Small Loans Online for Bad Credit: Apply Quick & Easy

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Small Loans for Bad Credit

You might need quick cash to pay for moving expenses or vacations. Personal loans are fixed-rate loans with many terms.

Personal loans are still possible even with poor credit.

You should be careful. Even though lenders may approve you to get a loan, you could end up paying a lot of interest if your credit is poor.


The APR ranges from 5.94% up to 35.97%

Loan amounts from $1,000 to $50,000

Term length 2-7 years

Minimum credit score: 602.

Upgrade is our number one choice. Upgrade is our top choice.

Upgrade will charge an origination fee between 2.90% and 8%. Upgrade will charge an origination fee of between 2.90% and 8%.


The APR ranges from 9.95% up to 35.99%

The loan amount ranges from $2,000 to $35,000

Term length: 2-5 Years

The minimum score required: 600

Avant is a lender that can be approved quickly. Typically, funds are in your account within 24 hours of Avant approval. Avant funds loans fast – Avant must approve your loan by 4:30 PM CT Monday through Thursday.

Avant provides excellent customer service. It is available for at least 13 hours a day. Avant also has a mobile app.


Variable APR: 5.5% to 34.99%

Loan amounts from $1,000 to $50,000

Term length 3 to 5 Years

The minimum score required: is 600

Minimum score: Upstart needs 600 credits. You may have to pay an excessive APR if your credit score is low.

Upstart has a limited range of loan repayment terms. There are two options for loan repayment terms at Upstart. This is great for those who need cash fast.

OneMain Financial

The APR range is 18% to 35.99%

The loan amount ranges from $1,500 up to $20,000

Term length: 2-5 Years

OneMain has a minimum credit score of 550.

This is more than any other lender we have reviewed. You don’t have to have a minimum credit score in order to apply for a loan with OneMain. However, it is possible to get your money immediately after you submit your application.

OneMain’s best-known feature is its secured personal loan. The loans can be secured with collateral such as a house or a car, offering unsecured personal loans.


Variable APR: 7.4% to 34.99%

Loan amounts from $1,000 to $40,000

Term length 3 to 5 Years

Credit score minimum: Unspecified

LendingClub allows you to add a co-borrower to your loan application. The lowest price on our list is $1,000.

Your money will be available in between two to four business days. This is slower than what most lenders take on average.


APR range from 9.99% to 35.99%

Loan amounts: $2,000 to $36,500

Term length: 4 years

Minimum credit score: 580

LendingPoint is the best option if you don’t have a high credit score to be eligible for other lenders.

It is impossible to obtain a loan if you are not a resident of Nevada or West Virginia. You might have to pay an origination charge of up to 6%.

Credit score requirements

Each lender has its own criteria for loan eligibility. A higher credit score is likely to get you a better rate, but each lender has its own requirements. They are usually open to borrowers with poor credit.

You can find your credit report for free on from any of the three major credit bureaus weekly through April 20, 2022. Although it won’t show your credit score, this report will give you information about your credit history and the payment history that lenders use to determine whether or not to lend you money. You can learn what needs to be improved by reviewing your credit report.

You can view your score online or on your credit card statement. Credit reporting agencies can also pay for it.

Credit scores range from 300 to 850. These are the FICO scores.

  • Very poor: 300-579
  • Fair: 580-669
  • Good: 670-739
  • Excellent: 740-799
  • Exceptional: 800-850

Comparing rates from different companies will not affect your credit score. If you are offered a loan, most lenders will only conduct a soft credit inquiry. Lenders may use this to lower your credit score.

If you are denied a loan by the lender, you chose or have been offered a higher rate of interest than you can afford, here are some ways you can improve your credit score.

  • Request a copy of your credit report. Contact the credit bureau to correct any errors.
  • Keep credit card balances below 30%. This will demonstrate to lenders that you are able to responsibly manage your credit.
  • Your payment history is an important factor in your credit score. To ensure that you are on track, lenders prefer regular, reliable payments in the past.

Other personal loans were also considered.

  • TD Bank personal mortgage. TD Bank’soffering personal lending, the maximum APR is relatively low, but the bank limits its lending to borrowers in 15 states and Washington DC.
  • Universal Credit offers personal loans. It may take you longer to get your money than with our top picks.
  • OppLoans personal loans are available to anyone with a credit score of at least 59%. The APR range of OppLoans is between 59% and 160%. This makes it more expensive than other lenders on our list.
  • Payoff Personal Loan. While Payoff has a low APR for people with good credit, the minimum requirement of 64 is higher than any of our top picks.
  • Prosper Personal loan. You need a minimum of 640 to qualify for a loan from Prosper.
  • Peerform offers personal loans. Peerform requires 600 credit scores to qualify. We recommend that you do not borrow less than $4,000, but this is the minimum amount.
  • First Tech Credit Union personal loans. First Tech doesn’t require you to join a credit union to get a loan.

Which lender has the highest reliability?

To help you make a decision, we have compared the Better Business Bureau scores from each institution. We assess their responses to consumer complaints, honesty, and transparency about business practices.

Avant and LendingClub are our top picks. However, they all have A-rated BBB ratings or higher. For the best information, you should continue researching the company and talk with customers who have used it.

Due to the government’s actions against Avant, Avant has been rated B by the BBB in trustworthiness. LendingClub was rated B by the BBB for its trustworthiness.

In 2018, the Federal Trade Commission filed a complaint against LendingClub for its misleading lending practices. LendingClub was accused of charging hidden fees and making customers believe that they had been approved for loans. They also continued to charge customers for canceling automatic payment cancellations or for having paid off all loans. This matter is currently under investigation by the Federal Trade Commission.

LendingClub may have a history that makes it difficult to find a personal lender.

Commonly asked questions

What is a bad credit loan?

Bad credit loans are available to those with poor credit ratings or low credit scores. They are typically repaid in monthly installments over several years.

Bad credit does not automatically make you ineligible for loans. A loan application will be denied if your credit score is lower than someone with a better one.

Each lender will have its criteria for deciding if it will lend money to people with bad credit. It is important to compare lenders before you decide on one.

What does the Coronavirus mean in bad credit loans?

Many online lenders have changed their loan offers and interest rates to address the COVID-19 pandemic.

It may not be possible to get a loan if you have an existing loan.

How can we choose the best loan for bad credit?

Personal Finance Rixloans can help you make smart financial decisions.

  • Annual percentage rate: Lenders who offer low maximum rates for poor credit histories are the best.
  • Lending terms: Personal loans are our highest priority. We offer many repayment terms.
  • The loan amount ranges: We looked for lenders with low minimum personal loans and did not include any below $2,000 in our search.
  • Your credit score will determine if you are eligible for a loan from some lenders. Others might not approve of you. We chose lenders with low minimum credit scores so that you have the best chance of being approved.
  • LendingClub is a trusted lender. LendingClub chose lenders with an A rating from the Better Business Bureau. This is due to a government decision.

What are the alternatives for bad credit loans?

Personal loans can be an excellent option for quick cash, but there are better options.

  • Talk to your friends and family.
  • A paycheck advance is available from certain banks. This can be done a few days in advance. Apps allow you to access the money you’ve earned during a pay period. You may be charged fees to take a paycheck raise.
  • Apply for a credit card. You may also be eligible for a lower interest rate with a credit card than with a personal loan lender.
  • Local charities and nonprofits can help you. Find a list near you.
  • Part-time gig economy workers Earn extra cash by working part-time at gigs such as rideshare and food delivery apps.

Are bad credit loans legitimate?

Yes, personal loans can be repaid from a reputable lender. Search for personal loans backed up by a member of FDIC Bank or NCUA Accredited Credit Union.

These are the top indicators of fraud that will help you identify potential scams.

  • The lender will not ask about your credit score and payment history.
  • The website belonging to the lender is not secure
  • Lenders guarantee approval.
  • Fees are not discussed openly by the lender.
  • The lender coerces you to take out a loan immediately.

What is the best use of a personal loan?

Personal loans can be used for many reasons. The lender will determine which of these options is most appropriate.

  • Consolidation Debt
  • Refinance your credit card
  • Home Renovations
  • Expenses for moving
  • Travel
  • Car Repair
  • Medical bills

Contact your lender to discuss the options.

How much does a personal loan cost?

This all depends on how much you’re willing to borrow, what APR you get from your lender, and how long it takes you to repay the loan.

Loans with higher loan amounts and APRs are more costly. However, if you spread your monthly payments over a longer time, your monthly payments will be lower.

How fast can you get your money?

You might get your money as soon as your application is approved.

Author: Kimberly Chantal Parkes

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Kimberly Chantal Parkes is a former contributor to Rixloans. Kimberly Chantal is a freelance copy editor and writer with a specialization in personal financial planning. After having graduated from Kansas State University with a bachelor's degree in journalism, she began her career in media wearing many hats for community newspapers within the Kansas City area: writer as well as copy editor, photographer and coffee runner among other things.

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