11/22/2022
Known for being the epicenter of entertainment, Los Angeles is one of the most economically important cities in the United States and the most populous city in the state of California.
In addition, due to its wide variety of financial products, it is quite easy to find personal loans in this place. We tell you where, the requirements you will need and about certain regulations that are applied in the state of California.
Where to find personal loans in Los Angeles
The lending culture is a natural consequence of what a market economy like the United States represents. This means that people from different social strata have access to the most common financing models in the country.
That's why it's not difficult to find locations, entities and online platforms that offer personal loans in Los Angeles. Whether you're looking for a bank, credit union or online lender, you won't be short of financing alternatives.
- Loan amount: between $ 100 and $ 35,000
- Term: entre 7 days y 12 months
- Extra:Interest rate between 6.63% and 485% APRAddress: 1125 E. Broadway #545, Glendale, CA 9120
- Loan amount: between $ 500 and $ 50,000
- Term: entre 15 days y 120 months
- Extra:Fast loans up to $50,000 for whatever you want.
Interest rates from 6% to 439% APR
Finansi Group SL - Calle de las Barcas 2 Piso 2, 46002, Valencia
- Loan amount: between $ 500 and $ 10,000
- Term: entre 3 y 1728 months
- Extra:Fast online loans even with bad credit.Interest rates between 5.99% and 35.99% APR
3315 E Russel Rd Ste A-4 Box #105, Las Vegas, NV 89120
- Loan amount: between $ 500 and $ 10,000
- Term: entre 3 y 36 months
- Extra:Interest rates between 5.99% and 35.99% APRAddress: Chief LLC, 2661 N Pearl St #431 - Tacoma, WA 98407
- Loan amount: between $ 1,000 and $ 35,000
- Term: entre 3 y 720 months
- Extra:Interest rate from 5.99% to 35.89% APRAddress: 278 EAST 1875 SOUTH Roosevelt, UT 84066
- Loan amount: between $ 50 and $ 2,500
- Term: entre 7 days y 12 months
- Extra:Fast loans online and offline, even with bad credit.Interest rate starting at 83% APR.Address: 300 E. John Carpenter Fwy, Ste. 900, Irving, Texas, 75062
- Loan amount: between $ 1,000 and $ 35,000
- Term: entre 6 y 72 months
- Extra:Interest rate from 5.99% to 35.99% APR - 216 E 4th St, Austin, TX 78701
- Loan amount: between $ 300 and $ 5,000
- Term: entre 14 days y 12 months
- Extra:Consult with the entity the interest rate and the APRAddress: 2929 Floyd Street, Burbank 91504 CA
- Loan amount: between $ 200 and $ 5,000
- Term: entre 7 days y 12 months
- Extra:Interest rate between 4.99% and 450% APRAddress: 1041 4th Avenue, Suite 302, Oakland, CA 94606
- Loan amount: between $ 100 and $ 5,000
- Term: entre 1 days y 12 months
- Extra:Interest rate between 4.99% and 450% APRAddress: 1041 4th Avenue, Suite 302, Oakland, CA 94606
- Loan amount: between $ 1,500 and $ 20,000
- Term: entre 24 y 60 months
- Extra:Fast online and offline loans, also securedInterest rate from 18% to 35,99% APR
Address: OneMain Holdings, Inc. 601 N.W. Second Street Evansville, IN 47708-1013
- Loan amount: between $ 200 and $ 5,000
- Term: entre 14 days y 24 months
- Extra:Interest rate between 4.99% and 450% APRAddress: 1041 4th Avenue, Suite 302, Oakland, CA 94606
- Loan amount: between $ 500 and $ 12,000
- Term: entre 24 y 60 months
- Extra:Secured personal loans up to $12,000 Interest rates from 24% to 35,99% APR
Address: Regional Management Corp. 979 Batesville Road, Suite B Greer, SC 29651
- Loan amount: between $ 200 and $ 5,000
- Term: entre 1 days y 12 months
- Extra:Interest rate between 4.99% and 450% APRAddress: 1041 4th Avenue, Suite 302, Oakland, CA 94606
- Loan amount: between $ 1,000 and $ 25,000
- Term: entre 12 y 60 months
- Extra:Quick cash loans, mortgages and auto loans.Interest rates from 16% to 35,99% APR
Address: Mariner Finance, LLC. - 8211 Town Center Drive, Nottingham, MD 21236
Among the most popular, you can choose from unsecured personal loans, fixed-rate loans and co-signed loans. In La La Land, people often use this resource to take vacations, medical procedures, make large purchases or take care of emergencies.
Requirements for personal loans in Los Angeles
An important fact about California refers to a recent law from the Californian Department of Financial Protection & Innovation (DFPI) to protect the interests of those who use personal loans.
For amounts under $5,000, the origination fee must be a maximum of $75 if you borrow more than $2,500, and the late payment fee is $10-15 depending on how many days you have missed a payment (one time for non-payment).
As for the requirements to apply for a personal loan, most are standardized across the country. You will need:
- Be of legal age, 21 years old in Los Angeles.
- Have a bank account to receive the funds.
- Have a stable source of income: salary, pension, welfare, etc.
- Valid and current official identification: driver's license, military ID, passport, among others.
- Have a regular-good credit score: on average, 660 or higher. There are also options for those with lower scores.
Main banks offering personal loans in Los Angeles
Since it is one of the largest cities in the United States, you could not miss the big four, which is how the 4 largest banks in the country and the ones with the most branches in Los Angeles are known: Chase Bank, Bank of America, Wells Fargo and Citibank.
In addition, you can find many other banks with dozens of branches in the city and with which you can also contract personal loans, such as:
- The US Bank, which has more than 70 branches and many more in the metropolitan area.
- Bank of the West, with nearly fifty branches in Los Angeles.
- First Citizens Bank, which offers a variety of personal loans to its customers.
Interest Rates on Loans in Los Angeles
As you may already know, interest rates associated with personal loans are lower than using credit cards. However, this is not a premise that always holds true because it is going to depend largely on the type of financing, the term and the lender.
While it is possible to get a 10% APR, it can be as high as 300% with a fast loan.
Most personal loans available in Los Angeles have an interest rate ranging from 5 to 28% APR. This is true when you visit a bank, credit union branch. You can also get a very attractive APR on online platforms, ranging from 10 to 150% depending on the financing terms.
Things you can't do with a personal loan
Although personal loans in Los Angeles and the rest of the country serve a variety of purposes, there are 3 basic restrictions in California:
- Gambling. You are not allowed to use borrowed funds to gamble in a casino or other games of chance.
- Illegal activities. It is also not possible to start a business or sale of illegal items, such as drugs, weapons, human trafficking, etc.
- Student tuition. Usually these lenders do not finance student education because it is too risky. Unlike student loans, personal loans have fewer protections, including no discharge in case of bankruptcy.
In Los Angeles you can get different financing options to meet your cash flow needs. That is why in Busconomico's comparator we give you the best options in terms of financial products in this megacity. Do not hesitate to contact us.
In addition, you can also find personal loans in other large cities in the state of California, such as San Francisco or San Jose.
A brief overview of the city of Los Angeles
With a name of Spanish origin, Los Angeles is a city located in the basin of the southern part of California and is surrounded by deserts, mountains and the Pacific Ocean.
After New York, it is the most populated metropolis in the United States, with a little more than 4 million inhabitants. Known as Tinseltown or The Big Orange, this megacity has been ranked 6th in the Global Cities Index and 9th in the Economic Power Index.
After Tokyo and New York, it produces a GDP that reaches a trillion dollars a year. This is largely due to the diversity of its economy and the influence of the entertainment industry.
Los Angeles is a vibrant city that has built its prosperity through international trade, technology, transportation, telecommunications, aerospace engineering, petroleum, fashion, tourism and other industries.
The favorable conditions of this metropolis have allowed for a steady increase in household income, averaging $65,000 per family.
English: Préstamos personales en Los Ángeles (California)