Loan Companies Like SoFi, Prosper, FreedomPlus, LaurelRoad

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Last Update: October 20, 2024 Loan Reviews Loans

Since high-end APRs are for borrowers with bad credit, applicants with good credit should obtain APRs in the 5% to 10% range. Moreover, alternative factors like your income, savings, spending habits, education, and rent history can also tilt the scale in your favor.

As a result, we hope that our reviews will make your search a little easier.

Lender:Loan Amount:APR:Min. Credit Score:Best For:
SoFi$5,000 – $100,0005.74% – 20.28%680No-fee personal loans
Prosper$2,000 – $40,0007.95% – 35.99%640Obtaining multiple personal loans
Laurel Road $5,000 – $45,0007.00% – 24.75%660 – 700Debt consolidation
Happy Money$5,000 – $40,0005.99% – 24.99%550A stable credit history
FreedomPlus$7,500 – $50,0007.99% – 29.99%620Debt consolidation
Marcus by Goldman Sachs$3,500 – $40,0006.99% – 19.99%660No-fee personal loans
Discover$2,500 – $35,0005.99% – 24.99%660Debt consolidation
LightStream$5,000 – $100,0002.49% – 19.99%660Strong credit profiles
Wells Fargo$3,000 – $100,0005.74% – 19.99%660Wells Fargo customers
PNC Bank$1,000 – $35,0005.99% – 35.99%660Online and in-person service
Pentagon Federal Credit Union$600 – $50,0004.99% – 17.99%650High DTI ratios
TD Bank$2,000 – $50,0006.99% – 18.99%700Good to excellent credit scores
TransformCredit$3,000 – $7,000Up to 35.99%750Borrowers with cosigners

The lending market provides you with abundant options with a good credit score. However, options also present opportunities. For example, with many lenders competing for your business, you shouldn’t settle for a good personal loan. Instead, look to find a great one.

Our review includes some of the best personal loans for good credit to aid your search. Most lenders mandate a credit score of at least 650, and annual percentage rates (APRs) are as low as 2.49%. Moreover, since applying doesn’t hurt your credit score, it’s wise to shop around and see which lender will offer the best terms.

Furthermore, our marketplace can help you obtain the best good credit personal loan in the shortest amount of time. With a few clicks, you can browse dozens of lenders willing to help.

SoFi

Loan Amount:$5,000 – $100,000
APR:5.74% – 20.28%
Min. Credit Score:680
Approval:1 – 7 Days
Terms:2 – 7 Years
Fees:
  • There are no loan origination fees
  • There are no late payment fees
  • There are no closing fees
  • There are no prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 680.
  • Be employed, have an employment offer that starts in 60 days, or have recurring income from other sources.
  • Fill out your information through SoFi’s online portal
Average Borrower Profile:
  • Has a FICO Score of 753
  • Has gross income of $151,144
  • Has free cash flow of $5,696 per month
  • Borrows $31,634
  • Excellent credit scores incur an APR of 6.59%
  • Good credit scores incur an APR of 15.56%
Best For:No-fee personal loans
Check rates

SoFi can help you obtain an affordable personal loan with a fee structure that’s more attractive than many of its competitors. Like LightStream, you can borrow anywhere from $5,000 to $100,000. And SoFi’s APRs range from 5.74% to 20.28%, with terms of two to seven years. In addition, if you have a SoFi Money account or open one within 60 days of your loan application, you’ll earn a $10 bonus. Also, SoFi doesn’t have origination or late payment fees, and like Marcus by Goldman Sachs, it’s one of the few companies on our list that doesn’t levy these charges. As a result, if you’re in the market for a good credit personal loan, SoFi is an excellent place to start your search.

You need a credit score of 680 to qualify at SoFi, and the requirement is higher than most lenders on our list. Furthermore, the average SoFi borrower has a FICO Score of 753, so the lender’s underwriting standards may be stricter. However, like LightStream, applying won’t impact your credit score, so it doesn’t hurt to inquire.

Pros:

  • Like LightStream, SoFi’s personal loans range from $5,000 to $100,000.
  • SoFi’s financing rates range from 5.74% to 20.28%.
  • Flexible terms stretch from two to seven years.
  • Like Marcus by Goldman Sachs, SoFi doesn’t have origination or late payment fees.
  • Applying won’t hurt your credit score.

Cons:

  • Like LightStream and Laurel Road, you must borrow at least $5,000.

The impact of COVID-19:

SoFi’s Special Handling Team offered assistance to borrowers struggling to make their loan payments during the pandemic. If you find yourself in a similar situation, you can contact SoFi at 1-855-456-7634 to learn more about the options available.

Prosper

Loan Amount:$2,000 – $40,000