Best Personal Loans in West Virginia

Truist was established in 2019 after the merger of BB&T Bank and SunTrust. It’s one of the 10 largest banks in the nation, with over 2,500 branches in 15 states, including West Virginia.

Because of Truist’s well-rounded offerings, they are MoneyGeek’s pick for the best personal loan provider in West Virginia. You can borrow up to $50,000 from this lender, and they offer online application and same-day funding with no origination fees. Loans are payable from six to 60 months.

A Truist loan may not be for you if you want to use it to fund your college education or purchase stocks. The lender has restrictions on the usage of loan funds, so you better check before applying.

Pros

• Next-day funding
• No origination fees
• Auto payment discount of 0.50%
• No prepayment penalties or late fees
• Allows joint loans

• APR range: 8.14%–18.999%
• Minimum/maximum loan amount: $3,500–$50,000
• Minimum credit requirements: None
• Repayment terms: Six–60 months
• Time to receive funds: Next day

MoneyGeek’s choice as the best personal loan provider for low-income borrowers in West Virginia is Upgrade. Established in 2017, this company primarily focuses on unsecured personal loans and offers secured personal loans, auto loans, credit cards and checking accounts.

Compared to most providers, Upgrade has a low credit score requirement. They accept borrowers with a FICO score of at least 560 and don’t have income limitations. Additionally, they pre-qualify applicants through a soft inquiry that doesn’t affect credit scores.

Nonetheless, because Upgrade targets borrowers with low and fair credit, their loans carry high interest rates. They also charge origination fees of up to 8%. Applicants with poor credit may have a better chance of approval by filing a joint loan application, but this lender does not allow co-signers.

You may wish to consider a different loan provider if you want to use the funds for post-secondary education reasons or to make investments, as these uses are not allowed by Upgrade.

Pros

• Offers 1% autopay discount
• Loan repayment up to 60 months
• No prepayment penalties
• Conducts soft credit inquiries
• Offers direct payment to creditors

• 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

If you have a good credit score, MoneyGeek’s choice as West Virginia’s best personal loan company is SoFi. Established in 2011, Social Finance, Inc. started by offering student loans but has since diversified its products and services.

SoFi allows you to borrow as much as $100,000 with a repayment term of up to 60 months. They require a credit score of 680 and will conduct a soft inquiry to check your score.

If you want to improve your chances of getting approved, you may wish to file a joint application. Note that the lender requires a gross income of $50,000, a debt-to-income ratio of 43%, and it can take a couple of days after approval before funds are released.

Pros

• No origination fee
• Conducts soft credit inquiry
• Allows joint loans
• Auto payment discount of 0.25%
• No prepayment penalties or late fees

• 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

Founded in 2006, Lending Club is one of the biggest unsecured personal loan lenders in the United States. They offer diverse products and services, such as secured consumer loans, business loans and more.

Lending Club is MoneyGeek’s pick as the best personal loan provider for debt consolidation in West Virginia. They will pay creditors directly if the loan is for debt consolidation. They also allow joint loans, which can increase your chance of loan approval, and conduct soft checks to verify credit scores.

While they will offer to match the rate of their competitors, they have relatively high interest rates, and their loans carry a 3%–6% origination fee. Likewise, their highest loanable amount is only $40,000.

Because Lending Club restricts how you use your loan, it may not be the right lender if you want the money to make investments, buy cryptocurrency or pay for any expenses related to secondary education.

Pros

• Conducts soft inquiry
• Pays creditors directly in case of debt consolidation
• Offers competitive rate match
• No prepayment penalty
• Allows joint loans

• APR range: 7.04% to 35.89%
• Minimum/maximum loan amount: $1,000–$40,000
• Minimum credit requirements: 600
• Repayment terms: 36–60 months
• Time to receive funds: Next day

Marcus by Goldman Sachs is MoneyGeek’s choice as the best personal loan provider in West Virginia for home improvement. Launched by Goldman Sachs in 2016, Marcus by Goldman Sachs offers investment and banking products for individuals, such as savings accounts, investment accounts and personal loans.

The lender does not charge origination or prepayment fees, and gives a small discount for borrowers that use auto pay. While the maximum loan amount is relatively low at $40,000, there are no restrictions on how you use the money.

Once approved, you will receive your funds from Marcus by Goldman Sachs on the same day. They don’t offer the option for joint or co-signed loans but do have a repayment term of up to 84 months.

Pros

• Has auto pay discount of 0.25%
• No origination fee or late fees
• No prepayment penalty
• Conducts soft credit inquiry
• No restrictions on usage of funds

• APR range: 6.99%–19.99%
• Minimum/maximum loan amount: $3,500–$40,000
• Minimum credit requirements: 660
• Repayment terms: 36–84 months
• Time to receive funds: Same day