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Best Personal Loans in Kansas City

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Written by Sandi Pope

Many Kansas City residents turn to personal loans to pay for moving expenses, handle an unexpected medical emergency, finance home improvement projects or fund a big-ticket item like a vacation. We put together a guide covering the basics of personal loans and a list of the best loan companies in KC.

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Top 13 Kansas City Personal Loan Companies

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Lenders in Kansas City offer personal loans that range from $300 to $25,000. These loans provide quick access to money that can help in emergencies, like when you have medical expenses or urgent home repairs. Companies charge interest on personal loans, but these loans are often a better option than owing credit card debt because they typically have lower interest rates.

Finding a loan in Kansas City

Once you've decided that taking out a personal loan is the best solution for your situation, you must decide what type of personal loan is best for you. There are many different types of personal loans, all with their own set of conditions and qualification requirements.

  • Variable-rate loans: A variable-rate loan has an annual percentage rate (APR) that can change over time. If you own an older or historic home in an area like Brookside, your house may need some minor home improvements and repairs. Homeowners looking for funds to help them improve their home and increase its value before a sale may look into a variable-rate loan.
  • Secured personal loans: Secured personal loans require collateral that the lender can seize if the borrower defaults on the loan. Because there is less risk with these types of loans, they are often available at lower interest rates than unsecured loans. Kansas City residents might use a secured loan to help pay for medical expenses.
  • Fixed-rate loans: A fixed-rate loan's APR does not change over time, which makes it an excellent choice for people who want predictable monthly payments. Kansas City couples holding weddings at venues like The Madrid Theater, which can cost more than $10,000, might consider this type of loan.

State requirements for personal loans in Kansas City

Often, Kansas City residents who take out personal loans do so because they are in a fragile and vulnerable financial situation. While most banks and lenders are in business to help you, some companies try to take advantage of the situation. Kansas City has regulations in place to protect consumers from predatory lenders. These regulations include caps on interest rates, loan amounts and finance charges. Here are a few things you need to know about the rules and regulations regarding personal loans in Kansas City:

  • Loan Amounts: $1,000 to $25,000
  • Interest Rates / APR: Variable, but usually between 11.24% - 35%
  • Loan Lengths: 12 months to 36 months

Some of the factors that affect the interest rate on your personal loan include your credit score, your employment status and your debt-to-income ratio.

Choosing a personal loan company in Kansas City

Choosing a personal loan takes time and research — not all banks, financial institutions, credit unions and lenders are the same. When searching for a lender, ask friends and family members which companies they've used for their personal loans. Check online reviews to get an idea about the competence, professionalism and transparency of a lender before you do business with them.

While it's helpful to know which companies your friends and family members recommend, it is also crucial to know which lenders to avoid. As you continue your search for a lender, check with the Consumer Financial Protection Bureau to make sure there aren't any serious reports filed against the particular institution.

When choosing a lender for your personal loan, ask yourself the following questions:

  • Do I want to work with a local company or a national company?
  • Is it vital for me to work with a lender face-to-face? Or would an online lender be more conducive to my situation?
  • Can this lender give me the amount of money that I need?
  • Can this lender offer me a flexible repayment schedule?
  • Does this financial institution offer the type of loan I need?
  • Does this lender offer competitive interest rates?
  • Are there any extra fees associated with the loan?

It's essential to figure out the best type of loan for your situation and look for companies that specialize in that type of loan. You should know the interest rate, loan term, penalties and fees before signing any contracts or accepting any funds.

Personal loan FAQ

What’s the best online loan company for Kansas City loans?
Many banks and lenders offer online loans to Missouri and Kansas residents, and the best one for you depends on your needs. Check our recommended lenders to find which one works for you. Like any lender, look into its customer service, APR and any other fees that may come with the loan.
Is there a loan for people with bad credit?
Most online companies in credit unions don't have minimum credit requirements, but your credit score still plays a significant role in how much you pay for a personal loan. Interest rates, payback terms and loan amounts are all dependent on your credit score. If bad credit is keeping you from qualifying for a personal loan, check out our payday loan guide to see how this type of loan can help you get quick access to the money that you need.
Are personal loans a good idea?
All loans come with risk. If you are unable to pay back your loan plus the interest, it could negatively impact your credit score. If you have the means to pay back the principal plus the interest over time, a personal loan may be right for you.
Where do I go to get a personal loan in Kansas City?
Contact one of our recommended lenders. We've done research for you regarding where you can get a personal loan in Kansas City. Our list of online lenders and local banks can help you choose a lender that meets your specific needs. It is vital to research the loan offers, interest rates, fees and penalty policies of each lender or bank.

Not sure how to choose?

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    Kansas City personal loan company information

    Security Bank of Kansas City

    Security Bank of Kansas City serves the greater Kansas City area as well as St. Joseph, Lee's Summit, Smithville and Paola. Security Bank of Kansas City offers automatic transfers, which allows you to conveniently pay your loan payment from your savings or checking account. The lender provides fixed- and variable-rate loans secured by your investments.

    • Address: 701 Minnesota Ave., Kansas City, KS 66101; Multiple locations
    • Phone: (913) 281-3165
    • Hours: M - F: 9am - 5pm
    • Website: securitybankkc.com/personal/lending
    Mainstreet Credit Union

    Mainstreet Credit Union offers online account opening, online loan applications and mobile and online banking. It provides a variety of free loan payment options, including dropping the payment off at one of their locations, mailing it in or setting up automatic recurring payments from your bank account.

    • Address: 8245 State Ave., Kansas City, KS 66112; Multiple locations
    • Phone: (913) 599-1010
    • Hours: M - F: 9am - 6pm; Sat: 9am - 12:30pm
    • Website: mainstreetcu.org/loans/personal-loans
    CommunityAmerica Credit Union

    CommunityAmerica Credit Union offers multipurpose loans that don't require collateral. Its online application process makes it easy to apply for a personal loan, and you know the results within minutes. You need current pay stubs that cover one month's income, a valid driver's license, your most recent tax returns and any documentation related to the loan purpose.

    • Address: 5041 Main St., Kansas City, MO 64112; Multiple locations
    • Phone: (913) 905-7000
    • Hours: M - F: 9am - 5pm; Sat: 9am - 1pm
    • Website: communityamerica.com/personal-loans
    Kansas City Credit Union

    Kansas City Credit Union offers a Freedom Loan, which is a small, short-term loan. For first-time borrowers, the minimum is $300 and the maximum is $500. After successfully paying off the first loan, the subsequent maximum is $750 with a payback period not to exceed six months. There is a $25 application fee, and the company does not charge a penalty for paying off a loan early.

    • Address: 5110 Ararat Drive, Kansas City, MO 64129; Multiple locations
    • Phone: (816) 861-5700
    • Hours: M - F: 8:30am - 4:30pm; 8am - 12pm
    • Website: kansascitycreditunion.com/loans-credit-cards/personal-loans
    United Consumers Credit Union

    United Consumers Credit Union serves residents of Jackson, Buchanan, Cass and Clay counties in Missouri and Johnson County, Kansas. Immediate family members of current account holders are eligible to join.

    • Address: 1111 E. 23rd St., Independence, MO 64055; Multiple locations
    • Phone: (816) 325-6900
    • Hours: M - F: 9:30am - 5:30pm; Sat: 9:30am - 12:30pm
    • Website: uccumo.com/loans/personal-loans
    Cornerstone Bank

    Cornerstone Bank prides itself on giving customers a personalized banking experience, which is why its employees give out their cell phone numbers to customers so you can reach them after business hours. Customers monitor Cornerstone Bank's wide variety of personal loans via online and mobile banking.

    • Address: 9120 W. 135th St., Overland Park, KS 66221
    • Phone: (913) 353-4130
    • Hours: M - F: 7:30am - 6pm; Sat: 9am - 12pm
    • Website: cornerstonebk.com/personal-banking-in-overland-park