You don’t have to be disappointed about not being able to get a loan even if you have a poor credit score. Many established online lenders are offering loans for people with bad credit. Both secured and unsecured bad credit loans are available in the market. The following are the top 5 lenders that offers bad credit personal loans.

1. OneMain Financial

OneMain offers secured personal loans for people with bad credit. You will have to provide a collateral such as car, or motorcycle with the appraisal value equivalent to the value of your loan amount. OneMain offers a loan amount in between $1,500 – $25,0000. The loan amount you can apply for varies from state to state. The origination fee for the loan is at least $25. Smaller loans will get charged with a more expensive origination fee. They will assign you an APR that is in the range of 25% – 36% after reviewing your credit report.

2. Avant
Avant offers unsecured personal loans for people with credit score in the range of 580 – 700. Avant offers a loan amount of up to $35,000 and the APR starts from as low as 9.95%. You can choose a loan term in between 2 – 5 years. It can release the funds on the next business day after the loan approval. Avant personal loans is available in 47 states in the USA.

3. Signature Loans Network

Signature Loans Network describe on their website some of their lenders are offering bad credit personal loans for people with a credit history of at least 5 years. The loan amount it offers is in between $500 – $35,000. The interest rates is about 24% – 36% which is lower than other types of bad credit loans. You can choose from a repayment term in between 1 – 5 years. Signature Loans Network allows you to use a co-signor to get a loan approved. You don’t need a collateral for working with most lenders in their network

4. LendingPoint

LendingPoint offers unsecured personal loans for borrowers that have fair to poor credit score. You need to have a minimum credit score of 600 and receive an annual income of $25,000 to apply for a loan at LendingPoint. With LendingPoint, you can borrow an amount in between $3,500 – $20,000. The APR rate for the personal loan is in between 17.46% -35.99%. LendingPoint is only available in 17 states in the USA.

5. Peerform

Peerform is a p2p lender that offers personal loans for people with a low credit score of 600. Peerform offers a loan amount of up to $25,000. In Peerform, it takes an average of 2 weeks for a loan to become funded. Peerform loans are available in 37 states in USA. The origination fee for the loan is 5%.

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