2021’s Top 5 Direct Lenders for Personal Loans for Bad Credit & Small Loans


Trying to get a personal loan when you know you have bad credit is a bit intimidating, especially when you think about the fact that you would most likely get rejected by banks and credit unions.

However, a series of events, or even just one, could compel you to apply for a loan. All is not lost if it comes to taking a loan, as you do not have to meet difficult eligibility conditions. There are lenders out there that offer personal loans for bad credit holders, and luckily, these lenders do not mind your credit score and are willing to give you the money you need.

Personal loans for bad credit companies are the best option if your credit score happens to be below average. These companies save you the stress of sourcing for lenders and connect you to thousands of lenders on their platform. Does that not sound wonderful?

But, how do you decide which ones are credible or not? Aside from credibility, some companies that are willing to give you a loan will readily approve your application, but with their high-interest rates, you may struggle to meet the repayment conditions.

If you get on Google and search for online lenders, you will find hundreds if not thousands of companies claiming to be the right platform for you. Some may be telling the truth, and others not so much. How do you identify genuine offers? How do you find the online vendor that is right for you?

Fortunately, we have done the work for you, so all you have to do is read. We wrote this article to help you get quick loans easily. We have researched and reviewed online lenders with the best personal loans for bad credit. 

Alongside these reviews, we have created a buying guide that will help you choose credible online lenders should you decide to look at other options. You will also find answers to frequently asked questions about personal loans for bad credit companies.

Top 5 Best Platforms for Personal Loans

  1. MoneyMutual: Overall Best for Bad Credit Personal Loans
  2. Personal Loans: Runner Up Platform for Loans for Bad Credit Online
  3. CashUSA: Instant Small Loans for Bad Credit
  4. Credit Loan: Direct Lenders for Bad Credit
  5. Surge Mastercard: High Risk Personal Loans Guaranteed Approval Direct Lenders

#1. MoneyMutual: Overall Best for Bad Credit Personal Loans


MoneyMutual is a personal loan or unsecured loan offering company that came about when they realized that 40% of Americans could not afford up to $400 if an emergency were to occur.

The company is a member of the Online Lenders Alliance, which is body that ensures its members abide by the highest standards of conduct and give customers the best possible experience while still adhering to federal laws. 

MoneyMutual does not just rely on the body governing it for credibility, as the company also gets that from external bodies. Review sites like Consumer Affairs, The Tokenist, and SimplyMoneyLyfe have given this company glowing reviews.

MoneyMutual connects credit borrowers with over 60 unique lenders that provide individuals with various loan offers.

The requirements for eligibility are lenient, as you simply need to be a U.S. resident and over 18 years of age. You also need to possess a valid checking account and proof of a steady income ($800 and above monthly payments). After that, you are eligible for a loan.

MoneyMutual is a fantastic option for personal loans with bad credit if you urgently need some money.

To round up the top points, MoneyMutual does not ask for much. With just four requirements, you are eligible to take a loan. In addition, no matter what type of loan you require or the amount you need, MoneyMutual has the right lenders and services for you.

With MoneyMutual, you do not have to worry about charges before applying for a loan. Even after application, there is no hidden fee, as the lenders pay all fees.


  • Free service
  • Very secure
  • Quick application process
  • Secure transactions
  • Excellent customer service


  • Not available in all states
  • Platform not liable for customer issues

⇒ Click Here to Visit the Official Website of MoneyMutual

#2. Personal Loans: Runner Up Platform for Loans for Bad Credit Online


Personal Loans is an all-around fantastic loan company. There are countless reviews online that prove Personal Loans is a platform you can trust. 

MoneyUnder30 and FundingHero are two of many review sites that have had nothing but good things to say about this loan company. Also, they are a member of the Online Lenders Alliance.

Personal Loans gives out two types of loans to meet the needs of all borrowers. These loans are personal installment loans and peer-to-peer loans.

Peer-to-peer loans connect you, the borrower, to peer-to-peer lenders, who then connect you to investors. The investor in this scenario is not a bank but an individual or a company.

The request process for this type of loan is free. However, the peer-to-peer lenders will collect an origination fee between 1-5% of whatever your loan is, which will be deducted from the loan amount.

Personal installment loans work similarly to peer-to-peer loans. All you need to do is request a loan on the platform, and after that, you will be connected with various lenders and their loan offers.

There is still a silver lining if you do not get an offer on Personal Loans, though, as the platform connects you with companies that offer you other credit-related services.

With different types of loans and other options available, if you do not get an offer, Personal Loans is bound to put a smile on your face. 

As for the benefits of this platform, Personal Loans protects your information with only the most advanced data encryption technology. Therefore, your information is secure and safe. Due to their extensive network of lenders, Personal Loans offers a wide range of competitive rates that other loan companies may not be able to provide. Also, Personal Loans has a customer service system always available to their clients. You can reach them by email, phone call, online form, or social media.


  • Highly secure
  • Different loan packages
  • High loan limits
  • 24/7 customer support


  • Not a direct lender
  • Peer-to-peer lenders collect a fee

⇒ Click Here to Visit the Official Website of Personal Loans

#3. CashUSA: Instant Small Loans for Bad Credit


CashUSA is one the most reliable platforms for loans in America. The company offers an assortment of loan options via a network of lenders, including state and tribal lenders.

If you are looking for personal loans with bad credit, this company must be on your list. They have payday and quick loans, just in case you need those services.

But, we are not the only ones that think so highly of CashUSA, as various review sites have confirmed this loan company truly is spectacular.

The CashUSA platform is easy to use and the loan approval process simple. To top it all off, their services are completely free.

Ultimately, if you are in a bind and are looking for personal loans for bad credit, you cannot go wrong with CashUSA.

In addition, we confirmed this platform has customer support staff who work round the clock to give you all of the help you need. You can reach them through different channels, including email, mailing address, or Facebook. Additionally, CashUSA.com assures you of privacy and security when you use their platform. The company utilizes standard encryption and high-grade security measures to ensure your information does not fall into the wrong hands. 

With CashUSA, you do not have to worry about logging on to the platform or reaching out to the team to make payment. You simply need to have the funds in your account on the due date, and after that, your lender will do the rest.


  • Fantastic customer support
  • Secure platform
  • Customer helpdesk online
  • Loans available in all 50 states


  • Occasional high-interest rates
  • Not responsible for disputes

⇒ Click Here to Visit the Official Website of CashUSA

#4. Credit Loan: Direct Lenders for Bad Credit


Credit Loan has been in the business of helping customers since 1998. Its goal has always been to help the 30% of Americas who cannot get a loan because of bad credit.  

The Better Business Bureau gave the company an A+ rating, and on their site, there were no complaints about the business. Review platforms like Loans Review USA and Trustpilot also approve of this loan company.

On Credit Loan, you can get your loan in four easy steps. Security is a priority, so they use only the best security measures. The limited information they require from you is simply to check if you meet their requirements, and that is all.

If you are eligible, you are entitled to loans starting from $250 to $5,000. However, loan terms and interest rates differ from one lender to another.

Above all, Credit Loan is one of the only platforms with the TRUSTe® seal, which means it abides by the best practices and strictest privacy standards. Therefore, do not worry about your details getting exposed to the public. On their page, you can find information about everything relating to the loan application process and more. Furthermore, you can find explanations to terminologies, FAQs, and even reviews from other customers.


  • Quick access to funds
  • Minimum credit loan amount is $250
  • Multiple loan options
  • Secure online services


  • Not available to New York and Connecticut residents
  • Only for small loans

⇒ Click Here to Visit the Official Website of Credit Loan

#5. Surge Mastercard: High Risk Personal Loans Guaranteed Approval Direct Lenders


Surge Mastercard is for those that want the luxury of having a credit card but do not have the credit score to qualify for one. With this card comes all of the benefits we usually get with standard credit cards.

Regardless of your credit score, you can apply for a Surge Mastercard and still be accepted. Once approved, you get a minimum of $300 and a maximum of $2,000 as credit.

If you are looking to boost your credit score, or if you would like to start building your credit profile from scratch, then this card is for you. Unfortunately, you do not get the miles and points you would get from a regular credit card, but your credit score will improve. As a result, you have more money to spend.

You pay between $75 to $99 per annum for this card. However, the monthly maintenance fee reaches up to $120 per year. On the bright side, you are receiving a credit card with your name on it, even with bad credit.

Next, we have summarized the top-selling points. First, if you own a Surge Mastercard and there happens to be an unauthorized charge on it, you are not held responsible for the accrued fees. Also, to help you build or repair your credit report, Surge reports to the three major credit bureaus monthly. In addition, many platforms find ways to sneak fees into your loan request and take them when they disburse your loan. But, you do not have to worry about that with Surge because their services are transparent.


  • Builds credit score
  • 24-hour access to service
  • Swift application
  • Credibility
  • No credit checks


  • High annual fee and interest rate
  • Requires a checking account

⇒ Click Here to Visit the Official Website of Surge Mastercard

#6. Indigo Mastercard


Indigo works almost like Surge, as the company offers you a credit card with a $300 limit all for you.

This card is helpful because you can use it to boost or repair your credit score. If you keep making payments at the right time, this card can help you qualify for better credit cards.

Indigo reports to TransUnion, Experian, and Equifax, which works in your favor because these bureaus calculate your credit score.

Unlike Surge, you might have to pay an annual fee depending on your credit. If your credit history happens to be bad, you expect to pay between $59 and $99 per year.

Fortunately, new members get a reduced fee, and as with most loan platforms, Indigo has a high-interest rate for bad credit.

All the same, Indigo is a great platform to round up a few extra bucks if you have bad credit and require some quick cash, and their top features are excellent. With an Indigo Platinum Mastercard, you get all of the benefits of a regular Mastercard, some of which include travel assistance services and extended warranty coverage. Also, you can use an Indigo Mastercard anywhere they accept the regular Mastercard, including places abroad. You just have to pay a low foreign transaction fee of 1%. Finally, Indigo does not require you to make a cash deposit. Therefore, all you have to do is get approved, and the credit card is yours.


  • Unhinged credit card
  • 24-hour customer support
  • Quick pre-qualification process
  • No deposit required


  • High-interest rate and annual fee
  • Foreign transaction fee

⇒ Click Here to Visit the Official Website of Indigo

#7. Auto Credit Express


You should not wait for an emergency before you start looking for a loan. Sometimes, there could be something you want to buy — for example, a car.

Auto Credit Express is dedicated to finding lenders and dealers that will help you in your bid to own a car. The company has an A+ rating from the Better Business Bureau and a 4.6-star rating on Trustpilot.

Getting a loan with Auto Credit Express is straightforward, and you can even call them to apply. What is more, it only takes less than 24 hours to get approved.

With Auto Credit Express, there is always an option for you regardless of your financial situation. Even those that are bankrupt can get approved on this platform. However, you have to earn at least $1,500 monthly to be considered for this service. After that, it is smooth sailing.

You are killing two birds with one stone by using Auto Credit Express. You are rebuilding your credit profile by making payments on time, and you have a car that makes it easy for you to move around. 

Above all, bankruptcy is not a problem, and the Auto Credit Express team will listen to you. Also, not everyone fits into the same box regarding finances. Auto Credit Express understands this and has programs to meet your needs and agents to guide you through the process. In addition, before you apply for a loan, there is an option to estimate how much money you can receive based on your income, debt, and credit factors.


  • Accepts bankrupt clients
  • Loan estimator available
  • Easy application
  • Reliable


  • $1,500 monthly income required
  • Numerous follow-up emails

⇒ Click Here to Visit the Official Website of Auto Credit Express

#8. Car.Loan.com


This is yet another superb company that you can approach for personal loans with bad credit. The platform has helped over 6 million people in 30 years, so they must be doing something right.

Car.Loan.com offers financial support to just about anyone regardless of their credit. So, there is definitely an offer for you on this platform.

Applying for a loan is a stress-free experience. All you need to do is submit an application on their website and wait for a personal loan advisor to reach out to you. They will guide you through the process of acquiring a loan from the company.

They will also inform you of all you need to know about auto financing and the best course of action depending on your credit situation. However, you have to meet a requirement of earning at least $1,600 income monthly, so watch out for that.

For those looking to buy a car with bad credit, look no further, as Car.Loan.com is all the help you need. Overall, Car.Loan.com has numerous resources that educate its users about loans and cars in general. On the platform, you would find articles like tips on buying a car and money management topics. 

Regardless of your condition, Car.Loan.com has a solution for you. They have programs to help bankrupt people, single parents, military persons, and others with a history of credit issues. We can also confirm that Car.Loan.com gives you access to hands-on personal advisors to help you get your dream car.


  • Affordable repayment plan
  • No origination fee
  • Flexible loan options
  • Fast approval


  • $1,600 monthly income required
  • High-interest rate

⇒ Click Here to Visit the Official Website of Car.Loan.com

#9. myAutoloan.com


What makes myAutoloan.com differ from other auto loan companies is their variety of personal loans. They offer standard loans for used and new cars, including lease buyout and private party loans.

Like other auto loan companies on this list, anyone can use their services. Although, you need to have a minimum credit score of 575 to be eligible for a loan on the platform.

Also, myAutoloan.com makes the application process an easy one. However, you need to be making at least $21,000 per year to qualify. Once you have applied, they do a minimal check on your credit profile and then match you with up to four lenders.

After you have found a lender, myAutoloan.com will perform extensive checks on your credit profile. If you pass these checks, they will send the money to finance the car purchase to your bank account in less than 24 hours.

Consider using myAutoloan.com if you require a car and have a credit score of 575 and above. Unfortunately, their services are not available in Alaska and Hawaii, so you might need to find another option if you live there. 

The staff at myAutoloan.com can help you reduce your monthly payment on an existing auto loan. Also, if you want to buy a car you are already leasing, myAutoloan.com can help with that. Finally, the company provides customers with various loan offers to make sure they can get the car of their dreams.


  • Several loan options
  • Everyone can apply
  • Multiple lenders


  • Unavailable in Alaska or Hawaii
  • Minimum of 575 credit score required (fixed rate loan)

⇒ Click Here to Visit the Official Website of myAutoloan.com

How We Made the List

You may wonder what makes this list stand out among the others or what steps we may have taken to ensure it is what we say it is. Well, it all comes down to one thing — effort. We searched the web for well-known personal loan companies and compiled a list of them. 

But, we did not just stop there. After compiling this list, we carefully looked at each loan company. Our goal was to examine all they had to offer thoroughly.

By looking at their overall ratings, interest rates, loan term, disbursement time, and other factors, we cut the list down to 15 companies.

To make sure this list only contained the best of the best, we dove back in and did some digging. After our second round of investigation, we can give you the nine best personal loan companies for bad credit.

What We Looked For

  • Loan Request and Fund Disbursement Process: Having to fill in a lot of information even before knowing if you are eligible can be frustrating. Also, waiting a long time for feedback or for approved funds to reflect in your account is not the best way to spend your time. We understand all of that, and we took those factors into account while selecting the right personal loan companies for you.
  • Customer Satisfaction: You are not the first person with bad credit looking for a personal loan, which is why we took our time looking at what they had to say about their experience using the services on our list. Aside from customers, we looked at reviews by experts who know all about the loan process. Using a combination of these two factors, we are able to give you the best of the best companies offering personal loans for bad credit.
  • Loan Term: An essential factor when taking out a loan is how long before you have to start paying back. Also, when you start paying back, how long the repayment plan will last. So, we took a look at the loan terms of these companies and ensured you do have enough time before you start making payments, and when you do, the repayment plan is feasible.
  • Loan Amount: Not everyone will want to borrow the same amount. Some just need a little money, while others require a considerable sum. The truth is, some companies are not going to offer you much money. That is to say, the minimum amount might be too much, or the maximum amount might be too little. Therefore, we had to select companies that offered a vast range of options.
  • Interest Rate: Because your credit score is low and your options are limited, many companies want to take advantage of that. Therefore, they would use this as an opportunity to hike their interest rates to unbelievable percentages. However, we deduced which companies had the best rates on the market and are presenting them to you.

Buying Guide – Important Factors to Consider Before Picking a Personal Loan Company

Choosing the right personal loan company can be tricky. Some services are great, others are good, but there are also bad ones out there. Therefore, you have to be careful with your choice. The platform might not necessarily be fake, but the managers may have hidden charges or even hit you with interest rates that you cannot keep up with.

It is very easy to fall prey to these tactics because you do not know what to look for. However, with this guide, you will not have to go in blind or second-guess yourself. 

Here are factors to consider before choosing a loan company. These are precautions you can take when assessing other personal loan companies that are not on our list.

  • Company Reputation and Transparency

No matter how small a company is, it has a reputation. This reputation could be good or bad depending on the precedent they choose to set. Before you settle for a loan offer, be sure to look out for the company’s reputation. Assess their credibility, what other customers had to say, and reviews written by credible sources. Also, check if they have social media handles or are under any governing bodies.

Most loan companies are members of the Online Lenders Alliance, which upholds the strictest standards for online lending businesses. You can trust any companies that belong to this organization. However, some companies that are not affiliated with the organization are still legitimate.

An upstanding loan company will be transparent in all that they do. As such, they would have no hidden fees and state their terms and conditions upfront. They would also inform you of their security measures and follow all due processes. 

  • Customer Support

No system is perfect, and you are bound to run into one issue or the other. You might not need a problem fixed, or maybe you just need to ask a question about a service. Therefore, customer service representatives should be dependable and easy to reach.

If you cannot reach an agent of the loan company you want to use, this should tell you one of two things. One, their customer support service is poor, and you will not get the service you need, or two, the company as a whole may not be legitimate.

  • Loan Conditions

You need to take a look at the terms of the loan, specifically upfront fees to start with. A legitimate loan company will not ask you for a fee upfront for apparent reasons. It would not make a lot of sense to charge someone looking for money a fee to borrow some. Second, if the company does want a fee, they can collect it in the loan they offer you. 

Any loan company that asks you for a fee upfront is most likely trying to fraudulently acquire your money.

Another thing to consider is the loan repayment plan. How long do you have to pay back the loan? What are the interest rates? These are questions you need to ask before taking out a loan. You do not want to get stuck with a plan you cannot keep up with.

FAQs: Personal Loans

Q1. How Do I Know if I Have Bad Credit?

Bad credit is a term used to describe one’s inability to keep up with bill payments, and it predicts the person will not keep up with future payments either. This is reflected in a credit score.

FICO® is an organization that generates these credit scores, which range from 300 to 850. In this system, the higher your score is, the better. If your score is below 580, it is considered a bad credit score.

A bad credit score can affect your ability to take a loan, but that should not be an issue with any of the platforms we have reviewed above.

Q2. Can I Trust Personal Loan Companies?

It all depends on the company you decide to use. The truth is, there are some dubious companies out there, but there are also companies that want to help you. Therefore, you have to be diligent and careful when making a decision.

Q3. Can I Take Out Multiple Personal Loans at a Time?

Taking out more than one loan at a time is possible. However, you cannot do it on one platform. All you have to do is apply for a single loan from multiple loan platforms. But, this is not recommended because it will affect your credit score. So, try as much as possible to stick to one personal loan at a time. 

Q4. Do I Need Collateral to Apply for a Personal Loan?

You do not need any collateral to apply for a personal loan because they are unsecured. So, you can take an unsecured loan or a personal loan without depositing anything as collateral. Instead, lenders look at your credit history, debt-to-income ratio, and outstanding debts before considering your application.

Q5. What Will Happen if I Do Not Make Payments on Time?

The actions a company will take for late payment vary. If you are unsure about your ability to make a payment, reach out to the lender as soon as possible. These platforms are there to help you and will understand if you explain what has happened. So, contact customer support and explain your situation. By doing so, they may be able to help you change the loan’s due date or even make alterations to your current repayment plan. Also, you should do this if you miss a payment.

Q6. Can People Going Through Bankruptcy Apply for a Personal Loan?

It all depends on the loan company. Some companies will not give you debt consolidation loans, while others might consider it. Therefore, you need to know how the company operates. Similarly, you can take a pre-qualification test to determine your eligibility.

In Conclusion

Not all loan companies are the same, and what works for someone else might not work for you. So, ensure you do your research before picking out a company. Overall, the legit companies all have one fundamental goal — to help you overcome financial problems.

All you have to do is meet their very basic requirements, and you are good to go. These companies can also help you repair your credit profile.

Now that you have read this article, you should be able to tell which company’s services will work for you. To make it easier for you we recommend MoneyMutual as our top priority. Remember, you can always ask for clarification if you are confused about any part of the agreement.

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