How to get a $1,500 loan fast, even with bad credit

$1,500 loans you can apply for today

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Find yourself needing to bridge a $1,500 gap? There are a few ways to get the money you need.

There are times when you may need to come up with money quickly, whether it’s to cover car repairs or a medical bill you weren’t expecting. If $1,500 is beyond your savings and you need money to cover urgent expenses, there are lenders you can consider.

Read our guide below to find out more about your loan options.

OppLoans Installment Loans

A direct lender that offers fast funding with lower interest than a typical payday loan.

  • Loan Amounts: $500–$4,000
  • Loan Term: 9 to 36 months
  • Turnaround Time: 1 business day
  • Must have direct deposit and meet minimum income requirements

Must live in one of the following states: AL, AK, AZ, CA, DE, FL, GA, ID, IL, IN, KS, KY, MI, MO, MS, NV, NM, OH, OK, SC, TN, TX, UT, VA and WI

BadCreditLoans.com

A connection service that’s been helping people with bad credit get affordable loans since 1998.

  • Loan Amounts: $500–$5,000
  • Loan Term: 3 to 36 months
  • Turnaround Time: Varies
  • Must have regular income and a checking account in your name

Am I eligible for a $1,500 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.

What options do I have for a $1,500 loan?

The table below lists a range of short term lenders who offer $1,500 loans.

Rates last updated April 26th, 2018
Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
OppLoans Installment Loans
Installment loans with competitive rates from a top-rated direct lender.
$4,000
9 to 36 months
1 business day
Open to residents of AL, AK, AZ, CA, DE, FL, GA, ID, IL, IN, KS, KY, MI, MN, MO, MS, NE, NV, NM, OH, OK, OR, SC, TN, TX, UT, VA, WI and WY. Must have direct deposit and meet minimum income requirements.
CashUSA Installment Loans
$10,000
90 days to 72 months
As early as 1 business day
Monthly income of $1,000+ after taxes and valid checking account.
Slam Dunk Loans
Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.
$2,500
Varies by lender
As soon as next business day
Must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.
BadCreditLoans.com
With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
$5,000
3 to 36 months
Varies
Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
Blue Trust Loans Installment Loans
Get an installment loan from an online tribal lender. Perks for returning borrowers.
$2,000
6 months
As soon as next business day
Must be at least 18 years old and have a verifiable source of income with direct deposit into your checking account.
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
Varies by state
Varies by state
1 business day
You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
HonestLoans Installment Loans
Get a flexible installment loan with fast funding through one easy online application form.
$2,500
Varies by lender
As soon as one business day
Must be employed and receive regular income, earn at least $800 a month, have a checking account and be an 18+ years old legal US citizen.
MaxLend Installment Loans
Get up to $1,000 as a first-timer, with loans of up to $2,000 and lower APRs for repeat borrowers.
$2,000
6 months
As soon as the next business day
Must be at least 18 years old and a US citizen, have a valid bank account and provide a verifiable source of income.

Compare up to 4 providers

How do I decide what to apply for?

There are a number of lenders offering $1,500 loans. Asking yourself the following can help you determine what to apply for.

  • What do you need the loan for? The purpose of the loan may help you narrow down your search. If you’re looking to borrow money for a car, whether new or used, you can look for a secured loan. If you need the money to cover an emergency, like a bill that is due the next day, find a lender who can get money to you as soon as possible.
  • Do you have bad credit? Good and bad credit borrowers will have different options available to them. If you have good credit, you can consider a traditional bank or credit union for a low limit credit card, overdraft or small personal loan. If you have bad credit, you’re likely to be limited to bad credit loans.
  • What repayments can you afford? The interest rate and fees you’re paying will affect your repayments, as will the terms you select for your loan. For instance, a loan with shorter terms will save you from paying extra interest, but your repayments will be much higher. Payday loans are for shorter terms, usually not longer than four months. After you work out your budget, you can use a personal loan calculator to see what your repayments will be.
  • Are you employed? Lenders have eligibility criteria in regards to how you need to be employed and how much you have to earn. Keep in mind there are still loan options available if you’re receiving welfare payments as income. If you’re between jobs, you still may be eligible for a loan as well. Check the eligibility criteria of each lender before you apply.

How much does a $1,500 loan cost?

The actual amount you pay will depend on your loan term. For example, you will pay less for a $1,500 loan over three months than you will over four months because there will be an extra month of interest. Lenders have different financing fees and limits on terms depending on state law. Be sure to consider the total cost when weighing your options.

What to know when comparing your options

How you compare your options largely depends on whether you’re applying for a payday loan or a standard $1,500 personal 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 $1,500 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.

How do you know if a lender is legit?

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:

  • 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.

Factoring in your repayments. It’s important that you have a fair idea of what your repayments will look like before you apply for your $1,500 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 repayments. You can use a loan calculator to find out how much you might have to repay weekly, biweekly, or monthly.

Benefits and drawbacks of $1,500 short-term loans

Pros

  • The opportunity of flexible repayments. Flexible repayment options let you line up your repayments in accordance to when you get paid. By making extra repayments, you can repay the loan ahead of time.
  • Online presence simplifies the process. If a lender is online, the entire process can be streamlined. You will usually be given multiple options during the application process to submit documents, information and track your application’s progress.
  • Bad credit is OK. People who have bad credit can find it difficult to be approved for loans, but there are a multitude of $1,500 loan options available for those with bad credit.

Cons

  • Higher fees. Payday loans attract higher fees due to the risk the lenders are taking on. It’s important to consider whether you can afford the loan before you apply.
  • Short loan terms and repayment schedules. Most cash advance and payday loans require that you repay the entire amount in a few weeks or months, resulting in high repayments.
  • Predatory lenders. Some lenders can be disreputable and set unfair terms, so it’s important to do your research and apply for a loan with a reputable lender.

Things to avoid

When you look for a $1,500 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.

Looking a different loan amount or term?

Fixed Term

Fixed Amount

7 days
30 days
2 months
3 months
6 months
9 months
12 months
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Are payday loans available in my state?

Frequently asked questions about $1,500 loans

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2 Responses

  1. 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?

    • Staff
      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 featured on this page to discuss your loan options and eligibility. Be sure to read the criteria before applying for a loan.

      Cheers,
      May

US Payday Loans Offers

Important Information*
Slam Dunk Loans

Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

LendUp Payday Loans

LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

Check into Cash Payday Loan

With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

OppLoans Installment Loans

Installment loans with competitive rates from a top-rated direct lender.

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