You need cash, and you need it urgently. The only problem is that your credit score is in shambles, so it’s hard to qualify for most traditional forms of credit. Payday and title loans aren’t appealing because they’re too expensive and put your assets at risk.
So, what can you do if you need to cover an urgent car repair, a medical bill, or some other unexpected expense without borrowing from family or friends?
Well, there are several short-term loan options out there for people with bad credit. They may have higher interest rates than a traditional personal loan. But, it’s cheaper than payday or car title loans with triple-digit interest rates.

Short-Term Loans from Online Loan Marketplaces
It’s important to choose a reputable lender for your short-term loan. That way, you can avoid predatory practices from companies that 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 online lenders who bring clear terms in addition to an easy online experience. Consider one of these marketplaces for a short-term personal loan with bad credit:
MoneyMutual
MoneyMutual offers short-term cash advance loans that are similar to payday loans for up to $2,500. The lowest loan amount you can get is $250.
BadCreditLoans.com
BadCreditLoans.com 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.
PersonalLoans.com
PersonalLoans.com is another popular loan marketplace geared towards helping those with bad credit scores find the fast cash they need.
Short-Term Loans from Bad Credit Lenders
Here are some options for applying directly with a reputable lender instead of using loan marketplaces:
Avant
Avant is an established loan provider with a customer satisfaction rating of 95 percent. In addition, they have a straightforward loan application process.
Lending Point
If you have a credit score in the 600s and need fast cash, LendingPoint may be the lender for you. They offer short-term loans of up to $25,000 with interest rates from 17.46 to 35.99 percent. And the funds may be available to you by the next day.
NetCredit
You may be eligible for a short term loan from Net Credit of up to $10,000 if you reside in one of the following states:
How to Evaluate Your Short-Term Loan Options
Before applying for short-term loans for bad credit, 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 credit reporting practices. If the lender reports to the three major credit bureaus, you’ll kill two birds with one stone. You’ll cover your financial emergency and strengthen 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, it would be best if you read the fine print before signing on the dotted line.
Short-Term Loans for Bad Credit FAQ
What is a short-term loan?
A short-term loan is a loan that has a shorter repayment period than a traditional loan; usually within a couple weeks to a year. Short-term loans provide quick cash when you’re in need of cash flow.
Typically, when someone refers to a short-term loan, they are talking about short-term installment loans. However, there are several types of loans that could be considered short-term loans such as lines of credit, title loans, pawn shop loans, or payday loans.
What are the benefits of short-term loans?
Short-term loans offer an opportunity to cover unexpected costs without cutting into your budget. Typically, the application process is quicker, and the qualification process is relatively easy.
Some short-term personal loan lenders don’t perform a hard credit check to avoid damaging your credit history. Some also don’t charge an origination fee.
Can I get a short-term loan with bad credit?
It’s certainly possible to get a short-term personal loan with no credit history or bad credit scores. However, people with good credit scores typically get offers with lower interest rates and better loan terms.
Do banks give short term loans?
Yes. You can get short-term loans from banks, credit unions, online lenders and other types of lenders. However, it’s more difficult (but not impossible), to get a short-term loan with bad credit from banks and credit unions.
Bottom Line
Before resorting to high-interest payday loans, credit card cash advance, or title loans, consider applying for a short-term loan for bad credit. You’ll qualify for lower interest rates and enjoy flexible repayment options that span beyond the next payday.