Short-Term Payday Loans for Bad Credit: 4 Best Companies For Personal Loans

You can never expect the unexpected. Getting denied a loan when the unexpected occurs because of some bad credit history can make it all the worse. The denial is made all the harder than you find yourself in a financial emergency. Luckily, some companies are ready and willing to help you with such problems. They offer short-term payday loans to anyone, no matter how bad their credit records are.

Although bad credit loans come with high-interest rates, they can be a lifesaver when you need some cash to solve an emergency. And if you pay them on time, they can assist you in improving your credit score. That will, in turn, allow you to request more secured loans with lower interest rates in the future. However, finding a reliable lender can be quite challenging as many lender platforms offer short-term loans for bad credit scores.

We know you are busy. Researching the best lending platforms will take a lot of time. Don’t worry! We’ve already done all the essential background checks. We’ve compiled a list of companies that offer short-term payday loans for bad credit. They are reputable and have distinct features that we will discuss in detail.

Nothing should stop you from getting a loan to foot those bills and emergencies, not even a minimum credit score.

Best Short Term Loans for Bad Credit 2022

  1. MoneyMutual – Overall Best Short Term Payday Loans For Bad Credit
  2. BadCreditLoans – Best for That Bad Credit Score
  3. CashUSA – Best for People with Technology Issues and Poor Credit Scores
  4. PersonalLoans – Best for High Lending Limits

#1. MoneyMutual – Overall Best Short Term Payday Loans For Bad Credit

MoneyMutual leads on our list and for a great reason. The company has been in the online lending space for over a decade. Since then, MoneyMutual has helped thousands of individuals overcome their financial hurdles. This company strives to provide affordable short-term payday loans to people with poor credit histories. Thanks to its reliability and excellent services, the company has gained a great reputation.

Requesting a loan on MoneyMutual should be a hassle-free process and shouldn’t take much of your time. The process takes a few minutes to fill the application form. The platform takes the information you provide. After that, they compare your application to the eligibility requirements of its network of payday lenders. Your loan application will be sent to potential lenders ready to help you secure your desired amount.

MoneyMutual doesn’t just let you blindly accept the offer you receive from its lenders. The platform lets you examine what lenders have to offer you and evaluate without accepting the offer. That way, you can make an informed decision on which lender best suits your needs.

One of the best features of MoneyMutual is its policy for quick 24-hours disbursement of the funds. Once you and your lender agree on the loan terms, your lender will wire the money into your bank account. You can receive the cash you need as quickly as possible.

Furthermore, the company doesn’t charge any extra fees or hidden charges when you acquire a loan from any of their lenders. The company fees for facilitating a loan are charged to the lender, not the borrower. So, you don’t have to worry about paying additional money to anyone but your lender.


Flexible Repayment Methods: MoneyMutual is seen as the most generous competitor in the business regarding loan eligibility requirements. This ranking makes it the best possible choice for individuals with bad credit scores. The company offers swift and efficient borrower-lender negotiations. The company collaborates with some of the best and most flexible lenders ready to help you meet your needs.

Quick Processing of Funds: When in need of a short-term loan, you don’t have that much time to spend looking for a reliable online lender. MoneyMutual has already done that for you. Once you submit your application form, the platform will do the rest. Your application will be sent to potential lenders. Offers will start streaming in no time. The process should only take a few minutes. After that, you can find a suitable lender in no time.

Security and Safety: Firstly, the MoneyMutual website is straightforward. The website incorporates a 256-bit encryption technology. It is also monitored around the clock to ensure no breaches to the system.

Eligibility Criteria: MoneyMutual doesn’t have strict eligibility criteria. You only need to be an 18-year-old U.S. citizen, have an income of over $800, and have a valid checking account.


  • Convenient and straightforward monthly payments
  • Strict privacy policy
  • A vast network of online lenders
  • Easy to navigate user interface
  • Simple eligibility criteria


  • Interest rates may vary by lender

⇒ Visit the Official Website of MoneyMutual

#2. BadCreditLoans – Best for That Bad Credit Score


This online financial platform has helped countless individuals over the years. If you need a short-term loan for bad credit, this is one of the best online lender platforms to consider. The company has one of the best pools of lenders willing to help people with bad credit histories.

Filling the loan request form is a free and easy process. Your data is sent to potential lenders on the platform once you meet the platform’s basic requirements. You will start getting loan offers from potential lenders within minutes.

One great feature of this company is that it helps customers calculate the amount of funds they can conveniently repay, including fees and interest. It is a great tool to help you comfortably decide on a loan amount.

This company can help you get a loan amount ranging from $500 to $10,000. These amounts are offered by lenders who offer convenient and flexible repayment options. The repayments periods are between three months to six years. The lenders on this platform offer loans with APRs of 5.99% to 3.99%.

Another feature that we liked on BadCreditLoans is the education section on its website. Here you can find detailed information about loan scams, how you can spot them, and how to stay away from them. The section also has numerous articles that educate people about personal finances and banking.


Wide Range of Services: BadCreditLoans offers more than just loans. The platform takes part in numerous charitable events and activities. Additionally, the company has done a lot of research on how to identify fraudsters. As a result, the company has a Scam Alert feature for free on its site. Additionally, the platform educates customers on managing their funds, applying for a loan, and budgeting their income to ensure they repay their loan as agreed with their lenders.

Convenient Application Process: Using BadCreditLoans’ website is a smooth experience. The website helps customers through the whole application process. Additionally, there is no need to panic if BadCreditLoans cannot find you a suitable lender. There are numerous advertisements on its website for other lenders you can contact directly.

Privacy Policy: This platform uses top-notch encryption technology on its website to safeguard customer information. It is dedicated to maintaining excellent standards on how it handles customer data.

Quick and Easy Approval: If you are struggling with bad credit, hang in there because this platform will have you sorted. Worrying that you might not find a lender who will meet your needs is now a thing of the past. This platform will indeed find you the most reliable lenders. After that, you can compare and find the most suitable for you.


  • Variety of over 100 available lenders
  • Repayment periods from three months to three years, providing flexibility
  • Offers credit restoration services to help improve your credit score
  • Around the clock customer service


  • Requests for a lot of personal information

⇒ Visit the Official Website of BadCreditLoans

#3. CashUSA – Best for People with Technology Issues and Poor Credit Scores


CashUSA may be the solution to your financial emergencies. This platform can help you get that short-term loan you need to cover an unexpected trip, a house emergency that needs a quick repair, or other unforeseen circumstances, even if your credit score is bad.

CashUSA’s loan application method is simple, and its website is very user-friendly. The platform lets you apply for a short-term loan from as little as $500 or the way up to $10,000. These loans have APRs ranging from 5.99% to 335.99% and their repayment period of three to 72 months. A streamlined loan approval procedure results in money being disbursed within one business day.

CashUSA does not just let you apply for a loan. It is very transparent about its lending process. The platform provides you with enough information on how you can evaluate the offers you get from lenders.

Because customer privacy is an integral part of its policy, CashUSA prides itself on its website’s most advanced encryption technology. As a result, you can rest assured that the data you share on their site will be kept safe and will not be accessed by fraudsters.


Simple Repayment Procedure: Lenders on CashUSA have a very smooth loan repayment process. Your lender will automatically deduct funds from your bank account on the due date. However, if there are not enough funds in your account, the lender will contact you to remind you to make your payment. If you don’t have enough funds, you might request your lender for an extension.

Flexible Loan Terms: CashUSA lets you negotiate the terms and conditions of your loan with your lender until you are satisfied that they can meet your needs. The lender will explain everything in detail. These include the specific charges and interest rates, which are quite reasonable. Lenders on this platform will allow for repayment periods ranging from three to six months which is quite flexible.

Instant Funding: CashUSA makes every effort to promptly review and approve your application. You will receive your money within one business day after your request is approved and you have agreed to a particular lender. You can expedite the process by ensuring you have the necessary details in advance.

Simple Eligibility Requirements: Unlike some other lender platforms, CashUSA has partnered with lenders who offer loans to individuals from all walks of life. The eligibility criteria may differ according to the lender’s credit requirements. However, all credit profiles, including bad ones, are accepted. Anyone aged 18 years and is a U.S. citizen or permanent resident can qualify for a loan. Other requirements include having a valid bank account, phone number, email address, and an income of $1,000.


  • Loans tailored to each customer’s situation and history
  • Excellent education center
  • Loans can be repaid in up to 72 months


  • Interest rates are as high as 35.99% for bad credit
  • The maximum loan offered is $10,000

⇒ Visit the Official Website of CashUSA

#4. PersonalLoans – Best for High Lending Limits


PersonalLoans is the last lender platform on our list of best short term loans for bad credit. The platform offers a quick and flexible method of connecting borrowers to lenders. The lenders on this platform offer short-term loans with instant approval to people with bad credit. They can offer loan amounts up to $35,000.

PersonalLoans’ streamlined online process connects customers and potential lenders for free without intrusive advertisements. The loan is available in 24 hours, and the repayment period usually ranges from one month to 72 months. That is, however, subject to the terms and conditions you agree to with your lender.

For a short-term loan application, you need to fill out the application form on the platform`s official website. You will provide your personal and banking information. The information you provide will be sent to an extensive network of lenders. These lenders are willing to offer you a short-term loan. The process only takes a few minutes. Then you are good to go.

PersonalLoans guarantees complete security and protection of customer data. It incorporates an advanced encrypted system on its website so you can fill out the form and share the necessary details without any fear whatsoever.


Third-Party Service: It won’t be the end of the world if you fail to find a suitable lender on Personal Loans. The platform can still connect you with other third-party services to look for a lender. The company shows advertisements on its website, which you can check out to see if you can find a lender. That is an excellent feature, especially for individuals whose credit is far below the minimum credit score requirement.

Loan Amount and Percentage Rate: This lender platform offers generous loan amounts ranging from $1,000 to $35,000 as quickly as one business day. These loans have an annual percentage rate of 5.99% and go up to 35.99%. But the APR will be calculated based on the data you provide. But that depends on what you agree with your lender.

Accommodates Newcomers: If you are new to this online lending business and don’t know how to apply for a loan online, PersonalLoans has covered you. The platform is well reputed for welcoming newcomers. They also take customers through the loan request and repayment process. Customers can learn from a detailed knowledge base as they navigate through the website’s numerous features. So, if you have no idea what APR is or what charges are applied in case of delayed loan repayment, there are informative articles on the website that can answer all your questions.


  • Allow users to compare offers from multiple lenders
  • Easy and convenient loan request process
  • Suitable for short terms loans
  • Offers loans for numerous purposes
  • Well-known for safe and secure transactions


  • Might request a lot of personal information

⇒ Visit the Official Website of PersonalLoans

How We Made This List of Platforms that Offer Short-Term Personal Loans for Bad Credit

Our first step was to draft a list of the most popular platforms that offer short-term loans. As expected, the list was quite extensive due to the saturation of online lenders.

The next step was to separate the good platforms from the shady ones. We went a step further and researched each platform’s efficiency, customer reviews, amounts they offer, fees and interest rates. Eventually, our list was down to only a few platforms that met our stringent standards.

We then dug deeper and narrowed down the list. We did this by scrutinizing each company to single out the best one. Our final list, which you will find later in this article, is well-researched and compiled to perfection to ensure you get the help you need.

What We Looked For

When we were looking to carve our list of online lending platforms, we focused on each platform and its services for the following:

Safety and Transparency: When applying for a loan on these platforms, you will be asked to provide your personal and banking information. As a result, each company needs to guarantee the safety and security of such sensitive data. They also need to be transparent in the services they offer and provide complete disclosure. For that reason, we made sure that each company we included incorporated the latest and most advanced encryption technology. This allows them to keep your information safe from online fraudsters. We read each company’s terms and conditions and their privacy policy to ensure they have robust security on their websites.

Company Reputation: A company’s reputation is crucial, especially when dealing with something as risky as a short-term online loan for bad credit. That is why we dug deeper to learn about each platform’s background to find out about their services and products. We were a bit skeptical about new companies, so we went for companies that had been in the business for a while. These lenders have gained good reputations for providing quality services. Reading customer reviews gave us an idea of what to expect from them. So, our list is made up of genuine platforms as the reviews showed their customers were satisfied with their services.

Repayment Time Frame: Flexibility in the repayment of a loan is an essential asset. This is one factor we couldn’t ignore. Platforms should make sure that the monthly repayment is an amount that is suited for you. If it is too much, that won’t work out for the best.

Cost of the Loan: Short-term loans for bad credit come at a price. However, that price needs to be a reasonable one. Our research included evaluating the cost of securing a loan from each company, including the actual loan, interest rate, penalty for delayed payment, service fee, and more. The lender platforms on our list will not have you digging deeper into your pockets.

Terms and Conditions: We can’t recommend any lender platform without reading the fine print. This holds immense importance. We read through their terms and conditions for every company on our list. That way, we learned about their privacy policy, penalties, and repayment periods, and amounts. When choosing a particular lender, you should make sure that you read and understand their terms and ensure that they match your needs. You don’t want to commit to a platform that doesn’t match your capability. Our list has companies that don’t charge any late fees. The platforms we recommend to you are quite generous as they may allow an additional repayment period before imposing a penalty.

Factors to Consider When Taking a Short-Term Loan for Minimum Credit Score

Short-term loans for bad credit are one of the easiest ways to get money without having to fill that lengthy paperwork. When looking for an online loan for bad credit, there are a couple of factors that need to be considered. If you want to work with a reliable and trustworthy online lender, then you must consider the following factors:

When applying for a short-term loan with bad credit, you will be asked for a great deal of your personal and baking information. That is why you need to commit to companies with a strict privacy policy that guarantees the safety and security of any data you share.

Please stay away from any lender platform that does not have strict guidelines when it comes to protecting customer data. Make sure you go through each company’s privacy policy to ensure they guarantee the safety of the information you provide. That is crucial even if the platform promises not to misuse your data. Its security measures might not be robust enough to prevent an information leak.

You need to work with a lender company or lender who has kept their clients happy and lived up to their expectations. The reputation of any lender platform should be a top consideration when applying for any online loan. These lender platforms will require that you send them your personal and banking information. This kind of information should be kept safe by all means because it’s so sensitive.

The internet is filled with fraudsters, and if they gain access to such information, it can result in a lot of damage. Therefore, do your research and make sure the lender you choose to work with has been in the business for a while and has a proven record of offering reliable and transparent services.

Another critical factor you need to consider is whether your lender offers flexibility in their loan’s terms and conditions, especially if you have bad credit. Finding a lender who will provide you with a short-term loan for bad credit might be challenging.

That’s why you need to check if the lenders on the lender platform you choose have lenders willing to offer short-term loans to people with bad credit. Moreover, before deciding to work with a particular lender, make sure you check and compare several interest rates and loan terms on the offer you receive. That way, it will be easier for you to narrow down your loan options, and you will be able to choose one that best suits your needs.

When you have a financial emergency, you will need cash as quickly as possible, and these funds for short-term loans need to get to your account as soon as possible. As a result, you need to evaluate whether the lender platforms you work with as a proven track record of providing quick funds.

The platforms we include in this article will help you secure a loan as quickly as possible. So, if the amount of time it takes for the funds to get to your account is significant, all four lender platforms will ensure you have your funds within one business day.

Another crucial factor to take into account before committing to a particular lender platform is its transparency in its operations. It will help if you exercise extreme caution here, especially when dealing with money and online transactions.

A lender platform needs to come out clean about its services and products. If a platform is not transparent, you may end up incurring additional charges that you have no idea about. The company might also fail to secure your data adequately.

As a result, we urge you to stay away from lender platforms that do not come clear about their operations, even if they promise to offer you quick short-term loans for bad credit. As such, ensure the platform you opt for clearly discloses its fees and the term and conditions of its loan.

Loans on Minimum Credit Score: FAQs

Q1. Can I apply for a short-term loan for bad credit and get the money on the same day?

Any emergency that leaves you in dire financial straits doesn’t allow you time to look for money. Sometimes, your financial emergency can be so bad that you might need funds quickly, even with a bad credit history.

However, the good news is that numerous lenders are willing to offer you a short-term loan for bad credit and instant approval. Most lenders on these websites are willing to offer you a loan within 24 hours to ensure that you can solve your financial situation.

Q2. In what way can I make sure that my credit score rises?

A lender will generally check your credit history to gauge your financial responsibility and evaluate your capability of repaying your loan. So, before awarding you a loan, a lender will most likely consider your previous and current financial situation.

So, if you want to raise your minimum credit score, the best option is to focus on your current financial situation quickly. That means making sure that you repay any existing debts you may have without any delays.

Q3. How long will it take to repay a short-term loan for bad credit?

You will be required to repay the loan according to the agreement you have with your lender. Most repayment periods vary. They can range from one month to six months or up to 72 months. When agreeing to a particular offer or lender, you need to make sure that the repayment period on the loan is comfortable and convenient for you. As such, you will not have to strain when repaying your loan.

Q4. Is a guarantor required to qualify for a short-term loan for bad credit?

No! Even if your credit score is bad, you will not need a guarantor or collateral for secured loan amount. The lender platforms on this list are willing to offer you a loan as you meet their eligibility criteria. You need to have a certain amount of income, provide your bank account details, and a little bit of your personal information. You can always secure a loan even if you’ve low credit scores.

Conclusion: Personal Loans For Bad Credit

That finalizes the article on short-term loans for bad credit. We hope that you’re feeling much better now that you know you have a way to solve your financial emergency, even if you have a bad credit score. These short-term loans come with high-interest rates. That’s the problem with bad credit. Therefore you should request only the amount you believe you can repay conveniently.

Moreover, make sure that your payments are on-time. Also, make sure you carefully read the terms and conditions of your loan. The consequences of making delayed or skipped payments can be lethal, or, worse, failing to repay your loan will hurt your credit score more. As a result, acquiring another loan will be more difficult.

The lender platforms discussed in this article offer the best short-term loans for bad credit with instant and guaranteed approval in the business. They have a proven record of helping people in times of need, thanks to their vast network of lenders.

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