Each of us needs money desperately sometimes, and you can never be completely sure it won’t happen to you one day. Some people need emergency cash to cover their daily basics till their next paycheck. Others consider quick loans to make a big purchase they can’t afford without additional financing. But getting personal cash advance loans may be a problem sometimes. Thus, people with poor credit usually face some problems when it comes to obtaining unsecured loans from a bank or a credit union. Moreover, even if you meet all the requirements, you have to wait some time until a traditional lender checks your details and makes a loan decision. So what should you do if you need cash now?

Luckily, there are several options for borrowers with poor credit scores or those who need instant money today. Many online lenders offer various short-term loans for bad credit that are available within a business day. If you’re in need of a payday loan or a payday alternative loan for a longer term, here are top-3 companies that offer suitable loan options.

The Best Personal Loans for Bad Credit

Here are lending companies that provide competitive personal loans on any occasion. They can offer you both a short-term and a long-term financial solution, depending on your current needs. When making this rating of companies, we paid attention to a lender’s reputation and trustworthiness according to the borrowers’ experience. We also considered interest rates, maximum loan amounts, and loan terms they offer.

  • 1FirstCashAdvance–a matching service with a full range of bad credit options from direct lenders only;
  • Same Day Loan Co.–a connecting company that matches applicants with reliable direct lenders and offers competitive rates on bad credit products;
  • ASAP Finance–a connecting service that offers payday and installment loans for borrowers with bad credit scores.


1FirstCashAdvance is a lending company that connects people throughout the US with trusted direct lenders. They offer both online and offline application processes and are known for their bad credit options at competitive rates. Some borrowers also use their services because of the same-day funding option that is available for those who apply and get approved before 10:30 AM.

Applying with 1FirstCashAdvance, you can get from $100 to $5,000. It allows you to repay the money either in one lump sum by your next paycheck (for online payday loans) or in equal monthly installments within up to 60 months (for personal installment loans). The application process is typically very simple and takes about 5 minutes to complete. Once you submit a loan request form, the company shares your application details with direct payday lenders through a secured connection. As lenders they’re working with usually don’t perform hard credit checks, they check your details within less than 15 minutes and send you a loan decision by email. If approved, you can access the money in your checking account as soon as the next working day.

Am I Eligible?

You’re welcome to apply if you:

  • Over 18 years old;
  • A permanent resident of the US;
  • Can verify your steady monthly income;
  • Have an active bank account;
  • Have a valid ID, email, and US mobile phone number.


  • Easy application process available online;
  • Flexible terms of up to 60 months;
  • Free service with no origination fees;
  • Consider any credit score;
  • Simple requirements;
  • Fast money deposit in less than 24 hours;
  • No collateral backing;
  • Direct lenders only.


  • High interest rates may be offered;
  • Can affect your credit score in case of missing payments.

ASAP Finance

ASAP Finance is a connecting service created to help people find the right loan option from an online lender. You don’t have to waste your time comparing different offers and trying to figure out which lender is better. After applying, the company shares your details with their huge base of reputable lenders. The one that can help you and meet your expectations checks your details shortly after submitting the form and sends you a guaranteed loan decision.

ASAP Finance works with direct lenders that offer same-day loans for bad credit borrowers across the US. They also set no restrictions on a loan purpose, so you can get from $100 to $5,000 and cover any unexpected expenses or financial emergencies that arise on your way. The loan products it offers are pretty popular due to competitive interest rates and fast money transfers. It is also a 100% free service that takes no origination fees or additional charges for doing business with them.

Am I Eligible?

Get the money you need within a business day if you meet these requirements:

  • No borrowers under 18 years old;
  • Have an active bank or savings account;
  • Prove your income is enough to repay the loan;
  • Permanent resident if the US with a valid government-issued ID;
  • Have an active email and US phone number.


  • The service doesn’t take any origination fee;
  • Easy to apply;
  • No unnecessary paperwork;
  • Fast money transfer within a business day;
  • Loan terms of up to 60 months;
  • Guaranteed loan decision within 15 minutes.


  • An interest rate may be high;
  • Some lenders may perform a hard credit check.

Same Day Loan Co.

Same Day Loan Co. is a matching service that offers online loans at fixed interest rates from direct loan providers. Applying with it, you can obtain from  $200 to $5,000 and use the loan amount for any personal needs. In most cases, any direct lender that works with Same Day Loan Co. performs only a soft credit check, so you’re welcome to solve your money problems even with a poor credit score without any records in your credit report

The company offers guaranteed loans, which means you will get a guaranteed decision within 15 minutes after submitting your loan application form. Getting a bad credit loan with Same Day Loan Co. is typically very easy. They have a 24/7 online application that makes the process convenient and accessible at any moment you may need some extra cash. Generally, you will get a direct deposit to your bank account within one business day.

Am I Eligible?

Any adult can apply for bad credit loans if they meet the following requirements:

  • Reach at least the age of 18;
  • A permanent US resident or citizen;
  • Having a valid ID and Social Security Number is mandatory;
  • Can provide a lender with contact and personal data (including email and cell phone number);
  • Have an active checking account.


  • Available with any credit history;
  • Fast loan approval and money transfer;
  • No hard credit checks through major credit bureaus;
  • Easy-to-meet eligibility criteria;
  • Offer unsecured loans;
  • Convenient payment plans on any occasion.


  • Expensive borrowing option;
  • May require a hard credit inquiry in some states.

What Are Personal Same-Day Loans Bad Credit?

Personal same-day loans are emergency cash advances that are available even with a low credit score. These loans were created to help people with some credit issues overcome their financial emergencies. Bad credit personal loans may have either short repayment terms that can’t exceed 30 days or a long repayment period of up to 60 months. There are the following types of bad credit cash advances:

  • Payday loans. Payday loans are short-term financial solutions that offer loan amounts from $100 to $1,000 with one lump sum repayment by your next paycheck;
  • Installment loans. An installment loan is a payday loan alternative with repayment terms of up to 24 months. An installment loan allows you to borrow up to $5,000;
  • Personal bad credit loans. These loans offer a loan amount of up to $5,000 with a longer repayment period that may reach 60 months.

As most online lenders don’t pay attention to applicants’ credit record details, personal installment loans are very popular with borrowers with less-than-perfect credit scores. Moreover, applying for bad credit loans doesn’t hurt your credit rating, so you can use them gently while trying to improve your credit history.

However, emergency same-day loans may be quite expensive. Sometimes an APR on such a loan may be over 400%. Thus, personal installment loans for bad credit are not an everyday solution on any occasion.

Can I Get a Personal Loan With a Bad Credit Score?

Sure, you can! Personal same-day loans were created to help people regardless of their credit scores. Personal loan lenders usually ignore your past debt issues. They are more likely to check your debt-to-income ratio and pay attention to your ability to repay the money on time. Thus, if you meet some income, age, and document requirements, you’re welcome to apply for a bad credit personal loan.

What Can I Use a Personal Installment Loan for?

Online lenders usually have no limits when it comes to a loan purpose. You can use the funds to cover any personal needs. However, as urgent loans may be expensive due to a high interest rate, most people use them only in case of some emergency expenses. Here are the most popular reasons for getting payday loans or online installment loans:

  • Covering medical bills;
  • Paying off a credit card debt;
  • Debt consolidation;
  • Covering utilities;
  • Paying for some daily basics.

Alternatives to Bad Credit Loans

Before applying for online loans, consider some alternative financing options. Sometimes it may help you find a more suitable offer.

Traditional Loans

Loans from a bank or a credit union typically have better loan conditions. They offer lower rates and flexible terms but always have minimum credit score requirements. Moreover, a bank or a credit union will check your credit history through major credit reporting bureaus. It not only affects your credit score but also requires you to wait for a couple of days or weeks to get a loan decision. Thus, personal loans from traditional financial institutions may be your option if you have a good credit score and don’t need money desperately.

Credit Cards

Credit card cash advances are one of the most popular loan options. They may suit your needs if you want to build or improve your credit if you make your payments on time. Credit cards give you access to the funds whenever you need them within the credit limits set by a credit card issuer. Some credit cards also offer a limited grace period that allows you to use money without paying any fees. However, if you will not be able to repay your balance within the interest-free period, you may face high interest rates and monthly payments.

Title Loans

Title loans are also popular with people who have bad credit. They allow you to borrow money by providing a lender with some of your valuable property as collateral. It is usually a car, but some types of secured loans also use a home or an expensive gadget. A secured loan has lower interest rates as collateral backing carries less risk to a lender. At the same time, title loans carry more risk to you in case of missed payments. For example, if you lose your job and won’t be able to make your monthly payment on time, a lender can repossess or sell your property.

What to Pay Attention to When Choosing Unsecured Personal Loans

The first thing you should consider before obtaining debt is whether you really need a loan. You should borrow money with caution, avoid unnecessary spending, and don’t overuse emergency loans. If borrowing money is your only option, then you should find the right loan offer that meets your situation.

The best personal installment loan is the one with convenient repayment terms, a suitable maximum loan amount, a low interest rate, and a fast money deposit. However, sometimes people with bad credit can’t count on all these options at once. Nevertheless, you should shop around for a better offer before obtaining a loan. Choose the lender that has no or low origination fee, considers bad credit borrowers, offers fair interest rates and provides fast money transfers.

You should also pay attention to a lender’s reputation. Read previous borrowers’ reviews to know about all the pitfalls you may face while doing business with a certain lender or lending company. People with any credit issues should also seek credit counseling before obtaining a bad credit loan.

Can I Get Quick Loans Same Day?

Unfortunately, a lender can’t guarantee you will access the money in your account by the end of the same day. In most cases, money will be transferred to you as soon as the next working day. However, some lending companies offer same-day funding for applicants who get loan approval before 10:30 AM on a business day.

How to Apply for Same-Day Loans Online?

Both payday loans and installment loans usually have a simple application process. Here are some common application steps:

  1. Complete a loan application form. Once you decide on a lender, fill out and submit a loan request form on a website or in a store. It usually takes no more than 10 minutes
  2. Wait for a loan decision. A lender that meets your needs will check some of your general details and send you a response within 15 minutes.
  3. Sign a loan contract. Review a loan agreement to make sure the conditions meet your expectations and sign it if everything suits you.
  4. Get a loan amount. The lender will transfer a loan amount to your account as soon as the next business day.
  5. Turn back the funds. You should make a loan payment on the due date specified in the loan agreement. Sometimes you just need to make sure there is enough money in your account so the lender can withdraw it electronically.


Can I Repay the Loan Early?

Everything depends on the particular lender. Some loan providers allow you to pay off the loan earlier, while others may have prepayment penalties.

Are Payday Loans With No Credit Check Real?

Commonly, “no credit check loans” means that a lender will make a soft credit inquiry through some alternative means. It doesn’t affect your credit score, so you’re welcome to solve your problems while rebuilding your financial strength.

Where Can I Get an Installment Loan for Personal Needs?

Whether you need to consolidate debt or cover some daily essentials, you can count on the support of multiple lending companies, including traditional lenders. However, everything depends on many factors, including your credit score. You can contact your bank and ask for available options, consider the companies above, or find an online lender near you on the Internet.

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