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Best Bad Credit Loans 2021: Compare Lenders & Apply

Got damaged credit but need a loan? Bad credit loans can help you in a pinch and allow you to pay over time. helps you:

  • Find bad credit loans
  • Compare APR’s
  • Improve your financial situation
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Compare the Best Loans for Bad Credit 2021

Chosen 7099 times

$1,000 - $50,000

Loan Amount

3 Years - 3 Years

Term of loan

9.56% - 29.99%

Lowest rate


Minimum age

Chosen 1660 times

$3,500 - $25,000

Loan Amount

2 Years - 4 Years

Term of loan

15.49% - 34.99%

Lowest rate


Minimum age


Chosen 22539 times

$500 - $35,000

Loan Amount

3 Months - 6 Years

Term of loan

5.99% - 35.99%

Lowest rate


Minimum age


Chosen 13397 times

$100 - $3,000

Loan Amount

10 Days - 6 Months

Term of loan

471.78% - 841.45%

Lowest rate


Minimum age


Chosen 11891 times

$50 - $1,500

Loan Amount

14 Days - 1 Month

Term of loan

10% - 1042.86%

Lowest rate


Minimum age


Please note that loan amounts, interest rates and other loan terms may vary according to your state and credit profile.

Get a loan with bad credit while improving your credit score.

Getting a personal loan when you have bad credit can be a nightmare. helps you find trusted lenders who offer loans to those with bad credit.

  • Compare APR rates
  • Choose the best bad credit loans
  • Improve your financial situation
bad credit loans

Even a solid budget may fail due to unavoidable circumstances. An employment setback, relationship breakup, emergency medical or dental expenses, accidents, vehicle repairs, and innumerable other unexpected expenses can blow up our budget and leave us needing more money in a hurry.

When these types of emergencies occur, we may have no option but to borrow money to cover the unplanned costs and get us through the tight financial spot.  

What Is a Bad Credit Lender?

You may still have options from a variety of lenders who will lend to people regular lenders have turned down.

Still, loans for people with bad credit are more limited and are likely to be on less favorable terms.

These lenders are called bad credit lenders and include various banks, credit unions, and online lenders.

They vary in the strictness of their requirements and in terms of their loans.

Company Overall RatingTimes Chosen
5KFunds4.252,736View Company
BadCreditLoans.com3.672,256View Company
Blue Trust Loans4.513,397View Company
Cash AdvanceN/A114View Company
CashUSA3.919,795View Company
Check Into Cash4.411,891View Company
Credit KarmaN/A0View Company
CreditFresh2.92,015View Company
Fast5KLoans4.04,125View Company
Figure4.3144View Company
FunderaN/A8View Company
Jora Credit4.26,117View Company
LendKey4.6621View Company
LendYou.comN/A587View Company
LoanBuilderN/A6View Company

Because bad credit lenders consider lending to people with poor credit scores riskier, they generally charge higher interest rates and fees.

Can You Borrow From A Regular Lender? 

If you have a short credit history or a poor credit record due to late or missed payments, bankruptcy, severe delinquency, or maxed out credit cards, your application for a loan from a regular lender like a bank, is likely to be rejected.

This limits your borrowing options and you may need to apply for a bad credit loan.

What Is Bad Credit?

Bad credit generally refers to a person’s credit score being less than 580.

This score is often referred to as your FICA score and is calculated using information from your credit reports, which summarize your borrowing history.

They help lenders decide whether or not to approve loan applications and influence the loan terms.

Note: Most regular lenders will not consider lending to people with credit scores below 580.

Sometimes, even slightly higher scores will not lead to a successful application. Even an application to a bad credit lender is not guaranteed to be successful.  

What Are Bad Credit Loans?

Bad credit loans are loans made to people who do not qualify for loans from regular lenders due to their low credit scores.

Fortunately, the recent financial revolution has made it possible to apply for various types of loans for bad credit.

A big advantage of personal loans for borrowers with a bad credit history is that they bear a lower interest rate than credit cards, making them a financially better option.

There are various types of bad credit loans online. They vary in terms, interest rates, fees, and whether they are secured or not.

If they are secured, you will need to put up collateral such as an asset you own like a house or car that the lender may claim if you default on the loan.

However, most bad credit loans are unsecured, so if you don’t own an asset, this needn’t put you off applying for the loan. 

A benefit of bad credit loans online is that they allow borrowers to build better credit ratings through manageable payment options over time.

Online loans for bad credit differ from payday loans, often requiring a lump-sum repayment on the borrower’s next payday, allowing the borrower to spread out their payments.

When a borrower makes their payments on time, the lender will report it to one or several of the credit-reporting agencies, which can increase the borrower’s credit score.

This has a positive effect on the likelihood and terms of any future borrowing.

How Do I Compare Bad Credit Lenders?

It is always wise to compare lenders before settling for one lender, as rates can vary significantly between loans with bad credit.

One may have lower payments, but the lender may have spread it out over more time, resulting in the borrower paying more interest.

Use our comparison calculator tool to find the best bad credit loans for your situation. Some of the best loans with bad credit have the following terms:

  • No limits on how the borrower can use the loan.
  • Interest rates are lower than payday loans.
  • Require no collateral, so you won’t risk losing your property if you default.
  • Flexible installments you can comfortably meet over a period of time.

Because of the variable factors involved, you will need to shop around thoroughly when looking for a suitable loan with bad credit. 

Bad Credit Loans FAQ

Can I Get An Emergency Bad Credit Loan Quickly?

Sometimes you need money as soon as possible to help resolve your financial emergencies, and you don’t have the time to go through the whole brick-and-mortar loan process.

Applying for bad credit loans online can be the perfect solution. The process generally takes between one day and a week.  

Find out more about emergency lending here.

Can I get a personal loan with a credit score of 550?

It’s possible. There aren’t many lenders who offer loans to borrowers with credit scores lower than 550 and some may require a co-signer. If you know you have a bad credit score, check your credit score and see how you can improve your credit before applying for a personal loan.

How much can I borrow with bad credit?

Lenders will typically assess your application and determine what you qualify for by looking at your income and creditworthiness. You may not qualify for a high credit limit if you don’t have a good credit score and you may also pay a higher interest rate than high-qualified borrowers.

Can I apply for a loan with no credit check?

While most lenders require a credit check, there are some loans that don’t. These lenders, instead, look at your ability to repay the loan. You may also be required to provide collateral for the loan. No credit check loans are available through payday lenders, online lenders, and auto title lenders.

How do I fix my bad credit score to get a better loan?

Some ways to improve your credit score include paying off existing debts, disputing any inconsistencies and errors on your credit report, reducing credit card spending, and limiting the number of new credit applications you make.

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