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Get an installment loan with bad credit

Securing an Installment Loan with Bad Credit Just Got Easier

Life always throws us unexpected curveballs. For example, you open your mailbox, and a medical bill is waiting for you, even though you thought everything was paid! Or, you budget a certain amount for your electricity bill, and the actual amount is double what you budgeted!

These curveballs can come anytime. The examples are meant to be lighthearted, but many Americans try to get financial help for these very things, and they are turned away because of bad credit.

However, if you have a low credit score and you need money fast, there are options available. An online installment loan is a fantastic option that can meet any financial emergency, and not wreck your budget.

What Is an Installment Loan?

An installment loan can refer to any loan that is repaid over time according to a predetermined payment schedule. Installment loans can be short or long-term loans.

Simple Fast Loans, a nationally recognized online lender, offers same-day approvals and same-day funding up to $3,000.

For instance, an installment loan from Simple Fast Loans can be used for unexpected expenses such as car repairs, necessary home improvements, or any other critical financial need.

What Is Bad Credit?

You may have been told that you have "bad credit” or "a bad FICO score." But, what does that mean? Having "bad credit" means that you have a low credit score.

Your credit score may also be referred to as your FICO score or Vantage Score. FICO stands for “Fair Isaac Corporation” because it helped develop the way that credit scores are calculated. Similarly, Vantage Score simply uses a slightly different formula to determine your credit score.

Financial experts divide FICO credit scores into five categories:

  1. "Poor" credit scores range from 300 to 579
  2. "Fair" credit scores range from 580 to 669
  3. "Good" credit scores range from 670 to 739
  4. "Very Good" credit scores range from 740 to 799
  5. "Excellent" credit scores are anything over 800

A credit score that lands in the "poor" or "fair" category may make it difficult for you t to get a loan. You can raise your credit score; however, doing so can take a long time. If you need money for an emergent expense, then you will need to find a lender willing to consider applicants with all credit scores.

Unfortunately, many lenders require that borrowers have a minimum credit score to apply. However, Simple Fast Loans has no credit score minimum, meaning that they accept applications from individuals with any credit score.

If you need emergency financial assistance but have been turned down by lenders, then you may want to try applying online with Simple Fast Loans.

How Do I Apply for an Installment Loan?

Applying for a loan can involve a lot of paperwork and red tape. Then, after all of that work, you can still be denied the loan. However, online lenders like Simple Fast Loans aim to make the process quick and easy.

Simple Fast Loans has an easy application process so that you can get the money you need quickly and efficiently. When you are already stressed about an unexpected expense, Simple Fast Loans is here to make the application process as straightforward as possible.

How to get an installment loan with bad credit

How Do I Know If I Qualify?

All lenders will have some basic qualifications that you must meet to apply for their loans. Thus, the first thing you need to do is make sure that you meet the basic requirements necessary to qualify for a loan. Simple Fast Loans has only two basic application requirements:

  • Applicants must be at least 18 years old.
  • Applicants cannot be a regular or reserve member of the military, serving on active duty, or a dependent of a member of the Armed Forces on active duty.

If you meet these two requirements, then the next step is gathering any documentation that the lender requires. With Simple Fast Loans you just need to get the following four materials ready:

  • Valid government-issued photo ID (e.g., driver's license, state ID, passport)
  • Active checking account (including routing and account numbers) where the majority of your income is deposited
  • Valid phone number that can be used to contact you
  • Valid Social Security Number

Once you have confirmed your eligibility and collected the required materials, you can simply visit to start your application. Upon completion of your application, Simple Fast Loans will provide a decision in minutes. The funds can then be in your bank account as soon as that day.

Bad credit defined | What you need to know to get a loan

Common Concerns

Now that you know all about installment loans, credit, and how to apply for a loan with Simple Fast Loans, you may still have a few lingering questions or concerns about credit, collateral, or customer service.

What About My Bad Credit?

At Simple Fast Loans, you do not have to worry about being turned away just because your credit is less than perfect. Simple Fast Loans understands that your credit score does not define you. Simple Fast Loans considers factors beyond your credit score such as proof of income.

Do I Need Collateral To Get a Loan?

If you have a bad credit score, sometimes lenders may ask you to provide collateral in the form of valuable assets. If you struggle to repay your loan, then the lender will seize the asset you used as collateral. The last thing you need during a medical emergency or emergent home repair is to lose your assets.

Fortunately, Simple Fast Loans does not require you to provide backup collateral, even if your credit score is less than perfect. That means you can get a loan without worrying that you will lose your home or car.

How Do I Know If I Can Trust My Lender?

Unfortunately, not all lenders are trustworthy. They may promise quick payouts or customer support, but they do not follow through when you need help. Simple Fast Loans has a proven track record as a trustworthy, registered lender.

Simple Fast Loans has a nationwide network and customer service representatives available via live chat, phone, and email. Simple Fast Loans is also a verified company on Trustpilot, with a 4.8 out of 5 possible 5-star rating and over 5,900 reviews.

Simple Fast Loans also ensures that any personal information provided is stored securely and remains confidential.

What Else Do I Need To Know About Simple Fast Loans?

Now that you know credit is not an issue at Simple Fast Loans, you probably want to know more about the installment loans offered.

Does Simple Fast Loans Operate in My State?

Simple Fast Loans offers installment loans in the following 27 states: Alabama, Alaska, Arkansas, Arizona, California, Delaware, Florida, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, Mississippi, Montana, Nevada, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming.

How Much Money Can I Borrow?

Simple Fast Loans offers installment loans in amounts ranging from $200 to $3,000. The specific amount you qualify for will depend on several factors, including the state you live in and your income. When you apply online, you will get a decision within minutes.

How Do I Get the Money?

Simple Fast Loans is a fully-online lender, meaning that all installment loans are processed online. You never have to leave the comfort of your home to apply for or receive your loan. Funds are deposited into a valid checking account either the same day or the next.

What Can I Use the Money For?

You can use your installment loan for many different expenses, including:

  • Unexpected medical bills. Medical emergencies are stressful enough without worrying about the bill you may receive. With an installment loan, you can choose the best procedures, medicines, and doctors, without worrying about draining your checking account.
  • Dental costs. Dental pain can be a real issue in your day-to-day life and you may not be able to pay for that pricey root canal up front. With an installment loan, you can get the procedure now and pay back the loan over time.
  • Home repairs. Everyone deserves a safe and comfortable place to call home. When an unexpected freeze bursts your pipes, and water comes pouring from the ceiling, you need money quickly. An installment loan can provide the funds to repair your home.
  • Vehicle repairs. In many cities, a reliable vehicle is necessary. If you cannot get to work, you must find the money to fix your vehicle. An installment loan can provide the necessary funds immediately so that you can get back to work.
  • Appliance Repairs. If you live in a hot climate, an air conditioning system is a necessity in the summer. An installment loan can get your air conditioning system back up and running so that you can get some much-needed sleep.

As you can see, there are many ways that an installment loan could improve your financial situation. Plus, Simple Fast Loans make it easy to obtain the funding you need for any emergency expense.

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