Life can be unpredictable, and just when you think you have finally sorted out your financial situation, something comes along to throw you out of whack. It may be a vehicle breakdown, an urgent medical matter, or an unexpected family event, and that’s when you find out that your previous bad credit score makes it hard for you to borrow the money you need.
But don’t give up – when you need cash urgently and are looking for online loans for bad credit, you don’t want to spend a lot of time filling out application forms and waiting for loan approvals, so go to these websites for a fast and easy solution.
Here are our top picks.
- US Bad Credit Loans: Best Overall for Bad Credit Loans With Guaranteed Approval
- CocoLoan: Best for Wide Ranges of Bad Credit Loan Offers to Compare
- WeLoans: Best for Online Loans for Bad Credit With Fast Decision
- US Installment Loans: Best for Bad Credit Loans With Monthly Installments
Top 10 Bad Credit Loans With Guaranteed Approval
US Bad Credit Loans
US Bad Credit Loans is a fully authorized broker so you can feel secure when searching for bad credit loans online. Their easy application process gives you instant access to multiple lenders specializing in bad credit loans. The whole process can be done online and you can borrow up to $35,000. Once the lender approves your loan, you can usually get the money within 24 hours.
US Bad Credit Loans specializes in assisting people with bad credit scores to find the best online loans, and loan approval is fast since all required information is given in the online application form with no additional documents needed.
Working with US Bad Credit Loans can boost your chances of getting a loan through their partnered lenders who understand that people can have financial difficulties, and they will be more interested in your current income and any outstanding debts when they consider your loan request.
- Fully authorized and secure broker platform
- Loan amounts up to $35,000
- Fast application
- Funding within 24 hours
- Limited in some states
CocoLoan can help you get bad credit loans online through their extensive network of lenders. They can find you the right loan without security despite your bad credit score. They have one of the best online platforms that can connect you with multiple lenders, and you can also find various other loan types such as personal loans, title loans, and installment loans.
Lenders at CocoLoan offer you bad credit loans with flexible repayment terms and conditions that suit your situation so you can choose the best for you. However, most short-term loans such as payday loans have a high-interest rate, make sure that the loan is what you really need before applying. Some types of loans may not be available in all states due to local regulations.
- Bad credit payday loans online
- Various loan types available 24/7
- Wide lender network with flexible terms and conditions
- Loan amount up to $35,000
- Not available in all states
WeLoans is one of the best options for online loans. Their extensive network of lenders can provide a small-dollar loan for people with bad credit, and the application form is fast and easy to fill out. With WeLoans you will get offers from a large variety of lenders and you can compare interest rates, loan repayment terms, and any other conditions of the loan.
The approval rate through WeLoans is 90%+, and you also have the option of applying for other types of loans such as personal loans and title loans, all through lenders who will guarantee approval and who focus on your current situation and your ability to repay the loan rather than just your credit score.
It is important to note that interest rates for bad credit loans can be higher than other loan types, so you need to consider your options carefully. Also, you should check out the WeLoans website for information on local state regulations which may put a limit on loan amounts to bad credit borrowers.
- High approval rate
- Easy submission process
- Options for various loan types
- High-interest rates for extremely bad credit
US Installment Loans
When you are looking for installment loans with bad credit, US Installment Loans can help. Just fill out the online form and you will be quickly contacted by a variety of lenders who will offer a loan that you can accept after checking the terms and conditions, and the cash will be yours within 24 hours.
If you worry about a credit check showing up on your credit report, lenders at US Installment Loans only do a soft credit pull to look at your current situation, which does not affect your credit score. In fact, as you repay the loan on time, this will improve your credit rating, making it easier for you to get a loan at a lower rate next time. Plus, the website uses bank-level security to protect your personal details
- Soft credit check only
- Cash within 24 hours
- Competitive and affordable interest rates
- Flexible repayment options
- Safe and secure site
- More interest payable over a longer term
iPaydayLoans can make it fast and easy for you to find online loans with bad credit. The lenders in their network will mainly consider your current income level and your recent employment history and you will get instant offers for amounts up to $35,000.
iPaydayLoans can assist you to get bad credit loans with guaranteed approval, and you just apply using the online form with the required information, which only takes a few minutes. It is then sent to a network of lenders who will give you multiple offers, allowing you to compare the rates and repayment terms and choose the best one. Once you accept the loan, the money can be in your bank account within hours.
- Easy to compare lenders
- Simple online form with fast response
- Loan amounts up to $35,000
- Same day funding
- No mobile app
BadCreditLoans has many lenders in their network specializing in providing loans for bad credit, and they understand that these days it is very difficult to have a perfect credit score. Your monthly budget can be thrown out by an unexpected bill, and they are ready to help. The amount of the loan will depend on your credit rating and your current ability to repay, but you can request up to $10,000.
As soon as you fill out the form on the BadCreditLoans website, your information will be sent to multiple lenders who will make a final decision. Their online service for bad credit is available 24/7, and all your personal details are protected by the BadCreditLoans website encryption technology.
- Free, no-obligation quotes from lenders
- The best website for small bad credit loans
- Collateral not required for short-term loans
- Data secure by encryption technology
- Credit score under 500 can only borrow less than $1,000
US Title Loans
One of the fastest and easiest ways to get a loan with bad credit is to go for a title loan, secured against your car title. This way there is no need for a credit check and there are a few other requirements that you can find out about on the US Title Loans website.
After you submit your personal details on the online form, you can use the search facility on the website to find reliable title lenders near you, and you can then check their different terms and conditions before deciding to go ahead. Borrowers with bad credit can easily find lenders who can solve their cash problems.
- Easy to search for a title loan near you
- No application fees
- Keep driving while you repay the loan
- Loan amount limited by age and value of the car
Fast Title Loans
Fast Title Loans offers various loans for borrowers with bad credit They partner with multiple lenders who can offer loans including payday loans, personal loans, installment loans, and title loans. You can get bad credit loans with varying amounts depending on how bad your credit is, and other requirements of the lenders such as minimum income level.
The application process is very simple and all credit scores are considered, making Fast Title Loans one of the top choices for many borrowers who are looking for loans for bad credit online. No hard credit check is required as long as you can show you have a regular income and can afford to make the repayments on time, which will also help to improve your credit score.
- All credit types considered
- Various loan types offered with bad credit
- Loans amount up to $35,000
- No hard credit check
- Not available in some states
CashAdvance provides a completely free service. Just take 5 minutes to fill out the online forms and you will be connected to multiple lenders from their network If you get approval for a short-term loan with bad credit, you can often get the fast cash the same day by direct credit, and at least within 24 hours.
The loans are generally for amounts from $200 up to $10,000 to solve short-term cash problems. To help CashAdvance to keep their services totally free they may also contact you with offers for other services such as debt relief, credit repair, and credit monitoring.
- Free service
- Instant loans up to $10,000
- Flexible repayment terms
- Data may be used for marketing purposes
As a direct lender, OppLoans can make an instant decision on your bad credit loans and if approved, the money can be in your account within a few hours. OppLloans offers installment loans up to $4,000 and repayment terms are from 9 to 18 months.
With OppLoans, there are no additional fees or charges, no early repayment penalty, no loan processing fee, and no fees for late payment. OppLoans does not do a credit check for bad credit but will review information from a credit bureau to check for outstanding debts, and they will also need to see bank statements to check a borrower’s monthly cash flow.
- Fast and easy finance
- Up to $4,000 with bad credit
- No additional charges
- High-interest rate
What to Consider When Comparing Bad Credit Loan Lenders?
Some lenders have a minimum score requirement. They will check your debt-to-income ratio to see if you can afford the repayments comfortably. They may also see if you can provide collateral against the loan, or can get someone with better credit to co-sign the loan with you.
Annual Percentage Rate
The APR is more than just the interest rate, it also includes any other fees the lender charges such as processing fees. The highest recommended APR is around 36% so you should check for this.
You need to do this before accepting a loan so you can see if the repayments can fit into your monthly budget.
Other Loan Features
If you have multiple offers you can compare not only the APRs and monthly costs but also any other services or flexibility the lenders may offer such as reports to credit bureaus to improve your credit score, or the ability to change the repayment date.
How Can I Spot Bad Credit Loan Scams?
Most lenders are reliable and safe, however, you should always watch out for scams, and here are some red flags you can look out for:
Guaranteed Approval with No Checks
A reputable lender will want to know some basic information about a borrower before offering a loan, such as current debt status, basic credit report, monthly income, and other eligibility information. If a lender has no interest in your current and past situation it might be a bad sign.
No State Registration
All lenders must be registered in the state where they do business. If a lender is licensed in your state it will display this on its website; if not you should check first.
Poor Advertising Methods
Cold calling by phone or door-to-door is not considered suitable for trustworthy lenders, so avoid these.
Some legitimate lenders charge processing or origination fees and application fees which are normally added to the APR or paid when the loan is taken out. If a lender asks for any prepayment of fees before the loan is provided you will know it is not legitimate.
A secure website has a URL address starting with “https”. If it only shows “http” it will probably not be safe and secure. It should also show a padlock symbol on any page or form that asks for your personal details.
No Physical Address
Any reputable lender should have a physical business address listed on its website.
These days it is difficult to maintain a spotless credit history. Fortunately, many lenders and brokers understand this and they have made it easy to find you the finance to solve your cash flow problems. But you need to be aware that these bad credit loans can be costly, so it makes sense to spend a little more time comparing loan offers to make sure you get the best deal.