$100 - $100,000
CS: 0 • 5.96% - 35.99%
Best Personal Loans for Low Income of September 2026
ElitePersonalFinance
•
Loan Reviews •
Loans •
Last Update: September 7, 2026
People with low incomes have to be careful with loans. If you have a low income, there is a risk of not paying the loan on time, leading to problems like late fees, bankruptcy, marks on your credit file that will stay there for up to 10 years, and other problems.
The best loans for people with a low income are personal loans. These loans have an APR of up to 35.99% and offer up to $100,000. If you have a low income, stay away from payday loans and auto title loans. They are predatory. These lenders typically promote them like: “no credit ‒ no problem,” “bad financial situation ‒ no problem.” They target people with a low income, but this is exactly what you have to avoid. Payday loans come with an APR of about 400% and risk getting into a debt cycle. Watch the video to see how people with bad credit can get a personal loan.
| Loan Company: | Min. Credit Score: | APR: | Amount: | Apply: |
|---|---|---|---|---|
MoneyMutual  |
0 | 5.99% – 35.99% | $100 – $5,000 | Apply Now SSL No Credit Effect |
SuperMoney Debt Consolidation  |
0 | 8.99% – 35.99% | $1,000 – $100,000 | Apply Now SSL No Credit Effect |
| SuperMoney Personal Loans |
0 | 8.99% – 35.99% | $1,000 – $100,000 | Apply Now SSL No Credit Effect |
PickALender  |
0 | 5,99% to 35,99% | $100 - $40,000 | Apply Now SSL No Credit Effect |
ZippyLoan  |
0 | 5,99% to 35,99% | $100 - $15,000 | Apply Now SSL No Credit Effect |
BadCreditLoans  |
0 | 5.99% – 35.99% | $100 – $10,000 | Apply Now SSL No Credit Effect |
CashUSA  |
0 | 5.99% – 35.99% | $100 – $10,000 | Apply Now SSL No Credit Effect |
Upstart  |
300 | 6,6% - 35.99% | $1,000 - $75,000 | Apply Now SSL No Credit Effect |
MarketLoans  |
0 | 5,99% to 35,99% | $100 - $40,000 | Apply Now SSL No Credit Effect |
NextDayPersonalLoan  |
0 | 5,99% to 35,99% | $100 - $40,000 | Apply Now SSL No Credit Effect |
VivaLoan  |
0 | 5,99% to 35,99% | $100 - $15,000 | Apply Now SSL No Credit Effect |
LifeLoans  |
0 | 5,99% to 35,99% | $100 - $40,000 | Apply Now SSL No Credit Effect |
Upgrade  |
580 | 7.99% - 35.99% | $1,000 - $50,000 | Apply Now SSL No Credit Effect |
ElitePersonalFinance Marketplace
$100 - $40,000
CS: 0 • 5.99% - 35.99%
$100 - $100,000
CS: 0 • 5.96% - 35.99%
$100 - $20,000
CS: 0 • 5.99% - 35.99%
$100 - $5,000
CS: 0 • 5.99% - 35.99%
People with low incomes have a high risk of falling into a debt cycle. This means that if you don’t pay the amount on time, you will be required to pay only its interest on the next payday, which is about $30 for every $100 per month. However, this won’t lower the principal amount, and the process will continue until you find the money to pay the amount in full.
Here is a list of the best personal loan companies that can help people with a low income.
Best Personal Loans for Low Income of September 2026
Upgrade
Check Rates
SSL
No Credit Effect
Fees
- Origination fee of 1.85% – 9.99% of the loan amount
- Origination fee is deducted from the loan proceeds
- Late payment fee of up to $10 if the full payment is not received within 15 calendar days of the due date
- Failed electronic or check payment fee of $10 per occurrence
- One-time title transfer fee may apply to certain secured loans; amount is determined by the local motor vehicle agency
- No application fee
- No prepayment penalty
Qualification Criteria
- Minimum age: 18, or 19 in Alabama and certain other states
- Must be a U.S. citizen, permanent resident, or living in the U.S. on a valid visa
- Must provide a verifiable bank account
- Must provide a valid email address
- Credit score, credit usage, and credit history are considered
- Income and employment information are considered during the final review
- Debt-to-income ratio and existing debt obligations may be considered
- May be required to provide proof of income, identity, employment, or other documentation
- W-2 employees may provide gross income; self-employed applicants may provide net income
- Checking your rate uses a soft credit inquiry and does not affect your credit score
- A hard credit inquiry occurs after the loan is funded
- Certain secured loan offers may require collateral
- Loan amounts and terms may vary by state
- Not all applicants will qualify
Average Borrower Profile
- Upgrade does not currently publish a verified average funded personal-loan amount or average borrower credit score
- Loan offers depend on credit score, credit usage history, income, requested loan amount, and other financial information
- Upgrade's current personal-loan product is designed for borrowers across a range of credit profiles
- Actual loan amount, APR, fees, and repayment terms depend on the applicant's qualifications
Best For
- High DTI ratios
Upgrade is a great company because they offer help to people who have lost their jobs. But unfortunately, they can’t help you if you have a really bad credit score and are in a bad financial situation. They have two requirements: a 580 minimum credit score and at least $1,000 of free cash flow after monthly expenses. However, if you meet these criteria, you definitely have to check what they have to offer.
Upgrade Disclaimer:
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 7.74%-35.99% and a 1.85%-9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For certain discounts, collateral may be required. Repayment terms from 24 to 84 months. For example, if you receive a $10,000 unsecured loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR and other terms of your loan may vary and you may not be presented with multiple offers. If offered, your loan terms, including your rate, will depend on credit score, credit usage history, loan amount, and other factors. Late payments or other fees, as noted in your Borrower Agreement, may increase the cost of your fixed rate loan. Certain loan offers may not be available in all states.
After acceptance, your funds will be sent within one (1) business day of clearing necessary verifications. Funds availability is dependent upon your bank’s transaction processing time and may take up to 2 weeks if sent directly to third party creditors.
App Store® is a registered trademark of Apple Inc. Google Play™ and the Google Play logo are trademarks of Google LLC. ©2017-2026™, NerdWallet, Inc. All Rights Reserved. ©1995-2026 The Motley Fool. “The Ascent” is owned by the Motley Fool.
Upstart
Check Rates
SSL
No Credit Effect
Fees
- Origination fee of 0% – 12% of the loan amount
- Late payment fee of 5% of the past-due amount or $15, whichever is greater, if payment is more than 10 calendar days late
- ACH return fee of $15 per occurrence
- Returned check fee of $15 per occurrence
- Paper copies fee of $10 if eSign consent is withdrawn and paper records are requested
- No prepayment penalty
- Exact fees are disclosed in the loan agreement and may vary by creditor, loan terms, and state
Qualification Criteria
- Minimum age: 18
- Must be a U.S. resident
- Minimum annual income of $12,000 is required to apply
- Must provide valid personal and financial information
- Must have sufficient income and ability to repay the loan
- Credit history and credit profile are considered
- Debt-to-income ratio and existing debt obligations may be considered
- Employment history and income stability may be considered
- Upstart may consider W-2, self-employment, gig, freelance, retirement, disability, Social Security, pension, and other eligible income
- Upstart's model considers income, employment, education, and other factors beyond credit history
- No minimum educational attainment is required
- Checking your rate uses a soft credit inquiry and does not affect your credit score
- A hard credit inquiry is performed if you proceed with the formal application
- Additional documentation may be required
- Minimum loan amounts vary by state: $3,100 in Georgia, $1,500 in Hawaii, and $7,000 in Massachusetts
- Not all applicants will qualify
Average Borrower Profile
- Upstart does not currently publish a current average funded personal-loan amount or average borrower credit score
- Upstart had more than 4 million customers as of June 30, 2026
- Upstart's underwriting model evaluates more than 2,500 variables
- In a 2026 comparison using Upstart data from 2025, the Upstart model approved 41% more applicants and produced rates 33% lower than a hypothetical traditional model
- More than 3 million borrowers had selected debt consolidation or credit-card refinancing as their use of funds as of June 30, 2026
- Actual loan amount, APR, fees, and repayment terms depend on the applicant's qualifications
Best For
- Low credit scores, high DTI ratios
Terms: Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000).
Although educational information is collected as part of Upstart’s rate check process, neither Upstart nor its bank partners have a minimum educational attainment requirement in order to be eligible for a loan.
The full range of available rates varies by state. A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 18.44% and a 8.64% origination fee of $864, for an APR of 22.88%. In this example, the borrower will receive $9,136 and will make 60 monthly payments of $257. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.
While most loans through Upstart are unsecured, certain lenders may place a lien on other accounts you hold with the same institution. It is important to review your promissory note for these details before accepting your loan.
When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.
The APR calculation compares the two models based on the average APR offered to borrowers up to the same approval rate. The hypothetical credit-score only model used in Upstart’s analysis was developed in connection with the CFPB No Action Letter access-to-credit testing program and was built from a traditional credit score only model trained on Upstart platform data. APR for the scorecard was averaged for each given traditional credit score grouping.
While automated recurring payments are easy to set up, payments by check or one time electronic payments can also be used to repay a loan. Borrowers have the flexibility to choose the repayment method that works best for them.
This information is based on actual borrowers as of 4/1/2023 who identified “credit card refinancing” as their primary use of funds and paid off at least 51% of their outstanding credit card debt within 3 months of taking out the loan. Out of these actual borrowers, some could have experienced an increase or decrease in their credit score. This information reflects the overall average change in credit score points experienced by this group of borrowers as identified above.
The majority of borrowers on the Upstart marketplace are able to receive an instant decision upon submitting a completed application, without providing additional supporting documents, however final approval is conditioned upon passing the hard credit inquiry. Loan processing may be subject to longer wait times if additional documentation is required for review.
PersonalLoans
PersonalLoans is a company that can be very helpful. They have a clear credit score and loan income requirements on their site. A credit score of 580 and an income of at least $1,000 a month are enough for you to get a loan.
Check Rates
SSL
No Credit Effect
Fees
- No fee to use PersonalLoans.com's loan-connecting service
- Origination fee may apply and is determined by the individual lender
- Other lender fees may apply depending on the loan offer and agreement
- Late payment fees may apply according to the lender's terms
- Returned payment and other lender fees may apply
- PersonalLoans.com does not determine lender fees or loan costs
- All applicable fees must be disclosed by the lender before the borrower accepts the loan
Qualification Criteria
- Minimum age: 18
- Must have a valid Social Security number
- Must be a legal U.S. citizen or permanent resident
- Must have full-time employment, be self-employed, or receive regular disability or Social Security benefits
- Must have a valid checking account for most loan offers
- No minimum credit score is required to submit a loan request
- Must generally not have accounts more than 60 days late
- Must generally not have active or recent bankruptcies
- Must generally not have a pattern of late payments
- Must generally not have debt that cannot be covered by current income
- Must generally not have recently charged-off accounts
- Some lenders may require income verification such as a pay stub
- Individual lenders may have additional eligibility requirements
- Not all applicants will qualify
Average Borrower Profile
- PersonalLoans.com does not publish a current average funded-borrower loan amount or average borrower credit score
- The lender network accepts loan requestors with all credit scores
- Applicants with good or excellent credit may receive more favorable terms
- PersonalLoans.com states that its network generally serves borrowers with different credit profiles
- Actual loan amount, APR, fees, and repayment terms depend on the individual lender and the borrower's qualifications
Best For
- Short and long-term personal loans
What Valuable Tips Can We Give to People with Low Income?
People with a low income are a great target for loan sharks because a day may come when they will not make a loan payment. That is why we recommend that you carefully check loan flexibility factors. These are things like late fee penalties, refinancing options, and so on. Carefully discuss what will happen if you don’t make a payment with your lender. Some companies offer great options like skipping a payment, which you can easily do online with a single click of a button, with no late fees applied. On the other hand, some companies don’t offer flexible loan options, and we recommend that you skip them. Nothing is free! Flexibility can lead to a slightly higher APR, but the choice of APR vs. flexibility is yours.
Make sure that you read the contract carefully and that you can pay the loan on time. If not, you risk being in a debt cycle. There will be problems with personal loans, but not nearly as serious as with payday loans.
Work on your credit score and improve your overall financial situation. There are many things that you can do to improve your financial situation. Below we will list a few great ways to make and save money online.
We have listed a few companies that can help people with a low income to get a loan. However, the best way is to shop around. Apply for many companies and compare offers.
Try to avoid getting a loan.
We have a list of tips that will help you avoid taking out a loan.
https://www.elitepersonalfinance.com/how-you-can-avoid-payday-loans/
Conclusion
Getting a loan with a low income is possible, but we recommend trying other options. Carefully discuss all refinance options and make sure that you can pay everything on time. We recommend that you get a loan only as your final resort because there is a risk that you won’t be able to pay it off. At all costs, avoid payday loans and auto title loans.
