Best Credit Builder Loans in South Dakota
Published: 6 July 2024
Author: Noah Gomez
A few South Dakota institutions provide credit builder loans, but
picking the best one for your circumstances isn't easy.
We looked at over 12 banks, credit union, and online providers
to find the most cost-effective and quality options in the market.
Below you'll find an option for everyone, from poor credit to good
credit and cash-strapped to cash-poor.
Best Overall
Lakota Funds Community Development Financial Institution
Avg. Principal: $2,500
Avg. APR: 15%
Avg. Length: 24 months
At 15%, Lakota Funds' credit builder APR almost double the national average, and the term length is 24 months. That said, it offers $2,500 in principal, which is a healthy amount for those rebuilding from more serious mistakes.
Best from Bank (Physical)
BMO Bank
Avg. Principal: $1000
Avg. APR: 12.24%
Avg. Length: 42 months
Best from Credit Union
Lakota Funds Community Development Financial Institution
Avg. Principal: $2,500
Avg. APR: 15%
Avg. Length: 24 months
Best from Digital Lender
Cheese
Avg. Principal: $1,250
Avg. APR: 10.5%
Avg. Length: 12 months
Best South Dakota-Only Credit Builder Loans
Best Multi-State Credit Builder Loans Available in South Dakota
Thick Credit is not a credit repair organization, a credit conseling agency, or a debtor education providor. It does not act on your behalf to communicate with credit reporting agencies or provide pre-bankruptcy credit counseling and pre-discharge debtor education for bankruptcy.
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