Installment Loans for Bad Credit

Personal Loans

Bad credit can feel like a burden that prevents you from securing the funds that you need. As you search for an installment loan to meet your financial needs, you might feel discouraged by your lack of options.

However, that doesn’t have to be the case. Many lenders are willing to provide online installment loans even if you have bad credit. Read on to find out more about your options.

Best Installment Loans for Bad Credit

Although none of these lenders are guaranteed to provide you with an installment loan, many will likely be willing to work with you. Check out these lenders that may be able to help you get an installment loan with bad credit.

MoneyMutual

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  • Loan Amount
    Up to $5,000
  • Loan Term
    Varies
  • APR
    Varies

Features & Benefits

  • Application takes less than 5 minutes
  • Get a decision on your loan within minutes
  • Funds are available within 24 hours
  • Trusted by more than 2,000,000 borrowers

MoneyMutual is an online marketplace of lenders. They make it quick and easy to find a short term cash advance loan in as little as 24 hours.

One application can potentially get you multiple loan offers. MoneyMutual has been trusted by more than two million customers. They serve borrowers with bad credit from all 50 states except New York and Connecticut.

BadCreditLoans.com

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  • Loan Amount
    $500 – $10,000
  • Loan Term
    3 – 60 months
  • APR
    5.99% – 35.99%

Features & Benefits

  • No cost to check loan approval
  • High approval rate despite credit history
  • Funds available as soon as next business day
  • Assisting people with bad credit since 1998

Bad Credit Loans is an online lender marketplace that allows you to connect with multiple lenders by filling out a single application. The service is 100% free.

Once you’re approved, your lender will provide you with the APR, loan fees, and other terms. Read through the terms, compare all the offers you’ve received, and only accept the loan you’re most comfortable with. You are not obligated to accept the personal loan from any lenders that you are matched with.

CashUSA

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Features & Benefits

  • Flexible borrower requirements
  • Loan request can be approved within minutes
  • Money deposited as early as 1 business day
  • All credit types accepted

CashUSA connects borrowers with lenders. Each application is sent to the lender most likely to lend to the borrower. Because it works with a variety of credit profiles, it is not only a poor credit loan broker.

Interest rates vary depending on the lender, so make sure you read through the terms for each emergency loan before you choose. Applying online only takes a few minutes, and funds are often available the next day.

Avant

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  • Loan Amount
    $2,000 – $35,000
  • Loan Term
    24 to 60 months
  • APR
    As low as 9.95%

Features & Benefits

  • Fast approval
  • Funds available next business day
  • Trusted by over 600,000 satisfied customers
  • No prepayment fees

Avant is a direct lender that specializes in borrowers with bad credit. Loans are frequently used to consolidate debt, but Avant’s shorter-term loans also work for financial emergencies.

Most users report an average of a 12-point increase in their credit score within six months of taking out a loan. An installment loan that reports to the credit bureaus can be an effective way to repair your credit each month.

Credit Loan

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  • Loan Amount
    $250 – $40,000
  • Loan Term
    Varies
  • APR
    Varies

Features & Benefits

  • Funds deposited directly into your account
  • Get money as soon as the next business day
  • Loans for poor credit or good credit
  • More than 750,000 customers since 1998

CreditLoan works with many borrowers to find the best match for their situation. Although CreditLoan is not a direct lender, the platform can help you find a lender that is willing to work with you.

With CreditLoan, you might be able to secure a small loan to cover your needs. The company is generally successful in finding a lender match. With over 750,000 loans funded by CreditLoan, you have a great shot in finding the perfect match.

NetCredit

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  • Loan Amount
    $1,000 to $10,000
  • Loan Term
    Varies
  • APR
    Varies

Features & Benefits

  • Poor credit or little credit history is OK
  • Excellent customer reviews
  • No prepayment penalties
  • Only available in 37 states

NetCredit is a direct lender that might be able to fund your needs quickly. Plus, if you change your mind about the loan, you will be able to return it within one business day.

If your needs can be covered with a loan of $10,000 or less, then you should consider working with NetCredit. They also offer lines of credit to customers in some states.

Bottom Line

Securing an online installment loan can be a challenge. However, it is completely possible to find the funds you need without a big hassle. As you look for funding, you will notice that borrowers with good credit scores have more options with better interest rates. Consider working to improve your credit by paying down debt and paying your bills on time.