How to Get a Bad Credit Loan?

Most lending companies would not approve your loan application if you have a bad credit history or none at all. There are times when no matter how you want, some emergencies would prevent you from paying your debts regularly. You could have lost a job and reached the maximum limit of your credit card. Or you may have no credit history at all. However, such a situation does not mean that you could never borrow from any lending company anymore. You could still apply for a bad credit loan, which is a personal loan extended to people like you. Even with a bad credit, you can still borrow to pay for your old debts, car repair, or medical bills.  

Before applying for a bad credit loan, check the speed of the release of funds. It is essential for you to know when you can get your loan proceeds. For your emergency needs, look for a bad credit loan with same-day release. Check the fees and interest rates. Getting cash quickly might be a primary concern, but high costs can make it difficult for you to pay it back.

Check the repayment terms, payment schedule, and penalties for delayed or advance payments. Knowing this can help you prepare for your payments when it is due.  

Here are some ways to get a bad credit loan in the USA.

Apply to credit unions 

Some credit unions would extend emergency loans for borrowers with bad credit record or one with none at all. You can become a member by buying a share for $5 to $25. After registering to the credit union, you could borrow money at a low interest rate.  

Borrowers can apply for a loan up to $2,000. Because credit unions are non-profit organizations, they charge minimal interest rates and flexible terms.

Emergency loans with no credit check

There are emergency loans that you can avail with a credit rating. Similar to payday loans or auto title loans, they carry high interest rates. Even lenders that claim to charge the lowest interest rates still charge higher than any banks or financial institutions that require good credit. Before taking a loan from these entities, do your best to find a cheaper alternative.

In case a dire and immediate need you can try applying to these lenders for bad credit.

Upgrade Personal Loans

Upgrade provides people with bad credits a personal loan from $1,000 to $50,000.Clients with high credit scores would have low interest rates and attractive payment terms. Bad credit loans are also available for people that cannot borrow from traditional lending institutions because of their bad credit.

Avant Bad Credit Loans

Avant is another lending company that welcomes borrowers with bad credits. Based in Chicago, this lender targets middle class families that do not have credit score to qualify for a bank loan. Payment terms are flexible and despite low credit scores, it does not require applicants to have a co-signer. You can apply for a refinance once you have paid all you’re your dues.


Prosper is a peer-to-peer community that offers loans even to clients with bad credit. Several members of the community invest their money to provide loans to those that other finance and credit agencies reject. They are happy to help those I need and earn profit as well.


If you have bad credit or no credit record at all, but have a steady income, CashUsa might give you a loan for your emergency and other needs. You can apply online if you are of legal age or at least 18 years old and above and a citizen or permanent resident of the US. You need a bank account for quick disbursement of the funds. Processing is quick and easy as long as you have all the necessary requirements.


Senior citizens are at the age when they are jobless and have bad or no credits since they rely on their social security pensions. It is difficult for them to qualify for a loan. With MoneyMutual, these old people can now get an emergency loan. Applicants must have a monthly income of $800 dollars, which is less than their monthly pension of $1471.00.Once they qualify, the lending company will deposit the funds to their accounts in one or two business days.


CreditLoan is another bad credit loan provider that connects senior citizens with lenders that do not require a high credit score. The loan amount ranges from $2500 to $5000. The clients must have a bank account where the lender can deposit the funds. CreditLoan has a network of lenders that invest in loans and set the interest rate and repayment terms. Senior citizens that receive social security monthly benefits are the priority.

 If you are in USA, bad credit cannot hamper you from taking a loan to finance your emergency needs. Even senior citizens can borrow from several lenders that provide bad credit loans.