Best Personal Loans in Georgia

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Jacinta Sherris
Contributor, Benzinga
September 25, 2023

Personal loans can give you quick access to a chunk of cash. Use a personal loan to roll credit card payments into 1 monthly payment or fund home renovations, your dream vacation and more. 

You have your choice of brick-and-mortar and online lenders and choosing the best option can be daunting. Benzinga’s done the work for you — check out our list of the best personal loans in Georgia.

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The Best Personal Loans in Georgia

It is increasingly important to be able to handle your finances online. Lenders have responded with great online loan options.

Here’s Benzinga’s list of the best personal loans from online platforms.

Best for Loan Comparison: Credible

Credible ranks high in functionality with its simple, streamlined platform. Credible isn’t a lender — it’s an online service that compares custom-fit personal loans. You can qualify in minutes to evaluate potential loans without hurting your credit score.

After a short survey, Credible connects you to offers from willing lenders. Compare each loan to find the terms and rate that make the most sense for you.

In addition to personal loans, Credible works with lenders that provide student loans and mortgages. Refinancing for mortgages and student loans is also an option.

You’ll find personal loan options from 6.99% to 35.99% APR with terms that range from 1 to 7 years. Loan amounts range from $600 to $100,000. 

***Disclosure: Requesting prequalified rates on Credible is free and doesn't affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.

***Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states. www.nmlsconsumeraccess.org.

Pros

  • Even though you don’t borrow directly from Credible, they offer a high level of customer support
  • There are other loan products that you could avail yourself of given your unique financial situation

Cons

  • Credible’s range of interest rates could seem unreasonably high in many cases

Best for Debt Consolidation: SoFi

SoFi is an online lender that can get you the money for home renovations, relocation assistance, medical procedures and more. 

You can also reconsolidate your debt with a SoFi loan. Consolidating your debt into 1 monthly payment can make it more manageable and help you avoid high interest payments.

SoFi’s online application process is simple. Qualify to see your potential loans with no effect on your credit report. Loans from $5,000 to $100,000 are available with flexible terms and a fixed rate.

SoFi is a fee-less lender. There are no origination fees, no pre-payments fees and no late fees. No fees means your loan costs are less and you can concentrate your money toward repayment.

Pros

  • You can borrow much more on this platform than you could from others
  • The platform aims to cut out as many extra costs as possible so that the overall value of your loan or what you pay can drop significantly

Cons

  • SoFi’s platform is so expansive that many people might not like using it because of how complex both the app and the website can be

Best for Emergency Loans: Avant

Avant is powerful online lender known for fast funding and low fees. When you apply with Avant, you can complete the entire process online, pay a low origination fee, never worry about a prepayment fee and manage your loan online. The website is easy to view even on a mobile device, and Georgia residents can take advantage of:

  • No collateral, unsecured financing
  • An online loan eligibility calculator
  • Loans that could be as high as $35,000
  • A range of loan terms that suit your situation

With a great customer service team and available funding for any number of situations, you can turn to Avant in an emergency, get the money you need and deal with repayment after the fact. Georgia residents can run their funding needs by this platform before heading to the bank or looking elsewhere. Plus, it works well for emergencies when you need quick cash for a specific purpose.

Pros

  • While there are origination fees, the platform aims to keep them as low as possible
  • You can choose loan terms that you feel will match your financial situation

Cons

  • While this platform works well for emergency loans, you may not feel you can borrow enough to make the loan worth your while

Best for Fair Credit Scores: LendingPoint

LendingPoint is an excellent option for Georgia residents because the firm is based in Georgia and offers several benefits, like:

  • Expedited funding
  • Flexible payment options
  • Solid mobile app
  • No prepayment penalties
  • Competitive rates
  • Affordable late fees

You can apply online to get a look at the rates that are available, and you can complete the application whenever you’re ready. Reach out to the customer service team for more information, and remember that you will likely pay an origination fee—but you can review that information with the platform before closing on the loan.

You can get a loan with terms from 2 to 5 years, and the loan can exceed $30,000 in some cases.

Pros

  • LendingPoint helps you connect with the sort of loan that is much closer to what you need than a one-off lender can provide
  • You can get your funds fast enough to actually deal with an emergency in real time

Cons

  • The level of funding can seem very low for many borrowers

Best for $0 Origination Fees: LightStream

LightStream, like many of its competitors, offers Georgia residents:

  • No collateral loans
  • No late fees
  • The possibility of same-day funding
  • An online application 
  • A quality mobile app

There are no monthly service fees and no origination fees when you borrow with LightStream. Plus, the company is highly rated by both Benzinga and the BBB. As the best of the $0 origination fee loan programs, you can choose from a vast range of terms and loan values. Also, it’s easy to reach out to the customer service team for more information on your application, loan balance or repayment.

Georgia residents can look to this platform when they need funding for several different situations like medical expenses, consolidating debt, emergencies, unexpected expenses, etc.

Pros

  • This platform allows you to get a loan on the go, which is especially helpful when you just don’t have time to sit down and apply
  • Low origination fees keep the loan value even lower, dropping your monthly payment and making it easier to close

Cons

  • Even though there are no fees, you may not get the level of funding you were hoping for

Personal Loan Considerations

Thinking about a personal loan? Consider the following:

  • Does the loan have lower rates than credit cards? 
  • Do you need a revolving credit line or a lump sum of cash? 
  • Can you repay the loan within the offered terms? 

If you need a lump sum and answered yes to any of these questions, a personal loan is likely a good option for you.

Some lenders do prey on unsuspecting borrowers. Use trusted resources for your personal loan and do your research before signing on the dotted line.

Find a Personal Loan Today

A personal loan could be the right choice if you’re short on cash for any number of reasons. Personal loans can provide a lower rate than other lines of credit and many lenders offer flexible, long-term repayment plans. 

Start with our list of recommended lenders to find the best personal loan today. 

Frequently Asked Questions

Q

What happens if I can’t repay my personal loan on time?

A

Make sure you can meet the given terms for a loan before accepting. If you miss a payment or pay late, you can face anything from late fees to collateral seizure.

Q

Can a personal loan help my credit?

A

If you handle your loan payments responsibility, it definitely can. Making on-time payments toward a personal loan can raise your overall credit limit and lower your credit utilization. This can help raise your credit score.