Best Personal Loans in Eugene, OR: Top Lenders & Best Picks for You

Banner image
Edited byMorgan Hull

Updated: December 28, 2023

Advertising & Editorial Disclosure


MoneyGeek's Picks for Best Personal Loan Lenders in Eugene, OR

MoneyGeek evaluated lenders for more than 30 data points to choose the best personal loan lender in Eugene. Based on our analysis, LightStream offers the best personal loans in Eugene due to its competitive rates, flexible repayment terms and fast disbursement time. Borrowers with good and bad credit may get the best rates from SoFi and Upstart, respectively. Lenders like Upgrade and Best Egg are worth considering if you need funding for debt consolidation or home renovation.

Best Overall Personal Loan Lender in Eugene: LightStream


Best Personal Loan Lender for Bad Credit in Eugene: Upstart


Best Personal Loan Lender for Good Credit in Eugene: SoFi


Best Personal Loan Lender for Debt Consolidation in Eugene: Upgrade


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


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

In Oregon, borrowers have an average of $17,066 in personal loans at an average interest rate of 9.84%. Lenders look at several factors to determine your eligibility and loan terms, including your credit score, current debt, income and debt-to-income ratio.

Borrowers in Eugene take out personal loans for various reasons, such as funding large expenses, consolidating debt and paying for home renovations. If you aren’t sure if a personal loan is right for you, we recommend taking the following steps to make the best decision for your situation:


Ask Yourself the Important Questions

Getting a personal loan is a huge financial decision. On average it takes between two and four years to repay a loan, so before comparing personal loans in your city, it’s important to have answers to the following questions:

  • How much funding do I need? It’s important to only borrow the loan amount that you need to avoid paying extra in interest or needing to take out a second loan. Accurately estimating your loan needs upfront can save you time and stress in the long run.
  • What is my credit score? Most lenders have a minimum credit score requirement when accepting loan applications. Knowing your credit score can help you identify which lenders you’ll qualify for a loan with.
  • Can I afford the monthly payment? One way to know if you can afford to pay the total amount of money you are borrowing is by calculating the monthly payments you are required to make.
  • How much debt do I already have? Ensure that you aren’t accumulating too much debt. Calculate your debt-to-income ratio, taking into account your new potential loan amount. Consider an alternative source of funding by reviewing the pros and cons of taking out a personal loan.

Do Your Research

To find the best lender for your needs, you can compare lenders for their APR ranges, disbursement period and credit score requirements. While MoneyGeek’s review is a great place to start, our findings were based on what’s best for a generic borrower profile, rather than your unique situation. Because of this, you should complete your own research, searching for features and coverages that are important to you.



After you’ve researched different lenders and chosen the best one for your situation, you should wait a few days before submitting an application. During this time, you can think about if your lender is the best option for you and search for other ways to obtain funding.


Read the Fine Print

Often, borrowers forget to read the fine print of their loan agreement before applying. MoneyGeek strongly recommends reading and understanding the terms of your agreement to avoid unexpected charges, like those for loan origination, late payment and early repayment. If any of the terms aren’t clear, you can ask your lender to clarify.



Lenders require that borrowers provide documents like proof of identification, address verification and proof of income. Because document requirements vary between lenders, you should contact yours directly to find out what exactly is required. Online-only lenders typically approve loans faster than when you visit a lender’s office and submit your documents.

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

It can be discouraging when you get denied for a personal loan. If your personal loan application is rejected, it’s important to contact the lender directly to find out why you weren’t approved. Sometimes, making simple modifications to your application, like reducing your loan amount, could lead to approval.

If your application is rejected because of a low credit score, we recommend waiting until you’ve improved your credit score before reapplying. This is because each time you submit a loan application, the lender completes a hard credit check which negatively impacts your credit score. You could always apply with a different lender that has a lower credit score requirement, but you still run the risk of getting rejected, further negatively impacting your credit score or receiving a high interest rate.

Besides personal loans, borrowers in need of funding may also consider home equity lines of credit, credit cards and other financial products available in Eugene. MoneyGeek cautions borrowers against resorting to payday loans, which come with high fees and unreasonable repayment terms.

Frequently Asked Questions About Personal Loans in Eugene

MoneyGeek answered the most frequently asked questions about personal loans to help borrowers in Eugene make the best financial decision.

LightStream is the best personal loan lender in Eugene for its competitive rates and flexible terms. However, other lenders like Sofi, Upgrade, Upstart and Best Egg may offer better loan terms depending on the borrower's profile and loan needs.

In Eugene, Upstart offers the lowest minimum APR.

Depending on your lender, you may be able to use your personal loan to fund a vacation. To find out if your lender has any restrictions on the usage of funds, you should contact them directly.

Yes, you can use a personal loan for home improvement in Eugene. In Eugene, Best Egg offers the best home renovation personal loan.

Some lenders have restrictions on the usage of funds. Typically, you can’t use a personal loan for investments, funding education or illegal activity.

The amount of money you can borrow in Eugene varies, but in general, borrowers can obtain between $1,000 and $100,000 depending on their credit score and eligibility.

After your application is approved, it can take one to three days to receive funding for your loan.

Borrowers have the option to pay off their loan earlier than the agreed date. However, some lenders may charge prepayment penalties, which are usually a percentage of your loan.

Our Personal Loan Methodology

To help you find the best lender for your needs, MoneyGeek reviewed over 30 personal loan lenders for more than 35 individual data points across key categories, including loan affordability, lender transparency, consumer friendliness, customer service and accessibility.

For the above categories, we chose individual data points that carry the most weight. These factors include available loan amount, APR ranges, minimum income and credit score requirement, application fees and disbursement period. In addition to these factors, we also highlighted unique features, such as payment options, mobile applications, prequalifications and more, which you may find useful when choosing a lender.

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.