Features

LightStream is the personal loan division of SuntTrust Bank, a Fortune 500 company with over $175 billion in assets. LightStream offers unsecured loans with rates as low as 1.74% APR (with AutoPay on a new auto). SunTrust Bank has an A+ rating with the BBB and an EE (stable) rating with Standard & Poors.

How Does LightStream Work?

LightStream's unsecured loans provide customers with good-to-excellent credit with a fast and simple source of credit with fixed competitive rates and flexible terms. There are no fees, charges or prepayment penalties. The entire application is done online and can be completed within the same day, as long as all conditions are met.

Although LighStream loans can be used for most things, borrowers do have to specify the reason as interest rates do vary depending on the purpose of the loan. Purposes include car loans, home improvement, boat loans, horse loans, aircraft financing, debt consolidation and almost anything else. 

What Are LightStream's Interest Rates?

Interest rates range from 1.74% to 14.99% APR with AutoPay depending on the loan amount, term, credit rating and purpose of the loan. For instance, a loan for a new vehicle of $25,000 or more with a loan term of 24 to 60 months will have interest rates as low as 1.74% to 6.54% APR. Personal loans for purposes other than an auto purchase will have interest rates ranging from 2.99% to 14.99% APR with AutoPay.

Rates under the invoicing option are 0.50% higher. To illustrate, Monthly payments for a $10,000 loan at 5.79% APR with a term of 3 years would result in 36 monthly payments of $303.27.

How Much Money Can I Borrow from LightStream?

LightStream loan amounts range from $5,000 to $100,000. A 60-month loan of $100,000 with a 9.99% interest rate would have monthly payments of $2,124 while the same loan with a 1.74% interest rate would be $1,752 a month.

What Is LightStream's Application Process Like?

LightStream's application process is fast and easy to complete. To qualify you need good credit and sufficient income and assets to cover your existing debt and requested loan amount. The application takes only a few minutes to fill in and the information is confirmed electronically, so there's no paperwork to mail or fax.

How Is LightStream Better than Other Lenders?

- LightStream allows borrowers with strong credit to borrow funds for purchases that usually require collateral, such as a vehicle or boat.

- Its interest rates are competitive even when compared with traditional secured bank loans.

- The application process is fast and paperless and borrowers can often receive approval and their funds within the same day.

- 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 your funding preferences and relevant banking information, and (3) complete the final verification process.

 

  • Credit bureau reporting
    Equifax Experian TransUnion
  • Interest APR
    1.74% - 14.49%
  • Joint loans available
  • Loan Amount
    $5000 - $100000
  • No late fees
  • Max Loan Term (Months)
    84
  • Lend to military?
  • Institution Type
    Bank Direct Lender
  • Approval Speed (Hours)
    24
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0 votes

They approve you for less than you applied for. Ask for documentation which exactly reflects what's on the application. Then they deny you. Don't waste your time.


0 votes

I tried to apply for a loan even if I have a good credit score but if you are not old with some money put away for retirement they are gonna deny you.So...the conclusion is that you have to be old and rich to get a 1000 dollar personal loan.I was trying to gett a small loan to build their trust to show them that in the near future I can take a classic car loan but first I have to get old and rich.Thats the truth


0 votes

Auto loan was approved in 2 hours. The fund was transferred to my account the next day. I went to the dealership and bought my new car on the following day! 1.99% ARP for $22K was great deal and everything was very fast and smooth. My FICO score is 845 and I always pay off my credit card balance. There is no late payment and I have histories of 2 auto loans (paid off) and mortgage. They already disclose your credit history needs to be excellent shape in order to ... get qualified, so if you are unsure you should bother. More Less


0 votes

Quick and easy! I was reading some reviews from other sites and was a bit hesitant to apply. Seems like a lot of people were stating the same thing; good credit scores and decent incomes, but were still being rejected after applying. Needless to say, I did a little bit of research on the approval process and it seems pretty straight-forward. They're looking for people with a sufficient credit history that they can determine will meet their more stricter standards for approval. I've been with ... my job 14 years, make good money and they can see from my credit report, I'm not over-extended on my credit cards and the debt I do currently owe, my payment history shows that the payments I make to them now, are well above what I was quoted by LightStream that would be my monthly payments if the loan was approved, which it was. This was one of the easiest loan processes I've been through. Having utilized Lending Club, Prosper, and SoFi, this was by far the quickest and easiest. Applied on a Sunday, requested only my pay stub on Monday and approved on Tuesday. Funds transferred on Wednesday. More Less


0 votes

Awesome experience. Easy application. Approved the same day. I pick the day when to fund. Great service!


0 votes

I would not go with LightStream. They do not give you enough time to get them the information they need and will reject your application. Our Credit Score was 743 and we were still rejected. My spouse and I ran through a bunch of hoops and got nowhere.


0 votes

This was the easiest loan ever. Filled out a two minute application and was approved in under an hour. Loan funded in under 24 hours with a great rate. I have a 720 credit score, but I also have a decade of credit history that includes prepayment of every major loan I've ever taken out, revolving and installment accounts, long employment history, many years at the same address and a high income with liquid assets. It isn't only about credit score.


0 votes

i was looking to consolidate my credit cards and got it in a1 day!


0 votes

Applied online in about 3 minutes and within an hour received an email that my loan was approved. 2.39% on $30K for a used car. Money wired the next day (since it was late in the day). Easy Peasy!


0 votes

Don't waste your time. Their loan process is not quick and easy as claimed. I tried to get a $20000.00 boat loan with my $80000.00 Salery and a credit score of 745. I was finally rejected after three days of telephone calls and sending documents with no explanation. I was told that I would be given the reason in a few days.


0 votes

Applied on a Friday afternoon for a $31,000 personal unsecured loan to consolidate 3 different loans and 2 credit cards into one payment. After 2 e-mails (one asking me to call them to clarify some info on my credit report and the other asking me to upload a pay stub and proof of my 401K balance) and 1 phone call I was approved for the full amount at a lower rate than all 5 debts being consolidated - all in less than 2 hours. The funds were deposited the ... next business day. I won't speak to the credit decisions SunTrust makes to others, but I'm sure they are not in the loan business to lose money so they will be critical of your credit report - as they should be. I am also an above average earner with adequate savings and an 808 FICO, but they still wanted answers about some things on my credit report. You can't take it personal. More Less


0 votes

I wanted to finance a used car from a relative. Not sure why all institutions charge more for that vs. buying from a dealer. My credit is stellar and I don't typically use more than 5-10% monthly of what I have available. Called a few banks with whom I have business and personal relationships, and also Wells Fargo. Either the bank didn't do car loans (just personal unsecured loans at a much higher cost) or they do it but the minimum rates were much ... higher than given by LightStream.

I put in an application. Got an autoreply that it was received. In LESS than one hour I got an email that it was approved with the very reasonable lowest advertised rate. They don't want to put a lien on the car....just more unnecessary paperwork. There were instructions on where to esign and tell them the day I want them to put the money in my account. And they ask me what day every month they want me to withdraw the payments from my bank account. Seriously? THIS EASY? To top it off one hour later they sent an email offering to show me my current credit score. I am never worried about it but it is good to keep track on occasion.

I can't tell say what it would be like without my credit score (mine is well over 800) but if you have a good reputation, they make it VERY easy and convenient.
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0 votes

In Feb 2014, I got a $22,900 used car loan from Lightstream at a 2.29% interest rate. I recall it was very easy to get the loan. I filled out the application online. The next day, a woman called me to clarify what's on my credit report because some of my dad's credit history showed up on it too (my dad and I have the same name so the credit-reporting companies think we're the same person), and she had me email her a .pdf of both mine ... and my wife's most recent pay stubs. The morning after that, the money for the loan was in my bank account, and that evening I went to a dealership to buy my Ford Flex with it. I've been making $500/month payments on it since then, and have had no issues. To me, this has been an excellent loan-getting experience. I wish it were this easy to get a loan to buy a house with, particularly at that low of an interest rate. Since Lightstream doesn't offer mortgages, I've wondered if there's mortgage companies out that give low interest unsecured loans to customers that meet certain qualifications, similar to what they looked at for my eligibility for this car loan. More Less


0 votes

Applied with Bank of America and received immediate approval. Decided to compare terms with this company. Applied, spoke with rep that said everything looked good for the loan, then received a denial letter. Poor and unprofessional communication...train your people better.


0 votes

Don't waste your time. Seems only if you have the financial ability to have the cash on hand or in the bank can you borrow from here, which defeats the purpose. I really need I 5000 loan to purchase a work van in order to bring in additional income after my first job and as denied 70k a year job working for a utility with security wanted to start contracting again in spare time since loosing my business in the 08 housing crash . What did they say Denied!! ... Only 5000 without even a call...... More Less


0 votes

Excellent process from start to finish. I was skeptical at first but gave it a try. I saved 3.5% off the rate at the dealership. NO FEES! NO PAPERWORK! Approved in 30minutes from hitting the send button for $14k and UNSECURED loan so I didn't even have to mess with the vehicle title. Credit score of 815. Thanks Light Stream. I will go here first from now on.


0 votes

Best loan ever. I applied on a Thursday afternoon for 40000.00 loan and was approved for it Saturday with verification of my paycheck and 401k savings. I Love the quick response they gave me. Thank you


0 votes

Very simple process for unsecured loan to purchase auto from individual. Didn't want to hassle with the title exchange and wanted to jump on the desired auto I found at a great price. APR was 1.5% below my next option. Received response wtihin one day for additional information, called, gave the info, they asked for one more piece of info, gave it and was approved within hours. Admittedly, I have a credit score of 805 but carry a generous debt load. My husband is self-employed and that usually scares off ... lenders, even though he also has great credit and a four year employment history with stable income. Overall, am very pleased and highly recommend if you have good credit and need an auto loan without the usual hassles from a lienholder. More Less


0 votes

Applied for a $6k, not $60k, not $600k, $6k... Although I could pay the $6k outright, I wanted to get a loan to have another major line of credit on my report and to bring my credit score up more. Credit score 700, income $95k annually (for years now), no late payments, no discrepencies on credit history, long standing accounts, great debt to income ratio, and high bank account balances. Got denied within ONE (1) minute, I literally logged out after applying and immediately logged back in to change the ... email account (had used spouse's accidentally) and upon logging in there was a denial message there on the screen. When I got the 'denial letter' 48hrs later, it stated some crazy mess about my credit history showing delinquencies (totally not true), credit limits too high (shouldn't matter how much credit I have available if balances are within 10% range), length of time accounts have been established (nothing less than 5yrs). All those reasons are BS. Then they offered to spread my information around the world to third party lenders; Screw That!! They claim they consider 'excellent credit' to be a number of things other than just one's credit history... I call BS on that, too. So, I went to my bank around 3pm that day and they approved me that same day with the funds deposited into my account the very next day by 1pm and I proceeded to take myself to buy my $6k item. I did get 'scolded' (rightfully so) by my bank for not going to them first (lol). Bottom line: DO NOT WASTE YOUR TIME even if it is only the 10 minutes it took to apply, you can't get that time back (lol)!! Not to mention, the credit reports my bank pulled did not reflect anything that LightStream claimed it did; not even the supposed FICO score LightStream claimed I had was right. I don't believe for one second that any of the people approved are actually getting their loan serviced by LightStream, it's most likely a third party lender which means your personal information is floating around out there now in databases that have no reason to have it AND you will hard dings on your credit which lowers your score. Be Smart, People!! Go elsewhere... More Less


0 votes

If you want to make a big purchase but dont want to put up collateral, LightStream may be the solution youre looking for. The application process is quick and the interest rates are as low as 1.99 percent. You can borrow tens of thousands of dollars for just about any purpose to buy a car, obtain working capital for your startup business, you name it. The only catch is that you need excellent credit and a great overall financial portfolio to qualify. In other words, that old clich ... about not needing the money in order to be approved is just about true where this outfit is concerned. More Less


0 votes

Smooth process that resulted in a great loan. I would have to say, though, that there's not point in applying if you don't have really, really good credit. Fortunately, I do, which is the reason I got the loan--to make some ends meet and meet other obligations so I could keep my good standing. At any rate, I did do some checking and read reviews before applying, and I saw people complaining about not getting a loan. The company might say good credit, but they should really advertise excellent credit.

0 votes

Most straightforward advance I've ever gotten. Gotten approbation inside 2 hours, finished credit, and cash was in my neighborhood account when I requested it. The protests I've perused have been by individuals who were denied. Lightstream makes it clear in advance that you require incredible (not great, yet fantastic) FICO rating and noteworthy fluid resources. By just advancing to these people, they really well guarantee that they will be reimbursed, in this manner they can offer low investment rates (mine was 1.99%). in the event that you meet their prerequisites, ... you ought to attempt them. More Less

0 votes

I recently applied for a loan through LightStream. It was a pretty straightforward process. The experience was definitely not the most amazing or innovative process, but it was quick and easy enough.

After applying, Lightstream had a couple follow up questions so I had to call them to confirm a few things. After the call I was sent an approval the same day. The whole process took about 24 hours if I remember correctly.

Lightstream approved me for a loan at a rate of 2.79%. I was using it ... for an auto loan. I managed to use this loan offer to leverage a better deal from my dealership's financing department.

In the end I didn't end up taking the loan. So I guess I can't comment on the service level after loans fund.

In general Lightream seems like a great online alternative for a super prime credit loan. Definitely beats having to deal with a local bank.
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0 votes

½ hour is all it took to get $26000 auto loan with 1.99% for 60 mos. No extra documenation was needed from me. The cash was wired the following day. I have a really good credit score and own my home, but would totally use them again if I needed them.


0 votes

I have been trying to rebuild my credit for some time now, and have been fairly successful to date. I applied for a loan so that I could consolidate some older debt and after a few emails and phone calls to clear some things up, I was approved. I applied last year and my credit wasn't good enough, but I guess it's alright now. My only complaint is that they are not reporting my good payments to the credit bureaus - I want to keep improving my score, but they ... aren't really helping with that. More Less

0 votes

If you have good or excellent credit and need a personal loan, LightStream may present a resource for you. LightStream offers personal, unsecured loans for a variety of purposes, ranging from loans for recreational purposes such as vacations or season tickets to laons to cover adoption costs or expenses associated with home remodeling. Loans are made to borrowers across the country. If you want to buy a car, you may apply for either a secured or an unsecured loan. However, LightStream does not provide primary funding or refinancing ... for student loans. The loan purpose works similarly to the process for payday loans: you submit your application online, and if your application is filed within business hours, you receive a preliminary response within minutes. If you are approved, you are directed to complete your loan agreement and may receive your funds the very same day. Interest rates vary according to your credit rating, but are much lower than the rates for payday loans, fixed for the life of the loan, with no additional fees and no prepayment penalty. More Less


0 votes

This place seems to do what they say, which is refreshing nowadays. The loan process wasn't easy, but it wasn't long and hard, either. I got my money fairly quickly, though, which was great. They do ask you about the reason for the loan, which I guess is fair enough considering their interest rates are great. Fortunately, I got a good interest rate thanks to fairly good credit. Overall, it was a good experience, and I'll use them again if I get in a financial pinch.


0 votes

If you have really good credit, this is the place to go. The application is easy, the wait time for money is short and the customer service is good, too. The 1.99% interest rate is incredible. I don't know many other places you can go for that low of a rate. I was excited to qualify for the rate and am happy to say I will be using them again.


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