Loan Companies Like BadCreditLoans, CashUSA, Avant, SignatureLoans, PersonalLoans
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Loan Reviews

Loan Companies Like BadCreditLoans, CashUSA, Avant, SignatureLoans, PersonalLoans

EPF Last Update: July 16, 2019

Have you heard of BadCreditLoans, CashUSA, Avant, SignatureLoans or PersonalLoans?

If you have bad credit and you’ve been searching for a loan – the answer is probably yes!

What these companies have in common is they offer personal loans to borrowers with extremely bad credit. And if you’re considering a payday loan, don’t do it! They have average APRs of 400%!

Loan CompanyMin Credit ScoreAPRAmountType
BadCreditLoans05.99% – 35.99%$5,000Personal Loans for Really Bad Credit
CashUSA05.99% – 35.99%.$10,000Secured Personal Loans for Bad Credit
LendingTree5003.99% – 35.99%.$35,000Personal Loans for Bad Credit
SignatureLoans05.99% – 35.99%$35,000Co-Signer Loans for Bad Credit
Credible5005.34% – 35.99%$35,000Personal Loans for Bad Credit
PersonalLoans5805.99% – 35.99%.$35,000Personal Loans for Bad Credit

The companies that we review here obey the ‘personal loan standard.’ Their APRs do not exceed 35.99% and nearly all of the loans are unsecured. But, if your credit score is really low and you don’t qualify for an unsecured loan, you can opt for a secured loan by putting up collateral or using a co-signer. Whatever your preference, the companies below allow you to get a bad credit personal loan and avoid payday loans!

Now, companies like PersonalLoans, LendingTree, Avant and Credible didn’t always offer bad credit loans. They’re large companies that changed their business models due to increased demand. For more information, see our detailed guide. If you don’t need a loan right away and have the time to work on your credit score, these companies can offer you great lending terms and low APRs.

Conversely, we categorize companies like Opploans and LendUp as alternative lenders. Their loans are designed for people with extremely bad credit, but because their APRs exceed 35.99%, we don’t classify them as personal loans. For more information on how the two differ, check out our alternative lending guide.

BadCreditLoans

Loan amounts$1,000 – $5,000
Typical APR5.99% – 35.99%
Min Credit Score0
Time to funding1 Day
Loan terms3 – 36 months
Origination feeN/A
Debt-to-income ratioN/A
Check rates

BadCreditLoans should be a top choice if you have really bad credit. You can borrow anywhere from $500 to $5,000, and because their loans are unsecured, there is no collateral needed. Their APRs range from 5.99% to 35.99%, but if you have really bad credit, expect an APR that’s roughly 20% or more. As well, if your credit score is really bad, you’ll most likely qualify for $1,500 or less.

Pros:

  • Loans are designed specifically for borrowers with extremely bad credit.
  • BadCreditLoans does not require a minimum credit score.
  • APRs are capped at 35.99%, which makes them identical to personal loans.

Cons:

  • If you have really bad credit, expect your APR to range from 20% to 35.99%.
  • Even though the company offers loans up to $5,000, those with really bad credit may only qualify for $1,500.
  • Not all applications are approved.

CashUSA

Loan amounts$1,000 – $10,000
Typical APR5.99% – 35.99%
Min Credit Score0
Time to funding1 Day
Loan terms24 – 60 months
Origination feeN/A
Debt-to-income ratioN/A
Check rates

CashUSA is another great lender if you have really bad credit. But, its loans are designed a little different. Similar to car title loans, you need to put up your car as collateral. However, unlike car title loans – that sport average APRs of 300% – CashUSA’s APRs range from 5.99% to 35.99%. You can borrow anywhere from $500 to $10,000 and the company offers more to select borrowers who qualify. However, if you have really bad credit, you may only qualify for $1,500 or less. Keep in mind though, because loans are secured, there is a chance you could lose your car. We only recommend putting up collateral if you’re sure you can repay the debt on-time and in-full.

Pros:

  • There is no minimum credit score requirement.
  • Some borrowers with bad credit have received APRs as low as 10%.
  • Loans can exceed $10,000, but you need to talk with the company directly.

Cons:

  • Because loans are secured, there is a chance you could lose your car.
  • If you have really bad credit, your APR will most likely fall between 20% and 35.99%.
  • Not all applications are approved.

PersonalLoans

Loan amounts$1,000 – $35,000
Typical APR5.99% – 35.99%
Min Credit Score580
Time to funding1 Day
Loan terms90 days – 72 months
Origination fee1 – 5%
Debt-to-income ratioN/A
Check rates

Like Avant, PersonalLoans also requires a minimum credit score of 580. You can borrow anywhere from $1,000 to $35,000 and APRs range from 5.99% to 35.99%. However, unlike Avant, you only need ‘regular’ income to qualify. You can report full-time, part-time or self-employment, or use disability or Social Security benefits as a means to qualify.

Pros:

  • A minimum credit score of 580 makes Avant a reliable option if you have bad credit.
  • Avant only requires ‘regular’ income to qualify, which can come from various sources.
  • Repayment terms range from as little as 90 days to upwards of 72 months.

Cons:

  • If you have really bad credit, your APR will most likely be 20% or more.
  • Loan origination fees vary depending or your credit score and credit profile.
  • If your credit score is less than 580, you likely won’t qualify.

SignatureLoans

Loan amounts$1,000 – $35,000
Typical APR5.99% – 35.99%
Min Credit Score0
Time to funding1 Day
Loan terms24 – 60 months
Origination feeN/A
Debt-to-income ratioN/A
Check rates

 

With no minimum credit score requirement, SignatureLoans is a great place to obtain an unsecured loan. You can borrow anywhere from $1,000 to $35,000, but if you have really bad credit, expect to receive $5,000 or less. APRs range from 5.99% to 35.99%, but you need a minimum monthly income of $1,100 to qualify. Its application process is also quick and easy. You can use the company’s e-signature feature and never have to mail in any physical paperwork! Keep in mind though, residents of Maine are not eligible.

Pros:

  • No minimum credit score requirement.
  • Loans can reach upwards of $35,000, which makes them great if you have large expenses.
  • A streamlined application process makes applying for a loan quick and easy.

Cons:

    • To qualify, you need a monthly income of at least $1,100.
    • Loans are not available in the state of Maine.
    • Not all applications are approved.

Credible

Loan amounts$1,000 – $100,000
Typical APR5.34% – 35.99%
Min Credit Score500
Time to funding1 Day
Loan terms90 days – 72 months
Origination fee0% – 8%
Debt-to-income ratioN/A
Check rates

With no hidden fees and a minimum credit score requirement of 500, Credible is a great place to obtain a bad credit loan. Unlike the lenders above, its APRs start at 5.34%, making Credible loans slightly cheaper than the competition. APRs top-out at 35.99% and you can get pre-qualified rates in as little as two minutes. You can borrow anywhere from $1,000 to $100,000, but if you have really bad credit, you shouldn’t expect any more than $5,000. Repayment terms range from as little as 61 days to upwards of 120 months. Keep in mind though, your debt-to-income ratio plays a big role in whether or not you’re approved. You also need to have ‘steady’ income.

Pros:

  • Starting at 5.34%, Credible’s APRs are less than the competition.
  • You can receive a pre-qualified loan in 2 minutes or less.
  • There are no hidden fees and you only need ‘steady’ income to qualify.

Cons:

  • Loan origination fees can be anywhere from 0% to 8%.
  • Credible places a lot of emphasis on your debt-to-income ratio.
  • If your credit score is less than 500, you likely won’t qualify.

LendingTree

LendingTree Personal Financing Site Logo
Loan amounts$1,000 – $35,000
Typical APR3.99% – 35.99%
Min Credit Score500
Time to funding1 Day
Loan terms1 – 5 years
Origination fee0 – 3%
Debt-to-income ratioN/A
Check rates

Like Credible, LendingTree also has a minimum credit score requirement of 500. And as one of the most well-known names in the industry, it’s a great place to obtain a bad credit loan. Loans can reach upwards of $35,000 and APRs range from 3.99% to 35.99%. But if your credit score is near 500, you’ll likely receive an APR of 20% or more.

Pros:

  • As a household name, LendingTree has provided over 10 billion in loans.
  • A minimum credit score requirement of 500 makes it a great option if you have really bad credit.
  • APRs begin at 3.99%, making LendingTree much cheaper than other competitors.

Cons:

  • A loan origination fee of 0% to 3% will apply, but the figure is less than most of its competitors.
  • If you have bad credit, your APR will likely be 20% or more.
  • If your credit score is less than 500, you likely won’t qualify.

Avant

Loan amounts$2,000 – $35,000
Typical APR9.95% – 35.99%
Min Credit Score580
Time to funding1 Day
Loan terms24 -60 months
Origination fee2% – 5%
Debt-to-income ratioN/A
Check rates

Unlike the three options above, Avant has a minimum credit score requirement of 580. Loan amounts range from $2,000 to $35,000 and APRs range from 9.99% to 35.99%. Keep in mind though, Avant only approves borrowers with a minimum annual income of $20,000. As well, Avant does not offer loans to resident of Colorado, Iowa, Vermont or West Virginia.

Pros:

  • With a minimum credit score of 580, Avant is a great option if you have bad credit.
  • If approved, you receive your funds in as little as one business day.
  • A recent survey by Avant found that 94.64% of its customers were happy with the company’s service.

Cons:

  • To finalize your loan, a 4.75% administration fee will apply; but it’s included in your APR.
  • You need a minimum annual income of $20,000 to qualify.
  • Loans are not available to residents of Colorado, Iowa, Vermont or West Virginia.

How Do I Obtain The Cheapest Loan?

Before accepting any offer, we always recommend you conduct a thorough search. At first, only apply for personal loans. If you’re denied, then move on to other products.

Here’s how to obtain the cheapest loan:

  • Apply For An Unsecured Bad Credit Personal Loan: Apply to as many lenders as you can. They all perform a ‘soft’ credit pull, so it won’t affect your credit score in any way. We recommend you start with at least 5 to 10 lenders to see who comes up with the best offer. Denied Application: If you’re denied a personal loan, it’s not the end of the world! Speak with the lender directly and ask why your application was denied. Ask if there is anything you can do or if lowering the amount can change the result.
  • Apply For A Secured Personal Loan: This is option number-2. While it’s risky to put up collateral, the practice will increase your chances of approval and allow you to lower your APR. But, only do so if you know you can repay the funds, otherwise you risk losing your property.
  • Apply For A Co-Signer Loan: If you don’t have the collateral for a secured personal loan, a co-signer is a great way to obtain better loan terms and decrease your APR.
  • Apply For An Alternative Loan: If you can’t find a co-signer, an alternative loan is you next best option. Alternative loans are more expensive than personal loans, but much cheaper than payday loans. APRs range from 35.99% to 400%, but many lenders cap their APRs at 100% to 200%.

If That Doesn’t Work, Then What?

If you’ve gone through the list above and still can’t get approved – it’s time to work on your credit score!

Alternative lenders are extremely accommodating, so if they deny your application, you need to reevaluate your financial situation.

Start by getting your bills in order. Since 35% of your FICO score is calculated by assessing your payment history, staying up-to-date on all your transactions will move your credit score in a positive direction. Look, we understand. If it were that easy, you wouldn’t be looking for a bad credit loan! But, small steps can make a big difference and you need to start somewhere!

Next, keep credit card charges to less than 30% of your limit. Since credit usage accounts for 30% of your FICO score, keeping your balance in check will have your credit score trending higher. For tips on how to appear more creditworthy to lenders, check out or detailed guide.

Last, take advantage of Experian Boost and Ultra FICO. The new credit scoring models – which took effect in 2019 – use your utility, phone and TV bill payments, as well as your checking, saving and money market account behavior to increase your credit score. Enrollment is voluntary, but Experian found that 75% of people with credit scores less than 680 improved their credit scores after signing up for Experian Boost. Similarly, with Ultra Fico, by maintaining an average savings balance of $400 – with no negative balances within a three month period – you can receive an initial boost in your credit score by as much as 20 points.

For a detailed breakdown on what both have to offer, see our guide on credit report changes.

Whatever You Do, Avoid Payday Loans!

Trust us, payday loans are extremely predatory. They have APRs that average 400% and lenders use manipulative tactics to keep you stuck in a vicious debt cycle.

You may come across advertisements like: $300 payday loan for only $30!

But, what payday lenders don’t tell you is how quickly interest charges can get out of hand. Remember, the loan is only for a two-week period. And say your hours are cut back at work to where you can’t repay the loan, you’ll incur rollover charges and late payment fees. Suddenly, your $300 payday loan has a $30 rollover charge, plus another $30 in interest for the two-week extension. You end up paying $90 in interest and fees for a 4-week loan.

Moreover, payday lenders are extremely aggressive when it comes to collecting their funds. They’ll debit your bank account continuously to try and recoup whatever money they can. This can lead to significant bank overdraft fees and hurt your finances even more. The Consumer Financial Protection Bureau (CFPB) found that 20,000 bank account holders who made payments to online payday lenders incurred an average of $97 in overdraft and non-sufficient funds fees. The figure is nearly three times more than the $34 incurred by the average American.

Elite Personal Finance

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