LightStream Review


 Loan typesUnsecured and secured short-term personal loans
 Loan amount$5,000-$100,000
 Repayment Terms   24-84 months
 APR4.99% - 14.24% w/AutoPay
 Best forThose with excellent credit who need a quick loan

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LightStream at a Glance

Lightstream provides personal secured and unsecured loans of up to $100,000, which is 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.

Key features:

  • Unsecured short-term loans and secured short-term auto loans
  • Borrow up to $100,000
  • Quick approval process with funding coming through the same day**
  • Flexible terms and repayment schedule

Best For?

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 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

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.

  • 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

Pros and Cons

  • Large loans available quickly
  • Flexible terms
  • No fees
  • Very few restrictions on the purpose of your loan
  • Only on offer to applicants with good or excellent credit
  • Customer service could be improved

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 your personal details, how much you want to borrow and for what purpose, and 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

A secured auto loan has some added requirements that include buying the car from an automobile dealer or private seller within the United States.

Repayment Terms

LightStream offers flexible repayment terms ranging from 24 months up to 84 months. Loans for smaller amounts (up to $24,999) are only available for loan repayment periods up to 72 months.

LightStream charges an APR* of from 4.99% to 14.24%. 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 are all 0.50% higher than quoted.

LightStream’s interest rates vary depending on the purpose of your loan, so a new auto purchase loan has a lower range of interest rates than a medical expense or credit card debt consolidation loan.

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.

How Safe Is It?

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.


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


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*Your APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay discount, which is only available when you select AutoPay prior to loan funding. Rates under the invoicing option are 0.50% 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.

** 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.

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