For a very long time, it used to be an extremely uphill challenge for borrowers to be able to secure a loan with a bad credit score. Even today, most traditional lenders like banks and credit unions are still reluctant to approve loans, but luckily, it is easier than ever to get fast cash loans here from CocoLoan that do well to bridge this gap.
This form of financing provides consumers with a fast and convenient way to secure funding, no matter what their credit score may be. And since they are typically processed faster than most conventional loans, this makes them well-suited for dealing with financial emergencies like sudden medical bills, unexpected car repairs, etc.
However, the problem with the online lending market is that it is overpopulated, which means that finding a reliable and trustworthy loan provider can often be tricky. That’s why we prepared a list of 5 of the best places to apply for online fast cash loans, which should save you the trouble of shopping around for a lender on your own.
- CocoLoan – Best overall for large fast loans up to $35,000
- WeLoans – Offers competitive rates and terms for fast cash loans
- UnityLoan – Top choice for speedy loan processing
- HonestLoans – Best overall option for small fast loans up to $5,000
- US Installment Loans – Multiple loan products are available
1. CocoLoan
CocoLoan is an online credit broker that connects borrowers with industry-leading lenders that are willing to offer fast cash loans, even to those with bad credit. With a loan approval rate of nearly 97%, the service has built a stellar reputation for being a reliable credit service that can secure large amounts of money in a hurry.
Its lending network allows borrowers to access loan amounts as high as $35,000, which makes it well-suited for borrowers who may be looking to consolidate high-interest debt, pay for home renovations, or even finance a new car.
According to Sarah Ross, the co-founder of CocoLoan, “Our partner lenders do not limit what you can use the money you borrow for, so you can feel free to request funding to deal with pretty much any type of financial emergency.”
CocoLoan also has a streamlined application process that makes it extremely easy to secure a fast cash loan with minimal effort. All you usually need to get started is to submit a few personal and financial details, and within minutes you will be matched with a suitable lender.
If approved, you will receive multiple loan offers, each with its own rates and terms. Once you agree to accept a loan offer, you can typically expect to receive your funds by the next business day.
Best Aspects
- High approval rates
- High loan limits
- Easy application process
Worst Aspects
- High interest rates
2. WeLoans
When it comes to securing favorable loan rates and terms, WeLoans is the top choice to use when borrowing fast cash loans. With an extensive lending network that spans over 100 lenders, borrowers are able to find and secure themselves competitive loan offers, even with a bad credit score.
This is because its partner lenders don’t determine the terms of your loan solely on your credit score, but take into consideration other factors such as your income level, employment status, debt-to-income ratio, etc.
You can also rest assured that their lenders will only conduct soft credit checks when verifying your loan request, so you don’t have to worry about any negative hits on your credit report.
In terms of loan amounts, borrowers can access loans of up to $35,000, with all approved funds processed as soon as the next business day. It is also one of the most secure lending sites, as all its partner lenders have been vetted to ensure that you don’t fall victim to any unscrupulous or predatory lending practices.
Best Aspects
- Wide loan network
- Bad credit allowed
- Competitive loan rates and terms
Worst Aspects
- High late payment fees
3. UnityLoan
UnityLoan is mostly suitable for those who are in urgent need of money. It is an online lending service that caters to borrowers of all credit types and facilitates instant funding of up to $5,000.
The company’s partner lenders will often facilitate same-day funding, with all online applications being reviewed almost instantly. The service also doesn’t come with any strict eligibility requirements, as you only need to be over the age of 18 or older, have a steady source of income, be a US citizen, and have an active bank account.
In addition, you don’t need to put up any collateral, let alone deal with any hidden costs or fees, as the service is entirely free to use from start to finish. And since the lending service is accessible 24/7, this means that you can apply for funding at any time or day.
And while the service does also cater to bad credit borrowers, it is important to keep in mind that the loan amount you will ultimately qualify for may vary depending on your creditworthiness and level of affordability.
Best Aspects
- Speedy loan processing
- Caters to bad credit borrowers
- Accessible 24/7
Worst Aspects
- Not available in some states
- Low loan limits
4. HonestLoans
If you have bad credit but are looking to borrow a small cash loan from a trustworthy lender with good rates and terms, then HonestLoans is a good choice to consider. They are partnered with over 80 loan providers, most of whom specialize in providing fast cash loans up to a maximum of $5,000.
The platform also doesn’t charge borrowers any hidden fees or costs, which does well to cater to any first-time bad credit borrowers looking to secure themselves an online loan. On top of that, HonestLoans has a strict privacy policy that ensures any data you share via their site is not sold to or shared with any third parties other than the lenders in their network.
As such, you can feel free to provide them with your information and wait for them to find you a suitable lender that best fits your budget and requirements.
Best Aspects
- Trusted and reliable loan network
- Favorable small loan rates and terms
- Strict privacy policy
Worst Aspects
- Low loan limits
5. US Installment Loans
US Installment Loans is a free online lending service that does well to connect borrowers to a wide variety of loan products due to its network of reliable and licensed lenders.
Some of the loans that you can access include bad credit loans, payday loans, installment loans, quick loans, and more. This makes it a great place to secure a line of credit that perfectly suits your current budget and specific needs.
Also, given that US Installment Loans has been in the industry for a few years, it has managed to successfully build a strong online reputation, with borrowers able to access loans as high as $35,000.
If approved for a loan, the funds will usually be transferred in as little as 24 hours, and since the site is mobile-optimized, you can apply using your phone or tablet at any time and from anywhere. In addition, they also use bank-level encryption on their site to protect your private information from any unauthorized access.
Plus, they even have a reliable customer service team that is highly responsive and remains available 24/7 to provide you with any assistance that you may need while using their service.
Best Aspects
- Multiple loan products
- High loan amounts
- Reliable customer service
Worst Aspects
- No guarantee of loan approval
