Finance
5 Free Websites To Get Online Loans Even With Bad Credit
Financial emergencies do not really care if your credit score is good or not. When they happen, they happen indiscriminately, which means that you need to find a way to access the funding you need, one way or another. If you find yourself in such a pickle, there’s good news and bad news.
The good news is that there are numerous online lending services out there that you can use to access loans with bad credit. For instance, you can get quick loans online with CocoLoan. However, the downside is that you will often need to sift through hundreds of options to find the right one that can help you secure the ideal rates and terms since the online lending market is so saturated.
So, we decided to break down the top five sites that you should use today to quickly connect with legitimate lenders that can provide you with the funds you need, no matter what your credit score may be.
1. CocoLoan – 97% approval rates even with bad credit
2. UnityLoan – Good choice for favorable rates and terms
3. Fast Title Loans – Provides lightning-fast loan approval
4. US Title Loans – Access to a broad range of online loan products
5. EasyPaydayLoans – Offers a quick and simple loan application process
If you want to know more about each of these sites, make sure to keep reading as we dive deeper into what makes each one unique and also what the pros and cons of using them are.
Without further ado, let’s jump in!
1. CocoLoan
If you have a bad credit score and need to secure funding, CocoLoan should undoubtedly be your top choice, and for very good reason. The platform boasts an incredible 97% approval rating, which is why it has a hugely positive reputation online for being able to successfully connect borrowers to potential lenders.
The main reason behind this is the fact that their partner lenders will usually look at other factors besides just your credit score when evaluating loan applications. Some of these factors can include; your monthly income, employment status, debt-to-income ratio, etc.
In addition, their eligibility requirements are fairly basic, as all you need to get installment loans on this website is to make sure that you are at least 18 years old, are a US citizen, have a stable source of income, and have an active bank account.
As a result, even bad-credit borrowers have a chance of accessing loans of up to $35,000 with APRs that tend to vary depending on your credit rating and income level. Also, there are no hidden fees or expenses to worry about because the site does not charge borrowers to use their platform.
Benefits
- ● High approval rating
- ● High loan limits
Drawbacks
- ● High-interest rates
2. UnityLoan
UnityLoan is a great choice for anyone looking to secure favorable lending rates and terms for small loans of up to $5,000. Furthermore, their partner lenders are considerate of borrowers with bad credit, so you can rest assured that even with a less-than-stellar credit rating, you can still get a competitive loan offer.
The service is also free and completely accessible 24/7, so you can apply for funding at any time. In addition, all approved loans tend to be processed and deposited by the next business day, which makes this a great choice for those who quickly need cash to deal with a financial emergency.
There are no restrictions on how you can use the money you receive, which means that you can spend it to cover a wide variety of expenses such as car repairs, medical bills, travel expenses, etc.
Plus, the site’s user interface is easy to navigate, and since it utilizes bank-level encryption, you can rest assured that your personal and financial information will always remain confidential.
Benefits
- ● Open to bad credit borrowers
- ● Bank-level data encryption
- ● Accessible 24/7
Drawbacks
- ● Low loan amounts
3. Fast Title Loans
When it comes to speedy loan processing, Fast Title Loans takes the crown. All loan applications filed through its platform are reviewed by advanced automated systems.
As a result, it doesn’t take much more than a few minutes to get a decision on your loan application and get matched with the right lender that is in the best position to provide you with funding.
Borrowers can apply for loans of up to $35,000, with all requests handled within 24 hours. Furthermore, their lending network is accommodating to borrowers with poor credit scores, so you can feel free to submit a loan request no matter what your credit history may be.
Aside from that, the site comes with a simple user interface that any inexperienced user can easily navigate their way to a successful loan application. You also don’t need to submit any lengthy paperwork, either, as it only takes a few basic details to complete the online pre-approval form.
However, do keep in mind that while bad credit is accepted, how much you receive will often be determined by factors such as your income level. In other words, there is no guarantee that you will be approved for the entire loan amount you applied for.
Benefits
- ● Speedy loan processing
- ● User-friendly website
Drawbacks
- ● High-interest rates
- ● No guarantee of approval for the loan amount
4. US Title Loans
US Title Loans’ most appealing quality is the fact that it has a wide lending network that allows it to provide borrowers with access to multiple loan options. And while it focuses mostly on title loans, borrowers can access payday loans, title loans, installment loans, personal loans, bad credit loans, and more.
Borrowers can borrow loans that can go as high as $35,000 with APRs that typically vary between 5.99% and 39.7%. The loan application process is fairly quick, and you can expect to get a decision within the same day. Also, their partner lenders are not very stringent with their credit checks, which means that they are open to reviewing loan applications from anyone with bad credit.
On top of that, US Title Loans vets all the loan providers within their network. As such, all the loan offers that you are presented with can be relied on to be fair and reasonable. In addition, all loans are typically disbursed within 24 hours after approval.
Benefits
- ● Wide loan network
- ● Multiple loan options
- ● Vetted lenders
Drawbacks
- ● High-interest rates
5. EasyPaydayLoans
EasyPaydayLoans rounds up the final site on this list, with its best feature being that it has one of the most straightforward loan application processes. It only takes minutes to complete the online form, and their partner lenders don’t usually require lengthy documentation to secure approval.
In addition, all original lending requests are subjected to soft credit checks by their partner lenders. As such, your credit score will not end up taking a hit just because you want to see what your lending options are.
Also, while their lending network mostly specializes in providing payday loans, they have other loan options that you can choose from. Plus, the site makes it easy for borrowers to instantly compare loan offers from multiple lenders, so you can easily secure yourself a competitive deal.
Benefits
- ● Simple loan application process
- ● Soft credit checks
Drawbacks
- ● High-interest rates
Conclusion
While it can often be difficult to find a trustworthy online lender, these five trusted websites can connect you with a reliable loan provider that is willing to approve your loan request, even if you have a history of bad credit. And since they are all free to use, this means that you can explore your loan options without fear of having to make any financial commitment.