Personal loans have become a go-to financial tool for millions of Americans. From consolidating high-interest debt to funding a major home renovation, they offer a flexible way to access cash when you need it most. The number of people taking out personal loans has grown significantly, and with that growth comes an explosion of lenders to choose from.
Finding a trustworthy lender in a crowded market can feel overwhelming. With so many options, how can you be sure you’re getting a competitive rate and fair terms? A great personal loan can be a powerful financial stepping stone, but the wrong one can lead to years of expensive debt.
This guide is designed to help you navigate the landscape of personal lending. We’ve analyzed dozens of companies to bring you a clear, unbiased list of the top 10 best personal loan companies in the USA for 2025. By reading this, you’ll gain a clear understanding of your best options and feel confident in choosing a loan that aligns with your financial goals.
How We Ranked the Best Lenders
To give you the most reliable recommendations, we evaluated each personal loan company based on a consistent set of criteria. These are the key factors that separate the best lenders from the rest:
- Interest Rates (APR): The Annual Percentage Rate is the total cost of borrowing, including interest and fees. We looked for lenders offering competitive APRs for a range of credit scores.
- Loan Amounts: Flexibility is key. The best companies offer a wide range of loan amounts, from small sums for minor expenses to large amounts for significant projects.
- Repayment Terms: We prioritized lenders offering various repayment periods, allowing borrowers to choose a timeline that fits their budget.
- Fees: Hidden fees can significantly increase the cost of a loan. We looked for companies with transparent fee structures, especially regarding origination fees, late fees, and prepayment penalties.
- Eligibility Requirements: We noted the minimum credit score and income requirements to help you identify which lenders are a good match for your financial profile.
- Customer Service: Access to reliable support is crucial. We considered customer service availability, online resources, and overall user reviews.
The 10 Best Personal Loan Companies for 2025
Here are our top picks for the best personal loan companies, chosen for their competitive offerings and customer-friendly practices.
1. SoFi: Best Overall
SoFi consistently ranks as a top lender thanks to its competitive rates, high loan amounts, and customer-centric benefits. It’s an excellent choice for borrowers with good-to-excellent credit who want a comprehensive, modern lending experience.
- APR Range: 8.99% – 25.81% (with autopay)
- Loan Amounts: $5,000 to $100,000
- Repayment Terms: 2 to 7 years
- Fees: No origination fees, late fees, or prepayment penalties.
- Unique Features: Offers unemployment protection, free financial advising, and a user-friendly mobile app.
2. LightStream: Best for Home Improvement
A division of Truist Bank, LightStream is famous for its “Rate Beat Program” and its focus on funding specific life projects, like home renovations or vehicle purchases, at excellent rates.
- APR Range: 7.49% – 25.99% (with autopay)
- Loan Amounts: $5,000 to $100,000
- Repayment Terms: 2 to 12 years (depending on loan purpose)
- Fees: No origination fees or prepayment penalties.
- Unique Features: Rate Beat Program promises to beat a competitor’s offer by 0.10 percentage points if you meet certain criteria.
3. Upstart: Best for Fair Credit
Upstart uses an AI-powered model that looks beyond just a credit score, considering factors like education and employment history. This makes it a great option for those with fair credit or a limited credit history.
- APR Range: 7.80% – 35.99%
- Loan Amounts: $1,000 to $50,000
- Repayment Terms: 3 or 5 years
- Fees: Origination fees from 0% to 12%.
- Unique Features: Its alternative approval model may help borrowers who are denied by traditional lenders.
4. Discover Personal Loans: Best for Debt Consolidation
Discover is a well-known financial name that offers personal loans with flexible repayment terms and a commitment to customer service, making it a strong contender for debt consolidation.
- APR Range: 7.99% – 24.99%
- Loan Amounts: $2,500 to $40,000
- Repayment Terms: 3 to 7 years
- Fees: No origination fees.
- Unique Features: Offers the option to pay creditors directly for debt consolidation loans and a 30-day money-back guarantee.
5. Marcus by Goldman Sachs: Best for No-Fee Loans
Marcus provides a straightforward, no-fuss borrowing experience. With no fees and flexible payment options, it’s an excellent choice for creditworthy borrowers who value transparency.
- APR Range: 6.99% – 24.99% (with autopay)
- Loan Amounts: $3,500 to $40,000
- Repayment Terms: 3 to 6 years
- Fees: No origination fees, late fees, or prepayment penalties.
- Unique Features: On-time payment reward allows you to defer one payment after making 12 consecutive on-time payments.
6. Happy Money: Best for Credit Card Debt
Happy Money (formerly Payoff) focuses specifically on helping people consolidate and pay off high-interest credit card debt. Its mission is to turn borrowers into savers.
- APR Range: 11.72% – 17.99%
- Loan Amounts: $5,000 to $40,000
- Repayment Terms: 2 to 5 years
- Fees: Origination fees from 1.99% to 4.99%.
- Unique Features: Designed exclusively for credit card consolidation with a focus on improving financial wellness.
7. Avant: Best for Fast Funding
Avant caters to borrowers with fair-to-good credit and is known for its quick and easy application process. If you need funds quickly, Avant can often deposit money as soon as the next business day after approval.
- APR Range: 9.95% – 35.99%
- Loan Amounts: $2,000 to $35,000
- Repayment Terms: 1 to 5 years
- Fees: Administration fee up to 9.99%.
- Unique Features: Fast funding and a user-friendly mobile app to manage your loan.
8. LendingClub: Best for Co-Borrowers
LendingClub operates as a peer-to-peer lending marketplace that connects borrowers with individual investors. It’s a solid option, particularly for those who want to apply with a co-borrower to improve their approval odds.
- APR Range: 8.98% – 35.99%
- Loan Amounts: $1,000 to $40,000
- Repayment Terms: 2 to 5 years
- Fees: Origination fees from 3% to 8%.
- Unique Features: Allows joint applications, which can help applicants with lower credit scores qualify for better rates.
9. PenFed: Best for Small Loans
PenFed Credit Union is open to everyone and offers competitive rates, especially on smaller loan amounts. It’s an ideal choice if you need a smaller sum of money and have good credit.
- APR Range: 7.99% – 17.99%
- Loan Amounts: $500 to $50,000
- Repayment Terms: 1 to 5 years
- Fees: No origination fees.
- Unique Features: Offers small loan amounts starting at just $500 and membership is open to anyone.
10. Prosper: Best for Peer-to-Peer Lending
As one of the original peer-to-peer lenders, Prosper has a long track record of connecting borrowers to investors. It provides a reliable platform for those comfortable with the P2P lending model.
- APR Range: 8.99% – 35.99%
- Loan Amounts: $2,000 to $50,000
- Repayment Terms: 2 to 5 years
- Fees: Origination fees from 1% to 7.99%.
- Unique Features: Offers joint loans and provides some flexibility in choosing your payment date.
Comparison of Top Personal Loan Companies
| Lender | Best For | APR Range | Loan Amount | Min. Credit Score |
|---|---|---|---|---|
| SoFi | Overall | 8.99%–25.81% | $5k–$100k | 680 |
| LightStream | Home Improvement | 7.49%–25.99% | $5k–$100k | 680 |
| Upstart | Fair Credit | 7.80%–35.99% | $1k–$50k | 600 |
| Discover | Debt Consolidation | 7.99%–24.99% | $2.5k–$40k | 660 |
| Marcus | No-Fee Loans | 6.99%–24.99% | $3.5k–$40k | 660 |
| Happy Money | Credit Card Debt | 11.72%–17.99% | $5k–$40k | 640 |
| Avant | Fast Funding | 9.95%–35.99% | $2k–$35k | 580 |
| LendingClub | Co-Borrowers | 8.98%–35.99% | $1k–$40k | 600 |
| PenFed | Small Loans | 7.99%–17.99% | $500–$50k | 680 |
| Prosper | P2P Lending | 8.99%–35.99% | $2k–$50k | 640 |
Note: APRs and credit score requirements are subject to change. Always check the lender’s website for the most current information.
How to Find Your Best Loan Option
Choosing the right personal loan comes down to your individual circumstances. Here’s what to consider:
- Know Your Credit Score: Your credit score is the single most important factor determining your APR. Check your score for free before you apply.
- Determine How Much You Need: Only borrow what you absolutely need to avoid unnecessary debt.
- Compare Multiple Offers: Don’t settle for the first offer you receive. Use pre-qualification tools, which don’t affect your credit score, to compare rates from at least three different lenders.
- Read the Fine Print: Pay close attention to fees. A low advertised APR can be misleading if the loan comes with a high origination fee.
Making Your Financial Goals a Reality
The right personal loan from a reputable company can be a smart way to manage your finances and achieve your goals. Whether you’re looking to simplify your debts with a loan from Discover or fund a major project with LightStream, the options on this list represent the best the market has to offer.
Before you apply, take the time to assess your financial situation, compare your options, and read all terms and conditions carefully. By doing your homework, you can secure a loan that provides the funds you need on terms you can afford.