Surprise medical bills or home renovation projects may seem financially impossible, but personal loans can help. Banks and credit unions offer personal loans at a good rate, but before signing a contract, make sure the company is reputable and the pricing is clear. Our partners at ConsumerAffairs researched the best personal loans in Kansas City to help you find the best option.
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Over the past three years, Kansas City’s employment growth has outpaced the country as a whole, bringing an influx of residents. This has caused a high demand for housing, and many residents have decided to renovate their homes rather than search for another home to buy. Personal loans are a great way to finance these renovations.
Also costly, medical debt is an increasing problem. A consumer health survey in 2017 found that more than a million residents of Kansas and Missouri live in households with medical debt and many have trouble paying their bills. A personal loan can help your tight finances.
There are a few types of personal loans in Kansas City, including:
Payday loan (a small sum of instant cash at a high interest rate)
Peer-to-peer lending (borrowing from a company online)
How to get a personal loan in Kansas City
To apply for a personal loan, a potential lender will need your:
Approval to check your credit score
Employer name and information
Monthly rent or mortgage information
If you have bad credit, personal loans are still available, but will come with higher interest rates. Get quotes from lenders who serve those with bad credit, but make sure they are trusted and recommended. You can also get a cosigner who agrees to repay your loan if you cannot.
Unsecured personal loans do not require collateral (like a house or car) and are paid back in fixed payments based on your state’s limits. You can get pre-qualified for your loan online and use that to compare rates from a variety of lenders to find the best deal. Before signing a contract, make sure you read the fine print on each offer, including APR, penalties and payment options.
Best Egg offers a variety of personal loans from $2,000 to $35,000 with low APRs. Qualified applicants can receive funds in one day. Customers in Kansas City spoke positively about the simple and convenient online application process.
FreedomPlus offers simple, straightforward personal loans from $10,000 to $40,000. Customers get approved in one day and receive funds within three business days. APRs vary depending on your credit. A personal consultant will find you the best loan for your needs.
LoanMe offers personal loans to Missouri residents from $2,600 to $10,000 that come with a no-worry guarantee. If you change your mind within seven days, they will waive all interest and fees. Its online system can deliver cash in under four hours directly into your checking account for a small fee.
Located in Kansas City, Waldo Financial is a convenient and trusted name in cashing services. Waldo offers up to $2,000 in unsecured personal loans for those with high credit scores. Reviewers in Kansas City call Waldo dependable, helpful and superior to others in the area.
Mazuma Credit Union
Mazuma offers up to $30,000 in personal loans for up to 60 months. If you’re a Mazuma Credit Union member, they will also deposit your funds directly into your account. If you’re not, check out Mazuma’s convenient location in Overland Park that has been serving KC for over 65 years.
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Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.