The things guaranteed in life are few and far between, so you have to grab them when you can. If you have bad credit but need a loan anyway, something with guaranteed approval is exactly what you need.
By “guaranteed” approval, we mean lenders that have flexible credit requirements. You may notice as you read that some of these lenders are more well-known than others. However, each has its reasons for making its way to our list.
For those with a blemished credit history, you might try out one of the top bad credit loans in this guide. Before we dig in, though, we do want to touch on the biggest benefit of using one of these lenders.
Even if you have poor credit, this can be the path to starting your credit repair. Taking out a loan will be added to your credit history – so it can only get better from here!
Likewise, you’ll need to understand how a process like this works. None of the companies we recommend will ever be a scam or fraudulent. They may require higher interest rates than other lenders, though.
Throughout this guide, we’ll touch on each loan network’s features, pros, and cons. By the end, you’ll have a powerful set of recommendations, as well as the know-how to choose between them. Now, let’s dive into our full list on which lenders are more lenient with bad credit.
The top bad credit loan companies include:
While PersonalLoans is free to sign up for and free to apply, it’s not the most well-known on our list. Out of our lender recommendations, it may have the fewest consumer reviews.
Newer to the world of lending, what it doesn’t have in reputation it makes up for in benefits. With a quick and easy application process, you can get your loan money within hours. The platform brags that you can get a next-day direct deposit upon approval of your loan.
The best part is, they work with users that have damaged or bad credit. No matter the reason, the company understands that everyone deserves another chance. This is a great company to get started with on the road to credit repair and a better credit score.
- Free to signup and apply
- Quick, short, and easy application process
- Secure online form ensures your information is safe
- Their lender network is broad and diverse
- Works with poor credit users
Rapid1k.com – Best for Quick Deposits
When you have bad credit, you don’t want to worsen by adding multiple credit inquiries to your history. It’s best to choose a network and send out just one application. Alternatively, some users opt to choose loan companies that just do a soft credit check.
Instead of trying to get approved by countless companies, lenders could be pre-qualified to reach out to you. With Rapid1k.com, they bring you a network of lenders ready to approve you.
Like with a few other loan companies, you can see your funds as quickly as the next business day with Rapid1k.com. Reliable and efficient, they make applying and securing a bad credit loan a breeze. Everyone’s situation is different, which is why you deserve a network of lenders tailored to approving you.
While they can help out in a pin, the network offers a loan limit of up to $2,500. If you’re looking for a larger sum at once, you may want to keep reading. It’s free and easy to apply to this platform, however.
- Free and secure to apply
- Short, easy form to fill out for application
- A loan approval decision can be made in minutes
- Direct deposit can hit by the next business day
- Loan limit of up to $2,500
BadCreditLoans.com – Best Overall Bad Credit Loan Company
A company that’s been in the game for over 20 years is BadCreditLoans.com. While they might not have the nicest APR per loan, what bad credit loan company does? It depends greatly on your credit, too. Their APR can range from 5.99% to 35.99%.
They offer loans between $500 and $5,000, which is generous for users with poor credit. Their loan terms also vary, so you can choose between 3 to 36 months to pay off your loan. Overall, they’re a worthwhile loan company to apply to.
In addition, they have a streamlined 3-step process for application. Once you put in your loan request, you can review what offers lenders have for you. You’ll spend some time looking through all the offers, then sign a contract that fits your needs! Money is deposited after 24 hours.
- With just one application you’ve connected to their entire network of lenders
- Direct deposit can hit your bank account in under 24 hours
- Very flexible credit requirements
- The company has been in the loan industry for over 2 decades
- They offer an easy 3-step application process
- Loan limit of up to $5,000
ZippyLoan – Best with Collateral of a Co-Signer
Perfect for borrowers with low credit scores, ZippyLoan knows how to take care of its users. They prioritize the ability to repay a loan application, which is a huge plus for you. While rates can be high, they have a much easier accept rate than many other lenders.
Plus, they have a higher loan limit if you need a larger sum of money. Their loans range from $1,500 to $20,000. If you’re looking for a smaller sum, you might want to look at one of the other loan companies in our guide.
Overall, ZippyLoan is ideal for those that like flexibility. With an option to choose your payment date and different offers available, they try to accommodate all needs. They also have next-day and even same-day deposit options depending on how quickly you get approved.
One big factor we noticed that some of the other lenders don’t have is their resource section. So that you’re not caught off guard or left uninformed, they have educational resources online. We appreciate this extra touch so that their users feel more informed and confident about their loan decision.
- No minimum credit score to apply and get approved
- If you can add a co-borrower or include collateral you can get your APR lowered
- Receive the funds fast, in as little as 24 hours
- Soft credit check to pre-qualify, but they report your payments to all three credit bureaus
- Loan ranges from $1,500 up to $20,000
Now10k.com – Best for Limited Credit History
As the name might imply, Now10k.com makes it easy to get up to $10,000 fast. The company boasts that all they need from you is a few minutes and your bank information. While that might sound a bit fishy, they say it to reassure you that your credit doesn’t have to be involved.
When you get approved, your payments can get reflected on your credit history. To get approved, though, they don’t require credit info. If you have poor credit but need a loan quickly, this is a solid option to choose.
They also have an accelerated online lending process that makes it easy to get approved. Overall, Now10k.com is a viable choice for those that need flexible approval.
Since everything is done online, the application process is simple, easy, and takes just a few minutes. Then, the funds can be deposited into your bank account within the next business day.
- Quick approval decisions even for poor credit
- Gain access to a network of lenders across the country to easily find a match
- Money can hit your bank account by the next business day upon loan approval
- Online form to apply is fast and simple
- Loan limit of up to $10,000, as the name might suggest
Lendafy.app – Best for Rapid Approval
Lendafy offers more than just options for those with poor credit. They’re an app that works with all types of credit to make it fair for everyone. After applying, they boast that you can get approved for a loan within just 2 minutes.
Unfortunately, the app doesn’t offer services in Arizona, Connecticut, Georgia, Massachusetts, Maryland, New York, Pennsylvania, Vermont, or West Virginia. That’s still a wide network across the nation, though.
The company offers loans up to $10,000, so they’re a worthy option for many users. Alternatively, for those that don’t need a lot, their loan minimum starts at $100. If you have employment and meet their minimum income requirement, it’s easy to get a loan with Lendafy.
- Can get an approval decision within just 2 minutes of applying
- Flexible credit requirements to make it easier for those with poor credit
- Loans start at $100 for those that don’t need to borrow thousands
- Direct deposit can hit on the next business day after loan approval
- Loan limit of up to $10,000l
Upstart.com – Best for Higher-Sum Loans
Finally, we have Upstart, one of the most well-known names in the industry. While they haven’t been in the game for long, they’ve certainly built an exemplary reputation. Their loan limits start at $1,000, ranging up to $50,000.
Unlike other loan companies, they also have longer payment terms. Payback your loan in 3 or 5 years instead of struggling to pay it back in less than 24 months. Plus, there’s not a minimum annual income like many other lenders require.
It may not be the best option if you have under a certain credit score, though. A minimum credit score of 600 is preferred. For users with damaged credit that still meet this minimum, Upstart might be the answer.
Overall, the company is a worthwhile option for someone with bad credit to look into. With such a vast loan range, Upstart could help change your financial situation entirely. As with many of the other lenders on our list, you can also receive money in as little as 24 hours with their next-day deposit.
- Payment term of 3 or 5 years, making it easier to pay back over time
- Can receive money in as little as 24 hours with next-day direct deposit
- There’s not a required minimum annual income specified anywhere
- A minimum credit score of 600 is preferred for this lender
- However, loan limit from $1,000 up to $50,000
Now that we’ve shown you the top bad credit loans, we hope you can see the pure opportunity available. Even with a damaged credit history, you can turn your credit around with any of these forgiving credit lenders.