Can You Get a Personal Loan as a Non-U.S. Citizen?
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The short answer to whether non-U.S. citizens can get a personal loan in the United States is “Yes.” There are, however, some restrictions which can make it a little more difficult. You also have to know where to look, because not all lending institutions will loan money to non-U.S. citizens.
Lenders Who Offer Personal Loans to Non-U.S. Citizens
There are plenty of lenders who will gladly issue loans to non-U.S. citizens. Companies such as LendingClub, Prosper, and Avant consider applications from non-U.S. citizens. Other lenders, such as Stilt, specialize in personal loans to nonresidents.
| Company | Loan Amounts | Eligibility Requirements |
| Stilt | $1,000 – $35,000 | CPT, OPT, H-1B, O-1, L-1, TN, J-1, or DACA |
| LendingClub | Up to $40,000 | Permanent resident or a long term visa |
| Prosper | $2,000 – $40,000 | Must be a U.S. resident |
| Avant | $2,000 – $35,000 | Must be a U.S. resident |
What Non-Residents Need to Qualify for a Personal Loan
Although getting a personal loan is not quite as easy as filling out an application, with a little legwork and preparation, nonresidents have as good a chance as anyone to get one. You will need to work on creating a credit package and gathering some documents.
Credit Qualifications
With some lenders, a two-year credit history and a valid credit score is all that is needed, though that alone can be a difficult requirement for many nonresidents. In many cases, you will have to bolster your credit package with some additional information and documentation.
In essence, you will need to convert your existing credit into acceptable U.S. credit to be considered for a personal loan. Here are a few steps to take:
- Gather two years worth of at least three accounts for which you have made consistent and on-time payments, such as a utility bill, a life insurance policy, or a rental contract.
- Obtain a report of your credit activities from a credit reporting agency in your home country.
- Obtain some nontraditional credit references from companies or institutions to which you have made on-time payments for at least one year, including college tuition and health insurance.
Not a U.S. Citizen and need a personal loan?
- If you’re new to the U.S. and don’t have an SSN yet, you are still eligible to apply
- Do not need a U.S. citizen or permanent resident cosigner to apply
- No prepayment fees
Required Paperwork
You are more likely to get a loan if you can demonstrate you will be staying in the U.S. for at least three years of the loan term and the potential is great for having your visa renewed.
If you are attending a college in the U.S. you need to be able to show how long you plan to remain here. If you are working, the company you work for needs to be e-verified.
When you apply for a loan you will need to bring the following documents:
- A valid visa – either E1, E2, H1B, H2A, H2B, L1, G series or 0-1
- Employment authorization form I-765, I-766 or 1-797A
>> Read More: Personal Loans for H1B Visa Holders
Work With a Specialist
Your chances of success can increase dramatically when you seek out a lender that specializes in lending to nonresidents. They usually have the structure, processes, and the understanding necessary to help nonresidents obtain a loan.
One of the more notable lenders in the nonresident space is Stilt, a San Francisco-based Fintech firm that focuses on foreign national borrowers with limited or non-existent credit histories.
Stilt has no minimum income requirement, but you need to have a full-time job or verifiable offer for starting one within the next 6 months. In addition to your credit score, Stilt considers your potential credit behavior based on such factors as your education background, work experience and savings rate.
Borrowers with demonstrative good financial behavior and a high credit score can qualify for a rate as low as 10%, which is fairly standard for nonresident personal loans.
Why Most Lending Institutions Won’t Lend to Non-U.S. Citizens
Generally, lenders consider non-U.S. citizens, regardless of their visa status, income, and financial stability, to be a high risk. Most visa holders are in this country for a limited time and, once they leave, U.S. laws don’t always apply to them.
While some lenders will consider an applicant’s comprehensive profile in determining eligibility, most require at least a six-year credit history. Many banks will only issue a personal loan to a non-U.S. citizen if there is an eligible cosigner on the loan.
Bottom Line
If you are a foreign national in need of a personal loan, there is no need to despair because financing is available. The more prepared you are by compiling a credit profile and gathering documents, the better your chances of obtaining a loan. The worst case would mean finding a U.S. citizen willing to sponsor you by cosigning your loan.
Check out our page to learn more about how personal loans work.
26 Comments
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Hey Alain,
This article is for Non-U.S. Citizens in the United States. I don’t think that the information contained in this article is relevant to your personal situation.
Hey ,
we are looking for a personal loan $3000 . we are on visa L1 . are we eligible to get personal loan . Because i tried with STILT we got dennied as we are from missouri state . Could help us with any other option
Hey Pooja,
If you are a student, Boro, can lend out people with L1 Visas. Their review is below:
Hi I am not from US will I be qualified for a small $500 loan? I am only going to use it for the upfront payment for an investment of cryptocurrency it wont take a week and it will be paid off. If yes kindly email me how please its really urgent.
Hey Noel,
Here some blog posts with some more information on cryptocurrency:
Hello,am from Kenya and I have been looking for a loan,is it possible to get one?
Hey Janet,
Have you tried any of the personal loan options on the current page?
Hi,
I am looking for a personal loan, I need $40.000, I applied for asylum and I am in a pending status now. I have a work permit (EAD & SSN), more than 3 years old credit history and my credit score is around 740. I tried upstart, lendingclub, lendingtree. before they let me sumbit my application they say they are unable to give me a loan. Any information would be greatly appreciated.
Hey Baran,
Thanks for reading! Did those lenders give any other reasons why you were not accepted or was it solely based on your citizenship status?
Hi, I am non-immigrant under TN work authorization for three years, new to USA with no credit history. I need $5000 urgent loan for relocation purpose. Can you please advise me who can lend me at this situation? Many thanks.
Hey Shahran,
Stilt is a personal loan lender that offers loans to individuals who hold F-1, OPT, H-1B, O-1, L-1, G, and TN visas. Below is their review:
Hello, I am from India and I want a personal loan for my pilot training, the cost is about $80000 also I have a US cosingner. Am I eligible to take a loan
Hey Noorul,
Thank you for reading! Below is one of the more popular personal loan lenders for non-US residents:
Hi. I have owned the same house in the USA for over 11 years, and a mortgage as long as well as bank accounts as long. This house is my vacation home. I have not got a SSN so my bank want lend me a home improvement loan. Do you know of any loan company that might?
Hey Karl,
Below is a blog post with more information on the best home improvement loans:
I have $5000 loan back in my country, taken for my college fees in USA. I am paying higher interest rate on it( 12.5%). I am thinking to get personal loan (or any other loan) and repay my existing loan. Can you please guide me of different ways, how can I have loan?
Recently I got job and my company is e-verfied.
Hey Swapnil,
Thanks for the post! The article below may help you out:
I need a loan of $2,000. I have a family member in jail, and his mom is not a U.S. citizen. She has asked me to apply for the loan, but I don’t want that held against me. Is she able to apply for the loan? And if so, what paperwork would she need to bring to a loaning company?
Hi, I just tried LightStream and got rejected even with a 730 credit score. That’s crazy, some banks would give loan to people in debt. This is so frustating!
Hey Amy,
I’m sorry you had a frustrating experience. Below is a blog post breaking down more possible personal loan options:
i need a cosigner to get personal loan. im an international student and will be a freshmen in August in 2018
Hi Ayesha,
If you are looking for a loan to help pay for college, you should look into getting a student loan. Below is an article for more information about student loans for Non-U.S. Citizens:
I am looking for a loan of between 5 and 10,000 dollars.
I have a US bank account but not a social security number as I am a british citizen, can you advise me ?
Hey Charlotte,
Below you can compare some of the lenders mentioned above who could possibly loan to a non US Citizen:
I’m interested in a non U.s citizen loan. I am in desperate need to buy a used car.
Hey Robyn,
Check out our Auto Loans Page: