Best small personal loans in 2022

Timely

on the secure site of NerdWallet

Ideal for small loans starting at $300

27.74–35.95%

This is an advertisement for a consumer loan, subject to credit eligibility. Not available in CO, DC, GA, HI, IA, MA, MD, ME, NY and WV. Loans in AZ, CA, FL, ID, IL, MO, NJ, NM, TX, UT and WI are issued by Oportun Inc. California Loans issued under license from California Finance Act. NV loans issued by Oportun, LLC. In all other states, loans are issued by MetaBank, NA, Member FDIC. State terms, conditions and restrictions apply. See opportun.com for more details.

$300–$10,000

None

See my rates

on the secure site of NerdWallet

PenFed Credit Union Personal Loan

PenFed Credit Union Personal Loan

on the secure site of NerdWallet

Ideal for small loans starting at $600

4.99–17.99%

$600–$50,000

Loan Payment Example: A $50,000 personal loan financed at 5.49% APR would equal 60 monthly payments of approximately $954.83 each.

None

See my rates

on the secure site of NerdWallet

loan club

loan club

Ideal for small loans starting at $1,000

6.34–35.89%

A representative example of loan repayment terms is as follows: you receive a loan of $13,411 for a term of 36 months, with an interest rate of 12.16% and an origination fee of 5.30 % of $711, for an APR of 15.99%. In this example, you will receive $12,700 and make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan terms are 36 months or 60 months. Certain amounts and terms may not be available in certain states. The APR ranges from 7.04% to 35.89% and is determined at the time of application. Origination fees vary from 3% to 6% of the loan amount. The lowest APR is available for borrowers with excellent credit. Advertised rates and fees are valid as of 07/01/21 and are subject to change without notice. Loans are made by LendingClub Bank, NA, Member FDIC (“LendingClub Bank”), a wholly owned subsidiary of LendingClub Corporation, NMLS ID 167439. Loans are subject to credit approval and sufficient investor commitment prior to to be able to be financed or issued. Certain information we subsequently obtain as part of the application process (including, but not limited to, information contained in your consumer report, your income, the loan amount you are requesting, the purpose of your loan and eligible debt) will be taken into account and may affect your ability to obtain a loan from us. Closing of the Loan is subject to acceptance of all required agreements and disclosures on Lendingclub.com. “LendingClub” is a registered trademark of LendingClub Bank.

$1,000–$40,000

600

Upgrade

Upgrade

Ideal for small loans starting at $1,000

6.95–35.97%

Personal loans granted through the upgrade carry annual percentage rates (APR) from 6.95% to 35.97%. All personal loans carry an origination fee of 1.85% to 8%, which is deducted from the loan proceeds. Lower rates require automatic payment and direct repayment of some existing debt. The loans have repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a term of 36 months and an APR of 17.59% (which includes an annual interest rate of 13.94% and a one-time origination fee of 5%) , you will receive $9,500 in your account and you will have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. Your loan APR may be higher or lower, and your loan offers may not have multiple terms available. The actual rate depends on credit score, credit usage history, loan term and other factors. Late payments or subsequent fees and commissions may increase the cost of your fixed rate loan. There are no fees or penalties for prepaying a loan.

$1,000–$50,000

560

Reached

Reached

Ideal for small loans starting at $1,000

5.42–35.99%

Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be eligible for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000), NM ($5,100), OH ($6,000). financial information. The loan rate and amount are subject to change depending on the information received in your complete application. This offer can only be accepted by the person identified in this offer, who is old enough to legally enter into a credit extension agreement, a US citizen or permanent resident and current resident of the United States. Duplicate offers are void. Closing of your loan is dependent on your meeting our eligibility criteria, verifying your information, and agreeing to the terms and conditions on the www.upstart.com website. The full range of available rates varies by state. The average 5-year loan offered to all lenders using the Upstart platform will have an APR of 21.4% and 60 monthly payments of $24.62 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $14,775, including an origination fee of $582. The APR is calculated based on the 5-year rates offered in the last month. There is no down payment or prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved. If you accept your loan before 5:00 PM EST (excluding weekends and holidays), you will receive your funds the next business day. Loans used to fund education-related expenses are subject to a 3 business day waiting period between loan acceptance and funding in accordance with federal law.

$1,000–$50,000

None

Universal Credit

Universal Credit

on the Universal Credit website

Ideal for small loans starting at $1,000

11.69–35.93%

$1,000–$50,000

560

on the Universal Credit website

SeedFi Borrow & Grow personal loan

SeedFi Borrow & Grow personal loan

Ideal for small loans starting at $1,000

7.42–29.99%

$1,200–$7,000

520

OneMain

OneMain Financial

on the OneMain Financial website

Ideal for loans starting at $1,500

6:00 p.m.–35.99%

Not all applicants will qualify for larger loan amounts or the most favorable loan terms. Loan approval and actual loan terms are dependent on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). Larger loan amounts require a first lien on a motor vehicle less than ten years old, which meets our value requirements, titled in your name with valid insurance. The maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. Depending on the state where you open your loan, the origination fee can be either a flat fee or a percentage of your loan amount. Lump sums vary by state, ranging from $25 to $300. Percentage-based fees vary by state, ranging from 1% to 10% of your loan amount, subject to certain state limits on the amount of fees. Active duty military personnel, their spouses, or dependents covered by the Military Loans Act may not pledge any vehicle as security for a loan. OneMain loan proceeds cannot be used for post-secondary education expenses as defined by CFPB Regulation Z, such as college, university, or professional expenses; for professional or commercial purposes; buy securities; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a current client, minimum loan amount of $3,100. Ohio: $2,000. Virginia: $2,600. Borrowers (other than current customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. New York: $20,000. An unsecured loan is a loan that does not require you to provide collateral (such as a motor vehicle) to the lender.

$1,500–$20,000

None

The average score is 600 to 650

on the OneMain Financial website

best egg

best egg

Ideal for loans starting at $2,000

5.99–35.99%

*Trustpilot TrustScore as of June 2020. Best Egg Personal Loans, including the Best Egg Secured Loan, are made by Cross River Bank, a licensed commercial bank in the State of New Jersey, Member FDIC, Equal Housing Lender, or Blue Ridge Bank , a national chartered bank. , FDIC Member, Equal Housing Lender. “Best Egg” is a trademark of Marlette Holdings, Inc., a Delaware corporation. All uses of “Best Egg” refer to “Best Egg Personal Loan”, “Best Egg Secured Loan” and/or “Best Egg on behalf of Cross River Bank or Blue Ridge Bank, as originator of the personal loan. Best Egg. “, depending on the case. The term, amount and APR of any loan we offer to you will depend on your credit score, income, payment obligations, loan amount, credit history and other factors. Your loan agreement will contain specific terms and conditions. About half of our customers receive their money the next day. After successful verification, your money can be deposited into your bank account within 1-3 business days. The timing of funds available upon loan approval may vary depending on your bank’s policies. Loan amounts range from $2,000 to $50,000. Massachusetts residents have a minimum loan amount of $6,500; New Mexico and Ohio, $5,000; and Georgia, $3,000. For a second Best Egg loan, the total balance of your existing Best Egg loan cannot exceed $50,000. Annual Percentage Rates (APR) range from 5.99% to 35.99%. APR is the cost of credit as an annual rate and reflects both your interest rate and an origination fee of 0.99% to 5.99% of your loan amount, which will be deducted from any proceeds of the loan you receive. The origination fee on a loan with a term of 4 years or more will be at least 4.99%. The term of your loan will impact your APR, which may be higher than our lowest advertised rate. You need a minimum FICO® score of 700 and a minimum individual annual income of $100,000 to qualify for our lowest APR. To help the government combat the financing of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identification documents.

$2,000–$50,000

600

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