Best Loans With No Credit Check For People with Bad Credit and Guaranteed Approval. Top Lenders For Online Loans

As the economy has been shaking during the past few years, average Americans also experience instability and note that their financial situations are getting worse. Along with this, the number of people with poor credit scores is also growing as it becomes harder to maintain a normal lifestyle. This way, bad credit borrowers may feel frustrated when they need a personal loan with no cosigner or collateral. Luckily, online loans with no credit check come to the rescue to fill the gap for people who can't qualify for assistance aid from traditional financial institutions.

If you wonder where you can get urgent cash from a direct lender with guaranteed approval, our rating is right for you. Let us introduce you to the best services offering no credit check loans with instant approval decisions and same-day payouts.

The 3 Best Bad Credit Loan Companies for No Credit Check Loans (Guaranteed Approval)

Not all direct lenders are the same. And sometimes, it's tiresome and confusing to see the difference and make the right decision. But here's the list of platforms that can help you with this task:

1.    1F Cash Advance – No credit check loans with guaranteed approval
2.    ASAP Finance – Best no credit check loans online
3.    15M Finance – Get up to $2,500 loan with no credit check

#1. 1F Cash Advance – Best Loans for People with Bad Credit in The Overall Rankings

1F Cash Advance holds the crown for the best bad credit loans of various kinds. This is due to the fact that the company knows for sure what it is looking for in partners and replenishes its base with only those service providers that meet its expectations and share its goals. Thus, direct lenders here don't have strict demands on your credit score and financial situation. The platform knows what is important for you, so it organizes the whole lending process in a way to make it understandable, fast, and stressless.

"We're not aimed at making money from our customers, so our service is absolutely free for them. We want to help those who need financial support but can't get it in the way that is usual for people with good credit scores. We try to anticipate the needs of our clients before they even realize them. We are constantly progressing to be one step ahead and offer those products that could completely replace traditional loans for people with low credit scores." – Kerry Vetter , the finance author and expert of 1F Cash Advance.

Quality Rating: 4.8/5

1F Cash Advance is recognized #1 connecting service with a quality rating of 4.8 out of 5 that includes the following:
•    Customer service: 4.3/5
•    Customer support: 5/5
•    Acceptance rate: 96%
•    Loan decision speed: 4.9/5

Features

Your bad credit score is not a problem

You can borrow money from a lender with any value of your credit rating. Even if you have no, bad, or poor credit score, 1F Cash Finance is the place where you can get help.

The base of reputable lenders only

There are no scammers or predatory lenders in the company's database. Although each lender may offer different loan conditions, they are all trusted.
Fast loan processing

It takes about an hour to check complete verification due to the lack of hard pulls. You will get a guaranteed loan approval decision on the same day.

#2. ASAP Finance – Best for Guaranteed Installment Loans for Bad Credit with No Credit Check
 

At ASAP Finance , they know how to support you when storm clouds are gathering and you need a little help to save your day. The company provides loans with no credit check from direct lenders that are licensed and have imposing experience in the bad credit lending field. As an absolute majority of bad credit borrowers’ loan requests are approved, their loans are almost guaranteed, with just a few eligibility criteria to meet to qualify.

"We want people with bad credit to have a choice and be able to get better loan terms rather than accept offers of predatory lenders out of desperation. We offer a full range of no credit check loans for customers with bad credit scores and try to make our financial products obtainable and fair." – Kathryn McCoach, the managing editor and expert writer at ASAP Finance.

Quality Rating: 4.7/5

The total quality appraisal of ASAP Finance equals 4.7 out of 5. The result is the arithmetic mean of the following parameters:
•    Customer service: 4.6/5
•    Customer support: 4.8/5
•    Acceptance rate: 92%
•    Loan decision speed: 4.8/5

Features

Competitive interest rates

You can get the funds without paying much interest rates and fees in the end. The service is known for its reasonable loan costs, which are quite typical for the types of loans the company offers.

Only soft credit checks are performed

Your credit history is free from danger. A no credit check loan doesn't involve a hard pull that can hurt your credit.

Lenders don't care about your credit score

You don't need to have a flawless credit history to qualify. Whatever your credit rating is, it's enough to apply, provided that you meet other simple requirements.

#3. 15M Finance – Best Loans for Bad Credit with Instant Approval
 

If it's important for you to get a loan decision as soon as possible to avoid anxiety, 15M Finance is the platform with strict requirements for the speed of loan processing. Thus, a lender that wants to partner with the company is obliged to send loan decisions almost instantly, typically within less than one hour. You will get an email with an answer, and if it's positive, the money will be funded as soon as the next business day. Plus, having a bad credit score is not a barrier. 15M Finance is the place where they are always ready to help and willing to treat you with kindness.

"Being attentive and having a sincere desire to assist are things that really matter when you work with people who are in a vulnerable position. Your problems are important to us, and we want to help you solve them efficiently. Our clients help us to become better by giving us an understanding of what a financial product should be in order to meet their needs. So, our loans are easy to get. They are fast and very affordable." – Shania Brenson , the founder of 15M Finance.

Quality Taring: 4.6/5
15M Finance earns 4.6 out of 5 in total quality rating and closes our top 3. This grade is based on the following values:
•    Customer service: 4.4/5
•    Customer support: 4.6/5
•    Acceptance rate: 95%
•    Loan decision speed: 4.7/5

Features

No demands on your minimum credit score

Whether you haven't built your credit yet or made a few mistakes that dropped your credit score, it doesn't matter. You're welcome to apply for a cash advance loan with imperfect credit or without it.

Funding terms strike with their speed

Loan funds will be credited to your bank account by the end of the next business day. You don’t even need to leave your place to get the money.
A simple application process

To get a no credit check loan online, you should spend about 5 minutes filling out an online loan request form. It's as simple as two times two.

Why Are Hard Credit Checks Performed?

A hard credit check is a way to find out whether or not it is risky for a financial institution to lend you money. Banks perform credit checks to get access to your payment and credit history and review how good you are at managing your financial obligations over a given period of time. Some records in your credit report stay there for two years, while other information (for example, bankruptcy) remains for seven to ten years. By accessing these financial details, banks or credit unions can estimate the probability of debt recovery and decide on giving you a loan.

Hard Credit Check vs. Soft Credit Check

Unlike a hard check, which is typical for a bank loan, a soft check is commonly conducted by no credit check lenders when you're going to get a bad credit loan. Also, such pulls can be performed by landlords or employers before renting you an apartment or hiring you.

Soft checks don't involve requests to major credit bureaus. That is why they are not displayed in your credit report. They are also much faster, so it makes the process of obtaining no credit check loans quicker. Thus, if you have a poor credit history and want to receive the money the next day or faster, you'd better consider options that don't require a hard inquiry.

What Are No Credit Check Loans?

No credit check loans are emergency borrowing options for people who find it difficult to get personal loans from traditional lenders. They are called emergency loans as they allow borrowers to go through the whole loan process, from applying to receiving money, within one business day. It becomes possible due to replacing hard checks with soft pulls, which are much faster and easier to conduct. Thus, there is no detailed verification of your financial situation that can get in the way of receiving a loan. This way, it becomes possible to get no credit check loans on the same day.

No credit check loans are considered bad credit loans, as online lenders ignore your credit history and consider your monthly income as a determining factor. Most no credit check cash advances are unsecured, and don't use your property as a return guarantee. But there is a fly in the ointment, which is a loan cost. Loans for bad credit with no credit check usually have high interest rates, so it is recommended to choose them cautiously.

How Do Loans for Bad Credit with No Credit Check Work?

Although bad credit loans with no credit check are of various kinds, their working mechanism is typically the same. Let's find out how no credit check loans work:
1.    You fill out an online application form on a lender's website or in a store.
2.    Depending on the type of service provider you choose (a direct lender or connecting company), your request is either verified by the specific lender or sent to a database of lenders, one of which takes your request for consideration and performs a quick soft check through open sources.
3.    Once a decision is made, the lender sends you a response, typically by email. If a decision is positive, you need to review your loan documents and sign a loan agreement to accept all the loan terms.
4.    Finally, you will get the loan amount in your bank account within the agreed period, typically one business day.

What Are My Options for Online Loans with No Credit Check?

Online no credit check loans imply a group of financial products, not a single option. Therefore, you'd better learn more about all the available types of no credit check loans to find the one that fits you most.

No Credit Check Payday Loans

If you need a financial product that can meet your short-term needs, payday loans are the first that come to mind. Payday loans are small unsecured cash advances that you can get till your next paycheck to cover cash shortages or up to $1,000 unexpected expenses.

As payday lenders are specialized in short-term assistance, a payday loan must be repaid in full shortly after your next payroll date comes. Online payday loans (guaranteed approval) are one of the easiest to get loans but have a drawback in the form of high interest rates.

Cash Advance App Loans

Use a cash advance app to apply for bad credit loans when you need to solve your problems immediately, and there's only your cell phone by hand. Cash advance apps often offer loans with more favorable interest rates and serve as a convenient alternative to a website application. You can download it on your smartphone and use it at any moment it may be necessary. You will no longer have to search for a lender. The app will always be on your phone ready to assist.

Guaranteed Installment Loans for Bad Credit

Installment loans are debts that you can repay in part by making convenient monthly payments. Personal installment loans are a great option for customers with bad credit scores who are limited in finances and want to access a more affordable form of financial assistance. If your monthly income is enough to cover your obligations, you can get up to $5,000 and make your installment loan payments within up to 24 months.

Personal Loans Online for Bad Credit

Instead of applying for traditional personal loans and making their credit scores go down, bad credit score borrowers can get personal loans online from direct lenders. These personal loans are easier to get with a poor credit score as they don't involve a hard credit inquiry. The amounts you can obtain are limited to $15,000, with repayment terms of up to 60 months.

Auto Title Loans

A title loan is a secured loan that is backed with a pledge, typically a vehicle. Like payday loans , title loans usually have terms that are up to 31 days, and the money must be repaid in full in one payment. Otherwise, a lender can confiscate your car.

Ways to Use Online Loans for Bad Credit

Online loans for bad credit don't restrict you in terms of your loan purpose. However, these options are costly and limited in terms and loan amounts, so there are many inappropriate reasons for getting them. People with poor credit ratings are more likely to use no credit check loans (guaranteed approval) in the three following ways:

Cover Financial Emergencies

These include your medical bills, utilities, car breakdowns, other loan or credit card payments, or some major repairs.

Cover Daily Expenses

When you don't have enough money to fill the car or buy food due to unexpected expenses or income fluctuations, a bad credit loan can help you out.

Make Debt Consolidation

No credit check loans can be used as debt consolidation loans if they bring you some benefits in this case. For example, they can make it easier to manage your finances or have lower interest rates than your existing debt.

Things to Know About Bad Credit Loans with Guaranteed Approval

To make an informed decision, consider the following facts about guaranteed approval loans:

1.    Bad credit loans with guaranteed approval have one major drawback, which is their price. Interest rates on guaranteed loans are higher than average, so don't be surprised that bad credit personal loan conditions won't be as advantageous as bank loans offer.

2.    When you apply for bad credit personal loans online up to $5,000 , a lender may contact you after submitting a form to clarify some details or request additional documents. Therefore, try to stay in touch until you get a loan decision.

3.    No credit check loans with guaranteed approval are not quite what they are called. In fact, they are subject to a soft credit check, which can result in a loan denial. The word "guaranteed" refers to a loan decision that you will receive after a completed check.

How to Get No Credit Check Loans Online?

First, you need to meet eligibility requirements that are quite simple. Commonly, if you're an adult US resident with an active bank account, valid ID, and income of at least $1,000 per month, you can qualify with ease, even if you have a bad credit history.

Once you have determined that you meet the lender's requirements, you're welcome to apply by filling out a loan application form. Keep your cell phone available and wait for a response from a lender. After it sends you a loan offer, sign a loan agreement and wait for the money to arrive in your bank account on the next business day.

Conclusion

Although loans with no credit check have high interest rates, they may be the only options for some groups of people, for example, those with bad credit scores. They are also useful when you need to borrow money fast and have no time to go through a hard verification process. This way, they are like any other form of debt. It may help you in solving your problems if you use it in a proper way.

However, loans for bad credit with instant approval are still debt, even if they are much easier to obtain. Therefore, you need to take it seriously and make sure you can afford the online loan that you're going to obtain. Even if you get an unsecured loan that doesn't carry a risk of losing your property, you can face high penalties in case of non-payment, or your account may be sent to collections. 

FAQ

Where to Find Trusted Bad Credit Direct Lenders?

As no credit check loans are now quite popular, you can find many direct lenders throughout the country on the Internet. However, not all lenders offer equal loan terms. Some of them may have higher interest rates and charges or more stringent requirements. It’s easy to get confused while selecting an online lender to work with. This way, you can turn to connecting platforms that will help you find a reliable loan provider with the best possible loan conditions.

Can I Access Personal Loans with Bad Credit?

Sure, you can get personal loans with bad credit from both traditional and online lenders. However, their loan offers will be different. Traditional loan providers are more likely to offer you secured loans and run hard credit checks. Online direct lenders can offer you both secured and unsecured loans without reviewing your credit report details through major credit bureaus.

Is It Possible to Get a Loan with No Credit Check?

A no credit check loan refers to a cash advance that you can get without affecting your credit score. This means that a lender won't make a hard pull to find out your credit status. However, soft credit checks are still performed by direct loan providers as they want to estimate their chances of getting money back from you. This way, you will go through some kind of check in any case, although such a pull is nothing to worry about.

Can I Get a Bad Credit Loan Through Cash Advance Apps with No Credit Check?

Cash advance apps with no credit check are an alternative to a website. They are more convenient to use when you apply with the help of your cell phone, not a personal computer. Thus, you can get a no credit check loan through a cash advance app in almost the same way as if you applied through the website.