Editor's choice: Credible personal loans
- Loan range: $1,000-$100,000
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There are lenders that offer $10,000 personal loans — even if you have bad credit. Learn more about your options and calculate how much a loan might cost you.
To see a list of lenders you may qualify for, select your credit score range and the state where you live in the table below.
There are a variety of lenders that offer $10,000 loans — so it pays to compare options. Borrowers with bad credit can access these loans through nontraditional lenders, while those with good or excellent credit may be able to apply with their own bank for quick approval.
The cost of your loan will depend on the loan term and the APR — which is your interest rate and loan fees. Here is an example of how much a $10,000 personal loan might cost with a 9.41% APR.
|Loan term||Monthly repayment||Total interest|
Rather than picking a random APR for our example, we used data from a 2019 Experian study that found the average personal loan APR was 9.41%. While this number will depend on the amount you borrow, your credit score and your current finances, this national average highlights what rate you might receive when you apply.
You can use our calculator to estimate your monthly repayment based off your expected loan term and interest rate.
See how much you'll pay
|Loan terms (in years)|
Bad credit or good credit, there are options available to you if you need to borrow a large amount of money.
Loans up to $10,000 are available from both traditional and nontraditional lenders and can come in a variety of forms: Secured or unsecured, short-term or long-term, for personal or business use. The first step to taking out a loan is understanding your options.
There are lenders that offer loans up to $10,000 for people with bad credit. You'll usually need to meet certain requirements, and you may be required to secure the loan with an asset. Some lenders may also allow you to submit a joint application if you don't meet the eligibility criteria on your own.
Remember to find out about all the options available to help your chances of being approved. The interest rate on these loans is usually set on an individual basis but may be higher than similar loans for borrowers with good credit.
You'll probably have more options available to you if you're looking at borrowing $10,000 and you have a good credit score of 670 or higher. Traditional lenders, such as a bank, will likely be an option. And you'll enjoy lower rates and fees than if it were a bad credit loan.
You may also find that your current bank offers same-day funding to existing customers. Depending on your income and other financial circumstances, you may be eligible for a secured or unsecured loan.
Securing your loan with an asset may open up more loan options to you. Secured loans are less risky for lenders as they will be guaranteed to recoup their losses should you default. Because of this, these loans come with lending criteria that are more flexible than unsecured loans, and sometimes they even carry better APRs.
Typical assets used to secure a loan include a vehicle or equity in a property, but some lenders also allow for other things, such as jewelry.
A $10,000 personal loan taken out for business purposes is different from one taken out for personal use. Business loans usually come with higher maximum loan amounts, with some lenders able to approve loans of up to $5 million. Business loans may be available to both established businesses and startups, although small businesses may not have access to larger loan amounts.
When considering what loan to apply for, it's important to compare features of each loan to make sure you'll receive a competitive offer. Here are some things to look at:
To compare your borrowing options, read our guide on personal loans. We discuss the different types of personal loans available, how much they usually cost and where you can apply.
Answers to common questions about $10,000 loans.
It depends. Most lenders want you to have a steady source of income, but that doesn't necessarily mean you need to be employed. If the lender doesn't specify, contact it and ask if your income qualifies.
It depends on your credit score. For good to excellent credit, the average rate can range from around 10% to 12%. For poor credit, the average rate can range from 28% to 32%, though it can be as high as 36%.
Most lenders use either 128-bit or 256-bit SSL encryption to ensure your details are safe and secure. If your lender doesn't have this in place and doesn't have a secured page, visit a different lender that does.
Usually, you'll receive notification of the decision. If you've been approved, the lender will send along next steps.
You can apply by finding a lender that doesn't require collateral but accepts a lower credit score. Many lenders have fully online applications. If you want to go with a bank or credit union, be prepared to submit your documents in-person.
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