Best Short Term Loans For Bad Credit – Guaranteed Approval Of Small Personal Loans For Quick Cash Online In 2021


Short term loans need solid credit standing. But what to do if you do not have the best credit score?

Bad credit can be a nightmare, especially when you have a new, unexpected expense to pay for. One point below the “minimum good,” and half of the reliable creditors would immediately back off. A credit score of 579 or anything below is considered risky on the part of the creditor.

But here’s the good news – short term loans for bad credit aren’t entirely impossible. In fact, many financial institutions are offering such loans these days.

Now, the bad news – loans granted over bad credit are quite risky for the bad credit borrowers and usually come with a whacking interest rate. If not chosen correctly, they can even push you further down the ditch.

Therefore, you have to be super careful with whom you choose to borrow from. It may require a lot of research, phone calls, and legwork to find a legit creditor. Not only is it time-taking, but it may cost you a lot more too. 

To save you from all that trouble, we have compiled a list of the most reliable creditors offering short term loans for bad credit. You can find all the required information below and reach out to the website directly for the rest. Make sure to check out all the terms and conditions so that you do not have to deal with any issues later.

Top 4 Online Lenders Of Short Term Loans for Bad Credit Score:

  1. MoneyMutual – Overall Best Small Personal Loans For Bad Credit, Guaranteed Approval
  2. BadCreditLoans – Top Online Lender For Small Payday Loans & Same-Day Loans
  3. CashUSA – Trusted Loan Company For Short Term Loans For Instant Cash
  4. – Leading Loan Lender Of  Small Personal Loans For Bad Credit 

Here are the detailed reviews of our top picks:

#1. MoneyMutual –  Overall Best Small Personal Loans For Bad Credit, Guaranteed Approval

MoneyMutual tops our list for its excellent customer rating and a large creditor network. The brand was established to help US citizens meet their short-term financing needs. It understands how every 4 out of 10 individuals fail to raise even $400 in an emergency. Thus, this platform aims to help people in times of financial need. 

It operates as an online marketplace with a large network of lenders that can lend you a handsome loan amount at once. Fortunately, you do not have to wait for days to get the funds.


Here is what makes MoneyMutual our top pick. 

Application Process: Applying for a loan is also quite easy. All you need is a smartphone or a laptop and a stable internet connection. Once you have that, log in to and fill out a couple of forms that hardly take a few minutes. Provide accurate information because the slightest mistake can result in rejection and ultimately delay the process. Don’t even think of entering false information because lenders thoroughly review each application before approving it.

Approval Time: Deeply understanding the economic condition of its people, the brand offers quick and convenient financing for everyone. Twenty-four hours into the approval and you’ll have the credit in your account. This saves you from waiting for days to get the amount, allowing you to get going with your urgent expenses. 

The Amount You Can Borrow: What’s even better is that you can get up to $5,000 at once, which is quite rare, especially with bad credit. Thus, you can get most of the amount from one place – it saves a lot of time and effort.

Interest Rate: MoneyMutual’s interest rate varies between 200% and 1300%, which is one big problem when it comes to repaying. With this rate, you’ll have to pay a hefty sum as interest. Fortunately, some states have specific restrictions on interest rates to protect the bad credit borrowers, while others don’t. You might want to check that in your state.    

Lending Terms: Their lending terms also vary from time to time and must be read before filling up the forms. If you have trouble understanding any clause, contact their customer support right away. You can visit their official website or social media accounts for your queries. Either way, their active customer support service will not take more than a few minutes to reply.

Needless to say, MoneyMutual is a reliable and convenient funding source for people with bad credit. And, the 200,00 customer base further proves it. 


  • Easy to apply 
  • Allows credit of up to $5000
  • Instant approval and credit transfer


  • Does not offer services in New York and Connecticut 
  • Higher interest rates

Customer Experience 

The five-star rating says a lot about customers’ experience with this brand. What customers love the most about this platform is the availability of all types of lenders, which helps them get the most customized loans as per their needs. Therefore, those who deal with the platform once don’t feel the need to go anywhere else.

=> Click here to visit the official website of MoneyMutual

#2. BadCreditLoans – Top Online Lender For Small Payday Loans & Same-Day Loans

Operating since 1998, BadCreditLoans is one of the oldest establishments on our list. It is open to people from all walks of life without irrational discrimination. Needless to say, it has a massive customer base with over 750,000 users who are more than happy with its service.

Fast approvals and standard interest rates are what make BadCreditLoans a favorable choice for many loan seekers. Plus, you can borrow up to $10,000 at once.


Here’s everything you need to know about BadBreditLoans. 

Sign up Process: Be it funding an emergency or a saving account, you can always turn to BadCreditLoans. The brand is mainly an online platform that connects you with loan lenders for instant borrowing. It has a simple sign-up process. All you have to do is visit its website and check out the given directions. There is a step-by-step guide to make the process even easier and faster. 

Once you have followed all the steps and provided the required information, you’ll be connected with a virtual lender to assist you with getting your loan. 

The Amount You Can Borrow: You can borrow any amount between $500 and $10,000. Fortunately, this broad bracket can help you deal with almost all types of sudden financial needs. 

Interest Rates: Despite the amazing service and greater lending bracket, the interest rates are pretty economical here. It varies between 5.99% and 35.99%, depending upon the chosen terms.

Approval Time and Process: Another great thing is instant approval. Once you submit the application, it is presented to lenders who review it in order to approve or reject it. The lender who approves it further assists you in getting the loan you need. Before that, they thoroughly check your credit history and verify your details. It usually takes a business day to get the amount in your account.

Repayment Terms: When it comes to repayment, you can enjoy easy installments from 3 months to up to 60 months. Although it largely depends on the borrowed amount, there might be some degree of customization too. This gives you enough time to save up the money to pay back. 


  • Quick approval 
  • Lower interest rates
  • Lendable amounts up to $10,000
  • Easy repayment terms


  • The application form requires a lot of information

Customer Experience

Quick approvals are what customers love the most about BadCreditLoans. It has helped them deal with some of the most urgent funding needs. Consequently, it has become their best friend in times of emergency. They highly appreciate how cooperative and helpful the lenders on the platform are.

=> Click here to visit the official website of BadCreditLoans

#3. CashUSA –  Trusted Loan Company For Short Term Loans For Instant Cash

CashUSA is another super reliable site to get short term loans for people with bad credit. It allows borrowings of over $5000 and has a standard interest rate. The installments can span over a 6-year period for easy repayments. 


Here’s what brought CashUSA to our list. 

Loan Sign-Up Process: CashUSA is no less easy than the other options. You simply have to visit the site and create an account. Look around the site for all the information you need. Make sure to carefully go through the terms and conditions and proceed only if they meet your expectations. This is important so as not to end up with even more debt and another big dip in your credit scores. 

If you are fine with the terms, go on and fill out the loan application form. The site will present your form to the lenders, who will reach you out with their credit offers. Take your time reviewing them and deciding. If you don’t find a suitable offer, simply turn it down and wait for others to come. One good thing is that, after connecting you directly with the lender, the site moves aside, no longer acting as a middleman.

The Amount You Can Borrow: Through this platform, you can get any amount between $500 and $10,000. However, the offered amount doesn’t need to be exactly what you asked for. Therefore, you have to look for the best bet.

Interest Rate: The interest rate varies between 5.99% and 35.99%, based on the lending terms. Since CashUSA is a network of lenders, you have to connect with a lender to find out their exact fees and interest rate.

Approval Time: CashUSA has a super active network of creditors who hardly take a few minutes to approve the loan. Once approved, the creditor takes a day to transfer the funds to your account. 

Repayment Terms: If 60 months from the previous option does not fit your plan, CashUSA has a better option. You can extend your installments anywhere between three months to up to 72 months. This makes repayments quite convenient as you can easily save up the amount and pay it back in smaller fractions.


  • Instant approval and transfer 
  • Lower interest rates
  • Greater lendable amount of up to $10,000
  • Installments can be extended to 72 months


  • It might take some time to find the best offer

Customer Experience 

Customers love CashUSA’s repayment terms that allow installments of up to 72 months without any extra fees. Plus, the sign-up process is pretty straightforward. Apart from the active customer support, the website itself is quite informative and answers most of the queries.

=> Click here to visit the official website of CashUSA

#4. PersonalLoans – Leading Loan Lender Of  Small Personal Loans For Bad Credit 

PersonalLoans has the highest lending power with a standard interest rate and easy repayment terms. Whatever reason you need to borrow the amount for, you can always consider PersonalLoans. There is no restriction on the fund’s usage. 


PersonalLoans had all the right reasons to be on our list. Check out the highlights below.

Loan Sign Up Process: Signing up for a loan has never been this easy. All you have to do is visit the website, create an account, and fill out the loan application form. Be accurate with your details because providing wrong information will only delay the process, putting you in even more trouble. Also, make sure to read the terms before filling out the form. Every platform has its own terms and conditions that must not be ignored. Remember, apart from the platform, you must also check the lender’s terms.

Once you have submitted the form, it will be presented to the lenders, who will come up with their offers for you. Review the offers to find the best one for your requirements. You will then be asked to complete an application form on the lender’s site. There you can discuss the interest rate and repayment terms. 

The Amount You Can Borrow: PersonalLoans allows a whopping $35,000 in credit loans. Thus, you do not have to sign up with multiple lenders if you need such a huge amount. However, the minimum lendable amount is $1000.

Interest Rate: Despite the greater lending power, the platform has a standard interest rate. It varies between 5.99% and 35.99%. The actual percentage depends upon the lender and the lending terms.

Approval Time: There could be a lot of reasons for a short term loan, including emergencies. Thus, PersonalLoans has kept its loan approval process simple and faster. It only takes about a few minutes to get the status updates. It takes about one business day to get the amount in the bank account.  

Repayment Terms: If you cannot pay back in full, request installments. You can enjoy easy installments starting from three months to up to 72 months. That gives you enough time to arrange and repay the amount. However, a simple rule with these creditors is that the earlier you pay, the cheaper it will be. This will save you a considerable amount that would otherwise go as interest. 

Remember to check your actual ability to pay back before finalizing your terms.


  • Faster loan approval and transfer 
  • Standard interest rates
  • Allows greater credit loans
  • Allows up to 72 months to payback


  • Does not allow less than $1000 loan

Customer Experience 

Customers seem quite satisfied with the smooth application process and large lendable amounts. Moreover, they feel secure about the information and processes exchanged on the platform. They also appreciated the active customer support for its timely services.

=> Click here to visit the official website of PersonalLoans

How We Made the List

There’s a lot of information online, but it’s difficult to trust any of it when it comes to making financial decisions. To make this article a reliable source of information for you, we have gone out of our way to collect the most recent updates on each of the presented options. 

We began with a long list of potential institutes that offer short term loans for bad credit. Since hundreds of people are on the lookout for such credit loans, many companies have started offering them over time. Consequently, we ended up with a long list from which we sorted out the top 4. 

To find the best ones, we looked into each company’s customer reviews, old and recent news, interest rates, service charges, terms and conditions, and everything else needed. Once we got all the required information, we started to sort and grade the list. We eliminated the ones that did not meet our standards. Our list also contains the interest rates, so you do not have to get into that math either.

Based on this information, we have ranked each option for you to search through accordingly. Starting with the first one – our most recommended – we went down the list as per our criteria.

Our Criteria – Factors We Looked for: 

Here are the factors we looked for when finalizing our list of the top 4 short term loans for bad credit. 

  • Monthly Income Requirement – Every lender has its minimum monthly income requirement as a security check on you. Higher figures might put some loan seekers in trouble. 
  • Lendable Amount – To see if the lender can meet your funding requirements
  • Interest Rate – To help you decide whether you can afford to repay
  • Time Needed for Loan Approval – Usually takes a day or two but can be longer, which may not be feasible
  • Maximum Time to Receive the Funds – Whether you can receive it at the desired time or have to wait longer
  • Number of Customers – Lenders with a greater customer base are relatively more reliable
  • Customer Feedback/Reviews – What customers say about the particular service or the lender in general
  • Locations Available – To check where a lender does or does not provide services
  • Additional Fees – Late fees or service charges can lead to a manifold increase in the repayment amount – a big issue for many bad credit borrowers
  • Repayments – Whether the creditor accepts repayment in installments, a lump sum, or both

Based on these aspects, we have put together the following list of the top 4 creditors to get a short-term loan from, even if you have bad credit. 

Things to Know When Getting Short Term Loan for Bad credit 

Getting a loan is no less complicated than getting a house. You may have many options but finding the best one that suits all your needs is an extreme challenge. The same is the case with credit. Especially now, with so many lenders in the business, finding the genuine ones needs a lot of work. 

Here, word of mouth from a reliable source can be a great help. However, if you don’t have a reference, we got you. Here is everything you need to know when getting short term loans for bad credit.

Minimum Income Requirement

When applying for a loan, you need to show your monthly income. It helps the creditor assess whether you can repay. Some lenders have a minimum monthly income requirement below which they do not approve credit loans. Therefore, it is important to check this out before filling out an application form.

Creditor’s Lending Power

If you need a loan of $1000, look for someone who can lend you the whole loan amount. Getting in bits is not a good idea. Since creditors have different lending powers, it’s essential to check them out before adding them to your list. Some may have mentioned the maximum they can offer while others a range. 

Ease of Repayment 

If you are on a monthly paycheck, repaying a lump sum might seem impossible. You’ll probably need some time to save up and repay the loan. Therefore, you need to look for lenders who accept installments. Some may even create installments as per your ease. On the other hand, if you can repay the loan altogether, better not delay. 

The Time Needed for Approval 

Some creditors need more time than others to approve the loan. You can easily get a loan in a few hours if you have good credit. But it doesn’t always work the same way for people with bad credit. Instead, some lenders might run a hard credit check before approving the loan, which may take time. Sure, you’d not want to apply for a loan that takes about 2-3 days for approval while you need the money in a day. Thus, check the time required for approval before filling out the application form.

Releasing credit 

Apart from the approval time, you must also consider the time until you can actually use the credit. Some creditors may release the funds in a few hours, whereas others may take longer. 

Additional Fees 

There are times when you need extensions in repayment. Perhaps you get stuck on more significant issues. In such cases, cooperation from the lender is very important. However, it mostly doesn’t come free. Thus, you need to be careful about it in the first place. Check for late fees and any additional charges. 

FAQs – Short-Term Loans Online 

Q. What are some sites for short term loans for bad credit online? 

Almost everything is available online these days, and so are short term loans for people with bad credit. Open your search engine and type your query; you’ll be surprised by the number of results. Some creditors may even allow international loans. However, trusting just anyone isn’t easy nor rational. Therefore, it’s essential to conduct proper research or reach out to the ones referred to you. 

All the lending sites mentioned in this article are highly trusted names. They all have a massive customer base and excellent ratings. Though we still recommend conducting thorough research on your own before settling for one. 

Q. What is the process for getting short-term loans for bad credit online? 

With so many lenders online, it is pretty easy to apply for a loan, even with bad credit. They usually have a simple application process that you can check on their website. Most of them have a step-by-step guide that makes it even easier. Plus, you can contact customer support at any time. 

To give you an idea, here is what the standard application process looks like. You have to visit the lender’s website, create an account, read through the terms and conditions, fill out the form and wait for a reply. The lenders will review your application and reach out to you to take the process further. You may also be asked to fill out some forms on their official sites. But before that, it’s important to discuss all the terms and conditions with them to ensure you’re both on the same page. When completely satisfied, provide the remaining information, and you’re good to go.

Q. Can I get a short-term loan for bad credit on the same day? 

There aren’t many secure options to get short-term loans for bad credit on the same day. Most lenders take about a day to verify and transfer the loan amount. Even if your loan is approved in minutes, it takes about a business day to transfer. 

Some lenders accommodate wire transfers that drop the money into the customer’s account in minutes. But, it doesn’t come for free. 

Another thing you can do is look for lenders that can hand you the cash in person – the traditional way. Although it might be a little inconvenient as you’ll have to visit the respective branch, it can be a reliable way out. 

You can also go for PAL (payday alternative loans). These are quick and easy and do not require credit scores.

Q. What is the basic requirement for getting a short-term loan with bad credit? 

Needless to say, lenders who allow credit loans for bad credit do not count your credit rating. But apart from that, here are some basic requirements for getting a loan.

  • 18 years of age
  • An active bank account 
  • Home address 
  • Contact details
  • US citizenship 
  • Evidence of monthly or yearly income 
  • Social security number
  • Government-provided ID card – can be a passport, driver’s license, social security card, etc.  

These are some of the basic requirements that almost every lender holds. In addition, some may even ask for your employment history, credit score, credit history or any other information that might help them assess your repayment ability. 

Remember, these requirements can change depending upon the type of loan you apply for. For example, if you need a car loan, you’ll have to inform the lender about the car you wish to purchase. Similarly, for a business loan, you’ll have to provide all the information about your business.

Q. Is it safe to provide my personal information on loan forms online?

Increasing cybercrimes are the biggest reason why people hesitate to provide their information online. However, when applying for a loan online, you don’t really have an option. If you want to initiate the process, you have to fill out the form. 

In such a case, you should be careful about the site you choose to provide your information on. Not all sites are trustworthy. For example, in this article, we have only discussed the most reliable lending sites that you can reach out to for a short-term loan. No wonder, these sites are the biggest victims of cyber-attacks because of the sensitive information they receive. Therefore, they maintain a strong security system to protect all their users’ information.

To find out more about their security system, you can speak to their representatives or other concerned authorities. Also, read the customer reviews to see if anyone has stated any such issues. 

Conclusion : Online Short-Term Loan Lenders

Getting short-term loans for bad credit might seem difficult, but it is not impossible. There are many online creditors ready to lend you the helping hand you need. Obviously, it comes with a fee. Now that you have to pay, make sure it goes to the one who really helps you out. For that, you’ll have to conduct thorough research of the available options to find the best one.

Remember, not every creditor follows the same criteria. They have their own minimum and maximum requirements. Although the basic ones remain the same, based on your loan type, you’ll be asked for some specific information too. Thus, be aware of all the prerequisites before you add a creditor to your list. We can’t emphasize enough that it is better to ask than to assume and end up in trouble. 

For the most secure options, you can check out the ones mentioned in this article. They are all quite reliable and serve a massive customer base. Though they have their own pros and cons, MoneyMutual is our top pick. Despite the largest lenders’ network, the platform keeps evolving according to customers’ needs. Plus, their lenders provide highly customized credit loans, making them a credible choice for a lot of loan seekers.

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