Quick Look: The Best Personal Loans in Iowa
- Best for Bad Credit: Integra
- Best for Comparing Lenders: Credible
- Best for No Origination Fees: SoFi
- Best for Quick Funding: Figure
- Best for Flexible Terms: Rise
Competition among financial institutions is fierce in Iowa. The state ranks No. 1 in banks and credit unions per capita, so your search for a personal loan lender can be daunting.
Benzinga’s done the work for you. Check out our list of the best personal loans in Iowa to get started.
Table of contents [Show]
Best Personal Loans in Iowa
You might conduct much of your financial business online already. Why not add loans to that list? The sheer number of vetted online lenders means you have a high chance of finding a loan that fits your needs.
Start with our list of the best online lenders for personal loans.
Integra Credit makes it easy for anyone to get a loan, even if you don’t have the best credit. You can apply online, read about how to better manage your finances, get a quick decision, sign your documents online and get funded in short order.
Your money is sent directly to your bank account, and you can also enjoy a few other features:
- Flexible payment options
- Flexible loan amounts and terms
- Lines of credit are also available
Your rates and terms may vary depending on your credit situation, but this is a welcoming platform that can help families, agricultural workers, farmers, local businesses and more access cash and make the most of their financial futures.
99.99% – 300.99%
6 – 18 months
Integra Credit offers personal loans to people with bad credit. While it is not considered a payday lender, its Annual Percentage Rate (APR) puts it in the same category. The loans are ideal for people who need cash in a hurry and don’t have the option of getting a loan from a lender with lower rates.
Integra’s website warns borrowers that it provides an expensive form of credit, so borrowers should be certain that they don’t have access to less-expensive loan products before agreeing to a loan from this company. Integra is a brand name that represents the following lenders:
- Deinde Group, LLC
- Deinde Financial, LLC
- Deinde Online Services, LLC
- Integra Credit One, LLC
- Integra Credit Two, LLC
- Integra Credit Three, LLC
- Integra Credit Four, LLC
- Integra Credit Five, LLC
- Transportation Alliance Bank, Inc. (TAB)
- People with bad credit
- No hard-pull credit check
- Instant decision and funding the next day
- High APR rates
- Only available in some states
Credible scores points with borrowers for its easy-to-use platform and transparent comparisons to other potential lenders.
It’s a free online service to compare personalized loan offers from multiple vetted lenders.
Credible can connect you with lenders for student loans and mortgages. You can also refinance either type of loan or secure a personal loan.
You’ll find personal loan options starting at 5.99% APR with terms ranging from 2 to 7 years. Loan amounts range from $5,000 to $100,000.
This means you can use Credible to find a personal loan for larger expenses like home improvements and weddings or smaller costs like car repairs.
If you carry a high balance on your credit cards, paying them down gets difficult as interest compounds. You can use a personal loan to consolidate your debt into 1 monthly payment. Personal loans often have a lower interest rate than credit cards, so debt is made more manageable.
SoFi offers personal loans for credit card consolidation, home improvements, relocation assistance, and medical procedures. A personal loan from SoFi has no origination or prepayment fees. The online application process is easy and you can prequalify to see how likely your approval odds are without affecting your credit. You can borrow anywhere from $5,000 to $100,000 with flexible terms and a fixed rate.
You can also apply for a mortgage or home equity loan with SoFi. Investment accounts (including cryptocurrency investing), savings accounts and insurance are also available once you’re a client.
Figure offers personal loans in an all-online format that allows you to get started as quickly as possible. The firm offers competitive rates and quality customer service throughout the process, and they even offer gift cards to customers who refer friends and family to their personal loans department. This is a good place for Iowans to look when they and those around them need swift and simple funding.
Plus, Figure also offers:
- Financing up to $50,000
- Multiple fixed-term options
- Low fees
- Quick funding
Consider Figure when you want to take out a personal loan to addressing an emergent situation or an expense that you don’t want to pay out of pocket all at once. There’s less waiting around, and you can even earn a bit of that money back through referrals.
Between 5.99% and 15%; autopay discount of 0.25%
Between 0% and 5% (dependent on state and local laws)
Fixed-rate loan terms of 3 or 5 years
Figure’s online personal loan application process eliminates the painstaking process of following up your paperwork to scan or send to the lender. With an entirely online application, you can get your prequalification rate without impacting your credit score. You’ll get approval within a few minutes and await funding in as little as 2 business days — up to $50,000 you can direct toward what matters most.
Figure personal loans come with multiple fixed term options so you can map out your payment schedule so that it doesn’t strain your finances. Figure also offers some perks for spreading the word out to others. You’ll receive a $150 gift card for every friend you refer, and they too will get a $150 gift card when their loan funds.
Figure’s home equity line of credit lets you turn your home equity into up to $250,000 cash in as few as 5 days. Rates start as low as 2.88% APR1, and you can choose among 5-, 10-, 15- and 30-year fixed term options. You can also get up to $500,000 cash-out in mortgage refinance, all with custom rate and payment options.
While you can easily land better rates with a higher credit score, Figure also has options for applicants with less than perfect credit. You may secure a HELOC with a credit score as low as 620 (except in Oklahoma where the minimum is 720).
- Online loan application
- Unsecured loans
- Affordable loan fees
- 100% online application
- Quick funding
- Competitive rates
- Stellar customer service
- Multiple fixed term loan options
- A gift card for every referral (personal loan only)
- Personal loan offered in all 50 states
- Products not available in some states
- Personal loans capped to $50,000
With Rise, you can borrow $500 to $5000, enjoy a risk-free guarantee and borrow on your terms. You can also take advantage of credit tracking that will help you improve your financial picture. This can be especially helpful for Iowans in rural areas, those who manage their own businesses, anyone who has been hit by unexpected expenses, etc.
The process is simple because you can:
- Apply online
- Choose your terms and amount
- Sign and get your money
Personal loans can provide individuals with much-needed funds to cover unforeseen expenses. Companies such as RISE offer personal loans that vary depending on factors like state laws, an individual’s financial history and personal credit score. RISE has assisted over 250,000 customers and provides individuals with the opportunity to obtain flexible payment schedules. The company offers different loan options, financial education tools and resources that allow customers to track their credit scores. Benzinga reviewed RISE’s personal loans and took into consideration several factors such as fees, customer service, term lengths and loan approval requirements. Overall, Benzinga discovered that RISE has the benefit of offering to fund individuals with lower credit scores, but loans include higher APR rates that can make the funds expensive and difficult to repay. Consider speaking with a financial professional before applying for a personal loan to better understand the best option for you.
- Individuals in need of expedited funding
- People with lower credit
- Low minimum loan amount
- Fast application and funding
- No origination fees
- Loan amounts are lower than some competitors
Personal Loan Considerations
There are a few key considerations if you’re thinking about a personal loan. Guide your decision making with these questions:
- Are the rates offered by the lender lower than a credit card?
- Do you need a lump sum of quick cash or a line of credit you can pay back and use again?
- Can you repay the loan within the given terms?
A personal loan may be your best bet if your answers are yes.
Be aware that some lenders, especially online, do prey on unsuspecting borrowers. Make sure you research a potential lender before you sign off on anything.
Personal Loans vs. Credit Cards
Personal loans and credit cards are both ways to pay for expenses you can’t cover with your regular cash flow. Credit cards tend to be revolving and have variable rates — this is good if you need a consistent line of accessible credit, but variable rates can mean you end up paying more in interest than you expected. Personal loans are a set amount with fixed rates. These are better if you need a 1-time lump sum of cash and want to budget out how much extra borrowing on credit will cost you by the time you pay it back.
A personal loan can cover a large expense or consolidate your debt. Use a credit card if you want a reusable line of credit to use for everyday expenses and purchases.
Find Your Personal Loan
Personal loans can help your credit score, and some offer lower rates than other forms of credit. You can get a loan from a brick-and-mortar institution or use an online lender. Start with our recommended lenders and connections to find the best personal loan for you.
Frequently Asked Questions
What happens if I can’t repay my personal loan on time?
Make sure you’re clear on the terms of a loan. You may face late payment fees if you pay off a loan late (or early in some cases). You can also face collateral seizure with secured loans or prepayment penalties.
Can I get a personal loan with bad credit?
Yes. It just depends on the lender. Some lenders welcome borrowers with imperfect credit. However, you may face higher rates and more rigid terms.