It is quite difficult to have the money needed to satisfy pressing needs at all times, which makes the only option be to go for a loan. It is however more difficult when an individual has bad credit, needs cash badly and does not qualify for a loan, because most loan providers would not consider loan applicants who have bad credit. Another option that comes to mind may be ‘to take a title loan or a payday’ which is eventually shrugged off because of the high cost or risk of putting your asset at risk. Thus, the task of securing a short term loan with bad credit remains daunting.

However, while a lot of short term loans for bad credit abound, the following should be observed before an application for a short term loan with bad credit is forwarded:

  • Ensure that the lender you are forwarding your application to does business in your state
  • Find out what is being said about the short term loan service they provide (i.e reviews for ‘better business bureau’ and independent customer reviews). This would help you in deciding whether the service provided is best for you
  • Do not settle for the first loan provider you come across, as there may be a better loan provider. So, the best thing is to have information about a lot of providers, then choose which is best for you.
  • Bear in mind the penalties and fees attached to each of the loans offered. Read the agreement form thoroughly before you sign, to avoid undesirable and exorbitant monthly payments and penalties.

Find below, a list of some of the best short term loans for bad credit in 2018.

  • Avant

This loan provider is well known to provide customers with a satisfaction rating of about 95%. The loan application process is straight forward and upon approval of the submitted application, the amount applied for, is deposited into the applicant’s account in as little as a business day.

You could apply for amounts ranging from $2,000 to $35,000 with repayment term ranging from 2 to 5 years. However, if you have less than a perfect credit, your interest rate would be around 35% to 36%, which is relatively low in comparison with other loan providers that render service to applicants with a bad credit.

It is however interesting to know that, there is no minimum credit score requirement to qualify for loan application, but, most borrowers have credit scores that range from 600 to 700. Also, no prepayment penalty would apply if you are able to improve your credit early. Click here.

  • Lending point

This loan provider might be best suited for you if you have a credit score around the 600s and need cash badly, to settle some pressing needs. They provide loans of up to $25,000 with interest ranging from 17.46% to 35.99%. The amount applied for may be available in your account within the next business day.

You could check your eligibility without tampering with your credit score by using the online tool managed by Lending point services. To get started, you would fill in your desired loan amount, your annual income, purpose of the loan and a few personal details to confirm your identity. Once your application has been approved, and the information you provided has been verified, you would receive the amount you applied for without any delay. Repayment of the loan ranges from 24 to 48 months. However, a short term loan would most likely be paid back within 24 months.

  • One Main financial

This loan provider offers services to consumers with less than perfect credit score. With a bad credit score, you could be eligible for loan amounts ranging from $1,500 to $25,000, and interest rates charged is between 17.59% and 35.99%.

It should be noted that, there is no minimum credit score to qualify, but your income and expenses, financial history, loan purpose, credit history and state of residence are evaluated during the application process. Depending on your financial status, you may be required to provide a source of collateral to secure the loan. You could check your eligibility for this loan, by using their online tool. On approval, you will be prompted to visit a specified location, meet with a loan specialist to review your offer. Other particulars that would be verified include: employment, your identification, and income documentation If at the end of the meeting, you are qualified for the loan, you would walk out with funds you have requested. More details in site:

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