Best Bad Credit Loans

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Contributor, Benzinga
August 14, 2023

Financial troubles can be distressing and sad to deal with daily. Financial difficulties, such as being unable to pay all of your bills, may demand the use of a loan. But what if you have a bad credit score history? Because banks frequently require a credit score of 660 or more, obtaining a loan with a low credit score may be difficult, if not impossible.

The good news is that there are reputable lenders that provide bad credit loans with guaranteed approvals, which you can obtain online. Most loan providers charge too high-interest rates to be affordable to customers with poor credit. As a result, your financial situation may deteriorate over the loan term.

We believe you will get the best service and interest rates from the platforms reviewed in this article. There are reliable, trustworthy and reasonable solutions available for people with bad credit, so keep reading to find the right one.

Top Bad Credit Loans From Top Direct Lenders: 

  1. Best for Emergency Loans: Avant
  2. Specializing in Emergency Loans and Bad Credit Loans: MoneyMutual
  3. Best for Fast Funding: BadCreditLoans
  4. Best for Instant Payday Loans: RadCred
  5. Best for Instant Cash Approval: CashUSA
  6. Best for Interest Rates: PersonalLoans

Here are the detailed reviews of Benzinga’s picks for quality loans for those with poor credit:

1. Best for Emergency Loans: Avant

Avant is a lender you can try right away by visiting the website, submitting an application and taking a look at the loan options that are available.

The website is easy to use even on a mobile device, and your business can take advantage of:

  • No collateral, unsecured financing
  • An online loan eligibility calculator
  • Loans that could be as high as $35,000
  • A range of loan terms that suit your situation

With a great customer service team and available funding for any number of situations, you can turn to Avant when it’s time to finance emergencies, unexpected expenses, etc. Remember, though, you will need to contend with the repayment terms and interest rates attached to the loan.


  • You can choose a loan term that seems to make the most sense for you
  • You can use these loans for any purposes, allowing you to handle any of life’s issues


  • While these loans can reach fairly high, you cannot be sure exactly what you will be approved for

2. Specializing in Emergency Loans and Bad Credit Loans: MoneyMutual

Many lenders and lending choices are available through MoneyMutual's online platform. You'll have access to over 60 lenders and a wide range of loan kinds in a few simple clicks, all with favorable terms.

The platform's user-friendly and straightforward website connects borrowers with lenders. Fill out the MoneyMutual’s application form, which is subsequently sent to lenders for evaluation. Because you don't have to fill out a form after form after state, lenders come to you with their proposals. 

We were also pleased to see that MoneyMutual offers bad credit loans, which pushed the company to the top of our ranking. 

MoneyMutual lends money to those with terrible credit, but the interest rates are substantially higher. These loans are suitable for anyone with bad credit, and many lenders in the MoneyMutual network also look for other aspects outside your credit score. As a result, they will have a better idea of whether or not a loan is worthwhile.

Every month's revenue level is one criterion that these lenders may consider. They can provide you with lesser loan amounts that can assist you in getting out of a brief financial issue or fixing something urgently.

Some of the features they provide are listed below.

Cash Advances

It is possible to get a cash advance from MoneyMutual and use it to pay for any unexpected financial need. You may need to pay a past-due bill, repair your car, or make a rent payment. Since you have to put up collateral to ensure you can repay the loan, cash advances can be quite dangerous. In addition, the lender may charge enormous interest costs due to the form of credit, so expect very high-interest rates.

Fees and Interest Rates

Please be aware that we do not have any information regarding the fees and interest rates a particular lender will charge you. This is important to know. Depending on the length of the payback period and the lender's criteria, you will incur the yearly percentage rates and fees. MoneyMutual is a free resource, and you can be assured that this lending company does not collect any fees for its services.


  • Provides access to some of the best lenders available in the industry
  • A free and open-source resource
  • Loans ranging from $200 to $5,000 are available
  • Account opening is simple
  • Simple conditions for obtaining a loan
  • Prompt action and financial support
  • Customer support per email and phone


  • Only in the United States does it provide financial services

3. Best for Fast Funding: Bad Credit Loans

Established in 1998, BadCreditLoans aims to assist anyone with a poor credit history. They connect borrowers and lenders through a sign-up form as a mediator. Although the BadCreditLoans website does not act as a direct lender, it works with respectable and legitimate lenders who offer bad credit loans. Personal installment loans, peer-to-peer loans, and traditional bad credit personal loans are all the options they provide. Depending on the lender, the funding may come from corporations or individuals.

They also connect their clients with tribal lenders, which typically charge higher interest rates because they don't adhere to any APR laws. You may also apply for a loan through the platform's mobile phone app, which is quite convenient and quick. As one of the few services, it demonstrates the company's commitment to providing excellent service.

The services offered by BadCreditLoans are entirely free of charge. Most similar platforms lack this capability. Signing up and submitting an application to a lender is free, as are applicable taxes or other fees. As a borrower, you are solely responsible for any fees, and conditions lenders impose on their loans.

They only work with trustworthy lenders who have a track record of success. Even though they have no say in the platform's decisions, all lenders are upfront and honest about their services. This platform is excellent since it only works with lenders who meet a high-quality standard. As a result, customers and lenders may straightforwardly deal with one other.

The Algorithm

You may also use the platform's technology to find lenders interested in your application. As a result, they came up with a unique way to connect borrowers and lenders. Consider that some lenders only offer certain types of loans, while others provide a wide range of choices but with various negatives. 

You will likely require a high credit score to obtain a loan from another lender. Consequently, BadCreditLoans only sends your application to lenders who fit your precise criteria.


  • One of the most outstanding venues for lending in the United States
  • Loan options are available in a wide variety
  • Lenders who are safe and trustworthy
  • Loans of up to $10,000 are available
  • Rates range from 5.99% to 35.99% on an annual basis
  • Email and telephone support are available for customers


  • Fees and interest rates were higher for certain people than for others

4. Best for Instant Payday Loans: RadCred

The RadCred platform, which is divided into two categories, can help those with excellent and adverse credit. One of the few, if not the only, media that provides financial services is a team of expert lenders dedicated to assisting people with bad credit. Since its inception in 1998, this program has helped over 750,000 people and is still going strong today. It has linked customers with a nationwide network of certified and qualified lenders.

To be eligible to apply for a loan with RadCred, you must meet several requirements. To qualify, you must also be 18 years old, have a bank account, and earn a monthly paycheck. Additional choices include disability compensation, unemployment benefits, rental property income, investment profits, etc. 

It has received countless positive reactions from people all around the country who were happy with its service. 

Customers' personal information is protected via the RadCred platform, which has been approved for safety. It has been awarded the McAfee LiveSafe certifications, which show that the platform's database has been encrypted to a high degree. 

Certificates issued by third-party organizations show that this platform is secure and that any personal information you provide is encrypted. As a result, all data is shielded from cyberattacks.

On this platform, loans are available in two separate categories. Customers who pay their debts on time are part of a different team. The other team specializes in helping clients with poor credit ratings receive a loan, providing them with the most acceptable options available. This is a terrific strategy since it will increase your chances of acquiring a bad credit loan by submitting your application to lenders who are likely to accept it. 

Some lenders may be more financially robust and provide arrangements to customers with both good and low credit. You may borrow much more money and pay a lower interest rate with an excellent RadCred. There are good and bad RadCred sums up to $40,000 and $5,000, respectively.


  • When it comes to lending institutions in the United States, RadCred is one of the most dependable
  • Many educational resources are available on this great platform
  • Using a personal calculator is an excellent choice
  • Loans of up to $40,000 are available
  • Email addresses are used for customer service


  • Unreasonable interest rates 

5. Best for Instant Cash Approval: CashUSA

In addition to CashUSA, a website that offers bad credit loans with guaranteed approvals, there are several more. You can borrow from $500 up to $10,000. All loan amounts are subject to change based on your location, credit score, or the criteria of the lender you choose to use. The free service is ideal for customers with low or no credit scores. If you fall into this category, their user-friendly website simplifies learning about and applying for a bad credit loan.

Even though CashUSA is not a lender, it was created in 2015 to connect potential borrowers with lenders around the country. Its loan providers, on the other hand, solely care about your ability to repay the money. A loan from tribal lenders can be obtained through this channel as well. This form of loan is uncommon because indigenous organizations finance it. As a result, their interest rates may be much higher than those of businesses that are not subject to statutory APR limits.

You may begin searching for a reliable, open, and customer-focused lending institution now that you know where to look for the most effective terms and conditions for safe borrowing and outstanding loan amounts. An active bank account, an active email address, and a working phone number are all examples of additional technical information.

Their customers don't pay a dime to use their services. Every step, from signing up to contacting customer service, is free. Rather than charging its clients, CashUSA receives a commission from the lenders it works with. This drawback allows lenders to define their terms for each loan. CashUSA has no say in any lenders' interest rates or fees. 

Although this platform cannot provide detailed information regarding the loan you wish to obtain, it will connect you with the top lenders who can do so. To work with them, lenders must have a lot of experience, and be open and honest.

Except for signatures, medical information, health insurance, or your passport number, CashUSA can gather information about you. CashUSA has the right to make any information on you available to the public for any reason. To keep your data private, it is best to inform the platform’s staff. You should contact CashUSA immediately after signing up and warn them not to divulge your personal information for any reason; this is the reason for most of the negative reviews of CashUSA.


  • Payday loan company CashUSA appears to be one of the country's oldest and best-known businesses
  • A trustworthy and secure platform for industry data encryption
  • A completely free financial services company
  • Loan applications can be submitted quickly with a minimal amount of paperwork
  • Resources for learning for nothing
  • Loans of up to $10,000 are available
  • Customer services can be provided via email or phone call


  • Some people with bad credit complain about the exorbitant fees and additional expenditures they have to pay

6. Best for Interest Rates: PersonalLoans

PersonalLoans is the most acceptable alternative for getting bad credit loans with guaranteed approvals if you don't have a perfect credit score. PersonalLoans is always available to assist you if you embark on the path to secure financing and loan applications. It’s a reliable, open, and customer-focused lending institution with the most eligible terms and conditions for safe borrowing and outstanding loan amounts.

You're probably wondering, "Why PersonalLoans?" You're not alone. Because millions of people with financial difficulties and low credit scores have praised this company, for this reason, PersonalLoans uses powerful data encryption to safeguard your private information.

Personal loans’ expert staff is always ready to provide a helping hand when no one else will, and they know how to provide the ideal conditions for each client in need. Keep reading to learn what PersonalLoans offers if you want to make a positive change in your life through a better financial status.

Payday loans A bad credit payday loan is a small short-term personal loan typically up to $1500 where lenders rely on your credit score and ability to repay the loan when evaluating your application.

Fees and Interest Rates

As a result, PersonalLoans has a wide range of trustworthy lenders, reasonable fees, and interest rates. Many different lenders are available through this company and third-party networks. As a result, some of those lenders may offer you competitive interest rates and fees on a particular loan. The interest rates and costs charged by the lenders on this lending platform might range from 5.99% to 35.99%, depending on the loan size, payback period, and other factors.

Quick Funding

Applying for a bad credit loan is an easy and fast process. If authorized, you might have the money in your bank account as soon as the next business day. When you're strapped for cash, you can't afford to wait.


  • One of the most popular loan websites in the United States
  • A large number of reputable financial institutions to choose from
  • On the official website, there are free educational materials
  • Fees and reasonable interest rates
  • From three to seventy-two months
  • Customers can reach out to us by email or phone


  • Getting a loan on the same day is a common complaint from customers

What to Look for in Loans for Those With Bad Credit

There were other elements to consider while determining which platforms you should try, but the following were among the most important because they help you get excellent service and avoid scammers.

Different Loan Types

Lenders from a wide range of specialties work for our chosen platforms. The interest rates, funding times, and repayment periods of each loan vary. In addition, these platforms make it easier to get a bad credit loan approved, with less of a hit on your finances or credit score.

Customer Experience and Satisfaction

This was an essential consideration while compiling our ranking, as a happy and loyal customer base is ‘the heart’ of every business's mission. Our reviewed services put a lot of effort into making their clients happy. 

Customers appreciate the platforms' user-friendly application process, as well as their educational resources and attentive customer support. Many norms of honesty and transparency are enforced in their daily operations, and they all adhere to federal laws and regulations.


When deciding on a brand, it's also crucial to consider the company's reputation. A basic company background check will provide essential information about the business that you're interested in working with. 

There is a good chance that if you look at their previous work, you'll discover whether or not they're meeting the needs of their customers. So we double-checked some important things. 


Data provided on the selected sites were encrypted to protect the privacy of borrowers interested in taking out personal loans for bad credit from that site. Aside from that, the site must not reveal critical information to a third-party lender throughout the referral process. As a result, the websites we've chosen ensure that your personal information remains safe.

Transaction Time

As soon as you're authorized for the bad credit loan, it's a fantastic idea if you can get your hands on the money right away. To ensure that the cash is transferred to you in the next 24 hours, we only propose a company that does it within this time frame. As a result, there will be no delays, and you will know exactly when your loan will arrive.

Credit score

The final factor we considered was the credit score, which is crucial if you're looking for a bad credit loan from a lender. Getting loans from these platforms is possible even if your credit score falls between 500 and 700. Getting a loan with a credit score of 500 or less is extremely difficult, and many lenders refuse to cooperate with anyone below that threshold.

Company’s Reputation

Since there are so many money lenders, many suspect this is vital information. Verify that the lender you're considering working with has been in business for a significant amount of time, is a registered corporation, and has a physical address and a website. 

Make sure to avoid scammer lenders who ask you to pay a charge before processing your loan. Approved and certified lenders do not charge fees and conduct business openly and honestly.

Pay Your Debt On-Time

Undoubtedly, interest rates on bad credit loans are astronomically high. They're designed to be repaid in small bursts, and the longer those bursts go, the greater the interest rate will be. 

In addition to the high-interest rates, the consequences of not making timely payments on these obligations are far more severe. As an outcome, we recommend you always assess your finances and have enough money to settle the bill before the due date. 

Even if a lender extends your due date, such an extension does not come at a low cost. It also contains steep penalties, which can sometimes be as much as two or three times what you owe.

Make Sure to Evaluate Your Credit Score

When you apply for a loan, the loan lender will check your credit report to see if you qualify. This is a standard procedure, but you should still perform your credit score evaluation. The best method to do this is to check your credit report online. And, just to be cautious, go over the material by hand to look for any errors. It's our recommendation because your credit score may be better than it appears on the report, enhancing your chances of receiving a cheaper interest rate.

Interest Rates

This is critical since you don't want to end up paying a high-interest rate on a credit card and regret it. Ensure you know the interest rate and compare it to other lenders' rates. You can apply for a pre-approved loan and receive all relevant information in a loan calculation, including the interest rate. This method lets you know exactly how much you owe without hurting your credit rating.

Other Charges

Some lenders may charge additional fees for prepayment, late payments, insufficient funds, and rejected checks. In contrast to specific lenders, others may grant you a further 10-15 days before charging you a late payment fee. Late fees may range from $15 to $30 depending on the loan's terms and the state it was obtained in.

Benefits of Using Online Loan Platforms for Bad Credit Cash Loans

No Credit Check

One of the significant advantages of a bad credit loan is that lenders will not look at your credit history. A lender may dismiss your credit score while examining your loan application because past postings may not have affected your loan application. 

A lender will assess whether you have steady employment or enough money to pay your current obligations. If you have ongoing work for a year, you will have a better chance of acceptance of your no credit check loans online with Monthly Payments.


Another benefit of using online lending tools to obtain a loan is that the money can be used for personal needs. You do not need to explain why you are taking out the loan. You can utilize your money to go shopping or for an emergency, such as a medical emergency.

Hassle-Free Application

Many reputable internet lenders provide speedy loans with a simple application process. All businesses on our list offer rapid lousy credit loans with straightforward applications. You must download the app or go to their website to approve your loan, sign up, and provide the necessary papers. You will be notified after your loan request has been processed.

No Collateral Required

Most loans are secured by real estate or other valuable assets that can be converted into cash rapidly. The absence of suitable collateral might concern those with bad credit. If you're only looking for loans for bad credit, you won't have to worry about this anymore. Aside from the fact that no collateral is required, lenders are more ready to make these types of loans to employed persons.

Less Documentation Needed

When dealing with a bank, the fact that you do not have a credit score can be an issue. As a result, even if you have sought and been approved for a loan, you must first meet specific criteria before obtaining your funds, such as providing proof of employment or income, and the entire process will take longer. Most lenders do not require verification for online loans for persons with bad credit. Everything is done online, making it convenient for people who need approval immediately. There is no lengthy paperwork to complete or attachments to create.

Alternatives to Bad Credit Loans

Even if you've gone through all of these steps and are still unable to acquire a loan, you still have a few other choices. These are only a few examples:

Leverage What You Already Have

Make a thorough financial assessment. To ensure your well-being, make a realistic plan for your money. Selling some of your assets is possible if the situation gets too dire.

Ask Your Employer

You can request a salary/cash advance if you are on good terms with your bad credit loan companies. This short-term loan will allow you to survive till you have another choice.

Borrow Money From a Family Member or Friend

Friends and relatives are always our final recourse when it comes to lending. You can borrow money from friends or family members during difficult times. However, don't take their generosity for granted. Consider the loan the same way you would a traditional money lender. If you do not reciprocate, you may lose a valuable relationship.

Choose a Bad Credit Loan Today

Return to Benzinga when you need information on bad credit loans. There’s quite a lot of information that you can use to change your financial fortunes and improve your credit, set up investments, learn about insurance and much more. If your credit is subpar, there are options that you can take advantage of today.

Frequently Asked Questions


How about if I'm divorcing? Is it going to impact my credit score?


If you have any joint accounts with your ex-spouse, that is the only way this might impact your credit score. This would imply that you have common ownership of the funds. Therefore, if they make erratic payments to that account, you could also be liable and risk deducting points from your credit report. 

Asking to change the account from a joint to an individual account would help you prevent this. You might also pay off any debt on your joint account to prevent your credit score from being negatively impacted.


What kind of loan can I get the easiest if my credit is bad?


We must confess that the chances of getting a loan if you have bad credit are slim. We cannot promise that you will be able to receive a loan with bad credit. 

If your credit score is low, you will most likely be able to obtain a loan only if you put up collateral as security. There are numerous other circumstances where a personal loan can be obtained through a reputable lending platform, such as some of the previously listed ones. 


How can I obtain a loan without having my credit card checked?


You can still get a loan, no matter how bad your credit is. However, because of your poor credit card, you may be unable to carry out part of your plans. 

Following our recommendations won’t run into this problem because all platforms guarantee you’ll get your loan. Some of your things may be taken if you do not repay the debt. As a result, please behave yourself. Regardless of your credit card scores, you will not be affected by the approval of your loan. There is no impact on your ability to receive the loan, even if you perform a background check on a credit card.


Is the exchanged information secured?


You must be assured that your personal information is safe and secure because this entire money-lending process takes place online. Imagine that your private information has been made public and is now accessible to everybody. 

The platforms we’ve covered ensure data security and use cutting-edge encryption methods. Every platform uses the SSL encryption protocol, which stands for Secure Socket Layer. Everything you say and do with the lender is kept strictly confidential. Hackers are unable to breach it.


Are bad credit loans affordable?


There are times when negative credit loans are not possible. People with poor credit are the target audience of these loans for bad credit. Financial institutions run a significant risk by making loans to people like these. For this reason, their customers are subjected to exorbitant interest rates and additional (sometimes hidden) costs. 

It is more difficult to repay a loan with poor credit than with good credit. Because they don’t demand collateral and don’t require a lengthy application process, these loans are ideal for persons with poor credit. As a result, high-interest rates have little impact on these borrowers in some respects. 

Our recommended websites also provide clear conditions on how much you owe and what you must do to repay the loan. With these terms and conditions, you can choose the payback schedule that works best for you.


Are bad credit loans a good solution in case of an emergency?


Every customer has unique circumstances, and we know this well after being direct lenders of bad credit loans for many years. That’s why bad credit loans might be a great option in some situations. You may be approved for an emergency loan even if you’ve been turned down elsewhere because they are direct lenders for bad credit loans; therefore, they offer greater flexibility in who we can lend to. 

Additionally, because the platforms perform a ‘soft search’ rather than a ‘hard search,’ their eligibility checks do not affect your credit history, allowing you to do a comparison at your leisure. Bad credit loans with guaranteed approvals are the answer whether you’re trying to repair your automobile or house or consolidate a bunch of bills into a single month.


How can I improve my credit score?


Maintaining a good credit report and credit score requires good financial practices. Keep track of your balance sheet. Also, ensure that your calendar is up to date and that there are no missed payments. 

You must pay all of your monthly obligations on time. It is preferable to have a balanced credit report with consistent credit scores. Lenders, in particular, may raise an eyebrow if there are too many variations in a short time. 

You must also make timely payments on any remaining installments. Failure to do so may hurt your credit score. You can also seek advice from friends and relatives if you have difficulty controlling your credit score.

Concluding - Best Bad Credit Loans Reviewed: Ranked By Bad Credit Loan Rates 

You might have found our listicle useful. Taking out a bad credit loan can give you some breathing room and time to get back on your feet financially. 

Fortunately, even if your credit scores are less-than-perfect, you can still get a bad credit loan with guaranteed approval. The online payday loans platforms we've listed and examined make it possible to obtain a bad credit loan. 

Following and double-checking their supply guidelines is necessary for the best loan decision. You won't be disappointed with these options because they all give excellent customer service and the financial solutions their customers require. So please feel free to browse their websites and evaluate the quality of their services!

While taking an almost instant reply on your loan request, the lenders don't perform a traditional, hard credit check, making them a good source of emergency loans.