5 Best Small Personal Loans For Bad Credit: Get Debt Consolidation Loans

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No matter your emergency, you can take a personal loan for any reason. It usually has a fixed duration, fixed interest rate, and a set monthly payment schedule.

Personal loans are accessible to anyone since they typically don’t demand collateral and have lower interest rates than those on most credit cards.

We made this list to assist people who cannot traditionally receive loans from financial institutions. These platforms will help you choose between several lenders and choose the best offer for you.

We understand how stressful financial emergencies can be, so we made this list to help you decide faster on reliable platforms. We researched to pick only the best platforms and also created a buying guide that can be even more helpful for you.

So, without any further ado, let’s discover the best loan lenders on the marketplace and look at how we picked them for our list.

List Of Online Payday Lenders For Personal Loans With Bad Credit

  1. MoneyMutual: Overall Best Platform For Personal Loans; Editor’s Pick
  2. BadCreditLoans: Top Loan Company Offering Loans For Bad Credit
  3. RadCred: Get Bad Credit Personal Loans With Guaranteed Approval
  4. CashUSA: Reliable Loan Services To Get Fast Cash & Instant Loans
  5. PersonalLoans: Popular Loan Lenders For High Interest Loans

#1. MoneyMutual: Overall Best Platform For Personal Loans; Editor’s Pick


When it comes to reliability and honesty, MoneyMutual is one of the most reputable payday lending companies. The fact that they ensure transparency between the parties engaged in the transaction is one of the key factors contributing to their popularity.

MoneyMutual has served over 2,000,000 consumers throughout its existence, and the company has a reputation for providing exceptional customer service. Over the years, this payday loan website has advanced significantly.

You must first submit a form on MoneyMutual’s official website in order to identify lenders who can provide you with the amount you need. Once you submit the form, you can borrow money from one of the many lenders on the displayed list.

With the help of MoneyMutual, you can borrow up to $5,000 in a single transaction. They are renowned for responding quickly as well.

After you apply for a personal loan, you’ll soon receive feedback. If MoneyMutual approves your application, you’ll have the money in your account the following day.

Platform’s features

Easy apply

To be eligible for a loan from MoneyMutual, you must meet a few detailed requirements. According to the company, some of the conditions you must fulfill are that you must be a US national, at least 18 years old, and you must possess a valid checking account in your name.

Customers with both good and bad credit are eligible for payday loans from MoneyMutual’s lenders, but you must have a reliable source of income that brings in at least $800 per month.

Variety of landers

After you submit the application form to MoneyMutual, at least 60 lenders will review it and decide whether or not to make you a loan offer. After analyzing all loan offers, you are not required to accept any offered loans if they do not fit your financial situation. This is another aspect of the company that we admire.

Fast approval

Online payday loans are fantastic since you can apply for one without waiting for approval or going in person to a lender and filling out paperwork.

Visit MoneyMutuals instead, and you’ll need only to fill out a quick and simple application form with your personal, contact, and financial information.

Loan amounts 

The MoneyMutual platform is appropriate for borrowers seeking low-cost personal loans with durations ranging from three to 36 months and amounts between $250 and $5,000.

Your qualifications and the potential lender’s policies will determine the maximum amount. Each lender independently sets different terms.

Costs and fees

Most lenders within the MoneyMutual network have APRs between 5.99% and 35.99%. Your credit score, debt-to-income ratio, and payback period are just a few variables that will affect your pay rate.

After applying for a personal loan, you can compare each lender’s APR and loan fees before deciding which one to choose.


  • Over 60 different lenders are available 
  • The application process is simple
  • The range of loan amounts is from $250 to $5,000
  • There are no additional fees or tricks
  • Fast approval process
  • Safe and secure platform
  • Educational information on its website


  • It is not available in all states

⇒ Visit the Official Website of MoneyMutual

#2. BadCreditLoans: Top Loan Company Offering Loans For Bad Credit



For anyone looking for personal loans of $5,000 or less, Chief LLC operates the online lending platform known as BadCreditLoans.

When you have negative credit and applying for a personal loan might be challenging to find a company that will take a chance. But BadCreditLoans is here to help.

BadCreditLoans is not a direct lender; instead, it collaborates with other lenders willing to engage with borrowers. The company collaborates with other lenders willing to offer loans to borrowers who need them. BadCreditLoans has access to various direct lenders around the United States, and it links potential borrowers with them.

The BadCreditLoans network comprises lenders who provide money to small enterprises and startups, which will suit borrowers looking for a business loan. They are accessible at any time. Therefore, people with min credit score can seek money anytime they want or need it.

Platform’s features

Easy and transparent platform

BadCreditLoans is quite transparent about its offers. Also, the website is user-friendly and packed with helpful resources. As a result, it is simple to locate all the information you require, including the online application form for a payday loan.

You must explain to the lender why you require a payday loan and provide them with your personal and financial details in order for them to make you a loan offer and deposit the funds into your bank account.

User-friendly interface

The UI on BadCreditLoans is one of the most user-friendly, and finding your best rate simply takes a few minutes. BadCreditLoans operates by sending your papers to lenders in their database who might be a good fit for you.

Then, the financial institutions will determine your eligibility for a personal loan based on your credit score, credit history, and ability to repay.

Decent loan amount

This online financial marketplace aims to assist borrowers in obtaining small, unsecured personal loan with three to 36 months repayment lengths. Loan amounts might range from $500 to $5,000 or even $10,000.

Consumers with credit ratings below 500 will only be eligible to borrow $1,000, even though the program is meant to help those with bad credit get legitimate loans.

Suitable for bad credit score

Anyone who needs money urgently but doesn’t fit the criteria for a regular loan can benefit from BadCreditLoans. Those with poor credit and those without a consistent monthly income are included. If you fall within this category, you can apply and utilize them because they are designed for those who experience this particular difficulty.

Their main benefit is not having cheaper interest rates than other brands in this category. Because the brand exclusively collaborates with reliable and trustworthy partners, only they can connect you with the right people.


  • A large number of reliable lenders
  • The application process is free and easy
  • Less than 24 hours for the approval process
  • The platform is transparent, and it gives you all kinds of information about the loan
  • Educational information available on the website
  • A safe and encrypted platform
  • Dedicated customer service


  • The interest rates might be higher for users with bad credits 

⇒ Visit the Official Website of BadCreditLoans

#3. RadCred: Get Bad Credit Personal Loans With Guaranteed Approval



One of the most dependable providers for personal loans in the United States is RadCred. It gives you a selection of loan options. In contrast to direct lenders, RadCred is a third-party platform that facilitates the connection between lenders and borrowers.

You can connect with potential lenders by submitting a loan application. These lenders may then make loan offers to you, which you can accept or reject. Due to the website’s ease of use and interactivity, you may complete the application quickly from the comfort of your home.

For any type of financial emergency, you can use RadCred. This company could be able to help you with unforeseen expenses, house repairs, family trips, business beginning expenditures, and other financial emergencies. Above all, no contracts, upfront fees, or hidden costs exist.

Platform’s features

A quick and simple application process

The fantastic RadCred website makes the application procedure quick and simple. Any novice may use it without difficulty, but it also offers the support you need if you have any questions when applying.

You can connect with potential lenders by submitting a loan application. These lenders may then make loan offers to you, which you can accept or reject. Due to the website’s ease of use and interactivity, you may complete the application quickly from the comfort of your home.

Rational application requirements

Unlike many other loan offering platforms, RadCred won’t ask you for too much information during the application process. Of course, you must be an adult, be a U.S. citizen or permanent resident, and have a valid Social Security Number.

Besides that, the company will ask you if your check account is legitime and additional information about your monthly income.

Money deposit within 24 hours

After accepting the terms, you can get the money in your bank account within 24 hours. We should also mention that you should contact your lender if you are having trouble making your payment on time since you can be given an extension.

The service is free to use, and even after you are qualified for a quick loan, you can still decide if you want to accept the loan or not. This program provides six-year flexible loans with some of the best payback terms available in addition to short-term loans.

Flexible repayment period

It is possible to have a repayment period that lasts between 90 days and 72 months. You might be able to get guaranteed bad credit loans and flexible payment terms from the lenders even if you have a bad credit history.

Safe and secure platform

Your personal information is protected by RadCred using the most up-to-date high security and data encryption technologies. You don’t need to worry about your privacy because their security system comprises encrypted files and computer safeguards.


  • A quick and simple application process
  • Won’t ask you for too much information when applying
  • Fast access to loan (less than 24 hours)
  • A secure and trustworthy company
  • Maximum loan amount of $10,000
  • Encrypted technology for the safety of your information
  • A helpful and 24/7 available customer service


  • The less loan you can borrow is $1,000

⇒ Visit the Official Website of RadCred

#4. CashUSA: Reliable Loan Services To Get Fast Cash & Instant Loans



CashUSA is an online lending marketplace where you can get payday loans without a credit check. Some of the most economical loan arrangements are accessible to borrowers.

A selection of lenders is available on this platform. As an intermediary between you and lenders willing to work with you, CashUSA acts as a funding or loan servicing source. Due to their extensive network of lenders, you do not need to utilize your vehicle or home as collateral.

As a result, you are free to overspend the money. There aren’t many limitations on how you can spend the funds from CashUSA lenders, whether it is to pay an unforeseen bill or further your education. If you are accepted and sign the contract, a credit inquiry will be run and recorded.

Platform’s features

Fast loan request processing

When you engage with CashUSA, your online request form is handled promptly, in contrast to applying through a conventional bank. In fact, lenders can get your loan request right away.

That’s very outstanding considering the weeks it can take for an application to move through the bank’s bureaucracy.

Secure site

The safety of online loan applications is crucial since the platform contains a lot of your personal information. You must only use loan portals with safe and secure platforms, and CashUSA is one of them.

The platform uses the most cutting-edge encryption technology to keep all of your information secure and private. The website also checks daily to ensure the system is safe and has no security holes.

Autopay and online payments

The ease of making payments is one of the advantages of CashUSA that we appreciate the most. You can simply make your monthly payments online. There is no need to mail checks or rely on the postal system, and there are no late fees for misplaced or delayed expenses in the mail.

You can also establish auto payments with the lenders in the CashUSA network for even more ease. Thanks to this function, you won’t ever have to worry about making loan payments again.

Each month on the scheduled day, your bank automatically sends the loan payment to your lender’s account. This is a surefire method to maintain the status of your loan repayments (and build your credit incidentally).

Suitable for bad credits

The fact that CashUSA doesn’t restrict its services to those with excellent credit is another thing for praise. Even those with the lowest credit scores can use it. You won’t be denied only for having bad credit, which is a significant benefit for people who have already been turned down.


  • An extensive network of secure lenders
  • Without any additional fees
  • Easy application process
  • Decent loan amounts
  • A repayment period from 90 days to 72 months
  • A secure and fast platform
  • Top-notch customer service


  • The application process requires too much information

⇒ Visit the Official Website of CashUSA

#5. PersonalLoans: Popular Loan Lenders For High Interest Loans



PersonalLoans is a dedicated online platform that links borrowers and different lenders. The loan amount, conditions, and rates are typical and differ for various lenders.

Several different loan kinds are available, including bank, peer-to-peer, and installment loans. Use these loans for everything from paying rent and taxes to paying for travel, vacations, medical operations, and home improvements.

For more than 20 years, PersonalLoans has been in the business of bringing together borrowers and lenders. It is a reliable platform with reputable lending partners that offers loans through efficient and secure transactions. Additionally, it is an OLA member (Online Lenders Alliance) that guarantees ethical and just business operations online.

PersonalLoans is one of the few internet loan platforms that would introduce you to a lender without meanwhile collecting information about your bank account.

As a result, you can view the offers you can anticipate without having to reveal your personal information. That is a significant benefit for PersonalLoans.

Platform’s features

Straightforward application process

The online loan application process at PersonalLoans is quick, easy, and straightforward. Only by following a few simple steps will your information be available to a huge network of lenders and third-party platforms.

If your loan application is approved, you could get the money in your account as soon as the next working day. The loan application process is explained on the PersonalLoans website in simple and straightforward terms.

Flexible option

With an APR starting at 5.99% and repayment durations ranging from 90 days to 72 months, PersonalLoans is a loan service platform that provides some of the most flexible conditions.

You can borrow as little as $1,000 up to a maximum of $35,000 with this service. Having said that, you must make a minimum monthly income of $3,000 for bank loans, $2,000 for peer-to-peer loans, and personal installment loans.

Adjustable repayment terms

The repayment terms are not directly related to RadCred.The lender you choose will specify the repayment period, varying from three to 36 months, depending on your accessibility and the loan itself.


Borrowers have various options to pick from, depending on the loan requirements. This includes peer-to-peer loans, installment loans, and bank loans. Each loan has a different set of lending conditions and credit score requirements.

As a result, borrowers can select the loan type based on their credit requirements. This company’s official website lists the loan options offered to borrowers.


Through the use of cutting-edge data encryption technology, PersonalLoans safeguards all information shared on the platform. This ensures that no third party can access any private information given by the users.

Additionally, it gives consumers confidence and enables them to access the site from the convenience of their homes. On its home page, the company reassures users of security issues.


  • Free and easy application
  • Transparent platform
  • Maximum loan amount of $35,000
  • Different kinds of loans
  • Fast access to money
  • A secure platform


  • Requires a monthly salary

⇒ Visit the Official Website of Personal Loans

How We Made This List Of Bad Credit Loan Lenders For Personal Loans?

Credit requirements

Nearly all lenders use the applicant’s credit score when deciding whether to approve a loan application.

Some lenders only work with applicants with FICO scores of 740 to 780 or higher, known as “super-prime” borrowers (depending on the lender). Others focus on borrowers with FICO scores above 680 or prime and super-prime.

So, we were looking for more forgiving lenders, and the platforms we chose are also suitable for people with bad credit. Some lenders offer loans in the subprime range to applicants with FICO ratings of less than 600.

Underwriting process

The underwriting procedure used by each lender varies slightly. When choosing whether to issue a loan, we prefer lenders who consider factors other than only credit score and debt-to-income ratio.

Borrowers with poor credit or recent credit blemishes may benefit from nontraditional underwriting considerations, including job history and educational attainment.

Credit type

On this list, the majority of the lenders provide unsecured personal loans. We appreciate financial institutions that offer unsecured personal credit lines, which function similarly to credit cards but frequently have bigger borrowing limits and cheaper interest rates.

Funding speed

Faster funding is preferable, so we chose lenders who finance loans online in just one or two working days, ensuring that the borrower receives the loan funds 24 to 48 hours after the application is accepted.

Nevertheless, because each application is unique, it is not always possible for lenders to respond to requests so swiftly.

Loan purpose

Most personal lenders let you utilize the money from your loan for pretty much anything. They do not influence what you do with the money after sending it to you.

However, a small number of lenders concentrate on loans for specific needs. Consolidating credit card debt is the main objective in contrast to sending the loan funds to your bank account and relying on you to pay off the debt.

Some companies directly pay off any liabilities you would like to consolidate. Although convenient, this also forces you to use the loan for the intended purpose.

Term length

Every lender has different terms when it comes to the loan repayment period. A loan with a shorter duration is typically preferable if you want to pay the least amount in borrowing costs. On the other hand, monthly payments for loans with shorter terms generally are greater.

The quantity of the loan can also affect how long the term is. If you request a $5,000 loan, your maximum term duration might be 36 months. It could take 84 months or longer for a $50,000 loan.

In any case, we prefer lenders who provide a variety of loan terms, including one- to two-year durations for borrowers with smaller amounts of debt.

Interest rates

In actuality, personal loan interest rates can change at any time. Two lenders may provide the same borrower with drastically different interest rates based on their opaque underwriting procedures. That depends on how hazardous the underwriting model of the lender determines the borrower to be—an evaluation that isn’t always completely unbiased.

Having said that, some lenders are renowned for having low maximum interest rates or for giving well-qualified customers very low speeds (below 6 percent APR) (below 20 percent APR). We included this data in our evaluations but didn’t emphasize it much.

Guide: Things to Consider When Looking for Personal Loan Lenders

Interest rates, fees, and repayment terms are just a few of the many things to consider when considering a personal loan is a suitable choice for you. Finding the most acceptable personal loan for you will take some time, but receiving the most excellent offer from a reliable lender will be worthwhile.

Bad Credit personal loans are provided by numerous financial institutions, including credit unions, online lenders, and peer-to-peer lenders. However, loan terms and conditions might differ from lender to lender, ultimately affecting the total amount you’ll have to repay. Therefore, it is crucial to do some research before applying.

When choosing a personal loan lender, consider the loan’s cost, terms, and length of time from application to funding. You should examine the following considerations when determining personal loan providers.


It is crucial to compare the prices and rates of loans before choosing a lender. Rates and fees are considered while calculating the Annual Percentage Rate (APR). Your interest rate will depend on your credit score.

Interest rates

Getting the best interest rate is the objective because it will often impact how much you spend overall for a loan. The lender, your credit, and several other variables all affect rates.

Specific lenders will lower their rates if you sign up to have your monthly loan payment automatically debited from your bank account.

In order to accurately evaluate loan offers, if you receive a request from a lender that provides this option, be careful to compare the discounted rate with the other quotations you obtain.

Generally speaking, those with higher credit scores are eligible for cheaper rates than those with lower scores. But, it is helpful in comparison shops because different lenders have varying requirements for approving customers.


The fees associated with your loan are another factor influencing its overall cost. The following charges may be related to some loans while not being linked with others:

  • Fees for completing your loan application and distributing the funds are known as origination fees. At large lenders, they frequently vary from 1% to 8% or more of the loan amount.
  • Processing costs – Your lender might assess the cost of handling your monthly payment.
  • Prepayment fees – If you pay off your balance before the loan term has ended, some lenders may impose a prepayment fee.
  • While late fees are not specific to personal loans, you should still determine if your lender levies them and how much they cost.

Loan amounts and repayment terms

Depending on the lender, loans often have repayment lengths of 12 to 84 months and typically range from $1,500 to $100,000. The total amount of interest you pay will normally be lower if you choose a loan with a shorter term, but your monthly loan payments will probably be more significant.

On the other hand, if you lengthen the loan period, your payments might be cheaper, but you’ll probably wind up paying more in interest overall.

It may be helpful to figure out how much interest you’ll pay overall for the loan to compare your options. However, before applying, be sure you can afford the monthly installments.

Application process

Along with your own application, take into account the lenders as well. Getting a loan from a local bank or credit union can be a good idea.

It is crucial to remember that specific small lenders don’t offer online or automated applications for longer application processes. If you prefer not to apply in person, pick a lender that accepts online applications.

Also, the application process should be easy and simple so that you won’t get confused. The user interface should be straightforward so customers of any age can understand it.


Where you want to borrow money may depend on how quickly you need it. While some lenders may require five to ten business days or more, other lenders can process loan applications and get your money into your account in as little as one or two business days.

Eligibility requirements

Lenders want to make sure you can make your loan payments on time. They consider many variables before approving your loan application to assess your credit risk. Here are a few ideas they might think about:

  • Credit reports and scores lenders can determine how likely you are to repay a debt using your credit ratings and reports.
  • Income help assesses whether you earn enough money to repay the loan; lenders may want to look into your income.
  • Debt-to-income ratio contrasts your gross monthly income with your monthly debt payments. It aids lenders in determining whether you have too much debt to qualify for another loan. You should keep your debt-to-income ratio as low as feasible.

Each lender has a different set of minimal requirements for loan eligibility. It is not a guarantee that you won’t be able to obtain a loan from a different firm if you are rejected by one.

Approval & funding speed

The time it takes to approve a loan is typically correlated with how quickly it is disbursed. Online applications and automated procedures let lenders process loans more rapidly.

However, many lenders would only cooperate with applicants with excellent credit. If your credit history has a blemish, a lender with less strict credit score requirements, such as an online lender, a local bank, or a credit union, may be better for you.


Take into account the loans’ privacy policies. The two most frequently offered assurances by lending platforms are anonymity and data integrity.

To prevent the repercussions of a data breach, you should confirm any such claims before applying for a personal loan. Ensure your loan provider protects your personal information with a reliable encryption system.

Customer reviews

It is essential to review customer reviews of the customer service and response times of various short-term loan firms to choose the best online loan platform. To confirm their ratings, approach the Consumer Financial Protection Bureau (CFPB).


Some con artists may offer low-interest loans. However, keep in mind that the interest rates on most no credit check loans are a little higher.

Before choosing one of a loan company’s goods, it is a good idea to examine the client reviews area of the website. You will be able to evaluate the organization’s and its financing partners’ integrity in this manner.

FAQs On Bad Credit Personal Loans Online

Q1. How do personal loans work?

Usually, banks, credit unions, and online lenders offer loans. Approval or rejection decision is made when prospective borrowers apply for a loan, either in person or online.

If accepted, the funds are transferred to the borrower’s bank account in a single lump sum, and interest accumulates after the first month. Throughout the loan, usually between one and seven years, loans need fixed monthly payments.

Q2. What is the difference between secured and unsecured loans?

Secured loans frequently have lower interest rates because the borrower risks losing the personal property if they fall behind on payments. Secured loans are ensured by a component of the borrower’s property, a car or a house.

Any asset does not secure unsecured loans; the borrower’s creditworthiness is used as security. Interest rates for unsecured loans are often higher because the lender is taking on greater risk.

Additionally, lenders demand that applicants for unsecured loans have credit scores that are above average. Understand the main distinctions between secured and unsecured loans.

Q3. How are APRs defined for personal loans?

The Annual Percentage Rate (APR) is the loan’s total cost per year. It is defined by several factors, including interest rates, fees, and the repayment period of the borrowed money.

Some lenders prefer APRs that involve origination fees, while others separate them from the loan amount at the time of funding.

However, the personal loan’s Annual Percentage Rate (APR) can differ widely depending on your creditworthiness, the loan size, the lender, and the repayment period.

Q4. What kind of documents do I need for personal loans?

To qualify for a personal loan, you will typically require many documents that attest to your identification and financial standing. Typically, you’ll need an ID, proof of income, and an address.

Thanks to those documents and the rest of your information, the lender can establish what origination cost you will have to pay, if any.

Q5. What can I use a personal loan for?

Whatever you want to do with your personal loan, as long as it is lawful, is OK. Debt consolidation, home improvements, cars, weddings, vacations, and unexpected costs are the most frequent reasons people take out debt consolidation loans.

You cannot utilize a personal loan to cover your educational expenses, and specific lenders may impose additional limitations. The payoff, for instance, only offers loans to consolidate credit card debt.

While some lenders request the purpose of the loan, most of them don’t care how you’ll spend your money as long as you are qualified to receive them. Before applying for a personal loan, you must review your credit report and handle any errors that might affect your score.

Q6. How much money can I get with a personal loan?

Your credit score has a significant impact on the exact loan amounts that you can borrow. The good news is that you’ll probably be able to access the full range of loan amounts that a lender offers if you have exceptional credit.

Most lenders offer minimum loan amounts between $1,000 and $5,000 and maximum loan amounts between $50,000 and $100,000.

Conclusion: Get Emergency Cash Immediately From Top Personal Loan Lenders

Well, this is the very end of our article. All the platforms we have listed above are reliable, have a wide range of loan sizes, fast approval, and excellent customer service.

If you need money quickly, you can rely on each platform that offers personal loans for bad credit. The main things you need to consider are the interest rates and monthly payments.

We hope we have assisted you in finding the best personal loan platform to help you solve all your financial difficulties while you don’t have to worry about your safety and privacy.

All you need to do is make up your mind and borrow the funds you need. Therefore, good luck with choosing the best one for you!