Review of LightStream Personal Loans 2022

LightStream is the online consumer lending division of Truist, which was formed in 2019 from the merger of BB&T and SunTrust. SunTrust acquired the assets of online lender FirstAgain in 2012 and relaunched the business as LightStream.

LightStream’s online personal loans range from $5,000 to $100,000 and can be used for almost any reason. Personal loans are available to borrowers nationwide with good to excellent credit.

  • Find loans for over 30 different purposes, from buying a car to financing a horse.
  • Borrow $5,000 to $100,000.
  • Do not pay any set-up, prepayment or late fees.

  • Online pre-approval is not available.
  • Business loans are not offered.
  • Borrowers can only access fixed rate loans.

LightStream requires you to use your personal loan for the purposes you selected in your application. Loans can be used to finance:

  • Vehicles. Buy a new, used or classic car; get a motorcycle; buy out a lease; or refinance.
  • Home improvement loans. Finance a basement renovation, hot tub, kitchen makeover, landscaping project, solar energy system or Bowl.
  • Recreational loans. Paying for an expensive item, such as a boat, plane, RV, timeshare or destination club, or refinancing a boat loanan RV loan or a boat repair.
  • Loans for family needs. Cover adoption costs, medical or dental procedures, in vitro fertilization and fertility treatments, K-12 education expenses, or weddings.
  • Other purchases. Consolidate your debts, pay for an engagement ring, buy land or fund a small house.

You cannot use a LightStream Loan to:

  • Pay for higher education.
  • Refinance other LightStream loans.
  • Buy bonds, stocks or stock options, or repay a loan against a stock option.
  • Contribute loan proceeds to retirement, life insurance or education savings plans.

If you’re ready to apply for a LightStream Personal Loan, go to and click the yellow Apply Now button.

Next, you’ll select the purpose of your loan and request a loan amount and term to see a monthly payment and an annual percentage rate for the loan. You will then enter personal, professional and financial information before submitting your application.

Applicants will receive a decision promptly during business hours. You will need to sign your loan agreement if the loan is approved, and you could receive your money the same day.

Funds must be transferred to your account within 30 days – 90 days for home improvement loans – or you will need to reapply.

Loan terms, including APR, may differ depending on loan purpose, amount, term and credit profile. The lowest rates require excellent credit.

Loan amounts range from $5,000 to $100,000 with terms of 24 to 144 months.

A half percentage point APR discount is available if you use autopay, and LightStream does not charge any origination, prepayment, or late fees. The maximum APR for a LightStream loan is 20.49%, depending on the lender.

Every credit profile is different, and “we make our credit decision based on the specific facts of that profile,” according to LightStream.

The lender requires an excellent or good creditwhich he describes as follows:

  • At least several years of credit history.
  • Stable and sufficient income and assets to repay your debts. LightStream does not allow borrowers to include income earned in the cannabis industry.
  • Experience with different types of accounts, such as credit cards, car loans and mortgages.
  • Proof of savings, such as retirement savings and college savings accounts.
  • Positive payment history with few, if any, problems repaying debts.

LightStream does not state a minimum credit score to qualify for a personal loan. The lender requires good to excellent credit and assesses each borrower’s ability to repay.

“Ultimately, our determination of good credit is based on whether we conclude that there is a strong likelihood that our loan will be repaid in full and on time,” says Julie Olian, Vice President public relations and social media at LightStream.

Select your desired loan amount and purpose, your credit score range, and your state to see estimated annual percentage rates and loan terms.

LightStream is based in San Diego and lends to borrowers nationwide.

LightStream has an A+ rating from the Better Business Bureau and 2.1 out of 5 stars from Trustpilot, but this score is based on just 10 reviews.

The Consumer Financial Protection Bureau received 47 complaints in 2021 about personal loans from Truist; LightStream is a division of Truist. The main complaints were about getting the loan, unexpected interest and charges, and a problem with the loan repayment process. The company gave a prompt response to all complaints; 42 complaints were closed with explanation, one with monetary relief and four were still ongoing in January 2022.

If you are not satisfied, contact the lender about their loan experience guarantee. You will receive $100 if LightStream receives a completed questionnaire within 30 days of your loan issuance.

If you have any questions, email [email protected] or complete the online form at Contact us. Customer Service will respond during business hours from 9:00 a.m. to 8:00 p.m. Eastern Time, Monday through Friday, and from 12:00 p.m. to 4:00 p.m. Eastern Time, Saturday.

Requests are processed from 10 a.m. to 6 p.m. Monday to Friday and from 1 p.m. to 6 p.m. Saturday and Sunday.

A customer support phone number is not available, but a Webpage FAQs gives quick answers to questions. For example, you cannot change your payment due date after you receive your loan, and you cannot pay at a Truist branch if you are an invoice customer. Notably, you also cannot make same-day online payments and must log into your account at least two business days before the due date.

LightStream’s application process is online, including signing the loan agreement and scheduling the loan deposit. You can use the lender’s rate calculator to view a range of lowest APRs based on loan amount and purpose.

If you have a LightStream online account, you can use it to:

  • Review your loan and payment history.
  • Make additional payments or pay off your loan.
  • Update your contact information or security information, such as your password.
  • Apply for another loan.

Alternatively, the LightStream mobile app lets you check payment due dates, monitor account balances, make payments, and apply for a new loan.

  • People with good to excellent credit.
  • People who don’t want to pay loan fees.
  • People who want an online application process.

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