Personal Loans in Utah – Know Your Options

Personal Loans in Utah – Know Your Options
Luke Loftin
on April 16, 2019
Read in 1 min

With Utah experiencing solid economic growth over the last eight years, including job growth, many individuals may be considering personal loans to help achieve their financial goals. Whether you’re looking for debt consolidation options or a way to pay off medical bills, take a trip, update your kitchen, or just about anything else, a personal loan in Utah could help you do it.

Learn more about what to consider before requesting a loan in Utah, as well as what you might be able to choose from.

Where can I get a personal loan in Utah?

Personal loans in Utah can be found by both state-based and national lenders. You can also apply online through online lenders. Applying for a loan online through a lender can be a quick process and done in minutes. If a lender approves you, you may even receive your funds within a day or two.

You can also get personal installment loans at financial institutions with physical branches in your area. A local credit union or community bank may be willing to offer a personal loan even if you have bad credit.

personal loan in utah

What are some of the options for personal loans in Utah?

Getting an installment loan could help you build your credit as you make on-time payments each month. This kind of personal loan in Utah is often unsecured, meaning you don’t have to use any personal property in order to qualify. A secured loan, on the other hand, requires that you use some type of collateral, such as your car or a savings account.

For small personal loans with a quick repayment period, you may consider a payday loan. The state allows for a payday loan up to $1,000 but there is no cap on the fees.

What should I watch out for when requesting a personal loan in Utah?

If you’re not familiar with the lender you’re considering, you could check with Utah’s Department of Financial Institutions. They have a list of financial institutions and other lenders that are licensed to do business in the state. You can also do research to find out how other customers have felt about their borrowing experiences.

Also, pay careful attention to your loan agreement. Make sure you’re aware of your monthly payment amount and other fees associated with your personal loan in Utah. As long as you have a realistic plan in place to make your payments on time, you could open up a lot of options to finance your goals, whatever they may be.

Need Cash? Get a Personal Loan Today

$5,000
I want to borrow
$1,000
$35,000

Disclaimer: This is not legal or financial advice. Please consult a legal or financial advisor for your specific situation.

Luke Loftin Finance Journalist

Luke is a writer and editor based out of Los Angeles.

He specializes in finance, as well as health and wellness.

In his free time, he enjoys watching Astros baseball.

Lendio
Headway Capital

Important Disclosures. Please Read Carefully.

Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice. This website is not an offer to lend. Lendgenius.com is not a lender or lending partner and does not make loan or credit decisions. Lendgenius.com connects interested persons with a lender or lending partner from its network of approved lenders and lending partners. Lendgenius.com does not control and is not responsible for the actions or inactions of any lender or lending partner, is not an agent, representative or broker of any lender or lending partner, and does not endorse any lender or lending partner. Lendgenius.com receives compensation from its lenders and lending partners, often based on a ping-tree model similar to Google AdWords where the highest available bidder is connected to the consumer. Regardless, Lendgenius.com’s service is always free to you. This service is not available in all states. If you request to connect with a lender or lending partner in a particular state where such loans are prohibited, or in a location where Lendgenius.com does not have an available lender or lending partner, you will not be connected to a lender or lending partner. You are urged to read and understand the terms of any loan offered by any lender or lending partner, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you. By submitting your information via this website, you are authorizing Lendgenius.com and/or lenders and lending partners in its network or other intermediaries to do a credit check, which may include verifying your social security number, driver license number or other identification, and a review of your creditworthiness. Credit checks are usually performed by one of the major credit bureaus such as Experian, Equifax and Trans Union, but also may include alternative credit bureaus such as Teletrack, DP Bureau or others. You also authorize Lendgenius.com to share your information and credit history with its network of approved lenders and lending partners. For qualified consumers, our lenders offer loans with an Annual Percentage Rate (APR) of 35.99% and below. For qualified consumers, the maximum APR (including the interest rates plus fees and other costs) is 35.99%. All loans are subject to the lender’s approval based on its own unique underwriting criteria. Example: Loan Amount: $4,300.00, Annual Percentage Rate: 35.99%. Number of Monthly Payments: 30. Monthly Payment Amount: $219.36. Total Amount Payable: $6,581.78 Loans include a minimum repayment plan of 12 months and a maximum repayment plan of 30 months. In some cases, you may be given the option of obtaining a loan from a tribal lender. Tribal lenders are subject to tribal and certain federal laws while being immune from state law including usury caps. If you are connected to a tribal lender, please understand that the tribal lender’s rates and fees may be higher than state-licensed lenders. Additionally, tribal lenders may require you to agree to resolve any disputes in a tribal jurisdiction. You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.

Lender’s or Lending Partner’s Disclosure of Terms.

The lenders and lending partners you are connected to will provide documents that contain all fees and rate information pertaining to the loan being offered, including any potential fees for late-payments and the rules under which you may be allowed (if permitted by applicable law) to refinance, renew or rollover your loan. Loan fees and interest rates are determined solely by the lender or lending partner based on the lender’s or lending partner’s internal policies, underwriting criteria and applicable law. Lendgenius.com has no knowledge of or control over the loan terms offered by a lender and lending partner. You are urged to read and understand the terms of any loan offered by any lenders and lending partners and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.

Late Payments Hurt Your Credit Score

Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay. If you cannot make a payment on time, you should contact your lenders and lending partners immediately and discuss how to handle late payments.