Best US Loans for Bad Credit - October 2023

Millions of Americans cannot get a loan due to their low credit score. Be it poor or fair, it’s a real challenge to borrow money when you’ve been labeled as a “bad credit borrower” - but our recommended lenders are willing to bring you a chance with their loans for bad credit instant approval.

Now you can borrow the money you need easily, even with the worst possible credit score or no credit score at all. Because our recommended lenders offer the highest approval rate for all types of customers, and since they approve applications instantly, you will get the money the same day.

Come with us to check our ranking so you can apply for your loan now.

List of the 7 Loans Best Loans for Bad Credit

Here you have our top picks so you can apply for your loan with instant approval now:

Now you can choose the ideal loan for your case, be it fastest disbursement, lowest interest rate or highest approval rate for unemployed customers. Just click on the name of your favorite lender to fill out the application form and receive your loan money as soon as possible.

In case you want to explore more about each lender to find out which one will be the best choice for your own needs and expectations, then we invite you to read our individual reviews. We will review the pros, cons and exclusive details about each bad credit loan lender.

1. Fast Money Source: Best Bad Credit Loans 

Fast Money Source

From all the lenders and brokers we reviewed, Fast Money Source has remained as the best choice for loans for bad credit with instant approval thanks to their competitive interest rate, low fees, instant approval, fast disbursement and the possibility to borrow up to $50,000 easily.


  • Instant approval
  • Fast disbursement
  • Low interest rate and fees
  • High approval rate for bad credit and extremely bad credit customers
  • High approval rate for low income and unemployed borrowers
  • Easily borrow up to $50,000 for any type of purpose
  • Get access to better loans once you become a regular client


  • Currently not available in all states
  • Approval is not guaranteed

Key Insights

This company focuses mainly on your income source and debt to income ratio, and it uses fair standards that allow it to offer a high approval rate for all types of bad credit customers. And thanks to their massive liquidity and strong presence in the market, they can offer competitive interest rates and a fast disbursement any day of the week.

2. Fast Loans Group: Fastest Disbursement

Fast Loans

Fast Loans Group is the Formula 1 from this ranking because they offer instant approval and the fastest disbursement in 2023. Especially made for bad credit customers that need money yesterday, this lender is ready to disburse the money you need in record time.


  • Fastest disbursement
  • Instant approval
  • High approval rate for bad credit customers
  • Quick application process
  • Competitive interest rate
  • Exclusive benefits for regular borrowers


Customer support service needs improvement
Not available in all states


Key Insights

Considered a rising star in the industry of bad credit loans, Fast Loans Group offers more benefits in addition to their lightning-fast disbursement process, such as one of the lowest interest rates for bad credit borrowers and a high approval rate for low income and unemployed customers (who also have bad credit).

3. Credit Clock: Available 24/7

Credit Clock

Famous for its exceptional reliability, Credit Clock is the company to call when you need an urgent loan at 3 AM. Along with its instant approval and fast disbursement, this lender can bring you the money you need even if you have a very low credit score.

  • Available 24/7 and holidays
  • Fast disbursement
  • Instant approval
  • Competitive interest rate
  • Easily borrow up to $5,000 USD
  • High approval rate for bad credit

  • Average approval rate for low income borrowers
  • Not available in all states

Key Insights

When it comes to disbursement speed, it is a close competitor to Fast Loans Group, and in regards to their interest rates and fees, they are fair and reasonable. It’s a solid choice by all means, especially if you are unemployed or have a solid income source - because this will skyrocket your chances of getting approved instantly.


4. Cheapest Bad Credit Loans

If you want to borrow more than just $100-200, then the interest rate will become a serious matter, especially if you want to borrow $3,000 to $5,000 USD. Thus is here to bring you the best deal: a loan for bad credit with instant approval and the lowest interest rate in the market.


  • Lowest interest rates and fees
  • Thousands of direct lenders available
  • Instant approval
  • Timely disbursement
  • High approval rate for all types of bad credit customers
  • Efficient customer support service


  • Not available in all states
  • Conditions will vary depending on the direct lender

Key Insights makes it possible to bring the cheapest bad credit loans thanks to their extensive network of direct lenders, which are known for charging the most competitive interest rates in this segment of the industry. Even though they can take a while to disburse the money, it’s a solid choice by all means if your main focus is to shop for the lowest interest rate and fees.


5. Big Buck Loans: Best for Extremely Bad Credit

Big Bucks Loan

There is bad credit, and then there is extremely bad credit, or even worse, no credit at all because there’s not enough data, bringing you a score of 0 points. Both scenarios mean that your applications will be rejected the majority of times, but Big Buck Loans is here to make a difference because they offer the highest approval rate for customers with extremely bad credit.


  • Highest approval rate for extremely bad credit
  • High approval rate for low income borrowers
  • Accepts customers with limited credit history
  • Instant approval
  • Fast disbursement
  • Use the money as you wish


  • Higher fees and interest rate
  • Not available in all states

Key Insights

Big Buck Loans could be your unique chance to get a loan when you have a very low credit score, and despite their higher interest rate it remains as a solid option, especially since you can borrow up to $5,000 USD easily.

6. Low Credit Finance: Best for Low Income Borrowers

Low Credit

Bad credit and low income (or being unemployed) will be a molotov bomb to your chances of getting approved by banks or traditional financial institutions when you need a loan. And this is even the case for bad credit lenders, but Low Credit Finance is a completely different type of company, because they specialize in bringing loans to bad credit customers with low income or who are currently unemployed.


  • Highest approval rate for low income borrowers
  • Highest approval rate for unemployed customers
  • Easy eligibility requirements
  • Fast disbursement
  • Instant approval
  • Convenient payment schedules


  • More expensive loans
  • Not available in all states

Key Insights

Thanks to the low standards they have for income and debt-to-income ratio, it’s easy to get approved even if you have very low income. As long as it can reasonably cover the cost of the loan, then you will stand a high chance at getting approved by this lender.

7. Heart Paydays: Best for Limited Credit History

Heart Paydays

Heart Paydays is one of the best brokers for getting bad credit loans with instant approval, and it’s especially the case if you have a limited credit history. Because their direct lenders work with that type of customers, you can expect to get approved instantly.


  • Accepts customers with bad credit and limited credit history
  • Accepts borrowers with low income or unemployed
  • Competitive interest rate
  • Fast disbursement
  • Instant approval
  • Exceptional customer support service


  • Not available in all states
  • Conditions will vary depending on the direct lender you choose

Key Insights

Because this company has one of the largest networks of direct lenders in the US, you can get a competitive offer in a timely manner, even if you have zero credit history. On top of that, they’re famous for approving loans instantly and disbursing them in just a few hours.

How to Apply for a Loan for Bad Credit Instant Approval

Are you ready to apply for your loan but you don’t know how? Not a problem, just follow these 5 steps and you will be approved instantly:

  • Choose your favorite lender from our ranking
  • Visit their official website by clicking their name
  • Fill out the application form
  • Wait for the instant approval
  • Receive the money in your bank account

It will take you 5 minutes to complete the application process, and since our recommended lenders offer instant approval, you’ll be notified right on the spot. And then the lender will proceed to disburse the money, usually the same day.

How Do Loans for Bad Credit Work?

If you want more details about these loans, especially how they work internally, then here you have all the details you will ever need.

Definition of Bad Credit Loans Instant Approval

It is a loan that allows customers with bad credit (a credit score of less than 580 points that falls in the category of “Poor” or “Fair”) to borrow money easily thanks to their alternative eligibility requirements, instant approval of applications and fast disbursement process.

The most important eligibility requirements will be an income that is enough to cover the cost of the loan, and a debt to income ratio that allows you to repay the loan on time. If you can meet such standards for the amount you want to borrow, then our lenders will glady approve your application.

How Can These Bad Credit Loans Be Approved Instantly?

These loans are some of the fastest in the industry thanks to the advanced application review software that the lenders use. This system does the following:

  • It automatically analyzes the data you’ve supplied
  • The system quickly proceeds to compare it against the data they have
  • The system automatically approves the application if it finds all the information to be true and accurate, and if the applicant meets the lender’s eligibility requirements.

Nowadays some of these lenders even implement Artificial Intelligence (AI) to analyze and process loan applications, making the process even faster. Because as we are going to see, the disbursement process is also quite efficient.

Insights about the Disbursement Process

Even though the approval is instant, the disbursement is not (but this can change once you become a regular client, this way these same lenders can disburse the money instantly). Once you’ve been approved and you’ve signed the contract with the final terms and conditions, this is what will happen:

  • The lender will receive the approved contract
  • They will proceed to disburse the loan money
  • You will receive the money and full details about the payment schedule as well as the available payment methods to repay the loan.

Worry not because our selected lenders are famous for disbursing loans as soon as possible. However, the process can take up to 1 business day in some cases, but once you become a regular client it will become much faster.

Criteria for Choosing the Best Loans for Bad Credit with Instant Approval

If you want to find out how we selected the best bad credit lenders that offer instant approval in 2023, then here you have the factors we took into account.


It’s important to make sure that the lender or broker we are recommending is properly registered in the states they do business in. Therefore, this is our first parade, and once we’ve confirmed that it’s a registered, legal and reputable bad credit loans lender, then we proceed with the rest of our review process.

Approval Speed

For this type of loan, the approval must be instant. This will only be possible if the lender is using high-tech review systems that can analyze, compare and verify data instantly, and this is exactly the type of companies we’ve chosen. You can expect your loan to be approved instantly, so that you can get the money as soon as possible.

Disbursement Speed

The instant approval lenders we recommend also offer a fast disbursement process, so you can receive the money of your loan in record time. As long as you fill out the application form properly and you meet all the eligibility requirements, you can expect to get the money in your bank account in 1 business day or less.

Approval Rate

We are talking about bad credit loans, and thus it’s important for the lenders to offer a high approval rate for customers with bad credit, extremely low credit score, limited credit history and those who are unemployed or have a low income. This is exactly what our lenders offer you, so you can get the money you need.

Application Process

You need a loan fast, and hence our recommended lenders have simplified the application process as much as possible. You can complete it in 5 minutes or less so you can be approved instantly and proceed to receive the money the same day in the majority of cases. 

Interest Rate and Fees

Even though bad credit loans are known for charging a high interest rate and fees, it’s not the case for our recommended lenders. You will only pay a fair interest rate in order to make your bad credit loan as affordable as possible, making it easier for you to manage your finances and repay it on time.

Loan Amounts

We all have different needs, and hence our recommended lenders can bring you anywhere from $100 up to $50,000 USD - so you can cover the costs of any situation timely. And you can get approved for a big loan even if you have bad credit, especially once you become a regular client. 

Payment Schedule

Our recommended lenders will bring you convenient payment schedules to repay the loan at your own rhythm. Be it that you want to pay it back as soon as possible or if you’d like to pay it back over several months (up to 60 months), our lenders will bring you a wide variety of options to meet your exact needs.


Some lenders limit the ways you can use the loan by asking your intrusive questions, but this is not the case with our recommended companies. You can use the money as you wish, making it ideal for a wide variety of scenarios, be it an emergency or simply funding a new business venture.

Eligibility Requirements of a Loan for Bad Credit with Instant Approval

If you want to see if you will qualify for this type of loan, then we’ll talk about the eligibility requirement in this section. So you can find out if you will be able to get this loan or not.

Basic Requirements

For starters, you need the meet the basic requirements of the majority of lenders:

  • You must be at least 18 years old
  • You must be a US citizen or permanent resident
  • You must have an active bank account
  • You must have a valid phone number and email address

In some cases you also will need to name one person as a reference, but it’s not usual for our lenders to request it. If you meet these basic eligibility requirements, then come with us to check the two most important factors that will determine if you qualify: your income and your debt to income ratio.

Income Source

Because the lender won’t take your credit score into account at the hour of approving your application, it will instead focus on your income source in order to gather the answers to the following questions:

  • Is it a verifiable income source?
  • Is it a regular and consistent income source?
  • Does the client’s income cover the cost of the loan?

Your income must be sufficient, verifiable and consistent in order to meet the lender’s standards. Evidently, the level of your income will have to go according to the amount you want to borrow, because it’s easier to cover the cost of a $100 loan than it is to pay for a $5000 bad credit loan.

Therefore, you need to supply with all the necessary documents and details to make it easier for the lender to verify your income source and make sure that it can cover the cost of the loan.

Current Debt

Let’s suppose that you earn $4,000 USD a month (net), your living expenses sum a total of $2,000 USD and you have to use another $1,500 every month to repay pending debt (credit cards and loans). It means that you only have $500 after your expenses and debts, making your debt-to-income ratio way too high, which means that you’re not likely to repay the new loan on time.

It’s way too high because it’s calculated in the following manner:

  • You need to add up all of your monthly expenses including debt, which brings us a total of $3,500 USD per month ($2,000 of living expenses + $1,500 of debt)

  • You need to divide the total of your expenses and debt by your total monthly income, which is a simple operation of $3,500/$4,000  to determine your current debt to income ratio (DTI)

  • The result of the operation brings us an alarming debt-to-income ratio of 87.50% - which is way more than what a regular lender is willing to accept.

Simply put, bad credit loan lenders are looking for customers with a debt-to-income ratio of 20% or less, because it means that they are highly likely to pay back the loan on time. Therefore, if you want to improve your chances of getting approved, then you should try to reduce your debt-to-income ratio.


The most frequently asked questions and their answers may be able to assist you if you need more information about loans for bad credit rapid approval.

Can you get a loan for bad credit with instant approval if you’re unemployed?

Yes, you can get this loan for bad credit if you are unemployed. Our recommended lenders understand the hard time we are living in nowadays, and thus they offer a high approval rate for unemployed and low income borrowers who need a loan urgently. This is especially the case for Low Credit Finance.

How much does it cost to get a bad credit loan with instant approval?

It depends on the interest rate and the fees that will apply to your bad credit loan with instant approval. For example, if the lender will charge you an interest rate of 15% for a loan of $5000 that you will repay over 12 months, then you’ll end up paying back a total of  $5,415.50, from which $5,000 would be the capital and $415.50 the interest.

Are loans for bad credit instant approval legal in the US?

Yes, all of the loans for bad credit with instant approval are legal in the US because they’re issued by registered and reputable financial entities. Be it lending companies or brokers, they all are properly authorized to offer credit products and loans.

Will a loan for bad credit with instant approval hurt my credit score?

No, because our recommended lenders will only perform a soft credit check when evaluating your application for a bad credit loan with instant approval. Unlike other companies that perform hard credit inquiries that will only decrease your credit score even further, our top picks understand your situation.

Can I use loans for bad credit instant approval to build credit?

Yes, you can use these loans to build credit and improve your credit score because the majority of them report to credit bureaus. All you need to do is to pay on time, and if possible, repay your loan a few days before its due date. Such positive behavior will help you to improve your creditworthiness to get better loans in the future.

Are loans for bad credit instant approval also guaranteed approval?

No, they’re approved instantly only if you meet the eligibility requirements, but they’re not guaranteed approval. However, considering how easy it is to meet their eligibility requirements, you will be approved the majority of the time.

Do loans for bad credit with instant approval also offer instant disbursement?

No, because the disbursement process can take up to 1 business day in some cases. However, once you become a regular client of any of our recommended lenders, then they can proceed to disburse the bad credit loans instantly.