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

A personal loan can be a wise option when you need additional finances. To assist you in identifying the best personal loan in Richmond, MoneyGeek looked at more than 30 companies and considered a variety of variables, such as loan amounts, interest rates and repayment terms. Your income, credit score and employment status are factors that may influence your loan approval.

MoneyGeek also reviewed some consumer-friendly benefits these lenders provide to help you manage transactions, including easy application procedures, online application options and smartphone apps.

Best Overall Personal Loan Lender in Richmond: 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


Best Personal Loan Lender for Bad Credit in Richmond: 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 Richmond: 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 Personal Loan Lender for Debt Consolidation in Richmond: 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 Personal Loan Lender for Home Improvement in Richmond: 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

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

Before submitting an application for a personal loan in Richmond, consider all your options by evaluating the companies' loans and terms, borrowing costs and other expenses. For instance, knowing that Virginians owe $17,503 on average for personal loans can be an important consideration.

Before completing an application for a personal loan in Richmond, MoneyGeek outlines a few factors to keep in mind.


Ask Yourself the Important Questions

Thoroughly assess your financial demands before applying. Spend some time considering the following questions:

  • How much funding do I need? The amount you require will impact several factors, including the repayment schedule and the turnaround time for your loan to be funded.
  • What is my credit score? Knowing your credit score beforehand will help you determine which lenders are likely to approve you, as most lenders have established credit score standards.
  • Can I afford the monthly bill? Personal loans are long-term obligations with monthly payments. Make sure you can afford the monthly installments to avoid paying hefty interest and penalty fees.
  • How much debt do I already have? Ensure your debt-to-income ratio is not excessively high because loan repayments will reduce your income.

Do Your Research

A personal loan is a long-term commitment, so always conduct your own study about rates and other costs. The information we provide in this guide can help you get started. Compare rates and terms from many lenders because the ideal lender for you will depend on your unique profile.



Once you've done your research, take some time to think things over. Consider your choices before deciding whether or not taking out a personal loan is the best course of action for you.


Read the Fine Print

When applying for a personal loan, be aware of all the costs, rates and penalties that may be involved. Over time, late payment fees and other costs might add up, increasing the amount of your personal loan beyond what you first anticipated. Check the fine print, and if any rates or fees are unclear, ask the lender for clarification.



Apply for a personal loan if you are convinced you have chosen the best provider. You will need to present a form of identification, address and other details and documentation, such as your income tax return. Although some lenders offer an online application process, others may ask you to call or apply in person. Always feel free to contact the lender with any questions.

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

If you don't satisfy the minimum requirements, such as credit score or gross income, your application for a personal loan in Richmond may be rejected. Contact the lender to find out why it rejected your loan application so you can determine what to do next.

For instance, you might need to raise your creditworthiness to be eligible for a loan in the future. Deciding to borrow less may also help your chances of approval.

If you are rejected, don’t be tempted by payday loans. They frequently feature high interest rates and few repayment options and can sink you further into debt.

Frequently Asked Questions About Personal Loans in Richmond

Your financial goals remain the most important consideration when choosing a lender. To help you decide, MoneyGeek has answered frequently asked questions concerning personal loans in Richmond.

Our Personal Loan Methodology


MoneyGeek assessed more than 30 personal loan providers using over 35 unique data points in six essential categories — loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Under each ranking criterion, we considered different data points we believe are crucial when choosing a personal loan lender, such as APR ranges, maximum loan amounts, necessary credit scores, required minimum income, application fees and disbursement periods.

At MoneyGeek, we value you as a customer. We consider the customer service, convenience, business ratings and other features each lender offers, like prequalification, alternative payment methods and mobile apps.

After careful consideration and computation, we make our decisions keeping your best interests in mind. We hope our expert advice on personal loans helps you choose the lender that best meets your financial goals.


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.