Compare easy-approval loans for people with bad credit or low income

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Need a loan? Find lenders who offer easy-approval.

If you’re in need of extra money but don’t think you’ll be eligible for a standard personal loan, you still have options. Lenders who offer easy-approval your credit and instead focus on your ability to repay.

This guide will help you determine if an easy-approval loan is right for you.

Our top pick: LendYou Short-term Loans

  • Min. Loan Amount: $100
  • Max. Loan Amount: $15,000
  • Turnaround Time: 1 business day
  • Loan Term: Varies
  • Requirements: $1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
  • Simple application
  • Quick decision
  • Bad credit OK

Our top pick: LendYou Short-term Loans

Get offers from potential lenders in minutes by filling out just one online form.

  • Min. Loan Amount: $100
  • Max. Loan Amount: $15,000
  • Turnaround Time: 1 business day
  • Loan Term: Varies
  • Requirements: $1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+

How do easy-approval loans work?

Easy-approval loans work like other payday loans. They have short repayment periods, usually less than one month, and high fees because they help riskier applicants who have bad credit. Depending on your state and whether you apply in-store or online, you can receive your loan in as little as one business day after approval.

Steps to making sure you’ll be approved

Getting your loan application approved shouldn’t be a hassle or a nightmare, especially if you do the following:

  • Compare. Compare a range of lenders to find one who is affordable and meets your needs. If you’re not sure where to start, a loan broker might be an option.
  • Prep. Get all your supporting documents in order. Lenders usually want to make sure you have a functioning bank account and a steady source of income, but you’ll also need to include basic contact information in order to confirm your identity.
  • Apply. Complete your application, being as thorough as possible and providing as much information as requested. The more information you give, the more your lender has to work with when determining whether or not you’ll be approved.

Remember, no matter how easy it is to apply to a loan, there is no guarantee that you’ll be approved. These steps should help you, but there’s always a chance you could be rejected.

Comparison of loans with easy-approval applications

Updated October 19th, 2019
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
1 business day
Direct deposit, meet minimum income requirements
Comes with the option to change your due date so you won’t fall behind on repayments.
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
1 to 2 business days
Active checking account, regular source of income, email address
Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
Varies by state
1 business day
Regular source of income, bank account, US citizen or permanent resident, ages 18+
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Same business day to 1 business days
Employed, $800+ regular monthly income, checking account, ages 18+, US citizen
Fill out a simple online form to compare offers from several lenders that may be able to help.
1 to 2 business days
Bank account, email address, phone number, US citizen or permanent resident, ages 21+
Plus, get access to check cashing, cell phone top ups, bill pay and more at one of its many storefronts.
As early as 1 business day
$1,000+ monthly income after taxes, valid checking account
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.
As soon as the next business day
Checking account with ACH, proof of income, Social Security number, ages 18+
Get rewarded for making on-time repayments with better rates and terms on future loans.

Compare up to 4 providers

What you need to know when comparing easy-approval loans

The term “easy-approval loan” covers a wide range of lenders and loan types, but it’s important to realize the differences between them and know what factors matter when comparing your options. Below, we’ve listed some factors that you should consider when deciding where to apply.

  • What is the actual approval period? With an easy-approval loan, you can apply online and know if you’ve been approved within minutes. Storefront lenders will generally take a bit longer to process your application, but you’ll have the option of receiving your loan as cash or a check before you leave.
  • Is the loan secured or unsecured? If you’re able to provide collateral, an auto title loan offers lower interest rates than an unsecured loan. There’s no need for collateral when you apply for an unsecured loan, but they generally require you to have a better credit score.
  • What are the costs of the loan? Easy-approval loans usually have higher interest rates than standard loans due to the higher risk involved, which makes it even more important to shop around for one with a competitive rate in order to reduce the cost of borrowing.
  • Are there any payment penalties? Most easy-approval loans have late payment penalties that add on to the total cost of the loan. If you don’t think you’ll be able to repay the loan on time, it’s better to avoid borrowing in the first place.

What are the benefits and drawbacks of these loans?

  • Loan amount. You can borrow as little or as much as you want once you’re approved.
  • Flexible eligibility criteria. An easy-approval loan doesn’t require the same type of credit as a traditional loan. Usually, you’ll only have to provide your income and personal information.
  • High costs. The main downside with an easy-approval loan is the higher fees and interest rates you’ll have to pay.
  • Not all lenders are reputable. Some lenders work to take advantage of people who need money. Do you research before you apply.

Things to avoid with easy-approval loans

  • Avoid missing a payment. Not only can late payments cause you to owe more in interest and fees, a lender may choose to report you to one of the big three credit agencies. You’ll end up paying extra for the loan and damaging your credit at the same time.
  • Avoid skimming your loan offer. All loans are required to come with terms that outline how much you’ll be paying. Not reading the fine print on an easy-approval loan could expose you to unexpected costs.
  • Avoid taking on more debt than you can handle and exercise caution throughout the loan process. There are plenty of risks associated with easy-approval loans, and you should always confirm a lender is reputable before working with them.
  • Avoid high interest rates by comparing multiple lenders. Remember to consider all costs, including financing fees if applicable. Otherwise, you could be stuck paying double what you borrow.

How to apply for an easy-approval loan

Here are the basic eligibility requirements most lenders will want to know when considering your application.

  • Be at least 18 years old (varies by state)
  • Be a US citizen or permanent resident
  • Have an established credit history
  • Have a regular source of income
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2 Responses

  1. Default Gravatar
    TimApril 30, 2017

    ive tried to get a loan everywhere and have been turned down,what can i do?

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