Small Loans for Bad Credit

Small loans for bad credit are not as difficult to obtain as you might think. Whether you need a small loan for a financial emergency, such as a car or home repair, or you just need a little extra cash until your next paycheck, small loans are one option for consumers in a variety of financial situations to consider. If you have bad credit, it is not easy to get a personal loan, but Personal Money Network may have some options for you.

Small Bad Credit Loans are Possible

The lenders working with Personal Money Network work in smaller dollar amounts of $1,000.00 or less. Working with small loans, for bad credit consumers, means that that these lenders are able to be more flexible with who they lend money to than a traditional lender might be. This allows them to extend credit to high risk borrowers, because they have less to lose. This can be helpful to borrowers with bad credit, poor credit or even no credit because bad credit loans are available to a wider variety of individuals for these and other reasons. To find out if you qualify for small loans for bad credit, simply fill out our innovative application and request a loan from multiple lenders working with Personal Money Network at once.

How do I get a personal loan?

Requesting small loans for bad credit is easy with Personal Money Network. Simply fill out our easy to use online form. It takes only three to five minutes to complete. Once you have verified that all of the information you have provided is accurate to the best of your knowledge, submit the form and wait to receive an approval. Personal Money Network submits your application to the lenders working with us for their review. This increases your chances of receiving an approval over making your request with one lender at a time. Once you receive an approval, you will be sent to a page where you can review your contract. You should read your contract carefully and be sure to read through any fine print. You will also find the contact information for your lender with your contract. If you have any questions about your contract or the loan you have been approved for, contact your lender before you sign the contract.

How can I get better credit so I can qualify for small loans?

The easiest way to get better credit is simply to pay your bills on time, that way when you do need to request small loans, “for bad credit” won’t be a requirement. It’s also important to make sure that you do not accrue more debt than you can ever repay. There are many budgeting tools available that may help you set and stick to a budget and these kinds of tools can help you track your finances and make sure that your bills are regularly paid on time. Personal loans, if handled appropriately, may be one option for you to consider as long as you are able to pay the loan back within the term of the agreement.

What about payday loans?

A payday loan is a type of loan that is extended by the lender to a borrower for a short period of time. The loan amount is typically $1,000.00 or less and is expected to be repaid on or before your next paycheck. This is why they are called payday loans. Payday loans are one option for borrowers with bad credit because they are small dollar and very short term loans.

No Credit Check Loans

If you have bad credit, no credit check loans may be tempting to seek out. A lot of companies claim to offer no credit check loans, but it’s misleading to make this claim. Every lender performs some type of credit check. Even if all the lender does is verify that you are currently employed, that is a type of credit verification. It’s less invasive than using a credit bureau to do a deep check into your long term credit history, or reviewing your credit score, but it’s still considered a credit check. Many of the lenders working with Personal Money Network are capable of performing these less invasive credit checks which can be useful to borrowers looking for small loans for bad credit.

Installment loans

Installment loans are simply another type of loan product that may be available to you if you qualify. When you receive an approval from a lender, you can contact them directly to determine if installment loans are a good fit for your financial situation. Installment loans are sometimes offered in larger dollar amounts than other types of small loans for bad credit and are offered for a longer term over multiple payments, rather than having to be repaid in a single lump sum. If you think this will work for your small loans for bad credit needs, contact your lender to see if you are approved for an installment loan.