Best Personal Loans in Wyoming

MoneyGeek’s choice as the best personal loan provider in Wyoming is LightStream. They offer low interest rates, high loan amounts and flexible repayment options. Additionally, it doesn’t charge origination, prepayment and late payment fees.

LightStream conducts hard inquiries to check an applicant’s credit score but allows joint loans, which people with lower credit scores can use to improve their chances of approval. It can fund loans at the time of approval.

While you can use your personal loan from LightStream for nearly anything, including debt consolidation, there are restrictions. For example, you can’t use your proceeds to contribute to any sort of retirement, life insurance or education savings plan.

SunTrust bank, which was later merged with BB&T to form Truist, established LightStream in 2012 as their online lending arm. Since then, LightStream has been a leading provider of low-interest and fixed-rate loans for various purposes.

Pros

• Offers loans up to $100,000
• Allows joint loans
• No origination fee
• No prepayment penalty
• No late fee

• APR Range: 4.49%–20.49%
• Minimum/maximum loan amount: $5,000–$100,000
• Minimum credit requirements: 660
• Repayment terms: 24–84 months
• Time to receive funds: Same day

Upstart was launched in 2012 and is a pioneer in the use of artificial intelligence in evaluating a borrower’s creditworthiness. They are MoneyGeek’s pick as the best personal loan provider in Wyoming for people with poor credit scores.

Upstart has low credit score requirements, allowing applicants with a score of 300. Additionally, they only conduct a soft inquiry when verifying credit scores. People with poor credit scores and a minimum gross income of $12,000 can apply for a joint loan to increase their chances of approval.

If you are looking for a loan higher than $50,000, Upstart may not be the right choice. It is also not an option for individuals with a debt-to-income ratio higher than 45%. However, the company releases funds the next day, and while they charge an origination fee of up to 8%, they don’t have prepayment penalties.

Pros

• Low minimum gross income requirement
• Low credit score requirement
• Interest rates as low as 3..22%
• Conducts soft inquiry for credit checks
• No prepayment penalty

• APR range: 3.22%–35.99%
• Minimum/maximum loan amount: $1,000–$50,000
• Minimum credit requirements: 300
• Repayment terms: 36–60 months
• Time to receive funds: Next day

SoFi is MoneyGeek’s pick as Wyoming’s best personal loan company for people with good credit scores. SoFi was founded in 2011, initially offering student loans to the market, and has since diversified its products and services.

SoFi requires a credit score of 680 and a $50,000 gross income. However, those approved have access to up to $100,000 and flexible payment terms with a 0.3% auto payment discount. The maximum term of the loan is 60 months. Additionally, the company does not charge origination fees and does allow joint loans. The latter can be useful in securing high loan amounts.

With its high credit requirements, this lender is not for borrowers with poor to fair credit scores.

Pros

• No origination fee
• Conducts soft inquiry credit check
• Up to $100,000 loan amount
• Up to 60 months repayment term
• Allows joint application

• 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

MoneyGeek’s pick as the top personal loan provider in Wyoming for debt consolidation is Upgrade. One advantage of Upgrade is that they pay lenders directly if debt consolidation is the loan’s purpose. Another is that their repayment term can go for as long as 60 months.

Upgrade’s credit score requirement is relatively moderate at 560, and the company does not conduct hard inquiries when checking credit scores. Upgrade offers a 1% auto payment discount.

That said, there are restrictions on how you may use the funds. An Upgrade personal loan may not be suitable for those who need to fund their post-secondary education or if you wish to use the loan for investment purposes.

Upgrade was established in 2017 and primarily focuses on unsecured personal loans nationwide. Nonetheless, they also offer products such as secured personal loans, auto loans, credit cards and checking accounts.

Pros

• Offers a 1% discount for auto repayment
• No prepayment penalty
• Moderate credit score requirement
• 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

Best Egg was created in 2014 as an online lending provider, with Cross River Bank and Blue Ridge Bank underwriting their personal loans. It offers loans in 47 states, including Wyoming.

MoneyGeek’s research shows Best Egg is the best personal loan company in Wyoming for people looking to finance their home improvements. They have reasonable offers in terms of APR, maximum loan amount and repayment term, and a small discount for automatic payments. They also don’t charge prepayment fees for advance payments.

Best Egg requires a minimum credit score of 700 and a $50,000 gross income. The company conducts soft inquiries when checking credit scores, but their loans carry an origination fee.

Pros

• Does not charge prepayment penalty
• 0.5% discount for auto payments
• Conducts a soft credit inquiry
• Rates are easily accessible on their website

• APR range: 4.99%–35.99%
• Minimum/maximum loan amount: $2,000–$50,000
• Minimum credit requirements: 700
• Repayment terms: 36–60 months
• Time to receive funds: Next day