Best Direct Lenders in New York of February 2024

Ray Prince
Last Update: September 25, 2023 Personal Loans by States and Cities

If you are a New York interested in consolidating debt, funding an unexpected expense, or paying for a wedding, then applying for loans from the best direct lenders in New York is a sound idea.

Today, direct lenders offer favorable rates and terms for NY borrowers of all credit scores.

After researching more than 40 NY-based direct lenders, comprising roughly 12 banks, 15 credit unions, and 25 online lenders, we narrowed our top recommendations to eight of the best. The main criteria used were the strength of APRs, repayment terms, eligibility requirements, and extra perks like debt protection programs and consumer education. Continue reading to learn our top picks below:

Lender:Loan Amount:APR:Min. Credit Score/Fees:Best For:
NextDayPersonalLoan$100 – $40,0005.99% – 35.99%0Bad credit
LifeLoans$100 – $40,000Not Listed0Bad credit
Upgrade$1,000 – $35,0008.49% – 35.99%560No prepayment fees on an unsecured loan
LendingPoint$2,000 – $36,5007.99% – 35.99%580Bad credit
EarninUp to $150/Day or $500/Period0%$0/mo; Up to $3.99 per $100 for same-day cash advances (first is free)Bad or no credit
Alliant Credit Union$1,000 – $50,0006.24% – 27.24%640People who prefer online-only banks
Wells Fargo$3,000-$35,0005.74% – 19.99%660Wells Fargo customers
PNC Bank$1,000- $35,0005.98% – 35.99%660Online and in-person service
Navy Federal Credit Union$250 – $50,0007.49% – 18%UndisclosedNavy Federal Credit Union customers
Mid Hudson Valley Federal Credit Union$1500 –  $25,000As low as 8.49%UndisclosedMid Hudson Valley Federal Credit Union customers

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ElitePersonalFinance allows you to compare quotes from multiple lenders. Make a well-informed decision with insights from our top finance experts from ElitePersonalFinance.

Why Trust ElitePersonalFinance Guides?

ElitePersonalFinance adheres to the highest editorial standards, researching bank products and services with a magnifying glass to the fine print. We carefully evaluated APRs, repayment terms, fees/penalties, and dozens of other variables to round out our selections. Presenting only the top New York direct lenders is our goal.

Need help finding a lender that you would highly recommend? Send us an email at, and we’ll be glad to review it and compare it with our picks for potential inclusion in a future update.

Best Direct Lenders in New York of February 2024: Key Findings

The best direct loans in NY start as low as $250 and go up to $100,000.

New Yorkers with bad credit can still obtain personal loans. However, APRs on these loans can reach as high as 35.99%.

Bad credit NY borrowers can take advantage of loan apps like Earnin, which offer up to $150 per day ($500 per period) for no-interest loans paid back by your next paycheck.

To qualify for a good credit direct loan in New York, you must have a credit score of at least 640 with recurring income and debt-to-income ratio of 50% or less.

Some credit unions in NY offer payday alternative loans of up to $1,000 with APRs capped at 28%