The Five Best Bad Credit Loans for 2015

Some banks offer bad credit loans

Less than perfect credit is never helpful when it comes to apply for an obtaining a loan. In fact, there are many people across the country who are unable to obtain loan because their credit is so bad. Most banks and lenders will not even look at someone who has less than amazing credit, and that’s because the risk is far too big to bother with. Why is this? Lenders look at your credit score to see a number of pieces of information. It might look like a number to you, but to the bank it’s more than that. A low score tells the bank that you have some financial issues. It tells them that you don’t pay your bills on time, at all and that you are unreliable in terms of getting their money back. The development finance loan is what you have to look at when it comes to getting your finances sorted.

Think of it this way; you have a friend that asks you for a loan. You decide that you’re going to consider it and then you look at his credit score. What you see on that report is that he doesn’t pay back his bills on time, that he ignores some of them completely and that he has some serious issues as far as his finances are concerned. Are you going to give him money when you realize that he swears to pay you back, but he never paid anyone else back? The answer is no.

However, some lenders are willing to overlook things like this and make it a priority to offer loans to people with less than perfect credit. The problem with a bad credit loan, however, is that they’re often not worth the hassle. These loans are expensive. They come with high interest rates, excessive fees and they are often offered by predatory lenders looking to keep you in debt as long as possible. If things have took an unexpected turn and you’re in need of some extra cash immediately, some reliable sites like are here to help. When you have no choice and you must apply for a bad credit loan, be careful. We’ve decided to come up with a list of the most promising and the best bad credit loans around so that you can see what’s out there, whether or not you qualify and how you can make sure that you don’t end up further in debt and in more financial trouble than you were before. Read on to see our recommendations for the best bad credit loans for 2015.

Spring Leaf

Though this company only offers loans for those with bad credit in 27 states, they do offer loans to those with an average score of around 599. It’s not bad when you’re desperate for a loan. However, interest rates are high – they begin at 25.5% and get higher depending on your credit report. Loan amounts vary, though they’re not considered very large by any count. This is a company that’s been around for a long time, so they are accredited by BBB, which is always welcome by borrowers.

This is a site that does not specify completely what is expected of you in terms of your credit report. You can have bad credit, but the terms and conditions are only available to those who qualify. The loans are solicited to different lenders, which means that you might be able to get a loan from many sources. This could increase your chances of a better rate, but it does limit the type of information we can make available to you based on the criteria offered by so many different companies.


There are some pros and some cons associated these bad credit loans. The company offers loans to those who have a credit score between 580 and 700, and the limits are quite generous. This is a company that is willing to lend to you without loan origination fees. They are also willing to provide your funds immediately. Additionally, this is a company that is willing to give you as much as $35,000 for as long as 4 years or as short as 1 year. That’s not a bad deal. However, the company does offer higher interest rates – though you have to expect that with a less than stellar credit score – and it also has no accreditation with the BBB because it is a new company.

One Main Financial

It used to be Citi Financial, and it’s been around since 1912, which means it has a stellar reputation. The only issue for those with bad credit is that this is a company that only deals with bad credit on the very high end. This means you will very likely need a minimum credit score of 630 points to even be considered for a loan. That’s not typically a score that many people have when they are searching for bad credit loans, so this one is very limited for those with bad credit. The company does offer both secured and unsecured loans, however, so that’s always welcome. Additionally, you can qualify for a personal loan for as much as $15,000, which is considered quite high. The terms are not clearly listed on the site, so we cannot give you any information as far as interest rates and terms are considered. However, we can tell you that this is a very reputable company with a lot to offer those who have lower credit scores and need a loan to do something personal with.


This is an interesting company that offers peer to peer funding. The company does not typically deal with anyone who has a credit score lower than 600, though, so it’s not for people with really bad credit. The company does offering funding for many, but the interest rates vary. It can be anywhere from 7 to 25% and the loan amounts you qualify for can reach as high as $25,000, which is quite impressive. However, funds take as many as two weeks to be issued and the company is a new one. It’s not yet been accredited by the BBB, which means many borrowers are hesitant to do business with this particular company.

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