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Ratings and reviews are from real consumers who have used the lending partner’s services.
Ratings and reviews are from real consumers who have used the lending partner’s services.
7.40% - 35.99%
$1,000 to $50,000
36 or 60 months
0.00% - 12.00%
300
Among all our picks for best personal loans for bad credit, Upstart has the lowest minimum credit score requirement. LendingTree customers who have used Upstart recommend the lender 99% of the time.
Upstart funded more than 13,000 personal loans to LendingTree customers in 2023.
Upstart offers flexible loan amounts to borrowers, providing larger personal loans for poor credit than many other conventional lenders. Its application process may make it easier for some consumers with thin credit histories to qualify, since this lender considers factors beyond your credit score — like education and employment history — to make its lending decisions.
Upstart loans are limited to just two repayment terms — 36 or 60 months — and come with much higher origination fees than some other lenders.
Upstart has transparent eligibility requirements, including:
Ratings and reviews are from real consumers who have used the lending partner’s services.
Ratings and reviews are from real consumers who have used the lending partner’s services.
9.95% - 35.99%
$2,000 to $35,000
24 to 60 months
Up to 9.99%
550
If you’re approved for a personal loan with Avant, your funds may be deposited into your bank account as soon as the next business day.
Avant funded more than 7,000 personal loans to LendingTree customers in 2023.
Avant has higher interest rates than some lenders, but you could receive your loan faster than competitors. After approval, you may receive your funds within one business day. This online lender also offers a 10-day grace period with no late fees if you’re not able to make payments on time.
Avant does charge an origination fee on every loan. Avant’s minimum loan amounts vary by state.
To get a loan with Avant, you’ll need to meet the following minimum requirements:
Ratings and reviews are from real consumers who have used the lending partner’s services.
Ratings and reviews are from real consumers who have used the lending partner’s services.
8.99% - 35.99%
$2,000 to $50,000
24 to 60 months
1.00% - 9.99%
560
Prosper has one of the lowest credit score requirements around. Plus, they offer a hardship relief program and discounted interest if you join Teachers Federal Credit Union when you apply for a loan.
Prosper funded more than 700 personal loans to LendingTree customers in 2023.
Prosper is an online peer-to-peer lending platform, which means individual investors are behind the financing of its personal loans. Prosper carries out your loan request only if your application is approved and investors choose to fund your request. Loans are then originated by WebBank.
This may sound like jumping through hoops, but Prosper says peer-to-peer investors tend to fully fund a loan within one to three days.
Prosper also offers a 0.50% – 1.00% discount on your loan if you open a Teachers Federal Credit Union account during your application, has low credit requirements and provides a hardship relief program for borrowers.
To get a loan with Prosper, you must meet the following requirements:
Ratings and reviews are from real consumers who have used the lending partner’s services.
Ratings and reviews are from real consumers who have used the lending partner’s services.
9.99% - 35.99% (with discounts)
$1,000 to $50,000
24 to 84 months
1.85% - 9.99%
580
Upgrade offers APR discounts for using autopay, applying all or part of your loan on current debt and using your car as collateral on a secured loan.
Upgrade funded more than 14,000 personal loans to LendingTree customers in 2023.
This online lender offers a wide range of loan terms that consumers can choose from. Borrowers can receive their loans as quickly as one business day after approval. Furthermore, you could get a discount on your rates if you sign up for autopay and repay some of your current debts directly.
However, not only does Upgrade charge an origination fee (ranging from 1.85% - 9.99%), but if borrowers are unable to keep up with their payments, this online lender also charges late and failed payment attempt fees.
To qualify for a loan through Upgrade, you must meet the requirements below:
Ratings and reviews are from real consumers who have used the lending partner’s services.
Ratings and reviews are from real consumers who have used the lending partner’s services.
7.99% - 35.99%
$2,000 - $50,000
36 to 84 months
0.99% - 9.99%
580
With its secured loans, Best Egg allows consumers with bad credit to apply for lower rates by using their home fixtures as collateral.
Best Egg funded nearly 23,000 personal loans to LendingTree customers in 2023.
Most lenders don’t offer secured personal loans, but Best Egg lets you use your home’s permanent fixtures as collateral so you can qualify for lower rates, even if your credit isn’t ideal. If you prefer an unsecured loan, Best Egg offers them at higher APRs ranging from 6.99% to 35.99%.
To qualify for a secured loan from Best Egg, you’ll need to be a homeowner. You also may lose any collateral you placed on the loan if you fail to make payments.
Best Egg uses your home’s permanent fixtures as collateral, but it doesn’t need to appraise those fixtures’ value. Instead, Best Egg will review your credit history and home equity to see if you qualify.
You must also meet the requirements below to qualify for a Best Egg loan:
Ratings and reviews are from real consumers who have used the lending partner’s services.
Ratings and reviews are from real consumers who have used the lending partner’s services.
8.91% - 35.99%
$1,000 to $40,000
24 to 60 months
3.00% - 8.00%
600
Unlike some other competitors, LendingClub allows applicants to apply for a joint personal loan with a co-borrower.
LendingClub funded more than 12,000 personal loans to LendingTree customers in 2023.
LendingClub is an online marketplace where you can borrow up to $40,000. You can also change your due date with LendingClub, but be sure to check how changing your payment deadlines could affect your interest rates.
As an added bonus for borrowers with low credit scores, LendingClub also offers joint personal loans. The option to add a co-borrower may make it easier for some applicants with poor credit to qualify for a personal loan, and LendingClub states that it reserves its lowest rates for those with excellent credit.
To be eligible for a LendingClub personal loan, you must meet the following requirements:
Ratings and reviews are from real consumers who have used the lending partner’s services.
Ratings and reviews are from real consumers who have used the lending partner’s services.
8.95% - 17.48%
$5,000 to $40,000
24 to 60 months
1.50% - 5.50%
640
Happy Money personal loans are designed to help consumers consolidate high-interest debts.
Happy Money funded nearly 400 personal loans to LendingTree customers in 2023.
Happy Money bad credit loans are specifically available to help borrowers pay off credit card debt. While you may not be eligible for Happy Money’s lowest interest rates, their personal loan rates may be lower than those on your current credit card.
If this lender approves you, you can typically expect to see your funds deposited into your account within three to six business days. This is much slower than other lenders on this list.
To get a personal loan with Happy Money, the company requires:
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It’s possible to get a personal loan with bad or no credit. However, if you take time to work on your credit, you could save a lot of money by benefiting from a lower interest rate. But if you need a cash now, consider these tips to finding the best personal loan for bad credit for you:
Personal loans for bad credit can be found at a variety of types of institutions. At LendingTree, you can browse through our personal loan marketplace to compare eligibility requirements, interest rates, terms and loan amounts.
Here are a few different types of lenders that we offer where you can start your search:
The easiest way to get a loan if you have bad credit may be to seek a payday loan or pawn shop loan, since you’re not required to submit to a credit check for either. However, it’s typically best to avoid these types of loans, as they can be predatory and often involve exorbitant fees and high interest rates. Instead, consider applying for a loan with a reputable lender that offers personal loans to borrowers with bad credit.
While many trustworthy lenders won’t offer you a personal loan if you have a credit score of 550 or lower, there are other ways you may be eligible to get a loan.
According to our standardized rating system, the best bad credit loans come from: Upstart, Prosper, Avant, Upgrade, Best Egg, LendingClub and Happy Money.
How much money you’ll be able to borrow with a bad credit loan will vary from lender to lender. Personal loans typically range anywhere from $1,000 to $50,000, though certain lenders may offer even smaller or larger loans in some cases.
Unfortunately, if you have bad credit and you receive a personal loan, chances are that you may be paying higher rates. This can make it more challenging to get out of debt, particularly if you’re already struggling financially. If you find yourself buried in debt, you can consider other options, such as bankruptcy.
There is no such thing as a no-credit-check loan. What you may encounter are predatory offers from unscrupulous lenders who’ll charge you exorbitant interest rates or offer unfavorable terms (or both), and require you to put up collateral, like your vehicle or next paycheck. These products are commonly known as payday loans.
While payday loans don’t require a credit check, they do often come with triple-digit APRs and short repayment periods. Because it can be easy to roll over your original payday loan into a new one, you could get stuck in an infinite cycle of debt that’s hard to escape.
We reviewed more than 30 lenders that offer personal loans to determine the overall best seven lenders with a credit score requirement at or below 640. To make our list, lenders must offer competitive annual percentage rates (APRs). From there, we prioritize lenders based on the following factors:
On a monthly basis, LendingTree experts evaluate and fact-check our top lender picks.
