Get a bad credit personal loan

Find out how much you can borrow, APRs and more.

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Personal loans for bad credit are typically meant for borrowers who have a credit score less than 580. While you may find yourself paying higher interest than other borrowers, if you have the ability to repay, there are lenders that can work with you.

Our top pick: OppLoans Installment Loans

  • Min. Loan Amount: $500
  • Max. Loan Amount: $5,000
  • Turnaround Time: 1 business day
  • Loan Term: 9 to 36 months
  • Requirements: Direct deposit, meet minimum income requirements
  • Easy online application
  • Quick approval
  • Fast funding
  • Long repayment terms

Our top pick: OppLoans Installment Loans

Comes with the option to change your due date so you won’t fall behind on repayments.

  • Min. Loan Amount: $500
  • Max. Loan Amount: $5,000
  • Turnaround Time: 1 business day
  • Loan Term: 9 to 36 months
  • Requirements: Direct deposit, meet minimum income requirements
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Compare personal loans for bad credit

LenderMinimum credit scoreMaximum loan amountAPRs
OppLoans Installment Loans Bad credit accepted $5,000 59% to 199% (fixed)
Go to OppLoans's site
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BadCreditLoans.com 300 $5,000 5.99% to 35.99% (fixed)
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NetCredit Personal Loans No minimum $10,000 34% to 155% (Varies by state) (fixed)
Go to NetCredit's site
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OneMain Financial Personal and Auto Loans Varies $20,000 18% to 35.99% (fixed)
Go to OneMain's site
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CashUSA Installment Loans Bad credit OK $10,000 5.99% to 35.99% (fixed)
Go to CashUSA.com's site
Read review
CashNetUSA LoanVaries by stateVaries by state Varies by state (fixed)
Go to CashNetUSA's site
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How to get a personal loan with bad credit

  1. Check your credit score. Before you get started, get a recent estimate of your credit score — knowing this can help you find a lender that you’re eligible for.
  2. Shop around. Compare lenders that you can qualify with by looking at factors like eligibility, loan amounts, APR and how long it takes to get your funds.
  3. Prequalify with multiple lenders. Once you’ve narrowed down your list, apply with a few of your top picks to find out what rates, terms and loan amounts you might qualify for. You can combine this and the shopping around step by using a connection service — or multiple connection services.
  4. Apply for the loan. Depending on your lender, you may be able to complete an application online or in store. You might have to submit documents verifying your income and identity before you can sign the contract.
  5. Receive your funds. Most lenders transfer the funds to your bank account, though some might offer a check or even prefilled debit card.

How long does it take?

The time it takes for a lender to finalize your loan and get you funds will vary significantly. Some may be able to finish everything the same day you apply, while others may take a week or two. Check with the lender to get an idea of how long the entire process takes before applying.

What information do I need to apply?

While it varies by lender, you’ll typically be asked to provide the following:

  • Contact information
  • Employer details
  • Social Security number
  • Date of birth
  • Pay stubs, tax returns or bank statements

Where can I find a personal loan if I have bad credit?

While you might not be able to borrow from a large bank when you have poor credit, you still have several options to choose from.

  • Online lenders. Online lenders tend to have more forgiving credit requirements than other providers, since many consider factors other than credit when you apply.
  • Credit unions. Credit unions are nonprofit lenders that can work with borrowers of all credit types. Some federal credit unions even offer payday alternative loans (PALs), which cap interest rates at 28%.
  • Local banks. Some banks specialize in building up the economy of their communities and may offer loans with favorable rates and terms designed to help you build your credit.
  • Short-term lenders. After you’ve gone through your other options, payday and installment loan providers offer small-dollar loans — sometimes without a credit check. But you might pay APRs above 700%.

What interest rate should I expect?

Interest rates on a bad-credit personal loan will vary by lender, though you could see rates as low as 28% APR if you borrow from a federal credit union or over 700% APR if you opt for a short-term loan. APRs are higher when you have poor credit since you pose more of a risk to the lender.

While a low credit score won’t necessarily prevent you from finding a loan, your score will impact how much you can borrow and the interest rate you receive. Lenders view lower credit scores as a sign that a borrower is more likely to miss a payment or default on their loan.

Lenders that extend loans to borrowers with bad credit tend to look at your income, current debts and ability to repay instead of your credit score.

6 tips to get a loan with a low credit score

These tips won’t guarantee you’ll be approved for a loan, but they can help increase your chances when you have bad credit.

  1. Check your credit report. Request a free copy of your credit report from one of the three main credit bureaus and look for any errors. Contact your creditor if you notice a mistake to get it fixed before you apply for a loan.
  2. Rebuild your credit. If you aren’t pressed for time, take steps to rebuild your credit before you apply — or consider a credit-builder loan. While it will take time and careful budgeting, improving your score means lower rates in the future and a better chance of being approved for larger loans, like a car loan or mortgage.
  3. Compare multiple bad-credit lenders. If you can’t wait to rebuild your credit, then take the time to prequalify with a few different lenders to find the best offer available to you. You can even let an online loan connection service do the work for you.
  4. Find a cosigner. Having a friend or family member willing to vouch for you and cosign a loan can significantly increase your chances of approval. But they’ll be on the hook for repayments should you find yourself unable to pay.
  5. Opt for a secured loan. Lenders may be more willing to offer you a personal loan — and at lower rates — if you back it with collateral. Just be careful: Defaulting on a secured loan means losing whatever asset you put on the line.
  6. Watch out for predatory lenders. Borrowers with bad credit tend to be targeted more with personal loan scams, so do your research before applying. Check consumer review sites like the Better Business Bureau and Trustpilot to verify the lender is legit. And read over your loan agreement carefully to ensure you understand all of the costs that come with borrowing.

How can I tell if I have bad credit?

The easiest way to know your credit score is to check your credit report. You’re entitled to a free copy of your credit report every 12 months from any of the three main credit bureaus: TransUnion, Equifax and Experian. You can also read our guide to bad credit to learn more about the ways you can tell if your credit is below average.

What to avoid when borrowing with bad credit

Applying for a bad-credit personal loan? There are a few things to avoid:

  • Fully applying for multiple loans at once. Multiple hard pulls of your credit could impact your score negatively. Instead, try prequalifying with a few lenders to get an idea of what rates you can qualify for.
  • Just skimming the rates and fees. Many loans for people with bad credit can be costly, so carefully read over the loan contract before you sign. This can help you determine if a lender is right for you — and if you can afford your loan.
  • Borrowing more than you can afford. Use our personal loan monthly payment calculator to make sure you can handle repayments on however much you’re planning on borrowing.

3 personal loan alternatives for bad credit

Not sure a personal loan is right for you? Consider these alternatives instead:

  • Credit card cash advance. You can withdraw a cash advance from an ATM if you have a credit card. Check your credit card advance rates first. While they can be high, they might not be as costly as a personal loan with bad credit.
  • Pay advance. Pay advance apps like Earnin allow you to get an advance on the hours you’ve already worked for an optional tip. And some employers offer pay advances as an employee benefit.
  • Friend and family loans. Your social circle might be willing to help you out for a lower rate than a personal loan provider. Consider using a service like LoanWell to come up with a legally binding contract.

Bottom line

Bad credit isn’t the end of the line when it comes to taking out a personal loan. Credit unions, CDFIs and online lenders all offer options, though how much you’re able to borrow might be limited. And you’ll likely face higher interest rates and fees, since you pose more of a risk to the lender.

Learn more about how it all works with our guide to personal loans.

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20 Responses

  1. Default Gravatar
    AhnahDecember 14, 2018

    I have a checking account with a bank. But not direct deposit with the bank. I don’t have bad credit but I don’t have any so its fair. Where can get a loan ONLINE With a DIRECT Lender???

    • Avatarfinder Customer Care
      nikkiangcoDecember 18, 2018Staff

      Hi Ahnah,

      Thanks for getting in touch! You can check the list of lenders we have on the information above. As a friendly reminder, review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy. Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Best,
      Nikki

  2. Default Gravatar
    TheresaSeptember 12, 2018

    I have really bad credit and has only been made worse over the last couple days…. I am I desperate need of a loan very quickly… Who will legitimately help me

    • Avatarfinder Customer Care
      johnbasanesSeptember 13, 2018Staff

      Hi Theresa,

      Thank you for leaving a question.

      I understand that bad credit does hinder one in taking out a loan but there are lenders who may be willing to assist you on this. On this page that you are on are a list of lenders who you could inquire about getting a personal loan out. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!

      Cheers,
      Reggie

  3. 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!

    • Avatarfinder Customer Care
      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,
      Judith

  4. Default Gravatar
    samanthaSeptember 26, 2017

    Do you also loan people in Namibia?

    • Avatarfinder Customer Care
      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.

      Regards,
      Judith

  5. 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.

      Cheers,
      Jonathan

  6. 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

    • Avatarfinder Customer Care
      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.

      Cheers,
      Ash

  7. 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?

    • Avatarfinder Customer Care
      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.

      Cheers,
      Harold

  8. 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

    • Default Gravatar
      DanielleAugust 1, 2017

      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.

      Cheers,
      Danielle

  9. 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?

    • Avatarfinder Customer Care
      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.

      Cheers,
      Harold

  10. 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.

      Cheers,
      Jonathan

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