7/4/2023
Updated
Having the opportunity to obtain financing without a lot of paperwork is a great help when your finances are a little tight. In the state of Oklahoma there is a wide variety of lenders and banks that offer the opportunity to get quick loans and consumer credit for any need.
If you want to know a little more about how to get personal loans in Oklahoma, this small guide will serve as an initial orientation.
Oklahoma Quick Loans near me
In this central U.S. state, you can find a variety of quick loan companies with physical stores so you can find one near your location.
For example, you can find offices of OneMain Financial, an entity that is widespread throughout the country and offers loans up to $20,000. You can also find other entities with a presence in Oklahoma, such as Regional Finance or Sun Loan Company.
You can use the map below to find lenders near you in Oklahoma:
Personal loans from banks
The most common thing to do when you think about applying for a personal loan is to go to a bank. It is usually the most recommendable option because of its more favorable conditions, with less interest and commissions, although with higher requirements than other private lenders.
If you want to find a bank near you in Oklahoma to apply for a loan, we recommend you look for the banks with the most branches in the state:
As you can see, the banks with more presence in Oklahoma are local entities, not widespread in the rest of the country, being more minority the big banks like Chase Bank or Bank of America.
Recommended online lenders
When you use the Busconomico database or do a quick search on the web, you will find a wide variety of financing alternatives. To make your research work a little easier, we have chosen 4 online platforms that will be of great help:
- Upgrade. This express financing platform is focused on debt consolidation. Among its conditions, the APR starts at 5.94%, the amounts go up to $50,000 (minimum $1000) and the repayment time reaches 5 years. You'll need a credit score of at least 560 and they give you the money in one business day.
- Upstart. This lender is especially recommended if your FICO score is between bad and fair (minimum 300). They offer amounts ranging from $1000 to $50,000, with up to 5 years to repay and an APR starting at 3.22%. Once you sign, you'll have the funds within one business day.
- Sofi. This fintech has earned a place in this segment because you can get up to $100,000 under flexible terms. Suitable for those with a 680+ score, its APR ranges from 5.74% to 20.28%, you have up to 60 months to pay and you get the funds in two business days.
- LightStream. This platform is backed by Truist Bank, one of the largest banks in the USA. It is highly rated for its APR ranging from 4.49% to 20.49%, you can get a maximum of $100,000 and repayment can take up to 8 years. Although it requires a score of 660, you can receive the money the same day you apply.
Common Installment Loan Costs
If you haven't yet applied for a personal loan in Oklahoma or another state, it's important to know the cost structure of these products. Depending on the online platform you use or the lender you choose, it is not uncommon to not receive the full amount you have requested.
This is due to several factors you need to consider:
- APR. All financing includes an interest rate that favors the lender. No matter if it is a 'buy now, pay later' scheme, lenders calculate the APR as a percentage of the amount requested over a year.
- Origination fee or origination fee. This fee corresponds to the administrative paperwork to give you financing. While some lenders charge it up front, others may include it in the monthly payments. Although common, some lenders waive this fee.
- Prepayment penalty. Many lenders want you to meet the terms of the contract. For this reason, they penalize you for paying early because they receive less interest. Of course, there will be those who do not have this policy.
A Brief History of Oklahoma
The name of this territory comes from the words 'okla' (people) and 'humma' (red). It also has the nickname 'Sooner State', which refers to the settlers who claimed this land prior to its official status and the 'Indian Appropriations Act' of 1889.
In 1907, Oklahoma became the 46th state of the American Union.
Located in the southeastern United States, it is considered the 20th state in terms of geographic extension and the 28th in terms of population. It borders the states of New Mexico, Colorado, Kansas, Missouri, Arkansas and Texas.
Its capital, Oklahoma City, is the largest, followed by Tulsa and Norman. Its 77 counties are home to some 4 million people.
The 'Land of the red man' is home to 4 Fortune 100 companies and 6 Fortune 500 companies. Its economy stands out in aviation, energy, electronics, processed food and transportation equipment. With an annual GDP of $195.07B, a household earns on average $53,840 and someone with a job can generate an average of $29,870.
Home of the American bison, Oklahoma also hosts the state fair and the Tulsa Fair. Along with its natural beauty and diverse culture, each year it holds several pow wows, Latino/Asian heritage festivals, and Juneteenth, among other events that draw thousands of visitors.
Español: Préstamos personales en Oklahoma (OK) cerca de mí