best Personal Loan Lender for Debt Consolidation

  • Alliant Credit Union

    • 96MoneyGeek Score
    • 10.99% to 13.99%APR Range
    • UndisclosedMinimum Credit Score
    • $1,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms

    Alliant Credit Union is MoneyGeek's pick for the best option in Oregon for borrowers seeking to consolidate debt, with a MoneyGeek Score of 96 out of 100. Alliant requires membership and 90 days of good standing to be eligible for a personal loan. The APR range of Alliant's loan products is 10.99% to 13.99%, which is competitive when compared to other lenders' rates analyzed by MoneyGeek. Alliant notably excels in providing upfront information to consumers and offering some of the best rates available on the market.


    • Among the highest loan limits available in our analysis
    • Insured by the National Credit Union Administration (NCUA)
    • No prepayment penalties


    • An online-only credit union, no physical branches
    • Have to be a member for 90 days to apply
    Alliant Credit Union
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Interest on personal loans is generally not tax deductible as personal loans are considered consumer debt. But there are some exceptions where the interest may qualify:

  • When consolidating high-interest qualifying debts like credit cards or student loans, if used to pay off those debts.
  • If used for home improvements that increase the home's value.
  • If the loan proceeds can be demonstrated as used exclusively for business expenses or starting a business.
  • In some cases, if the loan is used for investment purposes related to income-generating assets.

Alvin Yam, CFP®

The Impact of Credit Score on Loan Repayment in Oregon

When shopping for a personal loan in Oregon, it's important to be aware of your creditworthiness, which lenders evaluate based on your credit score, credit history and debt-to-income ratio. MoneyGeek's assessment of the best personal loan providers in Oregon considers factors like the lenders' reputation and transparency, APR ranges that reflect borrowing costs, minimum credit scores required by lenders and loan term flexibility to cater to various financial situations.

Your credit score significantly influences the loan terms you're offered, with higher scores typically leading to more favorable APRs, so it may be beneficial to take steps to improve your score before applying. The table below will help you understand how your credit score affects monthly loan payments.

Data filtered by:Results filtered by:
Credit Band:
Credit Band:690 to 719
Loan Amount:
Loan Amount:$2,000

This table offers an approximation of monthly payments, calculated using median personal loan interest rates typical for various credit score ranges. Please remember that these numbers are median estimates, provided for general guidance. They should not be taken as precise rates for everyone in each credit score category. Actual interest rates can differ due to lender-specific policies, prevailing market conditions and unique borrower profiles.

Understanding Personal Loans: Pros and Cons

Personal loans offer the flexibility to manage finances by consolidating high-interest debts into a single, lower-interest payment, as well as providing quick access to funds for a variety of needs without stringent spending restrictions. Each loan option comes with considerations like reputation, APR ranges, credit score requirements and term flexibility that will impact your decision. However, while personal loans can be advantageous, one must be aware of potential pitfalls, such as origination fees and the risk of asset loss with secured loans. For a detailed look, consider the pros and cons of personal loans.


Frequently Asked Questions About Oregon Personal Loans

If you have questions about personal loans, MoneyGeek has answers to help you make an informed decision before applying.

Who is the best lender in Oregon for personal loans?
Where is the best place to get a personal loan in Oregon?
Who has the best personal loan interest rates in Oregon?
What can I use a personal loan for in Oregon?
What are some personal loan red flags to look out for?
Do lenders consider income level when applying for a personal loan?
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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.