A bad credit loan can help people borrow money even if that have a bad credit score. Maybe you have missed some payments in the past, but this should not define your future. If your financial position is improving and you are passionate about paying your loan on time, you can certainly apply and get the loan you need.

It is not just your credit score that is considered, our lenders will take into account various things including:

  • Your age
  • Your type of residence
  • The amount you have asked to borrow with the lender
  • Your income.
  • Your employment status
  • Your affordability

There are a range of different types of bad credit loans, including payday loans, installment loans and title loans too.

Loan Amounts$100 to $35,000
Loan Duration30 days to 5 years
APR8% to 400% APR
Bad Credit AcceptedYes
Same Day FundingYes
Secured or UnsecuredBoth

Step 1 – Choose Your Loan Amount

Select how much you wish to borrow and how long for using our online form in less than 5 minutes.

Step 2 – Apply Online

We require some basic information including your name, address, employment, contact details and bank details so we know where to send the funds. It is essential that this information is accurate and we work hard to ensure your data is safe and secure.

Step 3 – Receive Funds

You will receive instant approval and a competitive offer on the screen. If you wish to proceed, you can sign the online loan agreement and subject to further checks receive your funds in 1 to 24 hours.

Whilst a loan is never guaranteed, especially if you have bad credit, Pheabs certainly has a number of options to help. We work with such a range of lenders including apps, stores, credit unions, title loans, payday loans online, cash advances and more — that we will match your requirements with the best lender and product for you to maximize your chances. You will still need to be employed with a regular income and be able to make repayments on time.

If it is guaranteed approval loans that you are looking for, there are a number of bad credit loan companies out there and their loan products are adjusted to suit people with poor credit histories. Perhaps the loan terms are a little longer and you can pay back in multiple installments, or maybe there is just a limit to the amount you can borrow. In some cases, the rates charged might be a little higher to reflect the potential risk of default.

But just because you have a bad credit score does not mean that you are not trying to improve or could be a good person to lend to. In fact, you may have overcome a tough situation and are now on the road to improving your credit score.

If you have a very poor credit rating, Pheabs have a number of lenders who are willing to consider your application. You just need to have a stable income and can commit to making your repayments on time each month.

Yes, you can get approved for bad credit loans for emergencies, whether you have a broken down car, medical bill or plumbing problem at home, you can borrow $1,000, $2,000 or more to fix everything and get back on your feet.

Although we always try hard to have money saved for a rainy day, you can never be sure when an emergency will arise. Whilst emergencies are always difficult and tricky to pay for, the last thing you want is to be declined because of bad credit — but fear not, there are a number of lenders who will gladly consider your application.

When it is an emergency loan, we appreciate that you will need cash quickly, so with an instant decision and fully online process, Pheabs can approve your loan on the same day and sometimes, you can receive money to your bank account in just a few hours.

Yes, you can choose to repay over 1 or 2 months, or use an installment loan to repay over 3,6 or 12 months, usually in equal monthly installments.

This can certainly help people with bad credit to spread the cost of repayment into smaller amounts, making it more flexible and manageable to pay off. Plus, you always have the option to pay back early if you need to. So if the loan lasts for 24 or 36 months, you could pay back in half that time if you prefer to and you will often save money since less interest is accrued.

Can I Get a Loan with No Credit Checks?

If you are looking for a bad credit loan with no credit checks, you will probably need to consider using some form of collateral, such as a property, car, bike, van or anything else with value.

This is where you are able to borrow against something valuable, so credit scores are less important here, but ultimately you could risk losing your collateral if you do not keep up with repayments. No credit check loans are possible to get, but you just need to be strong in other areas such as having security, a stable income and employment.

urgent loans bad credit

What is The Eligibility Criteria?

  1. US or Canadian citizen or resident
  2. Over 18 years of age (born in 2006)
  3. Must be employed part-time or full-time
  4. Must have a SSN
  5. Have a live checking account
  6. Able to make repayments on time
  7. Bad credit OK
  8. No recent bankruptcy 

Pheabs can offer quick loans for people with bad credit on the same day, next business day or sometimes within just a few hours. We have already successfully completed some loans within 1 hour of approval. 

When applying for small loans for bad credit or unsecured products, these are usually processed automatically through income, credit scoring and affordability — so the process can be much faster and you can receive funds on the same day.

If you are looking to borrow a large loan or you may need to use collateral such as a car or property, this requires more checks and validation and therefore it can take a few days to process.

Pheabs can facilitate poor credit loans across the entire US and we can match your application with a lender who is near you and can offer the best terms possible, with funding available in 1 hour, 24 hours or the next business day.

Alabama >

Colorado >

California >

Illinois >

Indiana >

Iowa >

Kentucky >

Louisiana >

Maryland >

Ohio >

Tennessee >

Texas >

Pheabs offers a 100% online process, so all you need to do is click on ‘Get Started’ and you will be taken to our online application form where you can enter your details such as age, location, loan amount, loan duration, income and expenses — and you can get an instant decision on the screen.

As a loans connection service, we will match your application with the lender who is most likely to approve you and offer the best rates. If you accept the initial quote, there will be some further checks on your income and affordability, but if approved you can receive funds within an hour, the same day or next day.

We do not charge any fees for using our service — and we never will. We always work hard to find the best bad credit loan options for our customers — and you can have peace of mind that applying with Pheabs will not impact your credit score in any way.

Are The Rates Higher For People With Bad Credit?

Yes, the rates charges tend to be higher for people with bad credit histories to reflect the potential risk of default. This is across all financial products including car loans, credit cards and personal loans.

Can I Get a Guaranteed Bad Credit Loan?

We can never offer guaranteed loans for bad credit since every application will be subject to an income and credit check — and we cannot guarantee a loan since you will need to proof that you can afford to repay on time and not fall into financial difficulty.

What Happens if I Cannot Repay My Loan?

If you cannot pay back your loan, you will be charged late fees and this will have a negative impact on your credit score, making it harder to access finance in the future. If you are having trouble repaying, make sure you speak to your lender as soon as possible and they may be able to freeze repayments and remove late charges.

Do I Need Security or Collateral To Be Approved?

This will depend on your credit score and also the amount you are looking to borrow. If you are looking to borrow a very large amount, you may need to use some kind of security e.g a car or valuable item as collateral. If you have a very bad credit score, you may need collateral to be approved, but Pheabs is pleased to offer both secured and unsecured loan options for its customers.

Can I Get a Loan If I Have Been Declined Before?

Yes, you can still get a loan if you have been declined elsewhere. US lenders are always changing their criteria based on their risk appetites and funding levels — so even if you have been declined before, this can certainly change. At Pheabs, we work with a huge market of loan providers who can help, taking all credit histories into consideration.

What Are The Alternatives To Bad Credit Loans?

In addition to bad credit loans, you can always consider borrowing money from family and friends since this will usually be interest-free and not subject to any credit checks. You can also consider your local bank or credit union, who may take a different view if you are a member. Plus, there is always the option to sell old things online or at a garage sale and you could bring in a few hundred dollars if you need to!

Can I Get a Loan with Bad Credit?

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