Truist offers the best personal loans in West Virginia. Personal loans from Truist don’t have origination fees and have relatively low APRs.
Although MoneyGeek found that Truist is the best option for the majority of borrowers, Upgrade is the best lender for those with bad credit and SoFi is the best option for those with good credit. The best debt consolidation loans are available through Lending Club, and the best loans for home improvements are through Marcus by Goldman Sachs.
MoneyGeek’s Pick on Best Personal Loan Lender in West Virginia: Truist
MoneyGeek evaluated more than 30 data points to rank the state’s various credit providers in order to assist you in finding the best personal loans in West Virginia.
We assessed a lender’s options for loan size, repayment schedule, and interest rate. Additionally, our team looked at things like the required minimum credit score, gross income, and other things that could affect your chances of being accepted.
Additionally, we studied a company’s ability to deliver quality service. Additionally, we looked at how simple their application process was and whether they had mobile apps.
Best Overall Personal Loan Lender in West Virginia: Truist
- 8.14% to 18.99%APR Range
- NoneMinimum Credit Score
- $3,500 to $50,000Loan Amount Range
- 6 to 60 monthsRepayment Terms
- Next DayTime to Receive Funds
Truist was established in 2019 after the merger of BB&T Bank and SunTrust. It’s one of the 10 largest banks in the nation, with over 2,500 branches in 15 states, including West Virginia.Because of Truist’s well-rounded offerings, they are MoneyGeek’s pick for the best personal loan provider in West Virginia. You can borrow up to $50,000 from this lender, and they offer online application and same-day funding with no origination fees. Loans are payable from six to 60 months.A Truist loan may not be for you if you want to use it to fund your college education or purchase stocks. The lender has restrictions on the usage of loan funds, so you better check before applying.Pros
- Next-day funding
- No origination fees
- Auto payment discount of 0.50%
- No prepayment penalties or late fees
- Allows joint loans
Cons
- Conducts hard credit checks
- Restrictions on usage of loan funds
- Not available to people with new or no credit
- Does not allow co-signers
- APR range: 8.14%–18.999%
- Minimum/maximum loan amount: $3,500–$50,000
- Minimum credit requirements: None
- Repayment terms: Six–60 months
- Time to receive funds: Next day
on Truist Website
Best Personal Loan Lender for Bad Credit in West Virginia: Upgrade
- 5.94% to 35.47%APR Range
- 560Minimum Credit Score
- $1,000 to $50,000Loan Amount Range
- 36 to 60 monthsRepayment Terms
- Same DayTime to Receive Funds
MoneyGeek’s choice as the best personal loan provider for low-income borrowers in West Virginia is Upgrade. Established in 2017, this company primarily focuses on unsecured personal loans and offers secured personal loans, auto loans, credit cards and checking accounts.Compared to most providers, Upgrade has a low credit score requirement. They accept borrowers with a FICO score of at least 560 and don’t have income limitations. Additionally, they pre-qualify applicants through a soft inquiry that doesn’t affect credit scores.Nonetheless, because Upgrade targets borrowers with low and fair credit, their loans carry high interest rates. They also charge origination fees of up to 8%. Applicants with poor credit may have a better chance of approval by filing a joint loan application, but this lender does not allow co-signers.You may wish to consider a different loan provider if you want to use the funds for post-secondary education reasons or to make investments, as these uses are not allowed by Upgrade.Pros
- Offers 1% autopay discount
- Loan repayment up to 60 months
- No prepayment penalties
- Conducts soft credit inquiries
- Offers direct payment to creditors
Cons
- Origination fees of 3%-8%
- Does not allow co-signers
- Restrictions of usage of funds
- APR range: 5.94%–35.47%
- Minimum/maximum loan amount: $1,000–$50,000
- Minimum credit requirements: 560
- Repayment terms: 36–60 months
- Time to receive funds: Same day
on Upgrade Website
Best Personal Loan Lender for Good Credit in West Virginia: SoFi
- 5.74% to 20.28%APR Range
- 680Minimum Credit Score
- $5,000 to $100,000Loan Amount Range
- 12 to 60 monthsRepayment Terms
- Two DaysTime to Receive Funds
If you have a good credit score, MoneyGeek’s choice as West Virginia’s best personal loan company is SoFi. Established in 2011, Social Finance, Inc. started by offering student loans but has since diversified its products and services.SoFi allows you to borrow as much as $100,000 with a repayment term of up to 60 months. They require a credit score of 680 and will conduct a soft inquiry to check your score.If you want to improve your chances of getting approved, you may wish to file a joint application. Note that the lender requires a gross income of $50,000, a debt-to-income ratio of 43%, and it can take a couple of days after approval before funds are released.Pros
- No origination fee
- Conducts soft credit inquiry
- Allows joint loans
- Auto payment discount of 0.25%
- No prepayment penalties or late fees
Cons
- Requires at least $50,000 gross income
- Does not disclose rates on their website
- Not available to people with new or no credit
- Does not allow cosigners
- APR range: 5.74%–20.28%
- Minimum/maximum loan amount: $5,000–$100,000
- Minimum credit requirements: 680
- Repayment terms: 12–60 months
- Time to receive funds: Two days
on SoFi Website
Best Loan Lender for Debt Consolidation in West Virginia: Lending Club
- 7.04% to 35.89%APR Range
- 600Minimum Credit Score
- $1,000 to $40,000Loan Amount Range
- 36 to 60 monthsRepayment Terms
- Next DayTime to Receive Funds
Founded in 2006, Lending Club is one of the biggest unsecured personal loan lenders in the United States. They offer diverse products and services, such as secured consumer loans, business loans and more.Lending Club is MoneyGeek’s pick as the best personal loan provider for debt consolidation in West Virginia. They will pay creditors directly if the loan is for debt consolidation. They also allow joint loans, which can increase your chance of loan approval, and conduct soft checks to verify credit scores.While they will offer to match the rate of their competitors, they have relatively high interest rates, and their loans carry a 3%–6% origination fee. Likewise, their highest loanable amount is only $40,000.Because Lending Club restricts how you use your loan, it may not be the right lender if you want the money to make investments, buy cryptocurrency or pay for any expenses related to secondary education.Pros
- Conducts soft inquiry
- Pays creditors directly in case of debt consolidation
- Offers competitive rate match
- No prepayment penalty
- Allows joint loans
Cons
- Has 3%–6% origination fee
- Has high interest rates
- No discounts for automatic payments
- Not available to people with new or no credit
- Does not allow co-signers
- APR range: 7.04% to 35.89%
- Minimum/maximum loan amount: $1,000–$40,000
- Minimum credit requirements: 600
- Repayment terms: 36–60 months
- Time to receive funds: Next day
on Lending Club Website
Best for Home Improvement in West Virginia: Marcus by Goldman Sachs
- 6.99% to 19.99%APR Range
- 660Minimum Credit Score
- $3,500 to $40,000Loan Amount Range
- 36 to 84 monthsRepayment Terms
- Same DayTime to Receive Funds
Marcus by Goldman Sachs is MoneyGeek’s choice as the best personal loan provider in West Virginia for home improvement. Launched by Goldman Sachs in 2016, Marcus by Goldman Sachs offers investment and banking products for individuals, such as savings accounts, investment accounts and personal loans.The lender does not charge origination or prepayment fees, and gives a small discount for borrowers that use auto pay. While the maximum loan amount is relatively low at $40,000, there are no restrictions on how you use the money.Once approved, you will receive your funds from Marcus by Goldman Sachs on the same day. They don’t offer the option for joint or co-signed loans but do have a repayment term of up to 84 months.Pros
- Has auto pay discount of 0.25%
- No origination fee or late fees
- No prepayment penalty
- Conducts soft credit inquiry
- No restrictions on usage of funds
Cons
- Does not offer joint loans
- Not available to people with new or no credit
- Does not allow co-signers
- APR range: 6.99%–19.99%
- Minimum/maximum loan amount: $3,500–$40,000
- Minimum credit requirements: 660
- Repayment terms: 36–84 months
- Time to receive funds: Same day
How to Choose the Best Personal Loan Lender in West Virginia for You
In West Virginia, the average personal loan debt is $17,091. Personal loans have gained popularity as a flexible way to pay for both anticipated and unforeseen expenses.
Although personal loans are unsecured and have simple requirements, there are a number of things to take into account before applying for a loan. The steps you can take to obtain the best personal loan in West Virginia were broken down by MoneyGeek. 1.
Ask Yourself the Important Questions
To make better financial decisions, consider the following questions before applying for a personal loan.
2
It makes sense to compile all the data you can before submitting a loan application. Examine the company’s policies carefully regarding interest rates, payments due each month, credit checks, and other issues. Likewise, be aware of any restrictions the loan might have. Some providers won’t permit you to use the funds to invest in stocks, pay for college expenses, or buy other types of investments.
All the data you require to apply for a personal loan in West Virginia has been gathered by MoneyGeek. Our analyses, however, are based on generalizations, so our conclusions might not apply to your needs and circumstances. To find the best personal loan provider for you, do your own research. 3.
You must be sure a personal loan is the best financial decision for you because it is a significant financial commitment. Waiting a day or two before making a decision makes sense, just like with any significant financial decision. This will give you some time to look at the situation objectively and with new eyes.
Remember that personal loans often come with high interest rates. If you’re using it to cover unnecessary costs, think about saving money rather than taking out a loan. 4.
Read the Fine Print
If you’ve determined that a personal loan is the best course of action for you, review the offer from your preferred lender. Look beyond their marketing slogans and study their fine print.
Think about specifics like whether there are any origination fees, prepayment penalties, or other fees that could increase your costs. 5.
Apply for the Loan
The time has come to apply for a personal loan after you’ve carefully considered all your options, thoroughly examined all the information, and are confident in your choice of lender. Prepare the documents that lenders typically require, such as your employment and income verification.
Most lenders let you submit an online loan application. This is a practical choice because you can complete the entire procedure at home. To find out more about a provider’s practices and policies, you can also contact or go to their office.
What to Do if You Can’t Get a Personal Loan in West Virginia
If your loan application is denied, don’t worry. In West Virginia, lenders refuse personal loans for a variety of reasons, including poor credit and insufficient income.
You can always get in touch with the lender and inquire as to why they rejected your application. The terms of your loan might be changed, which would go against their initial decision. This may entail requesting a shorter term or a smaller loan amount.
You may also submit an application to a different employer, but you should first enhance your financial profile. To increase your chances of being approved the next time you apply for a loan, address the reasons your initial loan application was rejected.
If you’re strapped for cash, beware of payday loans. They are short-term loans with extremely high interest rates and predatory policies. In fact, payday loans are banned in 16 states, including West Virginia.
Frequently Asked Questions About Personal Loans in West Virginia
Your unique needs and financial situation determine which West Virginia personal loan provider is best for you. To assist you in making more informed decisions, MoneyGeek responded to some frequently asked questions.
According to MoneyGeek’s research, Truist offers West Virginia’s best personal loans overall. On the other hand, depending on your circumstances and financial situation, the best provider for you might be different.
Sofi offers West Virginia’s most affordable interest rate at 5. 74%. Nevertheless, a number of factors, including your credit rating, income, and loan information, determine your interest rate.
In general, you can use the money from your personal loan for anything, like a trip. Some businesses, however, have restrictions on how you can use your loan.
Yes, you can use the proceeds from your personal loan for a variety of things, including home improvements. The best personal loan provider in West Virginia for home improvements is Marcus by Goldman Sachs.
Although regulations vary by lender, in general you are not permitted to use the proceeds of a personal loan to finance post-secondary education or investments. Before applying for a loan, confirm any restrictions with your lender.
Depending on your financial situation and the lender, there are different loan amounts available. Despite this, lenders of personal loans in West Virginia typically provide loans between $1,000 and $100,000.
When you are approved, some lenders in West Virginia will begin processing your personal loan. However, some businesses can delay releasing your loan proceeds by up to a week.
Yes, you can pay off your personal loan early. However, check that your provider does not charge prepayment penalties.
Using 35+ unique data points in six key categories—loan affordability, accessibility, consumer friendliness, customer service, flexibility, and lender transparency—we evaluated more than 30 personal loan lenders.
When selecting a personal loan lender, we took into account a number of distinct data points within each ranking criteria category. APR ranges, loan amounts that are available, minimum credit scores, minimum income requirements, application fees, and disbursement times are some of these considerations.
Because we value you as a customer here at MoneyGeek, we also take into account each lender’s customer service, business ratings, and any additional features that might make your experience simpler and more accessible, such as prequalification, payment options, and mobile apps.
Our selections are made after careful deliberation and calculation, always keeping your best interests in mind. Our recommendations for personal loans and advice from industry professionals are designed to assist you in selecting a lender that best suits your needs.
The information on this page is correct as of the posting/last-updated date, but some of the rates may have changed since then. The most recent information is available on the lenders’ website, which we recommend visiting. Editorial disclaimer: The author alone is responsible for the recommendations and reviews; no bank, lender, or other organization has reviewed, endorsed, or approved them. Company.
FAQ
What is the easiest type of loan to get with bad credit?
Secured, co-signed, and joint loans are the types of loans that are the most accessible to borrowers with bad credit. Having a car or savings account as collateral for a loan protects the lender in the event that you are unable to make payments.
Can you get a loan with a score of 500?
With a credit score of 500, obtaining a loan can be challenging and expensive. But occasionally, regardless of whether they have good credit or not, people need to borrow money. With a credit score of 500, you may be eligible for a personal loan; compare offers to find the best loan for you.
How can you borrow money if you have bad credit?
- Payday loans. Typically, payday lenders don’t consider your credit when determining whether you qualify for a loan.
- Car title loans. Another short-term loan option for those with bad credit is car title loans.
- Personal loans. …
- Peer-to-peer lending. …
- Payday alternative loans.
Can I get a loan for $2000 with no credit?
If you absolutely must, you can obtain a $2,000 loan with no credit. But if a lender agrees to work with you, they’ll probably charge you much higher interest rates and an origination fee than they would if you had a track record of good credit.