Obtaining a personal loan with a low credit score can be next to impossible. Lenders generally determine APR by looking at a potential borrower's credit history, as an indicator of their ability to repay the loan. Since personal loans are unsecured by collateral, such as a car or house, lenders can be leery of providing them, unless you have a really good credit score. However, some lenders do offer loans to people with bad credit, and at rates that aren't predatory, on the strength of a steady income and low debt levels.

Top 4 Personal Loans for Bad Credit

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9.7 / 10

Even Financial is free service with extensive connections to every major alternative finance lender. Through their platform, they can match borrowers with the right loan at the best rate, no matter how high or low their credit score, as their options range from excellent (760 or more), good (700-759), fair (640-699), or poor (less than 640). After inputting some basic information, Even Financial quickly shows borrowers the top results for the lenders that can match the type, size, and requirements. In the eventuality that they can't get the borrowers pre-approved instantly through their lenders, they still try to provide them with another product that may be useful, such as a debt consolidation program or a free credit report.

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9.4 / 10

Discover lends to borrowers with fair to good credit scores. One of their best features, if the personal loan is being taken out to consolidate debt, is that Discover will pay creditors off directly. They also provide free tools to help manage debt and estimate monthly payments. Their minimum income requirement is also quite reasonable, starting at just $25,000 per year. They're also among the small number of online lenders that don't charge an origination or prepayment fee, and allow payment flexibility. Finally, Discover personal loans are consumer-friendly, with a very short time to funding.

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8.6 / 10

LoanStart isn't a lending site in and of itself, but they do match borrowers with a vast network of reliable affiliate lenders. Their streamlines, online process makes it quick and easy to get paired with a loan provider. You are then redirected to the provider's site to finalize the details of your loan and finalize the agreement. Every individual lender has different credit score requirements, interest rates, applicable fees, and timeframe for repayment; but none asks for collateral. LoanStart is a virtual one-stop shop in which various lenders compete to offer the best rates to borrowers, which is not only convenient, but can also result in obtaining better loan terms than otherwise possible.

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9.2 / 10

Guide to Lenders makes lenders compete for your business, but also provides educational resources, via their valuable guides and information, as well as no-strings attached, free access to your credit. They help borrowers make informed decisions through their articles, calculators, glossary, and more. After filling out a short form, Guide to Lenders puts you in contact with flexible borrowers, some of which offer loans to people with poor credit scores of less than 599.

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