Esign Loans for Bad Credit

Do lenders check credit for signature loans?

Lenders can check credit when determining applicant eligibility for a signature loan. 

A signature loan, also known as an unsecured loan, considers the applicant’s signature as a promise to repay the loan without needing to put up any collateral. Since there are no assets tied to the agreement, lenders typically rely heavily on the borrower's creditworthiness when assessing their eligibility to repay a loan. This includes evaluating the borrower's credit history, credit score, income, debt to income ratio, and any other relevant financial factors. The credit check helps the lender determine the terms and conditions of a loan proposal, including the interest rate, loan amount, and repayment period. While a higher credit score can certainly help obtain a loan with more favorable terms, there are some lenders willing to extend offers for signature personal loans for bad credit borrowers.

What credit score do you need for e-signature personal loans? 

There are no uniform eligibility requirements among lenders that offer e-signature personal loans. Offers will be more likely to be returned for borrowers with fair, good, average, or excellent credit. Most lenders on the Acorn Finance platform have a credit score cutoff of 600 or above, with the exception of Upgrade who has a minimum credit score requirement of 560. 

How long does it take to get approved for a signature loan?

The timeframe for approval for a signature loan can vary between lenders and can heavily depend on their internal processes. Approval for an e-signature loan can happen as soon as the same day, but again, approval timelines may vary. Get started by getting prequalified in seconds at Acorn Finance. 

Why choose Acorn Finance for bad credit e-sign loans:

With a network of top national online lenders, we can help you check and compare offers with no credit impact. Take advantage of our safe, secure, and online platform and all we can offer. 

• Access to our network of top national lenders
• Freedom to check offers with no credit impact 
• Check offers up to $100,000, depending on credit score
• No spending restrictions 
• No prepayment penalties

How to apply for e-sign loans with bad credit:

So, you’ve made the decision to move forward with an e-sign loan with bad credit - what’s next?

#1. Check your credit score

Knowing what your credit score is can help you prepare for the types of offers you might return. If possible, work to boost your credit score before applying. Offers will be more likely to be returned for borrowers with fair, good, average, or excellent credit. Most lenders on the Acorn Finance platform have a credit score cutoff of 600 or above.

#2. Gather documentation

During the approval process, lenders may ask for proof of income, residency, and or identification. Gathering these documents ahead of time can help you complete your application as quickly and accurately as possible. 

#3. Get prequalified

When ready, head to Acorn Finance to get prequalified with no credit impact. In seconds, you can receive personalized offers up to $100,000, depending on credit score. With a network of lending partners, your chance of qualifying is greater than just applying to one lender at a time. 

Take action today and find the e-sign loan that best aligns with your financial goals. Don’t let bad credit hold you back, apply for an e-signature loan to bridge a gap between finances, take care of an unforeseen expense, or seize new opportunities.