Being stuck with poor credit can be stressful, especially during an emergency when one needs funds. This is exactly where bad credit loans come in. One can consider these loans if their conventional loan applications are being rejected due to poor credit. These loans are available to borrowers with poor credit scores, but they come with tighter terms and higher interest rates to offset the lender’s risk.
Here are some of the best bad credit loans worth checking out.

1. LendingClub
   LendingClub has done very well for itself in providing bad credit loans. The minimum credit score needed for borrowing from this provider is 600. One can borrow anything from $1,000 to $40,000 from this provider and check the interest rates without affecting their credit score through their pre-qualification option. APR ranges from 8.05% to 35.89%, depending on one’s credit, and the repayment term can be 36 months or 60 months. Though LendingClub charges an origination fee of 3-6 percent of the loan amount, it does not charge a penalty for prepayment. Plus, it offers funding in just a few days.
2. Avant
   While Avant’s starting interest rates are quite low, applicants must be prepared to pay higher interest if they are on the lower end of their approval scale. These rates can range anywhere between 9.95% and 35.99%. They also charge an administration fee of up to 4.75%. That being said, Avant offers loans for applicants with credit scores as low as 580, and it’s a good option for those looking to borrow a small amount (between $2,000 and $35,000) for a short period. The loan terms can range from 24-60 months. The company offers fast funding, which means the funds may be credited as soon as the next business day after approval. Additionally, one can set up autopay or use the Avant mobile app to manage their personal loan account from anywhere.
3. LendingPoint
   LendingPoint works with people who have credit scores of 580 or above, and applicants can check their rates online without impacting their credit score. If approved, applicants can borrow from $2,000 to $36,500 through LendingPoint, and the funds are credited as soon as the next business day after approval. The company offers flexible financing options and 9.99% to 35.99% APR. The loan terms can range from 24 to 60 months. Origination and other fees of 0% to 6% may be applicable.
4. OneMain Financial
   The biggest advantage of considering OneMain for a bad credit loan is that there’s no minimum credit score requirement. The company also has a secured loan option to allow for more accessible borrowing. It offers loans starting at $1,500 that go up to $20,000 at 18.00% to 35.99% APR. There are multiple repayment term options—24, 36, 48, and 60 months. The application is fast and easy, with the process lasting a day on average, and borrowers can receive funds by the next business day once their application is approved. On the flip side, the company may charge a flat $25 to $500 origination fee or a percentage-based fee ranging from 1% to 10% of the loan amount, depending on the state.
5. Upgrade
   Upgrade is another excellent option for those looking for a loan with bad credit. It provides funds quickly, and applicants can get the amount in one day. Plus, there are no prepayment fees. One can borrow up to $50,000, with APR starting at 5.94%. That said, the company charges a 2.9% to 8% origination fee on all personal loans. The repayment period is between 24 months and 84 months.

One should always shop around and compare multiple options before picking the best provider offering a bad credit loan.