Bad Credit Loans with No Credit Needed!

1 Form. 5 Minutes. 100+ Lenders.

Secure and confidential same day loan handling online for any type of credit history. Although approval can't be guaranteed, we can guarantee that we will do our best to find a lender that's ready to approve your loan, regardless of a bad credit score. You can also call during normal business hours to request a loan by phone! Most loans are processed same day with funding on the next business day. Loan availability and terms may vary.

A better way to get a loan!

Dozens of lenders from throughout the country are competing to offer you a loan. We securely handle your information and find a lender that's ready to give you a loan.
Best of all, it's not an application. When you request a loan through Paydayr, there's no commitment or obligation. You're in control every step of the way.
If you like the offer, all you have to do is accept it and get paid. It's really that easy! If you have any questions, experienced professionals are available to help you by phone, email, or live chat.

Bad Credit Loans

A bad credit loan is a quick and simple way to get extra cash when needed on short notice – specifically, when the loan is needed the same day, or as soon as possible – even with a bad credit history.

What “Guaranteed Approval” Really Means

Guaranteed approval is never truly possible, but payday loans are much more likely to be approved than other types of loans.

There will always be some cases in which a loan request can’t be approved, but payday lenders do offer the next best thing to guaranteed approval.

Many lenders also advertise “No Credit Check Payday Loans”, but it’s important to understand what this really means and how it impacts the application process.

Though some payday loan providers may perform credit checks, these credit checks are based on you’re employment and ability to repay the loan, rather than typical credit agency ratings. So, past credit problems won’t prevent you from getting approved for a same day payday loan.

Payday loans are usually approved without performing a credit check with the major credit reporting bureaus. Instead, data provided by consumer reporting agencies is used to verify things like your employment status and income. This is referred to as a soft credit check, because it doesn’t affect your credit score or appear in your credit history.

Due to a higher cost, these loans should only be used when genuinely necessary, such as in emergency financial situations. Avoiding late bill payments or bank charges is a good use of a payday loan, discretionary spending is not. It’s important to consider all available options, before taking out a payday loan of any kind.

Payday loans are usually issued for a short period of time and repaid after your next paycheck. The payday loan provider charges a flat fee based on the amount of the loan and the time needed to repay it.

Same day payday loans are often the best option, and in some cases the only option, for paying unexpected bills or expenses when money is limited. This kind of financing helps you to avoid costly penalties and fees, that result from late bill payments or overdrawn bank accounts.

For this same reason, payday loans can also benefit credit history, by helping to avoid overdrafts and delinquencies which damage your credit rating. In many cases getting a same day payday loan online is the quickest and most convenient way to make ends meet, until your next paycheck.

How the Payday Loan Approval Process Works

Immediately upon submitting your application, we’ll automatically start looking for a lender. This process can take about 1 to 3 minutes to complete, but in many cases you can get a loan offer almost instantly. Once complete, you’ll know if you’re able to get a loan, and how much money you can borrow.

Once you’re connected with a lender, you’ll be able to review the rates and terms of your loan offer from the lender’s website. You can also call or chat with a representative to discuss any questions you may have about your loan.

Make sure that all of the information provided throughout the process is as accurate as possible, to avoid any delays. Your information is handled securely and confidentially over an encrypted connection. There are no fees to check if a loan is available to you and you’re in no way obligated to take out a loan, once you’re approved.

Shortly after accepting a loan offer, the money is sent by direct deposit to your bank account and is usually available for withdrawal or debit within 24 hours on weekdays, or the next business day on weekends or holidays. The whole process can be completed online without any paperwork or phone calls.

The process of getting connected with a payday lender starts the moment you submit your information. When a lender’s been found, you’ll immediately be presented with the offer on their website. If you find the offer meets your needs, you can accept it and the whole process can be completed the same day.

Every lender has a different set of criteria they’re looking for, and their own set of terms, but a few of the basic requirements include;

  1. A bank account where your money can be direct deposited.
  2. A consistent source of income, like a paycheck or government benefits.
  3. A state-issued photo ID – usually a driver’s license.

Getting a payday loan online is quite easy and money is delivered quickly, but this also comes with a higher than normal interest rate. The APR on a typical same day payday loan can reach as much 500%. Unlike a traditional long-term loan, a payday loan will come with a fixed fee based on the amount of money requested. This fee will be paid on a set date, usually in two weeks, along with the amount borrowed and any other charges that may apply. Lenders will discuss their fees and repayment schedule before a loan is issued.

Payday loans can be taken out for several weeks at a time or even maintained on a continuous basis, but due their relatively high cost, it’s best to repay payday loans as soon as possible.

Getting a Loan with Bad Credit

If you have bad credit, it’s going to be difficult to get a loan, and the loans that you can get are likely going to have high interest rates. Still, when you need a loan, you need to consider all of your options. Start by checking your credit report to make sure there aren’t any mistakes pulling your score down, then think about these types of loans.

Credit Union Loans

Large banks have certain standards when it comes to approving loan applications. If you don’t meet their income or credit score requirements, there’s no wiggle room to get them to change their decision. However, credit unions are smaller and often take the time to get to know their members. If you belong to a credit union, apply for a loan through them. They may look at you as more of an individual than a set of numbers, and this could mean that they’ll approve you because they can see how your current circumstances don’t necessarily match your bad credit score.

Loan with Collateral

The reason that it’s so hard to get a loan when you have bad credit is that banks worry that you won’t be responsible enough to pay them back. If you don’t make your payments, the lender may have no recourse. However, this isn’t true if you offer some type of collateral. For example, when you get an auto loan, your car acts as the collateral. If you default on the loan, the bank will repossess the car and be able to get some of its money back. When you need a loan, ask the bank if there’s anything that could act as collateral to help you get the loan.

Co-Signed Loan

Another alternative is to have someone co-sign the loan for you. In this case, you’re the primary person responsible for the payments, but if you fall behind, the lender will turn to the person who co-signed for you. Typically, you could ask a family member or very close friend to co-sign the loan for you, but not everyone is comfortable with this situation. Additionally, the lender will look into the credit history of the person co-signing to ensure that the person would be able to handle your payment if you don’t.

Unsecured Loans with Bad Credit

In today’s uncertain economic climate, more and more families are finding themselves crunched for cash. For many households, this means turning to short term loans. If you are considering taking out any sort of loan, it’s important to understand the different types of loans and their ramifications.

Most loans involve collateral of some kind. Collateral is a piece of property that secures the loan; if a borrower fails to pay back the loan, the creditor can seize the collateral. The classic example of this is a home mortgage. If a homeowner doesn’t pay their mortgage, the bank takes back (i.e. forecloses on) the home, which functions as the collateral on the loan.

Other loans, however, are uncollateralized. Because there is no piece of property for the lender to seize, these loans are viewed as being much riskier, which generally leads to higher interest rates. If you have a bad credit score, these rates will likely be even higher, or you will be denied completely.

If you find yourself in the position of having bad credit and needed an unsecured loan, it is important to be realistic. It is unlikely that you will get a loan with favorable terms. Instead, look for a loan that will help you get back on your feet, and try to avoid being in the situation of needing an unsecured loan in the first place.

The first thing to consider is that you might be able to get a secured loan with collateral. If the amount of your loan is small, then a variety of possessions might qualify as collateral on your loan. Consider your car or any valuable possession; check with your bank or creditor to see if something you own can qualify as collateral.

If you truly don’t have any collateral, your best option might be to have a co-signer. If you can find a friend or colleague who has a solid credit score, that person can take dual responsibility for your loan. Under this agreement, if you fail to pay back your loan, your co-singer becomes responsible for your payments. This shared responsibility might allow a lender to approve a loan that would otherwise not be possible.

Your final option is probably a payday loan. Payday loans are unsecured loans (meant to last until your next payday) given out by companies that usually specialize in short-term loans. Be careful, however. Many payday loans have exorbitant interest rates, punishing terms, or hidden fees.

All in all, it is best to simply not need an unsecured loan. If you do need one, and you have bad credit, follow the steps above and you are likely to find the best outcome possible.

Getting a loan with bad credit can be tough, but it isn’t impossible. You simply have to think of the ways to convince the lenders that you are worthy and able to pay back the loan within a reasonable time frame.