Kimberly Chantal Parkes
Written by Kimberly Chantal Parkes

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.

Small Loans for Bad Credit Scores

You might need quick cash to pay for moving expenses or vacations. Personal loans are fixed-rate loans with many loan term options. Personal loans are still possible even with poor credit scores. You should be careful. Even though lenders may approve you to get financial assistance, you could pay 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

Loan term length 2-7 years

Minimum credit score requirements: 602.

Upgrade is our number one choice. Upgrade will charge an origination fee 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

Loan term length: 2-5 Years

Minimum credit score requirements: 600

Online application process: The online loan application process is easy and fast for those with a bad credit score.

Avant is a lender that approves loans quickly, offering a seamless loan application process. Avant funds loans fast and approves your loan by 4:30 PM CT Monday through Thursday. Typically, loan funds are in your account within 24 hours of Avant approval.

Loan term options and excellent customer service are two things that Avant provides. It is available for at least 13 hours a day. Avant also has a mobile app that supports online loans.


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

You may have to pay an excessive APR if your credit score is low. However, Upstart evaluates your financial history and requires proof of income during application.

Upstart has a limited range of loan term options. 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.

OneMain Financial provides various loan agreements to meet borrowers’ unique needs. The loan decision process is swift, allowing borrowers access to funds within a short period of time.

You don’t need a minimum credit score to apply for a loan with OneMain. However, getting your money immediately after you submit your application is possible.

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. With a wide range of loan options, OneMain caters to various financial emergencies, and you can choose the right type of loan based on your needs.


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. Although Traditional lenders may offer similar features, LendingClub stands out with its flexible repayment terms and prompt processing of loan requests. Your money will be available in between two to four business days. This is slower than what most lenders take on average but offers reasonable interest rates that may be more accessible to borrowers with a variety of credit scores.


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 have a low credit score to be eligible for other trustworthy lenders. This is one of the great financial solutions for those looking for loans for people with less-than-perfect credit.

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%.

Small loans for bad credit chart

Credit Score Requirements

Each lender has its own criteria for loan eligibility. A higher credit score will likely get you a better rate, but each lender has its own requirements. They are usually open to borrowers with poor credit, offering different options for borrowers who require assistance, especially when facing an unexpected expense.

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 lenders use to determine whether or not to lend you money. You can view your score online or on your credit card statement. By reviewing your credit report, you can learn what needs to be improved and better understand the loan process.

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. Most lenders will only conduct a soft credit inquiry if you are offered a loan. Lenders may use this to lower their interest rates.

If you are denied a loan by the lender you chose or offered a higher rate of interest than you can afford, here are some ways to improve your credit score. Remember that considering a range of loan options is crucial for people with less-than-perfect credit scores. Even with late payments in your history, you may still have financing options available. Research the various loan type offerings and make informed decisions about the most convenient solution for your situation. You may even find a suitable bad credit loan online to help get you back on track financially.

  • 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 can manage your credit responsibly.
  • Your payment history is an important factor in your credit score. Lenders prefer regular, reliable payments on time in the past to ensure that you are on track.

Other Personal Loans to Consider

When evaluating personal loans, it’s essential to consider factors such as the range of loan amounts, Loan amount options, and flexible repayment options. These can help you tailor your loan to your specific needs and ensure you can effectively manage your loan payment.

A customized repayment schedule allows borrowers to make better repayments that suit their income and circumstances. Furthermore, having easy access to funds and various access to loans ensures you have the best options to manage your finances responsibly.

  • TD Bank online platform for personal loans. TD Bank offers personal lending, and the maximum loan amounts have a relatively low APR. The bank limits 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. However, it is an option for borrowers with emergency expenses.
  • OppLoans personal loans are available to anyone with a low to high credit score. The APR range of OppLoans is between 59% and 160%. This makes it more expensive than other lenders on our list but a perfect choice for some borrowers.
  • Payoff Personal Loan. While Payoff has a low APR for people with good credit, the minimum requirement of 640 is higher than any of our top picks. Its online form is easy to use for a quick application process.
  • Prosper Personal loan. You need a minimum of 640 to qualify for a loan from Prosper. They offer same-day funding for qualified applicants, making them a suitable option for urgent needs.
  • Peerform offers personal loans. This lender is known for working with bad credit loan lenders, providing a much-needed solution for those struggling with low credit scores. Peerform requires 600 credit scores to qualify. We recommend that you 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, making it a more accessible option for potential borrowers.

Which Lender Has the Highest Reliability?

To help you decide, we have compared each institution’s Better Business Bureau scores. We assess their responses to consumer complaints, honesty, and transparency about business practices. Along with these factors, Acceptance Rate is also considered while comparing the lenders.

Avant and LendingClub are our top picks as they are an excellent choice and a popular choice. 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. Both institutions offer quick funding, reasonable terms, and have a reputation as legitimate lenders. You can also consider their online services to know more about their offerings.

While exploring other alternatives, you can look for an affordable option with an excellent Acceptance Rate to ensure the best match for your financial needs.

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 they had obtained loan approval. They also continued to charge customers for canceling automatic payments cancellations or paying 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.

At RixLoans, we’re committed to providing accessible financial solutions to individuals facing credit challenges. Our online platform offers small loans tailored to help you bridge financial gaps, even if you have bad credit. We’re proud to serve customers in the following American states, extending our support to those in need of reliable, convenient lending options.

ConnecticutDelawareDistrict Of Columbia
NebraskaNevadaNew Hampshire
New JerseyNew MexicoNew York
North CarolinaNorth DakotaOhio
Rhode IslandSouth CarolinaSouth Dakota
West VirginiaWisconsinWyoming
American States Where RixLoans Offers Small Loans for Bad Credit

Frequently Asked Questions

What Is a Bad Credit Loan?

Bad credit loans are available to those with poor or low credit ratings. Borrowers repay them in monthly installments over several years. The entire loan process can be streamlined through an online lending platform that caters specifically to bad credit borrowers. The basic requirements may differ slightly, but a secure application process makes getting loans without credit checks possible.

Being a bad-credit borrower does not automatically make you ineligible for loans. A loan application will be denied if your credit score is lower than what the lender specifies as the minimum requirement. Consider researching options specializing in working with bad credit individuals and offer flexible funding times and a transparent application process.

Each lender will have criteria for deciding if it will lend money to people with bad credit. It is important to compare lenders before you decide on one, especially when considering medical expenses and the potential cycle of debt that may follow a medical emergency.

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. Some will have more typical requirements, while others might have more flexible loan terms and convenient repayment options for those needing loans to cover medical expenses.

It may not be possible to get a loan if you have an existing loan, so borrowers need to consider loans from lenders who can provide better terms during these challenging times.

How Can We Choose the Best Loan for Bad Credit?

When looking for the best online loan lenders for bad credit, Rixloans can help you make smart financial decisions. Examine several options and choose the one that meets your financial needs while offering flexible loan terms and convenient repayment options.

  • 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 your eligibility for a loan from some lenders. Others might not approve of you. We chose lenders with low minimum credit scores so you have the best chance of being approved.

What Are the Alternatives for Bad Credit Loans?

Personal loans can be an excellent option for quick cash, but better options exist. Our application form allows for a smooth application process and decision in minutes. With our ideal solution, you will find a bad credit loan company that provides you access to cash without delays. We offer various loan services, including loans to people with bad credit. So don’t worry about finding a suitable lender; we can provide you with a quick decision and the best options.

  • Talk to your friends and family.
  • In a matter of minutes, paycheck advance is available from certain banks. This can be done a few days in advance. Apps allow you to access your money earned during a specified period. You may pay fees to take a paycheck in advance.
  • Apply for a credit card. You may also be eligible for a lower interest rate with a credit card than with a streamlined application process personal loan lender.
  • Local charities and nonprofits can help you with financial responsibility. 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. This can act as an additional source of income.

Are Bad Credit Loans Legitimate?

Yes, bad credit loans are legitimate. Borrowers can obtain personal loans from a reputable lender. Search for personal loans backed up by an FDIC Bank or NCUA Accredited Credit Union member, offering instant decisions and faster approval times.

These are the top indicators of fraud that will help you identify potential scams and avoid loans from unreliable lending platforms for your major expenses.

  • The lender will not ask about your credit score and payment history, offering a no-credit-check loan.
  • The website belonging to the lender is not secure.
  • Lenders guarantee approval for qualified borrowers through a straightforward application process.
  • Fees are not discussed openly by the lender.
  • The lender coerces you to take out a loan immediately with the claim of notices in minutes.

What Is the Best Use of a Personal Loan?

Borrowers can use personal loans for many reasons. The lender will determine which of these options is the perfect solution for you.

Contact your lender to discuss the options regarding their straightforward process.

How Much Does a Personal Loan Cost?

This depends on how much you’re willing to borrow, what APR you get from your lender, and how long it takes 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 with a regular source of income.

How Fast Can You Get Your Money?

You might get your money as soon as your application is approved. Most lenders send the money within 2 hours of obtaining approval. Check with your lender before signing the loan contract.

Kimberly Chantal Parkes

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.