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LightStream Review

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Sarah Pritzker
Sarah Pritzker
Jan. 24, 20224 min read

LightStream summary

LightStream provides personal unsecured loans of up to $100,000, a higher amount than most lenders offer. Unusually, APRs vary according to the purpose of your loan and not just depending on your financial profile, but there are very few limitations to what you can spend your loan on. LightStream’s low APR and flexible terms are highly appealing but only open to borrowers with good or excellent credit.

Pros

  • Large loans available quickly
  • Flexible terms
  • No fees
  • Very few restrictions on loan purpose

Cons

  • Only on offer to applicants with good or excellent credit
  • No very short-term loans
LightStream at a glance
4.8

Editorial score

Variety of loan types

Offers all loan types

5.0

Online experience

Has learning resources, access to rates, mobile app

5.0

Customer services and support

Multiple ways of reaching lender, wide range of hours

4.0

Loan amount range

Loan amount $50K+

5.0

Repayment flexibility

Loan terms 60 months+

5.0

LightStream  LightStream Visit LightStream

Highlights

  • Unsecured short-term loans

  • Borrow up to $100,000

  • Quick approval process with funding coming through the same day**

  • Flexible terms and repayment schedule

Best For?

Borrowers with good credit

LightStream combines an attractive APR and flexible terms with a fast application and loan approval process that could see the funds arriving in your account as soon as the same day. This makes it appealing to any borrower, but the loans are only on offer to customers with good or excellent credit ratings. LightStream makes a point of rewarding borrowers who have worked up a good credit history with its innovative lending products and proprietary technology, allowing it to offer highly competitive, fixed rate financing.

Large loan amounts

LightStream also offers a much larger maximum borrowing amount than most online lenders, making it ideal for borrowers with good or excellent credit who need a large loan amount in a hurry.

Loan Features

  • No loan fees, including no prepayment or overpayment penalties

  • High maximum loan amount so that your entire financial need can be covered by one loan

  • Use a LightStream loan for any purpose, including Pre-K to 12th grade education, boat financing, and timeshare financing

  • Funds are available fast, arriving in your bank account as soon as the same day**

  • Simple, online application process

  • Rate Beat Program

  • $100 Loan Experience Guarantee***

LightStream doesn’t charge any fees for its loans. That includes no origination fee, application fee, or early prepayment penalties. You can make extra payments and pay off your loan as early as you’d like without extra charges. LightStream also offers a high maximum loan amount of up to $100,000. If you’re facing an emergency or need funds to cover a large purchase, a loan from LightStream is likely to cover all of your needs without leaving you to search for top-up funding elsewhere.

Although you do have to tell LightStream the purpose of your loan and you are obligated to only use the funds for that purpose, there are very few restrictions. LightStream includes loans for home improvement, boat financing, timeshare financing, and pre-K to 12th grade education. LightStream’s entirely online loan approval process is fast and simple, so even large loans can be available in your bank account on the same day that you apply.

LightStream is confident that it offers competitive rates that can't be beaten, and as an example, as part of its Rate Beat Program LightStream says it will beat any APR presented by any other lender by 0.10 percentage points. Each loan page on the website displays rate ranges and potential monthly payments depending on loan amount and terms length before you apply or submit sensitive information so you won't be in for any surprises. Also, if after you receive your loan you are not completely satisfied, LightStream promises to send you $100.

The Application Process

LightStream’s application process is simple, fast, and entirely online. You’ll answer a series of guided loan questions that ask for the following:

  • Your personal details

  • How much you want to borrow

  • The purpose of your loan

  • Your existing income and assets 

It takes just minutes to fill out and you’ll get a response quickly.

Once you’ve received your loan agreement you just need to sign it and send it back to set up your loan. Funds can arrive in your account the same day. LightStream permits joint applications too.

How Much Can You Borrow?

LightStream offers varying loan amounts from $5,000 up to $100,000, but only to borrowers with good or excellent credit scores. LightStream defines good credit as including:

  • Several years (at least 5 for excellent credit) of credit history

  • A credit history that covers a variety of account types (e.g. credit card debt, vehicle loans, mortgage debt)

  • A good payment history

  • Evidence of the ability to save via savings accounts, retirement savings, etc.

  • Stable and sufficient income or assets to repay all debt obligations.

Repayment Terms

LightStream offers flexible repayment terms ranging from 24 months up to 144 months*, depending on the loan purpose and amount.

LightStream charges an APR* or from 2.49% - 19.99% (with autopay)*. The lowest APR rates are available only to borrowers with excellent credit, which is not surprising. LightStream also gives the lowest rates to customers who pay using AutoPay – otherwise rates may be higher than quoted.

LightStream’s interest rates vary depending on the purpose of your loan; and because LightStream doesn’t charge any fees for extra payments or early prepayment, you can pay off your loan as early as you are able to.

Privacy and Security

LightStream shows a commitment to protecting borrowers’ security. The website is entirely covered using HTTPS technology and with Norton security protection. LightStream uses industry-standard encryption and firewalls to safeguard borrower information and only gives employees access to your data on an as-needed basis.

LightStream is open and transparent about what it uses your data for and won’t sell it to any third party or share it outside of its business partners. LightStream adheres to the COPPA regulations.

Help & Support

LightStream’s website is well organized and includes plenty of important information in an easy to find manner. The FAQs are extensive and easy to read. Customer service is available through phone and email during extended working hours but there is no 24/7 customer support or live chat. LightStream does sometimes struggle to communicate clearly with customers, such as when an application is straddling the line between rejection and acceptance.

How LightStream Compares

 

lightstream

marcus

APR

2.49% - 19.99% (with autopay)*

6.99% - 19.99%*

Loan amounts

$5,000 - $100,000

$3,500 - $40,000

Loan term

24 - 144 months*, depending on purpose

36 - 72 months

Best for

Excellent credit, flexible terms

Small all-purpose loans

LightStream provides loans with APRs from 2.49% - 19.99% (with autopay)*, making it an extremely competitive choice compared to other top lenders in the industry, such as SoFi. Both lenders offer similar loan amounts, but LighStream pulls ahead with its lower minimum of 24 months.

Summary

LightStream helped to pioneer online lending in 2005, and is backed by SunTrust Banks, which has more than 125 years experience providing financial confidence. Overall, LightStream is a user-friendly, online, personal loan platform that is good for borrowers with excellent credit who need large loans fast. The flexibility of terms and loan purposes, and very competitive APRs, make it stand out among online lenders – but only for those who qualify.  

Physical Address

303 Peachtree Street NE

Atlanta, Georgia

30308

LightStream  LightStream Visit LightStream

Disclaimer

*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay may be higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66. SunTrust now Truist is an Equal Housing Lender. © 2020 Truist Financial Corporation. SunTrust®, Truist, LightStream®, the LightStream logo, and the SunTrust logo are service marks of Trust Financial Corporation. All rights reserved. All other trademarks are the property of their respective owners. Lending services provided by SunTrust now Truist Bank. 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 us with your funding preferences and relevant banking information; and (3) complete the final verification process. After receiving your loan from us, if you are not completely satisfied with your experience, please contact us. We will email you a questionnaire so we can improve our services. When we receive your completed questionnaire, we will send you $100. Our guarantee expires 30 days after you receive your loan. We reserve the right to change or discontinue our guarantee at any time. Limited to one $100 payment per funded loan. Truist teammates do not qualify for the Loan Experience Guarantee.

Sarah Pritzker
Written bySarah Pritzker

Sarah Pritzker is a content writer with years of experience and a keen interest in the vast world of online consumer products. She enjoys helping readers make sense of the options on the market in financial industries including credit reports, business loans and car loans. She writes for BestMoney and enjoys helping readers make sense of the options on the market.

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  • author
    balaji sharath kumar
    Jun 08, 2022
    light stream never ever calls people…

    light stream never ever calls people and provides a loan if u got any email please check the sender if the sender is from Gmail it is a scam if that email came from lightstream.com it is a legit email please check the domain when u receive any emails. this is for everyone who is in this forum

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  • author
    Janie N Riley Jo
    Jul 28, 2022
    Reading all the reviews makes me even…

    Reading all the reviews makes me even more furious at myself for not doing my homework and letting myself be sucked in by these bottom feeders. Whenever I don't listen to my gut feelings, I get screwed. I'm embarrassed to say that I'm 65 and have lived long enough to know better but I was in a financial crisis and obviously lost control of my senses. My story is the same as most of you..I was approved for 5K almost on the spot and right then I should've known it was too good to be true because my credit is not good at all. I stupidly believed them probably because I wanted so badly for it to work out. I let my emotions take over. Now, I'm out $600 which overdrew my bank account with no hope of ever recovering it. I got a call from my bank's fraud dept and I knew immediately. I changed all my online banking info right away and they (Lightstream) had the audacity to call me and ask me why I did that. I was almost speechless. I said...Are you effing kidding me? Then I got some BS story that she was not in the payment dept and I said...Save it honey...it's all BS and then I wrote a scathing (and that's putting it mildly) email to Jessica Howard, the supposed Loan Director. I got a return email that said..."Thanks and regards" from Jessica. I was able to get her on the phone and I said...What is wrong with you? She said she was not aware of the problem and would straighten it out. I told her I wanted to hear from her before the close of business today...big surprise...no call. I didn't expect one. I honestly would take great pleasure in flying to CA and pay them a little visit in person with my friend who happens to be on a SWAT team...That's how furious I am. These people are why the world is such a hateful place these days...they don't deserve to breath the same oxygen we do...it's just a waste. I'm really rooting for Karma to work it's magic when they least expect it. Just wish I could be there to applaud. Honestly, I am a kind, peace loving old hippie from the Woodstock days, although I may not sound like it right now but I'm just so saddened by what the human race has become and done to our world. Sorry for the ramble but I had to share. Bless you all and be kind to one another...it's our only chance. As Jimi Hendrix said " When the power of love overcomes the love of power, then and only then will we know peace" Be safe friends.

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  • author
    Heather Grimes
    Jul 13, 2022
    I don’t know if this is the same…

    I don’t know if this is the same company or not but I got a phone call about a loan from Light Stream Finance and they said I was approved for a loan of $2,000 and go through the process and they wanted to deposit money into my checking account to verify my account and then for me to send the money back. The guy kept telling me it will bring my credit score up and then they would deposit the $2,000 into my account. I said I need to check with my bank because they hold deposits and I hung up on the guy and called my bank. It’s a scam.

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  • author
    AB
    Jun 04, 2022
    Total scammers

    Total scammers! Unfortunately I fell for this and now out $800. More mad at myself that let them do this to me. Definitely learned my lesson.

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  • author
    Billionairy
    Jun 04, 2022
    BUER BEWARE

    I applied for a car loan yesterday evening and expected a “fast decision”. I received an email at 6:27AM the next morning asking for me to call to answer a couple questions. I called and received an automated message saying that their offices were closed and to call back between 10am and 6pm. I waited until 10am and called again. Agent asked a couple identifying questions and reassured me I would receive an answer “today”. Received an email at 10:24am asking me to upload documents. I did so and completed the project within an hour. Didn’t hear anything, so at 2:40pm, I called again. The agent said it is currently under review, but not to worry because I will receive a decision “TODAY”. I said “that’s great, because I plan to go car shopping tomorrow.” I didn’t hear back by 6pm, so I called again, but offices are apparently now closed. Logged into the application online and it appears that it’s still in process. Sent an email to inquire and quickly received a denial letter within 60 minutes. According to their system, I have an 802 credit score. I have millions of dollars in investments and real estate. I have very little, to no debt at all. I make over $40,000 per month in income. They declined me for reasons that simply do not apply. Clearly they’re trying to attract people by teasing them with low interest rate offers, but really only looking to approve consumers with low income/credit so they can justify charging high interest rates.

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  • author
    mentally lu
    Jun 02, 2022
    UNRPOFESSIONAL SCAM

    This company called me when I DID NOT apply for anything anywhere online, they just HAPPENED to have my number, I work for a loan company myself and I know that it is NOT PROFESSIONAL to talk over the customer, their employee I beleieve he said his name was Jerry, was walking over me after I asked where he obtained my information. They are unprofessional and rude and get your personal information that they BUY from other websites, SCAM

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  • author
    Roberto Benedettini
    Apr 05, 2022
    Spent half hr filling out app

    Spent half hr filling out app. Then password page does not accept password even when tediously following guidelines. Website looks nice, but is crap.

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  • author
    Shakil khan sk
    Mar 25, 2022
    Totally fake

    Totally fake Fraudster But very smart style to cheat T00 many member with this scam With deffrent id s

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  • author
    Lindy Benlehr
    Feb 15, 2022
    Light Stream loans is a scam

    Light Stream loans is a scam. But I want LightStream to know. I was scammed by Light Stream loans. There is a space between Light & Stream on the scammer! They offered me a loan of $3000 @ 7% interest. When I looked them up, your site shows a special rate for new customers of 7% so I thought it was legit until they wanted to make two deposits into my account for bank verification. Then I was to go to Walmart & call them & they would tell me how to return the money! After that they would make my $3000 deposit.

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  • author
    Richard Mark
    Feb 05, 2022
    Lightstream Loans

    I was contacted by some guy who could barely speak a few words of intelligible English, who said his name was Kevin from Lightstream Loans. He was very forceful and told me he already had my banking info, something I found to be disconcerting. In any event, he told me I qualified for a $3k loan, and after I said I'd think about it, he then proceeded to call me about 20 times a day, until I finally told him I wouldn't ever do business with such a sham outfit that harassed people like that. Thinking that would stop them from calling me, I was wrong. They kept calling, from about at least 25 different numbers. Summarily, I will post as many negative reviews online as I can about them, in the hopes that it saves at least one person from becoming involved with these highly unprofessional group of individuals who pretty much broke every FCC rule that is in existence. ∞®ichard Mark∞ Keywords: Lightstream Loans Fraud Scam light stream financial personal business loans

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  • author
    Danny
    Feb 01, 2022
    Incompetent

    Credit score, payment history, income all ignored. Don't know what the hell these people were looking at, but I will refinance my mortgage and dump them.

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  • author
    L.D
    Jan 11, 2022
    I was offered a Pre-Approval for a…

    I was offered a Pre-Approval for a personal loan at a very good interest rate by Lightstream, this was loan request originally started at Experian.com who in turn showed me many offers from various partners they work with, Lightstream had the best & most competitive rates is why I chose to attempt this with them. The application process itself was Not at all as easy as they claim, human emotions such as envy came into play. My income is straight forward with Zero surprises, also I have very little debt as I Own my home & cars outright & have less than $1000 in credit card debt, I Recieve Two US Government Retirements, Military & Social Security. And my Credit is straightforward as well, i have very well established credit for over 25 years and my score at the time was 761 (a Very Good Score). With a debt to income ratio at Under 7% (including the personal loan I would be paying off with proceeds from the new personal loan). My new Debt to income including New Loan would have gone to a Whopping 9%! The problem came down to The Underwriter apparently Not Liking my answers to her repeated questions as to "What I Was Going to Do with The Money"! I told her I was going to pay off an Open Personal Loan that is on my credit report with a bulk of the money, but she kept asking what was I going to do with the rest or the remaining funds...I told her that money would Sit in my Savings until when & if I needed it, and that "it's Personal" which by the way is the definition of what a personal loan means, For Personal Useage! Like I say, she didn't like this answer at which point she tried to tell me she would not give me a Personal Loan in order for me to use a bulk of it "On or for Personal Reasons" and I told her to get outta the "Personal Loan Business"... Needless to say, this was a Huge Waste of my time as well as a Waste of a Hard Inquiry being placed on my Credit, I Refused to Take Some Bait & Switch Loan & Lightstream Received Nothing! I in turn Called my Bank, Navy Federal and Recieved a New Personal Loan with No Questions Asked other than What day of month is a good payment date for me, And the 35k was in my savings account in Lightstream type Speed within 5 Minutes! Did I Mention I have Very Good Credit with good income & No Debts??? When you play games be prepared for those of us Who Don't Need & are Not Desperate to Walk Away on the Drop of a Dime! Be Careful with Lightstream, they have large fees that are not part of the APR, Just be Careful at what you sign, there are Many Different Options in today's Highly Advanced Day & Age, Options that are Honest & without Games!

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  • author
    Sam
    Jan 05, 2022
    Time wasters that lie. Don't waste your time with the phoney preapproved offer they send!!

    Terrible! Don't trust them or waste your time. Sent me a preapproved offer for 30k. Applied and they didn't approve me for anything. Not even a 1000 dollars, lol. My score is over 800, have had many other personal loans of greater value, all paid on time. Have other offers now on the table, just thought I would check out their offer of the lower interest rate they offered me. Liars. Now, I will have that hard check on my credit for when I go to apply to an actual legitimate bank, lol. You don't want that. Don't waste your time only to end up with an inquiry on your credit report. This Bank is at the very bottom of so called banks. Luckily I'm not in some desperate position as some others may be in, maybe they need money for an operation or to get away from someone abusive and this bank will come along and mess that up for that "needy person". Their "word" means nothing.

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  • author
    shadi shadibadhotmail.com
    Dec 16, 2021
    You advertised 3.69% for perfect credit…

    You advertised 3.69% for perfect credit for 84 months. My credit is 750 and the rate was %6.44 . Not only is that false advertising but now I have a ding on my amazing credit from your garbage company. I will make sure to give you a bad review on any platform I think of

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  • author
    Ali Malik
    Nov 17, 2021
    I had not issue at all

    I had a good experience with lightStream. The process was simple and easy and in 2-3 days I got approved. The money was in my account and I was able to buy my car. I had no issues with the process and the rate calculator gives you a good idea about what you are getting into. Better than get finance with a dealer.

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  • author
    David Carozza
    Jun 22, 2021
    Garbage company and deceptive practices

    Garbage company and deceptive ads! They claim the process to be extremely easy especially with people with excellent credit (over 840 credit score). I applied for a loan to do some home improvements thinking it would be easy and painless. Nothing of the sort! They are a complete joke. I withdrew my application and decided to just go with my local bank which was easy and seem less with a person of my credit worthiness. If you have excellent credit do yourself a favor and avoid these people at all costs. Scam company at best

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  • author
    T L
    Jun 10, 2021
    LightStream is Unresponsive and Unprofessional

    The LightStream fintech lending division of Truist Bank is inept and unprofessional. They operate as if they started business yesterday, and seem unacquainted with consumer lending laws, bank compliance or regulations. They are not professional, and Truist Bank (formerly known as BB&T and SunTrust Bank) provides no discernible oversight, escalation of consumer complaints, or support to this shoe-string operation. Avoid at all costs.

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  • author
    Tia
    Feb 01, 2021
    Hard to get refinance with great credit

    I have perfect credit and had a hard time to get an auto refinance. The company did not offer a better APR as suggested. They could not beat my current rate. They told me it is possible only if I try again to refinance with another company and see if they can beat that rate. I did not understand their logic.

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  • author
    John Culbertson
    Dec 08, 2020
    Lightstream doesn't care about the consumer!

    Terrible customer service and an unwillingness to work with the consumer. My company recently moved my pay dates back by 2 days. I called Lightstream simply to move my auto debit back to align with these new dates. They not only are unwilling to move this date back by two days, they are increacing my rate by .5% if I cancel my autopay. Horrible customer service, especially in the middle of a pandemic. Avoid this company at all costs!

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  • author
    BK
    Jul 03, 2020
    Really bad company - bait + switch tactics

    Really bad company - bait + switch tactics - had previously been approved for a rate of around 7%, then now it's over 10% despite have far better credit history etc. This company has bait and switch, they publish great rates, but then for someone with a 800+ FICO, with lots of extra cash, capital, etc. They then only approve a rate of 10.19% when they publish a 6.39% headline rate. Misleading. Not happy.

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  • author
    LavishM
    Jun 18, 2020
    SCAM Lender, Consumer beware!

    SCAM! CONSUMER BEWARE! I have excellent credit and wanted a debt consolidation loan. Lending Tree said I was Pre-Approved through several lenders. I choose LightStream under the pretense that I was pre-approved because BOTH LENDING TREE AND LIGHTSTREAM websites said I was pre-approved. But atlas, my loan application was denied. I would've never applied had the websites not said I was Pre-Approved. Absolute SCAM. Stay away!

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  • author
    Matt Hurley
    May 01, 2020
    You'll regret it!

    Cheap now, Pay later! Easy process of getting money....downhill from there. Look elsewhere! All reviews are from them processing payments, but have you ever seen a review afterward?! Min $100 payments, some payments take up to 4 days to pull and they charge you interest in the meantime! There system messed up, called in for final payoff, clicked the "payoff final amount", and my loan is still having problems! Rep told me to just make another payment and ask for a refund later! Seriously!

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  • author
    Anonymous
    Mar 31, 2020
    Terrible- Rejected excellent credit loan application

    Terrible! I have excellent credit, been a SunTrust customer for over 15 years applied for a loan to help pay off a credit card balance of just over $6000 and instantly got turned down! Friends have told me that everybody that applies online will get rejected, they say I should have applied in person...Thats terrible customer service, I'm a client, they should know my reputation by my history in their file system. They claim to help people in need during this corona virus pandemic- except for me! I applied somewhere else and got approved immediately, took less than 3 days to get funds in my account! Applied ONLINE!!! Better rate too. I don't need Lightstream!

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  • author
    PRodriguez
    Oct 12, 2019
    Best financial company I’ve dealt with ever!

    Wow wow wow! They’re by far the best financial company I’ve ever dealt with. My loan was approved within hours (talk about fast approvals!) I received a super competitive fixed interest rate and the term that I wanted. I’m extremely satisfied and I highly recommend LightStream to anyone looking for a competitive interest rate, flexible terms, fast approval, and a hassle-free experience.

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  • author
    Mark
    Apr 30, 2019
    The best loan I've ever had

    The best loan I've ever had. For openers they'll give you $100 if it isn't the best loan you've ever had. If their rate isn't the lowest they give you a credit as well. I have a high credit score so they gave me the loan with absolutely no documentation. In the three years I never had the slightest problem. AMAZING

    ...

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