LightStream Stops Accepting Applications: What to Do Next

LightStream is no longer accepting new loan applications. Here is what happened, what existing borrowers should do, and how to compare other lenders.

Reviewed by Editorial TeamUpdated
4 min read

If you were planning to apply for a LightStream loan, you cannot. The lender's own website now says it is no longer accepting applications, and NerdWallet's review carries an editor's note that, as of October 16, 2026, LightStream is not accepting new loan applications.

Disclosure: personal-loan.ai may earn a referral fee from lenders in our network. This is a news explainer, not a recommendation of any lender.

What Happened

Three developments came together in mid-October 2026:

  • Applications are closed. The LightStream homepage displays the notice "We are no longer accepting applications." Clients with an active LightStream account can still sign in to manage it.
  • The loan book is being sold. As reported by Money Morning from Truist's third-quarter 2026 earnings, Truist agreed to sell roughly $7.7 billion of unsecured consumer loans, essentially the LightStream portfolio, to the Carlyle Group. The article does not give a closing date.
  • The platform is being retired. According to CNBC, a Truist spokesperson said the LightStream origination platform will be retired and that Truist will no longer offer LightStream loans, while saying the bank remains committed to unsecured personal loans and debt consolidation through its other channels.

Sources differ on one point. Credible reports that in-branch loans remain available through Truist Bank, while CNBC's account is that LightStream loans will no longer be offered. Check directly with Truist if you are a Truist customer interested in a loan from the bank itself.

If You Already Have a LightStream Loan

NerdWallet advises that borrowers with existing LightStream loans should continue making payments as usual. A loan sale does not change your loan agreement: the interest rate, payment amount, and term are set by the contract you signed. Servicing details such as where to send payments can change after a sale, so watch for written notices from LightStream, Truist, or a new servicer.

Two practical steps:

  1. Keep autopay and due dates in place until you receive a written notice telling you something different.
  2. Verify any notice before acting on it. Scammers sometimes exploit loan-servicing transfers, so contact the company through the phone number or website on your original loan paperwork. Our post on what happens when a personal loan is sold to a new servicer walks through what to expect.

If You Were Planning to Apply

LightStream was known for large loan amounts and for advertising that its loans carried no fees. Those two features are the ones to look for when you compare alternatives, but the right choice depends on your credit profile, the amount you need, and what each lender publishes.

Compare on the same terms. Ask each lender for the APR, any origination fee, and the term for the same loan amount, then compare total cost. Our APR calculator shows how a fee changes the true annual cost, and our personal loan calculator shows monthly payments and total interest. Our guide to personal loan fees lists every charge to ask about.

Use soft-pull prequalification first. Most online lenders let you see estimated terms without a hard credit inquiry. Where a lender requires a hard inquiry just to see offers, compare other lenders first.

Lenders to review. We have written profiles of lenders that publish loan terms. These are for comparison only, and none is a recommendation for your situation:

For the full table, see our lender comparison. Credit unions are also worth checking: federal credit unions cap interest rates, and many publish their loan terms online.

Frequently Asked Questions

Is LightStream shutting down? LightStream has stopped accepting new applications, and Truist has said the origination platform will be retired. Existing loans are expected to continue under their current terms, so confirm details with your servicer.

Will my LightStream interest rate change? A loan sale does not by itself change your contract. Fixed-rate loans keep their rate and payment. Contact your servicer or review your loan agreement if you have questions.

Can I refinance my LightStream loan? You can apply to refinance with another lender, which would pay off the LightStream balance. Compare the new offer's APR and fees against what you pay now using our guide to refinancing a personal loan.

Does this affect my credit score? A change in who owns or services your loan does not by itself change your credit history. Keep making payments on time and confirm that your account continues to report correctly.

Sources: NerdWallet's LightStream review, LightStream, CNBC Select, Money Morning. Information as of October 19, 2026; this situation may change.

Editorial disclosure: This article is for general information only and is not financial, legal, or tax advice. Rates, terms, and offers from lenders change frequently — verify any specifics directly with the lender before making a decision.