- Loans from $500 to $10,000
- Get connected with a lender
- Simple form & quick funding
- Get your money as soon as next the business day, if approved
- See official site, terms, and details.
I found that this online loan marketplace helps borrowers with poor credit quickly match with lenders, but it could mean a higher cost.
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 few years ago, I remember talking with a friend whose car broke down, and the repair bill was more than $1,200. I felt the pain in her voice when she told me what happened. In her case, a $1,200 bill was enough to completely derail her monthly budget (and the following month’s) as she aimed to pay back her credit card after charging it.
But that made me start thinking: What if she didn’t have a credit card, an emergency fund, or a good credit score? Unfortunately, many of us are in that situation, as around 16% of Americans have bad credit, which is a credit score ranging from 300 to 599.
If you are one of the nearly 50 million people in the U.S. who have bad credit and need money quickly, an online loan marketplace like BadCreditLoans.com is worth considering. BadCreditLoans.com can match you with a lender that works with bad credit borrowers, and it doesn’t cost anything to review your options.
I did a deep dive into the service to see how it works, who it’s best for, and I even went through the entire process of signing up. And don’t worry, I documented every detail, so you can see exactly how this platform works before deciding whether to try it out yourself.
BadCreditLoans.com is not a direct lender, meaning the company doesn’t approve loans or issue them. Instead, this company acts as a third-party loan marketplace that matches borrowers with direct lenders.
The company’s website clearly states that it may also be compensated by sharing your information with partners to market their products and services to you.
I like that this was stated upfront, and it makes sense because that’s how the company gets paid (from partners and advertisers offering loans and other financial products). But that also allows BadCreditLoans.com to not charge users a fee to match with a lender.
BadCreditLoans.com works with a wide network of lenders that can let you borrow anywhere from $500 to $10,000. But if the service can’t initially match you with a lender, it will share your information with its extended network to help find a possible match.
This can lead to less searching on your end and expand the options available to you, even if your credit isn’t so great.
I love a company with a name that tells you exactly what it does, and BadCreditLoans.com makes its purpose very clear. It caters to borrowers who have bad credit scores, but I’m guessing WeCaterToBorrowersWithBadCreditScores.com was taken.
So if you’ve had credit issues in the past or simply have a limited credit history, this could be a helpful option to you when you need to borrow money. According to FICO, the most popular credit scoring model, a poor credit score ranges from 300 to 579.
| FICO Score Categories | Score Range |
|---|---|
| Exceptional | 800-850 |
| Very Good | 740-799 |
| Good | 670-739 |
| Fair | 580-669 |
| Poor | Below 580 |
While BadCreditLoans.com doesn’t disclose a minimum credit score requirement to use the service, it’s safe to say that you won’t have to worry about a lender rejecting your loan request solely due to your score like a traditional bank or credit union might.
Instead, its lending network will look at other factors, like your income and any other debts you have, to determine if you can comfortably repay the loan on time.
Just keep in mind that your credit history will also be considered, and even if you’re approved, having a lower credit score often means paying a higher interest rate and/or higher fees.
Unfortunately, that just comes with the territory, and no lender or network can make that reality go away. But if finding a suitable lender and getting approved for a loan is one of your biggest obstacles, BadCreditLoans.com can definitely help.
Overall, funding your loan can be a pretty fast process. BadCreditLoans.com can match you with a lender right away, but that’s where it lets you and the lender to work things out.
You’ll fill out any other information and submit a formal application. Think of this as an application with a bowtie, whereas the BadCreditLoans.com loan request was cocktail or semi-formal attire.
The loan request only results in a soft credit check, but the formal application makes things more real, with a hard inquiry and the possibility of being rejected.
But on the brighter side, if you’re approved and submit all your required documents quickly, your loan can be funded in as little as one business day.
These funds are also deposited into your checking account, so it’s important to provide the correct banking details. Overall, loan funding speed will naturally vary since there are different lenders in this company’s network (each with different processes).
But in most cases, you shouldn’t have to wait several days for an approval decision or to receive your loan funds, which is good news.
I mentioned that BadCreditLoans.com has an extended partner network beyond its lender matching. Well, the company doesn’t want you to leave with nothing, so think of this feature as a backup option.
You don’t need to fill out an extra form or opt in to any services; it just works in the background, if you need it. So, when you fill out the loan request form, BadCreditLoans.com gets to work on matching you with an ideal lender.
Mind you, the loan request form is similar to a prequalification and matches you with a potential lender. It’s not an actual loan application or a guaranteed approval at that point.
If BadCreditLoans.com can’t find a lender that’s best for your situation, it might go to this backup option and recommend other online loan networks to see if you have better luck there.
BadCreditLoans.com may also recommend partners that offer other services you may benefit from, like debt relief, credit repair, or other credit-related products that could help improve your score to increase your chances of getting approved with better terms in the future.
I know most people would use a site like BadCreditLoans.com in the hopes of finding a lender and getting a loan, but these backup options could also help if your timeline is flexible and you’d rather work on improving your credit or trying an alternative option.
You also may find out about new companies and lenders that you’ve never heard of before through their extended network.
One thing to keep in mind when dealing with online loan marketplaces is that the terms, fees, and approved loan amounts can vary — a lot. The rates you may see advertised are just a starting point; your eligibility and the network’s lenders determine the final rate.
That means two borrowers applying through the same platform could receive different offers based on their credit profile, income, location, and debt accounts. BadCreditLoans.com doesn’t offer much information about loan terms and fees. That’s likely because it doesn’t control any of them, they change constantly, and they vary so widely.
But here is some of the information I did find:
Loan amounts range from $500 to $10,000. This isn’t going to pay for a new car, but it should be enough to cover an emergency or fund a large, but necessary, purchase.
You also may want to be careful about using the funds to consolidate other debt. That’s because the APRs on loans like this can run high, and the terms might be shorter than you want.
While it might sound great to consolidate your debts into one 12-month loan, make sure the interest savings are worth it, and you can budget for the monthly payment. Because defaulting on a loan to wipe out your credit card balances is not a wise move.
As with any loan, if you want to borrow more money, you’ll need to qualify for a larger loan amount. That typically includes proving you have the income, after paying your monthly debt, to comfortably repay the loan.
BadCreditLoans.com doesn’t list an APR range for the lenders in its network, so you can’t really pinpoint what interest rate you might pay. But we can read the tea leaves here because BadCreditLoans.com has an example on its website of a loan with a nearly 20% APR.
So hypothetically, if you borrowed $2,000 with a 12-month term at a representative 19.9% APR, your monthly payment would be $185.17. And throughout your loan term, you’d pay a total of $2,222.08, including interest.
Loan rates for poor credit borrowers can range from 25% to 35.99% or more. And the higher your rate, the higher your monthly payment can climb.
If you get approved for a loan, you’ll be able to review the actual loan term, monthly payment, and APR before accepting the offer. It’s always important to review your budget and make sure you can afford the loan payment, and to understand the total cost of the loan before you sign any agreement.
While it’s free to use BadCreditLoans.com and get matched with a lender, some partner lenders may charge fees such as origination fees or loan administration fees.
These costs are often deducted from the loan funds you receive, or they can be factored into your monthly payment, which increases your total borrowing amount.
Since each lender has its own rates and terms, you may or may not pay an origination fee, which usually ranges from 3% to 5% of the loan amount.
So if you take out a $3,000 loan and have a 5% origination fee, you’ll pay an extra $150.
You should scrutinize each fee the lender charges before signing a loan agreement, including fees like NSF (non-sufficient funds) fees, returned payment fees, late fees, or early repayment fees if they apply.
I wanted to see how easy the loan request process was, so I filled one out myself. The BadCreditLoans.com loan request form is pretty straightforward, but it is always good to get a sneak preview of any roadblocks you might run into.
So, here are all of the steps I saw while filling out the form.
Editor’s Note: No loan request was submitted during this process. This section is for informational purposes only.
There’s a short form right on the home page that has three screens. The first asks me to enter the loan amount I need and click “Get Started. On the next screen, I select a loan reason from a drop-down menu and click “Continue.”
On the last screen, I enter my zip code, the last four digits of my social security number, and my birth date.
After I fill out all of the information, I click the “Continue” button to dive into the loan request process.
The next part form simply asks for my first and last name. I can usually tell how long an application is going to take based on how few questions are on each page.
At this point, the application is trending toward the longer side, but we’ll find out soon enough.
The next part of the form asks for my address. This is to verify my location so BadCreditLoans.com matches me only with lenders that serve my state.
Here, I enter my email address and phone number. But, more importantly, I also consent to having lending partners and marketing partners affiliated with BadCreditLoans.com contact me.
If you’re OK with getting a bunch of competing offers, and maybe a few calls about some other services, keep going.
I select how long I have lived at my current address from a drop-down menu. Then I answer whether I own my home.
Here is where I start providing details about my income sources and employment. If I choose a job as my source of income, I need to enter how long I have been employed and how often I get paid.
If I choose another source of income, such as government or disability benefits, I’ll enter how often I receive those funds.
Then, I answer if I’m in the military, or if I’m the dependent or spouse of someone in the military. This could unlock offers only available to service members and their families.
This section goes a little deeper into my finances, asking for my total monthly income and when my next payday is.
Having a consistent income is important to get approved for any loan.
Here, I enter my employer’s name, phone number, and my job title. This is the last step related to my employment, but there are still a few more screens to get through.
In addition to verifying my financial details, lenders also need to verify my identity to ensure I qualify and that the process is secure. So, I entered my driver’s license number, the state where it was issued, and my Social Security number.
Now, more financial details come into the mix. I answer whether I have a checking or savings account, how I’m paid, and how long I have been with my bank.
These details are important to lenders because they need to know where to deposit my funds and gauge more about my overall financial state.
I see a couple of tips on this page that are important to pass along, including that lenders are more likely to send funds to a checking account than a savings account, and that they prefer accounts with direct deposit to those funded by paper checks.
Since I said I had a checking account, I entered more information on this page, including my routing number and account number. Lenders need this to get funds to me quickly if I’m approved.
You also may see a pop-up screen, as I did, that indicates some lenders in the network may not work with my bank. Just know that that may limit your options a bit, but it’s not worth switching bank accounts.
The next-to-last screen asks for information about my credit score and unsecured debts. This information may be shared with companies that specialize in debt relief or other areas in which I may need help.
It also asks if I own a car that is paid off. If I do, I can also request to see title loan options that would use my car as collateral. Just know that this option is risky, as defaulting could mean you lose your car.
The last step is to check off three boxes. The first two allow me to opt in to receive offers from BadCreditLoans.com‘s extended network or offers from other credit-related companies (as I mentioned in the previous step).
The last box is where I agree to allow the site to share my information and includes links to its privacy policy, terms of service, ad disclosures, and credit authorization pages.
If you want to know exactly what you are authorizing BadCreditLoans.com to do with your information, read these. But, basically, you are allowing the company to spread your info to a wide range of companies that will contact you if you meet their basic criteria for a loan or other service.
And trust me, they won’t hesitate to reach out if you do.
Once you submit the application, BadCreditLoans.com gets to work on matching you with a potential lender. Since I’m not currently looking for a loan, I did not to move forward and get matched with a lender.
But if I did, BadCreditLoans.com would perform a soft credit pull, which wouldn’t impact my credit score. After a few minutes, or seconds in some cases, I’d find out if I matched with a potential lender.
The lender information would appear on the screen and be emailed to you so you can keep track of the offer details.
BadCreditLoans.com is simple to use if you’re searching for a loan, but it may not be the best option for everyone. Using this website only makes sense for certain types of borrowers.
Just understand that these loans tend to come with higher fees and interest rates. You may not want to borrow more than you truly need, and it’s important to have a realistic repayment plan in place before accepting a loan.
If you need emergency money quickly and don’t have a high enough credit score to qualify for a loan with a bank or direct online lender, BadCreditLoans.com could be a reasonable option.
Some of the loans found through BadCreditLoans.com could create a cycle where borrowers take out smaller, short-term loans to cover emergencies, then find themselves needing to borrow again once the repayment term ends.
It’s also worth adding that if you’re already struggling to make payments on other debts, or if you’re looking for a long-term loan for debt consolidation, for example, BadCreditLoans.com likely wouldn’t be the best option.
Once you submit the loan request form, you’re often immediately redirected to a third-party lender to see the loan offer. If BadCreditLoans.com was unable to match you with a lender, though, you may receive information about other partners for services such as debt relief, credit repair, or even credit-building tools.
You’re not required to use any of these options, but they could be helpful if you aren’t offered a loan and want to work on improving your credit as a next step.
| Application Status | Immediate Result | Request feedback from the lender |
|---|---|---|
| Approved | Loan process moves forward | Review and sign the contract |
| Denied | Hard inquiry hits report, but no funding hits your account | Request feedback from lender |
| Pending | Application under review | Continue checking other options |
There’s also the possibility that you’ll match with a lender on the platform but not be approved for the loan itself. This could happen if your financial situation changes suddenly or if the lender can’t verify your information.
If this does happen, it’s not a reason to stop your loan search. Yes, you’ll have a hard credit inquiry added to your credit report, but you can ask the lender to disclose why you were denied and any steps you should take to improve your standing for the next time.
Another option is to consider using a different loan marketplace or try to get preapproved with a direct lender if you meet the minimum eligibility requirements for a loan.
Using an online loan marketplace definitely comes with some trade-offs. Before deciding whether BadCreditLoans.com is a good fit for you, here are some pros and cons to consider:
On one hand, you can potentially match with a variety of lenders after only filling out a single loan request form. This is one of the biggest highlights, in my opinion.
But on the other hand, you don’t really know upfront how good those offers will be or what the fees and loan rates will be.
BadCreditLoans.com is in a crowded market of other loan networks and financial services, so it’s important to compare it with those options to see how it stacks up against competitors.
I laid out some of the features of BadCreditLoans.com, along with other options such as CashUSA.com, Upstart, and Avant, in this handy chart:
| Feature | BadCreditLoans.com | CashUSA.com | Upstart | Avant |
|---|---|---|---|---|
| Min Credit Score | Varies (Not disclosed) | Varies (Not disclosed) | 300 | 550 |
| Loan Range | $500 to $10,000 | $500 – $10,000 | $1,000 – $75,000 | $2,000 – $35,000 |
| Max APR | 35.99%+ depending on lender | 5.99% – 35.99% | 6.2% – 35.99% | 9.95% – 35.99% |
| Turnaround Time | One business day | One business day | One business day | One business day |
Each of these online loan options can help borrowers with lower credit scores, and it looks like Upstart offers the highest borrowing amount by far. CashUSA offers a low starting APR to qualified borrowers.
Otherwise, the interest rates on loans can get pretty high with all of these companies.
Speed is another factor these options have in common, as you can get your loan funded pretty quickly once it’s approved and the lender has your banking details.
The one thing I’d watch out for is hidden fees. According to Upstart’s website, the origination fee can be as high as 7.25% or more. Fees like this could make or break your decision to use a particular lender.
After digging into how this platform works, I think BadCreditLoans.com is best for borrowers in a tough financial spot who need to quickly explore realistic loan options. It’s not an ideal long-term borrowing situation, but it could help you out if you need money fast, and it’s likely you won’t qualify for a loan with a traditional lender.
Aside from potentially receiving marketing calls and emails from lenders and financial services (regardless of whether you actually take out a loan), the main tradeoff is the cost. You should expect higher APRs, lender fees, and less generous loan terms since you don’t know which lender you might be matched with.
I’d encourage anyone to compare all available options first, including bank loans, local assistance programs, employer hardship resources, nonprofit financial counseling, or 0% APR credit card options, before committing to a high-interest loan.
But as I mentioned earlier in the article, BadCreditLoans.comm is a company with a name that tells you everything you need to know. And sometimes, that kind of relatable transparency is exactly what you need.
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