According to the latest results conducted by credit reporting bureaus, around 16% of Americans have very poor credit, around 18% fair credit, and only around 1% excellent credit score. Of course, these percentages vary from state to state, but we can all agree that not many Americans can obtain loans without waiting for approvals for too long and paying high fees.
Given the situation, people with bad credit have the option to check the online loan market and try to obtain money from online lenders. While online marketplaces provide convenience, many of them are aware of the customers’ vulnerability and need for cash, so they take advantage of the situation and make money out of the people’s misery.
We believe you deserve more and better. We researched and reviewed a lot of companies and eventually came up with five outstanding lending platforms where you may find best bad credit loans with guaranteed approvals.
So, what are we waiting for? Let’s check these notable companies and their features.
Top 5 Lending Platforms For Bad Credit Loans With Guaranteed Approval
- MoneyMutual: Overall Best Online Lender For Bad Credit Loans
- Bad Credit Loans: Top Lender For Bad Credit Personal Loans
- RadCred: Best Direct Lender For No Credit Check Loans
- FundsJoy: Popular Lender For Quick Cash Advance Loans
- CashUSA: Get Best Mortgage Rates On Instant Loans
#1. MoneyMutual: Overall Best Online Lender For Bad Credit Loans
For more than 10 years, MoneyMutual has provided a customer-friendly and convenient online space where people can shop for loans regardless of their credit scores. The lending platform is highly protected and secured, collaborates with numerous reliable lenders, and offers a hassle-free loan form.
There’s no need to tell – these three factors are the most crucial ones that make MoneyMutual the best of the best. This fantastic lending platform may help you connect with lenders who work with bad credit loans within several minutes after you apply.
Therefore, let’s check the platform’s features and the application process so that you can apply for a loan as soon as possible.
The website is highly protected in accordance with industry standards. The company uses brank-grade encryption and has a valid certificate that confirms the platform’s security. The platform is also certified by TrustedSite, which regularly monitors the platform security and keeps track of the detected issues.
MoneyMutual is not a direct lender, meaning it doesn’t offer loans itself. Also, the company it’s not involved in the preparation of the offers you may receive. This means that the company can’t guarantee any deals and can’t determine the cost of the loan you may get.
Unlike many other loan marketplaces, MoneyMutual is very concise and transparent about its role in the process. This characteristic adds much to the company’s trustworthiness, and it’s one of the reasons why more than 2 million clients trusted MoneyMutual with their personal and financial information.
MoneyMutual collaborates with more than 100 credible lenders and lending unions. Their availability depends on multiple factors, including but not limited to how much money you need and your credit score. For instance, if you want to borrow around $2,000, there may be around 60 lenders online, but the number of available lenders online may reduce if you want to borrow $4,000 or $5,000.
Of course, these statistics are not important in your application process because the platform will take care of it. You only have to enter your information correctly and let MoneyMutual handle the rest.
Before you apply, we would like to discuss the potential offers you might receive. As we said, MoneyMutual doesn’t make any claims or guesses regarding the lenders’ fees and offers. However, on the company’s website, you can see that the company has guides about bad credit loans, cash advances, and payday loans. Therefore, we may assume that these loan types are frequently requested through the platform.
MoneyMutual is a customer-friendly platform, and its representatives are willing to help anyone they can. However, the company has several criteria when it comes to the application process.
That’s expected because MoneyMutual’s services are free for the customers, and the company has to set some standards to keep its lenders’ network safe. Still, the company has some of the lowest eligibility criteria, and most people meet them.
If you want to apply, you need to be a US citizen of at least 18. Furthermore, you should have a regular monthly income of at least $800. You’ll also need a valid email, phone number, and a checking account.
Of course, to prove the information you enter is true, you’ll have to submit evidence, such as zip code, SSN, ID, etc. Keep in mind that MoneyMutual sets these criteria, and you have to meet them to be able to apply. Therefore, meeting these conditions doesn’t mean you’ll get a loan since that depends solely on the lender.
- Experienced company with more than 10 years in the business
- Bank-grade encryption and other security measures
- Trustworthy and honest
- Comprehensive lender network
- Low application criteria
- Free and very easy to use
- Not available in New York
#2. BadCreditLoans: Top Lender For Bad Credit Personal Loans
Another outstanding place you should visit for obtaining bad credit loans with guaranteed approvals is BadCreditLoans. With almost 25 years of experience, this lending platform can provide you with everything you need.
From educational articles on protective measures you should take or how to improve your credit to speedy service, to a vast lender network, and many more, BadCreditLoans is an all-in-one place for borrowers. Additionally, as its name suggests, this company has helped numerous clients with bad credit improve their credit history or obtain a loan at reasonable rates.
BadCreditLoans is a company with an impressive history, and we can’t wait to discuss its fantastic features with you.
BadCreditLoans is a company with a tradition and enjoys a lot of respect from clients and even from its competition. Since it managed to be among the best lending platforms for more than 20 years, there’s no doubt that the company employs serious security measures since that’s the first thing clients care about when they enter their information online.
If there were data outbreaks, malicious links, phishing, and other security issues, the company wouldn’t have managed to reach its 1-year birthday, let alone stand at the top in the industry for over 20 years.
Unlike the other platforms, BadCreditLoans shares multiple details about the possible loan offer you may receive. However, we shouldn’t confuse the information with claims or a guarantee since BadCreditLoans is not a lender and can’t predict the conditions of the loan you may obtain.
Still, those details can be constructive if you want to have a clue about some aspects of the loan offers. For instance, the company gives information about the loan term and the APR range. Again, those details are not definite, and the company bases them on the years of experience it has in the business.
You can find the information on the website because BadCreditLoans wants to give you an idea of how your loan repayment might be and the possible rates you might get. This is a significant indicator of the company’s transparency.
As we mentioned, BadCreditLoans is not a direct or indirect lender. The company focuses on making connections between borrowers and lenders willing to work with them. Therefore, the platform is not included in the offer or the agreement between you and the lender, and its job is finished once you accept the deal.
However, thanks to the experience gained over the years, BadCreditLoans can give you approximate details about the loan you may obtain so that you get the idea. For starters, the platform collaborates with loan providers who may offer you personal loans, business loans, auto loans, student loans, mortgages, and credit cards. But, if you’re eligible and a lender wants to work with you, you may obtain other loan types too.
The company’s APRs for personal loans often range from 5.99% to 35.99%, with loan terms from 90 days to 72 months. Again, this is not a statement. It’s only an explanation of the possible loan offer you may get. The terms will always depend on the lenders themselves.
The company says that your credit does not need to be perfect for applying for a loan. That’s because BadCreditLoans collaborates with numerous lenders willing to work with people with bad credit.
Even though your credit score may not be a problem, the company still has some conditions which clients need to meet if they want to use the platform and apply for a loan. Like the other platforms we reviewed, this company also serves US citizens or permanent residents only. Also, you should be at least 18 years old to apply.
Even though there’s no minimum income threshold, you’ll have to submit evidence that you get regular monthly payments as employed, self-employed, or receiving social security benefits. In addition, you’ll need a valid checking account in your name and provide personal information, such as phone number and email.
- A lending platform with a 20+ history and tradition
- Fast, free, and convenient service
- Vast lender network
- Secure and protected
- APRs can be high
#3. RadCred: Best Direct Lender For No Credit Check Loans
Here we have another fantastic loan marketplace, which may be very beneficial, especially for those in need of fast cash. The company works with the speed of the light, meaning you may get approval and your money as soon as the next business day.
RadCred is a highly respected and appreciated lending platform for multiple reasons. For starters, it provides a safe online space where people feel comfortable sharing their personal and financial information. Furthermore, clients trust and respect RadCred for its fast and free-of-charge service, straightforward online application, and network of credible lenders.
Let’s check the company’s features and see why so many people prefer RadCred over the other lending platforms.
First things first! RadCred is one of the most secure places you can visit to find a suitable lender. The company utilizes multiple security measures to protect the platform from unauthorized access and thus, protect the personal and financial information you’ll enter on the loan form.
Besides security systems and industry-standard encryption technology, the company also uses safeguards and other technologies that monitor and analyze the collected data.
While researching this company, we had to read customer reviews to see whether the clients were satisfied with the service. Of course, we did that for all companies included in our article. Besides talking and being satisfied with the service, RadCred’s clients also talked about the company’s straightforwardness and honesty. They said that it felt comfortable to trust such a company and let it do the work for you.
When it comes to guaranteeing rates and terms, this platform sticks to its principles and won’t lure you into believing that you’ll definitely take a loan under favorable conditions. On the contrary, the representatives are very professional and honestly talk about the loan offers the clients may receive, as they should. RadCred is not a lender, and it doesn’t claim it can help you get a better loan.
This marketplace is an excellent place to find lenders for personal loans. However, many people said they found lenders who offer bad credit loans and many other loan types. In addition, you may receive offers for other loan-related products, such as debt relief or lines of credit, because the platform collaborates with numerous lenders and lending companies.
When it comes to loan terms, rates, interest, and fees, RadCred doesn’t make any statements or claims. That’s because the offer you may receive will depend on the lender and their conditions, and the platform isn’t involved in the deal in any way.
The only information about the loans we could get from the website is that the lenders give loans up to $5,000. However, you should remember that the amount you may be offered will depend on your ability to repay the loan, your credit score, and the lenders’ conditions. Therefore, you may get more than $5,000 if your lender decides to give you.
The company’s website doesn’t say much about the criteria you have to meet to be eligible to apply. However, once you’re ready to apply, you can contact the customer service department, and the representatives will answer your questions.
If you don’t have time to talk with the support team, we can share some conditions that we assume are a part of the company’s conditions. First, the company serves US customers. Therefore, we assume you’ll have to submit evidence of your citizenship.
Furthermore, you have to be at least 18 years old to request a loan or 21 in some states. So, logically, you’ll have to submit your ID or driver’s license to confirm your age. Lastly, most of the platforms require a regular monthly income. Thus, we assume you’ll have to submit proof of your income.
You should remember that RadCred may have additional application conditions, so you should ask about them before applying. Also, keep in mind that these are application criteria, and they differ from loan criteria. This means that the lender willing to give you money may have additional requirements.
- A highly professional and trustworthy company
- Numerous lenders, lending unions, and lending companies
- Industry-standard security
- Speedy and free-of-charge service
- The website lacks some information
#4. FundsJoy: Popular Lender For Quick Cash Advance Loans
We love when companies go straight to the point. No tricks, no gimmicks, no never-ending front pages filled with advertising content – just open the website, fill out the application, and wait for a loan offer to arrive.
Like the previous company we reviewed, FundsJoy is another lending platform that checks all boxes. It’s free, it’s fast, and it’s customer-friendly. The platform offers a comprehensive network of credible lenders who are willing to work with people with all types of credit scores. Moreover, the application form is very convenient and easy to fill. In fact, we think you’ll need around 10 minutes to complete it.
FundsJoy has helped numerous customers obtain bad credit loans with guaranteed approvals as soon as the next business day after applying. Therefore, we can’t wait to share with you the features that mark this fantastic lending platform.
Since you’ll have to enter your personal and financial information, we guess you may feel concerned about the website’s safety. However, with FundsJoy, you’ll have no worries.
When it comes to security, FundsJoy employs strict protective measures following all industry standards. The measures include bank-grade encryption technology, safeguards, and advanced security systems in compliance with US laws. The company gives access only to authorized parties required for business management.
FundsJoy earns money from the commission paid by the lenders in its network. The company doesn’t charge the visitors of the website and those who want to use its service to find a lender. Since it is not a lender, the company doesn’t have anything to do with the offer you may receive.
Given that FundsJoy is a highly transparent platform, it can’t and doesn’t make any claims and guarantees about the potential loans and offers. The company gives its best to explain the process to the customers. You’ll also find information about the possible rates that may or may not apply to the loan offer. However, that’s not a statement since, as we said, the offer will depend on the lender.
This lending platform collaborates with numerous trustworthy lenders. Even though the company can’t guarantee you’ll get an offer as you like, the lenders found on the platform abide by the law and are authorized to do the job. Also, they often are willing to work with clients with bad credit and employ responsible lending principles.
Usually, people use FundsJoy to find lenders who offer no credit check loans with bad credit, cash advance loans, short-term personal loans, or installment loans. The loans range from $200 up to $5,000 with APRs from 4.99% to 450%.
However, keep in mind that FundsJoy can’t predict or guarantee the terms you’ll receive. The loan term, fees, rates, collection, renewal, and other loan-related terms depend solely on the lender. Therefore, you should carefully read the deal before accepting it.
To find a lender through FundsJoy, you’ll have to complete a loan form provided by the platform. The application form is so simple and easy to fill that you’ll need around ten minutes to finish it.
The entire process takes solace online. You’ll have to answer several questions and submit evidence that confirms the information you’ll enter. But don’t worry. FundsJoy doesn’t have rigorous application criteria.
If you want to apply, you only have to be at least 18 years old and a US citizen. You’ll also have to submit proof of your income. The website doesn’t say how much money you’ll have to make to be eligible, but it says that you need to have a stable source of monthly income. Of course, the lender may have stricter eligibility criteria.
- Customer-centric company
- A comprehensive number of lenders
- Highly secured and protected
- Free and convenient
- People with bad credit may apply too
- No educational articles or helpful tools
#5. CashUSA: Get Best Mortgage Rates On Instant Loans
Last but not least, in our review of the best lending platforms, we included CashUSA, as this is one of the most trusted sites in America. This is an excellent place to meet a lender, make an arrangement, take a loan as soon as possible, and enjoy your money.
Moreover, you can do all of that from the comfort of your living room without worrying about your personal information, paperwork, credit score, anxiously-long bank lines, and many other things.
As one of the most trusted lending platforms, CashUSA has helped hundreds of thousands of clients. Thanks to this platform, they remodel their houses, mend cars, pay bills, cover medical expenses, and do many more activities that they could not do without extra cash. People choose CashUSA because it’s secure and fast, offering connections between borrowers and lenders who provide from $500 up to $10,000.
CashUSA is yet another TrustedSite-certified platform in our article. This is a very important certificate because a company has to meet multiple criteria to get the green light from TrustedSite.
While lending platforms have to share clients’ information within their networks, CashUSA is very strict about securing the portal in order to protect its clients. This is why it has gained the trust and respect of numerous customers.
The company has high-standard protocols and security systems that meet the industry requirements for protection. It uses bank-grade encryption and owns an SSL valid certificate that confirms the website’s safety.
CashUSA is very open and honest about the potential benefits clients can get if they use the platform. The company doesn’t make any promises or guarantees about the loans they might get. This is very important because many lending platforms claim that the customers will definitely get a loan, which is not true since they’re not lenders, and they don’t know whether a lender will work with the client.
CashUSA has excellent features and speedy and secure service, which is why people prefer it over the other marketplaces. However, the company collaborates with lenders who will most likely offer only one type of loan. People usually use this site to obtain personal loans.
Given that CashUSA is not included in the loan deal and it doesn’t give loans itself, the company doesn’t know what kind of offer you may receive. However, based on its experience, the company can give you some ideas of the potential offers.
Therefore, you may get a loan from $500 up to $10,000. Most of the lenders give loans with APRs from 5.99% to 35.99% and loan terms from 90 days to 72 months. Of course, this may vary from lender to lender. Thus, you may obtain more money or get a loan with a more extended repayment period than mentioned above. The offer you’ll get depends solely on the lender’s conditions.
Even though CashUSA has simple application requirements, some people consider them a bit higher than those requested by some other platforms. Some conditions are the same as we discussed in the other reviews. So, you have to be 18+ and a US citizen or permanent resident to apply.
Furthermore, to be able to apply, you have to be employed for at least 90 days and earn at least $1,000 per month after taxes. Of course, the minimum monthly income may differ from lender to lender.
In addition, you’ll have to submit evidence to prove whether the information you entered is true. You’ll also have to provide home and work phone numbers, a valid email address, and a valid checking account in your name.
You should remember that meeting these criteria doesn’t mean you’ll get a loan. Even if you’re compliant with the platform’s requirements, the lenders may not want to work with you.
- Trusted lending platform
- Fast and secure service
- Free and convenient
- Numerous lenders and lending companies
- Higher eligibility criteria
- The website lack information about the company
Why We Selected These Loan Companies For Bad Credit Loans?
We reviewed five reliable and super-efficient lending platforms that you can use to obtain bad credit loans with guaranteed approvals. We checked their features and discussed the working methods they use. But, if you’re interested in how we made this choice and why we selected only five out of millions out there, you can find out more about that in this section.
Here are the criteria we set, and we’re glad to announce that the platforms meet them all.
Security is the most crucial factor everyone should consider while choosing a lending platform. We understand that many people are concerned about the protection of their personal information. Thus, many people avoid looking for loans through these marketplaces even when they need money the most.
So, we set the security measures as our NO. 1 priority and looked for companies that take good care of their clients. As you saw in the reviews, each platform employs security systems and protocols that meet industry standards. Moreover, they use bank-grade encryption technologies, which are very important since you’re going to give both your personal and financial information.
These companies have the best lending platforms in the industry. But the speed of service and the lender networks are not the only features they have. These companies are trustworthy because they are transparent and honest.
You won’t find any false claims saying you’ll definitely get a loan. We think this is essential because many companies guarantee loans on their websites, and clients believe. Then, the customers will give any sensitive information requested by the company because they trust it.
There’s nothing wrong with trusting a company, especially when you have an emergency expense, and you need money as soon as possible. The problem is those platforms don’t know whether you’ll get a loan, and their only mission is to collect your data and share it with hundreds of other companies.
However, this is not the case with the platforms we reviewed. They speak honestly about their position and tell their clients that they may not take a loan. Actually, these platforms are only doing their job to connect borrowers and lenders.
In addition, these marketplaces never guarantee the loan terms you may get. They may use their experience to tell you what the repayment may look like or how much money you may get.
Bad credit loans
As you know, we looked for places where clients can get loans with bad credit. As you probably know, most lending platforms are not direct lenders. However, the loan types you may obtain through their platforms depend on their lender network, that is, what loan types the lenders offer.
While researching for this article, we considered this factor a significant one. We selected companies that collaborate with lenders willing to work with clients with bad credit.
Of course, a better credit score may bring you more favorable offers. Still, the lenders found through these platforms often offer loans to people with bad or poor credit.
Simple application conditions
In one of the reviews, we mentioned that the platform requests slightly higher criteria for loan applications than some other marketplaces. However, it’s very important to note that the criteria demanded by these companies are very simple and basic.
Unlike many other platforms that will ask very private questions on even unrelated matters, you won’t have the same experience if you choose some of the companies we reviewed. They have convenient and easy-to-do loan forms with basic questions.
We value transparency and honesty. That’s why we always choose to be objective in our reviews and honest with our readers. It’s important to share that we didn’t apply for a loan on these platforms while doing our research. So, we can’t be 100% sure that the platforms have fast approvals.
However, we read almost every review posted by clients who have tried these platforms and requested loans. According to most reviews, people got approved for a loan on the same day they applied and obtained the funds within 24 hours.
How to Find the Best Lending Platform For Online Loans For Bad Credit?
When in an emergency, we don’t have much time to research company by company to choose the best one. However, that’s the moment fraudulent lending platforms are waiting for. They know that you need cash as soon as possible, and you’ll most likely give any information they ask you.
If you want to avoid trouble, you’ll have to spend at least some time investigating the platform you’re about to use. If you don’t know what to look for, here are some tips that may help you find the best loan marketplace.
People’s experiences should be your first stop. Check customer reviews on reviewing platforms and blogs. You may even find some on social media. People’s experiences can be very helpful in finding out more about the company. Just remember that they’re personal views and may not be objective.
There are millions of lending platforms. However, not all of them collaborate with lenders for bad credit loans. Before sending your application, check whether they give these loan types. Otherwise, lenders may conduct a hard pull after sending the request, hurt your credit, and not even give you the loan you asked for.
You should find out about the approval period you’ll wait for once you apply for a loan. If you choose an efficient lending platform, you may be approved within a few minutes. To speed up the process, make sure to enter the correct information and try to apply on working days to get the loan as soon as possible.
Frequently Asked Questions On Bad Credit Loans
Q1. Can I get a payday loan with bad credit?
Yes, you can. Payday loans are one of the commonly used types with bad credit. They’re unsecured (no collateral) and don’t have loan terms with installments.
The lender will need proof of your monthly income and the next paycheck date because the payday loans are usually repaid once you get your paycheck. Therefore, even though your credit can impact the fees you’ll pay, most lenders will probably give you a loan even with bad credit.
Q2. Do bad credit loans get fast approvals?
There’s a difference between getting approval and fast approval. While your credit score may impact whether you’ll be approved for a loan, the speed of the approval usually doesn’t have anything to do with it.
Many lenders are willing to work with people with bad credit. Therefore, they’re familiar with the risk they’re taking. However, the speed of the approval depends on the company’s efficiency, that is, how fast the service of the lending platform is and the lenders themselves.
Q3. Do lending platforms charge their services?
Many of them do. Usually, the platforms that charge their services are direct lenders, and they have to charge the clients because they don’t collaborate with lenders who will pay a commission. These platforms don’t offer competitive and favorable offers. Therefore, we recommend using one of the platforms we reviewed.
Wrapping Up On Applying For The Best Online Loans With Bad Credit
After analyzing, calculating, and reviewing their features, we can conclude that MoneyMutual, BadCreditLoans, RadCred, and the other companies are the best and most efficient lending platforms on the market.
Whether you’re looking for bad credit loans with guaranteed approvals or other loan types, these platforms may help you get the money. Don’t let emergency expenses and poor credit make you anxious. With the help of these platforms, you may be able to find a solution to every financial situation.