MoneyGeek’s Best Personal Loan Lender in Rhode Island: LightStream

To evaluate lenders, MoneyGeek weighed over 30 factors, including loan size, payback periods and interest rates, to find the best personal loan in Rhode Island. We looked into items like minimum credit score, gross income and age restrictions to determine how these could affect your approval prospects.

MoneyGeek also considered elements that provide customers with convenience when applying. Some lenders need you to do so in person, while others allow you to do so online, while some even have their own smartphone apps to assist you.

Best Overall Personal Loan Lender in Rhode Island: 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


Best Personal Loan Lender for Bad Credit in Rhode Island: 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


Best Personal Loan Lender for Good Credit in Rhode Island: 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


Best Loan Lender for Debt Consolidation in Rhode Island: 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


Best Loan Lender for Home Improvement in Rhode Island: 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

How to Choose the Best Personal Loan Lender in Rhode Island for You

Rhode Island has an average personal loan debt of $14,599. Residents deal with multiple variables that influence the approval of their personal loan applications. Underwriting standards vary by lender, but they often include information from an applicant's credit record as well as other elements that reflect the ability to repay the loan.

As you start applying for a personal loan in Rhode Island, MoneyGeek lists the steps you should follow.


Ask Yourself the Important Questions

Before determining which lender’s qualification requirements you meet, you must consider whether a personal loan is good for you. Ask yourself these questions:

  • How much money do I need? Think about how much money you need and determine if the lender you are considering offers loans in that amount.
  • What is the status of my credit? What is my credit score? All lenders check your credit score before approving your application. Make sure you meet their qualifications.
  • Is it possible for me to make the monthly payment? You'll be charged late penalties and your credit score will suffer if you can't make payments. Take note that you have to commit to monthly payments for two to four years.
  • Do I have any outstanding debts? If you're already paying off other obligations, adding another loan to your list might not be the best idea.

Do Your Research

MoneyGeek keeps you up to date on current trends and recommends the best lenders for a variety of needs. However, it is still vital to do your own research before applying for a loan. While your case is unique, our research may be able to help you start your research and acquire the best personal loan in Rhode Island.

Make a point of researching topics that will have a long-term impact on you. You can also compare rates from several lenders to find which one offers the best deal for your particular needs. Some lenders place limitations on how you may use your loan, so make sure that you can use the funds for what you need them for.



A personal loan application requires careful consideration. Don't do anything unless you're sure you'll be able to handle all of the responsibilities that come with it. Take a breather and reflect once you've gathered all of the facts you'll need to make a decision. Also, take the time to evaluate if there are other ways to meet your financial needs instead of a loan.


Read the Fine Print

When entering into any agreement, it is critical to read and understand the fine print. Now that you’ve narrowed down your lender choices, it's time to study the fine print.

Concentrate on the tiny details when examining loans that you intend to apply for, as they may either help you save money or cause you to pay more. Costs to consider include early payoff fees, prepayment penalties and origination fees. They may appear to be minor fees, but they can add up to big costs (or potential savings) in the long run.



After you've completed these steps, you will move on to the most important aspect of the process of applying for a personal loan in Rhode Island. You can apply for your loan online, but if you prefer to call or visit their office, there is no harm in doing so, provided those are options your lender offers. You will be required to provide particular documents and information during the application process. Lenders typically want identification, evidence of residency and proof of income.

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

Personal loans are declined in Rhode Island for a variety of reasons, including credit score issues and income concerns. Keep in mind that being turned down for a personal loan does not mean the end of the road in your loan journey.

The most common reasons for loan denial are poor credit scores, insufficient income, excessive debt-to-income ratios and missing loan application information. It is important to examine the situation if you've been denied a loan. MoneyGeek recommends contacting your lender to find out why your loan was denied and inquiring if there is anything you can do to modify the terms of your loan. For instance, you could decrease the payback period or lower the loan amount.

If you either cannot persuade them to change their decision or if you urgently need the money, you might look for a loan from another company. However, it is beneficial to focus on improving your application by utilizing the information offered by your lender.

Also, payday loans should be avoided. While a payday loan might help you get cash quickly, the interest rate is rather high and the repayment period is short.

Frequently Asked Questions About Personal Loans in Rhode Island

You might have more questions about personal loans. Fortunately, MoneyGeek can provide you with answers to these frequently asked questions about personal loans in Rhode Island.

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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 decided and 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.