Online Personal Loans in Connecticut
A balanced and affordable loan type, online personal loans in Connecticut are good options especially for borrowers with above average credit scores. Although lower credit scores can be accepted, they will influence the amount that can be borrowed as well as the loan term and interest rate. But the right borrower will be able to borrow up to $5,000 at rates as low as 11.24% APR over a period of time up to 36 months. As far as online loans go, personal loans in Connecticut are some of the cheapest and more convenient ways to borrow.
Connecticut - Rates & Terms
$1,000 - $5,000
Interest Rate / APR:
12 months - 36 months
If you meet the requirements and qualify for one of our personal loans we will provide you with a financial solution tailored to your needs, based on your financial eligibility. Once approved for a loan you will be provided the full details of the offer including: interest rate, repayment term, payment amount and the total cost of the loan.
Credit Scores in Connecticut:
As mentioned before, the state of Connecticut is one of the wealthiest states in the country, ranking first according to income per capita. This wealth is also reflected in the average credit score of the state, which was 705 in 2011 when Experian, one of the largest credit reporting agencies in the US performed a study of over 3 million credit profiles with scores ranging from 330 to 830. Connecticut ranked 11th out of all the 50 states, as the US average at that time was 687.
More about Installment Loans in Connecticut
Connecticut, the "Constitution State" or "The Land of Steady Habits" although one of the smallest states in the country by area is one of the most important states in the country having a lot of influence in the development of the US federal government. Connecticut is the 3rd smallest state while ranking on the 29th stop according to population and 4th place based on population density. The name of this state is derived from the anglicized spellings of the Algonquian word for "Long tidal River", which refers to the Connecticut River.
Connecticut is the southernmost state in the region of the country known as New England. The most southern and western parts of the state are included in the New York metropolitan area known as the Tri-State area.
According to 2013 estimations the State of Connecticut had the highest per capita income ($60,847) in the country and the third highest number of millionaires per capita in the United States (7.32%). The largest and most important industries in Connecticut are finance and insurance which generated 16.4% of the states gross domestic product in 2009 and the 3rd largest industry is manufacturing. Connecticut also has a long lasting maritime tradition because of it's many settlements along the Connecticut and Thames rivers and ports along the Long Island Sound.
Although the state of Connecticut has a large percentage of millionaires residing within it's borders it also has the 2nd largest gap between the top 1% and the bottom 99%. This means that there are many residents with below average income which may need to apply for financial help from time to time. For those residents there are personal loans in Connecticut that can accessed online in only a few minutes. These loans can offer amounts of up to $5,000 at low rates and can be repaid in installments over periods of up to 3 years.
State of Connecticut Economic Indicators:
- Income per capita: $56,001 (2010)
- Average weekly wage: $1,009 (third quarter of 2013)
- Average household income: $65,753 (2011) 
- State Expenditures ($ in Millions): 28,138 (2013) 
- Unemployment rate: 6.9% (April 2014)