Loans for Bad Credit

Compare monthly payment options from several lenders in under 2 minutes.
How much would you like to finance?
won't affect credit score

Check offers in seconds

Get pre-qualified for loan offers with an easy online form

Won't impact your credit

Checking offers will not impact your credit score*

Competitive payment options

Funding up to $100,000 and APRs as low as 3.99%*

Receive funds quickly

Same-day and next-day available for certain offers*

Acorn Finance Icon

Get Bad Credit Loans Online Easily

Loans for bad credit may be hard to find or expensive, but with a little effort on your end, you should be able to secure a loan. Personal loans for bad credit are not always recommended but in some cases, you may have no choice. Expenses never go away. Sometimes it seems like just when you have finished paying for one thing, another item pops up. You may have missed some payments and now have a bad credit score or maybe you have always had a bad credit score. Whatever your situation is, individuals with bad credit may still need to borrow money.

Quick. Simple. Secure.

How To Apply For Loans for Bad Credit

1 Pre-qualify

Fill out easy online form to check for pre-qualified offers with no impact to your credit score

2 Select offer

Compare terms and payment options to select offer that’s best for you

3 Finish application

Complete application process on your selected lender’s website*

4 Receive funding

After loan approval, your funds should arrive within 1-2 business days*


“The process couldn’t have been any easier. I filled out a short form that took me less than 2 minutes and within seconds I got multiple offers from lenders.”


- Mike T. (TN)

“It was important to me that I could review my offers without any impact to my credit score, before deciding on the best loan option.”


- Carol R (FL)

“I like the easy online and 100% paperless experience of Acorn Finance. I received my money two days after completing my application.”


- Bob S (WI)

Are you a contractor?
Generate more revenue with Acorn Finance.

Offer customers the ability to finance their dreams with zero dealer fees.


Learn More About Loans for Bad Credit

Bad credit is not something most lenders like to see, so can you get a loan with bad credit? What type of loan can you get? Where can you get a loan if you have bad credit? These are all great questions. Keep reading to get the answers!

Read more - FAQ

What Is a Bad Credit Loan?

A bad credit loan is usually no different than a good credit loan. However, the terms may be much different or you may have to submit more documentation. In some cases, you may even be required to provide collateral. If you have bad credit, you may want to consider a personal loan. Bad credit loans advance a loan amount that must be paid back at a prescribed interest rate in monthly installments. The rate is generally much higher, sometimes as high as 35.99%. There may be fees that you have to pay, like an origination fee or prepayment fees if you pay it off early. Often, the amount you can borrow is less than what you can borrow if you have good credit. Finally, the amortization period might be shorter.

What Types of Loans Can You Get With Bad Credit?

People usually get personal loans for bad credit. Sometimes they are unsecured, meaning the lender has not taken any collateral from the borrower. The borrower promises to repay the loan in monthly installments until it is paid off. Other lenders may grant a secured loan. In this case, the lender will take security from you, the borrower. It could be a title loan, meaning they take the title of your vehicle as security. It could be an asset like cash in a savings account or valuables like art or jewelry. Once you have paid back the loan, the lender will release the security back to you. If you don’t repay the loan, the lender keeps the asset and uses it to settle the debt.

Two other types of loans are payday loans and payday alternative loans (PAL). Payday lenders will lend you a small amount of money, but you have to give them a postdated check for the amount and any fees. The idea is that you repay the loan the next time you get paid. Interest costs can be as high as 400% per year for borrowers who fail to repay on time. A PAL is a loan you get from a credit union. You have to be a member of the credit union to get a PAL. A PAL lets you pay the loan back over a few months, and the rate is capped at 28%.

How much money can you borrow with bad credit?

The amount you can borrow with bad credit depends on several factors. The first is how bad your credit is. Some lenders have a credit score cut off of 550. OneMain can lend up to $20,000 to individuals with a poor to fair credit score, while LendingPoint can lend up to $36,500 to individuals with a poor to fair credit score. The amount you can borrow also depends on what you can afford. Your income can determine how much of a loan payment you can afford. Other things lenders look at are if you have collateral and if you have a cosigner. Having something to secure the loan can increase the amount you will be able to borrow. Having a cosigner gives the lender another borrower to pay the loan, so you may be able to borrow more.

Can you get a loan with no credit check?

You can get a loan with no credit check, but you need to be careful of what you are signing up for. Some loans that don’t require a check credit charge rates as high as 400%. The cost of these loans can put people into a cycle of never-ending debt repayment.

What Interest Rate Can I Expect If I Have Bad Credit?

If you need to get a loan with bad credit, your rate can range from 4.99%- 35.99%. It will depend on what your credit score is and if you can secure the loan with an asset. If you have bad credit, you may want to consider rebuilding your credit before applying for a loan.

Where Can I Get a Personal Loan with Bad Credit?

Having bad credit might leave you wondering, “where can I get a loan with bad credit?” You can apply for a loan with lenders like LendingPoint and OneMain. You can look at bad credit loans online too. Sometimes online lenders are more flexible in their lending criteria. To simplify the process of finding lenders and comparing offers, you should visit Acorn Finance. At Acorn Finance, you can check personal loan offers without impacting your credit score. Most of the Acorn Finance lending partners have a FICO cutoff of 600 or above.

Can bad credit make it hard for you to borrow money?

Poor credit does make it harder for you to borrow money. Lenders look at your credit score and see that you have had problems repaying your debts in the past. These issues make lenders reluctant to lend to people with bad credit. As a result, you can expect to pay a higher rate. You may need to secure the loan or get a cosigner; you may qualify for less and have to pay it off over a shorter time than if you had good credit.

How can I get a $3000 loan with bad credit?

If you need a small loan, there are some lenders who can fund them. Your best bet will probably be to use an online lender. You should start by checking your credit score. Once you know your credit score, you can research minimum requirements for different lenders. If your credit score is 600 or above, you should check offers at Acorn Finance. If your credit score is below 600, you should seriously consider rebuilding it before applying for a loan.

Can you get a loan with a 500 credit score?

It’s possible to get a loan or secured credit card with a credit score of 500. A secured credit card or auto loan is often easier to get for a borrower with a 500 credit score. The reason is that the lender can reduce their risk when they have an asset securing the loan. Be aware, though, that the cost of borrowing will be high. You may require a downpayment if you are not providing security, and there may be fees associated with the loan.

What are the best bad credit loan companies?

The best bad credit loan company for you will be the one that can lend you the amount you need at the best rate and with favorable repayment terms. While that may be a lot to ask for, the best thing you can do is figure out what is most important to you and go from there. In some cases, borrowing a certain amount of money may be most important. In some other cases, getting a certain monthly payment might be most important. LendingClub, Upstart, OneMain, and Universal, rate highly for bad credit loans.

Closing Thoughts

Getting a personal loan with bad credit can be challenging. You may not qualify for the amount you need, have to pay higher rates and fees, or secure the loan with collateral. If you don’t need to borrow money right away, consider taking some time to work on improving your credit score. If that’s not possible, try checking offers at Acorn Finance.
Do you qualify for a bad credit personal loan? Check offers now!


More home improvement financing options

Your home is a work in progress. Whether you wish to redo, repair or redecorate your home, we can make it all happen with the most effortless financing options.


Trending home improvement projects

Barn Financing Options