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Quick Loans For Bad Credit

With many quick loans bad credit is actually not a problem – the loans themselves are the problem. In many cases, borrowers wind up in worse circumstances than they were before they borrowed the money. They are either trapped in an ongoing cycle of debt or left to deal with the loss of valuable personal property (or even a family heirloom). LoanNow is different. Our mission is to provide you with the money you need with repayment terms you can live with.

loansThe Problem with Bad Credit

Bad credit is often a self-perpetuating problem. If you have bad credit, merchants and banks often refuse to do business with you. If they do consent to do business with you, it is often on very unfavorable terms. You pay more, you have less time to pay, and you’re given less in quantity than customers that merchants and lenders consider to be more desirable.  There is no doubt that if banks offered quick loans bad credit would present a serious impediment – if not act as an absolute deal breaker.

The High Price of Quick Loans

Of course, banks do not offer quick loans. In fact, banks are often notoriously slow in processing loan applications. This situation presents a problem for many would-be borrowers with excellent credit, but it’s especially difficult for so-called subprime borrowers. It’s no coincidence that many individuals who have bad credit find themselves in situations where they need money quickly. Many unscrupulous lenders are well aware of this fact and take advantage of it. For such lenders offering quick loans bad credit provides them with a justification to charge high interest rates or to impose predatory lending terms. They know that many of their target borrowers are not only desperate for cash, but have few or no other resources for obtaining funds.

Putting Your Possessions at Risk

Pawn shops offer quick loans for bad credit, but only if you have valuable merchandise to provide as collateral. What pawn shops consider valuable covers a fairly narrow set of categories. Diamond and gold jewelry? Absolutely. Your brand-new iGadget or top of the line laptop? No question.  Your collection of Beanie Babies or your really pretty cubic zirconium tennis bracelet? Um, not so much.

Pawn shops also lend only a fraction of the value of the property that you’re putting on the line. That tablet you bought for several hundred dollars will likely only be good for a loan well under 100 dollars. Pawn shops also allow borrowers a short window to repay their loans, plus interest or risk losing their property for good.

Falling into a Trap 

Quick loans for bad credit are a specialty of payday lenders, many of which boast that “your paycheck is your credit.” As it turns out, that claim is true. Payday loans are structured so that it is almost impossible to pay the full amount on the specified due date. Between ridiculously high interest rates and unrealistically short repayment periods, many borrowers are drawn into a trap of rollovers, partial payments, and loan balances that get larger, not smaller, even while they are making regular payments.

Placing Your Relationships in Peril

Quick loans for bad credit occur fairly frequently between friends and family members. That’s because very few such loans involve any sort of credit checks. Instead, the “underwriting” for such loans is largely based on trust and a genuine desire to help. But too often things go wrong. Some borrowers deliberately duck out on their obligations, but others are simply unable to repay what they owe. If the loans are relatively small or the lender is in solid financial shape, unpaid loans may not cause much strain. But in many cases, relationships are strained beyond repair.

The LoanNow Difference

LoanNow is a different kind of lender.  Our mission is to help people improve their financial circumstances by providing the money they need along with education on how to handle money batter. We also recognize that many individuals run into financial difficulty because they lack basic knowledge about how money works. So we provide informative information and blog articles to our customers and to the general public.

With LoanNow quick loans bad credit does not automatically disqualify potential borrowers. We look beyond FICO scores to determine an applicant’s overall financial situation. We work with borrowers who run into problems to get them back on track, and reward borrowers who maintain on-time payments 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.