Where can I get a loan in Montana?

The easiest banks to get a personal loan from are USAA and Wells Fargo. USAA does not disclose a minimum credit score requirement, but their website indicates that they consider people with scores below the fair credit range (below 640). So even people with bad credit may be able to qualify.… read full answer

Wells Fargo normally requires a credit score of 660 for their unsecured personal loans. However, they also offer secured personal loans that are available even with lower scores. Wells Fargo’s secured loans require collateral in the form of money in a Wells Fargo savings account or CD.

Most banks that offer personal loans require a credit score of at least 660. Some require even higher scores, like Citizens Bank (680) and Barclays (700).

Easiest Banks to Get a Personal Loan From:

• USAA: Will lend to people with less than fair credit (scores below 640)
• Wells Fargo: 660 minimum credit score for unsecured; no minimum for secured
• American Express: 660 minimum credit score
• Discover: 660 minimum credit score
• TD Bank: 660 minimum credit score for existing customers (750 for non-TD customers)

These credit score requirements are either official info from the lender or the consensus of third-party sources.

The average person’s credit score is over 660, which puts them in a decent position to qualify for a personal loan from most banks. But if your score is lower, you can apply with USAA or get a secured loan from Wells Fargo.

You might also want to look outside of banks. Some credit unions and online lenders offer better chances of being approved with bad credit. For example, Avant’s minimum score requirement is reportedly 600 and LendingPoint’s is 585.

You can get a personal loan from a bank, a credit union or an online lender. The key to getting a personal loan is to do your research, both on the loan providers and the terms of their offers. WalletHub makes it easy to compare personal loans and has user reviews for lenders big and small. Once you’ve decided on the right loan for you, WalletHub can bring you directly to its secure online application.… read full answer

Below, you can get to know the major players and see where most other consumers have gotten their personal loans.

Popular Personal Loan Companies:

• American Express
• Avant
• Discover
• LendingClub
• Lightstream by SunTrust Bank
• Marcus by Goldman Sachs
• Prosper
• SoFi
• Wells Fargo

Before applying for a personal loan, you may also want to check for pre-qualification. If you are pre-qualified for a personal loan, your chances of actually being approved are very high but not guaranteed. Pre-qualification uses a harmless soft inquiry while actually applying for a loan triggers a hard inquiry that may temporarily lower your credit score. You can use WalletHub’s free tool to check your pre-qualification status with multiple lenders at once.

On that note, your credit score will affect where you can get a personal loan. Big banks tend to offer loans to people with good or excellent credit. Credit unions, which have a more personal connection with their clients, are more likely to offer personal loans to applicants with lower scores. Online lenders are the newest players, and some of them offer bad credit loans as well.

Now that you know where to get a personal loan, it’s also important to take note of where NOT to get a personal loan – a payday lender. Payday loans go by many names, including payday advances, payroll loans and cash advance loans. With this type of loan, the lender lets you borrow money against your next paycheck. Since payday loans are short-term, the finance charges are incredibly high to ensure the lender makes money. Lenders usually charge a fee on the borrowed amount that is equivalent to an APR of over 300%-600% in most cases. It’s best to avoid these types of loans altogether.

The best place to get a small personal loan is Discover. Personal loans from Discover let you borrow as little as $2,500, have APRs of 5.99% - 24.99% (depending on your creditworthiness), and have repayment periods of 36, 48, 60, 72 or 84 months. Applicants generally receive a decision the same day they apply and can get the funds as soon as one business day after approval. You’ll need at least a 660 credit score to qualify, according to third-party sources.… read full answer

Best Places to Get a Small Personal Loan

• Discover. Loans as small as $2,500. APRs of 5.99% - 24.99%. Repayment periods of 36, 48, 60, 72 or 84 months.
• Citibank. Loans as small as $2,000. APRs of 7.99% - 23.99%. Repayment periods of 12, 24, 36, 48 or 60 months.
• PNC. Loans as small as $1,000. APRs of 5.99% - 32.24%. Repayment periods of 12 - 60 months.
• TD Bank. Loans as small as $2,000. APRs of 6.99% - 18.99%. Repayment periods of 12 - 60 months.
• Avant. Loans as small as $2,000. APRs of 9.95% - 35.99%. Repayment periods of 24 - 60 months.
• Best Egg. Loans as small as $2,000. APRs of 7.99% - 35.99%. Repayment periods of Up to 60 months.
• LendingClub. Loans as small as $1,000. APRs of 7.04% - 35.89%. Repayment periods of 36 or 60 months.
• LendingPoint. Loans as small as $2,000. APRs of 7.99% - 35.99%. Repayment periods of 24 - 72 months.
• Prosper. Loans as small as $2,000. APRs of 6.99% - 35.99%. Repayment periods of 24 or 36 or 48 or 60 months.

To read more about the top-ranked offers, check out WalletHub’s complete picks for the best small personal loans. Then, you can estimate your potential rates with our free pre-qualification tool.

Other Places to Look for Small Personal Loans

Local credit unions are a good option if you’re looking for a loan below $1,000, as credit unions tend to be more willing to lend small amounts of money. Even people with bad credit may be able to get a small unsecured personal loan from a credit union.

You will need to be a member to qualify, but you should be able to join a credit union where you live for free. Alternatively, several large credit unions, such as Alliant, Connexus and PenFed, offer memberships to anyone in the U.S. who makes a small donation. This assumes the applicant doesn’t already qualify for a free membership.

Banks and online lenders may also offer small personal loans. However, some lenders offer minimum loan amounts of $3,000+, which may be too large of a loan for you.