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Best Personal Loans in Lubbock, TX

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Updated: December 28, 2023

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MoneyGeek’s Pick for Best Personal Loan Lender in Lubbock, TX: Truist

MoneyGeek evaluated different lenders offering services in Lubbock by taking into consideration various factors, such as loan amount, repayment terms, interest rates, origination fee, credit score requirements, debt-to-income ratio and Better Business Bureau rating, among others.

Through this analysis, MoneyGeek found that the overall best personal loan lender in Lubbock is Truist. That said, the best lender for you may differ based on your specific circumstances. For instance, Upstart is the top option for borrowers with bad credit. Meanwhile, SoFi is the best lender for borrowers with good credit.

Best Overall Personal Loan Lender in Lubbock: Truist

  • Truist

    • 8.14% to 18.99%APR Range
    • NoneMinimum Credit Score
    • $3,500 to $50,000Loan Amount Range
    • 6 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    MoneyGeek’s analysis shows that Truist is the overall best option for people looking for personal loans in Lubbock. The company, which is the result of a 2019 merger involving BB&T Bank and SunTrust, does not have origination fees. It also does not charge late payment fees or prepayment penalties. Additionally, the lender can provide next-day funding.

    Truist has restrictions on fund usage. You cannot use the borrowed money to refinance an existing Truist loan, fund your college or post-secondary educational expenses, finance a business or purchase bonds, stocks or stock options.


    • Next-day funding
    • Auto-payment discount of 0.5%
    • No origination or late payment fees
    • No prepayment penalties
    • No minimum income requirement


    • Conducts hard credit inquiry
    • Not available to people with new or no credit
    • Has fund usage restrictions
    • No cosigners allowed
    • APR range: 8.14% to 18.99%
    • Minimum/maximum loan amount: $3,500 to $50,000
    • Minimum credit requirements: None
    • Repayment terms: Six to 60 months
    • Time to receive funds: Next day

Best Personal Loan Lender for Bad Credit in Lubbock: 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 is MoneyGeek’s pick for the best personal loan lender for individuals with bad credit scores in Lubbock. The lender was founded in 2012 and has been servicing 48 states since then. Even with a credit score of just 300, you can still qualify for Upstart’s personal loans.

    The company does not charge prepayment penalties, and it does a soft credit inquiry first, so your credit report will not be affected. A hard inquiry will only be conducted once you accept the rate and push through with your loan application.

    Depending on your loan, you can get a 0% origination fee. That said, some borrowers may be charged up to 8% for an origination fee, and Upstart’s interest rates reach a very high 35.99% for some borrowers. Late payments will lead to a $15 late fee. Additionally, your debt-to-income ratio must be 45% or less.


    • Low minimum credit score requirement
    • Low minimum income requirement
    • Conducts soft credit inquiry
    • Next day funding
    • No prepayment penalty


    • Debt-to-income limit of 45%
    • Up to 8% origination fee
    • Up to 35.99% interest rate
    • Charges late fees
    • APR range: 3.22% to 35.99%
    • Minimum/maximum loan amount: $1,000–$50,000
    • Minimum credit requirements: 300
    • Repayment terms: 36 to 60 months
    • Time to receive funds: Next day

Best Personal Loan Lender for Good Credit in Lubbock: 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

    If you have a good credit score, SoFi may be your best option for personal loans in Lubbock. The company started in 2011 and has been offering different financial products, including personal loans, since then.

    If you are in need of a large loan amount, SoFi offers up to $100,000. There are no origination fees involved. You also do not have to worry about prepayment penalties or late fees. SoFi conducts a soft credit inquiry, which will not have any effect on your credit score. The lender can offer funding within two days for some borrowers.

    That said, funding can also take up to seven days. SoFi’s personal loans also require a minimum credit score of 680. If your gross income is below $50,000 or your debt-to-income ratio exceeds 43%, you will not qualify for a loan from this lender.


    • Up to $100,000 loans available
    • 0.3% autopayment discount rate
    • Conducts soft credit checks
    • No origination fees
    • No prepayment penalty


    • Minimum gross income requirement of $50,000
    • High credit score requirement
    • Debt-to-income limit of 43%
    • APR range: 5.74% to 20.28%
    • Minimum/maximum loan amount: $5,000–$100,000
    • Minimum credit requirements: 680
    • Repayment terms: 12 to 60 months
    • Time to receive funds: Two days

Best Personal Loan Lender for Debt Consolidation in Lubbock: 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

    Borrowers may also use personal loans to consolidate their debts. For this purpose, MoneyGeek found Upgrade to be the best option. This neobank, founded in 2016, offers personal loans in all states.

    To qualify for a loan, you need at least a 560 credit score. The company offers loan amounts ranging from $1,000–$50,000. You can get funding on the same day. If you choose to make automatic payments, you can get a 1% discount.

    That said, Upgrade requires a 2.9%–8% origination fee, and late payments lead to a $10 fee. There are also restrictions on how you can use the money you borrow. You cannot use Upgrade personal loans for post-secondary education, investments, illegal activities or gambling of any kind.


    • Pays creditors directly for debt consolidation
    • 1% autopayment discount rate
    • No prepayment penalty
    • No minimum income requirement
    • Reasonable minimum credit score requirement


    • $50,000 loan limit
    • Up to 35.97% 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 to 60 months
    • Time to receive funds: Same day

Best Personal Loan Lender for Home Improvement in Lubbock: 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

    MoneyGeek’s study found Best Egg to be the company with the best personal loans in Lubbock for home improvements. This lender was launched in 2014 by Marlette Funding. It offers loans in 47 states, including Texas.

    If you have a credit score of at least 700, you can get a loan amount of $2,000–$50,000. Funding can be processed within the next day. Borrowers who make automatic repayments can enjoy a 0.5% discount. The company offers online prequalification as well. The lender will only do a soft credit inquiry first, which means the credit score check will not affect your credit report.

    Best Egg’s qualification requirements include a minimum gross income of $50,000. There is an origination fee, which ranges from 1% to 6%. It has a maximum loan amount of $50,000, so you may want to search for other lenders if you are in need of a larger amount.


    • No restrictions on fund usage
    • No prepayment penalty
    • 0.5% autopayment discount
    • Conducts soft credit pull
    • Loans funded next day


    • 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% to 35.99%
    • Minimum/maximum loan amount: $2,000–$50,000
    • Minimum credit requirements: 700
    • Repayment terms: 36 to 60 months
    • Time to receive funds: Next day
    Best Egg

How to Choose the Best Personal Loan Lender In Lubbock for You

On average, personal loan debt in Texas is $15,505. Taking out a personal loan can be helpful, especially for financing emergencies and large expenses. However, it is important to remember that a personal loan is a commitment. You need to evaluate your needs and financial situation first to ensure that you are choosing the best option.

MoneyGeek recommends studying the following step-by-step guide to help you find the best personal loans in Lubbock.

Ask Yourself the Important Questions

There are various factors you need to consider before applying for a personal loan. Start with your current financial situation and determine whether a loan is the best option for you. If there is another way to cover the expenses, consider that first.

If it will be difficult for you to pay the monthly bills on a personal loan for any reason, then reconsider your decision, especially if you have existing debts. Lenders also have different loan qualification requirements, such as gross income and credit scores. Check if you meet these. It would also help to ask yourself the following questions:

  • How much funding do I need?
  • What is my credit score?
  • Can I afford the monthly payment?
  • How much debt do I already have?
Do Your Research

Lenders have varying requirements and criteria. Knowing these can help you find a lender that is suitable for your situation and needs. Research the terms, conditions, rates and fees for each company. Study their application process. Some companies conduct hard credit inquiries, which could have an impact on your credit score.

Shop around and compare rates from different lenders. This is important since you will be paying back the loan for an average of two to four years.

MoneyGeek researched and evaluated the best personal loans in Lubbock to help you decide. However, exploring all other options is still the best way for you to find the right loan and lender.


After comparing lenders based on offers, rates, fees and processes, wait for a day or two. Use this time to rethink your decision. Taking out a personal loan is a big commitment, so make sure that it really is the best solution for you.

Consider all your financial obligations and review the information you have gathered. Then, determine which lender is best for your needs.

Read the Fine Print

If you are sure about taking out a personal loan, your next step is to read the fine print. Look at all the associated rates and fees before pushing through with the application. You can find these details in the loan agreement. You should also ask the lender about all costs, including upfront and hidden fees. These may come in the form of origination fees, prepayment penalties and late payment fees.

Understanding the fine print is of utmost importance. What may seem a small detail may turn into a big deal. Reading thoroughly may help you save money in the long run.


The last step you need to take after deciding to take out a personal loan in Lubbock is to proceed with the application. Choose the lender you think is best for you. At this point, you should be able to provide the necessary information and documents for the application.

Requirements may vary per lender. In most cases, you will need to provide personal identification, proof of income, employment details and address verification. The submission of the application may also differ. Typically, lenders accept both online and in-person applications.

Applying online is the easiest and most convenient option. However, it would not hurt to call or visit the lender if available. This way, you can personally clarify your concerns.

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

There are qualification requirements you need to meet when applying for a personal loan. Some borrowers get denied for various reasons, such as bad credit scores, low income, unstable employment, high debt-to-income ratio or incomplete paperwork.

If this happens to you, the first thing you can do is to call or email the lender. Find out why your application was denied. Ask them if there are certain steps you can take to modify your loan application and make it acceptable to them. For instance, you may have to shorten the loan terms or borrow a smaller amount of money.

You also have the option to apply for a personal loan from another company. However, it is best to avoid this choice until you improve the factor that led to your loan application being denied in the first place.

There are also other financial arrangements available. However, MoneyGeek advises against those that offer easy approval, such as payday loans. These types of loans may be appealing due to their fast approval, but they tend to have very high interest rates and quick payback periods.

Frequently Asked Questions About Personal Loans in Lubbock

Generally, the best personal loans in Lubbock vary per borrower. Consider your personal needs and circumstances. Lenders will evaluate your credit and income factors, among other things. MoneyGeek answers some of the most frequently asked questions about personal loans to help you make a well-informed decision.

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

Our Personal Loan 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 determined 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.

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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.