SummaryLightStream allows borrowers with strong credit to borrow funds for purchases that usually require collateral, such as a vehicle or boat. Its interest rates are competitive even when compared with traditional secured bank loans. The application process is fast and paperless and borrowers can often receive approval and their funds within the same day.
Minimum Credit Score720
Maximum Loan Amount$100,000
APRLow Fixed Rates
Origination FeeNo Fee
Days to Close1 days
Approved with roughly a 710 and over $150k income same day. Had to provide pay statements to back up income but resolved with a very simple online portal upload. I never spoke directly to a rep, so I can't comment on customer service. Had funds deposited next day, and picked up the car that weekend. I have told all my friends about this company and would highly recommend them again.
If you have good or excellent credit and need a personal loan, LightStream may present a resource for you. LightStream offers personal, unsecured loans for a variety of purposes, ranging from loans for recreational purposes such as vacations or season tickets to laons to cover adoption costs or expenses associated with home remodeling. Loans are made to borrowers across the country. If you want to buy a car, you may apply for either a secured or an unsecured loan. However, LightStream does not provide primary funding or refinancing for student loans. The loan purpose works similarly to the process for payday loans: you submit your application online, and if your application is filed within business hours, you receive a preliminary response within minutes. If you are approved, you are directed to complete your loan agreement and may receive your funds the very same day. Interest rates vary according to your credit rating, but are much lower than the rates for payday loans, fixed for the life of the loan, with no additional fees and no prepayment penalty.
If you have really good credit, this is the place to go. The application is easy, the wait time for money is short and the customer service is good, too. The 1.99% interest rate is incredible. I don't know many other places you can go for that low of a rate. I was excited to qualify for the rate and am happy to say I will be using them again.
Excellent terms and they have an easy process through their website. I would recommend them to anyone.