Top Lenders & Best Picks for You

Best Personal Loans in Boston, MA

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Updated: December 28, 2023

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MoneyGeek’s Pick for Best Personal Loan Lender in Boston: LightStream

MoneyGeek analyzed Boston's lenders using more than 30 distinct factors. These factors included APR range, fees, term length, credit score and income requirements and customer service.

Overall, LightStream was ranked as the best lending institution for personal loans in Boston, Massachusetts. However, other lenders may be better suited for you based on a range of criteria, including your credit score and whether you require a loan for debt consolidation or home improvements. In the following sections, you'll learn which company is the best match for your specific requirements.

Best Overall Personal Loan Lender in Boston: LightStream

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Best Personal Loan Lender for Bad Credit in Boston: Upstart

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Best Personal Loan Lender for Good Credit in Boston: SoFi

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Best Personal Loan Lender for Debt Consolidation in Boston: Upgrade

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Best Personal Loan Lender for Home Improvement in Boston: Best Egg

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What to Do if You Can’t Get a Personal Loan in Boston

Borrowers with bad credit scores, high debt-to-income ratios or incomplete applications may all have their loan applications rejected by banks. If this happens to you, first find out why you were rejected and what you can do better the next time around.

Some lenders will provide you a loan if you reduce the term or amount while meeting all other lender requirements. Additionally, as a workaround, some lenders offer the option for a co-signer or collateral. You should, however, consider reapplying only after determining and resolving the reason for your rejection.

Short-term loans with high interest rates, such as payday loans, are an option for people who have been rejected for a traditional loan. However, we advise against taking a short term loan for multiple reasons. These loans typically have high interest rates and require repayment within a short time period.

Frequently Asked Questions About Personal Loans in Boston

Personal circumstances, credit history and income all play a role in determining the best personal loans in Boston. Here are a few commonly asked questions about personal loans and lending companies in Boston:

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Our Personal Loan Methodology

We reviewed more than 30 personal loan lenders using 35+ individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Within each ranking criteria category, we considered several individual data points that we feel carry the most weight when choosing a personal loan lender. These factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.

Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible, like prequalification, payment options and mobile apps.

After careful consideration and calculation, our picks are determined with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing a lender that meets your needs.

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.