Are there loans for people with bad credits? Yes, there are. But the problem is getting is finding the best loan with bad credit. One which clearly outlines its rates, fees, terms and their flexibility, and isn’t concern about your credit score.
Getting a loan isn’t a solution to your financial problems, but solving your debt is. However, when a good loan is used properly it can be the foundation to building your financial stability, improve your budget and increase your credit score. After our study, we found some help for you. We figured out some lenders that offer loans for people with bad credit.
Where can I get along when I have bad credit?
Do you have a bad credit? Then here is a list of lenders that can provide you with loans.
Basically, it claims not to be a lender so as to stand up among its competitors, it connects borrowers with bad credits to a large network of platforms that provide loans to those with bad credit. Here, for you to apply for a loan online, the following must be certified; have a valid email and phone number. Be 18 years or older, prove that you are a citizen or a legal residence of the country, provide proof that you have been employed for over 90 days and have an income of at least a thousand dollars per month, and have a valid checking account.
Here you receive a suggestion of all lender and it is your choice to pick the one to go with. However, it isn’t a must that you choose these loan offers.
Actually, Onemainfinancial.com is one of the best lenders of loans for people with bad credits. Their loans range from $1, 500 to $10, 000 while the APRs range from 25% to 36%. But this will be influenced by your credit profile, meaning you can get higher loans and very low APR. They have availed both secured loans and unsecured loans. They allow you to apply online but they also have more than 1, 800 branches all over the country.
These lenders take into consideration credit scores as low as 600 and have a loan extension of about $25, 000. Their website is well-detailed, with clarified APRs and fees. The greatest disadvantage is that borrowers have to wait for at least 2 weeks for their loans to be processed. And also they aren’t assured of funding. The fee is 5% of the loan offered and its limited to only 37 states.
They have a lending profile that they use to provide loans for people with bad credits directly. Therefore, they are quicker because they aren’t a peer-to-peer lender; funds are issued a day after application. Their fee range from 0.95% to 3.7% and their limit is $35, 000. They have one major disadvantage; they can offer you a loan if your credit score is below 580. Also, they do not offer secured loans presently.