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Money Lenders For People With Bad Credit

When you have bad credit, dealing with financial emergencies frequently becomes an exercise in frustration. Many desperate borrowers seeking a money lender for bad credit resort to dealing with undesirable options. But for many savvy borrowers, LoanNow represents a better choice for obtaining the money they need.

money lenderBanks and Bad Credit

Counting on a bank as a money lender for bad credit is nearly always wishful thinking. That’s because banks rely heavily on FICO scores and credit reports in making lending decisions.  Prospective borrowers whose credit is marginal or fair may be approved by providing collateral or a credit worthy cosigner (or both).  However, if your credit is truly bad, you’re pretty much out of luck, although on rare occasions exceptions are made. Those instances tend to involve longtime customers or individuals with compelling explanations for their credit problems, such as serious health problems or job loss.

Pawn Shops

Many desperate borrowers have turned to a pawn shop as a money lender for bad credit. Pawn shops don’t run credit checks and provide loans with no questions asked, provided that you have property to offer as collateral.  Gold and diamond jewelry and high end electronics are particularly prized. On the other hand, your Beanie Baby collection probably won’t generate much interest.  Pawn shop loans typically cover only about 25 to 30 percent of the actual value of the property you surrender. Loans must be paid in full with interest within 30 to 60 days or you can kiss your possessions goodbye.

Payday Lenders

Payday lenders do not run conventional credit checks, so your FICO score is of little or no importance. If you have a steady job and an active bank account, you can often count on a payday lender as a money lender for bad credit, good credit or no credit at all. However, payday loans are aptly named, because they are usually due, in full, along with hefty interest charges on the date you receive your next paycheck. The average repayment period for payday loans is about 14 days, but some payday loans have repayment periods as short as 10 days.

Many borrowers find that they are unable to repay their loans for the same reason they needed the loans in the first place – they’re dealing with financial hardship. Payday lenders respond by imposing partial payments and rollovers, which are essentially refinanced loans with a fresh set of interest charges and administrative fees. Rinse and repeat a few times and it’s easy to understand how borrowers can be caught in an endless cycle of debt.

The LoanNow Alternative

At LoanNow, we believe there’s a better way. Instead of chasing a money lender for bad credit, why not check us out? You may find that your credit isn’t as bad as you think. We look beyond FICO scores and credit reports to consider your entire financial profile. We’ve approved many applicants who were turned down by banks. And LoanNow never requires collateral, plus we say NO to rollovers. Instead, our loans are structured with manageable monthly installments that work with your budget.  For many savvy borrowers, LoanNow is the go-to source for personal loans

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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

* 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.