9 Best Quick Loans for Bad Credit of 2024

Shopping for a great lender is difficult enough without having to find one that can get you the money quickly. Add an imperfect credit history to the mix, and you might start feeling totally overwhelmed by the prospect of finding the loan you need.

But fortunately, many lenders do understand that life happens — and that sometimes, you don’t have any time to spare. So, whether you’re looking for a cash advance or a personal loan, we’ve got you covered. Many of the firms below will overlook bad credit scores, and they can get the money to you within as little as a single business day after your application is approved.

Cash Advances and Installment Loans for Bad Credit

Chances are, if you’re reading this post, you’re already pressed for time. So, we won’t waste one more minute!

Here are some of the very best lenders to choose from when you need your funds quickly.


LetMeBank’s rating
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  • Loan Amount
    Up to $5,000
  • Loan Term
  • APR

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.


LetMeBank’s rating
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  • Loan Amount
    Up to $50,000
  • Loan Term
    24 – 84 months
  • APR
    8.49% to 35.99%*with autopay

Features & Benefits

  • Flexible eligibility requirements cater to a broad range of borrowers
  • Quick application process—receive a decision rapidly
  • Funds can be available as soon as one business day
  • Option to add a co-borrower enhances approval chances

Upgrade is a lending platform that provides personal loans with flexible terms and competitive rates. However, you must have a credit score of at least 600, so this lender won’t be an option for everyone.

The availability of co-borrowing also allows applicants to improve their chances of approval and possibly secure better rates. With loan amounts ranging from $1,000 to $50,000 and terms extending from 24 to 84 months, Upgrade offers substantial versatility to meet various financing needs.

Loans are approved quickly, and borrowers can access funds as soon as the next business day.


LetMeBank’s rating
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  • Loan Amount
    Up to $10,000
  • Loan Term
    3 – 72 months
  • APR
    5.99% – 35.9%

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. This platform caters to a diverse range of credit profiles, making it more than just a broker for those with poor credit.

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.


LetMeBank’s rating
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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.


LetMeBank’s rating
Apply Now
  • Loan Amount
    $1,000 – $35,000
  • Loan Term
    3 to 72 months
  • APR

Features & Benefits

  • Multiple loan types available
  • Fast loan decision
  • Funds deposited as soon as you accept an offer
  • Nationwide availability

You can get a loan through PersonalLoans.com with credit scores as low as 600. Each lender in their network offers its own unique interest rates.

The quick and easy online application only takes minutes. You’ll have a decision within a business day of submission.


LetMeBank’s rating
Apply Now
  • Loan Amount
    $200 to $10,000
  • Loan Term
    7 days to 12 months
  • APR

Features & Benefits

  • Response by email or phone within minutes of submitting request
  • Money deposited as soon as the next business day
  • High approval rate even with bad credit
  • Trusted since 1997

CashAdvance.com provides a free service that quickly connects customers with lenders that offer short-term loans that may work for them.

Whether you have an emergency or an unexpected expense, this online lender may be able to help you out quickly.

Specialized Bad Credit Loans: Auto Loans and Auto Loan Refinancing

Although unsecured personal loans can be used for just about any purpose under the sun, it’s sometimes a better strategy to choose a specialized loan designed for your specific purposes. Since auto loans give the bank collateral (in the form of your car), they often come at lower interest rates. This is even more important when you consider the high price of those items.

Many people mistakenly believe that auto loans are only available to those with good or excellent credit. Having a good credit score can certainly help you get better loan terms. However, it’s definitely possible to get the things you want even if your credit is below average. Here are some auto loan lenders that can help make your dreams come true, even if you’re not quite pushing 800.

Auto Credit Express

LetMeBank’s rating
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  • Loan Amount
    $20,000 – $45,000
  • APR
    3.99% – 29.99%
  • Loan Term

Features & Benefits

  • Minimum Credit Score: 400
  • Helps car buyers who have low credit scores, bankruptcies, or repossessions.
  • Allows cosigners

Auto Credit Express has been issuing bad credit auto loans since 1999. They work with a network of dealer partners to help you find an auto loan quickly. You can find auto financing even if you’ve filed for bankruptcy in the past or have no credit history.

To qualify, you must have a full-time job and earn at least $1,500 per month. You can submit a prequalification form online in as little as 30 seconds. Same day approval is available for a loan.

Keep in mind that Auto Credit Express will match you with a local lender after shopping around to help you find the best financing deal. They also won’t work with any private sellers, so you must consider financing a car from a dealer or legitimate car lot.


LetMeBank’s rating
Apply Now
  • Loan Amount
    $7,500 – $45,000
  • APR
    3.0 – 25.00%
  • Loan Term
    36 – 72 months

Features & Benefits

  • Help individuals with little to no credit
  • No monthly income requirements
  • Get approved in less than 30 minutes

Car.Loan.com offers fast and easy approvals if you’re looking to finance a car with bad credit. They’ve teamed up with the nation’s largest network of auto dealers who are trained in special finance.

The online application only takes 3 minutes to complete and same-day approval is available. There is no minimum credit score requirement. However, each lender has their own requirements, so your dealer options may vary.

Still, this is a solid option to consider since Car.Loan.com is geared toward borrowers with bad credit or no credit history.


LetMeBank’s rating
Apply Now
  • Loan Amount
    $8,000 – $100,000
  • APR
    3.69 – 21.00%
  • Loan Term
    24 – 72 months

Features & Benefits

  • Minimum Credit Score: 575
  • Up to 4 lender matches with a soft credit check
  • Get approved within as little as 30 seconds

MyAutoLoan.com offers bad credit auto loans for both used and new vehicles. This online lending network connects you with local dealers so you can get offers quickly.

They also have a free interest-rate estimate feature so you can get a clear view of what your interest rate might be given your current credit score.

Applying to finance a car with bad credit on the site is easy. Just select the type of loan you’re looking for, then complete a quick and secure online application. It generally takes less than a few minutes to receive a decision and compare offers for an auto loan.

When financial emergencies strike, a quick loan can be your lifesaver. But what happens when you have a bad credit score? The good news is, there are several loan options specifically tailored for those with less-than-perfect credit. Whether it’s for car repairs, home repairs, or unexpected financial needs, these loans provide a suitable solution.

Online lenders, credit unions, and even peer-to-peer lending platforms offer potential loan solutions for individuals with bad credit. Some lenders even approve loan applications and deposit funds on the same day, providing quick access to money for emergencies. It’s all about finding the best bad credit emergency loans that meet your urgent needs.

Online Lenders

One of the top quick loan options, including payday loan, comes from the digital world – online lenders. Online lenders like Upgrade offer a fast approval process for bad credit loans and short term loans, typically within one business day. Once approved, these lenders provide rapid disbursement, with funds often available as soon as the next business day.

The convenience and accessibility of online lenders, including a reputable online lender, make them an attractive option for many borrowers. Their optimized application procedures ensure a straightforward process, providing wide accessibility to potential borrowers. However, just like any other loan, online loans for bad credit should be affordable and fit within your budget.

Credit Unions

Credit unions can be a ray of hope for bad credit borrowers. These member-owned financial institutions offer unsecured personal loans, providing a borrowing option for individuals with various credit histories, including those with bad credit. Loans from credit unions like the Ent Credit Union feature rapid funding, terms up to 84 months, and accept low minimum credit scores, making them an attractive option for bad credit borrowers.

However, one key factor to remember is that to access these lending options, one must become a member of the credit union. This relationship-based approach to borrowing ensures that you get the best possible terms for your loan.

Peer-to-Peer Lending Platforms

Peer-to-peer lending platforms offer a unique alternative to traditional lenders. These platforms allow you to borrow from a group of individual investors rather than a single financial institution, making them a viable option for individuals with lower credit scores.

Platforms like Prosper and LendingClub cater to a diverse cross-section of borrowers. Prosper, for instance, has a minimum credit score requirement of 560, making it accessible for borrowers with low credit scores.

Moreover, LendingClub offers joint personal loans, which can be a viable option for individuals with bad credit as it may increase the chances of loan approval.

Secured Loans

Secured loans can be your ticket to qualifying for a loan even with a poor credit score. These loans require a valuable asset as collateral, providing a way for consumers with bad credit to secure funding. This can include assets like homes, cars, or savings accounts.

Securing a loan with collateral may qualify borrowers with poor credit for lower interest rates and better loan terms. However, it’s crucial to remember that failure to repay the loan could result in losing the asset used as collateral. Therefore, secured loans should be considered when you’re confident of your ability to meet the repayment terms.

Factors to Consider When Choosing a Quick Loan for Bad Credit

When choosing a quick loan for bad credit, it’s essential to analyze factors such as:

  • Interest rates
  • Repayment terms
  • Fees and charges
  • The lender’s reputation

This will ensure that you don’t just settle for the first loan offer you come across but rather find a loan that suits your financial situation best.

Due to their bad credit standing, borrowers can generally expect to face higher interest rates. That’s why selecting the shortest loan term that is affordable can reduce the overall interest burden. It’s also important to evaluate lenders, including:

  • their customer support
  • the user experience during the application
  • the speed of funding
  • any costs and fees involved

Interest Rates

The interest rate is a significant factor in determining the total cost of your loan. It’s crucial to understand that bad credit borrowers typically face higher interest rates. APRs for emergency loans can range from approximately 6% to 36%, demonstrating a significant variation based on:

  • the lender
  • creditworthiness
  • loan amount
  • terms

That’s why it’s crucial to compare annual percentage rates (APRs) for an accurate assessment of total loan costs. This will ensure that you don’t end up paying more than necessary for your loan.

Repayment Terms

The loan term is another important factor to consider when choosing a quick loan for bad credit. Repayment length can range from a couple of weeks to several years, depending on the loan terms and the lender.

Longer repayment terms generally result in smaller monthly payments but can lead to paying more total interest. On the other hand, shorter terms can have higher monthly payments but lower overall interest costs. Therefore, it’s important to choose a term that aligns with your financial capacity and reduces the overall interest burden.

Fees and Charges

Beyond interest rates, it’s also important to consider the various fees and charges that could be involved in a loan. Origination fees, for instance, are a common cost associated with taking out personal loans. Late payment fees vary by lender and can add up if you miss multiple payments.

Also, while prepayment penalties are generally not common for personal loans, it’s still important to check for them before finalizing a loan agreement. Understanding these costs can help you avoid unexpected expenses and make your loan more manageable.

Lender Reputation

Finally, when choosing a quick loan for bad credit, it’s crucial to consider the lender’s reputation. Working with a reputable lender is essential to avoid financial complications and to ensure protection.

Reading online loan lender reviews is an essential part of the lender research process. It’s also important to find lenders who focus on income rather than credit score, and to review their reputation and compare terms and conditions.

How to Apply for a Quick Loan with Bad Credit

Now that you understand the different loan options available and the factors to consider when choosing a loan, let’s go over how to apply for a quick loan with bad credit. The process involves preparing necessary documentation, checking your credit score, and comparing loan offers.

Choosing a lender that offers fast funding is crucial, especially for borrowers with urgent financial needs. It’s also important to understand that when applying for an unsecured loan, lenders will weigh factors such as credit history, income, and debt obligations during approval.

Gather Necessary Documentation

The first step in the application process is gathering the necessary documentation. To complete the application, you will need to provide proof of income, such as W-2s and pay stubs, as well as a government-issued ID and proof of address..

Having these documents prepared in advance can help streamline the application process and improve the chances of quick approval. It’s always better to come prepared to ensure a smooth and hassle-free application process.

Check Your Credit Score

Before applying for a credit score loan, it’s essential to check your credit score. This will help you assess your likelihood of approval and potentially avoid unnecessary credit inquiries.

Remember, the minimum credit score for obtaining a loan with online lenders like Avant is typically around 580. Knowing your credit score beforehand can save you from unexpected loan rejections and help you find a loan that best fits your credit profile.

Compare Loan Offers

Finally, don’t forget to compare loan offers. This involves evaluating interest rates, fees, and loan terms across different lenders to find the most suitable loan offer.

Prequalification allows borrowers to compare potential loan offers and terms without impacting their credit score, as it involves only a soft credit check. This way, you can ensure that you’re getting the best deal possible for your financial situation.

Alternatives to Quick Loans for Bad Credit

While quick loans for bad credit can provide immediate financial relief, it’s also worth considering other alternatives. These may include credit card cash advances, borrowing from friends or family, and financial assistance programs.

Each alternative has its pros and cons, and the best option for you will depend on your individual circumstances. Let’s explore these alternatives to see if they might be a better fit for your financial needs.

Credit Card Cash Advances

Credit card cash advances are loans from your card issuer that can provide immediate access to funds without needing to use a bank account. However, these transactions come with high interest rates from the date of the transaction and may also come with transaction fees.

It’s also important to note that:

  • The limits for cash advances are usually a percentage of your available credit limit
  • Credit card cash advances can offer immediate access to cash
  • They should only be used as a last resort due to their high costs.

Borrowing from Friends or Family

Borrowing from friends or family can offer financial relief without the need for interest payments, making it more affordable than a personal loan. However, borrowing money from people you know can strain relationships, especially if repayments are late or cannot be made.

It’s important to set clear terms and ensure both parties are comfortable with the arrangement to maintain the relationship. If done right, this can be a viable option for quick financial assistance.

Financial Assistance Programs

Financial assistance programs offer another alternative to quick loans for bad credit. These programs exist to support individuals who are struggling financially by providing them with aid.

Assistance can come in various forms, including direct cash aid, subsidies, and grants designed to ease financial burdens. Local community organizations and the national government provide several of these programs, offering short-term aid or hardship grants for those in immediate need.

Tips for Improving Your Credit Score

While quick loans for bad credit can provide immediate relief, it’s also important to work on improving your credit score. A higher credit score can open up more financial opportunities and allow you to secure better loan terms and interest rates in the future.

Improving your credit score involves practicing responsible financial habits. This includes making on-time payments on your loans, reducing your overall debt levels, and monitoring your credit reports regularly.

Pay Bills On Time

One of the most effective ways to improve your credit score is to pay your bills on time. Your payment history constitutes 35% of your credit score calculation, which means that making timely payments on your bills can significantly boost your credit score.

Budgeting for bills, becoming current on missed payments, and possibly seeking assistance from creditors or credit counseling services are recommended strategies to ensure timely payments. Regularly checking your credit reports can also help ensure that your payment history is accurately recorded and positively influences your credit score.

Reduce Debt Levels

Another effective way to improve your credit score is to reduce your overall debt levels. This involves prioritizing the payment of high-interest debts and minimizing new borrowing.

Adopting deliberate debt reduction strategies and avoiding new debt commitments are essential steps towards financial health. It’s also beneficial to use additional income sources, such as bonuses or tax refunds, to accelerate the process of debt reduction.

Monitor Credit Reports

Lastly, it’s crucial to regularly monitor your credit reports from credit bureaus. This can help you identify any errors and spot opportunities for improving your credit scores.

Maintaining low credit card balances relative to your credit limits, ideally under 30%, can also boost your credit scores. Tools like LendingTree’s free credit monitoring service and Upgrade’s Credit Health tool can help you maintain a healthy credit score by providing budgeting insights and personalized recommendations.


Securing a quick loan with bad credit might seem like an uphill battle, but with the right knowledge and approach, it’s definitely achievable. From online lenders and credit unions to peer-to-peer platforms and secured loans, there’s a multitude of options available, each with its unique advantages. Remember, the key lies in understanding your financial situation, choosing an affordable loan, and practicing responsible financial habits. There’s no one-size-fits-all solution, but with patience and perseverance, you can navigate the financial landscape and secure the funds you need.

Frequently Asked Questions

What are some quick loan options for those with bad credit?

Consider online lenders, credit unions, peer-to-peer lending platforms, and secured loans as quick loan options for bad credit. Each option comes with its own benefits and factors to consider.

What factors should I consider when choosing a quick loan for bad credit?

When choosing a quick loan for bad credit, consider factors such as interest rates, repayment terms, fees and charges, and lender reputation. These factors will help you make an informed decision.

What are some alternatives to quick loans for bad credit?

Consider alternatives such as credit card cash advances, borrowing from friends or family, and financial assistance programs to avoid quick loans for bad credit. Each option has its own advantages and considerations.

How can I improve my credit score?

You can improve your credit score by making on-time payments, reducing overall debt, and regularly monitoring your credit reports. Start with these steps to see improvement.

What are some tips for applying for a quick loan with bad credit?

Make sure to gather all necessary documents, assess your credit score, and compare different loan options before applying. Additionally, choose a trustworthy lender and ensure that the loan aligns with your financial situation.