Yes, you can get two personal loans at the same time. There’s no rule that limits the number of personal loans you can have at one time, so you can have two or more. However, if you already have a personal loan, it will be taken into consideration when you apply for another. Lenders will want to see that you have the financial means to comfortably make both of the loan payments every month before you’ll be approved for a second personal loan.
It’s also important to mention that certain lenders might not approve you for two loans. Many will, and you could be approved for two personal loans through Upstart’s online lending marketplace. But the short answer is the presence of an open personal loan on your credit report doesn’t prevent you from applying for another loan elsewhere.
Are credit cards or personal loans worse for credit?
