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Best personal loans for fair credit
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Economic conditions have been challenging for a while. And though inflation is cooling and interest rates are poised to drop soon, many consumers are still struggling financially.
For those feeling financially strapped, personal loans can sometimes be worth exploring.
Not all personal loans are created equal, though — especially if your credits not pristine. Are you considering a personal loan with a few issues on your credit report? Here are the best options for borrowers with fair credit.
Find out how affordable the right personal loan could be now.
Best personal loans for fair credit
If you’re looking for a loan with less-than-perfect credit, here are some of the best personal loans for fair credit, broken down into five categories.
Best overall: Upstart
Online lender Upstart is our pick for best personal loan. The company offers a blend of low, fixed interest rates, fasting funding times and high loan amounts (up to $50,000), and it considers non-credit information when evaluating your application — things like education and employment.
Applying for a loan takes less than five minutes, and most borrowers can get approved instantly. Funds are then issued in 24 hours or less for many applicants. Upstart offers three- and five-year terms.
Learn more about Upstart loans here.
Best for large amounts: PenFed
PenFed is another option if you’re looking for a large loan amount. The credit union offers personal loans with limits up to $50,000 and terms of up to five years. You can use the loan for debt consolidation, home improvements, adoption, weddings and more, and there are no origination, early payoff or balance transfer fees. Funding happens as quickly as the next business day.
Learn more about your PenFed loan options here.
Best for quick approval: Prosper
Prosper’s a smart option if you’re looking to get your personal loan quickly. You can check your rate online in minutes, customize your term and monthly payment, and then receive funding in as little as one business day. Funds are direct-deposited into your bank account for immediate use. Prosper’s loan terms range from two to five years.
Best for low rates: LightStream
If snagging the lowest interest rate is your goal, look to LightStream. The lender offers the lowest potential APRs of all companies we considered, with rates starting at just 6.99% (with a 0.50% autopay discount included).
Loans can be used for home improvements, debt consolidation, car purchases or refinancing, boat/RV/aircraft purchases, K-12 education, medical costs, buying a timeshare and more. And if you’re approved, you can even receive your funds the same day.
Explore your LightStream loan options here.
Best for extended terms: SoFi
For a longer payoff time, consider SoFi. The online bank offers personal loans that range from two years to seven — much longer than the typical five years offered by most lenders.
The lender also lets you prequalify in 60 seconds, and you can get funding the same day you apply. There are no fees and interest rates are fixed so your rate and payment will never change.
Learn more about SoFi personal loans here.
The bottom line
Make sure you shop around and compare at least a few lenders before getting a personal loan. Look at rates, terms, and repayment options — and consider customer reviews and ratings, too. This will ensure you get the best possible loan for your needs and budget.
NEW YORK — Former New York Gov. David Paterson and his stepson were attacked in New York City on Friday night, authorities said.
The incident occurred just before 9 p.m. on Second Avenue near East 96th Street on the Upper East Side, according to the New York City Police Department.
Police said officers were sent to the scene after an assault was reported. When officers arrived, police say they found a 20-year-old man suffering from facial injuries and a 70-year-old man who had head pain. Both victims were taken to a local hospital in stable condition.
In a statement, a spokesperson for the former governor said the two were attacked while “taking a walk around the block near their home by some individuals that had a previous interaction with his stepson.”
The spokesperson said that they were injured “but were able to fight off their attackers.”
Both were taken to Cornell Hospital “as a precaution,” he added.
Police said no arrests have been made and the investigation is ongoing.
The 70-year-old Paterson, a Democrat, served as governor from 2008 to 2010, stepping into the post after the resignation of Eliot Spitzer following his prostitution scandal. He made history at the time as the state’s first-ever Black and legally blind governor.
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A 17-year-old boy was critically injured and a person is in custody after a gunman opened fire on a SEPTA bus in North Philadelphia Friday evening, police said.
At around 6:15 p.m., Philadelphia police were notified about a shooting on a SEPTA bus traveling on Allegheny Avenue near 3rd and 4th streets in North Philadelphia, Inspector D F Pace told CBS News Philadelphia.
There were an estimated 30 people on the bus at the time of the shooting, Pace said, but only the 17-year-old boy was believed to have been shot. Investigators said they believe it was a targeted attack on the teenager and that he was shot in the back of the bus at close range.
According to Pace, the SEPTA bus driver alerted a control center about the shooting, which then relayed the message to Philadelphia police, who responded to the scene shortly.
Officers arrived at the scene and found at least one spent shell casing and blood on the bus, but no shooting victim, Pace said. Investigators later discovered the 17-year-old had been taken to Temple University Hospital where he is said to be in critical condition, according to police.
CBS Philadelphia
Through their preliminary investigation, police learned those involved in the SEPTA shooting may have fled in a silver-colored Kia.
Authorities then found a car matching the description of the Kia speeding in the area and a pursuit began, Pace said. Police got help from a PPD helicopter as they followed the Kia, which ended up crashing at 5th and Greenwood streets in East Mount Airy. Pace said the Kia crashed into a parked car.
The driver of the crashed car ran away but police were still able to take them into custody, Pace said.
Investigators believe there was a second person involved in the shooting who ran from the car before it crashed. Police said they believe this person escaped near Allegheny Avenue and 4th Street, leaving a coat behind.
According to Pace, police also found a gun and a group of spent shell casings believed to be involved in the shooting in the same area.
“It’s very possible that there may have been a shooting inside the bus and also shots fired from outside of the bus toward the bus,” Pace said, “We’re still trying to piece all that together at this time.”
This is an active investigation and police are reviewing surveillance footage from the SEPTA bus.