Bad Credit Loans has been helping borrowers with bad credit ever since 1998, and boasts being the “go-to” place for bad credit loans. It is free to request a loan from the website, and if you are approved but decide not to go through with a loan, there are no penalties. If you are approved and accept the loan, Bad Credit Loans is happy to discuss the terms in as much detail as you are comfortable with, before you even sign.
|Min Loan Amount||$500|
|Max. Loan Amount||$5,000|
|Loan Term||3 to 60 months|
|Turnaround Time||Varies based on lender|
|Requirements||Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.|
- Apply at no cost and with no obligation.
- Claims to practice responsible lending.
- Private and secure.
- Loans come with high interest rates.
- Be at least 18 years old.
- Provide proof of citizenship, such as a Social Security number, or legal residency.
- Have a regular income, either from full-time employment, self-employment, or disability or Social Security benefits.
- Have a checking account in your name.
- Provide work and home telephone numbers.
- Provide a valid email address.
How does a personal loan from Bad Credit Loans work?
If you have poor credit, and are in an emergency financial situation, Bad Credit Loans can help you secure a personal loan quickly. Instead of lending you the money directly, Bad Credit Loans finds offers from a lender, or lenders, that match your needs.
You can request a loan on your own time, day or night. The company welcomes people with all credit scores, and will help you secure a loan, regardless of your credit rating. You can review the personal loan offer presented without any fees or obligations.
Applying for a loan is quick and easy. All you have to do is fill out the online loan request to get a personal loan offer within minutes from the company’s network of lenders. The approved loan can be deposited into your checking account electronically, within one business day. You don’t have to worry about collateral when submitting a loan request.
Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
Benefits of personal loans from Bad Credit Loans
- No approval fee. Bad Credit Loans does not charge a fee to approve your application. Filling out, and submitting the application are free. The lender you work with may charge fees, so always go over the terms of the loan before signing.
- Fast approval. After you apply, you can receive approval for a personal loan almost immediately.
- Secure. The company uses data encryption technology to make sure your information is protected.
- Quick deposit. Your approved loan can be deposited into your account in as quick as one business day.
Bad Credit Loans features to consider
- Personal loans. You can request a personal loan from $500 to $5,000. Terms range from three to 60 months.
- Not a direct lender. Bad Credit Loans is not a direct lender, and instead connects customers up with reputable lenders within its network.
- Simple qualifications. Bad Credit Loans keeps its qualifications low, so that even applicants who wouldn’t be approved elsewhere can get a personal loan.
- APR. A personal loan from Bad Credit Loans’ lenders typically has an APR from 5.99%. Each lender in the network differs in rates, and will determine the interest rate on your loan based on different factors. You can choose the interest rate and repayment plan that best meets your needs.
- E-consent. The company lets you provide E-consent for electronic signatures, records and disclosures.
- Website. The website is open and accessible 24/7.
How to apply for a Bad Credit Loans personal loan
Applying for a personal loan is easy, and requires applicants to meet the following eligibility requirements:
- Be an American citizen, or a permanent resident of the US.
- Be at least 18 years of age.
- Have a source of regular income.
- Have a checking account in your name.
The application is online, and requires the following information and documentation:
- Full name, contact information, date of birth and Social Security number.
- Credit type, reason for the loan and loan amount.
- Information from a photo ID such as a driver’s license or passport.
- Bank account information.
- Employment and annual income information.
If you have bad credit but need funding fast, Bad Credit Loans’ personal loan could be just the solution you are looking for. Before choosing Bad Credit Loans, be sure to compare it with personal loan companies.
Have bad credit? Find a loan that works with your credit score
Frequently asked questions about Bad Credit Loans personal loans
Do I have to provide collateral in order to get a personal loan with Bad Credit Loans?
No. All loans provided by Bad Credit Loans are unsecured, which means you don’t have to offer an asset as security.
How do I repay my loan?
Repayment terms will differ depending on the lender you’re matched with. Make sure to read the loan agreement in its entirety before you sign anything. Remember that a loan offer is not an obligation, and you don’t have to accept it.
How will I send in documentation?
Most likely you’ll send in your verification documents online, through the lender you’re matched with’s secure website.