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Jordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top perf...
Jordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top perf...
Jordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top perf...
Jordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top perf...
Colin Beresford is a writer and editor experienced in helping people make the best decisions with their money, whether it's buying a car or taking on a loan. He has written for Bloomberg, The Associated Press, NerdWallet, Car and Driver magazine, amo...
Colin Beresford is a writer and editor experienced in helping people make the best decisions with their money, whether it's buying a car or taking on a loan. He has written for Bloomberg, The Associated Press, NerdWallet, Car and Driver magazine, amo...
Colin Beresford is a writer and editor experienced in helping people make the best decisions with their money, whether it's buying a car or taking on a loan. He has written for Bloomberg, The Associated Press, NerdWallet, Car and Driver magazine, amo...
Colin Beresford is a writer and editor experienced in helping people make the best decisions with their money, whether it's buying a car or taking on a loan. He has written for Bloomberg, The Associated Press, NerdWallet, Car and Driver magazine, amo...
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
A personal loan is one of the most versatile forms of credit available. You can use the funds to cover unexpected emergency expenses, large purchases or even to finance a vehicle. Although qualification requirements vary, you should be able to find a lender that will work with you even with a damaged credit score. Here are six lenders that offer some of the easiest personal loans to get.
Our editors are committed to bringing you unbiased ratings and information. Our editorial content is not influenced by advertisers. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the loans methodology for the ratings below.
Unlock the equity in your home to resolve credit card debt
Max Loan Amount: $150K
Pros:
Fixed rates lower than personal loans
Fast funding in 15 days or less
Fast, easy digital application
Access credit line for debt consolidation, credit card refi, and more
Cons:
Not available in all states
Details:
Secured loans with the help you need
$15k-$150k loan amount
80% CLTV
10.25%-16.50% APR
Disclaimer
Home Equity loans are available through our affiliate Achieve Loans (NMLS ID #1810501). All loan requests are subject to eligibility requirements, application review, loan amount, loan term, and lender approval. Product terms are subject to change at any time. Offers are a line of credit. Loans are not available to residents of all states and available loan terms/fees may vary by state where offered. Line amounts are between $15,000 and $300,000 and are assigned based on product type, debt-to-income ratio, and combined loan-to-value ratio. Minimum 640 credit score applies for debt consolidation requests, minimum 700 applies for cash out requests. Other terms, conditions and restrictions apply. Fixed rate APRs range from 8.75% – 15.00% and are assigned based on underwriting requirements; offer APRs include a .50% discount for automatic payment enrollment (autopay enrollment is not a condition of loan approval). Example: average HELOC is $57,150 with an APR of 12.75% and estimated monthly payment of $951 for a 15-year loan. 10, 15, 20, and 30-year terms available (20 and 30 year terms only available for cash out requests). All terms have a 5-year draw period with the remaining term being a no draw period. Payments are fully amortized during each period and determined on the outstanding principal balance each month. Closing fees range from $750 to $6,685, depending on line amount and state law requirements and typically include origination (3.5% of line amount) and underwriting ($725) fees if allowed by law. Property must be owner-occupied and combined loan-to-value ratio may not exceed 80%, including the new loan request. Property insurance is required and flood insurance may be required if the subject property is located in a flood zone. You must pledge your home as collateral. Contact Achieve Loans for further details.
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
Upgrade was launched in 2017 and provides accessible online and mobile credit and banking services. Since that time, the platform has made more than $3 billion in credit available to over 10 million applicants and continues to expand its online and mobile services. Although maximum APRs are on the high end compared to other online lenders, Upgrade makes loans available to those with poor credit history.
Loans amounts, which range from $1,000 to $50,000. Upgrade has two to seven years terms available. Upgrade charges an origination fee between 0% and 12% of the loan, and borrowers will encounter a $10 fee if their payment is more than 15 days late or if the payment does not go through; there are no discounts for autopay. That said, Upgrade borrowers are not subject to a prepayment penalty, so you can reduce the overall cost of the loan if you’re able to pay it off early.
Beyond offering accessible personal loans, Upgrade streamlines the lending process with a mobile app that lets borrowers view their balance, make payments and update personal information. Upgrade’s Credit Heath tool also makes it easy to track your credit score over the life of your loan.
Pros & Cons
Low minimum credit score requirement
Borrowers can use loans to cover business expenses
Offers direct lender payoff for debt consolidation loans
High APR range
Charges fees for origination, late payment and insufficient funds
Details
Overview: Upgrade was launched in 2017 and provides accessible online and mobile credit and banking services. Since that time, the platform has made more than $3 billion in credit available to over 10 million applicants and continues to expand its online and mobile services.
Upgrade charges an origination fee between 0% and 12% of the loan, and borrowers will encounter a $10 fee if their payment is more than 15 days late or if the payment does not go through; there are no discounts for autopay. That said, Upgrade borrowers are not subject to a prepayment penalty, so you can reduce the overall cost of the loan if you’re able to pay it off early.
Beyond offering accessible personal loans, Upgrade streamlines the lending process with a mobile app that lets borrowers view their balance, make payments and update personal information. Upgrade’s Credit Heath tool also makes it easy to track your credit score over the life of your loan.
Eligibility:
Minimum credit score: 300
No minimum income requirement
Allows co-applicants
Loan uses:
Debt consolidation
Home projects
Large expenses
Business expenses
BEST FOR FAST FUNDING & BELOW-AVERAGE CREDIT
LendingPoint
4.0
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
LendingPoint is an online lender based in Atlanta that offers personal loans to prospective borrowers in 48 states and Washington D.C.; it does not offer loans in Nevada and West Virginia. Prospective borrowers in eligible states can apply online and benefit from quick funding.
LendingPoint personal loans range from $2,000 to $36,500; Georgia loans have a minimum loan amount of $3,500. Repayment terms range from 24 to 60 months—or two to five years.
There are two main disadvantages to LendingPoint: high maximum APRs and origination fees. While you can typically avoid high APRs by maintaining a high credit score, LendingPoint origination fees (0% to 7%) depend on the state you live in.
Pros & Cons
Quick funding
Low credit score requirements
No prepayment penalty
Origination fee up to 10%
Co-signers or joint loans not permitted
Not available in Nevada and West Virginia
Details
Eligibility: To qualify for a LendingPoint personal loan, you must have a minimum credit score of 600 and live in one of the 48 eligible U.S. states or Washington D.C. Loans are not available to prospective borrowers in Nevada or West Virginia.
Turnaround time: Once approved, you could receive your funds as soon as the next business day.
BEST FOR COMPARING MULTIPLE OFFERS
Universal Credit
3.5
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
Universal Credit is an online lending platform that offers personal loans between $1,000 and $50,000 through its partners. Repayment terms range from 36 to 84 months—or three to seven years.
While Universal Credit makes finding a personal loan accessible even to those with damaged credit, it comes with a few tradeoffs. First, it charges high APRs, well above the most competitive rates seen on our list. Second, Universal Credit charges a 5.25% to 9.99% origination fee on all personal loans. Because this is deducted from your loan proceeds, you’ll need to factor this in when determining your loan amount to ensure you receive the necessary amount after the fact.
Pros & Cons
Flexible qualification requirements
Next-day funding
No prepayment penalty
High APRs
All personal loans charge a 5.25% to 9.99% origination fee
Details
Eligibility: Universal Credit requires a minimum credit score of 580, making it suitable for a wide range of borrowers.
Turnaround time: Once approved, Universal Credit will send your funds to your bank within one business day. However, the availability of your funds depends on how quickly your bank can process the transaction. If you’re using funds to directly pay off another creditor, it may take up to two weeks.
BEST FOR QUICK APPROVALS
Upstart
3.5
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
Upstart has made a mark on the personal loan space because of its artificial intelligence- and machine learning-based approach to borrower qualification. In fact, Upstart estimates that it has been able to approve 27% more borrowers than possible under a traditional lending model. With competitive APRs, Upstart is not a top lender for borrowers who can qualify for more competitive rates. Even so, the platform’s minimum 600 credit score makes it an accessible option to those with fair credit.
Upstart also offers a pretty flexible range of loan options, with amounts ranging from as low as $1,000 so you don’t have to borrow (or pay interest on) more than you really need. And, while Upstart’s loans cap out at $50,000—lower than some lenders—this is likely to be enough for many prospective borrowers.
Even though Upstarts three- and five-year loan terms are more restrictive than other lenders, it’s likely to be an acceptable tradeoff for applicants who might not be approved in a more traditional lending environment. Plus, it’s available in every state except West Virginia and Iowa, so it’s as widely available as many other top lenders.
Pros & Cons
Accessible to borrowers with fair credit
Offers prequalification with a soft credit check
Ability to choose a custom payment date
Charges an origination fee up to up to 12% of the loan amount
No secured or co-signer option
Loans only available for three- or five-years terms
Details
Eligibility: Upstart stands out because it uses an AI-based platform to consider a range of non-conventional variables when evaluating borrower applications. And, while the platform advertises a minimum credit score of 300, Upstart may even accept applicants who don’t have enough credit history to have a score. When evaluating prospective borrowers, Upstart considers college education, job history, residence, debt-to-income ratio, bankruptcies and delinquencies and number of credit inquiries.
Borrowers also must have a full-time job or offer starting in six months, a regular part-time job or another source of regular income—with a minimum annual income of $12,000. Co-signers and co-applicants are not permitted.
Loan uses: Upstart’s personal loans can be used for credit card and other debt consolidation, special events, moving and relocation, medical and dental costs and home improvements. In contrast to many other traditional and online lenders, Upstart also lets borrowers use personal loan funds to cover educational expenses (except in California, Connecticut, Illinois, Washington and the District of Columbia).
Upstart borrowers cannot use personal loans to finance illegal activity or purchase weapons, firearms or illegal drugs.
Turnaround time: Upstart provides next-business day funding for borrowers whose loans are accepted before 5 p.m. Eastern time Monday through Friday. Loans that are approved after 5 p.m. are typically funded the following business day, or the day after that. That said, Upstart reports that 99% of loan applicants receive their money one business day after accepting their loan terms. Loans for education-related expenses may take up to an additional three business days after loan acceptance.
BEST FOR A RANGE OF REPAYMENT OPTIONS
Avant
3.5
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
Minimum Credit Score
580
APR range
If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state.
9.95% to 35.99%
Loan amounts
Example: A $5,900 loan with an administration fee of 4.75% and an amount financed of $5,619.75, repayable in 36 monthly installments, with an APR of 29.95% would have monthly payments of $250.30. If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state.
If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state.
9.95% to 35.99%
Example: A $5,900 loan with an administration fee of 4.75% and an amount financed of $5,619.75, repayable in 36 monthly installments, with an APR of 29.95% would have monthly payments of $250.30. If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state.
$2,000 to $35,000
Editor’s Take
Avant is a consumer lending platform that offers secured and unsecured personal loans through a third-party bank (WebBank). Unsecured loans are available in Washington, D.C. and every state but Hawaii, Iowa, New York, Vermont, West Virginia and Maine. The platform specializes in middle-income borrowers with fair to good credit and only requires a minimum score of 580 to qualify.
Maximum loan amounts are low compared to other lenders, but the low minimum amount and flexible repayment terms (two to five years) make it an accessible option for borrowers. However, as with many loans for subprime borrowers, Avant personal loans come with a price. In addition to charging an administrative fee of up to 4.75% of the loan amount, Avant’s APR range (9.95% to 35.99%) is on the high end for applicants with a good to excellent credit score—and there is no autopay discount. Still, the platform earns top marks for borrowers with less than stellar credit who need quick access to funds.
Pros & Cons
Secured and unsecured loan options available
Low credit score requirement (580)
Loan terms available up to 60 months
Charges an upfront administrative fee
High starting APR for prime borrowers
Co-signers and co-applicants not allowed
Details
Eligibility: Avant aims to provide credit services to a range of customers, including those with fair credit. For that reason, Avant has a minimum credit score requirement of 580, with the average borrower score between 600 and 700. Likewise, Avant focuses on low- to middle-income borrowers and has a minimum income requirement of just Does not disclose, though most borrowers have an average household income of $40,000 to $100,000.
To expand eligibility, Avant also will consider more than just your employment income, including alimony and child support, and may include the income of other people within your household. That said, Avant does not allow co-signers or co-applicants.
Loan uses: As with many other personal loan providers, Avant loans can be used to consolidate debt and pay for things like medical expenses, auto repairs, home improvements moving or vacations and travel. Avant borrowers cannot use personal loan funds to cover business expenses, but the platform does allow current borrowers to refinance their existing Avant loans with another loan—possibly with a lower APR.
Turnaround time: Avant applicants who are approved for an unsecured loan before 4:30 p.m. Central time Monday through Friday may receive their funds the next business day. However, as with other lenders, the funding timeline varies depending on the borrower’s bank. It can also take longer for borrowers who take out secured loans.
BEST FOR ONLINE EXPERIENCE
LendingClub
3.5
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
LendingClub is a peer-to-peer—or marketplace—lender founded in 2007. As the largest online lending platform for personal loans, LendingClub has worked with over 3 million customers and funded more than $55 billion in loans. It’s also one of the most geographically widespread options, with lending capabilities in every state except Iowa and the U.S. territories.
While LendingClub imposes high APRs and no autopay discount, applicants can choose to borrow between $1,000 to $40,000. This is a higher maximum loan cap than some other lenders. That said, LendingClub’s loan terms are limited to two to five years, which is less flexible than other lenders on our list. Borrowers also are charged an origination fee between 3% to 8% of the total loan amount, which is taken from the loan proceeds at funding.
LendingClub also makes debt consolidation easier by offering a balance transfer loan. With this type of loan, LendingClub offers direct payment to third-party lenders, including over 1,700 creditors. Not only does the platform take care of payments for you, you can choose exactly how much of your new loan amount you want LendingClub to pay toward each creditor.
Pros & Cons
Will directly pay off third-party creditors as part of balance transfer loan
Co-applicants permitted
Available to borrowers with fair to excellent credit
Origination and late fees
Limited loan term availability
High APR range
Details
Eligibility: Applicants must have a minimum credit score of 600 and a minimum credit history of three years to qualify for a LendingClub loan. Furthermore, applicants should have a debt-to-income ratio of less than 40% for single applicants and 35% for joint applicants. These factors, including proof of income, help LendingClub’s platform of investors decide who they want to lend to. Co-applicants are permitted but co-signers are not an option for LendingClub borrowers.
Loan uses: Loans issued through LendingClub can be used for more major expenses, including debt and credit card consolidation, home repairs, medical bills and special events. LendingClub also makes it easy to consolidate debt by offering direct payment to third party creditors. Borrowers are restricted from using funds for postsecondary education, the purchase of investments, gambling and illegal activities.
Turnaround time: LendingClub borrowers typically receive their loan funds as soon as four days after loan approval. However, this timeline may vary if an application is complete or if the lender requires additional documentation or verification.
Tips for Comparing the Easiest Personal Loans to Get
Consider these tips when comparing the easiest personal loans to get:
Look at their requirements beforehand. Before you start filling out loan applications, review the lender’s credit and income requirements to see if you’re a good candidate. Some lenders post their requirements publicly on their websites. If you don’t see it listed, you can call the customer service number and ask for the requirements over the phone.
Know how much you need to borrow. Many lenders have strict minimum and maximum loan limits. Before you apply for a loan, it’s important to understand if the amount you need to borrow fits within the lender’s limits.
Compare fees and APRs. The interest rate dictates how much interest you’ll pay during the loan term. The APR is the interest rate plus any fees you’ll be charged. Always make sure to compare lender APRs and not just interest rates.
Figure out how much you can afford to repay. When you apply for a personal loan, the lender typically offers a variety of repayment terms to choose from. Longer repayment terms have lower monthly payments and typically come with higher interest rates, while shorter repayment terms have higher monthly payments and typically come with lower interest rates. Decide what monthly payment you can afford and choose a repayment term based on that amount.
What Makes a Loan Easy to Get?
Personal loans are easy to get when they have flexible credit score and income requirements. While the best personal loan lenders often have high credit score requirements, usually between 600 and 680, some accept scores as low as 560—like those on this list.
Qualifying will be significantly easier if you can find a lender with a lower credit score threshold that specializes in working with borrowers that have damaged credit.
What Are the Easiest Personal Loans to Get?
The easiest personal loan to get is one that has a low credit score threshold, which will vary depending on the lender. However, more often than not, online lenders have less stringent qualification requirements compared to traditional lenders like banks and credit unions. If you know you have damaged credit, you’ll likely have more luck applying for a personal loan through an online lender.
It’s important to note, though, that online lenders that cater to applicants with poor credit typically charge higher interest rates. But your goal when applying for a loan with bad credit shouldn’t be to get the lowest rates possible; it should be to find a lender that can serve your specific financial situation and needs.
How to Get an Easy Personal Loan
While the process varies by lender, follow these general steps to apply for an easy personal loan:
Check your credit score. It’s best to know your credit score before you apply for a loan. You can find your score through your bank or credit card provider, or through one of the many free sites that offer credit scores. Understanding your score can point you in the direction of a lender that can serve you best.
Take time to boost your score, if necessary. If your credit score is below the minimum threshold, take time to improve your score. As a good rule of thumb, make sure there are no errors on your credit report and pay down your balances.
Determine what you can afford to pay. You should understand what monthly payment you can afford before you apply for a loan. Go through your current expenses and income to calculate what you can manage. That will keep you from taking out a loan that you can’t pay back.
Prequalify with multiple lenders. Some lenders offer a prequalification process that lets you see what terms you may receive—if you’re eligible—without hurting your credit score. Prequalifying with multiple lenders is the easiest way to find the best offer for your specific situation.
Submit your application. Once you find and choose a lender that works for you, fill out the formal application. To complete the application form, you’ll have to provide your birth date, contact information, Social Security number (SSN), employment information and other relevant details.
Pro Tip
A rule of thumb is to prequalify with at least three lenders before choosing a loan. This allows you to compare interest rates, fees and terms before signing a contract. Often, lenders let you prequalify to check rate quotes without a hard inquiry, so it doesn’t affect your credit. A hard inquiry typically happens during the underwriting process if you decide to move forward with a loan. At this stage, the lender reviews your finances and measures the risk of lending to you before giving you a final offer and approval.
2 Alternatives to Easy Approval Loans
Consider these alternatives if an easy personal loan doesn’t seem like the right fit for you.
1. Crowdfunding
If you need money and don’t qualify for a personal loan, you might want to consider a crowdfunding site like GoFundMe or Kickstarter. These sites let you raise money for almost any purpose—typically at the cost of a small fee. People often use these sites to raise money for business ventures, medical bills, pet expenses, household emergencies and more.
The money raised in a crowdfunding campaign does not have to be repaid. However, it’s hard to predict how much you can raise and how quickly.
2. Payday Alternative Loan
A payday alternative loan (PAL) is a personal loan from a federal credit union. The interest rate on a PAL is similar to a personal loan, maxing out at 28%. You can borrow up to $2,000 and terms range from one to 12 months.
While the credit score requirements are more flexible than traditional personal loans, borrowers must be members of the federal credit union for one month to become eligible for a PAL. That can be a problem if you need money quickly.
Recap: Easiest Personal Loans to Get In December 2024
Upgrade: Best Overall Installment Loan for Bad Credit
LendingPoint: Best for Fast Funding & Below-Average Credit
We reviewed 18 popular lenders based on 14 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We chose lenders that have a minimum credit score requirement of 600 or lower and ranked them based on the weighting assigned to each category:
Eligibility and accessibility: 30%
Loan cost: 25%
Loan details: 20%
Customer experience: 15%
Application process: 10%
Within each category, we also considered several characteristics, including loan amounts, repayment terms, APR ranges and applicable fees. We also looked at whether each lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated each provider’s customer support tools, borrower perks and features that simplify the borrowing process—like prequalification and mobile apps.
Where appropriate, we awarded partial points depending on how well a lender met each criterion.
Can I get a personal loan without proof of income?
If you don’t have any income, you’ll find it much more difficult to qualify for a personal loan. Proof of income is important to lenders. If you have low income, unstable income or no income at all, you’ll likely need a co-signer or co-borrower to qualify for a personal loan.
What credit score do I need for an easy personal loan?
Exact credit score requirements vary among lenders, but in general, the minimum credit score necessary to get a personal loan is between 580 and 600.
Is a personal loan easy to get with bad credit?
Credit scores are a crucial factor when applying for a personal loan. If you have bad credit, you’ll find it more challenging to get a personal loan. Fortunately, there are lenders who cater to borrowers with bad credit, including those on this list. If you don’t qualify for an easy personal loan, take time to improve your score before reapplying.
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
Jordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top performer in the mortgage industry and his entrepreneurial success to simplify complex financial topics. Jordan aims to make mortgages and loans understandable.
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