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In Atlanta, the demand for personal loans is on the rise, with many residents turning to loans to cover unexpected expenses or consolidate debt. Our mission is to provide the most comprehensive and up-to-date information on Atlanta loans so that you can make an informed decision. By comparing lenders and loan options, you can save money and find the loan that best fits your needs.
Finimpact is here to help you every step of the way, from finding the best lender to answering any questions you may have about the loan process. Trust us to guide you in the right direction and help you get the financial support you need.
LightStream — Best Overall Personal Loan
LightStream is our best personal loan overall because of their high loan amounts and the many repayment terms they offer. This provider advertises some of the lowest rates in the business, and offers an auto-pay interest discount, if you choose that payment option.
The amount you can borrow with a LightStream personal loan varies based on the loan purpose, yet amounts up to $100,000 are available and loan terms can be up to 20 years. These loans come with no origination fees and no hidden fees, and a generous .50% auto-pay discount is available. Borrowers who qualify can expect interest rates from 3.49% to 19.99% with auto-pay.
To qualify, you need to have good credit that includes several years of credit history, sufficient income and assets to support your existing debt obligations and requested loan amount.
LightStream also has an app where customers can make payments, apply for new loans, track payment due dates, and track loan balances.
The Bottom Line
LightStream loans offer some of the industry’s lowest interest rates and some of its highest personal loan limits. If you have strong credit, this lender is ideal for you.
Avant is a solid option for borrowers who need a small personal loan from $2,000 to $35,000. Avant has a mobile app that lets you track your repayment progress and make payments using your mobile device.
To qualify for a personal loan from Avant you’ll need a minimum credit score of 580. Consider these fair to poor credit loans if you need a smaller amount of $2,000 to $35,000, less an administration fee (similar to an origination fee) of 4.75%. Interest rates range from 9.95% to 35.99% based on creditworthiness, and the loans are repayable over 24 to 60 months.
The Bottom Line
Avant personal loans work for borrowers who need less cash than the other personal loan companies offer. Borrowers can get prequalified without a hard inquiry, and can get funds deposited in their bank account the next business day after approval.
SoFi offers personal loans, student loans, investing, and banking services. The personal loan personal loan comes with no origination fees and no hidden fees, which is ideal for borrowers who want to get a personal loan at minimal cost. SoFi also generous loan limits for those who qualify, and borrowers can check their rate without any impact to their credit.
SoFi offers personal loans in amounts from $5,000 to $100,000, and interest rates range from 5.99% to 21.78% with auto-pay depending on creditworthiness. Borrowers can repay their loans over 24 to 84 months, and there are no origination fees or hidden fees. While SoFi does not disclose their minimum credit score requirements, this company offers loans to individuals with good or excellent credit.
The Bottom Line
SoFi personal loans are perfect for borrowers with good credit who want to avoid origination or other fees. These loans also work well for borrowers who need a high loan amount, as well as those who already use other financial products from this financial services company.
Upgrade personal loans are available for up to $50,000, and you can get your loan funded in as little as one day. This makes Upgrade a smart option if you need an emergency loan. You can get prequalified without a hard inquiry to determine your approval odds before making a full application. Then, once you apply, get approved within minutes.
Personal loans through Upgrade come in amounts from $1,000 to $50,000, and borrowers can choose repayment terms that last from 24 to 84 months. Interest rates will fall between 5.94% to 35.97% depending on your creditworthiness. Also be aware that each Upgrade personal loan comes with an origination fee of 2.9% to 8%.
The Bottom Line
Upgrade personal loans can be funded as soon as the day after you apply. That makes them ideal for people who need a loan quickly , whether funds are required for a large purchase or an emergency expense.
OneMain Financial — Best for Loans with Bad Credit
OneMain Financial does not disclose their minimum credit score requirements. But, their loan options, interest rates, and terms make them ideal for borrowers with poor credit who may not get approved for other loans. Loan amounts are lower than some competing lenders offer, but OneMain Financial personal loans can still help you if you need access to cash. This company is also one of the few on our list that offers in-person branches you can visit if you need personalized help.
Borrowers who apply for a loan with OneMain Financial may get approved for from $1,500 to $20,000. Repayment terms are from 24 months to 60 months, and interest rates may fall between 18% and 35.99% depending on creditworthiness. An origination fee of 1% to 10% may apply, although applicants in some states may be asked to pay a flat fee instead.
The Bottom Line
If you have poor credit but you need a loan, OneMain Financial might be your answer. Interest rates and fees are high, but you could borrow up to $20,000, if you can prove your ability to repay.
When searching for a loan, it's important to be aware of scams and predatory lenders. These unethical companies often take advantage of borrowers in need, leading to high fees, hidden charges, and even larger debt problems. To avoid scams and predatory lenders in Atlanta, here are 7 practical tips:
Research the lender. Before applying for a loan, research the lender and check for any negative reviews or complaints.
Read the terms and conditions carefully. Make sure you understand all the terms and conditions of the loan before signing anything.
Watch for red flags. Be wary of lenders who ask for upfront fees, guarantee approval, or pressure you to sign quickly.
Compare multiple offers. Shop around and compare offers from multiple lenders to ensure you're getting the best deal.
Check for licensing. Make sure the lender is licensed to operate in Atlanta and in the state of Georgia.
Know your rights. Familiarize yourself with the laws and regulations surrounding loans in Atlanta and in Georgia.
Report any suspicious activity. If you suspect a lender is operating illegally, report them to the relevant authorities.
Checking for Hidden Fees and Charges in Personal Loan Offers
When shopping for a personal loan, it's important to be aware of hidden fees and charges that can significantly increase the cost of borrowing. To avoid being caught off guard, it's essential to know what to look for and how to compare loan offers.
Read the fine print
Make sure to understand all terms and conditions of the loan, including any fees and charges.
Ask about origination fees
Some lenders charge a one-time fee for processing the loan.
Check for prepayment penalties
Some lenders charge a fee if the loan is paid off early.
Look for annual fees
Some loans come with annual fees, so make sure to ask about these.
The APR includes all fees and charges, making it easy to compare loan costs.
Watch for variable interest rates
Variable interest rates can change over time, affecting loan payment.
Check for late payment fees
Late payment fees can add up quickly, so understand the lender's policy.
By following these tips, you can avoid hidden fees and charges in personal loan offers and find a loan that meets your needs and budget. Be an informed borrower and always do your research before signing a loan agreement.