Do you need to consolidate high-interest rate credit cards or do you just need emergency cash? Either way, there are options even if you have a bad credit. Many lenders offer loans as high as $40,000, with the most popular amounts ranging between $1,000 and $5,000. Sometimes you can get paid as fast as one day after you submit your application for a loan or even the same day, although the timing varies depending on your lender. The popularity of smaller loans for bad credit is on the rise, and many people are opting for these loans as a means of fulfilling their short-term needs.
For you to secure these loans you should meet the following requirements:
- Own a checking account
- Be above 18 years
- Have a minimum of $1,000 monthly income after taxes
These are applicable to payday, installment and personal loans.
Convenient for Urgent Financial Needs
Payday and installment loans are loans with a near instant decision time, you quickly know if you’re approved or not. Even if you’re working, you might face a sudden financial issues that needs a quick response. These situations may cause you to look for an advance even if your salary is just a few days or weeks ahead.
For instance, if you urgently need to repair your car and you don’t have enough cash, you may be forced to seek a loan. When your needs are pressing, a installment loan might work out perfectly for you. Such loans are quick and convenient, especially when you can’t access credit. Most lenders offer emergency loans online for popular sums like $5,000, so there’s no need to visit any bank or store. Even when you’re unemployed or between jobs, it’s possible to secure a guaranteed loan.
Payday & small installment loans offer benefits including
- Quick acquisition – it’s really simple to secure these loans.
- No hard credit checks from major credit bureaus are required. However, your lender may conduct some checks to verify your income.
- Same day deposits in some cases, most common is next business day deposit.
- Can help your credit score by allowing you to settle your monthly bills in time.
- Common sums to borrow up to $5,000 but might be as high as $10,000.
- Bad credit loans allowed.
- With installment loans, choose a repayment plan that works for you. After you submit your application, your direct lender will present an option. It’s recommended to apply at several sites to compare offers.
Is there anything like $5,000 guaranteed loan approval with no credit check available?
Every now and then we get questions about lenders that can guarantee approval and with no credit check for sums like $5,000. This is simply not possible to guarantee, but the good news is that lenders have wildly different requirements. And some don’t even use hard credit checks, so your credit score won’t be affected by the application itself. With that said if you have problems getting approved for a loan, try to apply at many different loan sites. If denied wait some time, and try again. Just make sure the site doesn’t use hard credit checks, most of the non-personal loans on this site doesn’t do hard credit checks.