Bad credit personal loans

Bad credit and need a loan? There are options for you

Getting a personal loan can be easy, even if you have bad credit – here’s all you need to know

People across the US turn to personal loans for varied reasons, but poor or bad creditworthiness can minimize your chances of getting funding. Fortunately, even people who suffer from poor or bad credit history can get personal loans, but they may have to pay higher than usual interest.

When your credit rating is low and you’re looking to get a personal loan, you’ll need to deal with a lender that looks at more than your credit score. Transparency in rates and fees is equally important. If you’re not sure about how bad credit personal loans work or what to look for in lenders that offer those loans, look through this guide before you sign.

This provider has been helping people with bad credit ever since 1998, and boasts being the “go-to” place for bad credit loans.

  • Min. Loan Amount: $500
  • Max. Loan Amount: $5,000
  • Loan Term: 3 to 60 months
  • Turnaround Time: Varies based on lender

    Online loans to apply for with bad credit

    Rates last updated December 12th, 2017
    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 60 months
    Varies based on lender
    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.
    6 months to 5 years (varies by state)
    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.
    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 to demonstrate sufficient monthly income.
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    Varies by state
    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.

    Compare up to 4 providers

    How do bad credit personal loans work?

    Your first have to find for lenders that provide loans to people with poor or bad credit scores. These lenders may look at your credit history, but they also take your existing financial condition, and ability to repay into account. Depending on the lender you choose you can apply in-store or online, but remember that you’ll have to meet some basic eligibility criteria.

    If you apply in-store, you can get your hands on the approved cash almost immediately. With online loans for bad credit, the money transfers into your nominated bank account. While some lenders may give you access to funds on the same day, others may require you to wait in between one to three business days, or longer.

    You’ll get the following features with a bad credit loan

    If you’re looking at personal loans for bad credit examine these key features:

    • Unsecured. These loans are typically unsecured, so you don’t have to provide any kind of collateral.
    • Quick process. You can apply for most such loans in minutes, and you can expect to find out about your application’s status soon after. If you need access to money quickly you can look for lenders that provide access to approved funds on the same day or by the following business day.
    • Fixed rates. Bad credit personal loans usually have fixed interest rates, so you don’t have to worry about your repayments fluctuating over time.
    • Use money for different purposes. If you have debt on a high interest credit card you can consider taking a personal loan to consolidate your existing debt. This can help you save on interest charges and simplify your repayments. You can use proceeds from such a loan to buy a used car, repair your car, make home renovations, take a vacation or for any other worthwhile purpose.
    • Prepay and save. Some lenders let you repay your loan ahead of time without charging any additional fees. Doing this can reduce how much you end up paying in interest.

    What types of bad credit personal loans are there?

    In your search for bad credit personal loans, you have the following options:

    • Payday loans. Payday loans are short-term loans that you typically have to repay by your next payday. You don’t have to provide any collateral to secure these loans, but you can expect to pay a higher than usual APR. These loans are not legal in all US states.
    • Installment loans. An installment loan requires you to make equal periodical repayments over a predetermined loan term. These loans don’t require any collateral, and normally charge lower APRs than payday loans.
    • Auto title loans. If you have a car or a motorcycle you can use its title as security and get an auto title loan. Since you’re providing security, you can expect to pay a lower APR when compared to payday or installment loans. You’ll have to repay such a loan in installments over a predetermined time period. If you don’t make the payments, the lender can take possession of your vehicle.
    • Cash advances. Cash loans for bad credit are essentially the same as payday loans. If you have a credit card, you may be able to use its cash advance facility to withdraw money from an ATM. If you have a steady job, you might consider getting a cash advance from your employer.

    Things to avoid with bad credit personal loans

    If you already have poor or bad credit history, make sure you have a repayment plan in place before you apply for any further loans. Failure to repay the loan in a timely manner can have a further adverse effect on your credit rating. Avoid applying for multiple loans at or around the same time, as prospective lenders don’t view this favorably.

    The APR you pay can have a significant effect on how much your loan ends up costing, so make sure you compare this aspect carefully. Paying attention to fees and charges you may have to pay under different circumstances is also important, as these can vary considerably.
    Can I get a loan if I’m receiving social assistance?

    Frequently asked questions about bad credit personal loans

    It’s important to compare your options before applying. Start your comparisons here.
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    16 Responses

    1. Default Gravatar
      AliceOctober 29, 2017

      Hi, I’ve was laid off work about 6 months ago, have been struggling to find work, but have been receiving unemployment benefits which will be running out in a month. There have been unforeseen emergencies that took place within the past month that have unfortunately left me unable to pay my rent in a few days. My credit is bad (last checked it was 549), and I do not own a car. I’d like to get a loan of at least $1,000 (rent amount) to $1,500 maximum (extra $500 would be for phone and electric bills, public transportation, and basic necessities such as food), but will obviously take anything in-between. I reside in Los Angeles and am getting pretty desperate. Any recommendations? Thank you so much!

      • Staff
        JudithOctober 30, 2017Staff

        Hi Alice,

        Thanks for contacting finder, a comparison website and general information service.

        I hope everything would turn out well for you. Some lenders require you to be employed, but you may find a lender that will consider you if you are unemployed. 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. You may find a list of loan options on this page.

        Kindly take time to read this link too so you can find out more information on the lenders which accept applicants with alternate income.

        I hope this helps.

        Best regards,

    2. Default Gravatar
      samanthaSeptember 26, 2017

      Do you also loan people in Namibia?

      • Staff
        JudithSeptember 26, 2017Staff

        Hi Samantha,

        Thanks for contacting finder, a comparison website and general information service.

        The page which you’re viewing is for US and is not available in Namibia.


    3. Default Gravatar
      AndreaSeptember 25, 2017

      Yes I am trying to borrow around $3,000 for moving costs. I can prove income I don’t have a bank account but I have a prepaid credit card. I live in a state that prohibits payday loans. I was unaware that if I applied to a number of different lenders it would look bad on me. I really need this money but I can’t get anybody to help me out. My credit score is in the Fair Credit range. I don’t want to be homeless. Thank you

      • Default Gravatar
        JonathanSeptember 26, 2017

        Hello Andrea,

        Thank you for your inquiry.

        You can check our personal loans located on this page. At the top of the comparison table, kindly select your state of residence and credit score range as availability varies.

        It is worth advising that eligibility and lending terms differ, so it is imperative to understand it fully prior accepting the loan. You may click “Go to Site” green button of your chosen lender to proceed with your application.

        Hope this helps.


    4. Default Gravatar
      CandyAugust 23, 2017

      Hi. My credit score is low but i need a loan of 10,000 . Where can I get a loan with the least amount of wait time? Or what is the most u can get with a low credit score . I’m 21. And don’t have assets I just have a car I don’t want to use for an auto title loan. What are my options to get my hands on some money with bad credit thank u

      • Staff
        AshAugust 24, 2017Staff

        Hi Candy,

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

        Actually, you are on the right page as you have the list of lenders that offers loan even if you have a bad/ low credit score. You can also visit this page for other lenders that offers $5000 to $20000 personal loan.

        Kindly make sure to review first all the eligibility criteria of the Lenders and so as the loan details before submitting your application. You may click on the green ‘Go to site’ button to be directed to the Lender that will suit your needs.

        I hope this helps.

        Let us know if there is anything else that we may assist you with.


    5. Default Gravatar
      SadyAugust 7, 2017

      Any suggested sites (personal loans, cash advances) that dont require bank account & will allow to use pre-paid debit card?

      • Staff
        HaroldAugust 7, 2017Staff

        Hi Sady,

        Thank you for your inquiry.

        Payday lenders are typically more concerned with your ability to repay the loan than other factors like whether or not you have a bank account. If you can provide proof of income that supports that ability, they’re less likely to be concerned about your lack of a bank account. You may want to consider the options here.

        I hope this information has helped.


    6. Default Gravatar
      CarolAugust 1, 2017

      I need a loan of $1500 to pay utilities and dental work. I have a pension from Federal Government but credit not good. Where can I obtain a loan. Have been turned down. Need help electric about to be turned off

      • Staff
        DanielleAugust 1, 2017Staff

        Hi Carol,

        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.


    7. Default Gravatar
      ChrisJune 5, 2017

      I got loans out there I want to pay them all off and I got bad credit is there a lender out there that will lend me money?

      • Staff
        HaroldJune 19, 2017Staff

        Hi Chris,

        Thank you for your inquiry.

        As per checking you are on the correct page where you can check and review the offers through section “Compare installment loan options”. Additionally, you may find helpful the additional options here.

        I hope this information has helped.


    8. Default Gravatar
      MarianFebruary 12, 2017

      I have fair credit and I need to borrow $2,500. I have a job and I can pay back but due to my credit, no one wants to help me. I am working with a credit counseling service and they are helping. However, I just need this amount to pay everything off so that I can have one bill and save on interest. I have tried loan sharks but I was leary with them. If you know someone that can help me, I would appreciate it.

      • Default Gravatar
        JonathanJuly 28, 2017

        Hello Marian,

        Thank you for your inquiry.

        You may consider checking our debt consolidation loans, that is specifically designed for clients who want to pay off their existing obligations and put it into one bill.

        Please take note that you need to inform your credit counselling group about your plans to take up another form of credit, so that they can balance it with your existing cash flow and monthly repayments (if you have started paying to them).

        To set your expectations, our list of lenders on that page have their own credit guidelines, so it will be recommended to check their individual sites to know their requirements before applying.

        Hope this helps.


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