Are you looking for the most suitable deal on a personal loan for bad credit? Struggling to find out a reliable direct lender to avail those loans? Well, you need us now.
FastenLoans is a pioneer in the loan and financial marketplace. We leverage technology and intermediate between the lenders and the borrowers. We follow a transparent and honest approach keeping in mind both parties.
Moreover, we deal with regulated lenders to safeguard the interest of our borrowers and connect them with no hiccups. We believe in empowering our borrowers to make an informed decision and suggest the most suitable loans depending upon the information provided.
Our main focus is on finding instant solutions and aligning the interest of both parties in one direction.
Furthermore, we offer long term assistance and ensure customer satisfaction. Our website takes you through all the available options and helps you find quickly what you are looking for. As a broker, we aim at:
Since we follow a transparent approach, you can easily calculate the loan and the repayment amount.
How much can you borrow?
Calculate the borrowing amount based on your affordability Calculate your repayment amount based on your loan amount and interest rateAffordability Calculator
How much do you have to repay?
Calculate your repayment amount based on your loan amount and interestRepayment Calculator
Technology has revolutionized the financial landscape, and you can easily find us by searching “personal loans for bad credit near me”. As a borrower, you are free to make your own choices, and many people do so.
However, we have the expertise to guide and assist you every time you are not clear about the lender and the loan options.
We have access to information that may not be listed on the lender’s page or is not easily available. As a broker, we are familiar with the approval criteria of the lenders and, at the same time, understand the specific needs of our borrowers.
To make you feel confident about your borrowing, we take charge as your loan guide. At FastenLoans, we ensure you end up dialling in the right option as per your needs.
We offer several other advantages such as:
You may be looking for personal loans for bad credit with direct lenders only to fund a large purchase. Directly interacting with a lender may land you in confusion.
But as a broker, FastenLoans assists you in finding loans that help you fund the project that you can’t afford upfront and small projects with competitive interest rates.
Following are the common reasons to avail of a personal loan for bad credit:
Going for a single monthly payment is an affordable decision. Debt grouping simplifies your repayment time frame. Also, you are left with lower rates post your debt consolidation.
Do not wait for your line of credit or a home equity loan. Personal bad credit loans can be used to upgrade your home or complete necessary repairs.
Wanderlust is irresistible, and you can cater to it with your personal loan. Moreover, you have the leverage to fund your dream vacation. Keep the repayment option in mind as soon as your vacation gets over.
Your personal loans can help you manage your wedding expenses, such as decorations, wedding outfits, food, jewellery, and much more.
Alternative to payday loan
A personal loan for bad credit can be an alternative to the payday loan saving you thousands of dollars.
A personal loan application is evaluated on several parameters. Your credit score is a crux of your past credit, repayment history etc.
Does that mean that bad credit lowers the chance of getting a personal loan? Well, the answer is no. You are still eligible for a personal loan despite a bad credit score by taking a few measures.
Here are some tips for you:-
Apply for a lower loan amount
A higher amount makes you appear riskier to the lender. You can be cautious and apply for a lower loan amount. Further, this will reduce the risk of default on repayments.
Prove that you can repay the EMIs
Despite your bad credit score, the lenders offer you a substantial loan amount if your earnings have an upward trend. Your Equated Monthly Installment (EMI) affordability is directly proportional to your loan approval chances.
How Much Can I Borrow in case of Bad Credit?
Referring to the bad credit score, the lenders may be cautious. But that does not lower your borrowing chances.
You can also borrow very bad credit loans from direct lenders. Several popular lenders are listed with us that offer loans to individuals with bad credit. The loan amounts start at $1000 to $10000.
Yes, you can be offered loans with no credit check, and they are secured loans. Pledging collateral against the loan offering reduces the risk associated with your borrowed amount. Collateral is any asset tied up with your loan.
Default gives the lender the right to sell the asset to get back the loan amount. No credit check is carried out in this case.
We will try our level best to get back to you with some reliable deals from our list of lenders. They can guarantee affordable personal bad credit loans with no credit check.
A quick solution to your financial commitments is a bad credit personal loan in case of bad credit. The loan is helpful in several situations and can be a great way to cater to your expenses.
Along with advantages, personal loans for bad credit come with certain risks too. Few drawbacks should be kept in mind while borrowing:
Restore Your Credit
By making timely payments, you can move in the direction of rebuilding your credit score. This indicates easy situations for the next time.
Once your loan is approved, focus on timely repayments towards the outstanding balance. You can slowly build up your score by being a responsible borrower.
Managing Difficult Circumstances
A personal loan for bad credit can help you smoothly sail through your rough patches.
It will not vanish your debt but will bring order to chaotic situations. You can use your loan amount and sail easily through difficult financial times.
Flexibility and versatility
Personal loans offer you versatility and flexibility. As mentioned above, you can use the given funds as per your need. From debt consolidation to buying a vehicle, the loan amount will prove beneficial for you.
Provide Fast Access to Cash
Once your application is processed, and the loan is approved, you instantly get access to cash. Therefore, if you are going through an unexpected expense, a personal loan is the right option for you.
When it comes to documentation, most lenders follow a simple pattern. This can make the situation easy for you. Furthermore, it helps speed up the loan process and disbursal of funds.
Accrue High-Interest Charges
While most personal loans involve low APRs, some may carry high-interest rates.
Depending on your current situation, there may be higher interest rates than the other available options, such as 0% APR credit cards, home equity loans, and student loans.
Fixed repayment terms
Unlike other credit options, personal loans operate with a monthly fixed repayment amount. The amount is agreed upon at the beginning of the loan process.
Applying for a personal loan for bad credit makes you qualify for a lower interest rate. Along with a co-borrower, there are increased chances of approval.
With bad credit, a co-borrower with a good credit history is an add-on to your loan application process.
The applicant can be from your families, such as your spouse or parents. In some cases, your siblings are also considered as co-borrower.
We help you compare the best available personal loans and ultimately get the lowest personal loan rates from leading lenders.
We work with lenders that offer 100% transparency and have a long track record of successful lending and satisfied customers. Using our loan comparison tool, you can find the right personal loan and eliminate the hassle and guesswork involved in your borrowing.
|Parameters||With FastenLoans||Without FastenLoans|
|Time-saving||One-stop solution offers competitive rates from numerous lenders all in one place||A time-consuming process by interacting with individual lenders|
|Fee involved||Displays the best suitable rate as per your preferences and needs with no fee||Involves high commissions and fees|
|Options||Access and tie-ups with regional and local lenders offer a plethora of options||Having no access to the ground level apart from out of range lenders|
In case of payment default, you can expect late payment charges. These costs have to be paid along with the amount due. It also affects your credit score.
Once your loan is approved, you will instantly get access to your loan amount. You will receive your funds in your bank immediately.
FastenLoans works with local, regional as well as huge lenders. We offer you with best deals that are tailor-made as per your needs.
Since we have a vast network, you get various options to choose from. Also, a comparison tool is available wherein you can check and make the right decision.
The membership that we offer is easy and simple. After your loan is finalized, we will walk you through the simple membership process. Anyone can join and unlock several other benefits.