You need cash and you need it now. The only problem is your credit is in shambles, which makes it tough to qualify for most traditional forms of credit. And you’re not necessarily to attracted to the idea of taking out a payday or title loan because they’re too costly or put your assets at risk.

So, how are you supposed to cover that urgent car repair, medical bill or some other unexpected bill without resorting to a loan from a relative or friend?

Well, there are several short-term loan options out there for people with bad credit. You may pay a steeper APR than what you’d qualify for with a traditional personal loan, but it beats the triple-digit rates that come with payday and car title loans.

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Bad Credit Loan Marketplaces

It’s important to choose a reputable lender for your short-term loan. That way, you can avoid predatory practices from companies who aren’t interested in your financial well-being.

Don’t know where to start with your search for a lender? We’ve compiled a list of lenders who bring clear terms in addition to an easy online experience. Consider one these marketplaces for a loan with bad credit:

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on's secure website gives you a higher chance of finding a short-term loan product that suits your needs by distributing your information to their network of lenders.

You should also know that their lenders cater to consumers with poor credit.

Loans range from $500 to $5,000. You will have between 3 and 36 months to repay the loan, so that alleviates the burden of having to come up with a large chunk of cash by next payday.

Even better, lenders in their network offer unsecured loan products. So unlike title loans, no collateral is required to qualify and your assets won’t be at risk.

Instead, they only require that you be at least 18 years of age, be a U.S. citizen or legal resident, have a steady source of income and an open checking account to receive the funds.

To get started, you’ll need to:

  • Enter your desired loan amount and email address. Next, you’ll be prompted to enter some personal information to confirm your identity and prove your income. Once your profile is created, your information will be shared with lenders in the network.
  • Review loan offers that are presented to you. If you’re not eligible for a personal loan product, you may receive recommendations for other debt products that may better suit your needs.
  • Work with the lender to finalize the loan and have the money deposited into your account in as little as one business day.

If you’re interested in learning more, check out our full review.

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on's secure website is another popular loan marketplace geared towards helping those with poor perfect credit find the fast cash they need.

The lenders in their network offer three types of loan products:

  • Peer To Peer Loans: ideal for consumers with a credit score of 600 or higher, and verifiable income of $2,000 per month. Self-employment income is also accepted, and loans range from $1,000 to $35,000.
  • Personal Installment Loans: available to those with a credit score of 580 or higher and a minimum monthly income of $2,000.(Those receiving benefits are also encouraged to apply). Loan amounts range from $1,000 to $35,000.
  • Bank Personal Loans: geared towards borrowers with a minimum credit score of at least 580 and verifiable monthly income of $3,000. Both employed and self-employed borrowers are eligible to apply, and loan amounts range from $1,000 to $35,000.

The APR on most loans is between 5.99% and 35.99%. This is substantially lower than what you’d pay in interest for a payday loan, and you’ll have anywhere between 6 and 72 months to pay the loan off.

To qualify for any of these loan products, you must be at least 18 years of age with a valid Social Security number. You can apply for consideration by submitting the loan request form found on the website. You’ll have to include the amount you are seeking, credit rating and the reason for seeking financial assistance.

You will also need to provide some personal information to verify your identity, banking information for the funds to be deposited, and income information to verify your ability to afford the monthly payment.

If you are successfully matched with a lender and offered a loan, you’ll be prompted to review the loan documents and accept the terms. Once the agreement has been executed, you can expect the money to be deposited into your account within one to five business days.

Before moving forward, read our in-depth review.

Bad Credit Lenders

If you’d prefer to skip the loan marketplaces and apply directly with a reputable lender, here are some viable options to consider:


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on Avant's secure website

Avant is an established loan provider with a customer satisfaction rating of 95 percent. They have a straight-forward loan application process and upon approval, will deposit funds into your account in as little as one business day.

Loan amounts range from $2,000 to $35,000 with repayment terms from 2 to 5 years. If you have bad credit, your interest rate will cap out at 35.99 percent, which is relatively low compared to other debt products that cater to those with bad credit.

But if your credit rating is higher, you could qualify for an interest rate as low as 9.95 percent. A small loan administrative fee between 1.50% and 4.75% also applies.

There is no minimum credit score requirement to qualify, but most borrowers have scores that range between 600 and 700.

Even better, they offer an online tool that allows you to see which loans products you may qualify for without impacting your credit. And if you’re able to get back on your feet sooner than expected and pay the loan off early, there are no prepayment penalties.

Read our full review of Avant


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on LendingPoint's secure website

If you have a credit score in the 600s and need fast cash, LendingPoint may be the lender for you. They offer loans of up to $25,000 with interest rates from 17.46 to 35.99 percent. And the funds may be available to you within the next business day.

Beyond the 600 or higher credit score, you must be 18 or older with a valid bank account and an annual income of at least $20,000 to qualify. You must also reside in one of the 32 states they serve.

You can check your eligibility without impacting your credit by using the online tool. To get started, you’ll need to provide your desired loan amount, the purpose of the loan, your annual income and a few additional personal details to confirm your identity.

Upon approval, you the loan verification process is completed online so you can receive the cash you need in a jiffy. You’ll have anywhere from 24 to 48 months to repay the loan, depending on the loan term you qualify for.

Read our full review of LendingPoint


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on NetCredit's secure website

You may be eligible for a personal loans from Net Credit of up to $10,000 if you reside in one of the following states:

Alabama, Arkansas, Arizona, California, Delaware, Florida, Georgia, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Montana, Nebraska, New Mexico, North Dakota, Ohio, Oregon, South Carolina, South Dakota, Texas, Utah, Virginia, Washington, Washington, DC, and Wisconsin.

Loan terms and interest rates vary by state, but you may be offered a rate as high as 155 percent with a five-year term. However, that beats taking out a payday loan and only having until the next payday to pay it back.

You can check your eligibility by completing the online form found on their website. If you qualify for a loan, NetCredit offers a tool to help you tailor your loan amount and repayment terms to accommodate your financial situation. Upon approval, funds will be deposited into your account in as little as one business day.

Beyond the easy application and funding process, another major perk of this loan is the My CreditBuilder tool they offer. In a nutshell, it reports payment history to both Experian and TransUnion. So, by making timely payments each month, you will improve your credit.

Read our full review of NetCredit

OneMain Financial

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on OneMain's secure website

OneMain Financial offers personal and car loans to consumers with bad credit. Loan amounts are between $1,500 and $25,000, and interest rates are between 17.59% and 35.99%. The also offer loan terms of 24, 36, 48 and 60 months.

There is no minimum credit score to qualify, but your finances, credit history, income and expenses, loan purpose and state of residence are evaluated during the application process.

Depending on your financial status, you may also be required to provide a source of collateral to secure the loan. You can see if you qualify by completing the online form.

If you’re approved, you’ll be prompted to visit a location and meet with a loan specialist to review your offer. Your identification, employment, and income documentation will also be verified at this time. And at the conclusion of the meeting, you will walk out with funds at your disposal.

Read our full review of OneMain

How to Evaluate Your Options

Before applying for a short-term bad credit loan, you should:

  • Confirm that the lender is licensed to do business in your state. It also doesn’t hurt to look around and see what others are saying about them. (This could include independent consumer reviews and those from the Better Business Bureau).
  • Inquire about the lender’s reporting practices. If the lender reports to the credit bureaus, you’ll kill two birds with one stone by covering your financial emergency and strengthening your payment history with responsible loan-management.
  • Compare the loan terms and fees across the board. Don’t settle for the first offer you receive. You may be able to qualify for a more competitive loan offer elsewhere.
  • Be mindful of penalties and fees. These could make the loan more costly and result in unaffordable monthly payments.

Finally, you should read the fine print before signing on the dotted line.

Bottom Line

Before resorting to a high-interest payday or title loan, consider applying for a short-term payday loan for bad credit. You’ll qualify for lower interest rates and enjoy flexible repayment options that span beyond the next payday.