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Find the Best Personal Loans in Los Angeles, CA

From home remodeling to a wedding, personal loans are an affordable way of financing life’s biggest moments. You can use these low-interest loans for emergencies and large purchases. Our guide has more information on personal loans and recommendations for the best personal loans in LA.

Top 10 Los Angeles Personal Loan Companies

Best Egg
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Offers personal loans up to $35,000. Easy online application. Get money in your account in as little as one day upon approval and verification. Recommended minimum debt of $5,000 for debt consolidation.

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Read 524 Reviews

Offers personal loans up to $100,000. Processes approvals in as few as four hours. No prepayment penalties. Minimum loan amount of $600 required.

Next Day Personal Loan
Read 60 Reviews

Lending network for personal loans up to $40,000. Apply in under two minutes to start their simple, three-step process: apply, qualify, get funded. Funds available as soon as the next business day.

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Read 957 Reviews

Offers personal loans up to $10,000. Can deliver funds same business day, Guarantees a 100% commitment to customer satisfaction. Provides eligibility verification by state.

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Read 190 Reviews

Lender specializing in installment loans. Offers loans in 12 and offer loan terms from nine to 36 months. Average APR is 160%, and borrowers can borrow between $500 - $4000, depending on where they live.

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American Broadcast Employees Federal Credit Union Read Author Review

Provides signature, special purpose and secured loans. Offers a maximum of $25,000 or the full balance of your secured savings account. Advertises APRs as low as 5.25% and terms up to 60 months. Requires credit union membership.

Cal State L.A. Federal Credit Union Read Author Review

Offers unsecured loans and lines of credit from $500 to $15,000 with no prepayment penalties. Includes free finance assessment and credit report review. Requires credit union membership to qualify for loans.

California Bank & Trust Los Angeles Read Author Review

Provides secured and unsecured loans and lines of credit from $2,500 to $250,000. Accepts online, phone or in-person applications. Offers a discount for automatic payments. Advertises fixed or variable rates and flexible terms.

First City Credit Union Read Author Review

Provides secured or unsecured loans from $500 to $30,000 with APRs starting at 11.9%. Requires credit union membership. Accepts phone or in-person applications. Allows loans to be used for any purpose.

Los Angeles Federal Credit Union Read Author Review

Offers secured and unsecured loans with fixed or variable interest rates. Features interest rate discounts with automatic payments. Requires credit union membership to apply. Allows terms up to 72 months, depending on loan type.

los angeles skyline personal loans

Los Angeles residents use personal loans for a variety of purposes in LA, including medical procedures, large purchases, vacations and emergencies. Home renovations are a common motivation for LA residents to take out personal loans, particularly in up-and-coming neighborhoods like Glassell Park and Lincoln Heights.

Personal loans are more affordable than many other sources of funding in the long run. For example, the average interest rate for a credit card is 16%, whereas personal loan interest rates average closer to 10%.

How to choose a personal loan in Los Angeles

There are a few personal loan types on the market, so it can be challenging to know which is right for you.

  • Unsecured personal loans: Unsecured loans are a good option for those with higher credit scores. Los Angeles residents have an average credit score of 670, which meets the typical minimum requirement of 660. These loans require no collateral and have lower interest rates than most other forms of consumer debt. Usually, all you need to qualify is good credit, financial stability and proof of income.
  • Co-signed loans: For those who don’t have an extensive credit history or high income, a co-signer on your loan can help you qualify for better interest rates or higher loan amounts. These types of loans are frequently used by college students at universities like UCLA or USC to pay for living expenses. Keep in mind that if the original borrower defaults on the loan, the lender seeks payment from the co-signer.
  • Fixed-rate loans: These loans carry an interest rate that stays the same for the life of the loan, so Angelenos commonly use them for long-term financing. For example, you might take out a low-interest personal loan to pay for an expensive medical procedure at Los Angeles’ Children’s Hospital or the Ronald Reagan UCLA Medical Center. Fixed-rate loans are more predictable and less risky than the variable-rate alternative.

State requirements for Los Angeles personal loans

To protect you from unfair business practices, the state of California caps specific fees associated with personal loans. There are caps placed on origination and delinquency fees for loans less than $5,000, but there are no limitations for loans over this amount. Similarly, the state only caps interest rates on loans less than $2,500. To learn more, the California State Assembly publishes a breakdown of fees and interest rate caps.

Choosing a Los Angeles loan company

Choosing a Los Angeles lender for a personal loan may seem daunting, but the process can be simple if you break it down into several steps.

  • Read testimonials: Read online reviews from previous customers to see if most have had a good experience with the lender.
  • Speak with friends or family members: Talking to someone you trust about their experience is a great way to get information on a prospective lender.
  • Compile a list of potential lenders: Once you have a better idea of which companies you like, compile a list of potential lenders. There are local and national lenders to choose from, and some companies operate exclusively online.
  • Compare rates: Determine which lenders are right for your personal preferences, then gather a few quotes to compare their interest rates, terms and any penalties or fees you might encounter. This step helps you get an accurate picture of the loan before you sign any contracts.
  • Check the companies’ history: As a final precaution, check the Consumer Financial Protection Bureau’s complaint database to confirm there are no alarming trends about your chosen lender.

As you go through the vetting process, pay close attention to the quality of customer service you experience. If you don't like the customer service you receive from a business, it's best to cross them off your list of potential lenders.

Los Angeles personal loan FAQ

How can I get a $1,000 loan in Los Angeles?
This guide includes a list of top online and local lenders in Los Angeles, so you can evaluate these banks and determine the best loan offer for you. Each has different loan maximums and minimums, distinct interest rates and fee structures.
What credit score do you need for a personal loan in Los Angeles?
The average Los Angeles lender requires a minimum credit score of around 660. However, it is possible to find bad credit loans in California, and some lenders offer personal loans for credit scores as low as 580.
What’s the best online personal loan company for Los Angeles loans?
This guide features a few online personal loan companies that offer fast, affordable funding, and the best one for you depends on your personal needs. Depending on your credit, interest rates with online loans in California vary from 0.99% to more than 155%.
Can I get a loan with a credit union in Los Angeles?
Yes, you can get personal loans through California credit unions, though you typically need to be a member of the credit union. These organizations often have lower interest rates than traditional banks and other lenders.
What is a good interest rate on a personal loan in Los Angeles?
The average interest rate on personal loans is 10%, though rates can range from 5% to 28%. A highly competitive interest rate is typically between 5% and 7%.

Not sure how to choose?

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    Los Angeles personal loan company information

    California Bank & Trust Los Angeles

    California Bank & Trust is a local lender that offers fixed or variable rate personal loans ranging from $2,500 to $250,000. Loans can be secured or unsecured, and the lender offers a discount for customers signing up with automatic payments. Easily apply online, over the phone or at a local branch.

    • Address: 101 S. San Pedro St., Los Angeles, CA 90012; Multiple locations
    • Phone: (213) 229-4000
    • Hours: M - Th: 9am - 5pm; F: 9am - 6pm
    • Website:
    Los Angeles Federal Credit Union

    Los Angeles Federal Credit Union offers competitive personal loans with terms up to 72 months to its members. Its loan options include unsecured loans, emergency loans, computer loans, lines of credit and secured loans with savings or share certificates as collateral. To join this credit union, you need to be a Los Angeles city employee or make a donation to a charitable association.

    • Address: 201 N. Los Angeles St., Los Angeles Mall Space 201, Los Angeles, CA 90012; Multiple locations
    • Phone: (877) 695-2328
    • Hours: M - F: 9am - 5pm
    • Website:
    American Broadcast Employees Federal Credit Union

    American Broadcast Employees Federal Credit Union offers signature and special purpose loans in Los Angeles. Its loan maximums range up to $25,000, though you may be able to borrow more with a secured loan on a savings account balance. To join this credit union and apply for a loan, you must have a job with eligible employers — see the credit union's website for a complete list.

    • Address: 4151 Prospect Ave., Los Angeles, CA 90027
    • Phone: (323) 671-4515
    • Hours: 24/7
    • Website:
    Cal State L.A. Federal Credit Union

    Cal State L.A. Federal Credit Union offers secured and unsecured loans from $500 to $15,000. It also offers lines of credit used as overdraft protection. To be eligible for membership, you must work for specific organizations, live in El Sereno, be an alumnus of CSULA or have a family member who’s a member. Membership includes free financial services and assessments.

    • Address: 2445 Mariondale Ave., Los Angeles, CA 90032
    • Phone: (323) 505-2600
    • Hours: M - F: 9am - 6pm; Sat: 9am - 2pm
    • Website:
    First City Credit Union

    First City Credit Union offers personal loans from $500 to $30,000. The lender’s interest rates start at 11.9%. Call or visit one of its branches to begin your application. Membership is required to apply for a personal loan, but you may be eligible depending on where you work, live or go to school. Discounts to nearby attractions and businesses are offered as a membership perk.

    • Address: 717 W. Temple St., Los Angeles, CA 90012
    • Phone: (800) 944-2200
    • Hours: M - F: 9am - 5pm
    • Website:
    by Sandi Pope ConsumerAffairs Research Team

    Sandi Pope previously worked in the nonprofit sector as an advocate for environmental and social change and believes information access is a human right. As a member of the ConsumerAffairs Research Team, she seeks to provide consumers with the necessary information needed in making life-altering decisions.