Can You Really Get a Loan With Bad Credit?
Yes — bad credit does not automatically disqualify you from borrowing. A "bad" credit score (generally defined as anything below 580 by FICO standards) makes traditional bank loans difficult, but a growing number of online lenders specialize in lending to borrowers with poor or limited credit history.
These lenders evaluate your full financial picture — including your income, employment status, and monthly expenses — not just your credit score. This means that even with a score in the 400s or 500s, you may still qualify for a personal or installment loan.
What Loan Amounts Are Available?
Bad credit loan amounts typically range from $500 to $10,000 through our lender network. The amount you're approved for depends on:
- Your monthly income and ability to repay
- Your current credit score and recent payment history
- Your state of residence (some states have lending restrictions)
- The specific lender you're matched with
If you have a credit score above 580 and stable income, you may qualify for larger personal loans up to $35,000 or more through some of our partners.
What Interest Rates Should I Expect?
Bad credit loans typically carry higher interest rates than loans for borrowers with good credit. APRs for bad credit personal loans generally range from 18% to 35.99%, though short-term and payday-type loans may be significantly higher. Always review the loan agreement in full before accepting any offer.
How to Improve Your Approval Odds
- Show stable income: Consistent employment or a regular income source (including SSI, disability, or benefits) improves your profile
- Reduce your debt-to-income ratio: Paying down existing balances before applying helps
- Choose a realistic loan amount: Requesting only what you need improves approval odds
- Apply with multiple lenders: Our matching service submits your profile to multiple lenders simultaneously — increasing your chance of at least one approval
Types of Bad Credit Loans Available
Installment loans: Fixed monthly payments over a set term (3–60 months). These are generally the most affordable option for bad credit borrowers.
Payday / short-term loans: Small amounts ($100–$1,500) repaid on your next payday. Higher APRs but very fast approval.
Personal loans: Flexible-use loans with longer repayment terms. Some lenders offer personal loans to borrowers with scores as low as 560.