Get $1,000 in your account today, even if you have bad credit.
If you need $1,000 right now, you could apply for an unsecured short term loan and have up to 12 months to pay it off. There are plenty of lenders who might approve your application within a couple of hours no matter your credit history.
Read our guide below to find out more about your loan options.
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How can I get a $1,000 loan?
- Make sure you’re eligible. The most important aspect of getting a loan is making sure you are eligible to receive it. While many short term lenders don’t require perfect credit, they do want you to have a steady income and a regular bank account, among other things.
- Find a lender from the table below. You can compare your short term loan options by looking at the available amounts , the loan costs and how quickly you will receive your payment.
- Go to the lender’s site. Once you’ve decided which loan to apply for, you can review the final fees and loan terms on the site and submit your application. You will need your personal, employment and banking details on hand to verify your income, debts and any assets you own.
- Findout if you’ve been approved. Lenders will contact you within a few minutes to tell you if you’ve been approved, and you will receive your loan contract soon after. Online lenders can send your money as soon as the next business day.
Check the websites of any providers you’re interested in to confirm they operate in your state of residence.
How much will the loan cost?
The actual amount you pay will depend on the type of loan you apply for and your loan term. Lenders have different financing fees and limits on terms depending on state law. A payday loan will be more costly in the short term, but an installment loan will wrack up more in interest as you pay month by month. Be sure to consider the total cost when weighing your options.
Are you eligible for a $1,000 loan?
You can generally get a loan if you meet the following criteria:
- Age. You must be at least 18 years old (varies by state).
- Employment. Some lenders require you to be employed, but you may find a lender that will consider you if you are unemployed. Casual and part-time workers can also be eligible for loans.
- Income. You need to be earning some sort of income to be eligible for a loan. Some lenders may have a minimum of how much you need to earn, but others just need to see history of your pay over the previous three months.
- Welfare. If you receive welfare payments, you can still get a loan. Keep in mind there may be restrictions you need to meet, such as your loan repayments not exceeding more than 50% of your welfare income.
- Credit history. You can still get a loan with bad credit, even if you’ve filed for bankruptcy.
Frank and Claire need a loanClaire was on the way to her office when her car broke down. She was told the repairs would cost $950 in order to get it back on the road. Claire and her husband Frank shared the car so it was important they had it fixed. Unfortunately, their credit wasn’t great due to a few missed mortgage payments. They both weren’t going to be paid until the end of the month.
Claire jumped online to see what her financing options were. She found a lender offering a $1,000 cash loan who considered bad credit applicants, and she applied online. After being approved, she received her loan amount the following morning.
Can I get a $1,000 loan with no credit checks?
No credit check loans are available, but you should consider if applying for a loan with no credit check is necessary. Most short term lenders will consider you for a loan even if you have a few bad credit listings on your file. Check the eligibility criteria listed for both bad credit and no credit check lenders and see which one best meets your needs.
What you need to know when comparing $1,000 loans
How you compare your options largely depends on whether you’re applying for a payday loan or a standard $1,000 loan. Below, we’ve broken down what you need to know.
- What is the interest rate? Interest rates for payday and personal loans can vary significantly from one lender to another and usually depends on whether the loan is secured or unsecured. It’s always best to compare to know the rate is competitive.
- What is the term of the loan? For payday loans, terms can extend up to one year. Other personal loans have terms that can last several years.
- What are the fees and charges? Lenders may charge financing fees or monthly fees in addition to the interest rate. Both payday loan lenders and personal loan lenders can charge you late/missed payment fees and fees if you go into default. If you think you’ll have any problems repaying your loan, you may want to reconsider applying.
- Is there repayment flexibility? Lenders that offer small loans up to $1,000 normally require you to set up direct debits either from your salary or through a bank account in order to make repayments.You can generally repay the loan early without penalty, but fixed rate loans, on the other hand, may come with an early repayment penalty.
- What is the reputation of the lender? Given that the Internet has given rise to a number of online lenders, finding out a little about the lender in question can be a good place to start before you apply. Make sure you go through the terms and conditions of any loan offering very carefully.
Are payday loans available in my state?
How to increase your chances of being of approved
While there is no definite way to make sure a lender approves your application, it could help your application to keep the following in mind:
- Establish eligibility criteria. On each finder.com loan review page, you’ll find a list of eligibility criteria you need to meet in order to be approved for the loan. Take some time to go through these before applying. If you have doubts about any part, you can always call the lender.
- Go through your credit report. It’s a good idea to get a free copy of your credit report online before you apply. Understanding of your credit history will put you in a better position to know what loans you can and can’t apply for.
- Limit your applications. Every time you apply for a loan, it counts as an inquiry on your credit report. Submitting too many applications can negatively affect your credit score. If you want to compare your options without going through the hassle of applying to multiple lenders, try a lender-matching service instead.
The pros and cons of $1,000 loans
- They offer a quick turnaround time.
These loans can be processed within a couple of hours and in your account in as little as an hour or one business day.
- The documentation required is minimal.
You don’t have to upload various documents to support your application. For instance, you can usually supply your online banking details rather than upload three months of your bank statements.
- The have higher interest fees.
As a high-risk loan on the part of the lender, $1,000 loans tend to come with very high fees.
- Not all lenders are reputable.
There are lenders who may try to take advantage of people who need cash quickly. Always do your research on the lender before submitting a loan application.
How to apply for a $1,000 cash loan
If you’ve found a cash loan that you’d like to apply through from the above comparison tables, please click “Go to site” to be taken to the application page. Most forms take about ten minutes to complete and you’ll usually find out if you’ve been approved in a few minutes. When it comes to receiving your loan, it depends on the lender and when you’ve applied.
Some lenders can have the $1,000 in your account within an hour of you accepting the contract, while other lenders may have it to you the next business day.
What kind of information will you need to provide?
This differs between lenders, but generally the following will be required:
- Your online banking details or the last 90 days of your transaction history
- Personal details including your name, driver’s license number and contact information
- Where you work, how long you’ve been there and the details of your employer
- Your financial position including your income, your paycheck schedule, any current debts, assets and liabilities
Remember that you should always compare all your loan options before applying. There are many financing options available to you, so it’s important to consider them all before applying to make sure you get the best option for you.
What to avoid
When you look for a $1,000 loan, bear in mind that it can come with associated risks:
- Avoid taking on more debt than you can handle and exercise caution throughout the loan process.
- A short repayment period and high fees translate into high repayments.
- You can avoid high interest rates by comparing multiple lenders. Remember to consider all costs, including financing fees if applicable.
What type of loan are you looking for?