Private Small

Private Small

Updated May 6, 2022

Scott Witt , Elder Home Care Expert

Jeff Hoyt , Editor in Chief

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Scott Witt

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Jeff Hoyt

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There may come a time when you cannot take care of yourself alone or a loved one may no longer be able to provide the care you need. If you find yourself in this type of situation, it’s important to be educated about the many different types of senior living options that are available.
Years ago when people thought about senior living, an image of a nursing home immediately came to mind and it stopped there. Fast forward a few decades and there are now many senior living communities out there. From skilled nursing to assisted living to retirement communities, the options are endless.
If you are still fairly independent and are looking for more personal care as you explore senior living, you may want to look into private assisted living.
Private assisted living refers to homes or facilities that are privately owned rather than affiliated with a hospital or other medical organization. Privately held management companies usually run the day to day operations of these assisted living facilities. They are geared towards seniors who may no longer be able to live at home safely, but do not need the level of medical attention offered at a nursing home . Many seniors at assisted living facilities are still fairly independent and can get around on their own.
Privately owned assisted living facilities make residents feel as though they are living in more of a regular home than a “facility”. It gives seniors the ability to live at “home” while receiving extra help and without having to worry about daily chores. In some cases, private assisted living facilities are located at homes that have been converted to suit the needs of assisted living. In other cases, they are more resort-like with beautiful landscaping and gardens.
Due to the fewer number of residents, there is more one-on-one interaction with staff at privately owned assisted living homes. Privately owned assisted living homes do have staff on hand to deal with many medical needs of their residents as well as personal needs like bathing and getting dressed.
Because they are privately owned, home cooked meals are usually the rule rather than the exception. Weekly housekeeping services are also available, as well as transportation to area attractions and religious services .
Besides the services offered, private assisted living homes also help to foster friendships. Many are tight-knit communities , so people get to know one another more quickly and on a deeper level than at other facilities. This interaction is beneficial in warding off depression among seniors which can sometimes become an issue.
Assisted living is typically less expensive than a nursing home due to the fact that there is less medical attention needed. But, the cost is still something to consider as you search for the right type of senior living for your situation. Private assisted living can range anywhere from $2,000 a month to nearly $7,000 a month. The cost depends on the facility as well as where it is geographically located.
It’s important to know that Medicare typically does not pay for assisted living. Medicaid coverage is also highly unlikely, although it depends on individual state regulations. So, you need to check where you live.
If you are a veteran, there may be some benefits available that will cover the cost of assisted living, or at least part of it. Each plan is different, so you need to check with your Veterans Affairs office to see what type of help you may be eligible to get.
When aid is not an option, many look to their long-term insurance policies or life insurance policies to cover the cost. If the only option is out-of-pocket payment, many rent or sell their current homes or take a loan to pay for assisted living.
When looking into private assisted living you should first tour the facility. Here you’ll not only get a first-hand look at the up-keep, but also the types of residents who already live there. Ask yourself these questions:
If you answer “yes” to these questions your next step should be to do your homework. Check for violations, complaints, and look at inspection records. If the facility has passed inspections, has no or few violations or complaints, you’re probably in good shape.
Next, check the activities and amenities.
If you are satisfied with the activities and amenities, it’s time to look into the financial aspect.
While you may have found the “perfect” facility, if you can’t afford it, the stress of finances is not worth the price of admission.
Finding a private assisted living home is easy when yo use our site. Let us do the work for you. Just type in your zip code and search our extensive database of private assisted living in your area. If you need assistance over the phone, call us on our senior helpline . Our staff is available daily from 4a.m. -8p.m. PST to take care of your needs.
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Scott founded Select Home Care Portland in 2009 and has been helping seniors live their best life at home or in their local senior community ever since. As an advocate for seniors, the primary philosophy has been to listen, educate and provide… Learn More About Scott Witt
Since graduating from Harvard with an honors degree in Statistics, Jeff has been creating content in print, online, and on television. Much of his work has been dedicated to informing seniors on how to live better lives. As Editor-in-Chief of the personal… Learn More About Jeff Hoyt
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A freelance writer with more than three years of researching and writing about personal loans, insurance, credit cards, and more, Lindsay's work has appeared on sites such as Insurify, Bankrate, and The Simple Dollar.

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Sometimes, a small personal loan is all you need—a couple of thousand bucks or less is enough to cover that emergency expense or fund that necessary purchase. But some personal loan lenders have higher minimum borrowing amounts, and others charge higher rates to borrowers who need a small amount of cash.

The best small personal loans come with affordable rates, a low minimum borrowing amount, flexible repayment terms, and fast funding. You can get a small personal loan from an online lender, bank, or credit union. It’s a good idea to compare a few different lenders during your search. The right small personal loan for you will depend on your timeline and credit score, and the features you think are most important.

Upgrade checks the boxes for the best small personal loan, with flexible repayment terms and a low minimum borrowing amount.

APR range is higher than some other lenders

Upgrade offers a low minimum borrowing amount, with loans starting at $1,000, fast funding, and flexible repayment options.

Upgrade was founded in 2017 by pioneers in the fintech space, and since then more than 15 million people have borrowed $10 billion in credit from Upgrade. Besides personal loans, Upgrade also offers a rewards checking account and credit card.

You can check your rate with Upgrade without hurting your credit. Once you formally apply and accept a loan offer, which will require a hard credit check , you can receive your funds in as little as one business day. An origination fee of 1.85% to 8% of the loan amount will be deducted from the loan proceeds. However, the maximum late payment fee is only $10 and there are no prepayment penalties.

While we’ve seen lower starting rates at other lenders, Upgrade offers two discounts:

There’s no minimum income, but you will need to provide proof of income. You’ll also need to be a U.S. citizen or permanent resident, be at least 18 years old, and have a bank account and email address. Upgrade loans are not available Washington D.C. If you have trouble qualifying, Upgrade allows joint applications, and a co-borrower with a higher credit score may improve your chances of being approved.

Lightstream is one of few lenders to offer loans with zero fees—there are no prepayment penalties, late fees, or origination fees. The lender also offers loan terms up to 120 months, but keep in mind most small loans are only available in 24–84 month terms.

Only available to borrowers with good or excellent credit
No option to pre-qualify without a hard credit check

Lightstream is our pick for low fees, since the lender doesn’t charge fees of any kind, and flexible repayment terms, since they offer a range of term choices.

SunTrust and BB&T, both banks founded in the 19th century, merged in December of 2019 under the name Truist. Lightstream is a division of Truist and offers personal loans for a variety of purposes. There’s no option to pre-qualify and you need good credit to be eligible, but starting rates are low and there are no fees. You won’t have to pay an origination fee , you can pay off your loan early without penalty, and even if you miss a payment, you won’t be charged. Lightstream also offers a 0.5% autopay discount included in their published rates.

You must complete your application with Lightstream online, but you can get your funds as soon as the same day. To be eligible, you’ll need to be 18 years old. To evaluate you for approval, Lightstream will pull your credit report from TransUnion or Equifax, which can result in a minimal dip in your credit score. Lightstream looks favorably on applicants with several years of credit history, a variety of account types, liquid assets or savings, and regular and sufficient income. Lightstream doesn’t allow joint applications or co-signers.

OppLoans’ installment loan product is the best option available for applicants with poor credit or no credit history. You can borrow a small amount starting at $500, and your positive repayment history will be reported to the three major credit bureaus.

Receive funds as soon as the next business day

If you aren’t eligible for other options due to your credit score , OppLoans is the safest bad credit lender we reviewed. While rates are high, your monthly payments will be reported to the credit bureaus, which may improve your credit score (if they’re on time).

OppLoans was founded in 2012 by Todd Schwartz and is headquartered in Chicago. The lender has helped 700,000 borrowers get access to cash. It operates as a direct lender in Alabama, Georgia, Nevada, and Wisconsin, and offers loans through partner lenders in 32 other states. OppLoans does not offer loans in Colorado, Illinois, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, South Dakota, Vermont, West Virginia, or Washington, D.C.

While OppLoans works with a credit bureau to evaluate your credit history, you can apply for a loan without a hard credit check. OppLoans doesn’t charge any origination fees or prepayment penalties. Other fees, rates, and terms vary by state. OppLoans doesn’t offer any discounts. You must apply online, but the process is easy and mobile-friendly. To be eligible, you must be 18 years old, have a bank account, have a regular source of income, and receive your paychecks through direct deposit. OppLoans does not allow co-signers. Once you’re approved, you can receive the funds in as little as one business day.

With a minimum loan amount of just $250, competitive rates, and fast funding as soon as the same day, Navy Federal is our top pick for the best credit union. But keep in mind that membership is only open to military members, veterans, and their eligible family members.

Navy Federal membership requires military affiliation
High minimum borrowing amounts for longer-term loans

Navy Federal offers small loans with competitive rates and quick funding. The member-owned, not-for-profit credit union was founded at the end of the Great Depression by a group of Navy Department employees and has since grown to over 11 million members. Membership is open to all service members and veterans, their immediate family members, and Department of Defense civilians. You must be a member to get a personal loan from Navy Federal.

There’s no pre-qualification option, but you can apply online for an unsecured personal loan. For longer-term home improvement loans , debt consolidation loans, savings secured loans, and CD secured loans, you must apply in a branch or over the phone. Co-signers and joint applications are allowed.

There’s no minimum credit score requirement disclosed on the website, and the hard credit check may result in a small dip in your credit score . Navy Federal issues loans in all states. There are no discount programs for its personal loans, but rates are relatively low and there are no origination fees, late fees, or prepayment penalties.

Navy Federal also has a strong track record of providing good customer service—the credit union offers 24/7 customer support and was named #1 for customer experience by Forrester. 1

Rocket Loans offers small loans starting at $2,000 with funding as soon as the same day. The fast and easy process makes Rocket Loans our top pick fo
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