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Get approved for a $3,000 loan, even with bad credit

Your $3,000 cash loan could be just a few clicks away

There is no telling when you might need money in a hurry, and luckily, getting a small loan can be easy. There are lenders who offer $3,000 loans to help pay for car repairs, late bills or medical expenses. What’s important is that you have some source of income and the ability to manage your repayments.

Our guide below will help you determine if a $3,000 loan is the right option for you.

OppLoans Installment Loans

OppLoans Installment Loans

Get fast funding up to $4,000 at reasonable interest rates.

  • Min. Loan Amount: $1,000
  • Loan Term: 9 to 36 months
  • Turnaround Time: 1 business day
  • Must be 18+ years old
  • No security deposit needed
  • Confidential and secure

    Are you eligible for a $3,000 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 who 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.

    Lenders offering $3,000 loans

    Rates last updated February 21st, 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
    With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
    3 to 36 months
    Varies based on lender
    Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
    Same rates
    Go to site More
    OppLoans Installment Loans
    Installment loans with competitive rates from a top-rated direct lender.
    9 to 36 months
    1 business day
    Open only to residents of AL, CA, DE, GA, KS, ID, IL, MO, MS, NV, NM, OH, SC, TN, TX, UT, VA and WI. Must have direct deposit and meet minimum income requirements.
    Same rates
    Go to site More
    NetCredit Personal Loan
    Check eligibility in minutes and get a personalized quote without affecting your credit score.
    6 months to 5 years (varies by state)
    1-3 business days
    Varies depending on your state of residence.
    Same rates
    Go to site More
    Trusted Loans — Personal Loan
    Borrow up to $10,000 with personalized interest rates based on your credit score.
    2-60 months
    Next Business Day
    18+, have an open bank account, be employed or have regular income
    Same rates

    Compare up to 4 providers

    What loan options do you have to borrow $3,000?

    Here are some ways to get a loan you may not have considered.

    • Bad credit payday loans. If you have bad credit, you can still apply for a $3,000 loan. Lenders who offer bad credit loans may still look at your credit history, but they focus more on your current financial situation and your ability to repay. Keep in mind that these loans tend to come with high interest rates and fees.
    • Secured personal loans. A secured personal loan requires you to provide some form of collateral (which could come in the form of equity in your home, a term deposit, or a vehicle) and offers a competitive interest rate. Repayment terms can be several years, and the interest rate can be variable or fixed.
    • Unsecured personal loans. If you can’t or don’t want to provide collateral, consider applying for a variable or fixed rate unsecured personal loan. This type of loan usually has slightly higher rates, but they require less paperwork and have fewer restrictions in the way you can use your loan money.
    • Bad credit installment loans. If you don’t think you’ll be able to repay a loan in one lump sum, consider an installment loan. These are paid over the course of months, and while they have higher fees that other types of loans, you will still be able to apply even if you have bad credit.
    • Auto title loans. If you don’t make payments for your car, you may qualify for an auto title loan. These are secured loans because they require your car as collateral, but they will allow you to borrow money based on how much your car is worth.

    What you need to know about the differences between secured and unsecured loans

    How do I decide what to apply for?

    There are a number of lenders offering $3,000 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 have limited options.
    • 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 $3,000 loan cost?

    The actual amount you pay will depend on your loan term. For example, you will pay less for a $3,000 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.

    Pros and cons of $3,000 loans


    • Repayment flexibility. A number of lenders allow you to make repayments according to how frequently you get paid. If you can repay your loan ahead of time without being subject to an early payout penalty, you can save on fees and interest.
    • Account access. Most lenders allow you to access your account online, while others also offer phone account access.
    • Apply with bad credit. Having bad credit doesn’t mean you can’t get a loan. Most payday lenders will consider you for a loan with less-than-perfect credit.


    • Higher interest rates and fees than standard loans. Interest rates for bad credit loans are noticeably higher than most other loan types, so you may want to explore other options first. Payday loans and installment loans also tend to come with higher interest rates compared to more traditional secured and unsecured personal loans.
    • Higher repayments. Since payday loans and installment loans are paid rather quickly, the payments will be high when compared to other types of personal loans that can stretch over years.
    • Disreputable lenders. If any offer seems too good to be true, it probably is. Ensure the lender you’re applying with has a solid reputation by reading independent reviews and checking with your local government.

    What you need to know when comparing $3,000 loans

    How you compare your options largely depends on whether you’re applying for a payday loan or a standard $3,000 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 loans up to $3,000 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.

    How do you know if a lender is legit?

    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 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 $3,000 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.

    What to avoid

    When you look for a $3,000 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?

    Fixed Term

    Fixed Amount

    7 days
    30 days
    2 months
    3 months
    6 months
    9 months
    12 months
    24 months

    Are payday loans available in my state?

    Frequently asked questions about $3,000 loans

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    2 Responses

    1. Default Gravatar
      LindaDecember 10, 2017

      Do I have to put bank information before getting approve rather do this once I am apptove??

      • Staff
        JoanneDecember 12, 2017Staff

        Hi Linda,

        Thanks for reaching out.

        There are lenders that require bank account information as bank statements can confirm your financial situation. Most lenders require applicants to have operational checking or savings accounts because this is where they can transfer funds electronically and payments are usually directly debited from there.

        To get additional information you may want to click on “go to site” or “more” for you to check on the eligibility requirements per lender.


    US Payday Loans Offers

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    LendUp Payday Loans

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    Check into Cash Payday Loan

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    OppLoans Installment Loans

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

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