FAST LOANS FOR BAD CREDIT: The Top 2023 Picks, Updated!


Emergencies don’t care if you have good or bad credit. Even if your credit score isn’t perfect, you may need to borrow money from time to time. There’s good news and bad news for you if you’re in that situation. The good news is that people with bad credit can get fast loans from a number of lenders. The bad news is that you’ll have to sift through many lenders first, and the loans may be more expensive. Lenders frequently offer a range of interest rates, and if you have bad credit, you are probably looking at the top of that range.

However, if you find the right lender, borrow an amount you can afford to repay and make all of your payments on time, you may end up with a higher credit score. So that we could help you, we looked at the best lenders who offer fast loans to people with bad credit.

What are Bad-Credit Loans?

When you apply for a personal loan, most lenders will look at your credit score and how trustworthy you are in general. They often have low credit score requirements, which makes it harder for people with bad credit to get these loans. Other lenders, on the other hand, provide personal loans for people with negative credit, which means you can still qualify for a loan even if your credit is bad.

When applying for a loan, people with poor credit are frequently stuck with higher interest rates and other less-than-ideal stipulations. It is normally tough to qualify for a loan if you have bad credit.

Lenders who are willing to lend you money despite your bad credit typically offer bad credit loans with fixed interest rates. These loans can help you develop credit, allowing you to qualify for better loan terms and other financial opportunities in the future.

Fast Loans for Bad Credit

Fast loans are personal loans that are used to pay for unexpected costs like medical care or home repairs that need to be done right away. These loans are often funded within a few days following approval.

Payday and car title loans are riskier than personal loans for emergencies. The lenders featured below will assess your repayment capabilities and cap annual percentage rates at 36% or lower, making them more affordable and less risky than other high-interest loans.

We looked at more than 35 personal loan companies to find the best quick loans for people with bad credit. We chose these lenders based on things like minimum credit score requirements, APR ranges, loan amounts, financing time, and their ability to help applicants build credit.

#1. Upgrade

We prefer Upgrade because it’s more lenient on bad credit than most lenders, and it offers several options to save money if you’re more digitally inclined and looking to switch banks. If you open a new Rewards Checking account and choose to make automatic payments from that account, you will receive interest rate savings ranging from 0.10% to 1.00%.


  • Rapid funding
  • A diverse choice of loan options
  • A discount is granted for creating rewards checking account.


  • There will be no short loan terms.
  • Levies a hefty origination cost

#2. First Tech Federal Credit Union

First Tech personal loans have a lot to offer. Other than providing same-day funding in many circumstances, you also have the option of making no payments for the first 45 days—which can be extremely helpful if you’re in the midst of a financial emergency. You can use the funds for whatever you choose, as long as you are not using them for school, illegal activities, gambling, purchasing stocks, or business purposes.


  • Rapid funding
  • Everyone is eligible to join.
  • Co-signers and joint applicants are permitted.


  • There are no rate savings available.
  • Must keep a savings account with a minimum balance of $5.
  • Loan usage restrictions

#3. Rocket Loans

Rocket Loans’ interest rates and costs are on the higher end of the scale, with origination fees of up to 7% of the loan amount. If you have bad credit, it may also be harder to get approved because you can’t rely on a good friend or family member with better credit. You can’t apply together or have someone co-sign for you.


  • Funding is accessible on the same day.
  • Autopay discount
  • Resources for natural disaster victims


  • There is an origination fee charged.
  • Does not permit joint applications or co-signers
  • Not available in Iowa, Nevada, or West Virginia

#4. Navy Federal Credit Union

Navy Federal Credit Union is an excellent alternative for a personal loan if you are a member of the military (or are related to someone who is). You must be a credit union member, but once you have an account, you can obtain your funds quickly following approval, usually on the same day. It also provides a rate reduction for active-duty military personnel.


  • Funding on the same day
  • A diverse choice of loan options
  • There is an active military discount available.


  • There is no pre-qualification available.
  • Membership is not open to everyone.
  • There will be no job losses or natural disaster assistance.

#5. Avant

Most of Avant’s customers have credit scores between 600 and 700, but the company may work with you if your score is as low as 550. That’s great news if your credit isn’t perfect and you don’t have someone you can ask to be a co-signer or joint applicant, because Avant doesn’t allow that in any case.


  • Short funding cycles
  • Short approval times
  • Facilitate acceptance for applicants with poor credit.


  • It is not available in every state.
  • There are no rate savings available.
  • No co-signers or joint applicants are permitted.

#6. OneMain Financial

Even though OneMain Financial does not provide the cheapest loans, it does have advantages, especially if you have bad credit. There are many ways to get around a low credit score, such as applying with a co-borrower or joint applicant or putting up collateral for a secured loan. Borrowers at OneMain Financial often use a vehicle for this, but it must first be appraised, and you must pay for full coverage insurance on it while paying off the loan, which is more expensive.


  • Provides secured loans
  • Available branch locations
  • Enables joint applications and co-signers


  • It is not available in every state.
  • Assesses an origination charge.
  • There are no rate savings available.

#7. Upstart

When you apply for a loan, Upstart will consider your credit, but it will work with you regardless of your credit score—even if you don’t yet have one, as if you’re a young adult or a newcomer to the country. This is also a good thing because you cannot apply for a loan with a co-signer or co-borrower.


  • Does not necessitate a credit check
  • Enables you to have up to two loans open at the same time.
  • Support to job loss and natural-disaster victims


  • There are no rate discounts available.
  • Does not exist in Iowa or West Virginia.
  • There can be no joint applicants or co-signers.

#8. LendingPoint

Most lenders will only approve you for one loan at a time, but if you qualify, LendingPoint may allow you to acquire a second loan. You must contact customer service to inquire about this; you will not be able to apply online.

When you apply, LendingPoint will look at your credit score, but it doesn’t say what the cutoff point is. However, because you cannot apply with a co-signer or joint application, you will have to qualify on your own.


  • Short funding periods
  • A diverse choice of loan options
  • You may be eligible for more than one loan at the same time.


  • There are no rate discounts available.
  • A large origination fee may be charged.
  • Does not permit joint applications or co-signers

How to Obtain a Fast Loan with Bad Credit

A low credit score (less than 630) does not immediately disqualify you from getting loans, but many lenders consider your credit score extensively when reviewing your application. Here are some pointers on how to obtain fast loans for those with bad credit.

#1. Add a co-signer or co-borrower

A co-signer or co-borrower can improve your chances of qualifying for or obtaining a favorable interest rate. A co-borrower has equal access to the funds but not a co-signer. If you are unable to make loan payments, the co-signer or co-borrower assumes responsibility.

#2. Add collateral

Some lenders provide secured personal loans and evaluate applications based on the collateral (often a bank account or vehicle). Adding collateral can enhance your chances of qualifying, but if you miss too many payments, the lender can take the collateral.

#3. Sum up your sources of income

Your monthly salary is also a significant consideration in your application. Most lenders want to see that you have enough money to cover your regular bills, make your new loan payment, and still have some money left over. Social Security, alimony, and child support are all considered income by many lenders.

How to Choose Fast Loans for Bad Credit

#1. Determine the monthly payment.

Assess how the loan’s monthly payments would affect your budget to see if you can pay it off on schedule. Use a personal loan calculator to see how the interest rate and length of time it takes to pay back the loan affect the monthly payment.

#2. Examine interest rates.

The loan with the lowest APR has the lowest overall cost. You can use APR to compare emergency loans to other types of financing. A long-term loan may appear enticing since it has a low monthly payment, but it also costs more in total interest. Search for a loan that combines low monthly payments with low-interest rates.

#3. Check for fees.

An origination charge is the most common fee to check for on a personal loan. This can range from 1% to 10% of the loan amount and may be deducted from the loan before you receive the funds.

#4. Ask about the funding timeline.

Choose a lender that provides quick funding if you require funds right now. Some lenders can fund a loan the same day it is approved, while others can take up to a week. The timeline is frequently disclosed by online lenders in a FAQ or blog part of their websites.

Where to Get Fast Loans for Bad Credit

#1. Online lenders

Online lenders typically let you verify your interest rate before applying and provide a quick application process. Predatory lenders, on the other hand, will try to take advantage of your situation. Find a reliable lender with rates capped at 36%, which is the highest APR most consumer advocates think affordable loans can have, and check your credit and income to make sure you can pay back the loan.

#2. Banks

Several banks prefer customers with strong or exceptional credit (690 or better). However, there are certain exceptions. Some large banks, such as the US Bank and Bank of America, provide minor loans to address emergencies. You must already be a customer to get this kind of loan, but the fees are much lower than those charged by payday lenders.

#3. Credit unions

Credit union members may have the most affordable emergency loan option. Personal loan APRs are capped at 18% at federal credit unions, which is lower than many online lenders. To make a loan decision, a credit union may evaluate an applicant’s membership history in addition to their credit and income. Some credit unions provide payday alternative loans, which are small-dollar loans with low-interest rates that are repaid over six months to a year.

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

Payday loans, pawnshop loans, and car title loans are also options, but they cost a lot. On the other hand, personal loans may have the lowest interest rates among easy-to-get loans.

How Can I Borrow Money Immediately?

Personal loans, cash advances online, payday loans, pawn shop loans, and loans from banks or credit unions are the most popular methods for borrowing money quickly. But be wary of cash loan options that offer a speedy loan with no credit check.

How Can I Get a Personal Loan with Bad Credit ASAP?

Online lenders, as well as a small number of banks and credit unions, generally provide loans for those with bad credit. Upstart, OneMain Financial, Avant, LendingPoint, and Upgrade are a few of the lenders that provide loans to those with bad credit.

Which Loan Company is Best for Bad Credit?

  • BadCreditLoans
  • CashUSA
  • PersonalLoans
  • Upgrade
  • Avant

Can I Apply for a Loan with a 500 Credit Score?

Yes. secured personal loans. These loans are available with a credit score of 500 since they need collateral that the lender can keep if you default on the loan, putting the lender at a low risk.

Are There Any Loans for a 500 Credit Score?

OppLoans and Integra Credit offer the best personal loans for a 500 credit score. When you request a loan, these organizations will not even run a credit check because they specialize in lending to people with bad credit.


Although fewer lenders offer emergency cash loans to people with bad credit, there are still plenty of options. Your bank is often a smart place to start, and many, including U.S. Bank, Navy Federal, and First Tech FCU, offer emergency loans for people with bad credit.

However, Upgrading stands out as an exceptional lender. It works with people who have bad credit and offers ways to lower loan costs. Its other financial products can also help you save money in the long run.


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