Best Personal Loans in Norfolk, VA: Top Lenders & Best Picks for You

Updated: December 28, 2023

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MoneyGeek's Picks for Best Personal Loan Lenders in Norfolk, VA

MoneyGeek selected the lenders offering the best personal loans in Norfolk after analyzing their APR ranges, loan amounts, credit score requirements, funds disbursement time, repayment terms and various essential factors. This guide can help you choose the ideal lenders for your needs.

We found that Truist is the best overall lender for borrowers in Norfolk. However, Upstart’s loans will suit you best if you have a bad credit score. Borrowers with a good credit history will find SoFi to be an ideal option. If you’re looking for a loan for debt consolidation or home improvements, Upgrade and Best Egg are the best options, respectively.

Best Overall Personal Loan Lender in Norfolk: 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 of different lenders in Norfolk shows Truist offers the best personal loans in the city. SunTrust and Branch Banking and Trust merged in 2019 to form Truist. The lender offers customers credit cards, checking and savings accounts, mortgages and other financial products.

    Truist provides two personal loan products: its primary personal loan and the Ready Now loan. The primary personal loan helps you cover significant expenses and lets you borrow up to $50,000. On the other hand, the Ready Now loan maximum is $1,000 and is best for covering smaller expenses like car repairs, utility bills, plumbing and more.


    • No minimum credit score requirement
    • No prepayment or origination fees
    • Provides faster loan approvals
    • Offers payment relief if you’re facing financial difficulties


    • Conducts hard credit inquiry that affects credit score
    • No co-signers allowed
    • Restricts fund use

Best Personal Loan Lender for Bad Credit in Norfolk: 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

    If you want a personal loan but have a bad credit score, consider applying with Upstart. This company analyzes various factors to determine if you can pay the loan back comfortably. It looks at your employment history, educational background and income details. Upstart makes it easy for borrowers with bad credit to qualify for a loan.

    The lender first conducts a soft credit check that doesn’t affect your credit score. Once it approves your loan, you can receive the funds as soon as the next business day. Upstart doesn’t charge a prepayment penalty, making it attractive to pay off your loan early.


    • No prepayment penalty
    • Accepts people with limited credit history
    • Flexible loan amounts
    • Performs soft credit inquiry that doesn’t affect credit score


    • Late payment fees
    • Limited loan repayment terms
    • No autopay discount
    • Charges origination fees
    • No co-signers allowed

Best Personal Loan Lender for Good Credit in Norfolk: 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 analyzed different lenders and found that SoFi offers the best personal loans for borrowers with good credit scores. It was launched in 2011 and began offering personal loans in 2015. In addition to personal loans, the lender offers student loan refinancing, mortgages, auto loan refinancing and other financial products.

    SoFi doesn’t charge borrowers any prepayment, origination or late payment fees. It also offers a discount for setting up automatic payments. The lender provides a high maximum loan amount, making it a suitable option for borrowers looking to fund expensive purchases.


    • No prepayment, origination or late payment fees
    • Provides an autopay discount
    • Comes with unemployment protection
    • High maximum loan amount


    • No co-signers allowed
    • Loan approval takes longer if you apply with a co-applicant

Best Personal Loan Lender for Debt Consolidation in Norfolk: 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

    Upgrade is the best provider of personal loans for those seeking to consolidate high-interest debt and lower their monthly payments. It offers direct payment to creditors in case of debt consolidation. Besides debt consolidation loans, the lender provides credit cards and rewards checking accounts.

    Upgrade permits joint loans, making it easier for borrowers with bad credit to qualify for a loan. When you apply for a loan, the lender conducts a soft credit check that doesn't affect your credit score. It doesn't charge prepayment fees if you repay your loan early.


    • Allows joint applications
    • No prepayment fees
    • Autopay discount available
    • Performs soft credit inquiry first
    • Pays creditors directly


    • Charges origination and late payment fees
    • No co-signers allowed
    • Requires high credit score

Best Personal Loan Lender for Home Improvement in Norfolk: 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

    If you need funds to finance home improvement expenses, we recommend a Best Egg personal loan. Best Egg loans can help you pay for garage door replacement, window replacements, kitchen remodeling and more.

    Best Egg’s minimum loan amount is $2,000, which makes it the ideal lender for covering smaller expenses. The lender provides an interest rate discount to borrowers who set up automatic payments. Best Egg won’t charge you a prepayment penalty if you decide to pay off your loan early.

    However, the lender has a very high maximum APR. If you have a good credit history, you may want to opt for a lender with a lower rate.


    • Autopay discount available
    • Doesn’t charge a prepayment penalty
    • A+ Better Business Bureau rating
    • Conducts soft credit inquiry first
    • $2,000 minimum loan amount


    • Origination fees
    • Late payment fees
    • Requires high credit score
    • High APR
    Best Egg

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

Based on MoneyGeek’s analysis, Norfolk borrowers should consider their credit score, previous debts, current income and financial situation before applying for a loan. Knowing this information will help you choose a suitable lender.

We recommend taking the following steps to choose the ideal lender based on your financial needs and situation.

Ask Yourself the Important Questions

Evaluate your current financial situation and determine how much money you need to borrow. Ask yourself the following questions before you start looking for a lender.

  • 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

Once you understand your financial needs, research lenders that offer personal loans in Norfolk. Compare their rates and other fees. Although MoneyGeek’s guide on personal loans can help you, we recommend conducting your own research to ensure you find the best option based on your situation.


When you believe you’ve found the perfect lender, wait a few days before applying for a loan. Think about your choice and consider if any other option will suit you better. You may also explore different ways to meet your financial needs.

Read the Fine Print

Before applying, MoneyGeek recommends going through the lender’s fine print to know the necessary information about its fees. Understand whether the lender charges origination, late payment or prepayment fees. A personal loan is a long-term commitment, and you don’t want surprises along the way.


When you apply, the lender will ask for your identification, address, income and other information. Depending on the lender you can usually apply online, by phone or in person.

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

Lenders can deny your application for many reasons, including a low credit score, unstable employment history, high debt-to-income ratio and an incomplete application. If you are denied, ask the lender why and whether you can do anything to remedy the situation. For instance, you may consider decreasing the loan amount or payment terms.

Although applying with a different lender is tempting, avoid doing so until you fix the issue that caused the initial rejection. You can try to improve your debt-to-income ratio or credit score.

You may be tempted to take out a payday loan. MoneyGeek strongly advises against this, as payday loans have very high APRs and short repayment terms. If you don’t pay such loans on time, you will accumulate a lot of debt.

Frequently Asked Questions About Personal Loans in Norfolk

The lender offering the best personal loans in Norfolk will depend on your financial needs and profile. MoneyGeek answered frequently asked questions to help you find the right lender for your situation.

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

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, we select our picks with your best interests 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.