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Bank Loans For People With Bad Credit

Applying for a bank loan can be challenging under the best of circumstances. Complex applications and lengthy waits are par for the course even if you have nearly perfect credit. Borrowers seeking bank loans for bad credit may find themselves facing stiff challenges in gaining approval.  For many frustrated borrowers, LoanNow represents an option for obtaining the money they need with repayment terms they can live with.

bank loansLow FICO Scores Need Not Apply

It’s well known that prospective borrowers with the best credit profiles and the highest FICO scores qualify for the best credit terms for credit cards, bank loans and other types of credit. They are often courted with offers featuring low APRs and other incentives, including reward programs. By contrast, bank loans for bad credit feature high APRs, with no rewards programs or incentives in sight – if borrowers are approved at all.

Collateral, Please

The truism that bank loans are only offered to people who don’t need the money was never truer than when applied to borrowers seeking bank loans for bad credit. Banks often demand collateral from such borrowers as a requirement for approval. Collateral can be tangible, such as estate jewelry or museum quality art, or a financial instrument such as a certificate of deposit. However, the obvious irony of collateral requirements is that many borrowers seeking bank loans for bad credit have few or no assets available to offer as collateral.

Credit-Worthy Co-Signer Required

Another common feature of bank loans for bad credit is the demand for borrowers to provide creditworthy co-signers as a condition for approval. While some borrowers are able to recruit family members or good friends, it’s really a tough ask. That’s because cosigners are essentially on the hook if borrowers default on the loan. It’s not difficult to imagine that many borrowers are unable to meet this requirement.

The LoanNow Option

Many borrowers seeking loans for bad credit turn in desperation to undesirable sources such as payday lenders, car title loans and pawn shops.  Others give up out of frustration. But with LoanNow, credit problems are not necessarily a deal breaker.  We look beyond your FICO score to consider your entire financial profile. As a result, we are often able to approve many borrowers banks have turned down, even without a cosigner. We never require collateral, regardless of your circumstances.  If you’re seeking a loan with less than perfect credit, why not give LoanNow a try?

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Why LoanNow

  • 5-Minute Application

    All it takes is a few minutes. We’re fast, easy and headache-free.

  • Fast & Easy Approval

    Get your quick loan approval online. Money in minutes. †

  • Deposit to Your Account

    Funds are deposited fast into your bank account! ‡

How It Works

  • Apply Now

    Complete our easy online application. It takes 5 minutes and there is no paperwork and no faxing required.

  • Get Approved

    You will get a quick loan approval decision. We are a direct lender so there is no long wait for an answer.

  • Get Your Money

    We deposit your money right into your bank account. Your installment loan payments come from the same account - automatic, no hassles.

What We're About

  • "We believe we can change the world by helping people with less than great credit get back on track."

    Miron, The Team

  • "Our loans reward you for good behavior instead of trapping you in an endless spiral of interest & penalties."

    Harry, The Team

  • "Our mission is to build the fastest & easiest way to get a loan."

    Jesse, The Team

Grow Your Score

Our personal loans reward you for good behavior instead of trapping you in an endless spiral of interest & penalties. Together, we grow your LoanNow score to unlock better rates.

LoanNow Score

More Resources on Bank Loans For Bad Credit

* Funds will be distributed via ACH. Most banks will post the funds to your account by the next business day. Subject to underwriting approval.

** Subject to online availability and underwriting may request additional items prior to final approval.

† Loan approvals are subject to underwriting criteria and the approval process may take longer if required items are not able to be verified online or additional items are requested.

‡ Funds will be distributed via ACH. Most banks will post the funds to your account by the next business day. One’s bank will determine when funds are actually available.