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Best Personal Loans in Cleveland, OH

Jan. 24, 2020, 1:18 a.m.

Personal loans come in handy for home improvements, medical expenses, vacations, debt consolidation and other reasons. A good Cleveland lender will disclose terms and fees clearly, offer reasonable interest rates and allow easy access to customer service. Our partners at We researched the best personal loans in Cleveland to give you greater financial freedom.

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#1
#1 MOST POPULAR
Best Egg

Loans made fast & easy!

VISIT WEBSITE
CALL BEST EGG
(877) 850-2322
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#1 MOST POPULAR
Best Egg
Best Egg
Features
  • Available in Cleveland
  • Apply in minutes, get a decision instantly
  • Simple, fixed monthly payments
  • No prepayment penalties
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VISIT WEBSITE
CALL BEST EGG
(877) 850-2322
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#2
FreedomPlus
FreedomPlus
Features
  • Available in Cleveland
  • Loans from $7,500-$40,000
  • Equal Housing lender
  • Apply online
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VISIT WEBSITE
CALL FREEDOMPLUS
(800) 368-0061
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OppLoans
OppLoans
Features
  • 99-199% APR
  • Terms up to 36 months
  • No prepayment fees
  • $1,000-$4,000 loans
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OneMain Financial
OneMain Financial
Features
  • $1,500-$30,000 loans
  • 4 term options
  • Online application
  • No prepayment fees
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Location
7560 Pearl Rd.
Cleveland, OH 44130
(440) 234-0200
LendingTree
LendingTree
Features
  • M-Th: 8am - 9pm
  • F: 8am - 8pm
  • Sat: 10am - 7pm
  • Closed Sun
  • lendingtree.com
Location
Online services in
Cleveland, OH
Eagle Loan Co.
Eagle Loan Co.
Features
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • eagle.com
Location
6817 Pearl Rd.
Middleburg Heights, OH 44130
(440) 663-0070
Taleris Credit Union, Inc.
Taleris Credit Union, Inc.
Features
  • M-F: 9am - 3pm
  • Closed Sat and Sun
  • taleriscu.org
Location
1250 E. Granger Rd.
Brooklyn Heights, OH 44131
(216) 739-2300
LendingPoint
LendingPoint
Features
  • Open 24 hours
  • lendingpoint.com
Location
Online services
Cleveland, OH
(888) 969-0959
Dollar Bank
Dollar Bank
Features
  • M-F: 8:30am - 4:30pm
  • Closed Sat and Sun
  • dollar.bank
Location
1301 E. 9th St.
Cleveland, OH 44114
(216) 736-8983

What to know about personal loans in Cleveland

Cleveland skyline

Personal loans can pay debts such as medical bills or high-interest credit cards. Loans also can be used for home improvements, major car repairs, weddings, vacations or starting a business. Fast approval and easy access to funds make personal loans appealing to those faced with unexpected and time-sensitive loan needs.

There are various types of personal loans. A debt consolidation loan is used to combine high-interest debts into a single loan with one monthly payment at a lower interest rate. A payday loan is one that provides a short-term advance on future earnings.

Credit classification Range of score
Great 720 - 850
Good 680 - 719
Fair 630 - 679
Subprime 550 - 629
Poor / Bad 300 - 549

Those with poor credit scores have less access to credit from traditional sources, but may be able to obtain a personal loan. Local credit unions are usually non-profit and may be more flexible on lending requirements, as many online lenders are. For example, OppLoans also considers employment status, current bank accounts and other factors beyond your credit score. Avoid predatory loans with excessive interest rates that lead to a cycle of debt.

Some lenders cater to certain borrowers. For example, military veterans may qualify for VA home loans with less stringent credit requirements.

Personal loan applications are usually online. Some general requirements are:

  • U.S. citizenship or permanent resident status
  • At least 18 years old
  • Verifiable income source
  • Personal bank account

Most personal loans are paid back electronically from your bank account on a monthly basis. Ohio law allows consumer borrowing up to $10,000 to be paid back in installments from between six months and five years. This is not to be confused with Ohio’s regulations for payday loans, which are shorter-term and more restrictive.

Borrowers may incur a variety of different charges and fees in addition to interest rates. Some lenders may charge what is known as an origination fee. For example, FreedomPlus has loans with origination fees of between zero and five percent.

Best Egg

Best Egg

CALL BEST EGG

(877) 850-2322 VISIT BEST EGG

Based in Delaware, Best Egg promotes their affordable and competitive interest rates and the quick and easy process to see if you pre-qualify. The organization is proud of their "A+" rating with the Better Business Bureau. Customer reviews say the staff is friendly and professional throughout the application process.

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FreedomPlus

FreedomPlus

CALL FREEDOMPLUS

(800) 368-0061 VISIT FREEDOMPLUS

Lending by FreedomPlus is through Freedom Financial Asset Management, their asset manager that offers loans to institutions and consumers. Loans generally have a two- to five-year term. Online reviews are mostly positive and applaud their customer service, although some customers feel the origination fees are high.

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OppLoans

OppLoans VIEW ALL PLANS

Based in the Chicago area, OppLoans claims to have over 100,000 satisfied customers and excellent customer service and support. Online reviews say their representatives do a good job working with their clients, and the majority of customer reviews mention their rep by name.

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OneMain Financial

OneMain Financial

With more than 80 offices in Ohio, OneMain Financial has a significant local and national presence. The company offers various types of personal loans. A client of the local office in Lakewood expressed satisfaction with the company when he consolidated higher interest debt.

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