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Get a $1,500 loan

Compare 15 personal and installment loan providers to find funding for any credit score.

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Editor's choice: OppLoans Installment Loans

  • Easy online application
  • Quick approval
  • Long repayment terms
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It can be difficult to find lenders that offer such small loan amounts. But we compiled a list of 15 lenders offering loans of $1,500 for borrowers with bad, fair or good credit.

Finder compared over 200 payday, installment and personal loan lenders to help you select the best option for your finances. You might be able to get a loan as soon as the next business day, but watch out: It can be expensive.

Compare $1,500 loans for bad credit or no credit

If your credit score is under 580, you may still qualify for a loan from providers like Monevo and OppLoans. But be prepared for high interest rates — especially if you borrow an installment or payday loan. The APR could potentially be 300% or higher.

ProviderRequirementsLoan typeFinder rating
Net CreditVaries depending on your state of residence.
Depending on your state of residence, your personal loan might not be offered by NetCredit but through its partner lender, Republic Bank & Trust Company, Member FDIC.
Personal loan★★★★★
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MonevoCredit score of 450+, legal US resident and ages 18+.Personal loan★★★★★
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BoroCollege student or recent graduate, live in an eligible state, 18+ years oldInstallment loan
Not yet rated
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OneMain FinancialEstablished credit history, US citizen or permanent resident, age of majority in your statePersonal loan★★★★★ Read more
StiltBe employed, have a US bank account, live in a state where Stilt operates, hold one of the following visas: F-1 and OPT, H-1B, H4, O-1, L-1, TN, J-1, DACA or be a US citizen.Personal loan★★★★★
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LoansUnder36Steady source of income, verifiable bank account, US citizen or permanent resident and at least 18 years oldPersonal loan★★★★★
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OpploansDirect deposit, meet minimum income requirements, live in eligible stateInstallment loan★★★★★
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Fast5KloansRegular source of income, verifiable bank account, US citizen, ages 18+Payday loan
Not yet rated
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MoneyLionMust be a MoneyLion Plus member, have a job that pays with direct deposit, a checking account with a positive balance, a verifiable identity, proof of ability to repay and live in an eligible state.Personal loan★★★★★ Read more

Compare $1,500 loans for good and fair credit

If your credit score is over 580, you can take advantage of lower rates with these personal loans. You can also compare loans from your local bank or credit union, although some may not offer loans of $1,500.

ProviderMin. credit scoreAPRFinder rating
Upstart6005.55% to 35.99%★★★★★
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Upgrade6005.94% to 35.97%★★★★★
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LendingClub6407.04% to 35.89%★★★★★
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Credible5802.49% to 35.99%★★★★★
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Fiona6704.99% to 35.99%★★★★★
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PNC BankNot statedStarting from 6.39%★★★★★ Read more
Laurel Road6807.00% to 24.75%★★★★★ Read more

How much will it cost?

The total cost of your loan will depend on the type of lender you go with, your finances and your credit score. Your monthly payments are based on two factors: Your APR and your loan term.

Personal loans frequently cap your APR at 36% or less, while payday loans and installment loans have much higher fees and often a much shorter repayment term, which results in a high APR.

Many lenders also often charge an origination fee, which is a percentage of your loan amount typically deducted from your loan before you receive your funds. This is also based off your credit score — if you have bad credit, expect to pay a higher origination fee in addition to higher rates and fees.

Use our monthly payment calculator to estimate how much you’ll pay with different rates and terms.

$1,500 loan calculator

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Budgeting for monthly payments

It’s important that you have an idea of what your monthly payments will look like before you apply for a personal loan. Once you know how much you have to repay, take into account your existing salary and expenses and then determine if you can afford to make the monthly payments.

Some lenders allow you to make early repayments at no cost. Take advantage of this, especially if you borrow an installment loan with a high interest rate. By paying off your loan early, you could save hundreds of dollars in interest.

If you can’t make payment, contact your lender. In most cases, it may be willing to help you to find a solution without impacting your credit score.

Am I eligible for a $1,500 loan?

While depends on the lender, but you generally qualify for a $1,500 loan if you meet the following criteria:

  • Steady source of income
  • Checking or savings account
  • Established credit history
  • At least 18 years old

For most personal loans, lenders run a credit check to confirm you qualify. Payday loans and installment loans rarely require a credit check — largely because they cater to borrowers with bad credit.

How do I get a $1,500 loan?

There are options for $1,500 loans, but very few personal lenders that offer loan amounts under $2,000.

  • Shop for online lenders. Online lenders have quick turnaround — some can get your loan funds to you within one business day. But be aware that they typically have higher rates and fees than banks and credit unions, and you may pay an origination fee when you borrow.
  • Look into your local bank or credit union. Banks and credit unions offer personal loans, although you’ll likely struggle to find a personal loan for as low as $1,500. You also may need to have an account or be a member to qualify.
  • Consider short-term loans. Payday loans and installment loans should only be used as a last resort for emergencies. But if you have bad credit and don’t qualify for a personal loan, it could be an option to get a low loan amount of $1,500.

Where can I get a small loan with no credit?

There are lenders that don’t require a credit check, but be careful: Like loans for bad credit, you’ll face higher rates and fees when you borrow with no credit. If you can, consider alternatives to payday loans for more options before you borrow.

How to find a legit lender

Ask yourself the following questions to make sure you’re working with a lender that’s legit.

  • What’s the APR? APR includes both the base interest rate and fees and is the best way to compare the total cost of the loan. If a lender doesn’t display rates before apply, you might want to look elsewhere.
  • What’s the term? The longer the term, the lower your monthly payments but the more it’ll cost in the long run.
  • Am I eligible? Some lenders might require you to have a job, have restrictions on borrowers who’ve filed for bankruptcy or the lender may only work in a few states. Those with no requirements might not offer a good deal.
  • How much can I actually borrow? Stay away from lenders that pressure you to borrow more than the $1,500 you need.
  • How’s its reputation? Check customer reviews to learn about past customer’s experiences and sites like the Consumer Financial Protection Bureau to make sure it isn’t facing any lawsuits.

Watch out for guaranteed approval

No legitimate lender will guarantee that your approval before looking at a full application. Most will at least check your income to make sure you can afford repayments before making an offer. Taking out a loan that you can’t afford sets you up to miss repayments and get caught in a cycle of debt.

How do I increase my chances of approval?

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:

  • Make sure you qualify. You won’t get approved if you don’t meet the eligibility requirements.
  • Check your credit report. If you have the time, request a copy of your credit report to check for mistakes — these could be hurting your credit score.
  • Limit your applications. Every time you apply for a loan, it counts as an inquiry on your credit report, which lowers your score.

Pros

  • Quick turnaround for online loans
  • Multiple personal loan options
  • Bad credit OK

Cons

  • Higher rates for borrowers with bad credit
  • May pay an origination fee
  • Not all lenders offer this low loan amount

Compare more lenders that offer $1,500 loans

Select your state to see your loan options.

Name Product Filter Values Loan amount Turnaround time Requirements
OppLoans Installment Loans
$500 to $5,000
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
LendYou Short-term Loans
$100 to $2,500
Same business day to 1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Monevo Installment Loans
$500 to $100,000
Varies by lender
Credit score of 500+, legal US resident, ages 18+
Quickly compare multiple online lenders with competitive rates depending on your credit.
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Compare up to 4 providers

Looking a different loan amount or term?

Fixed Term

Fixed Amount

7 daysPicture not describedcheckmark$1,000
30 daysPicture not describedcheckmark$1,500
2 monthsPicture not describedcheckmark$2,000
3 monthsPicture not describedcheckmark$3,000
5 monthsPicture not describedcheckmark$4,000
6 monthsPicture not describedcheckmark$5,000
12 monthsPicture not describedcheckmark$10,000
24 monthsPicture not describedcheckmarkCompare more

Frequently asked questions

Our answers to common questions about $1,500 loans.

Can I qualify for a $1,500 loan if I’m unemployed?

There are lenders that offer loans for unemployed borrowers. Keep in mind that lenders want to see evidence of your ability to repay a loan. As long as you have a steady source of income, including unemployment benefits, you may still qualify for a loan.

Is having a checking account necessary?

Not necessarily. But while some lenders offer loans for borrowers with no bank account, most require you to have operational checking or savings account.

Will a late payment affect my credit?

This is at the discretion of the lender, but in most cases, yes — a late repayment will have a negative impact on your credit.

Can I use my personal loan for debt consolidation?

It depends. While many lenders offer personal loans for debt consolidation, you may not qualify if you don’t have at least $5,000 in debt. However, you can usually use your loan funds for any purpose — which means you could potentially consolidate your debt.

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4 Responses

    Default Gravatar
    BobbyNovember 7, 2018

    If I have no credit history or credit card who could I get a loan with?

      Default Gravatar
      joelmarceloNovember 7, 2018

      Hi Bobby,

      Thanks for leaving a question on finder.

      Yes, but it could take work to find a lender willing to work with you. You might also need to adjust your expectations if you’re looking for, say, a large bank loan of $100,000.

      With so many lending upstarts competing for your business, an online lender might be a good place to start, especially for smaller loans. Many of these lenders use new technologies and alternative sources of data to determine your creditworthiness. They believe a broader look at your income and financial habits can better predict your creditworthiness than merely relying on your credit score.

      However, more traditional lenders — like banks and credit unions — are typically not willing to take on the risk of a borrower without a credit history. That’s because your credit report reveals to your lender how you’ve handled debt in the past. With no credit history, you’re considered a wild card. These lenders also consider your income, employment status, and debt-to-income ratio when reviewing your application.

      Despite lacking a comprehensive credit history, you’ll find several options for getting your hands on a loan through our guide called “How to get a personal loan with no credit score“.

      Please send me a message if you need anything else. :)

      Cheers,
      Joel

    Default Gravatar
    JulieJuly 5, 2017

    I get paid next month per capita payment I received this for the last 25 years and the rest of my life I need a direct lender who can loan me 1000.00 + but I don’t have a checking or savings account I have to move out by 14th can you please help?

      Avatarfinder Customer Care
      MayJuly 6, 2017Staff

      Hi Julie,

      Thanks for reaching out.

      If you do not have a bank account, you may like to speak to a lender offering a payday loan on a prepaid debit card to discuss your loan options and eligibility. Be sure to read the criteria before applying for a loan.

      Cheers,
      May

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