4 Best Hardship Loans for Bad Credit  – Blog
Something has happened, and you need some money fast. Maybe a family member is in trouble, but they live far away, and you need to fly or take a bus to see them. Maybe your car has decided now is the time to quit. Or maybe you have suddenly lost your job, and you need some money before unemployment benefits kick in or you start a new occupation. Now, let us assume your credit is not that great. This makes it that much harder to get your hands on a loan that works for you. The good news is that there are several Coronavirus hardship loans for bad credit available to you. You just have to know where to look. Here, you will find four great places to get hardship loans if you need them. So, let us get started.
Top Lenders to Give Hardship Loans for Money Troubles [Bad Credit Score Loans]These types of loans can be a real lifesaver, especially in the event of a job loss or your savings running out. For most of these loans, your approval happens in minutes, thanks to the fast and easy approval process. In most cases, your funds will reach you in 24 hours.
1. MoneyMutualYouâll notice that MoneyMutual has âPayday Loansâ in the title, but donât let that scare you. This is a company we stand by.
- Offers short-term loans, max amount $5K
- You get your money in 24 hours or less
- You can easily compare what the lenders are offering all in one convenient place.
- The form to prequalify takes about 5 minutes to complete
- There are over 2 million satisfied customers, and more are coming every day
- Click here for the official site
These loans are generally ones we say to avoid, but not in this case. These loans are common and are designed to help people make it through to their next payday.They are especially great if youâve used your check to pay all your expenses and have a little left behind when suddenly, an expense pops up out of nowhere. However, the interest rates are still high, even if a reputable lender offers them, so make sure you are capable of repaying them in full on your next check.
Installment LoanThese are to be repaid over time. They are ideal if you have income that comes in regularly- every two weeks, for instance- and are capable of paying them back on time for every installment. Make sure to read the terms of the loan over very carefully; you might end up paying an interest payment or two based upon the loanâs repayment date.
Bad Credit LoansYes, even if you have bad credit, you donât have to worry about getting a loan or not with MoneyMutual. They look at monthly income and other factors to see if you qualify for a loan. If you are unemployed, this could present a roadblock to getting funding. â Visit the official website of Money Mutual
- You can get a loan anywhere from $500 to $10,000
- The funding happens fast, and the forms you need to fill out are easy
- Money will reach you next business day
- Lenders compete to earn your business
- Click here to see the official website
Amounts Offered: $500 to $10K Interest Rates? 5.99% to 35.99% Terms of Loan: 3 Months-72 months Example of Loan: Borrow $4,000 at a rate of 19% APR for 24 months: $201.63/month (Total repaid amount $4839.12) This is a loan marketplace- a network of lenders that work tirelessly to bring borrowers interested in getting some money all options available to them. As is the case with MoneyMutual, theyâre something like a middleman, bringing all offers to you direct and allowing you to pick the one that makes sense to you. You fill out and submit a single application to CashUSA; then, they handle the rest. After that, lenders come your way in just moments, with offers based upon what info you provided. As we did our research for this article, we found that CashUSA doesnât do credit checks for its borrowers. This is great if your credit is bad, but keep in mind youâll be paying high interest rates as a result. So, make sure you read the terms carefully and understand all applicable fees/charges/other costs. At the lowest, loans start at $500, and they max out at $10,000. Interest starts at 5.99% and goes up to 35.99%. Furthermore, you should know that CashUSA is not the servicer or the financier of these loans. If you have a question about your particular loan or its terms, call or email the company that offered you the loan once you were qualified. So, what is the loan process truly like with CashUSA? Itâs easy. You will start by filling out a form first. This just collects all your basic information, such as the last 4 of your SSN, zip code, and birth year. Then, you will click âget started,â This gets you over to the full form, where you will enter even finer details about the loan you want. Youâll also share your bank account info, employer name, and income. Once thatâs complete, you will get the offers coming straight to you. You can then review the terms, amount, and rates associated with that loan. If you decide to use it, you will provide even further info (itâs specific to that particular lender). Then, once the loan is approved, the funds reach you in about 1 business day. Just about everyone can be qualified with CashUSA. You are sure to get approved by one of their loan companies. However, there are some basic requirements you need to meet- for example, you have to be at least 18 years old, have $1K in monthly income, have a phone and email address, be a permanent resident of the US or a citizen and have a checking account under your name. The loan can be used for any reason whatsoever, but itâs important to only use these types of loans for goods/services you seriously need. Also, make sure that if you are taking out a loan like this, you are doing so after exhausting other options such as help from family and friends, personal savings, working side gigs or other jobs to make extra money, or unemployment/public assistance before you apply for a high-interest loan. The loans here should be used for medical, transportation, or housing costs. And even then, there are some limits: for example, do you WANT new glasses, or do you NEED new glasses? Housing could mean a new oven, but is the oven you already have working fine? If itâs not something you desperately need, itâs best to save your money, so youâre not going into debt over frivolous expenses. â Visit the official website of Cash USA
- You can get loans from $250 to $5,000
- Low-interest rates
- Funds reach your account the following business day
- They have helped over 500,000 customers since 1998
- It is OK if your credit is not so great
- Click here to go to the official site