You are using an unsupported browser Please switch to a supported browser so you can get the best experience on this site
Need Help? Contact Us or Live Chat
Man who urgently needs a loan and has bad credit.

How To Get Urgent Loans for Bad Credit

Planning only goes so far, and you may need urgent funding while having less-than-perfect credit. While this can complicate the process, it doesn't mean you're out of options when you need it the most.

To get an urgent loan with bad credit:

  • Seek out lenders that work with bad credit
  • Consider their loan terms
  • Have a cosigner (if possible)
  • Apply for your loan

Not every lender is a great choice, but plenty of companies are willing to help you. Keep reading to learn everything you need to know about choosing the right lender and submitting your application.

Where to Look for Urgent Loans for Bad Credit

Realistically, you can apply for a loan anywhere, even if you have bad credit. The most common places include:

  • Online lenders
  • Small and local banks
  • Large national/international banks
  • Credit unions

Online lenders are the best choice if you have bad credit, but small and local banks come in second.

Online lenders, such as Simple Fast Loans, explicitly state their willingness to work with all credit types. This ensures you do not waste your time applying for a loan at a bank that won't even consider taking the risk.

Your small and local banks also have more leniency in their loan approval process. Approval may be a more personal process.

Your chances are not as great as with larger banks and credit unions. They can also take longer to get back to you regarding your application, so they aren't the best choice when you need money urgently.

What to Look for When Comparing Loan Options

When you're looking for a place to get your loan, pay attention to the following:

  • Any indicators of eligibility
  • The lender's terms
  • How long it takes them to fund the loan once you're approved

Please only consider lenders with a great reputation. In this business, bad reviews are inevitable, but they shouldn't hurt their reputation.

These details provide the information you need to work with the best lender for your situation.


You'll have better luck if you look for lenders that state they work with all credit levels. This is easiest to find with online lenders, but you can always ask how your credit affects eligibility when applying in person.

It would help if you also looked out for things that affect eligibility, such as:

  • Derogatory marks on your credit history
  • Your income/debt-to-income ratio
  • Current expenses

Please only consider lenders with a great reputation. In this business, bad reviews are inevitable, but they shouldn't hurt their reputation. Of course, they will be responsible for the loan if something happens to you, but you can piggyback off their credit and income when qualifying.

Loan Terms

When looking at loan terms, you should figure out the following:

  • The minimum and maximum amounts the lender offers
  • Length of the loan
  • Monthly payments
  • Repayment terms

Figure out how they plan to work with you to ensure both parties are getting what they need and ensure you clearly understand any penalties and how they plan to address these issues. Of course, you shouldn't plan for repayment to be a problem, but this may influence which lender you choose.

Time to Fund

Because you're looking for an urgent loan, make sure you choose a lender that gets the funds to you in the time you need.

Most online lenders let you know whether you were approved instantly or on the same day at the latest. However, banks can take longer, and some won't even respond to your request for 7 to 14 days.

Make sure your lender can get the money to you urgently. Many claim that your loan amount will be deposited into your account within 24 hours, but it may not happen.

The Typical Process of Getting a Loan with Bad Credit

Applying for a loan with bad credit is no different from applying for one with good credit, although you may feel more stressed.

It involves:

  • Assembling the items and information needed for the application
  • Providing these details and submitting your application
  • Accepting the loan terms and conditions (if approved)

If you're not approved through your lender of choice, you can try to go with another. This could also signify that you must find a cosigner or look at your finances more closely.

Required Items

When you apply for a loan, the only physical item you need is a government-issued photo ID. You don't need a driver's license, but it needs to be an official ID that allows lenders to verify all your information.

Lenders will also ask for information such as:

  • Your social security number (for identity verification)
  • Your current address and phone number
  • Proof of income

You must be 18 years old in the United States to apply for a loan. Active military members and their dependents also have specific rules to follow.

If you're using a cosigner, they must provide the same information.

Loan Process

Online applications are straightforward. You provide all the necessary information, verify your identity, and await a response.

This is what happens when applying in person or over the phone, but in-person applications have a more personal feel and can answer any questions you have in real-time.

Accepting Your Loan (if approved)

Once approved, your lender will contact you with your next steps. First, they will review all the loan terms, including your repayment schedule, and ensure you understand everything you agreed to.

You're not required to accept an approved loan and shouldn't feel obliged to make an uncomfortable decision. Instead, let them know if you need more time, and they will let you know how long you have to accept the offer.

Once you accept the offer, most lenders have the money in your account in 24 hours or less. Some do this through an online transfer, while others provide a check for you to take to the bank.

Personal Loans 

If you have an emergency and don't have savings, a personal loan allows you to set up a repayment plan without offering collateral. They tend to have flexible schedules and simple processes; you can use them for almost anything.

Uses for Urgent Loans

It's essential only to use a loan when you need it. The most common instances include:

  • Medical or dental expenses
  • Unexpected repairs to your home or vehicle
  • Emergency vet costs
  • Unplanned moving
  • Covering rent or mortgage while you seek another solution
  • Funeral/burial expenses

Loans are not a long-term solution to replace proper financial habits and planning.

Final Thoughts

No one is safe from emergency expenses, and getting an urgent loan with bad credit can worsen a stressful situation. If you find yourself in this predicament, remember to treat yourself kindly and move forward through these steps with a clear mind and intentions.

It may not be the easiest thing you've done, but there are plenty of opportunities to help you handle your emergency. Getting a fast loan with bad credit does require a different strategy, but if you look at your lenders and see if you qualify, you'll be much closer to your goal.

About this blog

Browse through the Blog to read articles and tips on managing debt, improving your credit and saving more money!