Best Bad Credit Loans For You In July 2022 | Top 5 Lending Companies For Guaranteed Loan Approvals For Cash Advance | Emergency Loans & Payday Loans For Bad Credit

There comes a time in all of our lives in which we are in desperate need of a short-term loan. However, no matter the reason, we are usually halted by the high-interest rates and, more importantly, our bad credit score.

Nowadays, more and more people are struggling with a bad credit rating. With the constantly increasing cost of living and stagnant wages, this problem is less likely to be resolved each day. With such circumstances, most lenders will likely find you ineligible for bad credit loans. Understandably so, since they need proof of your ability to return it.

Luckily for us all, the market for loans has been evolving within the past couple of years. Nowadays, the number of financial institutions willing to offer a loan to people with bad credit scores is rapidly increasing. Even though they offer this service at higher interest rates, the important thing is that they are willing to provide the money you desperately need at the moment. Moreover, each repayment you make, usually, boosts your credit score.

Top 5 Lending Companies For Bad Credit Loans

  • MoneyMutualOverall Best Bad Credit Loans, Editor’s Pick
  • Bad Credit LoansTop Online Direct Lenders For Poor Credit Scores
  • RadCredMost Recommended Bad Credit Loans For Fast Cash Advance
  • CashUSA – Best Online Loans For Bad Credit Based On Interest rates
  • Personal Loans Excellent Personal Loans With Low Interest Rate

#1.MoneyMutual – Overall Best Bad Credit Loans, Editor’s Pick


This company is the one that has gained most of the people’s trust in the United States. Ever since its founding in Las Vegas in 2010, MoneyMutual has been able to help over 2,000,000 customers.

According to them, they started this company after recognizing the need for it on the market. Much like ourselves, they were driven by the wish to help others connect with lenders that offered bad credit loans with guaranteed approvals.

As per theislandnow, even today, 12 years later, MoneyMutual remains the most popular choice for people looking for bad credit loan providers. The reason for this might be the fact that they don’t require a thorough credit report from their customers. Another reason for it is definitely the fact that it’s completely free. This is especially important since the people looking for a loan aren’t usually ones that can afford to pay for these services.


  • A platform connecting lenders and borrowers by disclosing only the necessary information to both parties
  • Requires minimal credit score report
  • Allows short-term loans of up to $5,000
  • A quick and simple form is required in order to apply for a loan
  • Lenders quickly make the decision to approve or deny the request


  • A possibility to get a loan within 24 hours
  • Ranked as the number 1 bad credit loan company by “Washingtonian”
  • Possibility for multiple credit loans at once
  • User-friendly application process
  • A completely free service
  • Numerous educational resources are available


  • Only available in the United States (except Connecticut and New York)
  • No protection against debt problems after you sign

Customer experience

In the words of its customers, MoneyMutual is an easy-to-use platform that allows them to get money extremely fast. According to them, the company lives up to the expectations and manages to deliver on all its promises. As a testament to that, MoneyMutual can present its shining 5-star rating.

=> Click here to visit the official website of MoneyMutual

#2.Bad Credit Loans – Top Online Direct Lenders For Poor Credit Scores


This organization is another one with grade-A services for people looking for bad credit loans with guaranteed approvals. Once they fill out the online form, each customer has a great chance of being connected with multiple lenders. Bad Credit Loans’ network includes both federal and tribal lenders and is guaranteed to be of help to every customer.

If by any chance, they aren’t able to find a lender willing to offer you a loan, Bad Credit Loans immediately tries to offer you a different solution. It provides bad credit loans online. That includes things such as offers for credit repair, debt relief, student or business loans, etc.

What’s important to note, is the fact that they don’t disclose your sensitive information to other companies, but rather just your contact information and your loan request.

Even if the lender is offering you a loan, you don’t have to accept it if you don’t like it. What’s more, you can always revoke your request if you happen to change your mind about taking a loan.


  • The required form is relatively simple and can be filled out quickly
  • Allows short-term loans of up to $10,000
  • Contributes to charity
  • Offers free, professionally written articles about:
    • tips on when to take a loan
    • how to budget your future income in order to pay off your loan quickly
    • how to spend the funds responsibly
    • an explanation of every part of the loan process


  • The service is available 24/7
  • User-friendly application process
  • Ability to apply to multiple lenders with only one loan request
  • Intended especially for people with bad credit scores
  • A completely free service
  • Ability to compare interest rates from different lenders


  • People with terrible credit ratings can only receive smaller loans
  • The application form requires a lot of personal information
  • Only available in the United States

Customer experience

While we couldn’t find a lot of reviews regarding this company, the ones we did find were mostly positive. Overall, customers seem happy because of the quick application and approval process. Most of them are grateful for the opportunity to get a loan even with their bad credit ratings. Of course, there were some negative reviews, as well, regarding the amount of sensitive information required in the application form.

=> Click here to visit the official website of Bad Credit Loans

#3.RadCred – Most Recommended Bad Credit Loans For Fast Cash Advance

RadCred is yet another organization set on helping as many people as possible via its network. By providing a platform on which lenders and borrowers can connect, they are enabling a pleasant experience for their customers. No long periods of waiting for approval nor safety risks whatsoever.

With RadCred, you can get the loan you so desperately need in the blink of an eye. And that’s despite the bad credit ratings on your account.

All you need to do is fill out a simple and quick application form. After that, you only need to wait for lenders to make you an offer.

If you meet the basic requirements, the offers should start flooding within the first 24 hours. If not, RadCred will try to connect you with other credit-related products and services.


  • A platform connecting lenders and borrowers by disclosing only the necessary information to both parties
  • Easy online application steps
  • Quick response from lenders
  • Allows short-term loans of up to $5,000
  • Requires minimal credit rating report


  • A completely free service
  • User-friendly application process
  • An encrypted website with industry-standard security measures


  • Only available in the United States
  • Might not get a loan even if you meet the basic requirements

Customer experience

Yet again, we find ourselves in line with an organization with many happy customers with a happy bank account. Based on the reviews they’ve left, most of RadCred’s customers are more than satisfied with their service. It’s safe to say that we couldn’t be happier upon finding such information about this company.

=> Click here to visit the official website of RadCred

#4. CashUSA – Best Online Loans For Bad Credit Based On Interest rates


Heedless of your credit profile, if you are in need of a loan, bad credit loan companies have got you covered. Not only do they provide a platform on which you can connect with lenders, but they also do so with the utmost regard for your sensitive information.

With CashUSA you can apply for a short-term loan for any amount ranging from $500 to $10,000. More so, you can acquire them in only one business day.

The APRs on these loans typically range in the field from 5.99% to 35.99%. Understandably so, seeing how that’s the average in the industry. The payback period can vary between 90 days and 72 months. Regardless of your needs, with CashUSA you can be sure they will be met.

In case you receive no offers from lenders, there’s no need to panic. If such a thing occurs, CashUSA will pass limited information about you to their marketing partners so you can receive offers for debt relief, credit repair, etc.


  • A platform connecting lenders and borrowers by disclosing only the necessary information to both parties
  • Easy online application steps
  • Offers from lenders within one business day
  • Requires minimal credit rating report
  • Allows short-term loans of up to $10,000


  • A completely free service
  • User-friendly application process
  • An encrypted website with industry-standard security measures
  • Ability to compare interest rates from different lenders


  • Only available in the United States

Customer experience

There’s a reason why people keep reaching out and coming back to CashUSA. Their customer service is immaculate. Not to mention, their services are easily one of the best ones out there. Most of its customers have left positive reviews pointing out the previous statement.

=> Click here to visit the official website of CashUSA

#5.Personal Loans – Excellent Personal Loans With Low Interest Rate


When it comes to this particular organization, their company motto says it all – “Personal Loan made simple.”. Well, it doesn’t get any simpler than this.

With their services, you can be sure you are getting the amount of money you need without any hidden risks. This is further proven by the fact that they offer the largest amount of money you can loan. The payback period varies between 90 days and 72 months, which is the standard in the industry. It provides the best bad credit personal loans.

Their services are available at any time, so you are guaranteed to find help when in a tight position money-wise. The response time of the lenders is usually within one business day, so you can be sure there will be no delays.


  • A platform connecting lenders and borrowers by disclosing only the necessary information to both parties
  • Allows bad credit loans of between $1,000 and $35,000
  • The required form is relatively simple and can be filled out quickly
  • Offers from lenders within one business day
  • Requires minimal credit rating report


  • The service is available 24/7
  • A completely free service
  • User-friendly application process


  • Only available in the United States
  • Customers must have a regular source of income

Customer experience

In case you were having any doubt about the services of this particular company, we implore you to take a look at the customer reviews. With a ton of happy and satisfied customers, we can clearly see how this company fares with the masses. Every single review we came across was a positive one. Which only strengthened our belief in this company’s excellence.\

=> Click here to visit the official website of Personal Loans

Factors to Look for While Getting a Loan If You Have a Bad Credit

As with any other service, it’s advisable to carefully weigh all the options available before you make the final decision. Unfortunately, there are quite a lot of scams in this line of work. To be as prepared as possible, we thought it’d be useful to supply you with the main factors to consider. Those include:


According to FICO, the minimum credit score required by lenders who offer loans to people with bad credit is 620. Moreover, the debt-to-income ratio should be closely observed each month.

Lenders are more likely to make an offer for a loan to a person with a steady income. That is valid regardless of the person’s credit ratings. That’s because such a person is more likely to return the borrowed money on time. Because of this, you should not be alarmed if a lender asks for information other than your minimum credit score and credit history for credit check loans.

If you are unable to meet all the requirements on your own, some lenders will allow adding a co-signer. With this feature, you’ll be able to utilize your co-signer’s credit history as well as their salary. This can be extremely helpful during negotiations with the lender.

Offered interest rates

This might just be the one, most crucial thing you need to look out for during such a procedure. If you make the decision to take a bad credit loan, you should expect relatively high-interest rates. That’s because corporations charge higher interest rates for bad credit loans than loans that require decent credit ratings.

That being said, it doesn’t mean that you should agree to some outrageously high-interest rates. On the contrary, it means you should expect to pay higher rates, but should always look for the lowest one. However, bear in mind that these low-interest rates are not flexible. With a fixed interest rate, you can’t lower your interest charges, no matter how quickly you pay your loan off.

Terms and conditions of the loan

The terms and conditions of the loan should be available to you via the loan agreement you get after your loan’s been approved. Additionally, this agreement will provide about the amount of money as well as the APR.

Make sure that you always read (and understand) the fine print on such agreements. Ensure that all the conditions are appropriate for you and the potential co-signer. In addition to that, you should always double-check if you’ll be financially capable to make the payments.

Additional charges and penalties

Unfortunately, people with poor credit scores are well-acquainted with fees, fines, and other similar loan costs. Bounced checks and late loan repayments might also contribute to such penalties. In addition to all of that, people who don’t have enough money in their accounts in order to make the repayments might be subject to charges.

Before the transaction, the lender will let you know whether or not they’ll charge you any fees for processing loans. Those are especially important to consider since they can take up to 6% of the loan. Moreover, these expenses may be charged independently, or they can be a part of the loan that must be repaid.

Last but not least, you’ll need to look into late payment costs. These can be as high as 5% of your loan balance per month. To avoid spending extra money, make sure to always be on time with your repayments.

Backup plan

You should always make sure you have a backup plan in case of any unforeseen events. That can be in the form of a savings account, an asset you can sell for a good price, or anything that can give you some sense of financial security.

How to Get a Bad Credit Loan With Guaranteed Approval

Even though obtaining a loan with bad credit ratings is significantly easier nowadays, you’ll still need to follow a specific procedure in order to do so. However, seeing how the whole process is fairly simple, there shouldn’t be any bumps on the way to your loan. Nevertheless, we’ve decided to explain it step-by-step, so you can have no doubts during your application.

Check your credit ratings

Before you actually start the application process, it’s a good idea to check your credit score. That way, you’ll have a general idea of what you are eligible for and what you aren’t. This can be easily done via your credit card provider, a credit-providing website.

Improve your credit ratings

If you find your credit score to be too low, take the time to raise it, if possible. Two ways you could go about that are repaying any existing debts or lowering your credit utilization. This way, you can ensure your eligibility for a loan before your application.

Evaluate your budget

Before applying for a bad credit loan, you should always check your budget first. This will give you an idea of how big of a loan you can actually afford. This is crucial information considering the fact that you’ll have to pay it back. Moreover, a huge debt you cannot repay could only further damage your credit score.

Choose the right lender

If you aren’t opting for a reputable organization for this process, it’s likely that you’re stepping right into a scam. One of the signs of such malevolent sites is them requiring you to pay a fee before you get any approval for your loan request. The only way to avoid such situations is by opting for established sites that have been around for a while.

Additionally, you’ll also need to check whether the particular loan provider is allowed to operate in your country or state.

Compare interest rates

This is, perhaps, the most important part of the whole process, so take your time to do it properly. By comparing the interest rate ranges as well as the borrower requirements of different money lending sites, you’ll be able to choose the best option for you.

Moreover, you’ll find that oftentimes the best lenders are the ones offering additional beneficial features. Those can include quick funding, credit-building programs, or a mobile app to monitor loan installments.

Discuss with your lender

You can talk to your lender about any financial difficulties in the past that might’ve affected your credit score. This has proven to be extremely helpful in receiving better credit terms even if you have bad credit ratings.

On that note, make sure to provide your lender with evidence of any changes in your financial situation such as an increased salary or a more secure job position. These improvements are likely to increase your chances of getting your application approved.

Be prepared

If you want to speed up the procedure as much as possible, it’d be a good idea to gather all the necessary documentation ahead of time. That way you can be prepared when a lender makes you an offer and asks for them.

Make timely repayments

As we’ve previously pointed out, you need to make sure you are on time with your repayments. It’s the best way to avoid penalties and charges, the worst means to be milked out of your money.

Alternatives to Loans If You Have a Bad Credit Score

It’s important to remember that there’s always more than one way to get a short-term loan. In the following text, we’ll briefly talk about the other options for avoiding a financial crisis.

Personal loans

This is essentially the alternative we’ve been talking about in the text above. They are steadily growing in popularity among people with bad credit ratings. That’s mostly due to the fact that they don’t require any collateral, even if their demanded credit rates are higher than those of regular loans. They are, also, extremely convenient since the whole process can be done online, from the comforts of your home.

It’s important to note that if you have a relatively average credit score, the interest rates you can expect to be offered should be somewhat lower compared to the ones offered to people with bad credit scores.

Budget cutting

This has got to be the easiest and most convenient method for securing extra funds if you have the time. One of the ways to do so is by limiting the amount of money you spend monthly. By doing so, over the course of several months, you’ll be able to acquire a hefty sum of money for your emergency fund. Unfortunately, oftentimes we fail to do this, so we aren’t prepared for such situations.

Family and friends

Unfortunately, this solution is a double-edged sword. On one hand, they are the people closest to you, with no intention of ripping you off. On the other hand, if, for whatever reason, you fail to repay them, that can have a serious impact on your relationship.

In these situations, experts suggest you make a written document stating the monthly installment plan, interest rates, and due dates. Basically, the goal is to treat this arrangement as you would any loan provided by an official institution or lender.

Cash advance

There are two ways you could go about this. One is to make a request to your employer for a short-term advance on your paycheck. This will depend entirely upon your relationship with said employer, as well as the company’s size. The other option is to get a cash advance directly from your credit card if your provider offers this feature. It’s made available by most credit card providers, however, the interest rates are usually high.

FAQs About Bad Credit Loans for Quick Cash

In this section, we are continuing with our mission to give you all the information you need. To achieve that, we need to make sure that no question has been left unanswered. In the following text, we’ve answered some of the most frequent questions regarding loans for people with bad credit.

Q1. What are bad credit loans?

As we’ve been discussing this whole time, bad credit loans are loans available to people who have bad credit scores. Since these people cannot go about obtaining a loan the traditional way, this is their best bet to secure funds.

The lending process is very similar to any other traditional loan, with the most apparent difference being the interest rates. The worse your credit scores are – the higher the interest rates will be. The specific amounts vary between different lenders.

Your chances of obtaining a loan will, of course, drop alongside your credit score. This part is entirely up to the lender, seeing how each has different criteria regarding who they approve loans to.

Doing a bit of research before you actually apply for a loan has proven to be highly beneficial. It can certainly help you get a better idea about whether or not your request will be approved. That way, you can avoid spending valuable time waiting for approval that’s never going to come.

Q2. What does APR mean?

APR stands for “annual percentage rate”. By definition, “it refers to the yearly interest generated by a sum that’s charged to borrowers or paid to investors”. In other words, it’s the amount of money you’ll need to pay your lenders yearly as a provision.

To calculate the APR, you’ll need to multiply the periodic interest rates by the number of periods it applies to. In order to get a better idea of the whole process, here’s a simple equation you can refer to:

APR=Fees + InterestPrincipaln365100

In this equation, “Interest” refers to the total interest paid over time, “Principal” is the loan amount, while “n” is the number of days in the loan term.

Q3. Can people without employment qualify for bad credit loans?

All the unemployed readers can rejoice in the fact that bad credit loans are also available to them. Of course, you’ll need to check with the specific provider since this policy varies between different lenders. However, those that provide such a service have found other ways to determine whether you’ll be able to repay them, rather than just your salary.

If a lender has approved your loan request, then they’ve made sure you have the means to return it. It doesn’t matter if you don’t have a steady job or any other kind of employment. As long as you have a relatively steady income or a decent amount of money on your account – you should be good to go.

Keep in mind that all of this is despite your potential bad credit score, so there’s no need for despair. With this service, you are more than likely to get your short-term funds.

Q4. What credit score is considered “bad”?

The credit ratings that most lenders employ vary in the range from 300 to 850. If you have a FICO rating that’s less than 670, according to Experian you’re a subprime borrower with a good credit rating. On the other hand, if your FICO rating is less than 580, it is considered to be very bad by the credit reporting firm.

As we’ve previously mentioned, the interest rates rise with the downfall of your credit score. In cases of an extremely bad credit rating, they might even reach up to 40%. In addition to that, the loan amounts will be lower and the duration of the repayment period will be shorter.

Q5. Can I apply for a bad credit loan after being denied in the past?

Generally speaking, yes, you can. If you are more eligible than you were in the past, the present transaction should go on without a hitch. Even if your eligibility hasn’t changed, a different loan provider might still approve you for a loan. This comes down to the lenders themselves, but in most cases, you shouldn’t even be denied in the first place.

Q6. Can I get personal loans without a credit check?

It’s true that most of the lenders out there require you to have a credit check. However, there are some who don’t take this factor into consideration. These lenders assess whether or not someone qualifies for a bad credit personal loan based on the borrower’s ability to return the loan.

In these situations, the lender is likely to demand collateral from the borrower. Collateral is a personal asset of the borrower, which the lender can confiscate if the repayment requirements aren’t met. That can include valuable belongings (such as jewelry, antiques, paintings, and sculptures) or living accommodations (houses or flats).

Q7. How do I know what my credit rating is?

Unfortunately, it’s impossible to see until you’ve borrowed money from a recognized financial institution. If you have, then it’s likely that you’ve been assigned a credit score based on your repayment history. However, don’t fret if you still don’t have one even after doing so. Generating your credit score can take up to 5 months. In the meantime, the credit bureau will gather all the necessary information in order to generate your credit rating.

During this period, it’s crucial that you remain on time with your repayments. This is the main factor when it comes to your credit rating. Any delays can result in a negative credit score. The same outcome can be caused by having a low balance on your account, as well.

If you haven’t borrowed money from a recognized financial institution yet, then you won’t have a credit score assigned to you.

Q8. How can I improve my credit ratings?

The most obvious way to achieve this is by ensuring you’re always on time with your loan repayments and prepayments. The things that affect your credit score the worst are late payment interests and penalties. That’s why you should avoid them as much as possible. To start improving your credit score, you must first pay off any short-term loans or debts.

A good credit score is beneficial in many ways. Mainly, it helps you get payday loan offers with lower interest rates, which (needless to say) is always the goal.

Q9. What is the easiest loan to get approval on with a bad credit score?

Many of these loans are designed to help people with bad credit scores who are in desperate need of money. However, not all of them are obtained easily. The ones you have the best chance of getting approval on are personal installment loans (discussed in the text above), pawn shop loans, payday loans, and car title loans. These short-term solutions are God-sent when you are in desperate and quick need of money.

Q10. Is getting bad credit loans with guaranteed approval costly?

Lenders are taking on a huge risk by giving money to people with poor credit ratings. To compensate for that risk, they are prone to assign higher interest rates to them. This is accompanied by higher penalties and charges on late repayments. Since these lenders don’t require collateral, the aforementioned regulations are their only safety net against malevolent customers.

It makes sense for lenders to do this, although that doesn’t make this type of behavior fair. With these regulations in place, they are more likely to get their money back. To put this into context, even the highest interest rates charged to people with good credit ratings don’t come close to the ones charged to people with bad ones.

So, to directly answer the question, yes. Unfortunately, bad credit loans can be a bit costly compared to traditional loans. However, that shouldn’t discourage you from applying for one if you’re in dire need of it. In our opinion, the benefits from such a transaction, by far outnumber the drawbacks.

Conclusion: Which Bad Credit Loan Is For You?

The time has come, in which we need to sum up all that we’ve been saying in the text above and come to one final conclusion. As we’ve previously mentioned, bad credit loans with guaranteed approval are quite easy to obtain. This, however, doesn’t mean that you should apply for one impulsively and without thinking your decision through.

Bad credit loans are set in place as an opportunity for the people who are in desperate need of funds that need to be obtained quickly. They are, most definitely, not meant to be taken lightly nor be exploited.

Going through with such a transaction will only further lower your credit score. That’s why you need to ensure that you are only utilizing them in your hour of utmost need.

Another thing you need to keep in mind is the loan provider you choose to have in order to get your emergency loans. If you aren’t a US citizen or permanent resident, you won’t be able to operate with the providers we’ve mentioned. As a result, you might be more prone to scammers than the average American.

When choosing your loan provider, pay close attention to every detail. Better yet, consult with a person who specializes in finances, if possible. Who knows, they might open your eyes to other possibilities. Either that or they might find that you don’t actually need the loan as much as you believe you do.

We hope that with this article we have helped you in some way. Whichever route you decide to take, we sincerely hope you stay mindful of your sensitive information. Always put your safety first!


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