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Better Personal Loans for Fair Credit from LoanNow

Personal loans for fair credit are available from a number of sources, including banks, credit unons and finance companies. For borrowers seeking quick money payday loans and even pawn shops are possible candidates. But LoanNow may be the best possible choice for personal loans for fair credit.

Banks and Credit Unions Will Need Collateral or Cosigner

Personal Loans for Fair CreditIf you have fair credit, banks may require you to provide either collateral or a credit-worthy cosigner to be approved. If not, you’ll almost certainly have to pay higher interest rates than someone with good or excellent credit. Credit unions are somewhat more lenient in their underwriting standards, and borrowers with fair credit stand a decent chance of being approved without collateral or a co-signer. Because of their nonprofit status, credit unions frequently offer somewhat lower interest rates on personal loans for fair credit borrowers than banks do.

Finance Companies can Charge Higher Interest Rates

Finance companies are a more likely source of personal loans for fair credit borrowers than banks. Like credit unions, they frequently have somewhat more lenient lending requirements than banks. Personal loans for fair credit borrowers are more likely to be approved by finance companies without co-signers or collateral. But finance companies also charge higher interest rates than banks or credit unions.

Payday Loans Expect Full Payment on Your Next Pay Check

The main factor in favor of personal loans for fair credit borrowers for from payday lenders versus bank loans is speed. If you’re facing a financial emergency, you may not be able to wait weeks for a response from a bank. Payday lenders do not run conventional credit checks through any of the three main credit reporting agencies: TransUnion, Equifax or Experian. Instead, their lending decisions rely almost solely on whether you have a steady job or other reliable source of regular income.

Personal Loans for Fair Credit But repayment periods for payday loans are almost as fast as their payouts: you’re usually expected to repay your loan in full on your next pay date. If you’re paid every week, that means you could be facing a due date just a few days after receiving your money. If you can’t afford to pay in full, your loan will be renewed – essentially rolled over into a new loan with new fees and interest charges. Rinse and repeat several cycles and a loan of only a few hundred dollars could explode into a debt of four figures.

LoanNow is a Different Kind of Lender

LoanNow understand that you often can’t afford to wait weeks for a loan. So we process nearly all applications within 24 hours. † If you’re approved, you could have your money within minutes, *if your bank participates in our innovative Instant Funding system. And we say no to rollovers and hidden fees. Instead, we work with you if you fall behind on your payments. If you maintain consistent on-time payments, we reward you with lower interest rates on future LoanNow loans. Why not experience the LoanNow difference for yourself!

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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.

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* 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.