Best Online Loans For Bad Credit

Reviewed by LoanWinners Experts

How We Rate Bad Credit Lenders

If you’ve been wondering how to get a bad credit loan, appease your mind. With our broad array of reviews on commercially-available direct lenders, you don’t need to look further. You have everything you need to know in terms of personal loans summarized in one trusted place. That place is LoanWinners, and we take exceptional care to provide you with the best available loan products across the net.

Our rating methodology is meticulous and takes into account seven different criteria. These include APRs, loan terms, fees, loan amount, customer support, client satisfaction, and turnout time. After studying each direct lender and their offers and practices to great lengths, we present our loyal readers with reliable reviews.

Below are some of the best online personal loans for bad credit scores. Currently, these lenders have the most convenient offers with reasonable terms and rates. Read on, compare, and select a product that satisfies your urgent needs and wants.

1. Payoff

In our opinion, this is the lender with the best peer to peer loans.

Equivalent APR offered: 24.99% | Loan Amount: $5,000 to $40,000 | BBB rating: A+ | Trust Pilot rating: N/a | States: 36 online | Physical stores: N | Telephone: N | Online: Y | Min. Credit Score: 640

Payoff’s funding is perfect for applicants who seek to consolidate their credit card debt. It targets clients with any credit score above 640 and a factual credit report for three years. On-time payment on at least two open lines of credit is also required. Yet, unlike credit cards, Payoff focuses on getting you out of debt.

Payoff offers convenient loan products, but you must meet specific eligibility requirements. Luckily, loan users who miss payments don’t pay late fees. Instead, they get the chance to rearrange the terms and skip a payment with modified rates. Representatives of Payoff typically offer assistance in terms of better management of your finance and debt.

Loan amounts range between $5,000 and $35,000, whereas interest rates start at 5.99% and reach 24.99%. Once approved, you may have to wait up to five business days, unlike most competitors in the field.

On the negative side, Payoff runs ‘hard’ credit checks before approving, which can harm your credit score. You’ll also have to pay a one-off origination fee of up to five percent. Another disadvantage is that you can’t use the loan for home improvement or financial emergencies.

2. DirectLoanTransfer

In our opinion, this is the best for fast funding option.

Equivalent APR offered: N/a | Loan Amount: $100 to $5,000 | BBB rating: N/a | Trust Pilot rating: 4.0/5 | States: 36 online | Physical stores: N | Telephone: N | Online: Y will find you the top lenders on the market! Indeed, a lending platform strives to cater to any customer’s needs in a personalized and convenient way.

DirectLoanTransfer offers troubled borrowers a way out of any financial hardship with long-term loan amounts of up to $5,000. However, the loan amount can vary depending on the specific lender and the customer’s financial background. You must be aware that applicants with a bad credit score will face higher interest rates before anything.

The upside of DirectLoanTransfer is that it introduces clients to the best loans with the most convenient interest rate.  Their site will also protect you from unscrupulous practices of suspicious lenders. Last, expect some late payment and other applicable fees that grossly vary depending on the selected loan and lender.

3. OppLoans

In our opinion, this is the lender with the best online installment loans.

Equivalent APR offered: Up to 199% | Loan Amount: $500 to $5,000 | BBB rating: A+ | Trust Pilot rating: 4.7 | States: 13 online + 24 from lending partners| Physical stores: N | Telephone: Y | Online: Y | Min. Credit Score: None

Unlike other lenders, OppLoans specializes in bad credit loans, no credit check loans, and installment loans. Plus, they run soft inquiries when you apply for a loan, so this doesn’t affect your credit score. Hence, the three major credit bureaus don’t get involved in the procedure.

Taking out a personal loan with OppLoans is safe, but specific financial solutions might not appeal to everyone. APR rates are high and range between 99% and 199%, depending on your financial situation and credit report. As a result, borrowers end up repaying considerably larger amounts than the initial loan amount.

With OppLoans, there’s no prescribed minimum FICO score to get considered for a personal loan. Even better, most loans aim to meet specific applicants’ needs with a not-so-perfect rating. When approved for an amount between $500 and $4,000, the longest repayment period can stretch up to 36 months.

4. Upstart

In our opinion, this is the lender with the best debt consolidation loans.

Equivalent APR offered: 7.98% – 35.99% | Loan Amount: $1,000 to $50,000 | BBB rating: A+ | Trust Pilot rating: 4.9 | States: N/A | Physical stores: N | Telephone: Y | Online: Y | Min. Credit Score: 600

An Upstart personal loan may be ideal for people who need to consolidate debt, start a business, or make larger purchases. The company takes pride in fast funding and accessibility to a wide range of clients.

With an APR ranging from 5.99% to 35.99% and a minimum credit score of 620, troubled applicants can get relieved. Meaning, even a fair credit score will get approved for larger-scale personal loans. Yet, a score of approximately 600 will probably involve a high-interest rate of nearly 36%.

When it comes to the loan amount, minimum sums stand at $5,000, whereas the upper limit caps at $30,000. However, such figures can vary depending on the state you live in. Upstart offers exceptionally long repayment periods for debt consolidation that often extend to five years.

Upstart’s downside is that the company imposed fees for belated payments, returned check, and origination. Luckily, prepayment doesn’t involve penalties. Though you must have a regular income source to get approved, there’s no established income threshold to apply.


In our opinion, this lender is the most convenient for bad credit.

Equivalent APR offered: 5.99% – 35.99% | Loan Amount: $500 to $10,000 | BBB rating: N/A | Trust Pilot rating: 3.2 | States: 50 online | Physical stores: N | Telephone: Y | Online: Y | Min. Credit Score: None

One of the best places to procure money when you’re strapped for cash. Rates are competitive, most loan criteria are lenient, and the entire application procedure is straightforward and quick. Typically, it’s aimed to help you get cash as soon as possible.

Though the lowest APR stands at 5.99%, only a few borrowers succeed in achieving it. The highest APR caps at 35.99%, so if your credit score is fair, you’ll repay a lot more than you initially borrowed. Yet, don’t worry if your credit rating is low or you earn about $1,000 per month. This lender will customize a special offer depending on your creditworthiness with repayment terms of up to 72 months.

CashUSA doesn’t operate as a direct lender, but it connects applicants with potential lenders specialized in personal loans. There are no application fees on behalf of CashUSA, but that doesn’t necessarily mean the direct lender won’t impose any.

On the negative side, loan amounts are below average, so you can’t borrow more than $10,000. Also, the fact that CashUSA is not a direct lender can deter clients from applying. In a word, there’s a chance that partnering lenders impose additional requirements and fees.

6. Avant


Equivalent APR offered: 9.95% – 35.99% | Loan Amount: $2,000 to $35,000 | BBB rating: A | Trust Pilot rating: 4.7 | States: 46 online | Physical stores: N | Telephone: Y | Online: Y | Min. Credit Score: 580

Avant personal loans are ideal for bad credit scores as low as 580. If you’re eligible, expect to receive the approved funds quickly and hassle-free.

The range of loan products at Avant is exceptional, and the amounts stretch from $2,000 up to $35,000. An average borrower with Avant has a credit score of 650, but even less-than-perfect scores get approved. However, low credit scores will most likely receive a loan with higher interest rates that reach 36%.

Clients particularly appreciate the fact that funds reach their accounts as soon as the next business day. Moving on, you can repay the loan within a period of two to five years without an early repayment fee. Also, their mobile app is intuitive and helps users keep track of their payments.

Conversely, Avant charges $25 when you are late with your payments and $15 for a dishonored payment fee. When you apply for a personal loan for bad credit, their administration fee can reach 4.75% of the sum, too.

7. Bad Credit Loans


Equivalent APR offered: 5.99% – 35.99% | Loan Amount: $500 to $5,000 | BBB rating: Not accredited | Trust Pilot rating: 2.3 | States: N/A | Physical stores: N | Telephone: Y | Online: Y | Min. Credit Score: 500

Delivering what its name states – bad credit loans, this lending platform connects borrowers with a vast network of potential lenders. On-time payments can significantly improve your credit score with time due to the flexibility offered by the site.

BadCreditLoans may not be the ideal way to procure urgent cash, but can indeed save the day in desperate times. As it targets bad credit holders, repayment periods extend up to 36 months, along with an APR of nearly 35.99%. Funding time can vary, and fortunately, no minimum revenue is specified.

On the negative side, a low credit score of 500 can only get you a $1,000 loan at the most. Even higher scores don’t get approved amounts above $5,000, as this is the upper limit. Though there are no application fees, some lenders impose late payment fees and origination fees up to 8% of the loan amount.

8. TD Bank Personal Loan


Equivalent APR offered: 6.99% – 21.99% | Loan Amount: $2,000 to $50,000 | BBB rating: Not accredited | Trust Pilot rating: 1.2 | States: 51 | Physical stores: Yes | Telephone: Y | Online: Y | Min. Credit Score: 660

TD Bank offers outstanding personal loans that you can use to boost your credit score. Above all, one can use savings at the bank as collateral for any secured loan taken.

With TD Bank, most clients manage to obtain a lower interest rate than the average. In short, depending on your credit score, the interest rate will vary from 6.99% to 21.99%. In case you qualify, prepare to receive an unusually high loan amount. From as little as $2,000 to $50,000, personal loans at TD Bank are one of the most affordable on the lending market.

Moreover, you’ll repay a fixed rate without any origination or application fees. On top of that, the repayment period ranges from 36 months to 60 months, but longer-term loans involve higher rates, too. Initial approvals take as few as 60 seconds, and the money can reach your account the next business day.

Though you can apply and get the approval online, any final agreement must get concluded at the bank. More specifically, borrowers must apply for secured loans in-store. Another downside of TD Bank’s unsecured loans is that you must have at least 700 FICO score. Below-average scores should target secured loans as for those. There’s no advertised minimum rating.



Equivalent APR offered: 35.99% | Loan Amount: $500 to $35,000 | BBB rating: Not accredited | Trust Pilot rating: 4.4 | States: 50 online | Physical stores: N | Telephone: Y | Online: Y | Min. Credit Score: 580 is not a direct lender, but it connects applicants with an extensive network of authorized lenders. The connection is instant, and the range of loan products is excellent, as are the loan terms.

Apply online with if you’re looking for personalized offers from several loan providers and fast approval. Their website also offers detailed information on most products, so you don’t have to worry about missing essential terms.

With loan amounts between $500 and $35,000, reputable lenders here exceed most average loan offers. Loans are available across all 50 states and can reach your account as soon as the next business day. Though APRs cap at 35.99%, this is somehow justifiable as loan terms extend up to 72 months. For shorter terms of up to six months and higher FICO scores, your APR might be as little as 5.99%.

Conversely, some lenders might not like the fact that their personal data are subject to advertiser disclosure. However, this is inevitable so you can receive relevant offers. Also, a hard inquiry must precede the final lending decision, and this can impact your credit rating.

What Are Bad Credit Loans?

When someone refers to bad credit, this means you either have a low credit score or a brief credit history. Of course, you were not born with poor credit. Typically, any score under 580 is considered bad credit. So, loans for individuals with ratings of 580 and under are bad credit loans. Any credit rating will suffer harmful consequences if you default on loans or max-out credit cards. Hence, bad credit loans get specifically tailored to cater to the needs of people who had some financial hardships or missteps.

Alternatively, if you haven’t had the time to build a factual credit report, a bad credit loan might be the right alternative. Lenders operate on the notion that you’re not a risk to their business. So, if you have no way to prove your previous lending habits, loans with better terms will be out of your reach.

Furthermore, the fees, terms, and interest rates for any personal loan vary by lender. Different lenders will rate you on a different scale within the ‘creditworthy borrower’ range. In short, some lending companies impose stricter requirements and ask for more supporting documents for poor credit loans.

How Do Bad Credit Loans Work?

There are two major types of personal loans for bad credit scores. A secured personal loan involves collateral that can be your house or car and tend to have a lower interest rate. Secured personal loans for not-so-good credit can reach higher amounts and provide prolonged repayment terms.

Alternatively, an unsecured loan usually involves a lower amount and a higher APR. If you wish to keep expenses at the minimum, select a short-term loan, and find ways to boost your credit score. Prepare to pay back an obscene amount of money if your credit rating is about 500, and you opt for more flexible repayment terms.

Lenders see applicants with low credit ratings as a potential risk, so they make borrowing more expensive. Most lending companies will perform either a soft or hard credit check on you to learn more about your past borrowing practices. If they conclude you can manage your finances to a satisfactory level, expect to receive approval. Yet, limited credit histories lead to personal loans with less convenient terms and interest rates.

Which Loan Company Is Best for Bad Credit?

The lending market is full of lenders who offer multiple long and short-term loan products under various requirements. Therefore, it’s essential to find a lender whose offers suit your needs the best. Whether a loan offer is favorable or not depends on several factors among which:

  • Interest rates and fees. Check lenders for the best interest rate and lowest expenses. Seek loans that don’t involve an application, prepayment, and origination fee. What you need is the cheapest loan to overcome a specific financial mishap. Never apply for anything before understanding the costs and fees of payday loans.
  • Repayment period. Depending on the loan amount, some lenders will allow you repayment terms up to six or seven years. Yet, a shorter time means that you’ll get out of debt more quickly, and you’ll waste less money on interest.
  • Type of lender. Personal loans with online lenders have the most convenient terms. However, you can also choose to do business with a bank or credit union. Often, applying with the best cash advance apps can prove beneficial for your finances.
  • Eligibility criteria. Always check the minimum credit scores, the required income, and the debt-to-income ratios. When you’re choosing a lender, select a company that will accept your current financial situation.

What’s the Easiest Loan to Get With Bad Credit?

A troubled borrower might be looking for some easy loans, and our main goal is to assist them. Before anything, you must understand that getting a loan from lenders that don’t run credit checks is your best shot. As a result, you might realize that a good credit loan is always easier to acquire.

To obtain a loan the most straightforward way, start by the lenders reviewed above. While not all of the presented lenders accept borrowers with poor credit, some of them do. Before you apply, compare the offered loan and check all pre-qualification criteria.

Federal student loans offer the most affordable products for students when it comes to the best student loans. Unlike credit cards, student loans will enhance your FICO score.

Can I Get a Loan With a 500 Credit Score?

Typically, bad credit scores around 500 can prove challenging to qualify for a personal loan. Not many lenders will be eager to offer you such a deal. Yet, not all chances are lost! When opting for an unsecured personal loan, get prepared for insanely high-interest rates up to 36%. So, if you’re in an emergency, this is the ultimate cost to get things in order.

Alternatively, a secured car or house loan will cost you less to repay than traditional credit cards. This way, lenders ensure you pay on time. If you default on the loan, you’ll lose the asset under collateral. We strongly suggest you shop around when looking for a personal loan. Offers with the lowest APR rate should be your focus of interest, as those with fewer fees.

Where Can I Get a Loan With Bad Credit?

With the extensive offer LoanWinners displays to its readership, this is not a plausible concern any longer. Nowadays, the range of personal loans for bad and not-so-perfect scores is practically endless. Whether you’re looking for an installment, personal, or an auto loan, we got your back.

Find the best online payday loans for bad credit at our website and get approved quickly and without much fuss. Payday loans’ interest rates can be high, but they may be your last resort solution if you don’t have good credit. One upside is that they don’t run any credit checks and can boost your credit report.

We strongly suggest you check the lenders you’re applying with and don’t seem to be interested in your credit history. Unreliable lenders tend to offer loans only via phone without having a registered company in your state. If the lender asks you to pay a specific person money, avoid the transaction and consider it a scam.

How Can I Get a Bad Credit Loan?

Direct lenders have undoubtedly fortified their position on the loan market, while lending practices have entirely changed. Today, the overall borrowing procedure is simple and without substantial credit history checks, even when it comes to a personal loan. Consider the following step-by-step process to ensure you get a personal loan for bad credit on a short note.

  1. Find a suitable lender. Compare direct lenders within our pool of collaborators who offer the best loans for bad credit on the internet. Exploring the market gives you an insight into the available loan amounts, loan fees, and the time needed to receive the money.
  2. Pre-qualification step. For most borrowers, this step is inevitable to ensure they’re eligible to apply with bad credit. Why waste time on hard inquiries if you don’t qualify and meet the pre-determined criteria, right? Checking the terms and conditions of any offered loan is a must, too.
  3. Apply. Most lending procedures occur online, so there is no need to go to a lenders’ branch. Fill in your personal data, source of revenue, and bank account details and wait for the outcome. If you collect all the required documents beforehand, expect to complete the process in a few minutes.
  4. Wait for approval. Direct lenders won’t take long to respond to your loan application as they operate 24/7. After running a quick credit check, you’ll receive the loan options and terms. Get ready for a hard credit check, too. Once you select a specific loan product, confirm the offer to execute the deal. Expect to have the money on your bank account the next business day.
  5. Repay the loan. Executing monthly payments is essential if you want to improve your credit score and avoid fines. Therefore, before taking out a loan, draw up a repayment plan, and pay installments on time and full.

What Are the Main Bad Credit Loan Requirements?

The eligibility criteria can vary with different lenders, but some are generalized for most lending companies. Before taking out any personal loan, consider the following requirements one by one.

  • To be over 18.
  • To be a US citizen or permanent resident.
  • Have proof of regular income. Lenders might accept other types of revenue, such as annuities, disability payments, etc.
  • Have a checking account on your name.
  • Provide specific personal information such as an address, phone number, and e-mail.

Some lenders may still require supporting documents, such as clear credit history or no bankruptcy and loan defaulting record. Also, prepare any relevant evidence that shows you’re in regular employment for at least three consecutive months.

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