First, am I eligible?
To qualify for a loan from LightStream, you need to meet a few basic criteria:
- Good to excellent credit.
- Sufficient income and assets to support your existing debt obligations and requested loan amount.
- An American citizen or permanent resident of the US.
- At least 18 years old.
- May receive funds on the same day you apply†
- Competitive rates
- Borrow up to $100,000
- Get $100 if you’re not completely satisfied with your borrowing experience§
- Rate Beat Program beats competitor rates by 0.1%
- High minimum loan amount
- Tough credit requirements
- No customer service line listed on website
What’s LightStream’s Rate Beat Program?
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.
Compare other personal loan providers
Updated January 25th, 2020
What do customers have to say about Lightstream?
|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.
How do I apply?
LightStream has a simple application that should only take a few minutes to complete.
- Click the Go to Site button to view LightStream’s application.
- Select whether you are apply individually or jointly, then select your loan purpose and enter your zip code, loan amount, desired term and preferred payment method.
- Enter information about yourself, your employment and your annual income.
- Create a LightStream account.
- Review your application, read LightStream’s disclosures, and click Submit.
What information do I need to apply?
Applying requires that you provide some personal information, which includes the following:
- Social Security number
- Last four digits of your driver’s license number
- Annual income
What happens after I apply?
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.†
How do repayments work with LightStream?
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.
Personal loan ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.
Read the full methodology of how we rate personal loan providers.