Explore the top four providers of small unsecured personal loans, offering quick approval based on creditworthiness. Learn about Avant, LendingClub, Prosper, and LightStream, their eligibility criteria, loan amounts, and repayment options, making borrowing accessible for qualified individuals without collateral.

Leading Four Providers for Small Unsecured Personal Loans

Many people seek quick funding options without pledging assets or requiring a guarantor. Small unsecured personal loans are ideal in such cases, approved purely on credit history. These loans suit individuals with strong credit and no collateral. Below are four prominent lenders known for offering accessible unsecured loans, simplifying borrowing for qualified applicants.

Small unsecured personal loans are granted based on credit trustworthiness, without requiring collateral. Applicants with good credit scores and steady income are most likely to qualify. Here are some top lenders in this space.

Avant

This lending platform offers an easy online application process. A soft credit check is performed, which doesn’t affect credit scores. Applicants can quickly submit their details—name, address, DOB, income, and Social Security—and get results. Loan amounts range from $2,000 to $35,000, with repayment options spanning two to five years. Suitable for those with decent credit and annual income over $40,000, Avant offers flexible terms and late fee forgiveness, especially for punctual payments.

LendingClub

As a peer-to-peer platform, LendingClub connects borrowers directly with individual investors. Loan sizes range from $1,000 to $40,000, with funding typically occurring within 3 to 7 days and repayment terms of three to five years. An origination fee of 1% to 6% applies. The process begins with a soft credit check, then loan options with varying APRs, terms, and payment plans are offered. Funding depends on investor approval, with at least 60% funded by investors.

Prosper

Popular for its user-friendly app, Prosper lets borrowers easily track and manage their loans. The platform also provides free monthly credit score updates. Since launching in 2006, Prosper has facilitated over $6 billion in loans. Applicants need a minimum credit score of 640. Loan amounts range from $2,000 to $35,000, with funds available within 3 to 5 days. Repayment terms are three or five years, with origination fees between 1% and 5%.

LightStream

Targeted at borrowers with excellent credit, LightStream offers personalized interest rates based on the loan purpose. They perform comprehensive credit and financial reviews. For example, a $10,000 home improvement loan might have monthly payments between $196 and $213 with APRs of 6.54% to 10.04%. Debt consolidation loans may have payments from $202 to $219 with APRs of 7.70% to 11.29%. A credit score of at least 680 is typically required for qualification.