Loans You Can Get With Bad Credit

  • Secured Loans: First, consider applying for a secured loan. A secured loan requires putting down collateral, such as a car, jewelry, or house, in exchange for the loan. Using collateral can reduce the risk for the lender and make them more willing to approve your application.
  • Subprime Loans: Another option is to apply for a subprime loan from a specialty lender that works with borrowers with bad credit. Remember that these loans often come with higher interest rates and fees, so it’s important to carefully review the terms before agreeing to them.
  • Personal Loans: You may also want to try applying for a small personal loan from a credit union or online lender. While they may have stricter eligibility requirements than some subprime lenders, they may offer better rates and terms overall.

Alternative lending options, such as peer-to-peer lending platforms or borrowing from family and friends, are also worth considering.