Best Personal Loans in Colorado Near You:
- Best for No Collateral Required: Axos
- Best for Flexible Terms: Rise
- Best for Fair to Excellent Credit: Best Egg
- Best for Comparing Lenders: Credible
- Best for No Origination Fees: SoFi
Trying to get a handle on mounting debt or add some value to your house with costly renovations? A personal loan may be your solution. Personal loans are lump sum cash infusions with fixed, low rates and flexible installment repayment terms. Check out our list of the best personal loans in Colorado from credit unions, banks and online lenders to find one today.
Best Personal Loans in Colorado
We do everything else online; why not apply for and manage your loan online, too? Check out these online lenders to find a personal loan from the convenience of your phone. You can look into these online lenders to determine which will work best for you, especially as it relates to the type of loan you need or the terms you’re looking for.
Axos
When you want to borrow money for medical expenses, unexpected emergencies, educational costs and more, you can turn to a range of financial platforms or banks. Axos Bank is known for offering consumers a wide range of products from checking accounts to investing accounts and more. With an all-online application, you can choose from an array of loan amounts, flexible terms and get your money direct deposited into your account. This is really helpful when you want to tackle debt or random expenses.
Plus, Axos offers:
- Flexible criteria for approval
- Loans to cover any expense
- Information that helps you determine if a personal loan is right for you
You can use these loans to handle a range of expenses, extra costs or emergencies and much more. Consider applying because there are several options available at Axos.
Rise
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 the average Colorado resident because it is hard to manage your money while also dealing with your daily routine, job, family, etc.
The process is simple because you can:
- Apply online
- Choose your terms and amount
- Sign and get your money
- Best For:Best for Flexible TermsVIEW PROS & CONS:securely through Rise Personal Loans's website
Best Egg
Best Egg has been around since 2014, offering personal loans to borrowers with any need at all. The range of loan terms and values is a little narrower than other brands, but the customer service team is exemplary, the firm has an A+ rating from the BBB and it helps those with fair to excellent credit.
Best Egg also offers:
- Competitive rates
- No prepayment fee
- Affordable origination fees
You can learn more about Best Egg through social media, and you can even reach out to them through these channels. Remember, though, you should check the minimum and maximum loan amounts for your state as they can vary. Even so, Colorado residents can take advantage of this platform at any time to change their financial future and/or deal with unexpected emergencies that could occur at any time.
Credible
Not a lender itself, Credible offers a free loan comparison service. By answering a few easy questions about yourself and the type of loan you’d like, Credible provides you pre-qualified loan offers from lenders suited to your needs.
Checking your rates doesn’t affect your credit score, so you can consider different loans without worry. Credible is confident they’ll find you your best rate. Close with a better rate than you prequalify for on Credible and get a $200 gift card. Terms Apply.
Lenders with Credible offer personal loans to cover many expenses, like moving costs or home updates. Refinance or consolidate your debt to pay it off at a lower interest rate.
Credible offers loans with terms between 1 to 10 years. You can compare loans ranging from $1,000 to $200,000.
If you are looking for other types of loans, Credible will help you compare home loans and mortgage refinancing options, or student loans and student loan refinancing options as well.
NMLS# DISCLOSURE
Credible Operations, Inc. NMLS# 1681276
Credible. Not available in all states. www.nmlsconsumeraccess.org.
110 Corcoran Street, 5th Floor, Suite 151 Durham, NC 27701
Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states.
All bonus payments are by gift card. See terms
Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.
Won’t impact your credit score DISCLOSURE: (May be in the footer, a tooltip, or a popup the user has to click on or scroll to see)
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.
“We accept advertising compensation from companies that appear on this site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company lists on this page DO NOT imply endorsement. We do not feature all providers on the market.
We receive compensation from the companies below if you click on a link or purchase a product. Amount of compensation may impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.
SoFi
SoFi is an online lender offering personal loans, home loans, private student loans and refinancing options.
SoFi recommends its personal loans for debt reconsolidation or to pay for home renovations. Loans are available in amounts ranging from $5,000 to $100,000 and have flexible terms and low, fixed rates.
SoFi is a fee-less lender, so you won’t pay origination fees, prepayment fees, or late fees. The less money you spend on extra costs, the more money you have to pay it back. And, you can pay it back early with no consequences.
Their online application process is super easy and straightforward. SoFi has spending accounts, investment accounts, insurance products and credit monitoring tools. Create an account to see your personalized rates.
- Best For:No origination feesVIEW PROS & CONS:securely through SoFi Personal Loans's website
Fixed rates from 8.99% APR to 29.99% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive.
Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.
Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.
Personal Loan Considerations
If you’re thinking about taking out a personal loan, compare your options to find rates and terms that work for you. Make sure you can pay the loan back as agreed to when you sign for the loan -- not holding up your end of the contract can have serious consequences. Also, keep an eye out for predatory lenders, especially online.
Personal Loans vs. Credit Cards
When choosing between a loan or a credit card, consider your needs: if you need revolving, consistent access to credit, a credit card is your best bet. If you have a specific need that a 1 time cash infusion can cover, a personal loan will work for you.
Your lender will work with you to figure out what's best for your situation, or use a comparison service to see which makes the most sense for you.
Find a Personal Loan Today
Personal loans can be the solution to any number of situations in which we need some more money than we have on hand. Whether you're working on your credit or need to cover a large expense, a personal loan can get you the cash you need, quickly. Start with our lenders to find the right personal loan for you today.
Frequently Asked Questions
What happens if I can’t repay my personal loan on time?
It will reflect poorly on your credit report. You may also face financial consequences or collateral seizure. Try to avoid missing payments — if you think you might have to, see if your lender offers any solutions, like a skip-a-pay feature.
Can a personal loan help my credit?
Many choose personal loans specifically to help their credit. As long as you meet the terms, it can have several positive effects. It will raise your overall credit limit and the monthly payments help establish a good borrowing history. You can also use it to consolidate your debt and lower your credit utilization.
Can I pay off my personal loan early?
Most lenders will allow you pay off your personal loan with no fees, but some will charge a prepayment fee. Be sure to ask your lender if you will be charged a fee for paying off your loan early.