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Best Personal Loans in Wyoming

You can use personal loans to settle unexpected bills, finance big purchases or consolidate debt, whether for medical bills, home repairs or credit card debt. The average credit card debt in Wyoming is $5,584. If the interest you pay on your credit cards is higher than the average of 9.38% for personal loans, you could save money by refinancing your debt.

A personal loan is an unsecured debt. The lender will consider your income, employment history, debt-to-income ratio, value of any collateral and your creditworthiness. In Wyoming, the average personal loan debt is $24,435, and the average credit score is 719.

Last Updated: 6/8/2022
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MoneyGeek’s Pick for Best Personal Loan Lender in Wyoming: LightStream

To help you find the best personal loans in Wyoming, MoneyGeek rated various lenders in the state using over 30 data points in the process.

We examined each company’s personal loan package in terms of loan amount, repayment terms and interest rate. Our team also evaluated factors that influence your approval chances, including requirements for credit score, gross income and age. Likewise, we analyzed a company’s ability to deliver quality service. Finally, we checked the ease of their application process and if they offer mobile apps.

Best Overall Personal Loan Lender in Wyoming: 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 Recieve Funds

    on LightStream Website

Best Personal Loan Lender for Bad Credit in Wyoming: 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 Recieve Funds

    on Upstart Website

Best Personal Loan Lender for Good Credit in Wyoming: 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 Recieve Funds

    on SoFi Website

Best Personal Loan Lender for Debt Consolidation in Wyoming: 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 Recieve Funds

    on Upgrade Website

Best Personal Loan Lender for Home Improvement in Wyoming: 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 Recieve Funds

    on Best Egg Website

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

The average personal loan debt in Wyoming is $24,435. Personal loans have become a popular way to finance both planned and unplanned expenses due to their flexibility and ease of application. Although personal loans have simple requirements, it makes sense to study certain variables when applying for a loan. MoneyGeek evaluated the steps you should take to get the best personal loan in Wyoming.

1

Ask Yourself the Important Questions

Start by asking yourself some important questions before proceeding with your personal loan application to ensure it’s the best fit for your needs.

  • How much money do you need? You’ll be paying interest on your loan, so it makes sense to borrow only as much as you need for your specific purpose. If you’re applying for a loan to fund the purchase of a recreational item, for instance, consider saving instead of taking on debt.
  • What’s your credit score? It’ll be more difficult to get approved for a personal loan if you have a low credit score. Check your preferred lender’s credit score requirements before applying for a loan.
  • Can you afford the monthly payment? You’re going to pay your personal loan in monthly installments. Before taking on the debt, make sure you have enough disposable income to make those payments and still have enough money to live on.
  • Do you have existing debts? One of the things that lenders check is your debt-to-income ratio. You can have your loan declined if a high percentage of your income already goes into paying existing debts.
2

Do Your Research

It makes sense to gather all the information you can before applying for a loan. Scrutinize the company’s policies regarding interest rates, monthly payments, credit checks and more. Likewise, look out for any restrictions that their loan may have, as some providers don’t let you spend the money on certain things.

MoneyGeek collected all the information you need when applying for a personal loan in Wyoming. However, our analyses are based on generalizations, and our findings may not apply to your specific needs and situation. Conduct your own research to find the best personal loan provider for you.

3

Wait

Since personal loans are a big financial commitment, you should step back and wait for a day or two before finalizing your decision. The time may give you a better perspective and understanding of the situation, allowing you to make the best choice for your needs.

Although you can pay your personal loan over time, they typically come with high interest rates. That can add up over time. Consider saving for a non-essential item instead of taking out a loan to finance its purchase.

4

Read the Fine Print

If you’ve decided that a personal loan is the best way to cover your financial needs, focus on a lender and revisit their offer. Look beyond their marketing slogans and study their fine print.

Take a look at details such as prepayment penalties, late payment fees, early payout fees, origination fees and other fees that can add to your expenses. Carefully studying a provider’s offer can save you money, as you’ll be able to avoid unnecessary fees that may come with your personal loan.

5

Apply for the Loan

Once you’ve evaluated all your options, assessed the fine print and feel confident with your chosen lender, you’re ready to apply for a personal loan. Prepare the documents that are typically required by lending companies, such as your identification, address and proof of income.

You have the option to apply for your loan online. While it’s convenient, it’s also not a bad idea to call or visit your lender’s office if you have additional questions or just prefer interacting in person.

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

Even after all the preparation and research on your part, your loan application may be declined. Lenders in Wyoming deny personal loans for various reasons, such as low credit score, insufficient income or a high debt-to-income ratio.

If your loan is denied, you can always contact the lender and ask why they didn’t approve your application. Find out if the terms can be modified in order to reverse their initial decision. This can include a shorter term or decreasing your loan amount.

Similarly, you can apply at a different company, but it’s better to improve your profile first before going to another lender. You should address why your initial loan was denied to have a better chance the next time you apply.

No matter how desperate you are, avoid payday loans. They have short repayment terms with high fees and interest rates.

Frequently Asked Questions About Personal Loans in Wyoming

Your personal situation and financial needs determine the best personal loan provider for you. MoneyGeek answered some frequently asked questions to help you know more about personal loans in Wyoming.

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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.

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’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, credit card issuer, hotel, airline, or other entity.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings for our coverage of credit card products. MoneyGeek and CardRatings may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.