What Is a Personal Loan?
Personal loans can include everything from short-term installment loans to larger debt consolidation loans. With most Little Rock personal loans, borrowers will receive payment in a lump sum and then be responsible for repaying the balance, along with interest and fees, over the course of several weeks or months.
Certain personal installment loans designed for borrowers with poor or no credit history come with perks like fixed monthly payments, competitive rates, and same-day funding delivered directly to your checking account.
What Are the Types of Personal Loans You Can Get?
Different types of personal loans available in Little Rock include bad credit loans, personal loans, and other types of installment loans. Certain types of loans, like payday loans, have strict laws and regulations in Arkansas designed to protect vulnerable borrowers.
Bad Credit Loans
Loans for bad credit are a type of personal loan designed for borrowers with less-than-perfect credit or no credit history. CreditNinja offers bad credit loans specifically for borrowers who are commonly overlooked by traditional banks and lenders. We offer loan amounts up to $5,000 with flexible repayment, affordable installments, and same-day funding.*
Payday Loans
Payday loans online are a type of short-term lending designed to connect borrowers to quick cash while they are in between paychecks. Given their high rates, hidden fees, and predatory lending practices, payday loans are illegal in the state of Arkansas.1
No Credit Check Loans
No credit check loans are loans where lenders forgo the traditional credit check process during approval. However, keep in mind that most lenders will need to confirm your credit history at some point, if just to confirm you aren’t currently going through the bankruptcy process.
Cash Advance Loans
Cash advance loans are a type of short-term loan that usually come with high rates, short repayment terms, and low loan amounts. Given their similarity with payday loans, these types of loans are often illegal in Arkansas as well.
Little Rock Installment Loans
Little Rock residents keep turning to CreditNinja personal loans because they come with great perks like:
- Loan amounts ranging from $300 – $5,000
- Fixed interest rates resulting in affordable monthly payments
- Flexible repayment terms
- No hidden fees or prepayment penalties
- Online loan management for speed and convenience
Little Rock Installment Loan Rates
Little Rock installment loan rates depend on several factors including your credit history and debt-to-income ratio. Repayment terms can also significantly affect how much interest you’ll pay over the course of your loan. Typically, the longer the repayment period the more you will pay in interest.
Can You Get a Bad Credit Loan In Little Rock?
Yes. Borrowers can access bad credit loans in Little Rock with installment loans, bad credit loans, and short-term personal loans. As long as you’re at least 18 years old, have a recurring income, can provide proof of ID, and have an active bank account, you may be able to qualify for a bad credit loan in Little Rock, AR.
What Can You Use An Installment Loan In Little Rock For?
Below are some of the many ways you can utilize a personal installment loan with CreditNinja:
| Home Improvement Use your loan for home repairs, remodels, and improvements. | Credit Card Debt Consolidation Consolidate high interest debt into one easy monthly payment. | Medical Costs Cover medical costs and bills. |
| Car Repairs Take care of car maintenance and repairs so you can get back on the road. | Life Events Pay for unexpected family emergencies, expenses, and more. | Other Emergency Expenses Pop-up bills, accidents, unexpected expenses, etc. |
How Little Rock Loan Options Work
Here’s a breakdown of how funding for a CreditNinja personal loan works:
| Apply Online Fast & Easy Apply online and receive an approval decision in minutes.* | Income Verification We’ll use IBV to confirm your income. | Same-Day Availability Upon approval, expect funds in your bank account the same-day.* |
Top Little Rock Loan FAQs
What is an installment loan?
An installment loan is a type of personal loan where borrowers receive a lump sum payment and repay the balance (plus interest and fees) over a set period of time. Borrowers use installment loans to pay for expenses like bills, debt consolidation, financial emergencies, and more.
How much can I borrow with a personal loan with bad credit?
Personal loan amounts generally range from a few hundred to a few thousand dollars, depending on your income and financial history. CreditNinja, for example, offers bad credit personal loans ranging from $300 – $5,000.
What are the eligibility requirements?
Eligibility requirements for most personal loans, including CreditNinja, include being 18 years or older with proof of ID, having a steady source of income, and an active bank account.
How quickly can you get funding from a personal loan?
Most borrowers have access to their personal loan funds within a few days following approval. CreditNinja borrowers can expect approved funds delivered to their bank account as soon as the same-day or next business day.*
References:
CreditNinja does not act as a direct lender in all states. In certain states, loan products are offered and originated via bank partners, which are duly licensed financial institutions. The availability of loans and the identity of the originating lender may vary depending on state of residence and applicable state and federal regulations.