You don't have to worry about covering an emergency. Nonetheless, whether you have bad credit, sometimes you must borrow money to cover these emergencies.
Thankfully, there are options available for borrowers with bad credit. Bad credit quick loans can provide a quick solution to help you cover these expenses without waiting weeks or months for approval. Here are our best picks.
●
24/7 Installment 4.9 - 
- Best Overall Bad Credit
Quick Loans
●
LifeLoans 4.8 - 
- Best for Same-Day
Funding
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100Lenders 4.6 - 
-
Best for No-Credit-Check Cash Advance Loans
247
Installment Loans
Rating: 4.9
247 Installment
Loan is a solid choice that provides a variety of quick loans for bad credit
options to help you finance your needs. This installment loan marketplace has
lenders that offer easy loans of up to $35,000, with an APR that varies by each
lender. In addition, the minimum credit score required to be approved for a
loan also varies by the lender.
One of the best aspects of 247 Installment is that you can get an
instant loan decision in as little as 90 seconds, making applying for a loan
much faster and easier than other lenders. The customer service team can also
help with any questions or concerns.
The terms of their installment loans are described once your
application request is approved. Additionally, if you need to pay early, you
can do so without fees. Overall, 247 Installment Loan is a great choice for
those looking for bad credit quick loan options.
How to Apply:
Applying for a loan with 247 Installment Loans is simple and fast. Get
started by doing what follows.
● Start by filling out a short online form to be connected with a legit lender.
● Wait for the lender's decision which usually comes in minutes.
● If your loan application is successful, the next step is to sign your loan agreement electronically. Your bank account will typically see the money by the following business day.
● If you are matched with a lender, the lender will reach out to you to finish the process, review the loan's terms, and go over repayment choices.
Eligibilities:
To be eligible for quick loans for bad credit at 247 Installment
Loans, you must:
● Be at least 18 years old.
● Have a minimum monthly income of $800.
● Possess U.S. citizenship or permanent resident status.
● Have a checking or savings account that accepts direct deposits.
● Provide an active phone number and valid email address.
● Have a valid Social Security Number.
Highlights:
● Most 247 Installment Loans borrowers appreciate the company's fast loan decision, the simple online application process, and excellent customer service. You will get an instant loan decision in as little as 90 seconds.
● 247 Installment Loans enable borrowers to shop for the most preferred lenders and, therefore, their best quick loan rates.
● Bad credit borrowers can find loan options from the various lenders available on 247 Installment Loans.
● There are no prepayment penalties, so that you can make payments early without extra fees.
● The lender provides high loan amounts of up to $35,000.
Pros:
● 247 Installment provides a loan decision in as fast as 90 seconds.
● The lender provides high loan amounts of up to $35,000.
● Bad credit borrowers can find loan options from the various lenders available on 247 Installment Loans.
● There are no prepayment penalties, so that you can make payments early without extra fees.
Cons:
● The APR varies by lender and can be quite high for those with bad credit.
● The minimum credit score required for approval also varies by lender.
Life Loans
Rating: 4.8
Life Loans is another loan comparison site that offers quick cash
loans for bad credit within 2 minutes. The company offers cash advances &
installment loan amounts of between $100 and $40,000, with an APR ranging from
5.99% to 35.99%. In addition, Life Loans provide a repayment term of 3 to 60
months.
Most companies do not credit checks to borrowers. The application
process is straightforward, making it easy for borrowers to compare loan offers
and select the best one. Life Loans has a customer service team available 24/7
to answer any questions or concerns that may arise during the loan process.
Most lenders do not charge origination fees and prepayment fees.
However, you must meet your payments on time to avoid late fees. Life Loans
offer a convenient and reliable loan option for those with bad credit.
How to Apply:
To apply for a loan through Life Loans, you must fill out an online
application form that includes your personal information and financial details.
Additionally, you will need to submit documents such as proof of income and
bank statements.
After that, the platform will recommend you to your most suited
lenders, where you choose the most suitable loan offer for you. Lastly, you
will need to sign the loan agreement with your lender and get your loan
approved in 2 minutes.
Eligibilities:
While every personal loans company has its eligibility criteria, here
are the general requirements to be eligible for an easy loan for bad credit at
Life Loans:
● Must be at least 18 years old.
● Have a valid social security number or ITIN.
● A valid form of identification such as a driver's license or passport.
● Have an active checking account in your name.
● Having a regular monthly income of at least $1000.
● Up-to-date personal and professional contact information.
● Employee status that has been active for the past four weeks.
● Possession of a valid, current bank account in one's name.
Highlights:
● A quick and easy loan application process.
● Loans up to $40,000.
● You can compare loan offers from multiple lenders.
● No credit check is required.
● 24/7 customer service team.
● Affordable APRs up to 35.99%.
● Flexible terms between 3 and 60 months.
Pros:
● Life Loans has a fast loan approval time of 2 minutes.
● Loans are available with no credit check, making it ideal for those with bad credit.
● It is easy to compare loan offers from multiple lenders in one place.
● The customer service team is available 24/7 to assist with any questions or issues.
● Life Loans offer competitive quick loan rates of up to 35.99%.
● Has a longer repayment term of up to 60 months.
● No loan origination fees.
Cons:
● To qualify, you must have an average monthly income of $1,000 or higher.
● Pay fees may incur if you fail to meet your payments on time.
100Lenders
Rating 4.6
100Lenders is a loan comparison website that offers easy
bad credit loans online of up to $40,000. This loan marketplace provides payday
loans, installment loans, and personal loans.
Your credit history, regular income, and applicable state
law determine the APR and cost of a quick loan at 100 Lenders. The amount you
borrow and the payback period also affect your annual percentage rate.
During the loan application process, you will be directed
to the loan agreement between you and the lender or lending partner, where the
terms of your loan will be disclosed in full. Your lender and financing partner
will keep this information confidential. Unfortunately, not all borrowers will
qualify for a loan, and even fewer will fulfill the requirements for our most
attractive loan packages.
100 Lenders stands out from the competition because of
its streamlined and user-friendly application process. The loan approval time
is typically 2 minutes but can vary based on your lender's lending criteria.
Additionally, your credit report will not be used to
evaluate your eligibility for a loan with 100 Lenders.
While most lenders don't charge origination and
prepayment fees, you may incur late payment fees if you make your loan payment
late.
How to
Apply:
To apply for a quick advance loan at 100 Lenders, you
must visit the website and complete an online loan application.
The application process is simple, fast, and secure. You
can apply for a personal loan up to $40,000 with a short approval time of 2
minutes or less. Selecting the loan amount, credit score requirements, monthly
payment terms, term length of the loan repayment plan, prepayment penalty fee
cost on installment loans, etc., you can then enter your contact information,
including bank account number or deposit account information if borrowing in
cash form Only.
After all, fields are filled, 100 Lenders present you
with you most suited lenders where you choose your most preferred lender. If
you are approved for a loan, read through the terms and conditions of your loan
agreement before signing.
Eligibilities:
To be eligible for a quick loan from 100 Lenders,
applicants must meet the following requirements:
● Be 18 years of age or older.
● Must be a US citizen or permanent resident with a valid ID.
● Must have an active checking account in good standing.
● Must provide proof of income (paycheck stubs, tax returns).
● No bankruptcies within the past 12 months.
● Be employed for at least 4 weeks.
● Have a minimum average monthly income of $1,000.
Highlights:
● Fast approval process: Most lenders offer quick application turnaround times, with some offering approval within 2 minutes of submitting your application.
● Flexible repayment options: Many lenders can tailor loan terms to match your budget and lifestyle so you don't get stuck in a cycle of debt.
● Low-interest rates: With competitive interest rates, you can save money on the cost of borrowing cash when compared to other forms of credit products or traditional loans from banks and credit unions.
● No collateral required: Unlike secured loans where borrowers must put up assets as collateral for their loan, most 100 Lenders' quick loans are unsecured – meaning no collateral is required for approval!
● Easy access to funds: Funds are typically deposited directly into your bank account upon approval, making them easily accessible for whatever purpose you need them for!
● Credit score flexibility: Some lenders specialize in working with individuals with less-than-perfect credit scores and may be more willing to provide an unsecured loan even if you don't meet the traditional lending criteria banks or credit unions use.
Pros:
● 100 Lenders offer fast loans, often with funding available in 24 hours or less.
● 100 Lenders provides access to online lenders willing to consider borrowers with bad credit and issue personal loans of up to $40,000 without requiring a lengthy application process or collateral.
● With 100 Lenders, you can select from hundreds of loan products that fit your individual needs and requirements, such as term lengths, interest rates, and repayment schedules.
● Borrowers can choose flexible repayment terms tailored to their budget requirements and schedules so they stay caught up on repayments if something happens down the line, as job loss or medical expenses arise unexpectedly.
Cons:
● Many 100 Lenders fast loans have a low maximum loan amount, making them less suitable for those looking to borrow larger sums of money.
● The short-term nature of these loans means that borrowers may end up paying higher interest rates than they would with traditional lenders.
● If you fail to make a payment on time, you could be subject to hefty late fees or other penalties related to the loan agreement.
What are Quick
Loans?
Quick loans are instant loans typically available to
borrowers with bad credit and short-term cash needs. Various lenders provide
these loans, but the process is generally similar.
The lender will review your application and credit score and may
request some collateral (like a personal loan agreement or car title) to
approve your loan. Once you have been approved for the loan, you will be sent
instructions on how to make payment arrangements.
In addition, quick loans are approved and funded within
24 hours and can be available in various loan amounts, interest rates, and
repayment terms.
How Do We Pick
These Companies?
To pick the best quick loans for bad credit, we first
looked at over 40 lenders that offer quick loans with no credit checks. We then
assessed their terms, interest rates, and customer satisfaction ratings to
create our top three picks.
We then looked at each company's online reviews to give
you a complete understanding of their service. In addition, we compared
interest rates and terms for each loan product to help you get the best deal
possible.
From the 40 lenders, we have selected the six best quick
loans for bad credit.
FAQs
Can I
get quick loans with a mobile app?
Yes. Mobile apps offer quick loans with a few simple steps.
Some mobile apps require a bank account, but most do not.
What
are the fastest places to get a loan with bad credit?
Online lenders are usually the fastest places to get a
loan with bad credit. However, some lenders offer loans in person as well.
Are
there fast loans for poor credit to get without credit checks?
Yes. There are fast loans for bad credit available
without credit checks. These loans have higher interest rates and shorter
terms, which may only be suitable for some borrowers.