What do you need for a personal loan
To get a personal loan, you usually need a valid government ID, proof of steady income, an active bank account, a way to be reached and an age of at least 18. Most lenders also check your credit. The exact list changes by lender and by state, so treat this as what to expect, not a promise of approval.
Updated November 7, 2026. MadisonFinancials is not a lender and makes no loan decisions.
What documents do lenders usually ask for?
Most lenders want to confirm three things: who you are, that money comes in regularly, and where to send and collect payments. This table shows the usual items and why each one is asked for.
| What they ask for | Why they ask | Common examples |
|---|---|---|
| Identity | To confirm you are who you say you are | Driver's license, state ID, passport |
| Age and residence | Loans are regulated state by state | Date of birth, home address, proof of address |
| Income | To judge whether the payment fits | Pay stubs, bank statements, benefit letters |
| Bank account | To send the funds and often to take payments | Routing and account number |
| Contact details | To reach you about the loan | Mobile number, email address |
| Social Security number | To run a credit check | Full number or last four digits, depending on the lender |
You will rarely need all of this for the first step. A short request usually asks for basic details, and a lender may ask for documents later if it wants to go further with you.
What credit score do you need for a personal loan?
There is no single score that every lender uses. Each lender sets its own rules and looks at more than one number, such as your income, your existing debts and your recent payment history. A lower score may mean a smaller amount or a higher rate, and it can also mean a no. Nobody honest can tell you the result before a lender has looked at your details.
Checking your options through this site won't affect your credit score. If you go further with a lender, it may run a hard inquiry. The Consumer Financial Protection Bureau explains that hard inquiries can lower your score, while soft inquiries will not affect it (page read November 7, 2026).
Can you qualify without a regular job?
Some lenders count income other than a paycheck. That can include benefits, a pension, self employment or regular gig work. What counts is up to each lender, and income that swings from month to month may need more proof, such as several months of bank statements.
If your money comes in unevenly, work out what you could pay in your lowest month, and judge any payment against that number instead of your best month.
What changes from state to state?
States set many of the rules for small loans, including whether certain loan types are allowed, how much they can cost and how long they can run. Some lenders do not work in every state. This site's footer lists states where our service is not available. Your state's financial regulator can tell you whether a lender holds the license it needs.
What should you have ready before you ask?
- The exact amount you need, ideally from a written quote or a bill, plus a plain idea of why.
- Your monthly income and the date it arrives.
- Your regular bills, so you can see what payment you could keep up with.
- Your ID and bank details, kept close by in case a lender asks for them.
- Your repair quote or bill, if the money is for something specific. See can you get a loan for a home repair.
How do you tell a real lender from a scam?
Check before you share bank details. The Federal Trade Commission says legitimate lenders do not promise a loan before reviewing your credit history, and no legitimate lender will say a fee guarantees you the loan (page read November 7, 2026). It also warns about fees that are not disclosed before you apply and fees described as insurance, processing or paperwork.
A real offer shows the annual percentage rate, the fees, the payment amount and the due dates in writing. If any of those are missing, or someone hurries you past them, stop and walk away.
What happens after you send the basics?
A lender reviews what you sent and may ask for more. If it can help, it shows you an offer with its own terms. You can read it, ask questions, accept it or decline it. How long that takes is covered in how long does a personal loan take. If you are still deciding whether to borrow at all, it may help to read personal loan vs asking family first.
Quick questions
Do you need a bank account for a personal loan?
Most online lenders ask for an active bank account, because that is where the funds go and often where payments are collected. Some lenders may accept other arrangements, but you should expect to be asked for one.
Do you need a cosigner?
Usually not for a small personal loan, though some lenders allow one and it can help with approval or rate. A cosigner takes on real responsibility for the debt, so both of you should read the agreement before signing.
How old do you have to be?
Generally at least 18, and a few states set a higher age for signing a binding contract. A lender will tell you its own rule for your state.
What can make a lender say no?
Common reasons include income the lender cannot confirm, too much existing debt, recent missed payments, a state the lender does not serve, or details that do not match. A no from one lender does not mean every lender would say the same.
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