Best Installment Loans for Bad Credit in March 2025

Upstart is unique among bad credit installment loan lenders because it gives loans to people with credit scores as low as 300. And you won’t have to sacrifice quality, either. According to LendingTree users, Upstart offers the best customer experience of all personal loan lenders on our marketplace.

But Upstart doesn’t offer joint loans, so you can’t apply with a co-borrower to boost your odds of approval. Plus, you may have to pony up for an expensive one-time origination fee of 0.00% - 12.00%.

Upstart has transparent eligibility requirements, including:

• Age: Be 18 or older
• Administrative: Have a U.S. address, personal banking account, email address and Social Security number
• Employment: Have a job or job offer that starts within six months, or have regular income
• Credit-related factors: Debt-to-income (DTI) ratio no higher than 50% (45% in Connecticut, Maryland, New York and Vermont), no bankruptcies within the last year, fewer than six inquiries on your credit report in the last six months and no current delinquencies
• Credit score: 300+ (unless you’re an eligible college student or graduate, in which case Upstart could approve you with no credit)

If you prefer getting an installment loan for bad credit in person, check if OneMain Financial has a branch near you. OneMain has 1,300 branch locations across 44 U.S. states. You can get your money in as little as one hour after signing your loan agreement with OneMain. This is on the fast end compared with other lenders who can take up to five days to send your money.

You can also apply for a secured loan to boost your chances, and potentially lower your rates with required collateral. That said, every OneMain loan comes with a one-time origination fee, and you can only borrow up to $20,000.

OneMain Financial isn’t very transparent about its personal loan eligibility requirements, but it’s possible to qualify even with a score as low as 500. Before closing on a loan, you’ll be required to provide:

• Government-issued identification (such as a driver’s license or passport)
• Proof of residence (such as a rental agreement or utility bill)
• Proof of income (such as pay stubs or tax returns)

However, know that OneMain loans are not available in Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont, the District of Columbia or U.S. territories.

Avant offers quick loans, with loan decisions in as little as a few minutes and funding as soon as the next business day. Plus, as an online lender, Avant makes it easy to upload all of your supporting documents online or via email.

But Avant may keep part of your loan as an origination fee, and you’ll need a score of at least 550 to qualify. This still falls in the range of bad credit, but it’s one of the higher credit thresholds on this list.

To get a loan with Avant, you’ll need to meet the following minimum requirements:

• Residency: Not available to residents of Hawaii, Iowa, Maine, Massachusetts, New York, Vermont, Washington and West Virginia.
• Administrative: Must have a bank account. May need to submit bank statements, pay stubs or tax documents to prove your income. Avant may also call your employer to verify your employment.
• Credit score: 550+

Since Prosper is a peer-to-peer lender, it may be easier to qualify for a loan than with a bank or credit union. Plus, Prosper allows you to boost your odds of approval by applying with a co-borrower who has good or excellent credit.

But you’ll need to pay a one-time origination fee of 1.00% - 9.99%, and since Prosper loans start at $2,000, you’ll need to look for another lender if you need a small loan.

To get a loan with Prosper, you must meet the following requirements:

• Age: Be 18 or older
• Administrative: Have a U.S. bank account and Social Security number
• Residency: Not live in Iowa or West Virginia
• Credit score: 560+