- Personal loans from $500 to $35,000
- All credit types are considered and welcome
- Simple, no credit impact form
- Helping consumers since 2001
- 4.7 out of 5 Trustpilot rating with 2,000+ reviews!
- See official site, terms, and details.
I checked the loan network's funding options and filled out the application to see if bad credit borrowers can benefit.
By: Choncé Maddox
Editor: Jon McDonald
Reviewer: Ashley Fricker
Disclosure: When you apply through links on our site, we often earn referral fees from partners. For more info, see our ad disclosure and review policy.
A personal loan is a nice option to have when you need money fast. But if you have bad credit (or maybe you prefer credit-challenged), getting the money you need can be challenging — and expensive.
I’ve seen friends and relatives consider payday loans when they were in a tough financial spot, but those types of loans can drag you into a debt spiral that takes even more money to get out of. That’s why I always advise against them.
But lenders come in all shapes and sizes, and there are plenty of personal loans (not payday loans) that you can qualify for, even if you have bad credit. 24/7 Lending Group is an online network where you can find lenders that may have more flexible requirements.
If you’ve never used an online lender or loan marketplace, I know it can seem a little daunting at first. But don’t worry, online lending is more common these days than you think. And I’ll show you how the convenience and speed 24/7 Lending Group offers can benefit you in this in-depth review.
I also walk you through the entire lending process, the application, cost, credit requirements, and more. So, if you have questions, I have all of the information you need to decide if this network is right for you before you take the next step.
24/7 Lending Group is not a lender, but as a network, it can connect borrowers with reliable loan offers from different lenders. That means if you struggle to find a loan or meet requirements set by certain banks, you can cast a much wider net.
The website is no-frills and easy to navigate, and it says upfront that most credit types are considered. I also like how the borrowing amount range is clearly shown on the home page, so there’s no question as to how little or how much I can borrow.
I can quickly click “Get Started” at the top to start a loan request (but I’ll cover that more later). The site seems to have one main purpose: to get me into the sign-up process as fast as possible. Personally, I would have liked to see some more information about how their loan process works, who’s in their lender network, and what their general qualifications are upfront.
But I did some digging, so you don’t have to.
User data security appears to be a priority for this site, as I saw that it’s fully encrypted (indicated by a lock icon in the browser or https in the URL). When I navigate to the loan request form, I also see security badges for TrustedSite and RapidSSL, which are great signs.
Their Privacy Policy is also easy to find and clearly outlines what information is shared and what’s kept private. According to 24/7 Lending Group, any sensitive information collected during the loan request process is used to match you with potential loan providers.
It does mention that this info may be shared with third parties, such as credit bureaus or consumer reporting agencies, but only when allowed by you or required by law.
The site’s privacy policy is very long, as you can see in the video above, so if you’re worried about your data (and can understand legalese) feel free to read it all.
Because 24/7 Lending Group shares your information with its network, you may receive calls or texts from lenders after you submit your information. But if you’re used to a lack of options, that could be a good thing.
Just be sure to compare offers if you start getting calls, don’t just accept the first loan proposal you get over the phone.
You can borrow anywhere from $1,000 to $35,000 with 24/7 Lending Group, and most types of debt are allowed for qualification purposes.
Now, if you have bad credit or a mountain of debt, you can expect any offer to be on the lower end of that scale. I don’t want you thinking you’ll qualify for $35,000, because most people probably couldn’t qualify for that through 24/7 Lending Group.
But let’s say you own a successful business, you’re trying to expand, and you really DO need $35,000 (or more). In that case, you might want to consider another lender that offers even higher funding amounts.
I’ve included one of those options below in a handy chart that compares 24/7 Lending Group to some other well-known lenders and networks.
There are no fees to use 24/7 Lending Group and get matched with a loan option, and submitting the request form also won’t result in a hard credit inquiry.
If you choose to move forward with one of the loan options, you’ll need to fill out an official application. At that point, the lender will run a hard credit check, which could have a minimal impact on your score.
As far as the overall loan cost, 24/7 Lending Group doesn’t show any expected APR range for its lenders. I understand that loan terms vary widely, and 24/7 Lending Group is always adding partners, but I’d love to see some of that information listed.
However, the site does include a Personal Loan Calculator where you can estimate your costs. The only downside is that you’ll have to guess the interest rate you may get on the loan. And if you have bad credit, my advice would be to aim high on the APR.
Some individual lenders may disclose rates for good, average, and poor credit. Before you apply, it may be a good idea to look around and get a sense of what to expect based on your finances.
Then you can decide whether the monthly payment fits your budget before filling out the loan request form.
I completed the loan request form on 24/7 Lending Group’s website, and I must say, it was very easy and straightforward. The form was all on one page and had three sections, so it was easy to review all of my information before submitting.
Here are the steps I took:
Editor’s Note: No actual loan was applied for during this review.
I clicked on the “Get Started” button on the homepage, which took me to a form that included three sections. The first section asks for details about me, my residency, and my assets.
I could quickly answer most of these questions off the top of my head without having to dig for extra information.
If you don’t know your credit score, you can estimate it based on your most recent check. But accuracy can impact the offers you get, so 24/7 Lending Group also has a link to a partner site where you can get a free credit score.
I’d suggest avoiding that if you can, because it involves filling out another form with your personal information. Besides, many credit card mobile apps provide you with your credit score for free, so be sure to check those first.
The next section is pretty quick and includes more information that I have memorized.
Four of these options have drop-down menus, and three are “yes or no” questions. It should take about 10-15 seconds to complete ,as long as you know your income.
These answers are perhaps the most important to lenders, because they tell how much I want to borrow, what I need the money for, and how much total credit card debt I have.
When choosing the purpose of the loan, there was a huge drop-down menu with lots of options:
This gives a potential lender a good idea of whether I am spreading myself too thin, or if my priorities might not align with my finances.
For example, if I am requesting $10,000 for a vacation and I have $30,000 in credit card debt, a lender will certainly make some assumptions about my worthiness as a borrower.
Before I hit submit, I also need to agree to all of the terms. These include consent to receive messages, calls, and correspondence from interested lenders, and also that I am at least 18 years old and agree to the company’s privacy policy (which I included earlier).
Once I submit the form, 24/7 Lending Group will process it quickly through its network of credible lenders to gather quotes to present the best loan term options.
At this stage, I could compare quote options with no risk or obligation. One of the perks of using this company is that I don’t have to spend time applying for (and comparing) loans individually.
I’m also not obligated to select a loan if the offer doesn’t meet my needs — or even if I just change my mind.
Since I was only testing the platform out, I did not to move forward with applying for a loan, which would require more information and result in a hard credit inquiry.
According to 24/7 Lending Group, funds could hit your account in less than 24 hours. Remember, a preapproval through 24/7 Lending Group does not guarantee final loan approval, but it’s a step in the right direction.
If you accept a loan quote from a lender, you’ll move forward with the full application process, which involves answering any additional questions to verify your income, debt amounts, and other details to secure the loan.
The time it takes to process the loan can vary depending on the lender you choose, but 24/7 Lending Group says the process can move fast as long as you submit your supporting documentation quickly and everything checks out.
When you get approved for the loan, the funds are delivered directly to your bank account. While 24/7 Lending Group never charges any fees, your lender may.
These fees could include loan processing or origination fees, so it’s important to compare the loan terms thoroughly when you receive offers earlier in the process.
If your loan application is denied, don’t get discouraged. The lender will explain why your application was denied through an adverse action notice. This letter details what factors the lender used in its decision and can give you a blueprint for what you need to do to improve your chances of approval in the future.
You can also try working with a different lender if you received multiple offers after submitting your loan request form through 24/7 Lending Group.
But be wary of any issues that may raise red flags for lenders, whether it’s your credit history, income, or debt amount. Be upfront with yourself about how you can manage those and meet a lender’s qualifications.
If you can’t, it might be better to shore up your finances before choosing another lender and getting another hard credit check — which may result in another denial.
I’ve covered a lot in this review so far, but sometimes it is best to look at the benefits and drawbacks side-by-side in a handy chart. So, here’s a look at some of the biggest pros and cons of 24/7 Lending Group:
While the network is very accessible to people of all credit backgrounds, the lending terms you get may not be. If you receive an offer, make sure to carefully look at the APR and any additional fees to see if the loan fits into your budget.
I really wanted to see how 24/7 Lending Group stacks up against similar networks, so I dove into some others and compared some of their features. Here’s a summary of what I found.
| Feature | 24/7 Lending Group | Upstart | Prosper | LendingTree |
|---|---|---|---|---|
| Network Size | N/A | 100+ | N/A | 300+ |
| Min Credit Score | Varies | 300 | 600 | 580 |
| Loan Range | $1,000 – $35,000 | $1,000 – $75,000 | $2,000 – $50,000 | Up to $50,000 |
| Fees | None | Origination Fee | None | None |
| Turnaround Time | 24 hours (minimum) | 24 hours (minimum) | 24 hours (minimum) | 24 hours (minimum) |
As you can see, some other networks have higher loan amounts, tell you how many lenders they work with, and even have minimum credit score requirements.
That doesn’t mean they publish a list of their partners, however, and 24/7 Lending Group doesn’t keep bad credit borrowers from submitting a loan request.
24/7 Lending Group also does not charge an origination fee, which some other networks do.
I would recommend 24/7 Lending Group if you need a personal loan fast, but don’t qualify with traditional banks or other lenders. The company doesn’t disclose much information upfront, but does provide a calculator and enough information that you can make an informed decision on whether the costs and terms seem reasonable.
Since 24/7 Lending Group partners work with borrowers who have bad credit, I would assume that some of the APRs may be higher, and the loan terms may be less favorable. But that would be the case no matter what lender or network you choose.
If you have bad credit and don’t know where to start, you could use 24/7 Lending Group to gather quotes and see which loan offers you might qualify for, since it doesn’t charge any fees.
However, I’d recommend you carefully read all the information 24/7 Lending Group provides about interest rates and what you can expect. And if you have a moderate amount of credit card debt you want to pay off and a decent score, you may benefit more from a non-loan option, such as a 0% APR balance transfer card.
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