If you believe that getting an online loan with bad credit is impossible, then you are wrong. There are no guarantees that you will get instant approval on your loan request, or any approval at all, but this doesn't mean that you have zero chances of getting a loan offer with acceptable APR. Bad credit score can make it harder to find a direct lender with attractive instant loan offers, but it's worth giving it a try.
A bad credit loan is any personal loan which can be taken even if you have a poor credit score. Bad credit direct lenders consider additional factors besides your creditworthiness, such as income sources and amount of current debts, when deciding whether to guarantee you a bad credit loan or not.
Each lender has its own application evaluation process in place, so the more lenders you get in touch with, the better chances you have of being approved. 67CashToday can help you get in front of dozens of lenders with a single loan application.
The short answer is no. There is no way you can get a guaranteed loan with instant approval because no lender can guarantee that your application will be approved. If the lender believes that the risk of non-payment for you is remarkably high, then your application will get rejected.
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Bad credit loan applications are tricky because it is harder for the lender to understand the creditworthiness of the borrower, which results in lower approval rates and higher interest rates for those, who get approved with poor credit score.
Here are some recommendations which can guarantee you better chances when applying for loan with a bad credit score:
If you have a bad credit score then for sure you would want to avoid any lenders, who may do a hard credit check on you and damage your credit history even more.
Though most of our lenders do only a soft credit check, which means that it will not harm your credit score, there is no guarantee that some lenders may not do a hard check.
The easiest way to apply for an online loan with bad credit is to use a broker or a loan-matching service like 67CashToday, because this way the service does all the work for you for no additional cost.
1. To get started with the application, please complete this online request form.
2. When submitted, you will get an automatic pre-qualification decision in minutes.
3. If approved, the lender will contact you with a loan offer and terms. Sort all the paperwork and sign the agreement online.
4. Get your funds and remember to repay your loan according to your agreement with the lender.
Please be informed that some lenders perform a hard credit check on you which may harm your credit score. If you are looking for a no hard credit check bad credit loan with guaranteed approval, then consider taking a secured loan instead.
If you go with unsecured loans, then the maximum amount that you can borrow depends on the lender, type of loan you select and state regulations.
If need a small payday loan, then check out $100 - $100 payday loans
For example, if payday loans are legal in your state, then with 67CashToday you can apply for a bad credit payday loan online up to $1500 (the amount may be lower according to the limits set by state law).
An installment loan is another option which is popular among people with bad credit. For monthly installment loans you can opt for a loan up to $5000 which should be paid back in fixed monthly installments. Both types of loans are unsecured, thus require no co-signer or collateral.