Bad Credit Loans With Guaranteed Approval In 2021


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Almost all financial situations have their ups and downs. At some point, you may have struggled to manage your funds and this may have affected your credit report or score. Have you ever needed a loan but your low credit report was a hindrance? Traditional banks may disapprove a loan application because of an individual’s bad credit history. However, there are alternative lenders – bad credit loans companies. These platforms have options for borrowers including those with bad credit histories.

In this article, we have compiled three sites that will provide loans for bad credit. Additionally, we have analyzed important data that concerns them. These are online lenders that will offer you a loan despite your bad credit loans with guaranteed approval. In case you are wondering how these companies work without the consideration of one’s credit score, they work by analyzing other factors other than the borrower’s credit score. These may include; the management of your expenses, your expenditure from your total income, your average income and so much more.

Why Consider Bad Credit Loans?

  • They do not determine a borrower’s ability to pay based on their credit history. Their main interest is whether one has a steady job or a sufficient source of income for repayment.
  • These companies are also capable of helping you improve your credit as they send your transaction records to national credit bureaus. They steer you into responsible debt management and appropriate budgeting.
  • Despite having bad credit, you can still have access to borrowing large amounts of money. The only important thing is that you must be able to pay it off.
  • Bad Credit Loans are flexible and offer variety as the lender can offer a loan that is tailored to your needs.
  • They avail the borrowed funds very fast with some even transferring the borrowed amount within a day.

These are some of the top bad credit loans companies;

Top 3 Bad Credit Loan Companies

  • MoneyMutual – Best Personal Loan Provider for Bad Credit
  • BadCreditLoans – Best Emergency Loans For Bad Credit Borrowers
  • CashUSA – The Easiest Loans To Get


MoneyMutual is an online marketplace for lenders and borrowers. The company was founded in 2010 and its main goal is to connect short-term borrowers with lenders to provide funds easily and almost immediately. They put into consideration that individually approaching lenders and meeting the requirements for guaranteed loan approval may deem quite difficult and that the process also has heavy interests.


  • There are no original charges for this service.
  • The loan application and approval process are very simple.
  • Their website is easy to navigate.
  • You can receive your funds within 24 hours.
  • There are more than 60 available lenders
  • This online site is secure, and the security of your personal information is guaranteed.


  • Loan applications are only eligible for United States residents.
  • The moment you sign the personal loan agreement, they are not liable to any problems that may arise.
  • If you lack a proven and regular source of income, you do not qualify to apply.

How MoneyMutual works and its Features

At the start of your application, all you will be required to do is visit the official website and go-ahead to fill the provided simple form. This is what allows you to proceed. The next thing you have to do is provide details about yourself; your residency, age, and if you receive a monthly income of $800. Upon filling these details, the company now starts working on your loan request. You can keep track of the application process on the website as well.

For the next steps, you are connected to a lender who is able and willing to offer you the loan. From there, you are redirected to the lender’s site for you to peruse the terms and conditions that govern the loan. You will also be interrogated but, the company does not involve itself in this process.

If you agree and are comfortable with these regulations such as the lender’s fees and interest rates, then you can now complete the deal. You may be directly contacted to proceed. Now you are all set and can wait for your money. The money is directly deposited into your account. Usually, this will not take more than 24 hours.

It is important to note that MoneyMutual is simply a bridge between the applicant and the lender. They do not determine any of the terms and conditions set by the lender.

Reviews and Customer Experience

This service has been used by millions of online customers and most of them have left outstanding reviews. Without a doubt, this service is a great experience. Most of the MoneyMutual users seem to be pleased with the lending experience. They have talked of this service to be free of hassles and that there are no charges for you to be connected with the lender.

There has been a tremendous appreciation about the very fast funds transfer into the bank accounts. This has ultimately led users to resolve their situations in short times. MoneyMutual is trustworthy. This company has regular buyers and referrals have also helped other people to reach out. It is a credible and reputable firm.


BadCreditLoans is another top company for connecting bad credit loan borrowers with lenders. It offers loans for bad credit online. Whether you need instant funds for debt relief or consolidation, credit card refinancing, rent and mortgages, taxes, medical bills, special occasions, vacations and many more, they will come through.

The company provides fact-based information and data to help you make a responsible decision. BadCreditLoans does not commit to lenders if you do not feel satisfied.


  • The loan application process is easy. You only need to fill a form.
  • There is an elimination of the stress and hassle that comes with individually contacting lenders.
  • There are many lenders to choose from.
  • The lender information provided is factual and hence, it can be relied on.
  • If you are not satisfied, you do not have to commit.


  • BadCreditLoans is not BBB accredited.

How BadCreditLoans work and its Features

With this service, you can apply for funds ranging from $500 to $10,000. You are also offered a very flexible repayment option since you can repay in up to 3 years. You should be aware that the interest rates vary depending on a particular lender’s terms and conditions. They may range between 5.99%-35.99% APR. To apply and get a loan, you must be 18 years or above. Your source of income must also be proper and you must prove that you are a citizen.

Start by filling the form with; the amount you wish to borrow, reason for borrowing, citizenship proof like a social security number, name and date of birth, your bank details and much more. The company now links you to a legitimate and capable lender for you to be assisted. The lender will go through your loan request and provide you with an agreement as determined by your requirements.

If you are appealed by the offer, you can go ahead and accept it. However, you are not under any pressure to do anything as you can switch and start over with a different lender. Ensure that you carefully go through the terms and conditions.

In case you settle on an agreement, you will need to electronically sign the contract for the funds to be transferred into your provided bank account. You may get the funds on the following business day. A delay may be experienced depending on the deposit method chosen by the lender.

Reviews and Customer Experience

This is a credible service for loans bad credit borrowers from reliable and trustworthy lenders. Since you can proceed with your application irrespective of your credit score, it is an avenue for those that couldn’t previously get a loan. They however need to be more detailed regarding personal data and information compared to their competitors.


Unlike other companies that do not offer borrowers with bad credit guaranteed loan approval, CashUSA does. Through CashUSA, you can request up to $10,000 from a suitable lender. The amount of money you can borrow will however depend on your credit score’s condition. The company’s interest rate is between 5.99%-35.99%.

CashUSA is also very unique compared to other platforms since they have an accessible education center on their website. This feature avails all the vital information for finance-related issues and aspects; credit score, debt calculation, a payback plan for students’ loans, how to accordingly set your budgets and priorities, how to choose a financial advisor, and so much more.

This platform provides borrowers with useful information and legitimate lenders.


  • The service is very fast and free.
  • They have received excellent customer feedback.
  • CashUSA offers many lender options.
  • You can pay your installments for even up to 70 months.
  • The service is free of cost.
  • Their education center offers applicants very helpful information.
  • The system is secure and very safe.


  • CashUSA requests a lot of personal information.

How Cashusa Works And Its Features

There is a lot of similarity in how CashUSA functions with the other services in this list. To begin use, you have to fill out a brief form that asks for basic information like your name, email address, the amount you wish to borrow, and whether you are a current member of the military.

You will then be asked to give other information that is now very detailed; a valid phone number, home address, if you are a homeowner or you live in a rental, monthly income, and a few details of your boss, ID, your bank account type, and your social security number.

The last step entails the provision of your bank details and several other things.

The remaining process is performed by CashUSA. The moment you click “Submit,” your request is sent to the available lenders. Any interested lenders will then send you a loan offer. After receiving the offer and confirming that it is suitable, you can go ahead and give your e-consent for the funds to be transferred into your account within a day. You can however refuse to take the offer if you do not feel satisfied.

Reviews and Customer Experience

Most people have reported being happy with the choice of CashUSA for loans. It has been helpful particularly for small loan amounts. CashUSA has also been acclaimed for its fast and hassle-free funds transfer.

Factors To Consider Before Choosing A Bad Credit Loan

Several factors will be involved in getting bad credit personal loans. If you are looking to borrow with a bad credit lender, consider the following factors;

Find out if you are eligible

Even these bad credit lenders will ask for a minimum credit score. This criterion is mostly set and determined by an analytic company- Fair Isaac Corporation (FICO) and it will begin at least from 620.

You should also keep in mind your debt-income ratio (the amount owed to pay and your monthly income). Most lenders will prefer borrowers with solid and definite income for the repayments to be made promptly.

Some will choose to set a borrower’s limit of annual income. Some lenders may also forgo this factor but consider other factors such as your job, income, and your ability to pay. To offer guaranteed loans, some lenders will go beyond a borrower’s credit history to consider the background of your credit score.

If you cannot meet the conditions of being approved for a personal loan based on your credit history, you can choose to find lenders that can allow you to introduce a different signatory. This will allow you to benefit from the best credit and income of your co-signer. You will now be able to effectively negotiate with the lender. With this, personal loans can be offered to those with bad credit at a comparatively lowered interest.

If you do not pay, the listed co-signer is liable for repayment on your behalf. This is the co-signer’s guarantee to the lender. This must be done carefully as there may be a risk factor; if you do not pay, your relationship with the co-signer can be tampered with. Consider the pros and cons of this kind of partnership.

The Interest Rates Given

This is quite an obvious factor to consider before you can apply for a loan with bad credit. You will want to apply for a loan that has an affordable interest rate. Comparing minimum interest rates offered by different services is a top priority. This will however depend on how credible your credit score is. The better the score, the lower the rate and vice versa.

You should be aware of credit lenders that offer fixed rates as opposed to fluctuating ones. For such cases, the fixed rates are consistent through the duration. Variable interest rates can fluctuate because they are determined by the movement of the index rate.

The Terms and Conditions for Application

Once your loan request is sanctioned, you are provided with an accessible loan agreement. The agreement will detail all the information pertaining to the terms and conditions, the loan amount, and the Annual Percentage Rate (APR). You need to carefully go through and analyze these terms before you can settle on accepting them. Make sure that they are favorable and that you can work with them. It is important to ensure that you can make the payments as per your financial ability.

Other Incurred Charges

With some lenders, loans for poor credit may be accompanied by other charges. Some of the applicable ones are; payment in advance, commencement charges, fees charged for delayed payments, processing fees, and many more. Some lenders may not charge such additional fees. The ideal chargeable fee range is usually between 1%-6% of the total loan amount.

Other lenders will adjust and vary the origination fee to your loan and this variability is not similar for all states. With some lenders, fees on late payments are immediately charged while for others, you may be allowed a time of 10-15 days before these charges are applied. Most of the late fees range between $15-$30. Some lenders will not even charge late payments.

A valid backup plan

Even though most lenders will require a borrower to have a stable source of income, anything can happen and you may lose the job. When you start borrowing, you need to check that you have some backup plan for repayment just in case your planned mode of repayment fails. Check if your savings account has got some money or if you have some assets that can be liquidated. Such options can save you from a repayment crisis.

A Step-By-Step Guide On How To Apply For A Bad Credit Loan

1. Check your history and credit score before the application

To start, get your credit report, do a review, and see what needs to be improved. Detecting and addressing any drawbacks will better your credit score. A credit report can be provided by any prominent bureau. Most lenders will determine your credibility and ability to pay based on your credit score and report. It is recommended that you review your credit history three months prior to application. This allows you to clear any disputes early enough.

2. Pre-plan your loan amount

You must figure out how much money you intend to borrow. This will allow you to devise a plan for prompt payments. Consider factors such as your savings, expenditure, and debts. These should be added to your total loan payment amount. Once you have made a realistic calculation, determine the final loan amount and the repayment period. Monthly installments are lower compared to long-term payments.

3. Analyze the interest rates

Look for the most suitable rates. Lenders who provide pre-approvals are a better choice as they do not carry out in-depth investigations for the proposals of their interest rates and terms and conditions. Select the lender with the most appealing quote so as not to undergo difficult credit inquiries.

4. Looking out for scammers

It may be difficult to recognize bad credit loan scammers but you can detect some of their red flags. Frauds will not bother asking you for important details such as payment history but will be concerned with advance payments. Mostly, once you establish a connection, they will constantly contact you and demand payments from your prepaid card. Other scammers will not have the required state operation license for loans. You need to be extra careful.

5. Repay the loan on time

It is your duty as a borrower to repay your loan on time as agreed with the lender. On-time payments will keep you from penalties, charges on late payments, and a negative credit report impact. Defaulting may lead you to suffer big losses. Ultimately, you will be required to pay excessive interest and this will escalate your loan amount.

Possible Alternatives to Bad Credit Loans

If you need money and you do not have a bad credit loan option, consider the following;

Improvisation – If you only need a small amount, you can consider money access from other sources available to you. For example, you can liquidate some assets and acquire the money.

Seek for your employer’s help – You may ask for a salary advance from your employer.

Borrow from friends and family – Even as you borrow from your loved ones, you need to stay consistent with the agreement and not take anything for granted. Assume that you have borrowed from a typical lender to avoid negatively impacting your relationship.

Frequently Asked Questions

How do I know if I have a good, bad, or poor credit score?

You can legally obtain a free-of-charge copy of your credit score from countrywide bureaus. Visit You can also obtain one from FICO, which is an acknowledged bureau with ranges between 300-850.

Any score below 670 is taken as bad, 580-669 is good enough, and a poor one is considered to be between 300-570. Any score from 669-850 is considered excellent.

How can I get rid of Poor Credit Scores?

  • Monitor your generated free credit score report.
  • Punctually pay your bills.
  • Ensure to pay all owed installments.
  • Do not get yourself into situations that can lead you into hard investigations.
  • Build your credit with professional advisors.

What can result from a bad credit score?

A bad credit score will cause lenders to quickly refuse you to apply for a loan and ultimately, you will not benefit in your time of need. With a poor credit score, you will be denied other financial aids such as car loans, student loans, credit cards, personal loans, mortgages and many more. With financial hardships, you will have limited options.

How can I urgently be approved for a loan with a Bad Credit Score?

If you have a financial constraint, you can try borrowing from bad credit online lending networks and systems. These platforms will get you loans in a short time and will work to get you money almost instantly. The process is simple and you do not need an outstanding credit score.

Can I get a loan without reviewing my credit score?

If you do not want your credit history reviewed during a loan application, then there is a price to pay. You may need to pay a high-interest rate and some other fees for compensation to secure your lender’s interest.

These are some other ways;

  • Using pawn shops for personal loans. These will require you to mortgage a possessed item. Once you fail to pay, they will confiscate the mortgaged item.
  • You can also opt for an auto title loan by providing the lender with your vehicle’s title. If you do not pay, you lose your vehicle’s ownership.
  • You may acquire a payday loan facility by providing details of your adequate income for loan repayment. Failure to pay leads to huge penalties.


Life is full of uncertainties and unfortunate occurrences that may cause you to damage your financial budget and your credit score as well. Thankfully, there are trustworthy platforms that can help with such situations like the ones detailed in this article. They will offer individuals personal loans for bad credit. They all almost operate similarly but they all request different information and details. We have also detailed their pros and cons to make it easy to settle on the company that well suits you.

Before you can apply for a bad credit loan, there are some considerations that you have to look into for you to avoid difficult situations. Even though some legitimate companies help those with bad credit, there are still frauds that seek to take advantage of people’s problems by charging high interests. It is essential that you choose a company that employs reasonable interest rates and fair fees. Consideration of these important aspects accompanied by the above-detailed steps will help you get approved for bad credit loans without much hassle.