Loans Approved Today

Get to Yes, Safely and Securely

Unsecured Loans for Bad Credit

People who are coping with bad credit know how difficult and frustrating it can be to get a "yes" from a lender. Moreover, the constant rejection can be humiliating and degrading for subprime borrowers. At Direct Lending Solutions, we list the best companies that will lend money in most states with bad credit allowed and at the lowest rates possible. Before you decide on the type of loan that you'd like to apply for online, it's crucial that you get the facts and research your borrowing options so you can make the best financial decision possible. When shopping for a direct loan, you'll discover quite a plethora, each with varying terms, conditions and interest rates. These factors will cumulatively determine your total expense during the life of the loan.

By definition, a loan is considered to be "unsecured" when it is not backed by personal property as collateral; rather, it is extended to you by the lender with just your signature on a promissory note to repay the money according to specific terms, rates, and a payment schedule. Keep in mind, when you need a loan quickly, cash advances are certainly convenient and easy to qualify for, but we caution that these loans come at a high cost with governing laws that vary from state to state. Although they do serve a valid purpose, they should be used sparingly or for emergencies. The small, short-term loans like the ones we've just described, typically range from $100 to $5,000. For larger amounts, lenders may require better credit scores and a proven ability to repay, such as verifiable employment and adequate income. Amounts above $10,000 will inevitably require "good" credit.

First Choice Loans to $35,000

First Choice connects you with the right lender for your needs. The loan process is quick and simple, with rapid approval in most cases. You will be simultaneously considered for a payday loan alternative in the event that you do not qualify for longer repayment terms. This is a great option if you have poor credit.

  • Bad Credit OK
  • Nothing to Fax
  • Terms up to 60 months
  • Instant Decision
  • High Approval Rates
  • Funded Within 24 Hours

Apply Now

Applying will NOT impact your credit score!


Is Having "No Credit" the Same as Having "Bad Credit"?

There are considerable differences between having bad credit and the mere lack of an established credit history. Many young people who are just starting out, for example, may not yet have a sufficient credit profile, and this is not the same as earning a lengthy, bad-credit profile marred by poor debt management, late payments, collections, and excessive spending accounts. Your credit is scored by the credit bureaus based on account handling. Theoretically, a person with a newly established credit history and only one or two accounts contained in the credit profile could have a "good" score. However, the folks who lend the money typically look at more than just your credit rating. They will see additional information, such as the length of time since credit was first established in your name, for instance, and may reject your application for a large loan amount until you have gained more credit experience. This situation is called "insufficient credit" and this condition may exist simultaneously with a good credit score (i.e., you can have a high credit score and still have insufficient credit for the purposes of a particular credit application.)

Granted, the outcome of a loan application submitted by someone who does not have a sufficient credit history can be the same as that for a bad credit line. However, the processes to remedy the two are entirely different. The person with a bad credit history has their work cut out for them; they must change their spending and repayment habits, bring down their debt ratio, and improve their overall handling of accounts. It can take a very long time for changes in spending and account management to have a positive impact on a credit score. On the other hand, the young person who is simply lacking a credit history can take steps to create a positive credit profile, such as obtaining a small loan, or a low-limit unsecured or secured credit card.

A lender will often work with those who are just starting out to help them obtain a reasonable line of credit within their budget, enabling them to establish a credit file. If you find yourself in this camp, take care of your accounts from the beginning; you don't want to go from "no credit" to "bad credit" because you made some careless errors from day one with the handling of your new credit card or loan account. Above all, keep your spending under control. The ideal credit utilization ratio (the ratio of your used credit to the total available) should be 30% or less. If you find yourself maxing out your cards and making late payments, your credit score will suffer and you will not be able to purchase the larger items that really matter.


Frequently Asked Questions

How long does the application process take?

Typically, your online loan application will be reviewed and processed within a few hours.

Will the application affect my credit score?

A soft credit inquiry may be necessary to verify your identity, but this will not cause further damage to your credit score. A verifiable means of loan repayment is required.

Is the loan form secure?

Yes. The loan application is secured by 256-bit SSL encryption technology.

What is the interest rate on the loan?

At competitive rates, a typical installment loan APR will range from 6.50% to 39.99%, depending on the lender and your credit score. Following quick approval, your lender will review the interest rate with you in detail. If your credit is bad, or if you opt for a payday loan, your interest rate will be considerably higher.  Your loan officer will go over the options, rates, and terms in detail.

Are there any upfront fees?

Applying for a loan is free of charge and there are no upfront fees. Remember, legitimate lenders never charge fees in advance of a loan


Beware of Loan Scams

Protect yourself and your finances from fake lenders and low-life scammers. Make sure to read up on scam techniques, such as their use of legitimate company names and logos, stolen from real loan companies, in order to hide their illegal operation. Educate yourself about foreclosure fraud, advance fee loan scams, and identity theft, so you'll be better able to recognize red flags when you see them. You will be able to fend off the bad guys who take advantage of the desperate and vulnerable.