Best Bad Credit Loans Guaranteed Approval: Top Payday Lenders To Get Quick Cash Advance

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People with bad credit often find it difficult to access loans, especially from traditional money lending institutions such as banks or credit unions. It is often a very discouraging situation, especially if you are in dire need of money.

Thankfully, we now have some money-lending businesses that offer financial aid to such people. Therefore, if you have bad credit, it is good news to know that you can now easily access fast bad credit loans within 1-2 business days.

However, these often come at a cost. For example, bad credit loans often have very high-interest rates. Similarly, you can’t qualify for a reasonable loan limit if you have bad credit, which can be hindering, but better than nothing, we presume. Right?

This review article will examine some of the most credible and highly reputable online money lending platforms for bad credit. So, without further ado, let us dive right into it.

Top 5 picks of the Best Bad Credit Loans Guaranteed Approval

  • MoneyMutual – Overall Best Marketplace For Bad Credit Loans, Editor’s Pick
  • BadCreditLoans –  Direct Lenders Offering Online Loans For Bad Credit
  • RadCred – Trusted Payday Lenders For Easy Loans Online Approval
  • CashUSA – Get Instant Cash Advance At Best Mortgage Rates
  • PersonalLoans – Reliable Personal Loans Platform With Emergency Cash

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

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MoneyMutual is our top pick of lenders offering bad credit loans to borrowers with bad credit. MoneyMutual has an excellent reputation for being one of the most trusted online money lending platforms available on the market.

Although they are not a direct lender, they have a network of over 60 lenders registered on their platform offering short-term bad credit loans to borrowers.

The best part about MoneyMutual is that they offer their services for free to borrowers. However, this platform’s lenders must pay a small fee to access the services.

Highlights

Seamless Application Process

MoneyMutual has a user-friendly website that makes it suitable for use even for newbies.

Applying for a loan on this site is as easy as filling out an online application form. Upon submission, the company will present the application to their lenders, and interested lenders will contact you with a loan offer.

Since they have a vast network of lenders, borrowers often stand a better chance of qualifying for a loan with any one of these lenders.

Fast Funding

If your loan gets approved, you will often get the funds deposited into your account within 1-2 business days.

The platform is convenient for anyone looking for fast funding to help cover an emergency expense.

Also, lenders are not strict about using the cash once it gets to your account. Their only requirement is that you make your loan payments on time to avoid it hurting your credit score.

Eligibility Requirements

Since it is clear that people applying for these loans have bad credit scores, MoneyMutual lenders do not have strict eligibility requirements. Sometimes, they are not even concerned about your credit score.

The basic eligibility requirements for this platform include:

  • Be at least 18 years or older
  • Be a permanent and legal resident of the U.S
  • Have a valid checking account
  • Show proof of income

Loan Limit

How much a borrower is offered usually depends on several factors. However, the loan limit at MoneyMutual often ranges from $500 to $5,000, which is a reasonably good limit for a bad credit loan.

Pros

  • Highly reputable online money lending company
  • Professional and efficient customer care services
  • Free-to-use online resource
  • They have a vast network of lenders registered on their platform
  • Offer a loan limit of up to $5,000

Cons

  • They are not a direct lender
  • They are not responsible for inconveniences once a borrower signs up on an offer with a lender.

⇒ Visit the Official Website of MoneyMutual

#2. BadCreditLoans – Direct Lenders Offering Online Loans For Bad Credit

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BadCreditLoans is yet another suitable lender for bad credit loans. Their primary role is linking potential borrowers with potential lenders looking for bad credit. They have an extensive network of lenders, increasing the chances of borrowers qualifying for a bad credit loan on their site.

One great advantage of this lender is that they have been in business for a very long time – over two decades. From customer reviews, it is evident that they offer some of the best services. Additionally, customers also rank them the best with their terms and conditions.

Highlights

Fast And Easy Application Process

Applying for a bad credit loan with these lenders is often a quick process that takes about 5-10 minutes.

Once your application is submitted to their network of lenders, you will immediately get offers from interested lenders. Carefully analyze each option to determine the best offer for your needs.

Quick Funding

If you tick all the right boxes with lenders, you can quickly get approved for a loan. For most of their lenders, funding only takes about 1-2 business days which is very convenient.

Loan Limit And Restrictions

The loan limit offered by lenders at BadCreditLoans often ranges from $500 to $ 10,000, a relatively competitive rate for people with bad credit.

Additionally, with BadCreditLoans, lenders do not restrict how borrowers can use the money once it is deposited into their account.

Financial Education

On top of offering bad credit loans, this site also actively participates in educating the public on sound financial practices such as budgeting, saving, debt management, etc.

All this information is readily available on their website in the learning section, which clients can access from their homepage.

Pros

  • They have a fast and easy loan application and approval process
  • Best suited for people with bad credit who would otherwise not get financial help from any other sources
  • Have a resourceful educational section on their website
  • The website is highly encrypted to protect clients’ data from third-party access
  • Excellent and professional customer service personnel
  • Offer competitive interest and APR rates
  • Offer a loan limit of up to $10,000

Cons

  • They are not a direct lender
  • Bad credit loans often attract a high interest and APR rate

⇒ Visit the Official Website of BadCreditLoans

#3. RadCred – Trusted Payday Lenders For Easy Loans Online Approval

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RadCred is one of the most established online money lending companies available. They have successfully built an online reputation for themselves over the time they have been in business, and clients have nothing but good remarks to make about this website.

Like other previously mentioned sites, RadCred is not a direct lender. Instead, they collaborate with a team of reputable lenders willing to offer bad credit loans to people with bad credit. In addition, they have over 90 lenders registered on their platform, so borrowers stand a good chance of getting a loan approved.

Highlights

Easy loan application process: Applying for a loan via this site requires the client to sign up on their website and complete an easy 3-step loan application process which includes:

Loan Application

Evaluate all available loan offers and choose one best suited for your needs.

The loan approval process takes about 1-2 business days for funds to be deposited into your account.

Safe And Secure Website

Clients applying for online loans are often concerned about their safety since they must provide a lot of personal and financial information. To help put their worries at ease, RadCred has ensured to encrypt their website with the latest security technology to protect clients’ data.

They also offer their clients the option of having their data deleted from their servers upon request.

User-Friendly Website Interface

RadCred’s interface is easy to use, even for newbies. It has helped to ensure the loan application process is fast and easy. Also, accessing other website sections directly from their homepage is pretty straightforward.

Pros

  • The company has an excellent reputation
  • Highly encrypted website to protect client’s data
  • Fast and easy loan application and approval process
  • An extensive network of lenders registered on their website
  • Free-to-use online resource
  • They offer competitive loan rates
  • Offer a loan limit of up to $5,000
  • The best option for people with bad credit

Cons

  • They are not a direct lender
  • They sometimes do conduct a soft credit check on lenders

⇒ Visit the Official Website of RadCred

#4. CashUSA – Get Instant Cash Advance At Best Mortgage Rates

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CashUSA is the right option for you if you are looking for convenience. Lenders are well-known for offering fast and convenient money lending options to people with bad credit. CashUSA is also not a direct lender. Instead, they work in collaboration with a team of lenders registered on their platform to offer quick bad credit funding.

From their website, you can access various loan options, such as installment loans, personal loans, payday loans, etc., to help you manage your finances during rainy days. Their website is simple and user-friendly. Applying for a loan requires you to simply fill out a short online application form and wait to receive offers from interested lenders.

Highlights

Fast Funding

If your loan is approved, you will often receive funding within 1-2 business days. Applying for the loan on weekends or public holidays might take longer.

Funds approved are usually deposited directly into your bank account hence why it must be an active account.

Eligibility Requirements

Qualifying for a loan with CashUSA requires you to meet specific simple eligibility criteria, which include:

  • Must be at least 18 years or older
  • Be a permanent and legal resident of the U.S
  • Have a valid checking account
  • Show proof of income

Other requirements often differ from one lender to another; hence you should be ready to provide any required information upon request.

Loan Limit

CashUSA lenders offer competitive loan limits of up to $10,000. The specific amount you will be offered depends on the individual lender based on their assessment of the information you provide during the loan application process.

Repayment Procedure

CashUSA lenders offer a flexible repayment plan to help you quickly repay your loan. Before signing up for any loan offer, you can opt to negotiate reasonable loan terms and conditions with the lender.

Pros

  • The company has an excellent reputation with their clients
  • They offer a convenient, fast, and easy loan application and approval process.
  • They have flexible terms and conditions.
  • Lenders offer competitive rates for bad credit loans
  • No restrictions on how one can use the funds once they are deposited into their account
  • No additional or ‘hidden’ charges
  • Highly encrypted website interface

Cons

  • They are not a direct lender
  • They have high-interest rates for bad credit loans
  • Hefty penalties for late repayment

⇒ Visit the Official Website of CashUSA

#5. PersonalLoans – Reliable Personal Loans Platform With Emergency Cash

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Last at #5 is PersonalLoans.com. A fast, secure, and convenient online money lending platform best at offering bad credit loans. PersonalLoans.com is not a direct lender; its primary purpose is to link potential lenders with potential borrowers offering bad credit loans.

The main advantage of this site is that they have been in business for a relatively long time and have built a good rapport with millions of clients who have used its services. In addition, applying for a loan on this site is as easy as filling out a simple online application form with your personal and financial details.

Highlights

Loan Limit And Restrictions

Lenders at PersonalLoans.com offer a flexible loan limit ranging from as low as $1,000 to $35,000. How much an individual borrower is offered often depends on several factors, such as loan type, credit score, repayment period, etc.

In addition, we love that lenders on PersonalLoans.com do not restrict how borrowers can use the funds once they are deposited into their account.

Interest And APR Rates

Interest and APR rates often differ from one lender to another depending on several factors. However, with bad credit, you can be sure that interest rates will often be high as these are considered high-risk loans.

To help protect yourself from fluctuating economic rates, we advise you to select a fixed-interest rate loan. The rates for this remain constant regardless of the market fluctuations.

Repayment Period

Bad credit loans have a short repayment period ranging from 3 to 72 months. When taking a bad credit loan from this site, you can negotiate with your lender to get a payment plan best suited for your needs.

Transparent And Trustworthy

PersonalLoans is an accredited online Lenders’ Alliance (OLA) member. As members of OLA, it is required for them to offer the best online money lending practices which protect clients from theft and extortion.

Additionally, they practice transparency in requiring their leaders to be open to their clients by providing them with complete and accurate information to help them make informed decisions.

Pros

  • PersonalLoan.com is a highly-reputable online money lending platform
  • They have a safe and secure website to protect clients’ data from unauthorized access
  • Offer a higher loan limit of up to $35,000
  • Offer competitive interest and APR rates
  • Lenders have flexible lending and repayment options
  • Fast loan approval and funding process

Cons

  • High APR and interest rates for bad credit loans
  • PersonalLoans.com is not a direct lender
  • Sometimes lenders conduct soft and hard credit checks on borrowers’ credit history.

⇒ Visit the Official Website of Personal Loans

How We Made This List For Bad Credit Personal Loans Guaranteed Approval $5,000?

Due to the rising popularity of bad credit loan lenders, there has been an upsurge of lenders on the market. Unfortunately, some are legit, while others are only out here to make a living by scamming unsuspecting clients.

As such, coming up with a list of the best bad credit loan lenders is no longer as easy as doing a quick online search. Instead, one needs to evaluate these lenders for several factors that will help determine whether they are legit.

In this section, we will look into some factors we considered when curating our list of the best bad credit loan lenders available today. We evaluated each of the lenders we found online with a set of criteria. Ultimately, we were left with our top 5 picks of the best lenders.

The factors we put into consideration include:

Brand Reputation

Anything to do with money is often considered a very delicate and essential topic. Therefore, when looking into our options, we looked for companies with great values and the best customer service policies.

Some of the factors we looked into when determining a company’s reputation include; how long they have been in business, customer reviews, and ratings on credible review sites.

You can’t get scammed with such companies that have a good rapport.

When curating our list, we eliminated brands with a questionable reputation and evidence of bad reviews online and were left with a select few to choose from.

Interest Rates And APR Rates

Bad credit loans are notoriously known for attracting high interest and APR rates. Therefore, looking into various options before making your final decision is essential. In addition, it helps you to estimate how much you can expect to pay as interest for your loan – this is important as it always impacts how much you will pay for your loan in the end.

When selecting, we looked for lenders who offer competitive rates compared to their competitors.

Terms And Conditions

These often vary from one lender to another; hence you need to make sure you read and understand what will be required of you upon agreeing to a loan offer. Terms and conditions often include additional fees and charges, interest rates, penalties applicable, etc.

These always have a direct implication on your loan; hence you need to be aware to avoid the unpleasant situation in the long run.

When considering the lenders for our list, we considered those transparent with their terms and conditions. Similarly, we preferred lenders who offered flexibility to their clients.

Funding Process

People seeking bad credit loans are often those in dire need of money. Therefore, finding a lender who offers fast and convenient access to money is often a considerable advantage to such borrowers.

When curating our list, we considered how long each lender takes to make the funds available to their clients. Our preference was with lenders who offered a quick funding process of about 1-2 business days.

Any lender that takes longer than this period was eliminated from our list since it would be very inconvenient to our clients.

Buying Guide: Factors You Need To Know When Selecting a Bad Credit Loan with Guaranteed Approval

With the upsurge of bad credit loan providers, choosing one lender can be difficult, especially if you are new to this. However, you must be vigilant when making your section since the market is flooded with unethical businesses. You might lose money and have more financial debt if you are not careful.

To help you make the best decision, we came up with a list of some of the factors you need to look for when applying for a bad credit loan.

They include:

Go For Companies With Good Reputation

Building a company’s reputation often takes a lot of effort and time. Therefore, a company with a good reputation is one significant indication of a legit company. To establish a company’s reputation, you can look into customer reviews. These reviews often provide raw and unfiltered personal opinions, which can be very insightful.

Second, consider how well the company is known; ask around and research how the company rates on credible review sites. Loan Companies with good ratings are often considered more trustworthy than those with poor or no ratings.

Transparency

We have heard of several cases of online lenders having ‘hidden’ charges for their loans which often results in problems for borrowers. Therefore, when making your decision, go for lenders who are transparent about their terms and conditions to help you make an informed decision.

Also, take it as a personal responsibility to read and understand the terms and conditions offered by various lenders; sometimes, these terms and conditions are not hidden; it is only that some clients do not take the time to understand the loan implications.

When making your decision, ask as many questions as you would like. Also, do not feel obliged to accept any loan offer if it is unsuitable for your needs.

Loan Amount

Before taking out a bad credit loan, you must determine how much you need to cater to your financial needs. Sometimes lenders might offer more than you need or less than you might need.

Of course, the decision is always yours to accept or reject the offer. However, we advise borrowers to only take what they need, especially with bad credit loans, since they often attract high-interest rates.

Taking only what you need will minimize the possibility of misusing the money, making it harder for you to repay the loan.

Loan Repayment

Choosing a loan repayment plan best suited to your needs is essential. Most lenders are often very flexible with loan repayment plans. Therefore, do not hesitate to negotiate a suitable plan with a lender before agreeing to a loan offer.

However, remember that the longer your repayment period, the higher the interest accrued on your loan. Therefore, plan to make the repayment within the shortest time possible.

Customer Reviews

Customer reviews are the best credible source of information about a brand. They are often raw and unfiltered personal opinions and experiences about a brand. Therefore, borrowers can trust them to help them make an informed decision.

When searching for the best bad credit loan lenders, looking into online and credible reviews on a company’s website is essential. Information to look into includes; customer service, efficiency, interest rates, loan limit, after-sale services, etc.

Such information is very beneficial to help you determine if a company is worth your time or not. Also, the information will help you know what to expect when working with your preferred lender.

However, you must remember that people’s experiences often differ; therefore, keep an open mind when deciding.

FAQ’s: Bad Credit Loans Guaranteed Approval

Q1 – What Is A Bad Credit Loan?

A. A bad credit loan is offered to people with bad credit scores. These people would have otherwise not received financial help from other sources, especially not traditional money lending institutions such as the bank.

One major characteristic of bad credit loans is that they often have a low loan limit, unlike any other type of loan, and they attract a high-interest rate.

Q2 – What Are The Eligibility Requirements For Applying For A Bad Credit Loan?

A. Loan application requirements often differ from one lender to another. Therefore, looking into several lenders to find one with favorable requirements that help you stand a better chance of qualifying for a loan is essential.

Some of the basic requirements to help you pre-qualify for a bad credit loan include:

  • Must be at least 18 years or older
  • Be a permanent and legal resident of the U.S.
  • Have a valid checking account
  • Show proof of income

The individual lender will determine more requirements, and the borrower should be ready to provide information when needed.

Q3 – Why Are Bad Credit Loans Better?

A. For starters, loans for bad credit do not have stringent eligibility requirements compared to other types of loans. Therefore, anyone with bad credit has a chance of qualifying for a loan offer from these lenders.

Second, bad credit loans are often fast and convenient. Therefore, if you are faced with an emergency that needs you to have quick access to cash, they are often the most convenient source of funds.

Additionally, bad credit loan lenders do not have stringent rules on how borrowers can use funds once deposited into their bank account. As a result, you can use the funds for any purpose other than what you indicated in your loan application.

In Conclusion: Online Loans For Bad Credit With Guaranteed Approval

When it comes to online lending, it is a brainer that bad credit loans are a huge game-changer, but only when dealing with legit businesses. Thanks to such payday lenders, people with bad credit now have a bit of hope when acquiring an emergency loan. In as little as 24 hours, one could have a solution to their financial woes.

This brings us to the end of our review on bad credit loans with guaranteed approval. We trust you have learned a thing or two to help you make an informed decision in the future.

If you are looking to take out a bad credit loan, we recommend you try out any of the online lenders we have on this review since you can be guaranteed they are safe and secure. However, if you would like to venture into more options, we encourage you.

But keep in mind all the safety precautions we have highlighted in this review to help you have a pleasant experience.

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