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Do you need help taking out traditional loans from banks and credit unions? Is your credit score in the 300 to 580 range? If so, banks will not give you money because of your bad credit. In this case, you may be interested in trying no credit check loans with guaranteed approval by direct lenders from various sources, including reputable lending networks, 0% interest cash advance apps, credit card cash advances, and online lenders you can trust.
Best 5 No Credit Check Loans Guaranteed Approval from Personal Bad Credit Direct Lenders
FundsJoy – Up to $5,000 / Min Credit Score: 0 / 5 Minute Approval / Rating: 4.8/5.0 – Best Overall
MoneyMutual – Up to $5,000 / Min Credit Score: 0 / 5 Minute Approval / Rating: 4.9/5.0 – Best for No Credit Check and Bad Credit Guaranteed Approval
ZippyLoan – Up to $15,000 / Min Credit Score: 0 / 5 Minute Approval / Rating: 4.8/5.0 – Best Personal Loans for Bad Credit by Direct Lenders
LifeLoans– Up to $40,000 / Min Credit Score: 0 / 5 Minute Approval / Rating: 4.7/5.0 – Best for No Credit Check Payday Loans for Bad Credit
100Lenders – Up to $40,000 / Min Credit Score: 0 / 5 Minute Approval / Rating: 4.6/5.0 – Best for Same Day, Guaranteed Approval Personal and Payday Loans
These lenders are not as expensive as payday loans. They are cheaper than traditional payday loans, approve bad credit, are no credit check, and are almost guaranteed approval. They also offer excellent borrowing limits (up to $40,000) with generous sub-35.99% APRs, flexible repayment terms, and next day funding that can mean a world of difference in paying that pesky outstanding debt.
Keep reading to learn more about the best no credit check loans with guaranteed approval by direct lenders, including our top-rated lending networks and expert-level recommendations on boosting credit scores, establishing healthy monthly budgeting, and best practices to keep all of your finances in check.
But before we move on, we wanted to show you one quick video, explaining all about bad credit loans.
Rating: 4.8/5.0
Amount: Up to $5,000
APR: Up to 35.99%
Min. Credit Score: 0
Approval: 5 minutes
FundsJoy is an excellent source of small no credit check loans guaranteed approval and bad credit loans for those with limited to no credit histories.
Are you looking to pay an unexpected medical or past-due utility bill? What about covering a gap between paychecks? FundsJoy is not a direct lender. Direct lenders on the FundsJoy platform offer several loan products and services, most notably bad credit loans between $200 and $5,000 at competitive APRs below 35.99%. These alternative personal lenders also offer flexible repayment terms as long as 60 months, a welcome alternative to traditional payday and bad credit loans with much shorter repayment terms of two to four weeks. For people that can't qualify for personal loans, this company offers small payday loan alternatives.
Outside of its loan amounts and APRs, FundsJoy offers a quick online form that takes less than five minutes to complete. Once you complete a form, expect to be matched with several direct lenders that fit your financial situation.
How to Apply: It is straightforward to get started with FundsJoy. Scroll to the upper right navigation and click on the purple "Get Started" button. From there, you will be asked a series of questions, including desired loan amount, state of residence, and all contact/deposit details. If approved, you will be matched with several no credit check loans and bad credit loan companies offering their services.
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Terms: FundsJoy offers a variety of loan products to consumers, including bad credit installment loans, high-risk personal loans, instant online cash advances, and personal loans for bad credit. These loans go up to $5,000 with Annual Percentage Rates (APRs) of up to 35.99%. Repayment terms can extend up to 60 months. As FundsJoy operates as an online marketplace rather than a direct lender, the specific fees associated with each loan, such as origination fees, prepayment fees, late payment fees, insufficient funds fees, and rollover/extensions fees, are determined by the participating direct lenders.
For a better understanding of the potential interest charges (APRs) and fees applicable to your loan, let's consider an example. Suppose you were to borrow $2,400 with a 28% APR, on a 1-year repayment term, and without any finance charges. In this scenario, your total payment would amount to $2,779.37, with estimated monthly payments of $231.61. Over the course of the loan, you would incur $379.37 in total interest charges.
Be sure to carefully review the terms and conditions provided by each direct lender through FundsJoys platform to ensure you understand all associated costs and obligations before signing on the dotted line.
Rating: 4.9/5.0
Amount: Up to $5,000
APR: Up to 35.99%
Min. Credit Score: 0
Approval: 5 minutes
Las Vegas-based MoneyMutual is one of the more popular lending networks for no credit check loans and bad credit loans.
We appreciate how well-rounded MoneyMutual is, starting with its decent borrowing range of $200 to $5,000 personal loans. MoneyMutual is not a direct lender, but they connect you with an expansive lending network of more than 110 participating direct lenders offering competitive rates and terms. What's more – you can receive funds in your bank account within 24 hours after completing its 256-bit encrypted online form.
MoneyMutual also offers small payday alternatives no credit check for those with very bad credit.
With more than 2MM customers, MoneyMutual is one of our preferred bad credit loans guaranteed approval companies offering competitive rates and terms for cash-strapped borrowers.
How to Apply: It takes less than five minutes to complete a MoneyMutual loan request. Visit the homepage and click on the orange "Get Started" button. From there, it will ask you questions about your state of residence, desired loan amount, and contact depositing details before matching you with a list of qualified bad credit loans and no credit check loan companies.
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Terms: MoneyMutual offers a variety of loan products to consumers, including bad credit installment loans, high-risk personal loans, instant online cash advances, and personal loans for bad credit. These loans range in amount from $200 to $5,000 with Annual Percentage Rates (APRs) of up to 35.99%. Repayment terms can extend up to 60 months. As MoneyMutual operates as an online marketplace rather than a direct lender, the specific fees associated with each loan, such as origination fees, prepayment fees, late payment fees, insufficient funds fees, and rollover/extensions fees, are determined by the participating direct lenders.
For a better understanding of the potential interest charges (APRs) and fees applicable to your loan, let's consider an example. Suppose you were to borrow $3,600 with a 22% APR, on a 2-year repayment term, and without any finance charges. In this scenario, your total payment would amount to $4,482.27, with estimated monthly payments of $186.76. Over the course of the loan, you would incur $882.27 in total interest charges.
Be sure to carefully review the terms and conditions provided by each direct lender through MoneyMutual's platform to ensure you understand all associated costs and obligations before signing on the dotted line.
Rating: 4.8/5.0
Amount: Up to $15,000
APR: 12% — 35.99%
Min. Credit Score: 0
Approval: 5 minutes
For an excellent source of no credit check loans, look no further than ZippyLoan.
Participating direct lenders on the ZippyLoan lending network are willing to extend personal loans between $100 and $15,000 for bad credit borrowers, complete with same day instant approval and no denial on most loans. The company also offers a small loan amount for those that can't qualify because of their bad credit. Moreover, applying is a quick and easy process. All you need to do is complete a five-minute online application to be matched with a minimum of three direct lenders offering their competitive rates and terms at much lower APRs (from 12% to 35.99%) than traditional payday, auto title, and pawnshop loans.
Although ZippyLoan bad credit loans and no credit check loans are intended for those in the 300 to 580 score range, all credit types are accepted. Eligibility criteria are large, only requiring proof of income (minimum of $800 a month) and a valid bank account to disburse funds to.
How to Apply: ZippyLoan offers one of the most straightforward loan request forms we've come across. Navigate to the top menu, click on the "Get Started" button, and complete all the necessary fields, including the amount requested, the purpose of your loan, credit type, basic information, employment, contact, and deposit details. If you meet all qualification criteria, expect same day instant approval — as "no denial" of a loan as it gets.
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Terms: ZippyLoan offers a variety of loan products to consumers, including bad credit installment loans, high-risk personal loans, instant online cash advances, and personal loans for bad credit. These loans go up to $15,000 with Annual Percentage Rates (APRs) of up to 35.99%. Repayment terms can extend up to 60 months. As ZippyLoan operates as an online marketplace rather than a direct lender, the specific fees associated with each loan, such as origination fees, prepayment fees, late payment fees, insufficient funds fees, and rollover/extensions fees, are determined by the participating direct lenders.
For a better understanding of the potential interest charges (APRs) and fees applicable to your loan, let's consider an example. Suppose you were to borrow $12,900 with a 31% APR, on a 3-year repayment term, and without any finance charges. In this scenario, your total payment would amount to $19,969.73, with estimated monthly payments of $554.71. Over the course of the loan, you would incur $7,069.73 in total interest charges.
Be sure to carefully review the terms and conditions provided by each direct lender through the ZippyLoan platform to ensure you understand all associated costs and obligations before signing on the dotted line.
Rating: 4.7/5.0
Amount: Up to $40,000
APR: Up to 35.99%
Min. Credit Score: 0
Approval: 5 minutes
For a reputable no credit check loans guaranteed approval direct lender network, LifeLoans is up to the task.
Participating lenders on the LifeLoan platform offer no credit check bad credit loans with guaranteed approval from $100 to $40,000 at favorable sub 35.99% APRs and longer repayment terms than traditional no denial payday loans. All you need to do is complete a two-minute online application to be matched with a list of qualified no credit check loans and bad credit loan companies.
One of the best things about LifeLoans is its quick and easy online application. Plus, security is on point with 256-bit encryption, the same bank-level security used to protect your financial information. Along with clearly visible disclaimers offering representative loan samples and full advertisers disclosures, LifeLoans is trustworthy in how it approaches business with same day instant approval of bad credit loans.
How to Apply: To get started with a LifeLoan loan request, click on the bright green "Start Now" button and enter all requested information, such as your desired loan amount, as well as contact and deposit instructions. Before continuing the application, you must consent to the site's Terms of Service, E-consent, Arbitration Notice, and advertiser disclosures. Your information may be shared with third parties advertising their own loan products and services. Remember that LifeLoans uses 256-bit SSL technology to encrypt and keep your data safe.
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Terms: LifeLoans offers a variety of loan products to consumers, including bad credit installment loans, high-risk personal loans, instant online cash advances, and personal loans for bad credit. These loans go up to $40,000 with Annual Percentage Rates (APRs) of up to 35.99%. Repayment terms can extend up to 60 months. As LifeLoans operates as an online marketplace rather than a direct lender, the specific fees associated with each loan, such as origination fees, prepayment fees, late payment fees, insufficient funds fees, and rollover/extensions fees, are determined by the participating direct lenders.
For a better understanding of the potential interest charges (APRs) and fees applicable to your loan, let's consider an example. Suppose you were to borrow $9,000 with a 21% APR, on a 3-year repayment term, and without any finance charges. In this scenario, your total payment would amount to $12,206.72, with estimated monthly payments of $339.08. Over the course of the loan, you would incur $3,206.72 in total interest charges.
Be sure to carefully review the terms and conditions provided by each direct lender through the LifeLoans platform to ensure you understand all associated costs and obligations before signing on the dotted line.
Rating: 4.6/5.0
Amount: $100 — $40,000
APR: Up to 35.99%
Min. Credit Score: 0
Approval: 5 minutes
100Lenders is a highly recommended no credit check loans guaranteed approval provider offering generous borrowing limits and competitive APRs.
This non direct lending network is designed to accommodate bad credit borrowers, offering bad credit loans from $100 to $40,000 at competitive sub 35.99% APRs. Where it shines with its repayment terms, you can now be bound by two to four-week turnaround times, with many bad credit loan companies on the platform allowing as long as 60 months to repay back your loan.
If you wish to avoid searching for 'no credit check loans near me' on Google any longer, then 100Lenders is an excellent choice for your next personal funding opportunity.
How to Apply: Getting started with 100Lenders is very easy. On the home page, you will find two buttons, "Get Started" and "Start Now." clicking on either of them will pull up an application form where you will be required to enter your desired loan amount, state of residence, contact/depositing instructions and other pertinent details. Once submitted, expect to be matched with several direct lenders before signing off on bad credit loans guaranteed approval documentation, followed by funding to your bank account as early as the next business day.
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Terms: 100Lenders offers a variety of loan products to consumers, including bad credit installment loans, high-risk personal loans, instant online cash advances, and personal loans for bad credit. These loans go up to $40,000 with Annual Percentage Rates (APRs) of up to 35.99%. Repayment terms can extend up to 60 months. As 100Lenders operates as an online marketplace rather than a direct lender, the specific fees associated with each loan, such as origination fees, prepayment fees, late payment fees, insufficient funds fees, and rollover/extensions fees, are determined by the participating direct lenders.
For a better understanding of the potential interest charges (APRs) and fees applicable to your loan, let's consider an example. Suppose you were to borrow $14,500 with a 33% APR, on a 2-year repayment term, and without any finance charges. In this scenario, your total payment would amount to $19,999.08, with estimated monthly payments of $833.30. Over the course of the loan, you would incur $5,499.08 in total interest charges.
Be sure to carefully review the terms and conditions provided by each direct lender through the 100Lenders platform to ensure you understand all associated costs and obligations before signing on the dotted line.
No credit check loans are short-term loans, generally small cash amounts of up to $500 repaid in two to four weeks. Their main claim to fame is that no minimum credit scores are required. Instead, only credit check loan companies depend on other qualification criteria, such as income and employment status.
They can be used for all expenses from small $100 unpaid electric bills to $2,000 impromptu trips to the Egyptian pyramids. The main recipients of no credit check loans are bad credit borrowers with scores in the 300 to 580 range. Since they target bad credit borrowers, no credit check loans generally have higher interest rates and fees. However, some exceptions exist, such as 0% interest cash advance apps like Earnin, Brigit, and Dave.
One important thing to note with no credit check loans is that not all no credit check loans are considered equal. They can be divided into two types — reputable and predatory. Reputable no credit check loans are offered at online marketplaces like MoneyMutual and ZippyLoans, good for sub 35.99% APR loans of up to $15,000 (even up to $40,000 in some cases). Others include 0% interest cash advance apps like Earnin and Brigit, higher dollar bad credit personal loans, and lower dollar payday alternative loans (PALs) from credit unions.
Conversely, predatory no credit check loans continue to dominate the scene. They consist of three types — payday, auto title, and pawn shop loans, known for their egregious 300% and 400% APRs designed to trap borrowers into vicious debt cycles that can take months or years to climb out of with poor money management habits. It's not out of the question for these types of loans to incur ongoing rollover/extension fees, overdrafts, and late fees.
Continue reading our guide to learn more about our preferred no credit check loan options with favorable rates and terms.
Explaining how no credit check loans with guaranteed approval work is easy.
For starters, no credit check loans require no minimum credit score. They are heavily targeted toward borrowers with limited to no credit history who have difficulty qualifying for traditional loans from banks and credit unions.
Other eligibility criteria for no credit check loans include proof of income (e.g., pay stubs, bank statements, or electronic timesheets), as well as a government-issued photo ID, U.S. citizenship/permanent residency, home/email address, and a valid bank account.
Unlike traditional loans, no credit check loans guaranteed approval are popular for their easy accessibility, funding speed, and flexibility. Funds can be deposited to your bank account by the next business day. Cash advance apps like Earnin and Brigit can even disburse funds in minutes in exchange for a small expediting fee. Along with accessible five-minute online loan request forms from reputable lending networks like MoneyMutual and ZippyLoan, it's always been challenging for bad credit borrowers to take out a no credit check loan/bad credit loan with reasonable rates and terms.
On the flip side, no credit check loans guaranteed approval direct lender does have its drawbacks. They come with higher than average interest rates and fees (up to 35.99% APR) with limited borrowing options, mainly restricted to unsecured loans. Other types of loans like secured loans, lines of credit, and co-signer/co-borrower loans are usually found elsewhere.
Traditional no credit check loans from cash advance places also have a high likelihood of being scams, engaging and deceptive lending practices with excessive marketing jargon, "guaranteed" rates, exorbitant upfront fees, and other high-pressure sales tactics. Luckily, we provide all of the tools needed for you to easily identify scams.
We highly recommend no credit check loans from reputable online marketplaces, not traditional same day payday loans from cash advance stores in undesirable neighborhoods.
No credit check loans can be used for all expenses, from emergencies to large-scale projects.
Common uses for them include but are not limited to:
Remember that no credit check loans guaranteed approval typically come with higher interest rates, shorter repayment terms, and traditional loans from banks and credit unions. Therefore, it is imperative that you carefully research all loan terms and conditions before signing on the dotted line.
Here are the pros and cons of them:
Mainly Unsecured Loans. Most no credit check loans are unsecured, meaning you do not have to put up collateral to secure them. This means immediate access to funds with much less risk.
Processing Speed. Today, no credit check paycheck advances from reputable cash advance apps like Earnin and Brigit can fund your bank account in minutes versus the next business day for online marketplaces like MoneyMutual and ZippyLoan. With looming unpaid medical bills and accruing interest with no grace period on some debts, every day matters.
It's a welcome change from traditional banks and credit unions that may take seven business days to send funds.
Flexibility. You should no longer be bound to traditional payday loans with their outrageously short two to four-week repayment terms. Instead, online cash advances and no credit check bad credit personal loans from reputable lenders offer repayment terms as long as 72 months, allowing for lower monthly payments and greater budgeting flexibility.
Higher Than Average Interest Rates. Except for 0% interest cash advance apps, no credit check loans guaranteed approval offer higher than average interest rates of up to 35.99%. For perspective, a 31% APR $4,000 loan on a two-year repayment term will result in total payments of $5,417.17 ($1,417.17 in total interest).
In contrast, the same loan amount and repayment term at a lower 14% APR will only result in total payments of $4,609.24 ($609.24 in total interest).
Not All Direct Lenders are Equally Transparent. Despite lending networks working with only reputable, legit direct lenders, not all are equally transparent regarding rates and fees. Although they offer sub 35.99% APRs and fair terms, not all direct lenders explicitly state full loan terms and conditions with helpful representative loan examples to guide borrowers. Others may post these details, but they may be harder to find.
That's why comparing, shopping, and evaluating at least three direct lenders is essential to make the best lending decision.
Risk of Debt Cycle. Taking out traditional no credit check loans may put you in a never-ending cycle of debt, especially two or more consecutive rollovers incurring additional finance charges. Plus, if your checking account balance reaches close to zero regularly, you may incur multiple $39 overdraft fees within a short period, thanks to traditional payday lenders who repeatedly attempt electronic withdrawals without checking with you first.
Although small payday no credit check loans and installment personal bad credit loans guaranteed approval are often used interchangeably, they have a few differences.
The main differences between them mainly lie with APRs, fee structure, borrowing limits, and repayment terms.
Traditional payday no credit check loans charge 400% APRs or up to $30 for every $100 borrowed. On top of that, these loans offer outstanding fees, from rollover fees to late/insufficient funds fees. They are even responsible for racking up fees that they are not responsible for, such as bank overdraft fees thanks to pay no credit check loan companies making multiple withdrawal attempts.
All payday loans are paid anywhere from two to four weeks, whenever the borrower's next payday is. Borrowers can extend the loan but must pay a rollover/extension.
In turn, installment personal bad credit loans guaranteed approval from reputable online marketplaces such as MoneyMutual and ZippyLoan offer an excellent alternative for bad credit borrowers, increasing borrowing limits as high as $100,000 and capping APRs at 35.99%, the maximum threshold for bad credit borrowers. On top of that, repayment terms extend as long as 60 months installments, providing greater breathing room with a monthly budget.
Unlike payday no credit check loans, very few personal bad credit loans guaranteed approval can be extended.
Lastly, all participating bad credit personal loans with guaranteed approval companies at our recommended lending networks are thoroughly verified to ensure they are legit and non-predatory. They do not engage in questionable collection practices or marketing campaigns.
Overall, look to take out personal bad credit loans over traditional payday no credit check loans at all times.
Direct lenders are sometimes better than non-direct lenders. Each has its distinct pros and cons. Whichever one may be better suited to your needs depending on your financial habits and unique circumstances.
For starters, direct lenders offer loans directly to borrowers without using intermediaries like online lending Networks (e.g., MoneyMutual). Direct lenders manage the entire loan application process from application to approval to funding. Thanks to its one-stop-shop style, direct lenders generally offer lower interest rates, higher borrowing limits (up to $100,000), and greater repayment term flexibility.
On the other hand, non-direct lenders like MoneyMutual and ZippyLoans operate as intermediaries, connecting bad credit borrowers with a network of participating legit bad credit loans and no credit check loan lenders competing for your business. A single interface allows you to view more options for easy rate comparison shopping. Expect loan amounts to be at most $40,000, with most lenders extending offers up to $10,000 with sub 35.99% APRs and repayment terms of up to 72 months.
In short, look to direct lenders if you want lower interest rates and greater term flexibility (assuming you qualify) and non-direct lenders for greater lending options more geared towards bad credit borrowers with credit scores in the 300 to 580 range.
As with all loans, no credit check loans impose different fees and penalties.
The most common fees and penalties are associated with no credit check and payday loans.
Application Fees. Mainly a staple of direct lenders like credit unions, this non-refundable fee is charged when you apply for a loan. Expect to pay at most $50.
Origination Fees. To cover the cost of processing and dispersing funds to your bank account, direct lenders may charge origination fees anywhere from 0% to 8.99% of the loan amount (e.g., Upstart). For example, a 5% origination fee on a $5,000 loan would equal $250, which is automatically withdrawn from the loan proceeds.
Late Payment Fees. One of the most popular types of fees, late payment fees are issued when you do not pay your loan on time. Expect to pay a flat fee (up to $39) or a percentage of the amount due.
Prepayment Penalties. Very few lenders charge fees for paying off loans early. Not surprisingly, lenders make the most money with interest charges over the life of the loan, so cutting a loan early cuts into their profit. Fortunately, all our recommended direct and non-direct lenders do not assess prepayment penalties.
Renewal Fees. Popular with traditional payday loans and some online cash advance loans, renewal fees are issued when rolling over a loan past the due date. Like payment fees, renewal fees comprise a flat fee or percentage of the loan amount. It's common for renewal fees on traditional payday loans to be as high as $50 for every $500 borrowed.
As with all loans, carefully review all loan terms and conditions to ensure you're not trapped into unnecessary fees and penalties.
Unfortunately, the traditional no credit check loans industry is rife with scams. From entirely fraudulent ghost companies to predatory collection practices, these predatory lenders have a lot of tricks at their disposal.
Here are three surefire signs your bad credit loans provider is a likely scam:
Out-of-Nowhere Phone Calls. One of the most common types of payday loan scams is phantom debt collection scams. A mysterious phone call from a debt collector claims that you owe anywhere from several hundred dollars upwards of several thousand dollars. Remember, all direct lenders must adhere to the Fair Debt Collection Practices Act (FDCPA), which prevents them from employing these threatening tactics. If in doubt, always ask for written confirmation of the debt and keep your personal information private.
Upfront Fees. Bad credit loan scammers are notorious for requesting upfront fees. Often, upfront fees are asked to secure " guaranteed rates" or "once-in-a-lifetime opportunities.". Under no circumstances will a legit bad credit loans company ever ask for an upfront fee.
Loan Modification Scams. Often, bad credit loan companies play the hero role, calling you to make a special offer on lower monthly payments on a new loan. Unfortunately, they will often ask for upfront fees in exchange. Don't ever fall for it!
Remember, the best no credit check loans guaranteed approval direct lender always have visible disclaimers on their websites, complete with terms of use, privacy policies, representative loan examples, and other helpful information that give no credit check loans customers confidence.
Fortunately, it is easy to find the best no credit check loans with guaranteed approval by direct lenders for bad credit.
Follow the instructions below, and you'll be on your way to finding the right funding opportunity for any emergency expense in no time.
Self-Evaluation. The first step is to determine your credit score. Visit annualcreditreport.com and pull a free credit report from the three major reporting credit bureaus — Equifax, TransUnion, and Experian. Is your credit score in the 300 to 580 range? If so, consider online lending networks like MoneyMutual and ZippyLoans. Is your credit score slightly above 580 and your desired loan amount above $10,000? A fair credit loan from Upgrade/Upstart or a bad credit personal loan from a credit union may be a better option.
Identify Sources. Once you have learned your credit score and know how much you want to borrow, identify the lending Networks, 0% cash advance apps, and credit unions that offer no credit check loans with guaranteed approval by a direct lender for your situation.
If you prefer sub 35.99% APRs on loans from $100 to $40,000 with shorter repayment terms, then lending networks or alternative payday loans from credit unions like Alliant Credit Union, Pentagon Federal Credit Union, and First Tech Federal Credit Union are a good option.
If you want to cover gaps between paychecks (e.g., $100 to $750), top-rated cash advances apps like Earnin, Brigit, and Dave are excellent no credit check loan options.
What about quick cash you can repay in four or five days? You may also consider a credit card cash advance of up to $500.
Are you looking for a higher dollar loan of $20,000 and up with an APR under 30%? You may have better luck with a bad credit personal loan from an online marketplace or credit union like Alliant Credit Union.
Shop Around. Once you have performed your self-evaluation and identified sources, it's time to shop around. If you fall under the first category, we recommend submitting loan requests for at least two lending networks. Then, have five or six participating direct lenders offer you their competitive rates and terms for you to decide upon.
Take the time to research carefully before signing on the dotted line. Expect excessive payments and fees if you don't read all disclaimers carefully.
Whether you have a limited credit history or poor credit history, there are bad credit loans/no credit check loans guaranteed approval worth considering, all offering some of the same advantages as loans from traditional funding sources like banks and credit unions.
Suppose you have bad credit and prefer to avoid taking out no credit check loans from reputable online lending networks like MoneyMutual and ZippyLoans. In that case, we recommend the following payday and non-payday alternatives to bad credit loans guaranteed approval:
Cash Advance Apps. Over the past decades, payday cash advance apps have exploded in popularity thanks to their speedy funding (often in minutes), generous borrowing limits, and easier qualification criteria than traditional lending institutions. Our top five recommended personal cash advance apps are Earnin, Brigit, Dave, Albert, and MoneyLion.
If you only could choose one, go for Earnin. It offers the highest borrowing limits of up to $100 per day or $750 per pay period at 0% interest, repaid with your next paycheck. An intuitive smartphone app, same day funding, and hundreds of thousands of positive App Store and Google Play reviews make it a formidable bad credit loan alternative.
Payday Alternative Loans (PALs). If you're looking for slightly higher borrowing limits than cash advance apps of up to $2,000 at modest 17.99% APR caps, look no further than payday alternative loans from reputable credit unions. Rather than require a minimum credit score, credit unions are more likely to use proof of income as their main eligibility criteria.
Our top recommended credit unions for payday alternative loans include Navy Federal Credit Union, Alliant Credit Union, Pentagon Federal Credit Union (PenFed), and First Tech Federal Credit Union.
Remember that not all credit unions offer the max $2,000 borrowing limit. For example, North Carolina-based State Employees' Credit Union PAL provides up to $500 with up-to-six-month repayment terms versus the larger Digital Federal Credit Union, which is good for PAL loans as little as $200 up to $2,000 with repayment terms of up to 12 months.
Bad Credit Personal Loans. If you are looking for the highest borrowing limits (up to $100,000), we highly recommend bad credit personal loans from SoFi, Upstart, and Upgrade. APRs are favorable (up to 35.99%) with up to 72 months of repayment terms and little to no fees, including origination and prepayment penalties. However, these direct lenders require slightly higher credit scores in the 600 range to compensate for higher borrowing limits.
Unfortunately, instant same day bad credit loans from predatory lenders are all too commonplace, a fixture in high traffic areas and commercial districts.
Here are instant same-day loans to avoid at all costs:
Payday Loans. Arguably the No. 1 type of predatory loan, payday loans are notorious for low borrowing limits (up to $500), egregious 400% APRs, and excessive renewal/rollover fees of up to $60. Although intended for emergency expenses, they create more trouble than they're worth, pitting borrowers into a vicious debt cycle.
To understand the cost associated with payday loans, consider the following example. Pretend you are taking out a 400% APR, $500 payday loan. Total principal plus interest and fees paid would equal $620 ($120 in fees and interest), based on $20 for every $100 borrowed.
Auto Title Loans. Auto title loans are one of the worst types of bad credit loans out there. Despite its status as offering bad credit loans guaranteed approval, auto title loans require putting up a vehicle as collateral, with loan amounts based on the percentage of the vehicle's value (up to 50%). Expect 300% APR loans from $250 to $1,000 on 30 day to six-month repayment terms.
According to a report by the Mercatus Center at George Mason University, roughly 14 to 17% of auto title borrowers default on their loans, with approximately 8% resulting in vehicle repossessions. Given this high percentage, auto title loans are not worth the risk.
Pawnshop Loans. Another type of short-term loan, pawn shop loans are just as predatory as payday and auto title loans. It's a type of secured loan requiring borrowers to put up jewelry, a television, or similar assets, whereas pawn shops lenders issue a loan amount based on a percentage of value. Failing to repay your loan will force the pawn shop to repossess your assets.
Although pawn shop loans offer no credit checks or proof of income, it charges 300% APRs and excessive fees are too much to handle. Even if you are confident that you can repay it within a week, we highly recommend avoiding pawn shop loans. Consider bad credit loans guaranteed approval from lending networks a much safer option.
With over 12 million Americans taking out payday loans yearly, no credit check loans or big business. Combined with the fact there are more than 23,000 payday loan stores throughout the country issuing an average loan size of $375 (versus $520 in average fees paid for every $375 borrowed), interest and finance charges equate to roughly $9 billion dollars in annual loan fees alone.
Along with this stat, one in four payday loans sees rollover/extension fees. The amount payday lenders earn is incomprehensible!
Thanks to these no credit check loans' predatory rates and inflexible terms, payday loan regulations have cracked down on these lenders, ensuring they adhere to fair lending practices. Each state now enforces protections by introducing interest rate/fee caps, restricting repayment terms, enforcing full disclosure requirements, and cooling off periods.
As of today, no credit check payday loans are illegal in the following states: Arizona, Arkansas, Colorado, Connecticut, District of Columbia, Georgia, Maryland, Massachusetts, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Pennsylvania, South Dakota, Vermont, and West Virginia.
In states where payday loans are legal, expect strict regulations. For example, Georgia and New York have outright banned payday loans, whereas Alaska mandates a maximum loan amount of $500 with a max 14-day repayment term and non-refundable origination charges no greater than $5 (along with no fees exceeding $15 for every $100 borrowed.
To minimize your chances of taking out personal bad credit loans, we highly recommend using automated cash and budgeting tools to streamline your finances, providing one easy glance view of your incoming cash flow and fixed versus variable expenses.
Rather than present the most popular budgeting tools like Mint.com., Rocket Bill, and Simplifi, we purposely researched and evaluated under-the-radar apps. Although they do not boast thousands and thousands of App Store and Google Play reviews, the following apps offer just-as-effective budgeting tools as the major players.
Here are four highly recommended apps:
PocketGuard. With over 500,000 users, PocketGuard is a strong Mint.com competitor, responsible for roughly 680+ million dollars saved, thanks to its robust suite of personal finance tools, including a bill payment tracker, budgeting tool, fraud protection, and budget categorization workflows. Even those accustomed to taking out bad credit loans guaranteed approval direct lender can benefit.
Users can view their accounts and transactions in one place, including investment, savings, checking account balances, loans, and credit card balances. The app also allows you to schedule recurring expenses and track your cash flow/net worth over time. Kudos for PocketGuard's powerful 256-bit SSL encryption for secured data, offering the same level of protection as banks and credit unions.
Even for those taking out bad credit loans guaranteed approval, this is a very helpful tool.
Honeydue. Designed specifically for couples, Honeydue allows users to create budgets, track expenses, and enjoy automated email notifications when their next bill is due. However, one of its most innovative features is its built-in chat function which allows couples to discuss upcoming bill dates and other financial concerns. In addition, accounts can be tracked across more than 20,000 financial institutions, making it one of the more robust Integrations we've seen to date.
EveryDollar. EveryDollar is a monthly budgeting app that allows you to view your expenses and incoming cash flow in one easy glance. It helps singles and couples avoid overdraft fees and save towards specific goals, such as a vacation or a new vehicle. Like Mint.com and PocketGuard, one can connect accounts and create custom budget reports to keep your expenses on track, even for no credit check loans, payday loans, bad credit loans guaranteed approval direct lender, and personal bad credit loans.
Empower Personal Wealth. Formerly known as Personal Capital, Empower Personal Wealth works differently than PocketGuard, Honeydue, and EveryDollar. Rather than provide strict budgeting functions, it allows borrowers of all credit types to pay human advisors in exchange for managing their portfolios, just as long as they have a minimum asset worth of $100,000.
Although this app has a high entry barrier, it's an excellent "set it and forget it" tool, allowing you to devote less time to start tracking and more time to managing monthly budgets. It applies to everyone, whether you are a regular borrower of no credit check loans/bad credit loans guaranteed approval.
A critical aspect of personal finances is the ability to save money. The more you save, the less likely you will take out a no credit check loan guaranteed approval by direct lender.
Here are four time-tested personal strategies to reduce your chances of taking out personal or payday no credit check loans.
Use Coupon Apps. Coupon apps like Obotta, Honey, Rakuten, and RetailmeNot are an often overlooked way to save money. They offer discounts on all services, including groceries, movie tickets, and jewelry. Browse each app for all available deals and follow instructions on redeeming it in-store or online. Even one coupon can mean the difference between a steak dinner and a microwavable dinner for people who regularly take out personal no credit check loans.
Invest in Energy Efficiency. We are big fans of energy-efficient devices like LED light bulbs, Energy-star rated appliances, and programmable thermostats like Google's Nest, which allows you to consume less electricity when out of the house and vice versa.
Automating Savings. One of the best ways to avoid taking out bad credit loans guaranteed approval or personal bad credit loans is by automating your savings with tools like Chime, Digit, and Acorns. For example, set up automatic transfers from a checking account to your brokerage account every month. With regular use of these tools, typing 'no credit check loans near me' or 'bad credit loans guaranteed approval direct lender' into Google will be a thing of the past.
Use Budgeting Tools. Personal budgeting tools like Mint.com offer an organized way to keep track of your finances, and you can easily view all income and fixed versus variable expenses in one place. This allows you to identify areas where you can lower costs, e.g., cutting back on dining/entertainment and using coupons to reduce grocery costs.
To minimize your chances of taking out a no credit check loan guaranteed approval with higher than average interest rates, we strongly encourage you to avoid personal poor money management habits that can drop your credit score by 50 points or more.
Even a slight uptick in credit score could mean the difference between a 35.99% APR and a 22% APR.
Here are four credit score killers to be aware of:
High Credit Utilization. If you consume most of your available credit, expect your credit score to drop. Therefore, we recommend keeping your credit utilization ratio at 30% or less.
Missing Payments. Even a single missed payment could drop your credit score drastically by as much as 100 points. If racking up to or more consecutive payments within a short period, a 200 point drop is not out of the question. Make all of your monthly payments on time, every time, enrolling in automatic payments if necessary.
Delinquencies and Bankruptcies. A single background check on your credit report can remain on record for up to 10 years, just qualifying you from applying for other types of credit, including bad credit personal loans. Likewise, collections activity and charge-offs may remain on your record for up to seven years.
Not Disputing Credit Reporting Errors. Refrain from automatically assuming that all personal information posted on your credit report is correct. With one in five Americans experiencing credit reporting errors, you must check for errors regularly, disputing it/them with the creditor or credit bureau in question.
If you discover an error on your credit report, here are helpful links to get started:
Experian – www.experian.com/disputes/main.html
TransUnion – https://dispute.transunion.com
Nowadays, self-employed and gig workers, Uber drivers, and Doordash delivery people are part of a particular group that may earn top income, but often irregularly. As a result, some days could be record-breaking while others could be close to zero. Thankfully, these gig workers have plenty of funding opportunities, notably cash advances before payday.
Here are three highly recommended no credit check loan apps for self-employed and gig workers.
Stoovo. Calling itself a "smart navigation app for gig workers," Stoovo offers gig workers and freelancers cash advances of up to $100 with no fees. In addition, it helps people find flexible jobs and acts as a social media network, connecting them with other gig workers who can recommend parking spots, gigs, and other opportunities in the freelancing economy.
Coverr. Designed to address the needs of 1099 workers, Coverr offers gig workers and freelancers high borrowing limits on cash advances up to $1,500, just as long as you provide a driver's license and your past four weeks of earnings. Like lending networks, it runs no credit checks with same-day approval, and funds are disbursed to your bank account by the next business day with no interest or hidden penalties.
Moves. Moves offer gig workers cash advances up to $1,000 and a platform to track their earnings. Based on your earnings potential, it will qualify you for cash advances. One of its biggest draws is that it is fully integrated with more than ten ride-sharing and freelance work apps, allowing you to see all your earnings on one screen. Our only knock on the services is that funds can be received within two business days. However, this should be fine for a good percentage of gig workers.
Fortunately, there are many local governmental problems programs cash-strapped borrowers with bad credit can turn to in times of need. However, if you have already taken out consecutive payday loans or cash advances, you may be thinking about a larger problem around affordability.
Here are highly recommended sources of emergency cash help from local and federal governments:
Utility Bills. The Low-income Home Energy Assistance Program (LIHEAP) assists low-income households in paying their utility bills. To qualify for the program, you must meet federal poverty level guidelines (150% below this threshold). Therefore, do not expect full utility bill payment, but a healthy partial payment that can put you in better shape.
Florida Temporary Assistance for Needy Families (TANF). The TANF program uses block grants awarded to each state to provide cash assistance to the unemployed or people meeting low-income thresholds. To qualify, you must have a child 18 years or younger, be pregnant, or younger than 18 with a head of household status.
For information about availability in other states, visit the Office of Family Assistance – Temporary Assistance for Needy Families (TANF)
USA.gov. Although not technically a program, this US government page offers information on how to find immediate cash assistance with referrals to various organizations. This website allows you to search for financial aid based on several categories, including people with disabilities and military veterans.
To identify all of our recommended no credit check loans and bad credit loan companies, we closely examined four key criteria: APRs, repayment terms, ease of use/transparency, and fee structure.
APRs. We only considered low APR sources. For example, our recommended lending networks have direct lenders offering APRs up to 35.99% versus 17.99% APR caps for credit unions and 0% interest from cash advance apps like Earnin and Brigit. These APRs are much better than the predatory rates offered by payday, auto title, and pawnshop loans.
Repayment Terms. A standard two to four-week processing time is too much of a limited option (except for cash advance apps that operate more as paycheck advance services). We appreciate lending networks that offer repayment terms of up to 60 months (even 72 months in some cases), which provides greater flexibility in managing monthly budgets.
However, it is essential to remember that the longer the repayment term, the more interest you will pay over time.
Ease of Use/Transparency. Our recommended options have visible disclaimers on the website that offer all terms of use, privacy policies, advertiser disclosures, and information on how your data may be shared with third parties advertising their loan products and services. We also heavily rely on third-party reviews, most notably App Store in Google Play ratings for Earnin, Brigit, and other recommended apps.
Fee Structure. Most of our loan options offer no origination or prepayment penalties. Remember that some FundsJoy direct lenders may charge origination fees of up to 5%. However, many more lenders offer 0% origination fees, and almost all offer no prepayment penalties. We're looking for this type of flexibility with no credit check loans and bad credit loans.
Sources
Several types of loans do not require a credit check. These include no credit check loans from online marketplaces, cash advance apps, and some bad credit loans, as well as payday, auto title, and pawnshop loans. However, we do not recommend the last three, as they charge outrageous 300% and 400% APRs with short two to four-week repayment terms and excessive rollover fees.
The easiest type of loan to get with no credit is a paycheck advance for my 0% interest cash advance like Earnin, Brigit, and Dave. Along with no credit checks, these services charge minimum fees, even for processing (e.g., Earnin's voluntary tip format of up to $14 versus monthly membership fees for Brigit and Dave). Hundreds of thousands of users have cited its speedy transactions, peace of use, and instant approval/same day funding on quick and easy paycheck advances.
With no credit checks, expected loan offers are up to $40,000 at sub-35.99% APRs from reputable online marketplaces like MoneyMutual, LifeLoan, and MarketLoans. However, most bad credit loan companies on these platforms will only offer up to $10,000, citing increased credit risk. That's why we highly recommend comparing the minimum of three direct lenders from at least two funding sources.
There are many ways to get money for bad credit borrowers in an emergency. Including but not limited to bad credit personal loans, payday alternative loans (PALs), instant online cash advances, and predatory lending opportunities from payday, auto title, and pawn shop lenders. Each offers varying APR/fee structures, repayment terms, and funding speed.
Now that you have finished reading this no credit loans/bad credit loans guide, there is no reason to enter 'no credit check loans near me' into Google anymore. With more than enough plentiful options to secure your next no credit check loan, rest assured you will enjoy low APRs, flexible repayment terms, and relaxed eligibility criteria that allow you to take care of all of life's quick and dirty expenses.
