Getting approved for a personal loan when you have a terrible or poor credit rating can be challenging. As with most financial products, to take out a personal loan, you will have to submit your background information, bank statements, and income details. Lenders prefer to approve the loan request of those with a good credit score and a track record of bill payments. They also prefer to work with those who honor loan terms and conditions.
If you have a poor credit rating, there are still a few lenders that will accommodate your loan application. However, the application process can be complicated if you don’t work with a loan broker. In other words, a loan broker can help you take personal loans from direct lenders for emergency expenses, including medical bills, refinancing high-interest debt, or auto repairs.
To help you make an informed decision in your choice of a broker, we have researched the best 10 personal loans for bad credit with guaranteed approval. The top 4 among these 10 brokers are:
- WeLoans – Connecting direct lenders for bad credit personal loans
- US Bad Credit Loans – Get best personal loan for bad credit
- USInstallmentLoans – Best approved personal loans repaid in installments
- CocoLoan – Personal loans for bad credit with guaranteed approval
#1.Weloans – Best payday same day loans for bad credit
WeLoans is the world’s leading online payday loan broker that you can turn to, for cash advances with same day approval. WeLoans has helped millions of people seeking emergency funds to pay off upcoming expenses. Whether you have an emergency medical bill on your hands or you want to travel abroad on a vacation, WeLoans can link you up with a lender that will offer you the required funds. To get started, simply fill out a loan form, which requires your personal and financial data. It takes around 3 minutes to complete the process.
After filling the form, WeLoans will then connect you with a lender that will offer you the requested amount, so you get an opportunity to compare different lenders before settling for a loan offer. Make sure you review the loan terms and conditions very well before signing the dotted lines. With WeLoans, you can take out up to $35,000 provided you have a steady source of income.
- The company uses advanced technology to protect borrowers’ personal and financial information.
- WeLoans services are quick, user-friendly, and easy to access.
- The whole activities on the platform are transparent.
- The WeLoans team members are experienced and highly competent
- This service is not available in all the 50 states in the US.
- WeLoans doesn’t offer direct loans.
Bad Credit Loans – Best bad credit loans with no credit check
US Bad Credit Loans is the perfect loan broker to help you access no credit check loans with guaranteed approval. The broker offers up to USD5,000 for those who need funds to pay off upcoming expenses, including apartment renovation, medical emergency bills, and auto repairs.
The application process is simple and straightforward. All you need to do is to complete an online application form, compare different financial products presented before you, and then sign the dotted lines. If your application gets approved, the team at US Bad Credit Loans will credit your bank account within the same day.
- No origination or administrative fee
- USBadCreditLoans guaranteed fast loan approvals
- You have a wide range of loan products to choose from
- Hassle-free application process
- Not available in some states
- USBadCreditLoans does not offer direct payment to creditors for debt consolidation loans
#3. US Installment Loans – Best installment loans for bad credit
If you need a fast cash loan to consolidate your credit card debt, look no further than USInstallmentLoans. This company is not a direct lender, but partners with a wide range of credible online lenders that will offer you bad credit loans with instant approval. Whether you need installment loans, personal loans, or same day emergency loans, you can count on USInstallmentLoans to help you facilitate the loan application process.
To get started, you must satisfy these eligibility requirements:
- You must be at least 18 years old as of the time of loan application.
- You must be a resident in the US.
- You must have a steady source of income.
- You must possess a valid government-issued ID.
- You must have an active bank account.
Why choose US Installment Loans for fast cash?
Need an urgent loan to buy that dream car or purchase that choice property? Apply today and USInstallmentLoans will help you facilitate the process to get the funds within minutes.
One of the first things that make USInstallmentLoans stand out from other loan brokers is that borrowers enjoy convenience and ease-of-use. The broker will match you with a wide range of lenders that will offer you competitive interest rates and flexible repayment terms.
You will also enjoy peace of mind knowing that your financial details will be kept confidential and safe. Whether you need $100 or $5,000 to pay off upcoming bills, USInstallmentLoans has got you covered.
- USInstallmentLoans partners with credible lenders that offer instant approval
- You can check your rate without affecting your credit score
- No late repayment fee
- USInstallmentLoans doesn’t charge origination fees
- USInstallmentLoans is not available in all the states
- You must be at least 18 years old to use this broker
#4. CocoLoan – Quick and emergency loans for bad credit
CocoLoan is the world’s leading online loan broker that connects borrowers with lenders. They offer quick and emergency loans for bad credit with no credit check and instant approval. CocoLoans partners with over 60 credible direct lenders, which means you will be presented with different loan offers to choose the best possible deals.
As one of the leading online loan brokers on the market, CocoLoans offers other loan types, including payday loans, installment loans, cash advance, and title loans.
Obtaining a personal loan is very simple and straightforward. All you need to do is to complete the online loan application form, compare the different offers that will be presented to you, and then review the loan terms and conditions before signing the dotted lines. The lender that you’re paired with will then carry out a soft credit check to confirm whether you can repay the loan in record time. Your loan application will be approved if you meet all the eligibility criteria as stated on the lender’s website.
- CocoLoans doesn’t charge early payoff fees
- May approve borrowers with poor credit
- Fast application with same-day approval
- CocoLoans partners with over 60 credible lenders
- CocoLoans doesn’t offer joint or co-signed loans
- It’s not available in all the states in the US
#5. BadCrediLoans – Best for bad credit cash advance loans
BadCreditLoans specializes in bad credit loans. The company’s focus is to connect borrowers with a poor credit score with online lenders that are ready to offer unsecured personal loans. The lenders offer competitive interest rates, flexible repayment terms, and a fast online application process. Plus, you have the opportunity to compare different lenders to make the best decision possible.
You can take out between $500 and $10,000 depending on your income and creditworthiness. The repayment terms, fees, loan terms also depend on the lender. However, you must be at least 18 years old before submitting an application for consideration. You must also have a steady source of income and a valid bank account before BadCreditLoans will approve your loan application.
- Enjoy up to 20 months repayment duration
- Quick or instant approval for people with bad credit
- Get personal loans instantly after application
- BadCrediLoans offers a pre-qualification option
- The average APR is relatively high
- Does not allow co-signers or co-borrowers
#6. Upstart – Get small personal loans for bad credit
Upstart is an artificial intelligence-powered online lending company that’s designed to help those in a financial mess to meet up with their financial needs. Whether you have a medical emergency bill to settle or you want to travel abroad on vacation, Upstart can provide you with the necessary funds to meet your needs. Unlike other lending companies that check borrowers’ credit score, background information, and financial details, Upstart reviews factors like your source of income and job history. Once you meet all the eligibility criteria, you’d be approved for the amount that you applied for.
- Upstart uses AI to protect borrowers’ financial data
- This lending company has a user-friendly website
- They work with a wide range of credible lending companies
- It’s open to borrowers with a poor credit rating
- Upstart charges high late fees
- Upstart does not offer loans to West Virginia or Iowa residents
#7. SuperMoney – Best for same day cash advance loans
Making an informed financial decision can be stressful, and that’s why SuperMoney is here to help so that you can be in charge of your finances.
offers a wide range of loan options, including auto financing loans, installment loans, personal loans, and mortgages. The company makes financial comparison shopping very easy. All you need to do as a borrower is to compare rates and the loan terms presented before you before signing the dotted lines. What’s more? Even if you have a poor credit, you will still get a chance to apply for a personal loan to pay off upcoming bills.
- SuperMoney approves borrowers with bad or terrible credit
- This company can help you facilitate quick funding with flexible repayment terms
- Option to apply for a secured loan
- You can obtain up to $25,000
- Some loan products come with a high interest rate
- No co-signers
- The company charges a high origination fee
#8. CashAdvance – Best payday loans for same day funding
CashAdvance is another same-day payday loan broker that you can work with and enjoy peace of mind. Unlike other brokers, CashAdvance will link you with a lender that can offer you up to $20,000 with flexible repayment terms. CashAdvance understands the needs of borrowers, and that’s why they offer a wide range of loan products targeting different categories of borrowers.
This broker has a team of dedicated customer support that will hold you by the hands and walk you through the loan application process. Additionally, they work with a network of over 50 lenders that will approve your loan application instantly.
- Borrowers can pre-qualify with a soft credit check
- Get quick funding with guaranteed approval
- Partnership with over credible lenders
- Late payment grace period of 10 day
- Not available in all the states
- Potentially high interest for some loans
#9. Upgrade – Personal loans for bad credit with guaranteed approval
Upgrade is one of the best online personal loans for bad credit lenders. The company operates an open-door system, where borrowers can use the borrowed money for any purpose, including debt consolidation, credit card refinancing, major purchases, medical emergency bills, or auto repairs. Whether you have a good or poor credit rating, Upgrade looks beyond your credit score and will match you with a direct lender that offers you a low competitive interest rate.
You can take out as low as $50 and as high as $25,000 using the Upgrade payment platform. You can even pre-qualify for the requested amount without hurting your credit score. The online application process is very easy provided you have a source of income and you are at least 18 years of age as of the time of the loan application.
Other eligibility criteria includes – you must have a valid checking account, a valid phone number or email address for communication, and a means of identity.
- Upgrade links borrowers to direct lenders that offer competitive and attractive loan terms
- The company partners with up to 30 direct lenders
- The team only carries out a soft credit check
- The repayment terms are relatively long
- Upgrade doesn’t have any refinancing option
- High origination fee
#10. Payoff – Best personal installment loans for bad credit
This list will not be complete without mentioning Payoff, which is now known as Happy Money. This is a reliable and reputable online loan broker whose major focus is to connect loan seekers to direct lenders in the most professional way. The company has a good package for those with a bad or poor credit score. If your credit score is below 350, Payoff will work with you and ensure that you are assigned to a direct lender that will offer you competitive interest rates and repayment terms.
To take out personal loans with Payoff, once you land on their homepage, enter the loan amount you wish to collect and complete the loan application form. Payoff will review your loan application and then present you with different loan offers. You will then need to compare the different loan offers and choose one that suits your current financial situation. Once approved and you agree with the loan terms and conditions, Payoff will credit your checking account with the amount that you have requested for.
- Enjoy convenience and 24/7 availability of services
- The lenders offer flexible terms and competitive rates
- Payoff provides excellent customer service
- The company allows soft inquiry to prequalify
- Payoff charges a high origination fee
- The late repayment fee is also high
- Late repayment may hurt your credit score
Taking out a personal loan for bad credit can be a great way to pay off upcoming expenses. Personal loans for bad credit offer options for those with a poor or terrible credit score. These loans are unsecured and do not require any collateral. The top 10 personal loans options that we have reviewed above have been tested and confirmed reliable to offer personal loans with guaranteed approval. When choosing a lender there are so many factors you should keep in mind beyond the credit score requirements.
Credible and reputable loan brokers or lenders offer competitive interest rates and fees, transparent pricing structure, quick funding and approval times, loans that can be used for different purposes, as well as a wide range of repayment methods. All the 10 personal loans options on this list meet this requirement. So, don’t hesitate to reach out to any of them when you are ready to take out personal loans to settle unexpected expenses.