Not being able to get a loan because of your credit history can be nerve-wracking. That's why you can now get bad credit loans with guaranteed approvals with the help of many online services. These types of loans are specifically designed to help people with poor credit scores - the ones who need affordable loans the most get a chance to work on their financial problems without too much trouble.
If you've already tried to get a loan from a conventional bank and gotten rejected, you'll definitely appreciate the convenience of these loans. They have very few requirements but might offer you the chance to pick your lender from several loan proposals.
To skip the waiting lines at the bank, take a look at the bad credit loan providers we reviewed.
5 Best Marketplace for Bad Credit Loans: Reviews
- MoneyMutual - Overall best service offering bad credit loans guaranteed approval
- BadCreditLoans - Reputed small payday loans online no credit check
- RadCred - Get quick emergency cash loans for bad credit
- CashUSA - Direct lenders for fast cash loans online same day deposit
- PersonalLoans - Easy approval best personal loans for bad credit
#1. MoneyMutual - Overall best service offering bad credit loans guaranteed approval
The fast pace of life can throw many challenges at you, which is why MoneyMutual is here to help you get a loan 'At the speed of life.' MoneyMutual is a highly rated lending network that's been helping Americans get the funding they need without asking too many questions about their credit history. It is one of the oldest lending services in America, successfully operating in the market.
When it comes to chances of approval, MoneyMutual is your best option. The company collaborates with a wide range of reputable lenders, so the service is very unlikely to disappoint your expectations.
Although MoneyMutual advises its users to take all the time they need to review the given offers, the service does nothing but wait once your application is in. After finishing the application form, MoneyMutual immediately verifies it. The verification process is completed within minutes, and your application is then shared with the available lenders in the company's network. That way, depending on your qualifications, you may get the first few loan offers pretty quickly.
MoneyMutual's services are also very straightforward to use. Once you enter the website, you immediately see the 'Get started' button, directing you straight to the application form.
Many available resources will help you learn more about the different types of loans the service offers, such as payday and bad credit loans. There's even a 'Frequently Asked Questions’ section that'll help you answer some more general questions, but if anything more specific is bothering you, you can also contact customer support.
- A user-friendly website that's very simple to use and navigate across
- Payday and bad credit loans for people with all types of credit
- An excellent source of financial information
- A simple application process that you can complete in less than 5 minutes
- Trusted by 2 million customers from all across the US
- The interest rates and other fees depend on the lender's policies
Why do we recommend it?
MoneyMutual is undoubtedly one of the first lending services you must visit if you're looking for the best odds for quick loan approval. The company is very flexible about working with applicants regardless of their credit score, so if you can provide a verifiable source of income along with some other requirements, you can quickly get a loan using its services. MoneyMutual is free of charge for all borrowers, so we encourage you to explore your options on its platform.
#2. BadCreditLoans - Reputed small payday loans online no credit check
There's not much need for us to explain the work of BadCreditLoans - they're here to provide you with bad credit loans. As the company name suggests, the service is focused on helping people who find themselves in challenging financial situations.
We couldn't find much information about the company's history, but there's a ton of info about how they operate their business. On its website, you can find all the necessary information to understand how they run the lending service and how they manage to deliver such impeccable odds for approval, despite the poor credit scores of most of their clients.
BadCreditLoans is not a direct lender. The service is a loan marketplace, allowing you to get connected with several lenders from its vast network. As soon as you submit your application, the service forwards it to all the interested parties.
Depending on your eligibility and the loan you're requesting, you can get several loan offers from various lenders. That way, lenders are putten into the position of competing to provide you with a loan, which is how you can get some pretty competitive rates for your bad credit loan.
Using the platform, you can request loans between $500 and $10,000. For a bad credit loan, that's a pretty generous amount. Although the company doesn't dictate the final terms and conditions, BadCreditLoans works more towards short-term loans, offering terms of up to 3 years maximum. If you need something more than that, you can try to negotiate a longer loan term with individual lenders.
- 100% free service for all borrowers looking for a bad credit loan
- An extensive lending network topped up with some third-party services for even better odds
- Its customer support team is available 24 hours a day, 7 days a week
- Straightforward access to bad credit loans by completing only three simple steps
- The company informs all users about the risks of online scams
- Some of the company's lending partners may offer you significantly lower loan amounts
Why do we recommend it?
If you're interested in making your search for a bad credit loan a lot easier, you should definitely contact BadCreditLoans’ team. The service did an incredible job at simplifying the entire application process, minimizing the time required for you to get an online loan.
After you send an application, they'll do everything in their power to help you get fair loan offers and as many offers as possible so that you can compare different rates, terms, and conditions to get the best loan for your situation.
#3. RadCred - Get quick emergency cash loans for bad credit
RadCred is one of the online lending networks that takes great pride in the speed of its service. The company will do everything it can to help you sort out your financial problems as quickly as possible. They promise immediate loan application processing, followed by almost instant deposits from their lending partners, and according to customers, the company never fails to deliver.
As soon as you enter the site, you'll be surprised by the reduced application form that comprises only 5 fields for you to fill. Once you're finished, you can expect to get rapid loan offers, even only a couple of minutes after applying.
You can see that RadCred understands the urgency of lending when you take a look at the application form. All that's required from the borrowers to provide is the loan amount, their zip code, last 4 SSN digits, email address, and date of birth. That way, you now apply for a bad credit loan without even signing your name on the application.
Despite the required information being incredibly limited, RadCred still dedicates a lot of time and effort to guarantee your data's safety. The company empowers a 2048 BIT RSA encryption algorithm and runs daily scans using TrustedSite, to pick up any faulty behavior right on time. That way, your data will be kept private and encrypted, even in case of an intrusion.
What's unique about RadCred is that it allows applicants to add a co-signer to their application. With conditions and rates for bad credit loans sometimes being very unfair to borrowers, adding a co-signer with a better credit score can significantly improve your chances of getting a better deal.
- A fast and effortless application form that only requires five pieces of information
- A safely encrypted website guarantees your security while applying for an online loan
- Quick processing from the service, quick response from its lenders
- Fast fund transfers directly to your bank account
- No obligation fees or any other charges for using RadCred
- No chance to contact customer support via phone; only an email contact is available
Why do we recommend it?
RadCred is a great place where you can quickly send a loan application but also get an immediate response. The service addresses all loan applications as soon as possible, although they get quite a lot. That's why RadCred uses the latest technology for processing data and finding potential lending matches for your needs. They also strive to guarantee your safety on the platform, but once you exit its website to contact individual lenders, you'll need to be more careful.
#4. CashUSA - Direct lenders for fast cash loans online same day deposit
CashUSA is yet another popular lending portal that successfully connects borrowers and lenders. Although most users turn to CashUSA for the fair short-term loans it offers, the service allows you to apply for personal loans of up to $10,000. So if you're interested in bad credit loans or cash advances, CashUSA is the service you need.
To give you more options to consider, CashUSA features a vast lending network. It collaborates with a diversified range of accredited lenders, including both tribal and state lenders. Having a couple of extra options can be great, but be careful with tribal lenders, as they often charge much higher rates.
One of the most popular features of CashUSA, despite its bad credit loans, is the educational center. A lot of users come to the platform to get some quick info about personal finance and managing debt. The company insists on giving its clients a better chance to understand what they're getting into to minimize the number of regrets of any users who've applied for its service. That's why we strongly recommend you check out its educational center, even if you don't plan to apply for a loan using CashUSA.
When it comes to the application form, it is probably quite more extensive than the ones we've already mentioned. Still, it shouldn't be a reason for you to disregard CashUSA. The application form can be completed online within a couple of minutes. There are several portions of data for you to fill in, including some personal info, contact data, and employment status that'll help the lenders make a faster decision about whether they can offer you a loan without contacting you about any additional requirements they have.
- An admirable network of lending partners significantly increases your chances of approval
- You can also apply for a payday loan using the platform
- A rich library of educational resources to help you make a well-informed decision
- Basic eligibility criteria that almost every employed adult checks off
- A safe lending platform thanks to the latest standards for security and encryption
- To apply for a loan with CashUSA, you'll need to provide proof of employment with a minimum of 90 days of uninterrupted employment status
Why do we recommend it?
CashUSA is all about user convenience. The company makes incredible efforts to help its clients get fast and fair loan offers without dealing with too much work during the application process. Every part of the procedure takes place online, so there's no room for waiting in lines or any inconveniences.
#5. PersonalLoans - Easy approval best personal loans for bad credit
We're concluding our list of the best services for bad credit loans with guaranteed approvals with PersonalLoans. PersonalLoans is another experienced lending service that's been doing business in the industry for almost 20 years. With its experience, the company carried along a lot of reputable lenders, delivering impeccable odds for approval for all of its customers.
As a result, PersonalLoans has an admirable network of satisfied customers who recommend its services to everyone looking for an online loan with bad credit. The service is simple and easy to use, and on top of that - free of charge, so you only need to sacrifice a couple of minutes of your time to see if you can get a fair offer on PersonalLoans' platform.
As a lending service, PersonalLoans works with bad credit loans of up to $35,000. The maximum loan amount is very attractive, so be careful not to get tempted to get caught up in unnecessary debt.
You'll need to have higher monthly earnings without an active bankruptcy. The company has some more strict eligibility criteria to provide you with such high loans. They'll also ask if you have any lines of credit that you're more than 60 days late.
To help you start the online application with better confidence, PersonalLoans takes professional care of your security on its platform. They safeguard your data using advanced encryption technology, giving users peace of mind knowing they have nothing to worry about.
Although PersonalLoans doesn't decide about your loan's end terms and conditions, they limit the amount of APR a lender can charge you. The maximum APR is 35.99%, and the longest loan term is 72 months.
- Peer-to-peer loans and secured personal loans are available on the platform
- An admirable maximum loan amount that goes up to $35,000
- Some of the lenders from the network are known for the competitive rates they offer
- Fast fund transfers
- The Better Business Bureau does not accredit PersonalLoans as a company
Why do we recommend it?
Overall, PersonalLoans is a great lending service with a lot to offer. Starting from the incredibly high loan amounts to the reduced application form, the company insists on meeting all the requirements of bad credit borrowers. It features a vast network of lenders, with a couple of extra third-party alternatives to guarantee you'll get approval, regardless of your credit.
How Did We Make the List of the Best Lenders for Bad Credit Loans?
Getting a loan with bad credit can be very challenging, especially if you've already faced rejection from the bank. Many online services are willing to help you get a loan without extensive inspections of your credit history. Some are only interested in using your vulnerability to get you to sign some tedious deals. That's why we insisted on making extensive overviews of some of the most reputable lending services on the online market.
We carefully picked out the top candidates and then did a comprehensive background check to ensure we introduced you to the absolute best choices. If you're interested in how we made the list of the best bad credit loan providers, here are the criteria we used.
- Chances for approval
We understand that dealing with financial problems can be more than what many people can take, so we wanted to give you a guarantee that you'll be able to sort out your problems after reading this article. That's why we insisted on finding the bad credit lenders with the highest chances of approval.
While looking for the highest success ratios of different lending services, we realized that contacting lending networks instead of going to individual lenders is not only more convenient but also a lot more efficient.
Lending networks with a large number of lending partners can help you get the right lender, even when you have little hope. That's why we decided to review the top-rated lending networks with admirable ranges of available lenders.
- Service speed
A 100% chance of approval might be useless if you get the loan offer a year after applying for it. That's why we also considered service speed as another crucial factor in our search.
But let's get things clear: there's no way you can get an immediate deposit shortly after submitting your application. With your application sent, the lending network needs to verify all the data you've entered, then share it with its lending partners. Individual lenders then need to go through your application and consider many aspects that help them make a decision. And that takes time.
So although we cannot promise you that you'll get a same-day deposit, we're offering quick approvals, followed by the fastest fund transfers, which often take no longer than a business day.
- Service cost
Another thing we were able to get for you are lending services at no cost. While many lending services rush to charge their fees to people who are already in a bad financial situation, all the services featured below are free of charge for the borrower. But that doesn't make them any less reliable.
Instead of getting their money from borrowers, these lending networks charge the lenders when they want to contact you and make you an offer. That's a pretty fair approach since the lender will inevitably charge you their fee for lending the money.
With excellent services that are free of cost, nothing can stop you from sending several loan applications to get as many offers as possible.
Bad Credit Loans Guaranteed Approval FAQs:
Q1. What's the interest rate I can get from a bad credit loan?
The interest rate you're presented with mostly depends on the policy of the individual lender. There's no way to predict what you'll get, which is why we always advise borrowers to send several applications and see what interest rates they're offered.
There is some general range into which most bad credit loans fall. According to most financial institutions, that range is between 5.99% and 35.99%.
Some parts of the United States have specific laws limiting the maximum range of such online loans, but not all of them. Therefore, don't be surprised if you get a loan offer with an interest rate higher than 35.99%. However, don't accept it either, as it is definitely not a fair offer, regardless of the situation that you're in.
Q2. Will bad credit loan lenders perform a credit check?
A credit check is another thing that mostly depends on the lender's policy. Although we are discussing bad credit loans, some providers may still want to check on your credit before making you an offer.
The lending networks we reviewed above won't perform a credit check. Instead, they focus their selection on other things, such as the height of your monthly income. If you make enough money to be able to repay your debt on time, they have no problem with your credit history whatsoever. Still, that cannot be said for individual lenders, who may perform a soft or hard credit inquiry.
Q3. How to get a bad credit loan with guaranteed approval?
Applying for a bad credit loan online is very simple. Most loan companies offering such services have significantly reduced the application procedure, allowing you to complete it within less than 5 minutes. To get a bad credit loan with guaranteed approval, you'll need to:
- Fill out an application - Online applications are often short and straightforward, and you can submit them anytime. They usually require basic information and details about your monthly income, which shouldn't be too hard for you to provide.
- Choosing an offer - After applying, the loan offers should start arriving. With some luck, you can get several loan offers, which require your ultimate attention. Review every little detail of each offer before you make the final decision.
- Get funding - After agreeing to a loan offer, your lender should deposit the funds. Most online lenders are very fast with fund transfers and are usually able to deposit the funds directly to your bank account within one business day.
Conclusion: Online loans for bad credit with guaranteed approval
Getting bad credit loans can be your best shot at dealing with the financial problems that are bothering you. Lenders for bad credit loans won't mind your credit history and may help you get a better future. So if you're looking to work around the extensive waiting lines and times that conventional banks face you, a bad credit loan will come as an excellent alternative.
With these online loans, you won't have to bother with paperwork, waiting at the bank, and anticipating the loan decision. The entire procedure takes place online, so you can fill out an application within 5 minutes and get an offer just as fast.
Most of these lenders will immediately transfer the funds to your account if all goes well. Does it sound good? Then take another look at the platforms we reviewed above and get your chance for an online bad credit loan with some of the more reputable providers.