To apply for a LightStream personal loan, go to LightStream's website and click "Apply Now." You will then have to fill in personal information, such as your name, address and Social Security number, plus financial information like your income and housing status.
You cannot apply for a LightStream personal loan over the phone or by mail.
Applicants need a minimum credit score of 660 to get a personal loan from LightStream. That means the LightStream personal loan credit score requirement is in the fair-to-good credit range, which is on par with most other major personal loan companies.
LightStream’s requirement is relatively easy for most people to meet. The … read full answeraverage credit score is above 660. However, a credit score of 660 will not guarantee that you can get a personal loan from LightStream. One of the other major factors is your income. LightStream does not disclose a minimum. But you will need a steady source of income to get approved. In addition, LightStream will consider other factors such as your recent credit inquires, existing debts, number of open credit accounts and more.
It’s also important to note that while a credit score of 660 gives you a decent chance to be approved for a loan from LightStream, a score that just barely qualifies for approval will likely result in a high APR. LightStream offers loans with APRs as low as 3.99% in some cases. But their highest APR is 17.29%. People with a score of only 660 are likely to get a rate at the top of that range. In addition, while LightStream offers loans ranging from $5,000 to $100,000, people with credit scores right on the borderline of approval will have a difficult time getting approved for high loan amounts.
It takes 1 to 2 business days to get money from a LightStream personal loan, in most cases. That includes both the time it takes to get approved and the time it takes for the funds to be delivered after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.… read full answer
How to Get Money From LightStream as Fast as Possible
Fill out the application carefully. You should make sure that all information you enter on the application is correct and complete. That will eliminate any potential delays from LightStream having to request additional information.
Check your credit report for errors. Before you apply, you should verify that everything on your credit report is accurate, as any incorrect negatives on there could impact your chances of approval. If you find any errors, you should dispute them right away to get them removed.
Get your credit score above the minimum. Ideally, you should only apply for a LightStream personal loan once your credit score exceeds the minimum requirement of 660. That will make it easier for LightStream to decide whether you qualify, which could lead to a quicker decision.
Once you get approved for a LightStream personal loan, the money will be delivered through an electronic funds transfer to your bank account.
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