7 Personal Loans for Non-U.S. Citizens and How to Get One
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Qualifying for a personal loan can be challenging for anyone, but those who are not United States citizens may have an especially difficult time. Many lenders have strict eligibility requirements that leave non-U.S. citizens with limited access to affordable financing. If you can’t qualify for a personal loan, consider low-cost alternatives.
Can non-U.S. citizens get personal loans?
Non-U.S. citizens can get personal loans, but eligibility requirements vary by lender and it’s generally tougher than if you were a citizen.
Some lenders may consider non-citizens high-risk borrowers based on two factors: the duration of their stay in the country and a potential lack of credit.
Since personal loans have long repayment terms — two to seven years, but sometimes longer — lenders could be concerned that you may leave the country before you repay the loan in full. Non-citizens also need time to build credit and may have nonexistent or low credit scores.
Lawful permanent residents, also known as green card holders, will have the easiest time applying for a personal loan because they can usually show long-term status in the country and provide Social Security numbers, which help lenders assess credit.
Lenders may also accept an Individual Taxpayer Identification Number, or ITIN, instead of a Social Security number, though it’s not as common.
In addition to permanent residency, some lenders accept a valid visa. Visas that show you’ll be in the country longer than the loan term you’re applying for may be especially helpful.
The Equal Credit Opportunity Act protects credit applicants from discrimination based on their national origin or race. Though lenders can review immigration status on a loan application, it should not be the basis of their approval decision, according to the Consumer Financial Protection Bureau. If you think you’ve been unfairly discriminated against based on your immigration status, you can submit a complaint via the CFPB’s website or by calling 855-411-2372. More than 180 languages are available via phone.
7 personal loans for non-U.S. citizens
These seven lenders accept applications from permanent residents, visa holders and other immigrants. In some cases, you’ll need to provide documentation, such as a copy of your green card or visa.
1. SoFi
SoFi offers personal loans to borrowers with good credit (scores above 689). SoFi also lets borrowers add a co-borrower to apply for a joint loan.
Minimum credit score: None.
Loan amounts available: $5,000-$100,000.
Terms available: Two to seven years.
Eligibility requirements: Applicants can be permanent U.S. residents or non-permanent residents. Permanent U.S. residents must show proof of a Green Card with at least two years of total validity. Non-permanent residents, including DACA recipients and asylum seekers, need to have an E-2, E-3, H-1B, J-1, L-1 or O-1 visa or a Form I-797A or I-797B.
» MORE: SoFi personal loan review
2. LendingClub
LendingClub offers personal loans to borrowers with good or fair credit. It may be an especially good fit if you need a personal loan to consolidate and pay off debt.
Minimum credit score: 600.
Loan amounts available: $1,000-$40,000.
Terms available: Two to five years.
Eligibility requirements: Applicants must be permanent U.S. residents or visa holders.
» MORE: LendingClub personal loan review
3. Upgrade
Upgrade accepts borrowers with bad credit (scores below 630). Upgrade customers can sign up for free credit score monitoring and get tips to build credit.
Minimum credit score: 560.
Loan amounts available: $1,000-$50,000.
Terms available: Three to five years. Seven years on some larger loans.
Eligibility requirements: Applicants must be permanent U.S. residents or visa holders.
» MORE: Upgrade personal loan review
4. Universal Credit
Universal Credit is an offshoot of Upgrade, but borrowers with low credit scores may have a better chance of qualifying with Universal Credit.
Minimum credit score: 560.
Loan amounts available: $1,000-$50,000.
Terms available: Three or five years.
Eligibility requirements: Applicants must be permanent U.S. residents or visa holders.
5. Oportun
Oportun provides personal loans, including co-signed loans, to low- and moderate-income borrowers with limited or no credit history. Oportun accepts ITINs and ID cards issued in other countries.
Minimum credit score: None.
Loan amounts available: $300-$10,000.
Terms available: One to five years.
Eligibility requirements: According to a company representative, applicants need to show a valid, permanent U.S. address.
» MORE: Oportun personal loan review
6. Best Egg
Best Egg provides personal loans to borrowers with fair to good credit. Best Egg offers both unsecured and secured personal loans.
Minimum credit score: 600.
Loan amounts available: $2,000-$50,000.
Terms available: Three to five years.
Eligibility requirements: Applicants must be permanent U.S. residents.
» MORE: Best Egg personal loan review
7. Capital Good Fund
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Capital Good Fund serves borrowers with low income and thin or bad credit. It has several types of loans, including a loan to cover immigration-related costs.
Minimum credit score: None.
Loan amounts available: $300-$25,000.
Terms available: 15 months to seven years.
Eligibility requirements: Applicants must provide a SSN or ITIN, plus a form of identification.
Applying for a personal loan as a non-U.S. citizen
Applying for a personal loan is a straightforward process that can mostly be done online. You can also apply over the phone or in person at a bank or credit union.
To apply, you’ll usually need to meet the following criteria:
Be 18 years or older.
Show proof of identity with a government-issued ID.
Provide a U.S.-based address.
List contact details like a phone number and email address.
Show proof of income and employment.
Almost all applications require a SSN or ITIN to pull your credit. Though some lenders cater specifically to borrowers with bad credit or thin credit histories, many like to see good credit and two to three years of credit history.
» MORE: Best personal loans
Pre-qualifying for a personal loan
If possible, pre-qualify with the lender to see if you clear its credit requirement. Pre-qualifying includes a soft credit pull, which won’t affect your credit score.
Adding a co-signer to your application
If you’re unable to qualify on your own, adding a co-signer — preferably a U.S. citizen — may increase your chances of getting approved for a personal loan or help you get a lower interest rate or higher loan amount.
A co-signer is someone who adds their name to the primary borrower’s loan application. Though this person won’t have access to the loan funds, they're legally responsible for the loan amount and any additional fees if you’re unable to pay.
» COMPARE: Personal loans with a co-signer
Adding collateral to secure the loan
Lenders often view secured loans as less risky than unsecured loans, because they can take the collateral to offset a financial loss if a borrower defaults on a loan. You may have a better chance of qualifying for a personal loan as a non-U.S. citizen if you opt for a secured personal loan.
Not all lenders offer this option, but Best Egg, Oportun and Upgrade provide secured loans. Lenders typically accept a vehicle or savings account as collateral.
Alternatives to personal loans for non-U.S. citizens
If you can’t qualify for a personal loan, there are other financing options available. Stay clear of short-term, high-cost loans, like payday loans, which can trap you in a cycle of debt, and consider more affordable alternatives instead.
Lending circles: Lending circles are groups that pool their resources to provide no-interest loans to members on a rotating basis. There may already be lending circles in your community, but if you’re not sure where to start, you can apply with Mission Asset Fund, which matches you with a local lending group of six to 12 people. Loan amounts range from $300 to $2,400.
Specialized loans from local credit unions: Your local credit union may offer loans specifically for non-citizens. Many of these loans cover costs related to gaining citizenship and may be called immigration loans, dreamer loans or citizenship loans. Many credit unions also offer ITIN loans, which are loans you can apply for with an ITIN instead of a SSN. You’ll need to become a member of the credit union before applying.
Local community organizations: If you need to cover an emergency expense, like a car repair or medical bill, a nonprofit organization may be able to help. Check NerdWallet’s database of local financial assistance programs, which has a list of resources in each state, to learn more.
Family loans: Borrowing from a family member or friend requires no formal application and it could come with little to no interest. Draft up a loan agreement to ensure both parties consent to the terms of the family loan. Make sure to sign and notarize the agreement.
More NerdWallet resources for non-citizens
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