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Best Personal Loans in Springfield, MO

Discover the best personal loans Springfield, MO has to offer and secure your financial future. In Missouri, on-line personal loans can provide competitive interest rates, helping borrowers manage expenses and achieve their financial goals. Explore top lenders, compare options, and find the perfect...

Best Personal Loans in Springfield, MO
Daniel Lewis
Written by:Daniel Lewis
MBA accredited investment professional
Finimpact Affiliate Disclosure

Many or all of the products featured here are from our partners who compensate us. This may affect which companies we write about and where the company appears on a page. However, any analyses, or reviews expressed in this article are those of the author’s alone, and have not been approved or endorsed by any partner.

At Finimpact, we're committed to helping you find the best loans Springfield, MO has to offer. Our team has thoroughly vetted and reviewed each lender, ensuring they meet our high standards for quality, reliability, and competitive rates. Choosing the right loan is crucial, so we recommend comparing options and considering factors like interest rates, loan terms, and customer service. 

Best Personal Loans for 2023 reviewed by

Top Picks for Personal Loans in Springfield, MO

Top Personal Loans in Springfield, MO: Full Overview

Springfield, with a population of over 167,000, has seen steady economic growth in recent years, making it an ideal location to invest in your financial future. Trust Finimpact to guide you through the process of securing the perfect loan to achieve your goals in Springfield, MO.

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.

Low APRs for good credit
Loan amounts up to $100,000
Check your rate with no impact on your credit
Auto-pay discount available
Not available for borrowers with bad credit
Rates without auto-pay are .50% higher
Minimum loan amount of $5,000

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 — Best for Small Personal Loans

Avant — Best for Small Personal Loans

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.

Low loan amounts available
Check your rate with no impact on your credit
Mobile app available
Available for fair and poor credit
Administration fee up to 4.75%
Potential for a high APR
Lower borrowing limits than other lenders

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.

Try Avant

SoFi — Best for Loans with No Origination Fee


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.

Loan amounts up to $100,000 available
Check your rate with no impact on your credit
No origination fees or hidden fees
Unemployment protection offered
Same-day funding available
High minimum loan amount of $5,000
Not available for bad credit
Lowest rates require auto-pay

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.

Try SoFi

Upgrade — Best for Emergency Loans

Upgrade — Best for Emergency Loans

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.

Check your rate with no impact on your credit
Funding in as little as one day
Generous loan amounts available
Choose from flexible repayment terms
Origination fee charged on every loan
Potential for a high APR

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 — 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.

Available for bad credit borrowers
Visit 1,400 nationwide locations
Check your rate with no impact to your credit
Flexible repayment options
Lower loan amounts than other lenders
Potential for a very high APR
High origination fees likely

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.

Interest Rates and Loan Terms Explained: Crucial Factors for Personal Loans Springfield, MO

Interest rates are the cost of borrowing money and are generally expressed as a percentage of the loan amount. They can be fixed or variable, with fixed rates remaining constant throughout the loan term, and variable rates fluctuating based on market conditions.

Loan terms refer to the duration of the loan and the conditions under which the borrower must repay the loan. The loan term can impact the monthly payment amount and the total cost of the loan. When considering loans Springfield, MO, it is crucial to weigh both interest rates and loan terms to ensure that the loan best suits your financial needs and capabilities.

Fixed vs. Variable Interest Rates: Fixed interest rates are set when the loan is taken and do not change during the loan term. This offers stability and predictability in monthly payments. Variable interest rates may start lower than fixed rates but can change over time, impacting your monthly payments and making budgeting more challenging.

Shorter vs. Longer Loan Terms: Shorter loan terms typically have higher monthly payments but lower overall interest costs. Conversely, longer loan terms generally have lower monthly payments but higher total interest costs. Assess your financial situation and choose a term that strikes the right balance between affordability and cost-efficiency.

Prepayment Penalties: Some lenders impose penalties for paying off loans early. Before committing to a personal loan, inquire about any potential prepayment penalties and consider whether you may want to pay off the loan ahead of schedule.

APR vs. Interest Rate: The Annual Percentage Rate (APR) includes not only the interest rate but also other fees and charges associated with the loan. Comparing APRs can provide a more accurate picture of the total cost of borrowing.

Shop Around: Do your research and compare loan offers from multiple lenders in Springfield, MO. This can help you find the most competitive interest rates and favorable loan terms, ensuring you secure the best personal loan for your needs.

Mastering the Application Process: Essential Tips for Securing Personal Loans Springfield, MO

You can increase your chances of securing the funds you need. Understanding the factors that lenders consider when evaluating loan applications, such as credit scores, income, and debt-to-income ratios, can help you position yourself as a reliable borrower. Additionally, being aware of the various types of loans available in Springfield, MO, and their respective terms and conditions can enable you to select the loan product that best fits your financial needs.

By gathering all the necessary documentation, polishing your credit score, and conducting thorough research on potential lenders, you can confidently approach the application process and maximize your chances of securing personal loans Springfield, MO.

  • Check Your Credit Score: Your credit score is a major factor that lenders consider when determining your eligibility for loans Springfield, MO. Obtain a copy of your credit report, review it for accuracy, and address any errors or discrepancies to improve your credit score before applying for a loan.
  • Gather Necessary Documentation: Lenders typically require proof of income, employment, and other financial information. Assemble all necessary documents, such as pay stubs, tax returns, and bank statements, to streamline the application process and demonstrate your financial stability.
  • Compare Loan Options: Research various lenders in Springfield, MO, and compare their loan products, interest rates, and terms. This can help you identify the most competitive offers and choose a loan that aligns with your financial goals.
  • Consider a Co-signer: If you have a lower credit score or limited credit history, consider asking a trusted friend or family member with a strong credit profile to co-sign the loan. This can increase your chances of approval and potentially secure more favorable loan terms.
  • Beware of Scams: Be cautious of lenders offering loans Springfield, MO with too-good-to-be-true interest rates or terms. Verify the lender's legitimacy by checking their licensing and online reviews, and avoid sharing sensitive personal information with unverified sources.

About the Author

Daniel Lewis

Daniel Lewis

MBA accredited investment professional

Daniel Lewis is an MBA accredited investment professional who wants to assist small business owners to gain access to finance.

More about me

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