Personal Loans: The Best 15 InThe United States


Personal loans can help you achieve your financial goals.

At Camino Financial, we have evaluated and compiled the best online loans with 15 lenders in the United States so that you can compare their benefits and features.


1. Requirements to obtain a personal loan

2. How to get personal loans

3. The best 15 personal loans


4. Where they can lend you money easily and quickly

5. Types of personal loans

6. What do lenders look for to approve a loan?

7. Is it good to ask for a loan for personal use?

8. The best alternative to obtain the capital you need

9. Frequently asked questions about personal loans

Personal financial products have a variety of purposes, whether you want to consolidate your debts, pay off credit card debt, make home repairs, cover the expenses of a family vacation, or pay off a large or unexpected expense upfront.

This type of loan may work for you for several reasons:

  • Generally,  it is easier to qualify for personal than business credit.
  • There are fewer requirements overall, and it involves less paperwork.
  • Many lenders do not require a high score.
  • However, you may receive better interest rates if you have strong credit.
  • Several loan options are available (but not all) that do not require collateral or collateral, meaning you don’t need to secure the loan by risking your personal property or assets.
  • Interest rates and the monthly payment are usually fixed to help you plan your monthly expenses.
  • The approval process for this type of loan is much faster than for business loans (online money loans can be even faster).
  • Approval is usually not governed by your credit score.

Remember that the maximum amount on most loans is around $40,000, with a few lenders going for higher amounts.

However, if the limited amount meets your needs, a personal loan could be your best option.


We recommend you check your credit history with a credit bureau, so you can make sure you apply for a loan that’s right for you.

Requirements to obtain a personal loan

These are the four most common requirements to obtain a personal loan in the United States:

  • Credit history and credit score:  It is necessary to have a credit history, and they usually request more than 600 points.
  • Income guarantee:  Lenders will request that you have a minimum annual income, and you must present supporting documentation.
  • Debt-to-income ratio:  Lenders measure your ability to pay by considering several variables. To be eligible, your index must be at least 50%.
  • Social Security Number:  Most lenders will require you to have an SSN, although there are options that accept ITINs.
  • Collateral:  Homes, vehicles, and other assets are used to secure the loan payment (this only applies to secured loans).

Depending on the lender, they may ask you for more or fewer requirements. For example, Camino Financial has very few easy requirements to meet.

How to get personal loans

Follow the steps in this guide to get a loan, or see the shortlist below.

  1. Establish a budget:  Before applying for a loan, assign a goal and the amount to cover your financial needs. Refrain from diverting the capital for other tasks.
  2. Investigate:  Know the characteristics and requirements of different loans and financial institutions. Choose the lender that best suits your payment possibilities.
  3. Gather the documentation:  Order and update your personal documents physically and digitally. If you need one, it is better to wait to get it; remember that rejections will also be reflected in your credit history.
  4. Apply:  Now that you have the information, complete an application online or in person.
  5. Wait for approval:  Traditional banks can take several weeks to approve an application, while online lenders respond in a few days.

Once you’re approved and sign your contract, remember to manage cash wisely.

The best 15 personal loans

We have compiled the 15 best personal use loans to offer you a complete guide to the terms and characteristics of each one.

Make sure you find the right one by considering the maximum amount, interest rate, term, and other relevant features.

We added several options of best banks for ITIN loans for all those who do not have SSNs. 

financial path

To help everyone at Camino Financial, we created a new product, one of the best personal loans in the USA.

With the personal loan, you can receive between $1,500 and $7,500 with fixed monthly payments, and we offer a lot of flexibility in what you can spend the money on.

Requirements for Personal Loans from Camino Financial

This new financial product is designed to help everyone: you can apply with your ITIN if you need an SSN!

This is because we want to ensure that everyone in the Latino community, regardless of their immigration status, can access the capital they need.

Our APR is at most 53%, and we offer payment periods between 12 and 36 months. So you can achieve your financial independence sooner than you thought!

The best thing is that the process is 100% online, without paperwork, and very fast.


With loans from $300 to $10,000, Oportun is an online loan financier offering excellent options to borrowers with no credit history or a low score.

This company provides loan services to the Latino community and accepts borrowers without a Social Security Number and only with an Individual Taxpayer Identification Number or ITIN.

Your APR never exceeds 36%.

This is great for covering unexpected expenses or cash shortages since the funding process usually happens on the same day.

Borrowers have between 6 and 46 months to repay the loan, making Oportun loans a great option for short-term cash needs.

They also have a secured loan (which requires collateral) for people who don’t have a great credit score but don’t want to pay very high interest.

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OneMain Financial

OneMain Financial is one of the best loan options for applicants with only an ITIN.

It offers loans for applicants with low credit scores, ranging from $1,500 to $20,000, with options with and without collateral and terms ranging from 24 to 60 months.

If you need to pay your cards or manage your business expenses, it has solid experience granting loans to its clients. Annual interest rates range from 18% to 35.99%.


If you have a strong credit score, SoFi offers extremely competitive rates for long-term loans. It’s a trusted resource for refinancing student loans or other large expenses, with loans that last two to six years.

With a maximum loan amount of $100,000 and rates between 5.99% and 18.72%, Sofi is an excellent solution for creditworthy borrowers to consolidate their debts or pay large expenses.

Citizens Bank

This is an excellent option for consolidating debt, with loan options available for between $5,000 and $50,000.

Citizens Bank requires a minimum credit score of 680, making it ideal for those with an established credit history.

There are no setup or prepayment fees; you can choose between 36 to 72-month terms. Annual interest rates are affordable as they vary between 6.79% and 20.89%.


Prosperity can be a good option if you need to cover large purchases or consolidate debt, with annual interest rates ranging from 6.95% to 35.99%.

Depending on your credit, you can borrow between $2,000 and $40,000. However, remember that this lender charges an origination fee, which ranges from 1% to 5% of the total loan amount.

It is a good solution for those looking for a repayment term of between three and five years.

Best Egg

For those with solid credit, Best Egg offers low annual interest rates ranging from 5.99% to 29.99%. The minimum credit score to apply is 640, and amounts range from $2,000 to $35,000.

These quick loans suit people with medium to excellent credit and a median annual income of $60,000 or more.

Many people use Best Egg loans for personal and business expenses and home improvements.


With fixed rates and simple term options, Payoff is a great personal loan option that allows you to consolidate credit card debt.

They offer between two and five years to repay the loan, between $5,000 and $35,000, with interest rates between 5.65% and 22.59%.

Remember that this lender charges origination fees of up to 5%, but no other common fees are associated with a loan.


Upstart is an online lender with affordable interest rates between 8.13% and 35.99%, saving borrowers up to 24% compared to credit card rates.

With Upstart, there is no prepayment penalty, and it also offers an easy application process for loans up to $50,000.


Goldman Sachs Banks offers Marcus personal loans for creditworthy applicants, with annual interest rates between 6.99% and 19.99%.

This is one of the most competitive options if you are looking for a fixed interest rate and no origination fee.

You can use the funds to pay your business expenses or whatever you need for cash flow, with loan term options from 36 to 72 months.

Laurel Road

This online lender offers competitive terms for small and medium-sized businesses.

Laurel Road offers you low rates and flexible terms and conditions, but if you need money fast, you can get approved in two days and receive your money in just two more.

It has an easy-to-use online application and payment calculator.

You can also receive discounts if you sign up for AutoPay directly from your bank to make payments.


We do not recommend applying with multiple lenders simultaneously, as this can damage your credit score. It is better to inform yourself so that you make only one application with the right lender.


To continue, when you request personal credit through Upgrade, you will know if you are approved in a matter of minutes.

This online lender offers very reasonable terms and conditions to receive personal loans up to $35,000 without collateral. Their rates are low and reduced; you can make monthly payments within your pocket.

There are no penalties if you decide to pay off your loan early. As a customer, you can monitor your credit and access educational resources to manage your finances better and control your credit score.

Lending Tree

Lending Tree is a  marketplace that allows you to search for the best loan rates. Numerous lenders use Lending Tree to connect with a variety of borrowers.

Given the variety of lenders, you will likely find a personal use loan that best suits your needs.

Lending Tree allows you to select the use you intend to give the personal loan so that you can find the one that best suits your goals.

Lending Club

You have numerous options to find personal loans without credit from various sources.

Lending Club is a  peer-to-peer platform; that connects those looking for loans with potential investors. You can get reasonable terms and conditions through Lending Club, even with a low credit score. It usually takes about seven days from applying until you receive your money in your bank account. The maximum loan amount is $40,000.

Rocket Loans

Rocket Loans could be considered urgent personal loans since it guarantees a fast application and approval process so you can get your money quickly.

It also gives prospective borrowers access to financial support to answer questions and guide them through the process.

In addition to taking pride in the simplicity of its system, Rocket Loans also caters to a wide range of people, so you’re likely to find money loans with terms that fit your circumstances.

Penfed Credit Union

This bank grants you free investment loans for up to 60 months. They lend you up to $50,000 with rates oscillating around 5.49%, and they do not charge you penalties for early payments. 


This well-known bank has personal loans of up to $30,000, APRs from 7.99% to 23.99%, and payments of 12, 24, 36, 48, and 60 months. The great advantage of Citibank is that it allows you to apply with ITIN.

PNC Bank

PNC Bank offers personal loans between $1,000 and $35,000 with a fixed APR. The disbursement is given only once, and you are not required to provide assets as collateral. You can request it online, and they do not charge you penalties for early payments. 

Where can you lend me money easily and quickly?

online loans

The advantages of this type of loan are: 

  • You do not need to do it in person.
  • You can allocate the money according to your will.
  • The range of money is very variable. 

At Camino Financial, we have loans from $1,500 to $7,500 with monthly payments at a fixed interest between 12 and 36 months.

After filling out a very quick and simple application, you could receive your money in 2 days. 

Our options have helped many people like you build a stronger, brighter future. 

payday loans

These credits are very popular options since being approved is very simple. The lender will generally not review your credit history.

There are two big disadvantages to this type of loan:

  • They offer relatively small amounts (not even a thousand dollars)
  • They are very expensive; annual fees can be in the triple digits. 
  • They can end up being a debt that will cause you financial problems.
  • The lender usually makes direct withdrawals from your bank account.

cash advances

Your credit card can also bail you out, as many will allow you to get a cash advance directly from an ATM. 

Just remember to study the APR, fees, and additional late fees.

Keep in mind that cash advances are often very expensive.

Types of personal loans

unsecured loans

It does not request a guarantee or collateral to guarantee the loan. If you miss your payments, it will greatly affect your credit score.

They are generally exclusive for people with an excellent credit history and a score greater than 670 points. However, some lenders, such as Camino Financial, have flexible requirements and do not ask for collateral.

secured loans

To access this option, you will need an asset that will work as a guarantee (called a guarantee or collateral); it can be a car, savings account, or shares.

The interests are usually lower because the guarantee secures the payment.

Fixed Rate Loans

These loans’ interest rates and monthly payments are fixed throughout the agreement term. This way, you will know if the financing adjusts to what you are looking for and payment possibilities from the moment you apply.

Variable Rate Loans

At the beginning of the agreement, the interest is low but can be modified anytime. The most convenient thing with this loan is that you pay it off as soon as possible to prevent the debt from increasing.

What do lenders look for to approve a loan?

When applying for a loan, financial institutions pay special attention to ensuring that the applicant can fully cover the credit or loan granted.

In other words, they make sure that you will be able to afford it.

Subsequently, before approving any financing, they conduct an exhaustive analysis to consider certain factors, which we will explain below.


What does it mean?

Capacity is what measures your (real) ability to repay a loan.

Your ability to pay is analyzed by comparing your monthly income with your fixed payments (in essence, they calculate the relationship between your debts and your income).

This ability is reflected in a percentage indicating whether your debt relationship is healthy.

Because it is important?

The lower your percentage, the easier it will be to meet this requirement.

  • If you are above 50%, it is difficult for them to grant you a loan.
  • If the range oscillates between 36% and 49%, they will request additional requirements to grant it.
  • If you are below 35%, the lenders will approve this factor without problems.

How to calculate the relationship between debts and income?

To calculate your debt-to-income ratio, follow these steps:

  1. Add up all your fixed monthly payments, such as rent, credit cards, and other financing (car, mortgage, for example).
  2. You must divide the result between your monthly income.
  3. Finally, multiply the result by 100.


What does it mean?

Also called a guarantee, it is a guarantee of payment that you will present to the financial institution from which you will request the loan. Your goods or assets will serve this purpose. 

You can use properties such as houses and apartments, cars, and savings accounts, and even some lenders accept jewelry or collectibles.

If you fail to pay the financing, this asset will be seized and used to settle the debt. 


Do not put your heritage at risk; the recommendation to avoid reaching this situation is to pay promptly. Or, better yet, get a loan that requires no collateral.

Because it is important?

Getting a loan with collateral (called a secured loan ) allows for better interest rates and rates for people with not-so-good FICO scores. 

This happens because your assets already guarantee the loan payment. 


What does it mean?

This term refers to the money that a company or person has to invest and multiply its resources.

It’s another way a lender can know if you can repay the loan.

This requirement is presented to lenders through savings accounts, investments, retirement funds, and down payments for houses, apartments, or other assets.

Because it is important?

When applying for a loan, having capital allows you to demonstrate solvency before any financial institution.

In this way, in an economic, health, family, or work crisis, the lender is certain that you have the necessary resources to pay off the debt and meet your financial commitments.


What does it mean?

They are the particular circumstances of each application and each applicant. Three relevant factors come into play in this regard:

  • What will you use the loan for? It is a sign of a lack of seriousness and economic certainty if you do not have an established, clear, and well-thought-out objective.
  • The economic situation and market conditions. An excellent example is the bad economic indicators generated by the Covid-19 pandemic. Fewer loans were lent during this crisis.
  • Particular factors of the loan. Lenders won’t approve the loan if you borrow for something that might be considered risky.

Because it is important?

Financial institutions must consider all the factors that may prevent the borrower from paying his debt, whether they depend on him or not.

It is simple damage prevention.

credit and history

These concepts are simpler than you think.

  • Credit history is the record of your credit management since you obtained your first financing.
  • The credit score is the rating that credit management deserves.

The parameters are established by the different private companies dedicated to this work. These resources work to make lenders aware of your credit management.

How to get your credit report and credit score?

To obtain this information, it is optional to work in a financial institution; anyone can access this data.

On the websites of companies like TransUnion, Experia, and Equifax, you can access your credit report for free once a year.

The simple process will give you greater certainty about your true financing possibilities.

There are also platforms like Credit Karma that will give you your score for free.

What does the credit score mean?

Next, we will tell you what each type of score means:

  • 750 to 850: your score is excellent, and you shouldn’t have problems obtaining credits at very good prices.
  • 700 to 749: Your score is good, and it will be easy to access the capital you need.
  • 650 to 699: Your score is fair but won’t hinder approval.
  • 550 to 649: Your score is considered bad, and you could find loans with high fees.
  • 300 to 549: your score could be better, and, likely, you will not be approved for the credit you need.

What banks lend without a credit history?

Banks are generally very traditional entities that make risk decisions based on credit reports. 

Is it a good idea to ask for personal use loans?

You must know that debts are sometimes good.

As long as they allow you to achieve your goals and don’t hurt your finances, getting into debt (which takes the form of a loan or a credit card, for example) is a good strategy.

It all depends on your plan for the loan and whether it will be a good investment.

It would help if you also ensured the loan has low-interest rates. We recommend receiving financial support for personal loans because if you have a good credit score, it will be easier for you to get better interest and, consequently, a cheaper loan.

Can I use them for my business?

In reality, many people obtain fast and reliable personal loans to finance their business needs.

While this is a good practice (especially for newer businesses), getting a business loan is always best if you’re serious about investing in your business.

Because? Well, business loans will offer you larger amounts that will allow you to grow your business.

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