Introduction
If you have a low credit score, getting approved for a personal loan can feel impossible. But thankfully, many lenders offer installment loans for bad credit—designed to help borrowers rebuild their credit while accessing the funds they need. Whether it’s for medical bills, car repairs, or unexpected emergencies, bad credit installment loans USA give you a second chance with monthly payments and flexible terms.
In this guide, we cover 9 reliable installment loan options available in the USA that accept bad credit, offer fast approval, and report to credit bureaus—helping you rebuild your financial future.
Quick Summary: Best Installment Loans for Bad Credit
Here are some top picks for installment loans for bad credit in the USA:
SpeedyFundsNow – Same-day funding and easy application
Upstart – AI-powered approvals for poor credit borrowers
LightStream – Low interest for strong applicants with bad credit
Avant – Direct lender with flexible repayment terms
Happy Money – Great for credit card consolidation
SoFi – No fees and career coaching benefits
Avant Personal Loans – Customized options for low credit borrowers
Happy Money (again) – Listed twice due to popularity
LendingPoint – High approval rates for fair credit
Universal Credit – Credit-building and free financial tools
What Are Installment Loans for Bad Credit?
Installment loans for bad credit are personal loans repaid in fixed monthly payments over a set period. They're ideal for individuals with poor or no credit history who need access to cash and want predictable repayments. Many online lenders now offer guaranteed installment loans for bad credit with fast approvals and minimal paperwork.
1. SpeedyFundsNow
Website: https://www.speedyfundsnow.comContact: [email'protected] Amounts: $100 – $5,000APR: Varies by stateWhy Choose Them:
Offers direct lender installment loans bad credit
Quick and paperless application process
Same-day funding
SpeedyFundsNow specializes in emergency installment loans for bad credit borrowers in the USA. With a streamlined application process and minimal credit requirements, they’re ideal for those who need cash urgently.
2. Upstart
Website: https://www.upstart.comContact: [email'protected] Amounts: $1,000 – $50,000APR: 6.4% – 35.99%Why Choose Them:
AI-driven approval model
Great for online installment loans for poor credit
Upstart uses alternative data (education, employment) to approve borrowers with low FICO scores. It’s a leading platform for fast approval installment loans USA that don’t rely solely on credit history.
3. LightStream
Website: https://www.lightstream.comContact: [email'protected] Amounts: $5,000 – $100,000APR: Starting at 7.49% with AutoPayWhy Choose Them:
Offers low interest installment loans for bad credit
No fees and same-day funding
LightStream offers competitive terms for borrowers with decent income and stable history, even if credit is below average.
4. Avant
Website: https://www.avant.comContact: [email'protected] Amounts: $2,000 – $35,000APR: 9.95% – 35.99%Why Choose Them:
One of the top installment loans bad credit no credit check alternatives
Flexible repayment periods
Avant provides customized loan offers to borrowers across the credit spectrum. It’s one of the most accessible options for monthly payment loans for bad credit.
5. Happy Money
Website: https://www.happymoney.comContact: [email'protected] Amounts: $5,000 – $40,000APR: 11.52% – 24.81%Why Choose Them:
Excellent for debt consolidation
Offers long-term installment loans for bad credit
Happy Money partners with lending institutions to offer fixed-term loans to consolidate credit card debt.
6. SoFi
Website: https://www.sofi.comContact: [email'protected] Amounts: $5,000 – $100,000APR: 8.99% – 25.81%Why Choose Them:
No origination fees or prepayment penalties
Member benefits like job coaching
SoFi is great for financially responsible borrowers who want low fees and more than just a loan.
7. Avant Personal Loans (Duplicate of #4)
Reiterating Avant’s strength for direct lender installment loans bad credit, especially for those with a stable income but a damaged credit history.
8. Happy Money (Duplicate of #5)
Reinforcing its popularity for low interest installment loans for bad credit, especially for debt consolidation and budgeting.
9. LendingPoint
Website: https://www.lendingpoint.comContact: [email'protected] Amounts: $2,000 – $36,500APR: 7.99% – 35.99%Why Choose Them:
High approval rates
Fast decisions and funding
LendingPoint specializes in helping those with credit scores in the 600s or recovering from financial setbacks.
10. Universal Credit
Website: https://www.universal-credit.comContact: [email'protected] Amounts: $1,000 – $50,000APR: 11.69% – 35.93%Why Choose Them:
Access to credit-building tools
Reports to major credit bureaus
Universal Credit offers more than just a loan. With free credit monitoring, educational tools, and consistent payment reporting, it helps rebuild financial health over time.
Pros & Cons Comparison Table
Lender
Loan Range
APR Range
Key Benefit
Drawback
SpeedyFundsNow
$100 – $5,000
Varies by state
Same-day funding
Not available in all states
Upstart
$1,000 – $50,000
6.4% – 35.99%
AI-based approvals
Higher APR for low scores
LightStream
$5,000 – $100K
From 7.49%
No fees, low interest
Requires strong profile
Avant
$2,000 – $35K
9.95% – 35.99%
Accessible to most borrowers
Charges admin fees
Happy Money
$5,000 – $40K
11.52% – 24.81%
Debt consolidation focus
Limited use cases
SoFi
$5,000 – $100K
8.99% – 25.81%
No fees, extra benefits
Requires fair/good credit
LendingPoint
$2,000 – $36.5K
7.99% – 35.99%
Fast approvals, flexible credit standards
High max APR
Universal Credit
$1,000 – $50K
11.69% – 35.93%
Credit-building features
Origination fee applies
FAQs About Installment Loans for Bad Credit
1. Can I get installment loans with bad credit and no credit check?Yes, some lenders offer no credit check installment loans, but they may come with higher interest rates. Always check for direct lenders with transparent terms.
2. Are these loans guaranteed for approval?While no loan is truly guaranteed, some providers offer guaranteed installment loans for bad credit with soft checks and high approval rates.
3. How fast can I get the money?Many lenders like SpeedyFundsNow or LendingPoint offer fast approval installment loans with same-day or next-day disbursement.
4. Can I pay back in monthly installments?Yes, all listed options allow monthly payment loans for bad credit, which helps in budget planning.
5. What’s the minimum credit score required?Lenders like Upstart and Avant may approve borrowers with scores as low as 580. LightStream and SoFi prefer higher scores.
Conclusion
If you're facing financial difficulty, these installment loans for bad credit options can provide relief while helping you rebuild your credit over time. With flexible repayment terms, fast approvals, and trustworthy lenders, getting a loan doesn’t have to be out of reach.
Choose the lender that best fits your needs and apply confidently today.
Need fast, reliable cash with easy terms? Explore your options now with SpeedyFundsNow and others.
