Best Personal Loans in Tacoma, WA: Top Lenders & Best Picks for You

Banner image
Edited byAshley Jacobs

Updated: December 28, 2023

Advertising & Editorial Disclosure

Best Personal Loans in Tacoma, WA: Top Lenders & Best Picks for You

Personal loans in Tacoma can be used for covering major purchases, consolidating debt, renovating a home and more. Lenders determine your eligibility by looking at income, debt, debt-to-income ratio and credit score.

In Washington, the average personal loan debt is $14,822 with an interest rate of around 9.54%. Borrowers in Tacoma with a credit score higher than the average of 730 might be able to find lower interest rates and be eligible for higher loan amounts. See which lenders offer the best personal loans in Tacoma based on MoneyGeek’s findings.


Best Overall Personal Loan Lender in Tacoma: LightStream


Best Personal Loan Lender for Bad Credit in Tacoma: Upstart


Best Personal Loan Lender for Good Credit in Tacoma: SoFi


Best Personal Loan Lender for Debt Consolidation in Tacoma: Upgrade


Best Personal Loan Lender for Home Improvement in Tacoma: Best Egg


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

The average personal loan in Tacoma is $14,822. Just as a lender determines its risk of approving you for a loan by evaluating your credit score, income and more, as a borrower, you also must go through a couple of steps and considerations to assess whether a personal loan is indeed the right choice for you.

MoneyGeek recommends this step-by-step guide for applying for a personal loan in Tacoma.


Ask Yourself the Important Questions

Determine how much funding you need and whether the monthly payments required are within budget. You’ll also want to know whether your current credit score meets your lender’s requirements. These are typically the important questions you must initially ask before applying:

  • 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

Personal loan lenders in Tacoma each have their own loan terms from maximum loan amounts, APR ranges, disbursement period and more. MoneyGeek gathered this information to help borrowers compare each of their options and determine the best choice. However, doing your own research on lenders not on our list is in your best interest to find more options for your unique needs. It’s important to do your own research since a loan tends to be a two- to four-year commitment, on average.



A big financial commitment like a personal loan requires careful consideration. Even after choosing a specific lender offer, you may want to think it over for a few more days before making the final decision. Rushing into a loan is not a wise decision. By waiting for a few days, you may determine that a different funding opportunity is a better solution for your financial needs. You may even determine that the lender you thought was the right fit for you isn’t the ideal option.


Read the Fine Print

Details such as the loan amount and APR ranges are worth reviewing, but reading the fine print is just as important. In addition to your monthly payments, you want to make sure that origination fees, late payment fees and any prepayment penalties are still within your budget. Looking into these things helps you better decide on a lender and saves you money in the long run since you will know how to avoid certain fees and expenses.



After you have considered your options, read the fine print and feel good about the terms and conditions, it’s time to prepare your documentation so you can apply for your loan. Lenders typically require proof of identification, proof of income and other financial information to process your loan. Some lenders make it easy to apply online, but you can also call or visit your lender’s office to submit your documents, if available. Applying in person can be beneficial because it allows you to get your questions answered as you complete the application process.

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

If your loan application is declined, don’t worry. This happens all the time and doesn’t mean your quest for a personal loan is over.

Low credit scores and not having enough income are grounds for rejecting an application. If this happens, MoneyGeek recommends doing a few things.

First, call your lender to ask the specific reason for your denial. Sometimes, shortening the loan term or borrowing a lesser amount can do the trick. Second, if modifying your loan information still doesn’t approve your application, you may try to work on the factor and re-apply typically after six months. Having improved on this factor also increases your chances of getting approved elsewhere.

Payday loans should be avoided at all costs. This type of loan comes with hefty fees and an unreasonable repayment period.

Frequently Asked Questions About Personal Loans in Tacoma

The best personal loan in Tacoma varies for different borrowers. MoneyGeek addresses frequently asked questions from borrowers in Tacoma.

The overall best personal lender in Tacoma is LightStream. However, other lenders could be a better fit depending on your situation. SoFi offers a lower interest rate for those with good credit. Upstart could be a good alternative for those with bad credit. Upgrade is the best choice if you plan to consolidate multiple debts. Best Egg has excellent loan offers for home improvement.

In Tacoma, LightStream has the lowest interest rate offer. However, its rate depends on your financial profile.

Personal loans can be used to fund vacations. However, some lenders may refuse an application for specific loan purposes. Check with your potential lender about the restrictions before applying.

Yes. Borrowers typically use funds in a personal loan for home improvements. MoneyGeek recommends Best Egg for this funding purpose in Tacoma.

In general, funds can’t be used to fund education, investments or to repay an existing loan. You may want to verify what specific loan purposes are allowed before applying with your chosen lender.

Borrowers can typically access $1,000 to $100,000 in funding, depending on eligibility and the lender they choose.

It depends on the lender. Some providers release funds on the same day, whereas others take longer.

Yes. However, take note of prepayment penalties that may come with your personal loan.

Our Personal Loan Methodology


Over 35 individual data points categorized into customer service, consumer friendliness, loan accessibility and affordability, flexibility and lender transparency were reviewed when comparing more than 30 different personal loan lenders in Tacoma.

MoneyGeek listed each lender’s available loan amount, minimum credit score, APR ranges, minimum income amount, application fees, disbursement times and other lender information. These individual data points are believed to have the most weight when assessing whether a lender is worth the choice.

When reviewing a lender, MoneyGeek looks at customer service ratings, business ratings and other additional features. These are factors that could make a seamless user experience from prequalification, payment options and mobile apps.

Our personal loan recommendations and expert advice have the consumers’ best interest in mind. These are intended to assist you in making the best decision when selecting a lender that meets your requirements.


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.