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finder.com’s rating: 4.6 / 5.0
★★★★★
$100,000
Max. Loan Amount
Competitive
APR
Good to excellent credit
Min. Credit Score
| Product Name | LightStream Personal Loans |
|---|---|
| Min. Loan Amount | $5,000 |
| Max. Loan Amount | $100,000 |
| APR | Competitive |
| Interest Rate Type | Fixed |
| Min. Credit Score | Good to excellent credit |
| Minimum Loan Term | 2 years |
| Maximum Loan Term | 7 years |
| Turnaround Time | Varies |
Review by
Anna Serio is a staff writer untangling everything you need to know about personal loans, including student, car and business loans. She spent five years living in Beirut, where she was a news editor for The Daily Star and hung out with a lot of cats. She loves to eat, travel and save money.
Lightstream is ideal if you’re looking to take out a large loan, want a long loan term or need funds fast. It offers personal loans up to $100,000 at competitive rates — with loan terms as long as seven years. You also might be able to get your funds the same day you apply if you meet specific criteria.†
But you need to have good to excellent credit to qualify. And if you’re looking to borrow less than $5,000, you’ll have to look elsewhere. Lightstream also doesn’t have a customer service phone number listed on its website, meaning you’ll have to reach out via an online form with any questions you might have.
Not sure Lightstream is for you? Compare your other options below.
To qualify for a loan from LightStream, you need to meet a few basic criteria:
The Rate Beat Program offered by LightStream ensures that you get the most competitive APR. LightStream will beat any other lender’s APR by 0.1%, provided the other lender’s APR meets certain terms and conditions.
| BBB accredited | No |
|---|---|
| BBB rating | Not rated |
| BBB customer reviews | 2 out of 5 stars, based on 19 customer reviews |
| Trustpilot score | 3.8 out of 5, based on 2 customer reviews |
| Customer reviews verified as of | 12 December 2019 |
Despite being around for almost a decade, Lightstream doesn’t have very many customer reviews on its Better Business Bureau (BBB) or Trustpilot pages. Those that are positive praise the lender for its fast turnaround, competitive rates and hassle-free process. A lot of the negative reviews seem to be spam, though there are a few that appear legit. A few people complained about getting denied for a loan — even with good to excellent credit and minimal debts. Others had issues with rude or unhelpful customer service representatives.
Applying requires that you provide some personal information, which includes the following:
LightStream will email you shortly after you apply with an approval decision. Depending on when you apply and what other documents are needed, you may be able to receive your loan funds the same day you apply.†
LightStream allows you to pick your repayment method when you apply. If you choose automatic payments, you may receive a 0.50% APR discount — but it’s only available if you select autopay during the application process.
Alternatively, you can receive an invoice each month and pay manually online. For borrowers who choose to pay by invoice, you must pay at least two days before your due date for it to be processed on time.
Not sold on Lightstream? Find out how it compares to other lenders or read our guide to personal loans to find the best deal available to you.
* Your APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay discount, which is only available when you select AutoPay prior to loan funding. Rates under the invoicing option are 0.50% higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 5.99% APR with a term of 3 years would result in 36 monthly payments of $304.17.
† You can fund your loan today if today is a banking business day, your application is approved, and you complete the following steps by 2:30 p.m. Eastern time: (1) review and electronically sign your loan agreement; (2) provide us with your funding preferences and relevant banking information; and (3) complete the final verification process.
§ After receiving your loan from LightStream, if you are not completely satisfied with your experience, please contact them. They will email you a questionnaire so they can improve their services. When they receive your completed questionnaire, they will send you $100. LightStream’s guarantee expires 30 days after you receive your loan.
LightStream reserves the right to change or discontinue their guarantee at any time. Limited to one $100 payment per funded loan. LightStream and SunTrust teammates do not qualify for the Loan Experience Guarantee.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
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