Loans for Bad Credit

We understand a low credit score can make it difficult to get an affordable loan so we don't base our funding decisions exclusively on FICO® credit scores or credit history. OppLoans only performs a soft credit check when you submit an application, which won't negatively impact your FICO® score.2

Why choose OppLoans for a loan if you have bad credit?

If you have bad credit, we may be able to help you! Through our commitment to customer service and our lending partners, we help consumers turned away by traditional providers be empowered to improve their financial health. Here are just a few reasons to choose the OppLoans platform for your funding needs:

  • Easy to Apply: Apply online from start to finish with our simplified application process.
  • Same-Day Funding Available: If approved, you may receive money in your account as soon as the same business day!1
  • Top-Rated, Personalized Service: Speak with a real person. Trust our Application Advocates to be with you from application through payoff.
  • No Hidden Fees: No origination fees. No application fees. No prepayment penalties. You’ll know what to expect from the products offered on our platform.
  • Build Credit History: OppLoans is committed to the financial health of its customers. We report your payment history on behalf of our lending partners to the three major credit bureaus. On-time payments may help boost your credit history.6

What is a bad credit loan?

A bad credit loan is for someone whose credit score isn’t high enough to receive a loan from a traditional financial institution. OppLoans does not offer Bad Credit Loans. Instead, the products offered through our platform look beyond your FICO credit score to analyze your overall creditworthiness when it comes to an online personal loan. The credit check we perform on behalf of our lending partners will not appear as a hard credit inquiry on your credit report, so applying won’t negatively impact your FICO score.2

What is considered bad credit?

In a nutshell, bad credit is when your credit score is too low for you to qualify for a standard loan. A bad credit score is typically considered a FICO score under 670. Your payment history and credit utilization are two of the major factors used to determine your credit score.

Missed payments, maxing out your credit cards, and filling out too many loan applications are unhealthy financial habits that can hurt your credit score and stand in the way of obtaining credit. Unfortunately, lenders view borrowers with low credit scores as less likely to pay back their debts.

But bad credit scores don't have to hold you back. We understand a low credit score can make it difficult to get an affordable loan so we don't base our funding decisions exclusively on FICO® credit scores2 or credit history.

What makes up a bad credit score?

There are multiple factors that make up a credit score, including, but not limited to:

  • How long you’ve had credit
  • The amount you owe
  • The amount of your available credit you are using
  • The types of credit you have (e.g., credit cards vs. installment loans)
  • How much new credit you have
  • If you’ve paid your debt on time

What should be considered when choosing a loan for bad credit?

You don’t have to struggle to find a bad credit loan. Below are a few factors to consider when applying for a loan with bad credit:

  • Repayment terms: Your monthly loan repayments should fit nicely into your budget. Affordable repayments can help you successfully pay off your loan.
  • Fees and penalties: Prepayment penalties, late fees, and origination fees.
  • Annual percentage rate (APR): APR stands for Annual Percentage Rate and is your true cost of credit stated on an annual basis.
  • Credit building opportunities: Paying on time should earn you the credit you deserve. Choose a lender who reports repayments to the credit bureaus.

Types of loans for bad credit

Championing your finances means knowing your options. With that in mind, read on to learn about some of the major categories of  online loans.

Tribal Loans

Some online loan platforms are owned by sovereign Native American tribes. OppLoans is not a tribal lender.

Payday5 Loans

Many payday loan providers have moved online. A payday loan is typically a two week loan, secured by the borrower’s paycheck. Payday loans carry an average interest rate of 400%. These high interest rates and short terms make for an inadvisable combination.

OppLoans is not a payday loan provider. Through the OppLoans Lending Platform, borrowers will get a maximum APR less than half the average payday loan.

Loan Matching

Some online loan platforms are loan matching services. This typically means a borrower can supply some of their financial information and view a list of potential matches to find an online loan provider. Some online loan matching services are reputable, but others are not. OppLoans is not a dedicated Loan Matching Service, but for customers who opt-into our Turn Up Program, we check the market for lower cost loans with approximately 15 near-prime lenders on their behalf, before presenting an offer through OppLoans’ platform.

Offshore Loans

An online loan provider based in another country or offshore is subject to the rules and regulations of the country in which they’re based. This can increase the risk to borrowers in the United States. The OppLoans Lending Platform is proudly based in Chicago, Illinois.

How to choose the best loan for bad credit

Doing your homework before applying for a bad credit loan can make getting a loan hassle-free.

  1. Learn your credit score: Banks and credit card companies may be able to provide your score for free. Otherwise, you can obtain it from FICO.
  2. Research lenders: No two lenders are the same. Every lender will have their own criteria for qualifying. Find the best deal by comparing lenders that work with your credit score.
  3. Ready your application materials: Details like your annual income, Social Security number, and employer information will help expedite your application process.


When matched with the right lender, a bad credit loan is comparable to a standard online personal loan. OppLoans offers online personal loans designed to give you an affordable monthly repayment. Most of our loans typically have an 18-month repayment term, depending on the state you live in.4 Find out the specific rates and terms in your state here.

Unsecured loans don't require collateral to guarantee a loan offer. OppLoans does not require collateral for loan approval or payment.

OppLoans does not do a hard credit inquiry during the loan application process. When you apply for a loan with us, your credit score is not affected.2

OppLoans is committed to the financial health of its customers. We report your payment history with us to the three major credit bureaus, so every on-time payment you make may help boost your credit history.6

Depending on your state and your income, you may qualify for a loan between $500 and $4,000.4 Your loan amount will be determined by several factors, including your state of residence, income, ability to repay, and creditworthiness.5

For a state-by-state guide, please visit our Rates and Terms page.

To start your application, click Apply Now. You cannot submit an application over the phone, in person, or via email. If you have any questions regarding the application process, please Contact Us and our Advocates will assist you.

Yes! OppLoans is legitimate and is not a scam. OppLoans is one of the highest-rated companies in the non-prime consumer lending space. OppLoans has an A+ rating from the Better Business Bureau and is highly rated on Trustpilot and LendingTree for our unmatched customer service. OppLoans has been named on...
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The first step in applying for a loan through OppLoans is to fill out our online loan application. To be eligible for a lending product through OppLoans, potential borrowers must: Be 18 years or older Have a bank account (checking or savings account) Reside in one of the states in...
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We don't have a minimum FICO or Vantage score to qualify for our loan. Instead, we look at various factors from the alternate credit bureaus and your bank data to determine your eligibility.

You cannot co-sign on behalf of another applicant, nor can someone co-sign on your behalf. You must apply on your own to qualify for a loan.

When you receive your funds will vary based on the time at which your application was approved. You will receive an email notification once your loan is approved. Funds may be deposited for delivery to your bank via ACH as soon as the same business day if verification is completed...
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Still have questions? Get in touch

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Applications submitted on OppLoans' website will be originated by one of our lending partners. All loans originated by our lending partners will be serviced by OppLoans.

1Subject to credit approval and verification. Actual approved loan amount and terms are dependent on standard underwriting guidelines and credit policies. Funds may be deposited for delivery to your bank via ACH as soon as the same business day if verification is completed and final approval occurs before 12:00 PM CT on a business day. If approval occurs after 12:00 PM CT on a business day or on a non-business day, funds may be delivered as soon as the next business day. Availability of the funds is dependent on how quickly your bank processes the transaction.

2OppLoans may use credit report information provided by Clarity Services and Experian as part of the application process to determine your creditworthiness. Neither credit inquiry will appear as a hard credit inquiry on your Experian credit report and therefore they will not affect your FICO score.

4Installment loan amounts typically range from $500 to $4,000. Annual percentage rate (APR) ranges from 160% to 179%. Installment loan lengths range from 9 to 18 months. Example: A $2,000 installment loan repayable in 9 monthly payments would have an APR of 160% and monthly payments of $394.58. Loan amount may vary by state, please see for additional information. This is an expensive form of credit and you should determine whether our product(s) meets your financial needs.

5According to the Consumer Federation America, a non-profit consumer advocacy group, payday loans range in size from $100 to $1,000, depending on state legal maximums, and carry an average annual percentage rate (APR) of 400%. The maximum APR for a loan offered through and serviced by OppLoans is 179% and loan sizes range from $500 to $4,000.

6OppLoans reports customer payment history to the three major credit bureaus. On-time payments may improve credit score.


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