What is the best personal loan lender in Utah?

The best personal lender in Utah is LightStream. However, the best lender in Utah depends on your unique needs and financial profile.

Which lender in Utah has the lowest interest rate?

Upstart has the lowest interest rates in Utah. Its APR starts at 3.22%.

Can I use a personal loan for vacations in Utah?

Personal loans are versatile in their uses, although some lenders have restrictions. Vacations are typically not one of them, but it’s smart to check with your lender about any fund usage restrictions.

Can I use a personal loan for home improvement in Utah?

Yes. The best personal loan for home improvement in Utah is Best Egg. Its loan amount range is $2,000 to $50,000, and it has an APR range of 5.99% to 35.99%.

What can I not use my personal loan for in Utah?

Some lenders have restrictions on how their personal loans can be used. These restrictions may include illegal activities, funding college and post-secondary studies, paying off student loans, refinancing existing loans from the same lender, down payment on mortgages and more. It’s best to talk to your lender so you know what you can and cannot use your loan for.

How much can I borrow in Utah?

You can borrow up to $100,000 in personal loans. However, the maximum amount depends on the lender you are working with.

How long does it take to get a personal loan in Utah?

Lenders, such as LightStream, offer same-day funding as long as you finish the application process on a business banking day. On the other hand, lenders like SoFi can take up to a week.

Can I pay off my loan early in Utah?

Yes. However, you could be charged a prepayment penalty. Some lenders allow you to pay off loans early without prepayment fees.

Top Lenders & Best Picks for You

Best Personal Loans in Utah

MoneyGeek’s research shows that LightStream provides the best personal loans in Utah. It offers speedy processing times, accessible requirements and flexible loan terms.

Those with bad credit will get the best loan from Upstart, while borrowers with good credit will receive the best terms with SoFi. Upgrade is your ideal lender for debt consolidation, while Best Egg provides the top loans for home improvement projects.

WHAT WE’RE GEEKING OUT ON

The Best Overall Personal Loan Lender in Utah
The Best Personal Loan Lender for Bad Credit in Utah
The Best Personal Loan Lender for Good Credit in Utah
The Best Personal Loan Lender for Debt Consolidation in Utah
The Best Personal Loan Lender for Home Improvements in Utah
How to Choose the Right Personal Loan for You
What to Do if You Can’t Get a Debt Consolidation Loan in Utah
Calculate Your Monthly Payment
Frequently Asked Questions About Personal Loans in Utah

MoneyGeek’s Pick for Best Personal Loan Lender in Utah: LightStream

MoneyGeek evaluated over 30 factors to determine the best personal loan lenders in Utah. We evaluated several companies based on their BBB ratings, loan amount ranges, fees, accessibility and other factors to help you choose the right personal loans for your needs.

Beyond that, we also researched eligibility requirements to help you determine which companies you may qualify for a loan from. Based on this research, we identified lenders that are best for certain needs and financial profiles.

Best Overall Personal Loan Lender in Utah: 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
MoneyGeek recommends LightStream as the best overall personal loan company in Utah because it offers fast, convenient and accessible loans. LightStream offers a loan range of $5,000 to $100,000 with a minimum APR of 4.49%. It does not have a prepayment penalty, origination fees or late fees. To top it off, a borrower can receive their funds on the same day as long as the application process is completed during a business banking day.
Borrowers who would like to avoid fees and long processing times can benefit the most from a LightStream personal loan. However, those who have new or no credit may not qualify for a loan from this company.
LightStream is part of Truist Bank and was established in 2013.
Pros
A+ BBB rating
0.5% autopay discount
No prepayment or late fees
No employment requirements
Same-day funding available

Cons
Conducts hard credit inquiry
Restricts fund usage
Does not accept people with new or no credit
APR Range: 4.49%–20.49%
Minimum/maximum loan amount: $5,000–$100,000
Minimum credit requirements: 660
Repayment terms: 24–84 months
Time to receive funds: Same day
on LightStream Website

Best Personal Loan Lender for Bad Credit in Utah: 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 committed to providing affordable loans to those with bad credit. To be eligible for a loan from this lender, applicants must have a credit score of 300, a gross income of at least $12,000 and a debt-to-income ratio of less than 45%.
They can receive a maximum loan amount of $50,000 and a minimum interest rate of 3.22%. Depending on their credit, the interest rate can be as high as 35.99%. So, if you’re someone who is looking for a lower interest rate and a bigger loan, Upstart may not be the best lender for you.
Founded in 2012, Upstart is an online lending platform that uses artificial intelligence (AI) and a unique lending model. Because of this approach, they can offer affordable loans while minimizing the risks and costs of their partners.
Pros
A+ BBB rating
Low credit score requirement
Conducts a soft inquiry
No prepayment penalty
Funds are available quickly

Cons
No autopay discount
$15 late fee
Doesn’t allow co-signers
APR range: 3.22%–35.99%
Minimum/maximum loan amount: $1,000–$50,000
Minimum credit requirements: 300
Repayment terms: 36–60 months
Time to receive funds: Next day
on Upstart Website

Best Personal Loan Lender for Good Credit in Utah: 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
MoneyGeek recommends SoFi for people with decent credit and a steady salary. SoFi provides large loans without an origination fee, prepayment penalty or late fee. Applicants can borrow up to $100,000 with an interest rate as low as 5.74%.
The minimum credit score to be eligible for a loan from SoFi is 680, and applicants must earn a minimum of $50,000 in gross income. Your debt-to-income ratio should not exceed 43% as well.
SoFi also offers unemployment insurance in the event that the borrower loses their job while paying back the loan. Since its launch in 2011, SoFi has gained 3.5 million members and has funded $50 billion in loans.
Pros
A+ BBB rating
0.25% autopay discount
No late fees
Doesn’t charge prepayment fees
Conducts a soft inquiry

Cons
Minimum gross income requirement of $50,000
Doesn’t allow co-signers
APR range: 5.74%–20.28%
Minimum/maximum loan amount: $5,000–$100,000
Minimum credit requirements: 680
Repayment terms: 12–60 months
Time to receive funds: Two days
on SoFi Website

Best Personal Loan Lender for Debt Consolidation in Utah: 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
Lower interest rates, a better credit score and easier monthly payments are a few of the benefits of taking out a loan to pay off existing debts. Ultimately, using a personal loan for debt consolidation could help you save money.
Upgrade has special features for debt consolidation personal loans, making it our top recommendation for this category even though it only entered the market in 2017. When you get a loan from Upstart, it can directly pay the money to credit cards in the United States.
People who are working to improve their credit and want to simplify their debt payments can choose an Upgrade personal loan. However, this loan can mean additional costs in the form of fees. Upgrade does not charge a prepayment penalty, but it charges late fees. It also rejects applicants with bad credit or no credit.
Pros
A+ BBB rating
1% autopay discount
Conducts soft inquiry
No minimum gross income requirement
No prepayment penalty

Cons
Does not accept people with new or no credit
$10 late fee
Charges origination fees
APR range: 5.94%–35.47%
Minimum/maximum loan amount: $1,000–$50,000
Minimum credit requirements: 560
Repayment terms: 36–60 months
Time to receive funds: Same day
on Upgrade Website

Best Personal Loan Lender for Home Improvement in Utah: 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
When it’s time for home repairs and you're worried about your budget, Best Egg’s personal loan might be a good fit. Best Egg offers home improvement loans to people with a credit score of 700 and a minimum gross income of $50,000. It also has no debt-to-income ratio restrictions. The maximum APR can be on the expensive side, though, at a maximum of 35.99%.
Applicants can take out loans ranging from $2,000 to $50,000 with terms of three to five years. Additionally, if you want to pay off your loan early, you can do so without incurring any prepayment penalties.
Best Egg was launched in 2014. Its parent company is Marlette Funding, which was founded one year before Best Egg.
Pros
A+ BBB rating
0.5% autopay discount
No prepayment penalty
Conducts soft inquiry
Does not have debt-to-income limits

Cons
Doesn’t accept co-signers
Does not accept people with new or no credit
Has a minimum gross income requirement of $50,000
APR range: 4.99%–35.99%
Minimum/maximum loan amount: $2,000–$50,000
Minimum credit requirements: 700
Repayment terms: 36–60 months
Time to receive funds: Next day
on Best Egg Website

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

The average personal loan debt in Utah is $15,188, and people have a variety of reasons why they need to borrow money. It’s important to consider factors such as existing debts, employment, income and credit score when applying for a loan. MoneyGeek has identified steps you can take to ensure that a personal loan is right for you.

Ask Yourself the Important Questions

Before looking for a lender, you have to identify your needs and financial circumstances. The following are important questions to ask yourself:

How much funding do you need? - Evaluate how much money you need and if a personal loan is the best option to meet that need.
What is your credit score? - Having an understanding of your credit score can ensure you apply for a loan with a company that will accept your score.
Can you afford the monthly payment? - Take a look at your budget and make sure that a loan payment is something that will fit within your budget.
How much debt do you already have? - Make sure you aren’t taking on more debt than is ideal. If you already have a ton of debt, taking on more debt might not be a great choice.

Do Your Research

Each lender has its strengths and weaknesses. What might be good for home improvement may not work well for debt consolidation. More significantly, the loan that you like might not fit well with your current circumstances.

Doing your research helps you discover more loans and features that can work to your advantage. Remember that a personal loan is a huge commitment for two to four years. You can always turn to MoneyGeek for the necessary information to guide you in this process, but some of our recommendations may not be the perfect fit for you. As a result, it’s important for you to do your own research.

Wait

You might find yourself making better decisions when you wait and give yourself time to carefully consider your decision. A personal loan is a huge commitment, so you need to be absolutely sure of your decision. Consider taking two or three days to reflect before finalizing your decision. This way, once you have taken out the loan, you’ll have the assurance that you have made the right decision.

Read the Fine Print

Once you have chosen a lender, take a closer look at the fees, such as prepayment penalties, origination fees, late fees and more. By being fully aware of the fees, you can prepare your budget and prevent unexpected charges. Take note of the added conditions as well so that you will know if you can take advantage of special offers like autopay discounts. Following this step can lead to savings in the long run.

Apply

After completing your research and deciding on a lender, it’s time to apply for a loan. The application process will require identification, address verification and proof of income. Lenders also offer online, in-person or over-the-phone applications. Online applications are the most convenient option. If you’re more comfortable with in-person and over-the-phone applications, it’s best to check if the lender accommodates this.

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

If your loan has been denied by your lender, don’t worry. Loans can be denied due to insufficient income, employment status, existing debts or inaccuracies with your application. When this happens, consider contacting your lender to ask about the exact reason for the denial of your application.

Your lender may allow you to modify your application. These instances could require setting a lower loan amount or reducing the terms of your loan.

You may also apply with a different lender, but this option is not recommended. Using this option may lead to another denial, especially if you haven’t worked on the factor that caused the initial denial of your loan.

Payday loans could be appealing at first because of their fast release of funds. However, you might end up spending more money because of the high fees associated with these loans as well as the quick repayment terms.

Frequently Asked Questions About Personal Loans in Utah

The best personal loan company for you depends on your needs as well as income and credit factors. The following are commonly asked questions by residents seeking to take a personal loan in Utah.

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 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.