10 Best Bad Credit Personal Loans With Fast Approval
Best Overall for Low Credit Scores: Upstart
Best for Quick Funding & Easy Qualification: Avant
Best for Borrowers With Very Poor Credit (No Hard Check): OppLoans
Best for Flexible Loan Amounts & Terms: Upgrade
Best Secured or In-Person Option: OneMain Financial
Best for Peer-to-Peer Lending: Prosper
Best for Adding a Co-Borrower: Achieve
Best for Low Credit Scores & No Origination Fee: LendingPoint
Best Credit Union Option: First Tech Federal Credit Union
Best for Small Loans With No Bank Account Needed: Oportun
1. Upstart – Best Overall for Low Credit Scores
Upstart uses artificial intelligence to look beyond your FICO score. Its model considers your education, employment history, and income, not just your credit.
APR Range: 6.20% – 35.99%
Loan Amounts: $1,000 – $50,000
Why we chose it: It approved 43% more applicants compared to a hypothetical traditional model, making it highly accessible for those with thin or damaged credit.
💡 Tip: Upstart may charge an origination fee of up to 12%, and your repayment terms are limited to 3 or 5 years. Always check the total loan cost before signing.
2. Avant – Best for Fair-to-Bad Credit and Fast Funding
Avant is a direct lender designed for the fair-to-bad credit market. It offers a soft credit check to prequalify, so you can see your potential rate without hurting your score.
APR Range: 9.95% – 35.99%
Loan Amounts: $2,000 – $35,000
Funding Speed: Next business day if approved before 4:30 p.m..
Why we chose it: Avant offers a seamless online experience and quick funding, perfect for emergency expenses like medical bills or urgent home repairs.
3. OppLoans – Best for Very Poor Credit (No Hard Credit Check)
OppLoans does not perform a traditional hard credit check. Instead, it looks at your income and employment stability, making it one of the easiest options to get approved for.
APR Range: 160% – 195% (Very High)
Loan Amounts: $500 – $5,000
Why we chose it: It’s a legitimate alternative to predatory payday loans and helps build credit, but only use this as a last resort due to the extremely high rates.
4. Upgrade – Best for Flexible Loan Amounts and Terms
Upgrade is well-known for debt consolidation and offers a wide range of loan amounts and repayment terms.
APR Range: 7.74% – 35.99%
Loan Amounts: $1,000 – $50,000
Credit Score: Minimum 560–580
Funding Speed: Typically next business day
Why we chose it: Upgrade often gives you a discount on your interest rate if you set up automatic payments, making it a cost-effective option for consolidating high-interest credit card debt.
5. OneMain Financial – Best Secured or In-Person Option
OneMain Financial is unique because it offers secured loans (using a vehicle as collateral) and has physical branch locations for in-person support.
APR Range: 18.00% – 35.99%
Loan Amounts: $1,500 – $20,000
Credit Score: No minimum score specified
Funding Speed: As soon as the same day
Why we chose it: If you have a very low score but own a car, you might qualify for a better rate by offering collateral. However, be aware that you risk losing your asset if you default.
6. Prosper – Best Peer-to-Peer Lending Platform
Prosper connects you with individual investors who fund your loan, which often results in more flexible approval than bank loans.
APR Range: 8.99% – 35.99%
Loan Amounts: $2,000 – $50,000
Credit Score: Accepts fair/poor credit.
Why we chose it: It allows you to add a co-borrower, which can significantly help you qualify or lower your rate if your co-applicant has good credit.
7. Achieve – Best for Adding a Co-Borrower
Achieve specializes in helping borrowers improve their financial health and is highly flexible for those looking to add a partner to the application.
APR Range: 6.25% – 36.00%
Loan Amounts: $5,000 – $50,000
Funding Speed: Fast, often next day
Why we chose it: Even if you have bad credit, adding a creditworthy co-borrower helps Achieve offer much lower rates than typical bad-credit lenders. It’s ideal for couples or family members.
8. LendingPoint – Best for Low Credit Scores & No Origination Fee
LendingPoint focuses on borrowers with scores in the 550–600 range. It offers relatively fast decisions and fair terms for this credit tier.
APR Range: 6.53% – 35.99%
Loan Amounts: $1,000 – $60,000
Funding Speed: Next business day
Why we chose it: LendingPoint has a “soft inquiry” prequalification, and unlike many other bad credit lenders, it may not charge an origination fee depending on your state, saving you upfront money.
9. First Tech Federal Credit Union – Best Credit Union Option
Credit unions are non-profit and typically offer lower rates than for-profit lenders, sometimes 2% to 3% lower than traditional banks.
APR Range: 6.99% – 18.00%
Loan Amounts: $500 – $50,000
Why we chose it: If you can join (by working for a partner company or belonging to a specific museum), this offers the lowest rates on the list for bad credit. There are no origination fees.
10. Oportun – Best for Borrowers With No Bank Account or Credit History
Oportun is a certified Community Development Financial Institution (CDFI) that accepts applicants with no credit history or no bank account.
Why we chose it: Oportun reports your on-time payments to the credit bureaus, helping you build a positive credit history from scratch. You can also apply in-person at local branches in many states.
How to Compare Bad Credit Loans
When looking for loans with fast approval, don't just focus on whether you can get the cash. Look at these three things:
APR (Annual Percentage Rate): This is your total cost of borrowing, including interest and fees. For bad credit, rates can go as high as 36% or more.
Origination Fees: Many lenders charge a fee of 1% to 12% of the loan amount, which is taken out of the money you receive.
Repayment Terms: Shorter terms mean higher monthly payments but less interest. Longer terms mean lower monthly payments but you pay much more in total interest.
Red Flags to Watch Out For 🚩
Scammers often target borrowers with poor credit. Be very cautious if you see:
"Guaranteed Approval" : No legitimate lender can guarantee approval without checking your finances first.
Upfront Fees: Legitimate lenders do not ask you to pay a fee before giving you the loan. They deduct fees from the loan amount you receive.
No Credit Check Required: Most reputable bad credit lenders still perform a "soft check" initially; if a lender promises no check at all, read the fine print carefully for triple-digit interest rates.
FAQ Section
Q: Can I get a personal loan with a credit score of 500?
A: Yes, several lenders on our list (like Upstart and Avant) work with scores of 500 or lower. However, expect higher interest rates, typically between 25% and 36% APR.
Q: How fast can I get the money after approval?
A: Most online lenders offer funding as soon as the next business day. Some, like OppLoans and First Tech Federal Credit Union, may fund the same day you are approved.
Q: Is it safe to use a "no credit check" lender?
A: You have to be cautious. While options like OppLoans are legitimate, many no-credit-check loans are expensive, with APRs often exceeding 100% to 200%.
Q: What is the difference between a "soft" and "hard" credit check?
A: A soft check lets you see your potential rate without affecting your credit score. A hard check occurs when you formally apply and can temporarily lower your score by a few points. Always prequalify first.
Q: Can a bad credit loan help me rebuild my credit?
A: Yes, if your lender reports payments to the major credit bureaus (Equifax, Experian, TransUnion). Making on-time monthly payments will slowly raise your credit score over time.
Conclusion
Having bad credit doesn’t mean you have to rely on expensive payday loans. Fast approval bad credit personal loans are widely available from Upstart, Avant, OneMain Financial, and others. The key is to prequalify with a few lenders to compare rates, check for hidden fees, and choose a loan with monthly payments you can comfortably manage. Responsible borrowing and on-time repayment can also help you rebuild your credit for the future.
Author: Jamie R.
Bio: Jamie is a personal finance writer with over a decade of experience helping consumers navigate loans, credit building, and debt management. Jamie’s advice has been featured on major financial sites, focusing on empowering readers to make informed money decisions without the jargon.
