Get Up to $40,000 in Bad Credit Loans

Requesting a loan has never been so easy.

Won’t impact your credit score

Best Bad Credit Loans Rates

Ready to take the first step? No matter what your goal is, we’re here to help. The main benefits of taking out a quick loan is that you’ll find that you get to choose what to do with the money and pay off whatever fees that need to be payed. A quick loan will cover the main costs of your problem along with any additional costs.

How Can A Quick Loan Help You?

A quick loan can cover your main costs like living expenses for the time being. This is great if you need to take time off, or solve a financial issue to help you get back on your feet!

Bad Credit Loans

If you need an influx of cash and your credit isn’t so great, there’s hope. With so many loan options to choose from in today’s financial market, it’s still possible to get a personal loan even with bad credit.

What Is a Bad Credit Personal Loans?

A bad credit personal loan is a loan offered to individuals with less than stellar credit scores. It’s a fixed rate loan which is unsecured (not backed by collateral). Lenders normally use other criteria to determine your eligibility for these types of loans, such as your debt-to-income ratio and credit score.

What Is s Bad Credit Score?

Generally speaking, a credit score between 300-629 on the FICO scale is not ideal. However, having a credit score in this range won’t automatically disqualify you from getting a personal loan. All it will do is lower your chance of getting approved, and prevent you from getting the best interest rate on your loan.

How Do Bad Credit Loans Work?

A bad credit loan can be used for any purpose – there’s no restrictions on what you can purchase with the funds. Many people use them to cover large unforeseen expenses, or even consolidate their debts. Keep in mind that some lenders will take into account what you’re using it for when making their decision on your application.

Bad credit loans are repaid in installments – usually monthly – over a period of 1 to 5 years.

Bad credit personal loans often come with high interest rates, ranging from 20 to 30% or more.

A bad credit loan can help rebuild your credit. Since the lender will report your payment activity to credit bureaus, you can repair damaged credit scores if you make your payments on time and never miss a single one.

Shopping For A Bad Credit Loans? Here’s What You Need To Know

Special Requirements

Some borrowers have specific requirements for you to qualify for a bad credit loan. They will normally take into account your credit report and debt-to-income ratio, but can also have a minimum credit score requirement. That means you’ll need to hit that target score or above to be approved for a loan.

Annual Percentage Rate

Bad credit loans have high interest rates on average, but it’s important to consider another figure: the annual percentage rate (or APR). This is similar to an interest rate, but includes any fees a lender may charge you. In general, an affordable loan has an APR below 36%.

Monthly Payments

Make sure that you can afford the monthly payments of the loan. Plan your budget and use a personal loan calculator to see how the numbers look. If you’re overextended, consider an alternative or hold off on getting the loan. Most lenders will let you calculate this before you apply.


The average term length for a personal loan falls somewhere between 2 and 7 years. In many cases, bad credit lenders will offer you 3 to 5 year repayment terms. Longer terms generally come with lower interest rates.

How To Get A Personal Loan With Bad Credit

  • Shop around – some lenders specialize in people with bad credit.
  • Check your credit report – a higher score will increase your chances of getting a better rate and terms.
  • Sort out your budget – make sure you can afford the monthly payments of the loan you’re applying for.
  • Pre-qualify online – this will allow you to see how much you could potentially get, at what rate and what the repayment terms are. This will involve a soft credit check which will not affect your credit score.
  • Look into a co-sign – this can improve your chances of getting a lower rate.
  • Gather your documents ahead of time – this will streamline the process and allow you to get it done quickly.

How To Manage Your Personal Loan

Remember that a personal loan isn’t free money – you’ll have to pay it back within a certain time period.

Ensuring that you can pay the monthly installments is crucial. Make a budget and stick to it. If you need to, set up automatic payments to ensure you don’t make a mistake. In some cases, you might get a discounted rate from the lender if you set up auto-pay.

It’s important to keep in touch with your lender – let them know if you run into trouble so you can work on a solution as soon as possible. This could mean losing or changing your job, an unforeseen large expense, and so on. Some lenders might offer a temporary deferral of your payments or waive certain fees until your situation improves.

In the end, it’s all about doing your homework before you apply for a bad credit loan. With these tips, you’re well on your way to getting the right loan for your needs.


Frequently Asked Questions

How do i know if i'm approved for a bad credit loan?

You will be notified as soon as your application is approved. One of our partners will call you and e-mail you to inform you that your application was approved. Loans SOS strives to provide its customers with the fastest approval times in the country.

How can i speed up the application process?

After you submit your application or callback request you might be asked to submit some documents. This will depend on the product you are interested in. If such a request is made you should strive to get the required documents in as soon as possible so that the agent looking after your application can proceed with the approval process as quickly as possible. You will only be asked to provide documents that are necessary or required by law to complete your file. Loans SOS protects your privacy.

What happens after I apply?

Shortly after you submit your application or callback request one of our partners will be contacting you to discuss the services you are looking for and the options available to you. The agent assigned to your application is a fully trained professional ready to assist you with all of your requirements. Loans SOS will not begin to work on your file before first directly speaking to you about your financial needs.

I'm a recent immigrant. can i still apply?

Yes. Even if you have no credit history we will be able to pair you with a great financial product at a great rate.

Will you check my credit score after i apply?

No. We will not and cannot check your credit score after you submit an online application. You must submit consent before a Loans SOS partner can pull your credit score.

Bad Credit Loan Available Locations

Alabama, Alaska, California, Colorado, Delaware, District of Columbia, Florida, Hawaii, Idaho, illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Missisippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Caroline, South Dakota, Tennessee, Texac, Utah, Virginia, Washington, Wisconsin, Wyoming.

More Articles and Resources

Is A Short Term Business Loan Right For Your Business

Is A Short Term Business Loan Right For Your Business

Picture these scenarios: You run a busy clothing store and your only cash register just broke. Or the warm weather is coming up, and you need to hire servers for the patio. But you don’t have the cash to fix the register or hire the workers. In both cases, a...

read more
What To Do When Your Loan Payments Are Too Much To Handle

What To Do When Your Loan Payments Are Too Much To Handle

Here you can learn what to do when your loan payments are too much to handle. Shopping around for a car is fun and exciting especially when you have a specific make and model in mind. However if you are searching for a popular car like a Honda, Mazda or Ford etc. –...

read more
Considering A Car Loan? Some Things You Should Consider

Considering A Car Loan? Some Things You Should Consider

When you are shopping around for a car, it is a no brainer to comparison shop for the best deals in town. Considering A Car Loan? Some Things You Should Consider. You will also look at popular online forums to learn about the reviews of various car makes and models....

read more