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

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These lenders all offer $3,000 loans. Each has a different maximum amount if you end up needing more funds — ranging from $5,000 to $100,000. Check the requirements before you apply, if you don’t meet the minimums set by the lender your application will be rejected.

Am I eligible for a $3,000 loan?

You can generally get a loan if you:

• Have a regular source of income
• Have an active checking account
• Are over 18

You don’t necessarily need to be employed to get a $3,000 loan, though it helps. As long as you have a regular source of income, you can typically find a lender. Don’t have a bank account? Check out our no bank account loans guide.

What types of loans should I consider?

• Installment loans can be paid back over three to 12 months are available to all credit types and don’t require collateral.
• Auto title loans are available if you own your car outright. You might be able to get a slightly better deal if you have bad credit and put your car’s title up for collateral with an auto title loan.
• Secured personal loans use other items that you own to back a loan from a personal loan provider for more favorable rates and terms.
• Credit cards come with a cash advance feature that allows you to get the funds from an ATM. But these typically come with an extra fee and a higher APR than your normal credit card purchases.

How to find the right lender

Ask yourself these five questions to pick the best lender to apply with:

1. How quickly do I need the money? This can tell you whether to prioritize speed or cost.
2. What can I afford? Figure out how much you can afford to repay each month and use that to weed out lenders.
3. How is my credit? If you have a credit score below 600, your options are typically limited to installment or auto title loans.
4. Am I employed? Some lenders require you to have a job while others accept any regular income like government benefits.
5. How much does the loan cost? The easiest way to compare costs is to compare a loan’s APR, which includes both interest and fees.

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Can I afford a $3,000 loan?

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 — the annual cost expressed as a percentage — 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.

Lenders may also 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 calculator to see how much your monthly repayments would be at different loan rates and terms.

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Benefits and drawbacks to consider

How to find out if a lender is legit or a scam

How to get your loan application approved

While there is no definite way to make sure a lender approves your application, it could help your application to keep the following tips in mind. $3,000 of debt is nothing to take lightly. Be sure you also understand the risks and know what to watch out for before you apply.

Tips for a good application

• Establish eligibility criteria. Make sure you have a chance of approval before you start your application.
• Go through your credit report. 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. Submitting too many applications can negatively affect your credit score. Instead consider prequalifying with multiple lenders.

What to watch out for

• Avoid taking out a loan you’re know you won’t be able to repay on time — this can start a cycle of debt.
• Avoid simply picking the first lender you come across. You could save money on interest and fees by comparing multiple lenders. Remember to consider all costs, including penalty fees for late payments.

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Looking for a different type of loan?

Fixed Term		Fixed Amount
7 days		$1,000
30 days		$1,500
2 months		$2,000
3 months		$3,000
5 months		$4,000
6 months		$5,000
12 months		$10,000
24 months		Compare more

Are payday loans available in your state?

Compare payday loans in your state

Frequently asked questions about $3,000 loans

• How do I begin the application process?

  The first step is to compare your options. After you find a loan, click on the “Go to Site” button. Once on the lender’s website, you can begin the application process.

• What happens after I apply?

  Some lenders inform you of their decision in minutes, while other can take up to two business days. Expect to hear from the lender about their decision whether or not they approve your loan application.

• Is there anything I should know before taking out a cash advance?

  There are a few things you should know about cash advances in order to make the right decision for you and your family.

  First, you should generally only take out a cash advance in emergency situations because this type of loan is typically a short-term, one-time solution. If you have structural financial problems that cause you to have difficulty repaying debts, you should consider credit counseling.

  Second, you’ll want to make sure you can repay your cash advance in a timely manner. Missing the due date on your repayment will result in additional charges. Avoid digging yourself into a deeper financial hole by taking on debt you can’t afford.

  Third, before accepting a cash advance, be sure to read the lender’s terms and conditions carefully. It’s important to read the fine print so you know exactly what you are paying and when it is due.

• Can I repay my loan early?

  This depends on the individual lender. When reviewing your loan contract, be sure to voice this question as some payday loan lenders charge extra fees for early repayment.

• How long will it take for me to receive approved funds?

  Funds are usually deposited into your bank account on the next business day. It ultimately depends on the lender and your bank.

• Is having a checking account necessary?

  Most lenders require applicants to have operational checking or savings accounts where they can transfer funds electronically.

• Will a late payment on a loan affect my credit?

  While not all lenders report to the big three credit agencies that handle credit, some might choose to report late or missing payments. This is at the discretion of the lender.

• What happens if I know my payment will be late?

  The best solution is to contact your loan provider and inform them. Usually, the lender will be willing to extend the payment deadline and find ways to help you through difficult financial times.