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How to be approved for a $5,000 loan with bad credit

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Compare $5,000 loans, even with bad credit.

You have limited options when looking for a $5,000 loan with bad credit. Usually, short-term loans are your best bet. These are often quick but can have high APRs.

CashUSA Installment Loans

Our top pick: CashUSA

Need a quick cash loan as high as $10,000? This loan connection service could help.

  • Min. Loan Amount: $500
  • Max. Loan Amount: $10,000
  • Loan Term: 90 days to 72 months
  • Turnaround Time: As early as 1 business day
  • Requirements: Must have a monthly income of $1,000+ after taxes and valid checking account.

    Where can I get a $5,000 loan with bad credit?

    If you have bad credit, you’re generally limited to installment loan providers. These loans come with several repayments, usually over a three to 18 months.

    Often you can apply online and get your funds in as fast as the next business day. But like with many short-term loans, these can come with triple-digit interest APRs, depending where you apply.

    Compare $5,000 loans to apply for today

    Rates last updated October 20th, 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 Max. Loan Amount Turnaround Time Requirements
    CashUSA Installment Loans
    A connection service for quick cash loans up to $10,000.
    $10,000
    As early as 1 business day
    Must have a monthly income of $1,000+ after taxes and valid checking account.
    BadCreditLoans.com
    With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
    $5,000
    Varies
    Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
    NetCredit Personal Loan
    Check eligibility in minutes and get a personalized quote without affecting your credit score.
    $10,000
    1-3 business days
    Varies depending on your state of residence.
    OppLoans Installment Loans
    Installment loans with competitive rates from a top-rated direct lender.
    $5,000
    1 business day
    Must have direct deposit and meet minimum income requirements.
    LendingPoint Personal Loans
    Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
    $25,000
    Next business day after approval and document verification
    Must have a fair credit score of 600 or better and a minimum annual income of $20,000. Must live in a state where LendingPoint services.

    Compare up to 4 providers

    How do I apply for a $5,000 loan online?

    1. Compare lenders. Compare how much lenders offer, rates, terms and eligibility requirements to make sure you have a $5,000 loan you can afford.
    2. Fill out the application. Go to the lender’s website and complete the application. Want to use a lender from our table? Click the Go to Site button to get started.
    3. Review and submit. Double check your application for mistakes before submitting it.
    4. Upload required documents. Typically lenders ask to see proof of income, bank statements and a valid photo ID when you apply for a $5,000 loan.
    5. Sign and submit your agreement. Carefully read your loan’s terms and conditions before signing anything.
    6. Get your funds. Most lenders offering this amount can send it to your bank account as soon as one business day.

    Tips on getting approved for a loan with bad credit

    There’s no one surefire way to ensure you are approved for a loan application. When you’re considering applying for a loan and your credit history isn’t perfect, keep the following tips in mind:

    • Check the eligibility criteria before applying. Lenders have set eligibility criteria which you can check on finder.com review pages. Check to see if you meet these criteria, and if you’re unsure, you can call the lender to discuss your situation.
    • Order a copy of your credit report. While you may think you have a good idea of your credit history, your credit file is the only true record of your financial history and what lender’s will use to judge your creditworthiness. You can order a free copy of your credit file from the main credit reporting agencies in the US.
    • Compare your loan options before you apply. Every application you make shows up on your credit file, so make sure you compare your options before you apply to minimize the amount of applications you make.

    What to avoid with bad credit unsecured loans

    There are several risks associated with bad credit loans that don’t require collateral. Here’s what to avoid:

    • Not being cautious. Taking out a bad credit personal loan can come with high fees and inflexibile terms.
    • Not considering the affordability. Make sure you check twice before applying for a bad credit unsecured personal loan up to $5,000–the repayment period is much shorter than standard loans, meaning your repayments can be quite high. Lenders usually offer calculators to show an indication of your repayments.
    • Not considering the fees as well as the interest rate. Lenders may charge you an interest rate as well as fees and other charges. Check these before you apply and consider the total cost of the loan.

    Need a little less? Compare more installment loans from top online lenders

    Rates last updated October 20th, 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 Max. Loan Amount Turnaround Time Requirements
    OppLoans Installment Loans
    Installment loans with competitive rates from a top-rated direct lender.
    $5,000
    1 business day
    Must have direct deposit and meet minimum income requirements.
    CashUSA Installment Loans
    A connection service for quick cash loans up to $10,000.
    $10,000
    As early as 1 business day
    Must have a monthly income of $1,000+ after taxes and valid checking account.
    Jora Installment Loans
    Installment loans with repayment terms up to 30 months, depending on your state.
    $2,600
    1–2 days
    Must have an active checking account, regular source of income and email address.
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    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.
    LendYou Short-term Loans
    Apply online with this loan-connection company offering unrestricted short-term loans at high maximums — fast turnaround.
    $15,000
    1 business day
    You must be a US citizen or permanent resident, age 18+ and have a regular income.
    Blue Trust Loans Installment Loans
    Get an installment loan from an online tribal lender. Perks for returning borrowers.
    $2,000
    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.
    Slam Dunk Loans
    Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.
    $2,500
    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.

    Compare up to 4 providers

    Explore even more loan amounts and repayment terms

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    80 Responses

    1. Default Gravatar
      yuckytooSeptember 5, 2018

      Yes , I had to file chapter 13 since my lender of my home would not let me sell my home. I had 10 contracts on my house to sell but Citi refused to accept any of the offers after 2 years, I talked to my attorney explained the situation and he advised me to file chapter 13 because the only bill I had was my mortgage. I make 60,000 a year have no credit cards but know bad credit .. can i get a personal loan to rebuild my credit

      • finder Customer Care
        JoshuaSeptember 6, 2018Staff

        Hi Yuckytoo,

        Thanks for getting in touch with finder. I hope all is well with you. :)

        If you are able to make timely repayments, then a personal loan may help. However, please consider that getting another loan maybe risky as there’s always a chance that you won’t be able to pay.

        What you can do is order a copy of your credit report. From there, you should have a better idea how you can improve your credit history and score. We have a comprehensive guide that you might want to check. The title is, “Improve your credit score to access better interest rates and terms.”

        I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

        Have a wonderful day!

        Cheers,
        Joshua

    2. Default Gravatar
      TracJune 27, 2018

      I been trying to get a loan but everyone keeps denying me i know my credit is real poor but i dont have any credit cards. What can i do?

      • finder Customer Care
        joelmarceloJune 28, 2018Staff

        Hi Trac,

        Thanks for leaving a question on finder.

        Bad credit is tough to shake. Having negative listings on your credit file can seriously hinder your ability to access loans, but if you’re on the “credit fringe” there are still a variety of loan options you can consider. Find out what’s available to you in this guide.

        Cheers,
        Joel

    3. Default Gravatar
      NanciMay 17, 2018

      With a poor credit score, how likely am I willing to get a debt consolidation loan? I have no assets. Which type of loan suits me?

      • finder Customer Care
        MayMay 17, 2018Staff

        Hi Nanci,

        Thanks for getting in touch.

        Even with a low credit score, you can still get a loan to consolidate your debts. You can contact a lender that offers bad credit personal loans. Please note though that the APRs would be higher compared to the APRs offered to a borrower with a higher credit score.

        Cheers,
        May

    4. Default Gravatar
      PeterMarch 27, 2018

      No credit check loan for $5000.

      • finder Customer Care
        JhezelynMarch 28, 2018Staff

        Hello Peter,

        Thank you for your comment.

        Kindly note that short term loans and payday loans may actually vary because not all states are legalizing this. The interests and the types of loans may vary as well. You may try checking with the lenders we have listed here that may be able to consider you for a loan even without credit check. Please make sure that you have met the requirements before submitting an application.

        Regards,
        Jhezelyn

    5. Default Gravatar
      KeithJanuary 22, 2018

      Hello i want to borrow $5000. My credit.score os 580. I was approved by a lender but the deal did not go through because the lender wanted my tax returns for the last two years. I work as an independent truck driver. I work under 1099 not w2. I have not done those taxes yet. Is there any lender that will loan me $5000 based on just my paystubs. I do have some 1099 tax statements from companies that i have worked for. But my taxes have not been done yet. Do you have any suggestions. Thanks

      • finder Customer Care
        RenchJanuary 23, 2018Staff

        Hi Keith,

        Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

        There are other loan options available. All you’ll need is to show that you can repay the loan by providing evidence of a regular income. Lenders have different requirements and eligibility criteria. You may check with them directly first before applying for a loan. You’re actually already on the correct page on where you can compare your options for $5000 loans.

        Best regards,
        Rench

    6. Default Gravatar
      HeathJanuary 6, 2018

      Trying to obtain a loan for 4,000 for an emergency situation with poor credit . What is my best option ? I have been turned down. I really need some help !

      • finder Customer Care
        RenchJanuary 6, 2018Staff

        Hi Heath,

        Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

        When you have a poor credit history, you’re usually not eligible for a loan from a bank or traditional credit lender. However, there are other loan options available. All you’ll need is to show that you can repay the loan by providing evidence of a regular income.

        You can also have a look on this page and compare your options.

        Please click the name of your preferred lender to find out the details and the minimum eligibility. You may then click the green “Go to Site” button to submit your loan application online.

        Best regards,
        Rench

    7. Default Gravatar
      DianaDecember 12, 2017

      Am in Ghana and I need an urgent loan to pay my debts how can I get it. Am unemployed too but have my own personal business doing but due to financial crisis my business is down now.

      • finder Customer Care
        HaroldDecember 13, 2017Staff

        Hi Diana,

        Thank you for your inquiry.

        As per checking on your inquiry you did not mention that you have a bad credit. Your primary concern is you are currently unemployed and looking for the lenders where you can apply for a loan. With your current situation, you may instead want to consider the list of lenders on this page who offers loan for unemployed individuals.

        I hope this information has helped.

        Cheers,
        Harold

    8. Default Gravatar
      LisaNovember 16, 2017

      I need a $5000.00 loan for a used auto so I can keep my job. Been to all the sites from bad credit to high risk, but no one will give me a chance. I was homeless when most my medical bills went unpaid, so That I has a place to live. Had my checkbook stolen and have report on I D thief but still no help.

      • finder Customer Care
        JoanneNovember 17, 2017Staff

        Hi Lisa,

        Thank you for visiting finder, we are a financial comparison website and general information service.

        Lenders have set eligibility criteria which you can check on finder.com review pages. It would be best to check and see if you meet these criteria and if you’re unsure, you can always call the lender to discuss your situation.

        You can apply for any of the lenders on this page by clicking the “Go to Site” button. If you don’t see this button, you can apply directly on the lender’s website.

        Cheers,
        Joanne

    9. Default Gravatar
      BotsheloNovember 5, 2017

      Hey! I want a personal loan of 6000, and I want to know how much well I pay a month. And will like to take this loan for 24month or 12month if it can.Thank you.

      • finder Customer Care
        HaroldNovember 5, 2017Staff

        Hi Botshelo,

        Thank you for your inquiry.

        Your approval and the amount they are going to approve may vary depending on the lender. As long as you can meet the eligibility criteria you may be eligible for the loan. Please check the table provided above to review your options.

        I hope this information has helped.

        Cheers,
        Harold

    10. Default Gravatar
      JustinOctober 24, 2017

      My FICO is 507. I have verifiable income of $74000 a year, and even a start up business making $250,000 a year, yet STILL am unable to acquire a personal loan for $500! Can you assist? So-called “pay day” and “on-line” lenders, openly advertise yet when, I assume, my credit is run, declined is always the reply. Thanks.

      • Default Gravatar
        DanielleOctober 24, 2017

        Hi Justin,

        Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.

        You may refer to this page for options that may suit your needs. You may review and compare the offers available on the table. Once you have selected one, you may proceed by clicking the green “Go to Site” button.

        I hope this helps.

        Cheers,
        Danielle

    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.

    Go to site