Loan Companies Like Upstart, Avant, HappyMoneyLoan, Upgrade, LendingTree

ElitePersonalFinance
Last Update: May 6, 2022 Loan Reviews Loans

If you have fair credit, it’s challenging to obtain a cheap personal loan from a bank. For context, they typically lend to Americans with credit scores of 700 or more. However, if you have a credit score in the 600 to 690 range, don’t fret. There are plenty of affordable options available in the marketplace, and you don’t have to settle for a payday loan. For example, loan companies like Upstart, Avant, LendingTree, Upgrade, and others can help you obtain a low-cost personal loan with flexible terms.

But how do they work?

Well, first, it’s essential to define a personal loan. With fixed annual percentage rates (APRs), personal loans let you borrow a sum of money and repay the funds with equal monthly payments over typical terms of one to five years. In addition, each monthly outlay includes a portion of your principal balance and the interest owed.

More importantly, personal loan APRs often range from 5.99% to 35.99%, though the lowest rates are usually reserved for individuals with the highest credit scores. However, with a credit score in the 600 to 690 range, you can still qualify for an APR of 10% to 15%. For example, LendingTree’s July 2021 Personal Loan Offers Report found that borrowers with credit scores in the 640 to 679 range received an average APR of 22.74%. However, the top 10% of borrowers in this credit score range received an average APR of 10.94%. Thus, affordable options are available if you know where to look.

Furthermore, bad credit personal loans have APRs of 15.99% to 35.99%, and alternative payday loans have APRs of 100% or more. As a result, if you want to obtain the best fair credit personal loan in the shortest amount of time, please consult our marketplace. With a few clicks, you can browse dozens of lenders that are willing to help, and inquiring won’t impact your credit score. In addition, you can also read our reviews below to learn more about what kind of offers are available.

The Best Personal Loans For Fair Credit

If you have a middle-of-the-road credit score, you don’t have to settle for a middle-of-the-road personal loan. For example, plenty of lenders extend credit to borrowers with fair credit, and under certain circumstances, you can even obtain good credit APRs.

Since many online lenders use alternative data that traditional lenders don’t always accept, your creditworthiness is more than a simple score. As such, your income, savings, spending habits, education, and rent history can often outweigh a weak credit score. Thus, please take the time to consider all of your options before settling for subpar financing.

Lender: Loan Amount: APR: Min. Credit Score: Best For:
NextDayPersonalLoan $100 – $40,000 Not Listed Not Listed Comparing bad credit loans
ZippyLoan $100 – $15,000 12% – 35.99% 0 Bad or no credit
Even Financial $1,000 – $250,000 2.49% – 35.99% 550 Obtaining the best APR
Credible $600 – $100,000 2.49% – 35.99% 620 Obtaining a Best Rate Guarantee
Upgrade $1,000 – $50,000 5.94% – 35.97% 560 High DTI ratios
PersonalLoans $1,000 – $35,000 5.99% – 35.99% 580 Short and long-term personal loans
LendingPoint $2,000 – $36,500 9.99% – 35.99% 580 $25,000 annual incomes
LendingTree $1,000 – $50,000 2.49% – 35.99% 600 Obtaining a low APR
LendingClub $1,000 – $40,000 7.04% – 35.89% 600 Fair credit scores, low DTI ratios
Upstart $1,000 – $50,000 3.09% – 35.99% 300 Low credit scores, high DTI ratios
PayOff $5,000 – $40,000 5.99% – 24.99% 550 A stable credit history
OneMain Financial $1,500 – $20,000 18% – 35.99% 0 Low credit scores
Avant $2,000 – $35,000 9.95% – 35.99% 580 $20,000 annual incomes
Peerform $4,000 – $25,000 5.99% – 29.99% 600 Fair credit scores, low DTI ratios
Oportun $300 – $10,000 7.99% – 35.99% 0 Small loans
Uprova $300 – $5,000 34.5% – 35.99% 580 Avoiding loan origination fees
UniversalCredit $1,000 – $50,000 8.93% – 35.93% 560 Low credit scores, high DTI ratios

NextDayPersonalLoan

Loan Amount: $100 – $40,000
APR: Not Listed
Min. Credit Score: Not Listed
Approval: 1 – 7 Days
Terms: Not Listed
Fees:
  • Loan origination fees vary by lender
  • Late payment fees vary by lender
  • Most lenders don’t charge prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have recurring employment income or government benefits
  • Fill out your information through NextDayPersonalLoan’s online portal
Average Borrower Profile:
  • NextDayPersonalLoan’s connects borrowers with personalized financial product offers from banks and other lenders
  • If you have bad, fair, good, or excellent credit, financing options are available
Best For: Comparing bad credit loans
Check rates

NextDayPersonalLoan connects applicants with some of the best lenders in the business. You can borrow anywhere from $100 to $40,000, and submitting an application won’t impact your credit score. Moreover, the company helps streamline your search. For example, NextDayPersonalLoan is a comparison site and not a direct lender. But like ZippyLoan, Even Financial, and LendingTree, its technology allows you to view multiple loans in one place. Therefore, you can find affordable financing without having to do all of the homework yourself.

However, like ZyppyLoan, APRs and fees vary by lender, so you need to review their proposals to determine the applicable rates. Despite that, reputable comparison sites like PersonalLoans and Credible also have similar policies, so it’s pretty standard in the marketplace. Also noteworthy, NextDayPersonalLoan should provide services in all states, and the company doesn’t list any regional restrictions.

Pros:

  • Lenders on NextDayPersonalLoan’s site let you borrow $100 to $40,000.
  • High loan amounts are available.
  • NextDayPersonalLoan’s network of lenders compete for your business.
  • You can apply for small loans that cover emergencies.
  • NextDayPersonalLoan’s services should be available in all states.
  • Checking your rate won’t impact your credit score.

Cons:

  • Like ZyppyLoan, lenders on the platform determine the fees and charges.
  • You need to apply to see lenders’ APRs.
  • Small-dollar loans will likely incur APRs similar to payday loans.

The impact of COVID-19:

Since NextDayPersonalLoan is a comparison site, it can’t amend loan agreements. As a result, you should contact your lender directly to determine if forbearance or hardship programs are available. In addition, you can also call NextDayPersonalLoan at 1-866-829-4551 for helpful advice.

ZippyLoan

Loan Amount: $100 – $15,000
APR: 12% – 35.99%
Min. Credit Score: 0
Approval: 1 – 7 Days
Terms: 6 Months – 5 Years
Fees:
  • Loan origination fees vary by lender
  • Late payment fees vary by lender
  • Most lenders don’t charge prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have recurring employment income or government benefits
  • Fill out your information through ZippyLoan’s online portal
Average Borrower Profile:
  • ZippyLoan connects borrowers with personalized financial product offers from banks and other lenders
  • If you have bad, fair, good, or excellent credit, financing options are available
Best For: Bad or no credit
Check rates

ZippyLoan is another great comparison site that can help you obtain safe and legit financing. For example, loan amounts range from $100 to $15,000 with typical terms of six months to five years. However, like NextDayPersonalLoan, you need to apply to see lenders’ APRs, and they often vary depending on your credit score.

ZipplyLoan’s financing example shows APRs of 12% to 35.99%, and only direct lenders like OneMain Financial and Uprova have higher low-end APRs. However, ZipplyLoan’s high-end APR of 35.99% meets the requirement for personal loans, so borrowers with credit scores near the low-end of the fair credit range should consider applying. To that point, ZipplyLoan has a minimum credit score requirement of 0, and like OneMain Financial and Opportun, it’s one of three lenders on our list that explicitly approves borrowers with no credit score. Therefore, if you have bad credit, ZipplyLoan is one of the best options available. However, please note that loans are not available in West Virginia, Oregon, New York, or the District of Columbia.

Pros:

  • Lenders on ZippyLoan’s site let you borrow $100 to $15,000.
  • Respectable APRs of 12% to 35.99% are available.
  • High loan amounts are available.
  • ZipplyLoan’s network of lenders compete for your business.
  • You can apply for small loans that cover emergencies.
  • Like OneMain Financial and Oportun, there is no minimum credit score requirement.
  • Checking your rate won’t impact your credit score.

Cons:

  • Like NextDayPersonalLoan, lenders on the platform determine the fees and charges.
  • Some products’ APRs may exceed 35.99%.
  • Financing is not available in West Virginia, Oregon, New York, or the District of Columbia.

The impact of COVID-19:

Although ZippyLoan doesn’t have any specific programs related to the coronavirus pandemic, you can apply for a hardship exemption. To do so, please contact a representative at 1-844-379-8621 or send an email to support@zippyloan.com.

Even Financial

Loan Amount: $1,000 – $250,000
APR: 2.49% – 35.99%
Min. Credit Score: 550
Approval: 1 – 7 Days
Terms: 2 – 7 Years
Fees:
  • Loan origination fees vary by lender
  • Late payment fees vary by lender
  • Most lenders don’t charge prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 550
  • The maximum DTI ratio is often 43%
  • Have recurring employment income or government benefits
  • Fill out your information through Even Financial’s online portal
Average Borrower Profile:
  • Even Financial connects borrowers with personalized financial product offers from banks and other lenders
  • If you have bad, fair, good, or excellent credit, financing options are available
Best For: Obtaining the best APR
Check rates

As mentioned, Even Financial is a lot like like ZippyLoan, NextDayPersonalLoan, and LendingTree because it’s a comparison site and not a direct lender. As a result, if you want to spend less time searching for the best personal loans for fair credit and more time enjoying your favorite hobbies, Even Financial may be the perfect match.

The loan comparison site lets you browse several offers that meet your criteria, all in one convenient place. Therefore, Even Financial does all of the hard work for you. In addition, more than 300 reputable lenders on Even Financial’s site offer personal loans of $1,000 to $250,000, with APRs of 2.49% to 35.99%. Moreover, terms of two to seven years are available, and Even Financial’s personalized results can increase your chances of obtaining a loan. And, of course, like Upstart, Credible, and the other companies on our list, applying won’t impact your credit score, so you have little to lose by submitting an application.

Also noteworthy, you should be able to access Even Financial’s services in all states. And since the company partners with fair and bad credit lenders like PayOff by Happy Money and Upstart, you should have plenty of offers to choose from.

Pros:

  • Lenders on Even Financial’s site offer personal loans of $1,000 to $250,000.
  • Like Credible, affordable APRs of 2.49% to 25.99% are available.
  • Flexible repayment schedules of two to seven years are available.
  • Even Financial saves you time and money.
  • You should be able to access Even Financial’s services in all states.
  • Applying won’t impact your credit score.

Cons:

  • Like ZyppyLoan, lenders on the platform determine the fees and charges.
  • Several competitive offers can make it hard to determine which loan is right for you.

The impact of COVID-19:

Since Even Financial is a comparison site, it doesn’t issue loans directly. Moreover, the lenders on Even Financial’s platform determine their deferral and forbearance policies independently. As a result, you need to contact your lender directly to determine the available options.

Credible

Loan Amount: $600 – $100,000
APR: 2.49% – 35.99%
Min. Credit Score: 620
Approval: 1 – 7 Days
Terms: 1 – 7 Years
Fees:
  • Loan origination fee of 1% – 8%
  • Late payment fees vary by lender
  • Most lenders don’t charge prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 620
  • Have a DTI ratio that doesn’t exceed 40%
  • Have recurring employment income or government benefits
  • Fill out your information through Credible’s online portal
Average Borrower Profile:
  • Credible connects borrowers with personalized financial product offers from banks and other lenders
  • If you have fair, good, or excellent credit, financing options are available
Best For: Obtaining a Best Rate Guarantee
Check rates

For more easy browsing, Credible is another loan comparison site home to some of the most reputable lenders. Financing options from $600 to $100,000 are available on the platform, and like Even Financial, APRs range from 2.49% to 35.99%. Moreover, you can extend your loan maturity from one to seven years, and Credible’s Best Rate Guarantee means that a $200 gift card is yours if you find a better APR elsewhere (conditions apply). As a result, Credible is the only company on our list to offer this promise.

Like Even Financial, finding the best personal loans for fair credit only requires a few clicks. After that, Credible will provide you with a personalized list of lenders that are most likely to offer you a loan. However, Credible has a minimum credit score requirement of 620, while Even Financial’s is 550. Thus, if you fall near the low-end of the fair credit range, Even Financial may offer a higher chance of approval.

Despite that, checking your rate has no impact on your credit score, and you don’t have to worry about making an on-the-spot commitment. And like NextDayPersonalLoan, you should be able to access Credible’s services in all states.

Pros:

  • Lenders on Credible’s site offer personal loans of $600 to $100,000.
  • Like Even Financial, affordable APRs of 2.49% to 25.99% are available.
  • Credible has a Best Rate Guarantee.
  • Flexible repayment schedules of one to seven years are available.
  • Credible saves you time and money.
  • You should be able to access Credible’s services in all states.
  • Applying won’t impact your credit score.

Cons:

  • Loan origination fees range from 1% to 8%.
  • Other fees and charges vary by lender.

The impact of COVID-19:

Since Credible is a comparison site, it doesn’t issue loans directly. Moreover, the lenders on Credible’s platform determine their deferral and forbearance policies independently. As a result, you need to contact your lender directly to determine the available options. For more information, Credible created an exhaustive list outlining lenders’ recent policies.

LendingPoint

Loan Amount: $2,000 – $36,500
APR: 9.99% – 35.99%
Min. Credit Score: 580
Approval: 1 – 7 Days
Terms: 2 – 5 Years
Fees:
  • Loan origination fee of 0% to 6%
  • Late payment fee of up to $30
  • Insufficient funds fee of $20
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 580
  • Have a DTI ratio that doesn’t exceed 50%
  • Have an annual income of at least $25,000
  • Fill out your information through LendingPoint’s online portal
Average Borrower Profile:
  • Has a credit score of 673
  • Has an annual income of $80,000
Best For: $25,000 annual incomes
Check rates

LendingPoint contrasts the companies above because it’s a direct lender and not a comparison site. The difference is that LendingPoint issues loans directly, while the other companies help connect you with third-party lenders. However, the product you receive is largely the same.

LendingPoint provides personal loans that range from $2,000 to $36,500, with APRs of 9.99% to 35.99%. Moreover, terms range from two to five years. To qualify, you need to have an annual income of at least $25,000. For context, this includes employment and self-employment income and government benefits. However, like Avant, Uprova, and PersonaLoans, LendingPoint has a minimum credit score requirement of 580. Therefore, it’s a great option if you fall near the borderline between fair and bad credit.

However, like OneMain Financial and Upstart, LendingPoint requires borrowers in Georgia ($3,500) to take out higher loan minimums. And like Avant, financing is unavailable in both Nevada and West Virginia. As a result, borrowers in these regions should consult the other lenders on our list.

Pros:

  • LendingPoint can help you land a personal loan of $2,000 to $36,500.
  • Flexible repayment schedules of two to five years are available.
  • Applying won’t impact your credit score.

Cons:

  • LendingPoint’s loan origination fee is 0% to 6%.
  • LendingPoint’s late payment fee is up to $30.
  • LendingPoint’s insufficient funds fee is $20.
  • Like Avant, LendingPoint does not issue loans in Nevada or West Virginia.

The impact of COVID-19:

LendingPoint doesn’t reference any specific hardship policies. However, you can call the lender at 1-888-969-0959 or send an email to customerservice@lendingpoint .com to learn more about your options.

Upstart

Loan Amount: $1,000 – $50,000
APR: 3.09% – 35.99%
Min. Credit Score: 300
Approval: 1 – 7 Days
Terms: 3 – 5 Years
Fees:
  • Loan origination fee of 0% – 8%
  • Late payment fee of 5% of the amount due, or $15, whichever is greater, after a 15-day grace period
  • Insufficient funds fee of $15
  • Paper documents fee of $10
  • There are no prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 300
  • Have a DTI ratio that doesn’t exceed 45% to 50% (excluding rent/mortgage)
  • Have not filed for bankruptcy in the last 12 months
  • Have no current delinquencies on your credit profile
  • Have less than six credit inquiries on your profile in the last six months (excluding mortgages, auto and student loans)
  • Have recurring employment income or government benefits
  • Fill out your information through Upstart’s online portal
Average Borrower Profile:
  • Borrows roughly $8,600.
  • Incurs an APR of 23.98% on a five-year term
  • Achieves approval nearly twice as often than traditional lenders with a FICO Score of 620 to 660
  • The CFPB found Upstart’s AI risk model approves 27% more borrowers and they incur APRs 16% lower than traditional lenders
Best For: Low credit scores, high DTI ratios
Check rates

Home to artificial intelligence (AI) and an underwriting algorithm that increases approval rates and lowers APRs, Upstart uses alternative data like job history and education to determine your eligibility. As a result, if you have a fair credit score, other factors can help you obtain a cheaper-than-normal personal loan.

For your reference, Upstart is neither a comparison site nor a direct lender. As a unique hybrid, Upstart is a peer-to-peer (P2P) lender like LendingClub, Payoff by Happy Money, and Peerform. To help you obtain financing, Upstart lets investors match their risk tolerances with borrowers’ credit scores. And since you can qualify with a credit score of at least 300, Upstart is one of the best lenders for fair and bad credit.

To that point, Upstart lets you borrow $1,000 to $50,000, with APRs of 3.09% to 35.99% and terms of three to five years. However, minimum loan amounts vary by state, and borrowers in Georgia ($3,100), Hawaii ($2,100), Massachusetts ($7,000), New Mexico ($5,100), and Ohio ($6,000) have higher starting balances. In addition, the average APR for a five-year loan is 23.98%. However, unlike the other P2P lenders on our list, you should be able to access Upstart’s services in all states.

Pros:

  • Upstart can help you land a personal loan of $600 to $100,000.
  • Affordable APRs of 3.09% to 35.99% are available.
  • Flexible repayment schedules of three to five years are available.
  • Upstart often has higher approval rates and lower APRs than many of its competitors.
  • You should be able to access Upstart’s services in all states.
  • Like PayOff, Applying won’t impact your credit score.

Cons:

  • Upstart’s loan origination fee is 0% to 8%.
  • Upstart’s insufficient funds fee is $15.
  • Upstart’s paper document fee is $10.
  • Upstart’s late payment fee is the greater of $15, or 5% of the amount due, after a 15-day grace period.
  • Minimum loan amounts vary by state.

The impact of COVID-19:

If you need to pause your loan payments because of the pandemic or due to other financial difficulties, you can submit an online request through Upstart’s website. In addition, you can also call the lender at 1-855-451-6753.

Upgrade

Upgrade Disclaimer: *Personal loans made through Upgrade feature APRs of 5.94%-35.97%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade’s lending partners.

Loan Amount: $1,000 – $50,000
APR: 5.94% – 35.97%
Min. Credit Score: 560
Approval: 1 Day
Terms: 2 – 7 Years
Fees:
  • Loan origination fee of 2.9% – 8%
  • Late payment fee of $10, after a 15-day grace period
  • Insufficient funds fee of $10
  • There are no prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 560
  • Have a DTI ratio that doesn’t exceed 75%
  • Have recurring employment income or government benefits
  • Fill out your information through Upgrade’s online portal
Average Borrower Profile:
  • Has a credit score of 678
  • Has an annual income of $78,000
Best For: High DTI ratios
Check rates

Upgrade is another reputable lender that provides access to the best personal loans for fair credit. For example, qualifying borrowers can obtain $1,000 to $50,000, with APRs that range from 5.94% to 35.97%. In addition, terms of two to seven years are available, and like UniversalCredit, you only need a minimum credit score of 560 to get started. For context, UniversalCredit is a partner company of Upgrade, and the former is more suitable if you have bad credit. In fact, UniversalCredit’s approved borrowers have a lower average credit score and income than Upgrade. Therefore, if you have a weaker credit profile, UniversalCredit may be more willing to extend financing.

Conversely, if you have a credit score of 600 or more, Upgrade is a great place to start. And since there is plenty of competition in the marketplace, APRs in the 10% to 15% range should be available. However, please note that Upgrade does not provide services in Washington, D.C. or West Virginia. And like Avant and LendingClub, borrowers in Iowa are also restricted from applying.

Pros:

  • Like UniversalCredit, Upgrade can help you land a personal loan of $1,000 to $50,000.
  • Affordable APRs of 5.94% to 35.97% are available.
  • Flexible repayment schedules of two to seven years are available.
  • Applying won’t impact your credit score.

Cons:

  • Upgrade’s loan origination fee is 2.9% to 8%.
  • Upgrade’s insufficient funds fee is $10.
  • Upgrade’s late payment fee is $10, after a 15-day grace period.
  • Financing is not available in all states.

The impact of COVID-19:

Upgrade provided loan assistance to borrowers dealing with financial hardship throughout the pandemic. And if you still require relief, Upgrade recommends that you log into your account to connect with a representative. Likewise, you can also call Upgrade at 1-844-319-3909 or send an email to support@upgrade.com.

PayOff by Happy Money

Loan Amount: $5,000 – $40,000
APR: 5.99% – 24.99%
Min. Credit Score: 550
Approval: 1 – 7 Days
Terms: 2 – 5 Years
Fees:
  • Loan origination fee of 0% – 5%
  • There are no late payment fees
  • There are no application fees
  • There are no prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 550
  • The maximum DTI ratio is often 43%
  • Have recurring employment income or government benefits
  • Have no current delinquencies
  • Have a credit history of at least three years
  • Fill out your information through PayOff’s online portal
Average Borrower Profile:
  • Has a credit score of 710
  • Has $2,000 in cash flow per month
  • Has a DTI ratio of 40%
Best For: A stable credit history
Check rates

As mentioned, PayOff by Happy Money is a lot like Upstart, LendingClub, and Peerform because it’s a P2P lender. However, the company can still help you find the best personal loans for fair credit. Investors on the platform offer $5,000 to $40,000, with APRs of 5.99% to 24.99%, and terms of two to five years. Moreover, PayOff is the only lender on our list that doesn’t charge late payment fees, and like Even Financial, you can apply with a credit score as low as 550.

However, please note that the lender’s qualification criteria are a little stricter than its competitors. You need a credit history that spans three years or more, and you can’t have any current delinquencies. Furthermore, PayOff is also like Upstart because loan minimums vary by state. For example, you have to borrow at least $5,100 in New Mexico and $6,100 in Maryland. In addition, PayOff doesn’t provide loans in Massachusetts, and like Avant and LendingPoint, borrowers in Nevada are also restricted from applying.

Pros:

  • PayOff can help you land a personal loan of $5,000 to $40,000
  • Affordable APRs of 5.99% to 24.99% are available.
  • Flexible repayment schedules of two to five years are available.
  • You don’t have to worry about late payment fees.
  • Loan proceeds sent to creditors for debt consolidation can receive APR discounts of 0.25% to 1%.
  • Applying won’t impact your credit score.

Cons:

  • PayOff’s loan origination fee is 0% to 5%.
  • You need to borrow at least $5,000.
  • You need a longer credit history than what’s required from some other lenders.
  • You can’t apply if you live in Massachusetts or Nevada.

The impact of COVID-19:

PayOff’s parent company Happy Money has relief programs that can help borrowers dealing with COVID-19 disruptions or other means of financial hardship. To inquire about the available options, you can call Happy Money at 1-949-346-8740 or send an email to success@happymoney.com.

PersonalLoans

Loan Amount: $1,000 – $35,000
APR: 5.99% – 35.99%
Min. Credit Score: 580
Approval: 1 Day
Terms: 90 Days – 6 Years
Fees:
  • Loan origination fee of 1% – 5%
  • You may incur late payment fees after 15-day grace period
  • Most lenders don’t charge prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 580
  • The maximum DTI ratio is often 43%
  • Have recurring employment income or government benefits.
  • Do not have a pattern of late payments, bankruptcies, or charge offs
  • Fill out your information through PersonalLoans’ online portal
Average Borrower Profile:
  • PersonalLoans connects borrowers with personalized financial product offers from banks and other lenders
  • If you have bad, fair, good, or excellent credit, financing options are available
Best For: Short and long-term personal loans
Check rates

As another excellent option for borrowers that don’t want to be stuck conducting research, PersonalLoans is like Even Financial because it’s a well-known comparison site that helps you find tailored offers that fit your budget. For example, lenders on the site extend financing of $1,000 to $35,000, with APRs that range from 5.99% to 35.99%. You can also repay your loan over maturities that range from 90 days to six years, and like Avant, Uprova, and LendingPoint, you shouldn’t have any trouble obtaining financing if you have a credit score of at least 580. However, please note that most qualifying borrowers have at least $2,000 in monthly income.

Furthermore, PersonalLoans is great if you want loans for short and long-term purposes. For example, most personal loan providers have terms of one to five years. However, with maturities of 90 days and up, PersonalLoans helps you find the perfect loan for any task. And like Even Financial, you should be able to access PersonalLoans’ services in all states. Therefore, if you need a short-term loan with an affordable APR, PersonalLoans may be right for you. However, you can’t go wrong with either option.

Pros:

  • Lenders on PersonalLoans’ site offer financing of $1,000 to $35,000.
  • Affordable APRs of 5.99% to 35.99% are available.
  • Flexible repayment schedules of 90 days to six years are available.
  • Like Even Financial, you should be able to access PersonalLoans’ services in all states.
  • Applying won’t impact your credit score.

Cons:

  • Lenders on PersonalLoans’ site have loan origination fees of 1% to 5%.
  • Other fees and charges vary by lender.

The impact of COVID-19:

Since PersonalLoans is a comparison site, it doesn’t issue loans directly. Moreover, the lenders on PersonalLoans platform determine their deferral and forbearance policies independently. As a result, you need to contact your lender directly to determine the available options.

LendingTree

Loan Amount: $1,000 – $50,000
APR: 2.49% – 35.99%
Min. Credit Score: 600
Approval: 1 Day
Terms: 1 – 5 Years
Fees:
  • Loan origination fee of 0% – 3%
  • You may incur late payment fees
  • Most lenders don’t charge prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 600
  • The maximum DTI ratio is often 43%
  • Have recurring employment income or government benefits
  • Fill out your information through LendingTree’s online portal
Average Borrower Profile:
  • Excellent credit scores borrow $20,128 at an APR of 8.83%
  • Good credit scores borrow $9,818 at an APR of 17.54%
  • Full-time employees borrow $11,016
  • Self-employed persons borrow $12,266
  • Part-time employees borrow $7.944
  • Unemployed persons borrow $8,254
  • The majority of personal loans are used for credit card refinancing and debt consolidation
Best For: Obtaining a low APR
Check rates

As one of the most well-known loan comparison sites out there, LendingTree partners with companies like Upstart, PayOff by Happy Money, and LendingPoint. When you visit the site, you can input your specific metrics and browse the available options that meet your criteria. Moreover, anywhere from $1,000 to $50,000 is available, and APRs of 2.49% to 35.99% are pretty respectable. As a rough estimate of what you can expect, LendingTree breaks down its average APRs by credit score:

  • 760 or more often results in an average APR of 8.83%.
  • 720 to 759 often results in an average APR of 12.95%.
  • 680 to 719 often results in an average APR of 17.54%.
  • 640 to 679 often results in an average APR of 22.74%.

As such, LendingTree is a lot like LendingClub and Peerform, because it has a minimum credit score requirement of 600.  However, please note that platform lenders like Upstart and PayOff have minimum credit score requirements of 300 and 550, respectively. As a result, applicants with credit scores below 600 may be approved under certain circumstances. Also noteworthy, you should be able to access LendingTree’s services in all states. However, if you want to shop around and increase your chances of obtaining a lower APR, please consult our marketplace.

Pros:

  • Financiers on LendingTree’s site offer loans of $1,000 to $50,000.
  • Affordable APRs of 2.49% to 35.99% are available.
  • Flexible repayment schedules of one to five years are available.
  • You should be able to access LendingTree’s services in all states.
  • Like PersonalLoans, applying won’t impact your credit score.

Cons:

  • Financiers on LendingTree’s site have loan origination fees of 0% to 3%.
  • Other fees and charges vary by lender.

The impact of COVID-19:

Since LendingTree is a comparison site, it doesn’t issue loans directly. Moreover, the lenders on LendingTree’s platform determine their deferral and forbearance policies independently. As a result, you need to contact your lender directly to determine the available options. For more information, LendingTree created an exhaustive list outlining lenders’ recent policies.

OneMain Financial

Loan Amount: $1,500 – $20,000
APR: 18.00% – 35.99%
Min. Credit Score: 0
Approval: 1 – 7 Days
Terms: 2 – 5 Years
Fees:
  • Loan origination fee of 1% to 10%, or $25 to $500
  • Late payment fee of 1.5% to 15%, or $5 to $30
  • Insufficient funds fee of $10 to $50
Qualification Criteria:
  • Be at least 18 years of age
  • Have recurring employment income or government benefits
  • Fill out your information through OneMain Financial’s online portal
Average Borrower Profile:
  • Has an annual after-tax income of $45,000
  • Borrows $10,000
  • Finances over a five-year term
  • Incurs an APR of 25%
Best For: Low credit scores
Check rates

Bad credit lenders like ZippyLoan and Oportun often compete with OneMain Financial. All three have a minimum credit score requirement of 0 and their low-end APRs are higher than most of the lenders on our list. As a result, if your credit score is closer to bad than fair, all three can help you obtain an affordable personal loan.

OneMain Financial lets you borrow anywhere from $1,500 to $20,000, with APRs of 18% to 35.99%, and terms of two to five years. And like ZippyLoan and Oportun, applying won’t  impact your credit profile.

However, please note that borrowers in Alabama ($2,100), California ($3,000), North Dakota ($2,000), Ohio ($2,000), and Virginia ($2,600) have higher loan minimums. And like Upstart and LendingPoint, applicants in Georgia also have to borrow more than the stated minimum ($3,100 unless you’re a current customer). In addition, the maximum loan amount in North Carolina is $7.500 for new customers, and OneMain Financial currently provides financing in 44 states.

Pros:

  • OneMain Financial can help you land a personal loan of $1,500 to $20,000.
  • Flexible repayment schedules of two to five years are available.
  • Like ZippyLoan and Oportun, there is no minimum credit score requirement.
  • Applying won’t impact your credit score.

Cons:

  • OneMain Financial’s low-end APR is higher than other lenders on our list.
  • OneMain Financial’s loan origination fee is 1% to 10%, or $25 to $500.
  • OneMain Financial’s late payment fee is 1.5% to 15%, or $5 to $30.
  • OneMain Financial’s insufficient funds fee is $10 to $50.
  • Minimum and maximum loan amounts vary by state.
  • Financing is not available in all states.

The impact of COVID-19:

To help its customers stay afloat during the pandemic, OneMain Financial offered payment deferrals and waived late fees. In addition, the loan company also donated funds to the Centers for Disease Control and Prevention (CDC). And if you find yourself requiring further assistance, OneMain Financial recommends that you call the loan company at 1-800-961-5577.

Avant

Loan Amount: $2,000 – $35,000
APR: 9.95% – 35.99%
Min. Credit Score: 580
Approval: 1 – 7 Days
Terms: 2 – 5 Years
Fees:
  • Loan origination fee of up to 4.75%
  • Late payment fee of up to $25, after a 10-day grace period
  • Insufficient funds fee of $15
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 580
  • Have a DTI ratio that doesn’t exceed 70%
  • Have an annual income of $20,000
  • Have monthly after-tax income of at least $1,200
  • Have a monthly cash surplus of $500
  • Fill out your information through Avant’s online portal
Average Borrower Profile:
  • Has a credit score of 644
  • Has a DTI ratio of 30%
  • Has monthly after-tax income of $4,000
  • Has a monthly cash surplus of $2,800
Best For: $20,000 annual incomes
Check rates

Rivalling competitors like LendingPoint, Uprova, and PersonaLoans, Avant has a minimum credit score requirement of 580. Therefore, it’s a great option if you have less-than-stellar credit. However, for your reference, Avant states that most approved borrowers have credit scores in the 600 to 700 range.

You can borrow anywhere from $2,000 to $35,000, with APRs of 9.99% to 35.99%, and terms of two to five years. Avant’s low-end APRs are higher than its main competitors, but like PersonaLoans and LendingPoint, the maximum loan amount is in the mid-$30,000 range. As a result, if your credit score is closer to good than fair and you need to borrow $35,000, PersonaLoans may help you obtain the cheapest rate.

In addition, you need an annual income of $20,000 or more to qualify. And like LendingPoint, Avant doesn’t accept applicants in West Virginia or Nevada. Furthermore, financing is also unavailable in Vermont, Colorado, New York, Hawaii, and Iowa. Despite that, Avant is highly transparent about its terms and fees, which is a plus in our book. Thus, you can trust the company if you need a reliable personal loan.

Pros:

  • Avant can help you land a personal loan of $2,000 to $36,500.
  • Flexible repayment schedules of two to five years are available.
  • Applying won’t impact your credit score.

Cons:

  • Avant’s low-end APR is higher than other lenders on our list.
  • Avant’s loan origination fee is up to 4.75%.
  • Avant’s late payment fee is up to $25, after a 10-day grace period.
  • Avant’s insufficient funds fee is $15.
  • Loans are not available in all states.

The impact of COVID-19:

Avant offered relief programs to help support struggling borrowers throughout the pandemic. Moreover, if you find yourself unable to make your scheduled loan payments, you can call the lender at 1-800-712-5407. In addition, you can also send an email to support@avant.com.

LendingClub

Loan Amount: $1,000 – $40,000
APR: 7.04% – 35.89%
Min. Credit Score: 600
Approval: 1 – 7 Days
Terms: 3 – 5 Years
Fees:
  • Loan origination fee of 3% – 6%
  • You may incur late payment fees
  • There are no application fees
  • There are no prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 600
  • Have a DTI ratio that doesn’t exceed 36% – 43%
  • Have recurring employment income or government benefits
  • Fill out your information through LendingClub’s online portal
Average Borrower Profile:
  • Has a credit score of 700
  • Has an annual income of $100,000
  • Borrows $15,800
  • Finances over a three-year term
  • Incurs an APR of 15.95%
  • Incurs a 5% loan origination fee
Best For: Good credit scores, low DTI ratios
Check rates

LendingClub checks off many of the boxes that determine a reliable lender. And with personal loans ranging from $1,000 to $40,000, and APRs of 7.04% to 35.89% well within the ballpark of its competitors, LendingClub is a gateway to affordable financing. Like Upstart, Payoff by Happy Money, and Peerform, LendingClub is a P2P lender that connects borrowers with investors. As a result, while its minimum credit score requirement of 600 is a lot like LendingTree and Peerform’s minimum standard, investors with higher risk tolerances may be willing to lend to borrowers with slightly lower credit scores. Thus, it’s prudent to submit an application if you’re right on the borderline.

You can choose from maturities that range from three to five years, and while undisclosed late payment fees often apply, there is a 15-day grace period. Moreover, while qualification disclosures are limited, steady income and a respectable credit score should be enough to have LendingClub seriously consider your application. However, like Avant and Upgrade, loans are unavailable in Iowa.

Pros:

  • LendingClub can help you land a personal loan of $1,000 to $40,000.
  • Affordable APRs of 7.04% to 35.89% are available.
  • Flexible repayment schedules of three to five years are available.
  • Applying won’t impact your credit score.

Cons:

  • LendingClub’s loan origination fee is 3% to 6%.
  • You may incur a late payment fee after a 15-day grace period.
  • Like Avant and Upgrade, you can’t apply if you live in Iowa.

The impact of COVID-19:

LendingClub offered delayed payment programs to members in financial need during the pandemic. If you want to apply for relief, you can call LendingClub’s special care line at 1-877-644-4446.

Peerform

Loan Amount: $4,000 – $25,000
APR: 5.99% – 29.99%
Min. Credit Score: 600
Approval: 1 – 7 Days
Terms: 3 – 5 Years
Fees:
  • Loan origination fee of up to 1% to 5%
  • Late payment fee of 5% of the amount due, or $15, whichever is greater, after a 15-day grace period
  • Insufficient funds fee of $15
  • Check processing fee of $15
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 600
  • Have a DTI ratio that doesn’t exceed 40%
  • Have at least one bank account and revolving credit line
  • Have at least a one-year credit history
  • Have no delinquencies, bankruptcies, collections, or tax liens within the last 12 months
  • Fill out your information through Peerform’s online portal
Average Borrower Profile: Peerform doesn’t disclose average personal loan statistics
Best For: Fair credit scores, low DTI ratios
Check rates

Peerform’s P2P loans are just like Upstart, Payoff by Happy Money, and LendingClub’s products. They’re financed by individuals, groups of individuals, or institutional investors, and Peerform handles the approval process and services the loans. You can borrow anywhere from $4,000 to $25,000, with APRs of 5.99% to 29.99% and terms of three to five years. And like PayOff, it’s important to note that Peerform’s high-end APRs are less than 35.99%. Therefore, both P2P companies are great for borderline borrowers that often obtain APRs near the high-end of lenders’ ranges.

However, like LendingTree and LendingClub, you need a credit score of at least 600 to qualify. In addition you must have a DTI ratio of less than 40%, at least one bank account and revolving credit line, and one year of credit history. Furthermore, you can’t have any delinquencies, bankruptcies, collections, or tax liens within the last 12 months. Also, please note that applicants in New York and Colorado can’t obtain loans with APRs that exceed 15.99% and 12%, respectively. In addition, you can’t use Peerform if you live in West Virginia, North Dakota, Vermont, Wyoming, Washington, D.C. or Connecticut.

Pros:

  • Peerform can help you land a personal loan of $4,000 to $25,000.
  • Affordable APRs of 5.99% to 29.99% are available.
  • Flexible repayment schedules of three to five years are available.
  • Applying won’t impact your credit score.

Cons:

  • Peerform’s loan origination fee is 1% to 5%.
  • Peerform’s late payment fee is the greater of $15, or 5% of the amount due, after a 15-day grace period.
  • Peerform’s insufficient funds fee is $15.
  • Peerform’s check processing fee is $15.
  • Financing is not available in all states.

The impact of COVID-19:

Peerform doesn’t reference any specific hardship policies. However, you can call the lender at 1-800-338-8049 or send an email to support@peerform.com to learn more about your options.

Oportun

Loan Amount: $300 – $10,000
APR: 7.99% – 35.99%
Min. Credit Score: 0
Approval: 1 – 7 Days
Terms: 1 – 4 Years
Fees:
  • Loan origination fee of $0 to $300.
  • Late payment fee of 5% of the amount due, or $10, whichever is less, after a 10-day grace period
  • Insufficient funds fee of $15
  • Administrative fee of $75 for loans greater than $5,000.
Qualification Criteria:
  • Be at least 18 years of age
  • Have monthly income of at least $500
  • Have up to four personal references
  • Fill out your information through Oportun’s online portal
Average Borrower Profile: Has an annual income of $50,000
Best For: Small loans
Check rates

As mentioned, Oportun is a lot like ZippyLoan and OneMain Financial because it has a minimum credit score requirement of 0. However, Oportun’s loans are capped at $10,000, while ZippyLoan and OneMain Financial offer up to $15,000 and $20,000, respectively. Conversely, Oportun’s low-end APR is 7.99%, while ZippyLoan and OneMain Financial’s are 12% and 18%. As a result, there is a trade-off between loan amounts and APRs, and the best option depends on your specific needs. For context, borrowers in select states with excellent credit scores can obtain a low APR of 7.99%. However, this option isn’t available in all states, and APRs of 30%+ are more common.

All in all, Oportun lets you borrow anywhere from $300 to $10,000, with APRs of 7.99% to 35.99%, and terms of one to four years. In addition, with loan amounts starting at $300, Oportun is one of the best options available if you need a small cash infusion and don’t want to incur alternative payday loan APRs of 36% or more. However, please note that personal loans of more than $6,000 are not available for new customers in 11 states.

Pros:

  • Oportun can help you land a personal loan of $300 to $10,000.
  • Affordable APRs of 7.99% to 35.99% are available in select states.
  • Flexible repayment schedules of one to four years are available.
  • Like ZippyLoan and OneMain Financial, there is no minimum credit score requirement.
  • Applying won’t impact your credit score.

Cons:

  • Oportun’s loan origination fee is $0 to $300.
  • Oportun’s late payment fee is the lesser of $10, or 5% of the amount due, after a 10-day grace period.
  • Oportun’s insufficient funds fee is $15.
  • Oportun’s administrative fee is $75 for loans greater than $5,000.
  • Loans are not available in all states.

The impact of COVID-19:

To help its customers forge through the pandemic, Oportun offered financial assistance to qualifying borrowers. Moreover, if you find yourself unable to make your payments, Oportun recommends that you call the loan company at 1-866-488-6090.

Uprova

Loan Amount: $300 – $5,000
APR: 34.5% – 35.99%
Min. Credit Score: 580
Approval: 1 – 7 Days
Terms: 9 Months – 3 Years
Fees:
  • Insufficient funds fee of $25
  • Late payment fees often apply
  • There are no application fees
  • There are no loan origination fees
  • There are no prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 580
  • Have recurring employment income or government benefits
  • Fill out your information through Uprova’s online portal
Average Borrower Profile: Uprova doesn’t disclose average personal loan statistics
Best For: Avoiding loan origination fees
Check rates

Like ZippyLoan, Credible, Oportun and NexyDayPersonalLoan, Uprova is one of five lenders on our list that offer financing of less than $1,000. Loans range from $300 to $5,000, with APRs of 34.5% to 35.99%, and terms of nine months to three years. And like Avant, LendingPoint, and PersonaLoans, the minimum credit score to qualify is 580. However, since financing is capped at $5,000, applicants in need of larger loans should look elsewhere.

As a positive, Uprova is the only lender on our list that doesn’t charge loan origination fees. For context, the fee is subtracted from your loan amount. So if you take out a $10,000 loan with a 3% origination fee, you receive the net proceeds of $9,700, and you pay interest on the gross proceeds of $10,000. Therefore, avoiding the fee is beneficial. On top of that, there are no application or prepayment fees, but Uprova does charge a $25 insufficient funds fee and often levies late payment fees. Also, please note that financing options are only available in 28 states.

Pros:

  • Uprova extends credit of $300 to $5,000.
  • Uprova’s personal loans have APRs of 34.5% to 35.99%.
  • There are no loan origination fees.
  • Checking your rate won’t impact your credit score.

Cons:

  • Late payment fees often apply.
  • A $25 insufficient funds fee often applies.
  • Financing is not available in all states.

The impact of COVID-19:

Although the pandemic didn’t affect Uprova’s policies, you can still inquire about potential loan deferments. To seek help, you can call Uprova at 1-866-362-3444.

UniversalCredit

Loan Amount: $1,000 – $50,000
APR: 8.93% – 35.93%
Min. Credit Score: 560
Approval: 1 – 7 Days
Terms: 3 – 5 Years
Fees:
  • Loan origination fee of 4.25% – 8%
  • There are no prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 560
  • Have a DTI ratio that doesn’t exceed 75%
  • Have recurring employment income or government benefits
  • Have a valid email address and bank account
  • Fill out your information through UniversalCredit’s online portal
Average Borrower Profile:
  • Has a credit score of 638
  • Has an annual income of $60,000
Best For: Low credit scores, high DTI ratios
Check rates

UniversalCredit is an affiliate of Upgrade, and the lender can help you obtain affordable financing. Loans range from $1,000 to $50,000, with APRs of 8.93% to 35.93%, and terms of three to five years. However, since UniversalCredit is friendlier to borrowers with weak credit scores, it’s a solid option if you’re on the borderline between fair and bad credit,

The average borrower has a credit score of 638 and an annual income of $60,000, and these are less than Upgrade’s metrics, which come in at 678 and $78,000, respectively. As a result, UniversalCredit is a lot like OneMain Financial because its approval process isn’t as strict.

To qualify, you need a minimum credit score of 560, and your DTI ratio can’t exceed 75%. You also need a valid email address and bank account. Borrowers incur loan origination fees of 4.25% to 8%. However, there are no prepayment penalties. Also, please note that Upgrade’s services are not available in Washington, D.C., Iowa, and West Virginia. Therefore, while UniversalCredit doesn’t list any state restrictions, it may deny applicants in similar regions.

Pros:

  • UniversalCredit can help you land a personal loan of $1,000 to $50,000.
  • Affordable APRs of 8.93% to 35.93% are available.
  • UniversalCredit accepts borrowers with lower average incomes and credit scores than Upgrade.
  • Flexible repayment schedules of three to five years are available.
  • Applying won’t impact your credit score.

Cons:

  • You incur a loan origination fee of 4.25% to 8%.
  • There may be some state restrictions.

The impact of COVID-19:

UniversalCredit doesn’t list any pandemic-related programs. However, since Upgrade provided loan assistance during the outbreak, UniversalCredit should have similar policies. To learn more, you can call UniversalCredit at 1-877-418-9765 or email support@universal-credit.com.

Can I Get a Personal Loan If I Have Fair Credit?

Yes. The lending market is highly flexible, and more lenders are opening their doors to borrowers with fair credit. Credit scoring models continue to evolve, making it easier for borrowers to get approved than in years past. Instead of just looking at your credit score, lenders now take a holistic approach and examine your entire financial situation. They look at variables like your work history, education, spending activity, and savings balance.

More importantly, fair credit APRs are capped at 35.99%.

How Much Can I Borrow and What APR Will I Receive?

Since fair credit borrowers often fall in the middle of the high-low range, you should be able to qualify for an APR of 10% to 15%. As mentioned, LendingTree’s July 2021 Personal Loan Offers Report found that borrowers with credit scores in the 640 to 679 range received an average APR of 22.74%. However, the top 10% of borrowers in this credit score range received an average APR of 10.94%. As a result, alternative metrics like your income, savings, spending habits, education, and rent history can help you obtain cheaper rates.

As for loan amounts, lenders usually extend up to $100,000. However, your qualifying amount often depends on your income. As a result, lenders should respond positively if you have a salary and cash flow that signals predictable repayment.

Do Credit Unions Offer Personal Loans?

Yes. Credit unions are similar to online lenders, and they have expanded their qualification criteria to compete in today’s marketplace. As a result, credit unions consider many factors, whether it’s your work history, education, spending activity, or savings balance.

For more information, please consult our marketplace. You’ll find several reliable lenders there, and you can even organize your search by state.

Do Banks Offer Personal Loans?

Some do, and some don’t. However, the ones that do often have high credit score requirements. For example, TD Bank and Wells Fargo offer personal loans, but their minimum credit score requirements are 700 and 660, respectively. Moreover, the average approved borrower often has an even higher credit score.

What’s the Difference Between a Secured and a Co-Signer Personal Loan?

A secured personal loan requires upfront collateral. For context, you can use your home equity, emergency savings, or any money you have saved for retirement. Similarly, a co-signer acts as a guarantor and promises to repay the debt if you default.

Both options are suitable if they result in better loan terms. However, it’s important only to make these commitments if you’re sure that you can repay the loan.

How Do I Find the Best Fair Credit Personal Loan?

To find the best personal loan in the shortest amount of time, we recommend that you try loan comparison sites. For example, Even Financial and Credible curate personalized offers with the highest chance of success. Moreover, they also have options for borrowers with bad credit.

If that fails, don’t give up. Tomorrow is full of new possibilities, and the more you work on your credit score, the more lenders will reward you for your efforts. And in no time, better offers will come your way.

Furthermore, it never hurts to try. You’d be surprised at how often lenders approve borrowers who assume they won’t qualify. As a result, please consult our marketplace to see what offers are available. Moreover, since applying doesn’t impact your credit score, you have nothing to lose by shopping around.

Loan Options For Borrowers With Borderline Credit Scores

If your credit score is below 600, other products may be more appropriate. For example, bad credit personal loans typically have APRs of 15% to 35.99%. However, companies like BadCreditLoans, ZippyLoan, and Avant often have higher approval rates, and our guide on the best bad credit personal loans can help you find the most suitable option.

Conversely, if your credit score is greater than 690, you may obtain an APR of 5% to 10%. Our guide on the best good credit personal loans reviews more than 20 lenders that issue credit to borrowers with good credit, and companies like SoFi and Marcus by Goldman Sachs don’t charge any fees. As a result, it’s wise to use your good credit score to your advantage.

Why Did We Select These Lenders?

We analyzed more than 100 lenders to determine which companies have the best products and the lowest APRs. And while fair credit scores are typically between 600 and 690, we wanted to provide options for borrowers at or slightly below the low-end of the range to make their search a little easier. Therefore, the products above cover the entire fair credit lending market, and should meet the needs of most borrowers.

Conclusion

If you have fair credit, you can still obtain an affordable loan with an APR of 10% to 15%. Most fair credit scores are well above lenders’ minimum requirements, so you shouldn’t have any trouble obtaining multiple offers. However, they key is to apply at several lenders and comparisons sites to uncover which companies offer the best rates. Since applying doesn’t require a commitment and won’t hurt your credit score, shopping around is the easiest way to lower your APR. As a result, we hope that our guide allows for a smoother search process.

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