Guaranteed things in life are rare, so you should grab them when you can. If you have bad credit but still need a loan, something with guaranteed approval is just what you need.
By “secured” approval we mean lenders who have flexible credit requirements. You may notice as you read that some of these lenders are better known than others. However, everyone has their reasons for being on our list.
For those with bad credit history, you can try one of the best bad credit loans from this guide. Before we dig in, however, we want to address the biggest benefit of using one of these lenders.
Even if your credit is poor, this may be the way to start your credit repair. Taking out a loan will add to your credit history.
Likewise, you will need to understand how a process like this works. None of the companies we recommend will ever be a scam or fraudulent. However, they can charge higher interest rates than other lenders.
Throughout this guide, we will discuss the features, advantages, and disadvantages of each lending network. At the end, you’ll have a powerful set of recommendations, along with the know-how to choose between them. Now let’s take a look at our full list of the most forgiving lenders with bad credit.
The best bad credit loan companies include:
While PersonalLoans is free to register and apply, it’s not the most well-known on our list. Among our lender recommendations, it is perhaps the one with the fewest consumer reviews.
More recent in the world of credit, which it does not have in reputation, it makes up for in advantages. With a quick and easy application process, you can get your loan money out within hours. The platform boasts that you can get direct deposit the next day after your loan is approved.
The best part is that they work with users who have damaged or bad credit. Whatever the reason, the company understands that everyone deserves another chance. This is a great place to start on the road to credit repair and a better credit score.
- Free registration and application
- Quick, short and easy application process
- The secure online form guarantees the security of your information
- Their network of lenders is large and diverse
- Works with poor credit users
Rapid1k.com – Ideal for quick deposits
When you have bad credit, you don’t want to make it worse by adding multiple credit inquiries to your history. It is better to choose a network and send a single application. Alternatively, some users choose to choose loan companies that simply perform a smooth credit check.
Instead of trying to get approval from countless companies, lenders might be pre-qualified to contact you. With Rapid1k.com, they bring you a network of lenders ready to approve you.
As with a few other loan companies, you can view your funds as quickly as the next business day with Rapid1k.com. Reliable and efficient, they make it easier to apply for and obtain a bad credit loan. Everyone’s situation is different, which is why you deserve a network of tailor-made lenders to approve you.
While they can help with a pin, the network offers a loan limit of up to $ 2,500. If you are looking for a larger sum at a time, you might want to keep reading. It’s free and easy to apply on this platform, however.
- Free and secure application
- Short and easy to fill out application form
- A loan approval decision can be made in minutes
- Direct deposit can be reached the next business day
- Loan limit up to $ 2,500
BadCreditLoans.com – Best bad credit loan company
One company that has been in the game for over 20 years is BadCreditLoans.com. While they might not have the best APR per loan, which bad credit loan company does? It also depends a lot on your credit. 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 and 36 months to pay off your loan. Overall a great loan company to turn to.
Plus, they have a streamlined 3-step application process. Once you have applied for the loan, you can review the offers that the lenders have for you. You will spend time going through all the offers and then sign a contract that fits your needs! Money is deposited after 24 hours.
- With just one app, you’re connected to their entire network of lenders
- Direct deposit can reach your bank account in less than 24 hours
- Very flexible credit requirements
- The company has been in the loan business for over 2 decades
- They offer an easy 3-step application process
- Loan limit up to $ 5,000
Zippy loan – Best with the guarantee 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 pay off a loan application, which is a huge plus for you. Although the rates can be high, they have a much easier acceptance rate than many other lenders.
Plus, they have a higher loan limit if you need more money. Their loans range from $ 1,500 to $ 20,000. If you are looking for a smaller sum, you might want to check out one of the other loan companies in our guide.
Overall, ZippyLoan is great for those who like flexibility. With an option to choose your payment date and different offers available, they try to meet every need. They also have next day and even same day deposit options depending on how quickly you are approved.
One important factor that we have noticed that some of the other lenders do not have is their section on resources. So that you don’t get caught off guard or left without information, they have educational resources online. We appreciate this extra touch to make their users feel more informed and confident about their lending decision.
- No minimum credit score to apply and get approval
- If you can add a co-borrower or include a guarantee, you can lower your APR
- Receive funds quickly, in as little as 24 hours
- Soft credit check to pre-qualify, but they report your payments to all three credit bureaus
- The loan ranges from $ 1,500 to $ 20,000
Now10k.com – Ideal for limited credit history
As the name suggests, Now10k.com allows you to quickly get up to $ 10,000. The company boasts that it only needs a few minutes and your banking information. While it might sound a bit fishy, they say it to reassure you that your credit doesn’t have to be involved.
When you are approved, your payments can be reflected on your credit history. To be approved, however, they don’t need credit information. If you have poor credit but need a loan quickly, this is a solid option to choose.
They also have an expedited online loan process which makes approval easier. Overall, Now10k.com is a viable choice for those who need flexible approval.
Since everything is done online, the application process is straightforward, easy, and only takes a few minutes. Then the funds can be deposited into your bank account the next business day.
- Quick approval decisions even for bad credit
- Access a network of lenders across the country to easily find a match
- Money can arrive in your bank account the next business day after loan approval
- The online form to apply is quick and easy
- Loan limit up to $ 10,000, as the name suggests
Lendafy.app – Ideal for quick approval
Lendafy offers more than just options for those with poor credit. It is an app that works with all types of credit to make it fair for everyone. After you apply, they boast that you can get approved for a loan in just 2 minutes.
Unfortunately, the app does not offer service in Arizona, Connecticut, Georgia, Massachusetts, Maryland, New York, Pennsylvania, Vermont, or West Virginia. It’s still a huge network across the country, however.
The company offers loans of up to $ 10,000, which makes it an attractive option for many users. Alternatively, for those who don’t need a lot, their minimum loan starts at $ 100. If you have a job and meet their minimum income requirement, getting a loan with Lendafy is easy.
- Can get approval decision within 2 minutes of request
- Flexible credit requirements to make it easier for people with low credit
- Loans start at $ 100 for those who don’t need to borrow thousands
- Direct deposit can hit the business day after loan approval
- Loan limit up to $ 10,000 l
Upstart.com – Ideal for higher sum loans
Finally, we have Upstart, one of the best known names in the industry. Although they haven’t been in the game for a long time, they’ve certainly built an exemplary reputation for themselves. Their loan limits start at $ 1,000, going up to $ 50,000.
Unlike other loan companies, they also have longer payment terms. Repay your loan in 3 or 5 years instead of having to struggle to repay it in less than 24 months. In addition, there is no minimum annual income as required by many other lenders.
However, this might not be the best option if you have a certain credit score. A minimum credit score of 600 is preferable. For users with damaged credit who still meet this minimum, Upstart could be the answer.
Overall, the business is a great option for someone with bad credit to consider. With such a wide range of loans, Upstart could help you completely change your financial situation. Like most of the other lenders on our list, you can also get cash in as little as 24 hours with their next day deposit.
- Payment term of 3 or 5 years, facilitating repayment over time
- Can receive cash in as little as 24 hours with Next Day Direct Deposit
- There is no required minimum annual income specified anywhere
- A minimum credit score of 600 is preferred for this lender
- However, loan limit of $ 1,000 to $ 50,000
Now that we have shown you the best bad credit loans, we hope you can see the sheer opportunity that is available to you. Even with a damaged credit history, you can straighten your credit with one of these forgiving credit lenders.