Emergency loans for bad credit

Where to Find A Quick Personal Loan if You Have Poor Credit

We all run into emergency situations from time to time. Whether it’s a car breaking down, job loss, or a medical emergency, these things can be tough to plan for. Any one of these emergencies could put you in a tough financial situation unless you have a decent amount of money saved and ready to go. If you’re in a situation like this it may feel like there’s no easy answer, but there are solutions out there to help people just like you. 

One option that many people turn to in times like these is a personal loan. But oftentimes getting a personal loan requires you to have a certain income, credit history, or credit score. But what if you’re dealing with a pressing emergency and you need quick cash but don’t have a good credit score? Luckily, there are loans that are suited for subprime borrowers. 

Subprime credit, or “bad credit” means that you have a low credit score. This basically tells lenders that you have a poor history of borrowing. Any time you fail to make a payment on a loan, credit card, mortgage, etc., you’re running the risk of lowering your credit score. This will make it more difficult to get loans in the future, because lenders won’t trust that you’ll be able to repay your loan. 

How Do I Get a Bad Credit Loan?

If you currently have poor credit and you need a loan, there are bad credit loan options available to you. You likely won’t be able to get a bank loan or credit card, but there are other types of loans designed for those with less-than-perfect credit:

Payday Loans

A payday loan is a short-term, unsecured loan designed for borrowers to get a small amount of cash to hold them over to their next payday. Because the loan isn’t secured with any collateral the interest rates are typically higher than an average bank loan or credit card. They can be found online, or at storefront locations. 

Installment Loans

An installment loan is another unsecured loan, but there are several key differences between these and payday loans. Installment loans generally have much lower interest rates than payday loans. They also tend to have a much longer repayment period, ranging from a few weeks up to a couple of years. These loans are a great alternative to more expensive short-term options. 

Title Loans

Title loans are considered to be a risky, short-term, secured loan. To get a title loan you’ll need to offer up the title to your vehicle as collateral. This means that if you aren’t able to repay the loan, the lender is legally allowed to sell your vehicle in order to recoup their loss. These loans still have high interest rates despite the collateral, and they may last up to a couple of years. 

Applying for an Emergency Bad Credit Loan

If you’re currently experiencing an emergency that requires some extra cash, there are a couple of ways to apply for a loan. The easiest and usually quickest way to apply would be online. Many lenders offer online applications, direct deposit funding, and online repayment. There are also many storefront lenders that you can use. But this means physically going to their location, possibly waiting in line, and filling out paperwork in order to apply. 

Whether you apply in person or online, the process will likely be pretty similar. First you’ll need to submit an application. This will involve providing a lot of personal and financial information. Lenders need to know that they can trust each borrower to repay their loans on time. One of the most important factors they’ll review will be your income. Many borrowers will have a minimum monthly income requirement in order to be approved for a loan. If you don’t make enough to meet it, you’ll probably be denied. 

Another aspect of the application process with most lenders is a review of your credit history and credit score. Your credit score is a three-digit number that shows lenders how trustworthy you are when you borrow or use a line of credit. There are a few different companies that track your credit score, but usually the score ranges from about 300 to 850. The higher the score, the more likely you are to be approved for better credit and loan products. 

Once approved, the lender provides you with the agreed upon amount. Many lenders now require you to have direct deposit so they can send the money straight to your bank account. After you get the money, you’ll begin to pay it back on a set date. Just like with receiving the money, many lenders will deduct the payments from your bank account. Once the loan and interest are completely paid off, the loan is over. 

Why Choose CreditNinja?

CreditNinja is here to help if you need a quick, emergency loan. Our loans are designed for borrowers in emergency situations, who have less-than-perfect credit. A personal installment loan from CreditNinja will offer you better rates than payday and title loans, and longer repayment terms so your monthly payments are more manageable. Apply today at, and get your finances back on track.