Best Short Term Loans for Bad Credit 2023: Fast, Safe & Secure Online Options | News Direct

Best Short Term Loans for Bad Credit 2023: Fast, Safe & Secure Online Options BoomPaydayLoans has compiled a list of trustworthy loan application services, with thorough research.

News release by BoomLoans

facebook icon linkedin icon twitter icon pinterest icon email icon San Francisco, Ca | February 20, 2023 11:00 PM Eastern Standard Time


If you are tired of not being able to get a loan because of your bad credit, then you’ve arrived at the ideal place. Because we have built the ranking of the best short-term loans for bad credit - with high limits, low interest, quick approval, minimal requirements and outstanding customer support service.

We’ve carefully analyzed the entire market for this type of loan, and after several days of hard work and analysis with our team of finance professionals, we’ve built a ranking with the top 4 companies that bring short term loans even with bad credit.

Check out our list below to borrow the money you need right now!

Short Term Loans for Bad Credit To Borrow Money

Here you have our ranking, in order to make it easy for you to easily select a lender and borrow your money as soon as possible. Just click on your favorite company, request your loan and receive it quickly once you are approved:

  1. Overall Short Term Lender with Bad Credit

  2. Biggest Limit for Bad Credit Short Term Loans

  3. for Small Loans

  4. for Emergencies

Now you can find the a loan company for your own needs, be it that you need a big loan, an emergency loan or just a bit of money.

If you want to learn more about our recommended companies before choosing the right one, then we invite you to check our detailed reviews. Short Term Lender for Bad Credit Applications is our top option for short term loans with bad credit because they can lend you up to $5,000 with an easy process - the approval process is quick, the interest is fair and they may lend you money even if your score is in the 300 points range.

The screening process is fast, and you can get the money you need in a maximum of 1 business day. Furthermore, the requirements are minimal, meaning that you have a higher chance of getting your request approved.

Also, HonestLoans allows you to request a loan for any type of need. Be it for repairing your home, injecting some extra cash in your new business, trip expenses, etc. They make it easy for you to attend to any type of situation thanks to their loans.

Therefore, if you want to get a short term loan from the a lender right now, then is exactly what you need. Go ahead and send your loan request. Biggest Limit for Bad Credit Short Term Loans

If you need up to $50,000 USD, then is exactly what you need, because they bring the biggest bad credit short term loans in 2023. Let’s check all the benefits that this lender will offer you. has been in the industry since 1997, and for over 20 years, they have been helping people with loans, especially when other companies in the market couldn’t lend them more than $10,000 USD.

The penalties can be severe if you miss on payments, but other than that, it’s a solid choice that you need to consider, especially if you need more than $5,000 USD with a quick approval and release. Small Loans

Do you only need a small loan for the short term? Then is exactly what you need, because you can get a $1,000 loan approved quickly, even with a pretty bad credit score in the range of 300 points. Let’s see why this lender is an excellent choice. has been bringing short-term loans to people with bad credit for several years, and they stand out because of their fast screening and approval process, as well as thanks to the maxim of months they allow you to pay back the loan, which is 72 months.

We know you are looking for a short-term solution, but if you ever need a loan that you can pay within a prolonged time frame, then is a good choice.

Therefore, if you need a quick and small loan with fair interest and fast approval, then is exactly what you need right now. Loans for Emergencies

Do you need money as soon as possible for an emergency? Then do not lose any more time and check out right now. Let’s review it quickly, so that you can request your loan for your emergency and get it approved quickly.

Even though all of our recommended options approve loans quite quickly, is the fastest, especially since they don’t have lots of requirements nor pay attention to what you will do with the money, making it perfect for emergencies.

Now, the interest is fair because it does not go over 35.99% APR, and since you will pay it back quickly, it will be easy for you to reduce the total cost of the loan.

What Is Considered Bad Credit?

Is your credit score really considered as bad? If you cannot answer it with a yes right off the bat, then chances are it might not be as bad as you think, and you could request other types of loans. Therefore, here you have a complete explanation on what bad credit really is.

An Overview on Credit Score

The credit score measures your credit worthiness, in simple words, how likely you are to pay back the money you borrow. If you have missed payments, and the lenders have reported it, then that’s the reason behind your low credit score.

Here you have the different scales when we talk about credit score:

  • Excellent: 800-850 points

  • Very Good: 740-799 points

  • Good: 670-739 points

  • Fair: 580-669 points

  • Poor: 300-579 points

This is the scale that the principal credit bureaus such as Equifax, Experian and Transunion. As you can see, it ranges from 300 up to 850. The higher you score, the more likely you will be to get access to more loans and with better conditions, because you will be classified as a low-risk borrower.

What Range Is Bad Credit?

If you have less than 580 points, then your credit score will rank as poor, and this is what we considered as bad credit. However, some people even include the fair credit score range into the category of bad credit, because it’s also very hard to get a loan when you score less than 670 points.

However, even if you score less than 580 points, and that includes a score of just 300ish points, our lenders are ready to bring you the money you need.

How Is Your Bad Credit Score Calculated?

Credit bureaus use different factors for calculating your credit score - and here you have them, ranked according to their influence:

  • Payment and Credit History: 35%

  • Total Debt: 30%

  • Length of Credit History: 15%

  • Recent Credit Activity: 10%

  • Types of Accounts: 10%

As you can see, your payment history and total debt will have the highest degree of influence on your score. That’s why credit repair is so popular nowadays, because if you manage to remove some negative items from your history, then you can really move up in the category, many times being able to jump from bad credit straight into good or very good credit.

How Do Short Term Loans with Bad Credit Work?

Now that you know what bad credit really is, it is time to learn how these loans work. This will help you to protect your rights, and hence, help you to avoid potential scams.

Our lenders will receive your request and analyze it based on:

  • Income: They analyze income to determine if you will be able to pay back the loan

  • Total debt: They also take into account how much money you owe in total

  • Credit score: Even though they check it, it’s not an influential factor - because these loans are for bad credit, even if it’s in the 300 points range

  • Employment: They also consider your employment and record at the hour of analyzing your application

  • Collaterals: They might also analyze your potential collateral, in case you want to use that type of loan.

If you get approved, then you will be given a payment schedule, which is usually just a few months long. These short-term loans can go anywhere from 1 month up to 18 months, but as you will see, the majority of options range from just 1 to 3 months, especially if we talk about payday loans for bad credit.

This is exactly how they work - so now you can go ahead and request your loan. You will receive a response in as little as a couple of hours, or 1 business day as a maximum.

The Different Types of Bad Credit Short Term Loans

The term “short term loans for bad credit” is a category indeed, because there are different types of loans you can request. Here you have a complete overview, in order to choose the best loan for your own needs and goals:

  • Payday Loans: The best short term loan with bad credit because you can pay it the next day after you receive your next paycheck, they are approved quickly and the requirements are minimal

  • Installment Loans: One of the most popular short-term loans with bad credit because you can borrow an exact sum of money and pay it in scheduled payments. And because we are talking about the short term, you can either opt for 2-3 months or to pay it weekly

  • Personal Loans: They can be either secured or unsecured - because the first one will require a collateral, whereas the second one does not have that requirement. When we talk about bad credit, a secured personal loan is much easier to obtain

  • Cash Advance: You can get this loan with a credit card issuer - essential you get a fixed sum of cash based on your credit card balance, which is used to bring you the loan

  • Student Loans: If you are looking to get a loan to pay for the costs of your career, tuition, courses, or any other study-related expense, then our recommended companies can bring you short-term student loans even with bad credit

  • Home Equity Loans: If you have a home to use as a collateral, then you might be interested in this type of loan, which our recommended companies can bring you even if you have bad credit. The benefits are higher limits and quicker approval

  • HELOCs: They are essentially the same as home equity loans for bad credit, but with the difference that they act like credit cards. You can borrow the money you need at any given time

Now that you know more about each one of the loans that our recommended companies can bring you, you will have a much easier time selecting the ideal type for your own case.

The Pros and Cons of Short Term Installment Loan Lenders

Because it is our responsibility to bring you a complete and unbiased analysis of our recommended companies and the types of loans they offer, it is mandatory for us to share with you the pros and cons of requesting a short term loan for bad credit.

This will allow you to see if you should really request this type of loan - because we want to help you to make the best decision for your finances. Here you have our full analysis of the advantages and disadvantages, along with a conclusion to help you make a wise decision.


The advantages of short term loans with bad credit can have a massive impact on your life - here is why:

  • Get money regardless of your credit score: Our recommended lenders will check your credit score, but it will not matter even if it’s just 300 points, you can still get access to loans that will help you in any situation

  • Get money easily for emergencies: Our recommended lenders can approve your loan quickly and deposit it as soon as possible, making them ideal for emergencies

  • Improve your credit score: If you pay back on time, then you can use them to improve your credit score, helping you to get access to better loans with higher limits and other benefits

  • Pay less interest: Because you will pay the loan back in just a few months, then you will pay less total interest in comparison to a long-term loan.

However, the key to enjoying these benefits is to select the right lender, and thanks to our ranking, you will have an easy time doing so.


Even though these loans offer powerful benefits, it is still a good idea to factor in the few cons:

  • You can borrow less money than with other loans: The max you can borrow with our recommended lenders is $10,000 USD - which is a strict limit in comparison to other types of loans


  • Higher interest: The APR can be as high as 36%, but since you will pay it back in just a few months, the total cost will be lower than if you were to pay back a long-term loan


  • Stricter payment schedule: You will have to pay it in less time, so you will be subjected to a stricter payment schedule and conditions.


Now that you know both the pros and cons, it is time to check the conclusion.

Conclusion: Should You Request This Loan?

If your credit score is bad and you cannot get access to other types of loans, you want to stay away from no credit check loans because of their high interest, and you only need the money for the short term, then you should definitely request a loan from our recommended companies.

Our recommended companies can either bring you payday loans, installment loans, personal loans for bad credit, amongst other options to suit your own financial needs and goals.

How to Detect a Scam in the Industry of Online Short Term Loans

By choosing any of our recommended companies, you will completely avoid scams. But if you want to choose a company on your own, or you simply want to learn how to spot scams because it’s always good to know about it, then here you have it:

  • It’s not registered in your state: According to the The Federal Trade Commission, it is mandatory for a lender to get registered in the state where they are offering their services. If you find out that the lender is not registered, then this is a major red flag

  • Aggressive and misleading marketing: If you see that they use misleading marketing tactics such as bringing you guarantees without analyzing your credit profile, then it is highly likely that it is a scam that you should avoid at all cost

  • They request a prepayment: If they request you to pay in advance before getting the loan, then run. It’s highly likely that you are going to be scammed, because no reputable lender will ever request you such thing

  • They don’t have a physical office: Scams usually do not have a physical address, and if you spot this along with other red flags, then we might be talking about a potential scam

  • Poorly designed website: A bad website is not an indicator of a scam on its own, but if you see this, along with the requirement for a prepayment, no physical address, and no registration in your state, then it might be a potential scam

  • Bad reviews online: If you search for the name of the lender and you see that there are several bad reviews and complaints (with full details), then you should avoid it.

These are all of the factors we take into account when evaluating a lender, and as you can see, they can require hours of research and analysis.

Kick scammers to the curb and stay safe by only borrowing from our recommended companies because they have been thoroughly analyzed by our team of professionals - making it easy for you to get the money you need as soon as possible!

What Alternatives to Short Term Installment Loans Bad Credit?

If you feel like these loans are not good for you, there’s no problem. Let us show you the alternatives you have at hand:

  • Work on improving your credit score: This should your end goal anyway, because a good, very good or excellent credit score will open you the doors to new opportunities - the bad thing is that it can take anywhere from 6 to 12 months to improve it, or even years to successfully go over 670 points

  • Request a loan with a collateral: If you can offer a collateral such as a car or a house, then you can use it to get a loan. Even though the interest is likely to be less and you can get it in better terms, if you miss any payment, then you will put your collateral at risk of losing it

  • Search for alternative lenders: Some lenders can bring you a loan based on your education, employment, and other factors. The bad thing here is that they are just a handful of lenders and it might take you weeks to find a proper one that will approve your request.

Even though these are valid alternatives, they’re not really useful if you need the money right now, because you have to solve an emergency. Because fixing your credit score can take you anywhere from 6 to 12 months, and if you don't have any collateral, you can forget about secured personal loans or a home equity loan.

That’s why our recommended short-term loans with bad credit are exactly what you need, because you can get access to the money you need right now easily - minimal requirements and fast approval.

How We Selected Trustworthy Short Term Loans with Bad Credit - Our Exclusive Methodology

Our exclusive methodology allowed us to build this ranking, which was engineered by our team of finance professionals. Here we will explain all about it, so that you can either follow it and select another company on your own, or simply learn why you should trust our recommended companies:

  • Reputation: We start by making sure that the platform is actually reputable, and we accomplish this by analyzing its history, online reviews, ratings and complaints filed against the lender. If everything looks good here, then we analyze it further

  • No Attention to Credit Score: Since we are talking about loans that you can get even with the worst credit score possible, this is a mandatory factor. We only include lenders that are willing to lend you money even if your score it within the 300 points range

  • Approval Rate: We don’t want to give you false hopes, and that’s why we only add lenders that have a high approval rate. Since you only have to meet minimal requirements such as making at least $800-1,000 USD per month, a valid bank account and being at least 18 years old, you’re likely to get approved and receive the money you need as soon as possible

  • Loan Limits: You have specific needs, and hence, our recommended lenders can lend you anywhere from just $200 USD all the way up to $10,000 USD, in case you need to take care of a harder or more important situation such as medical bills, an urgent injection of capital into your business, a critical home repair, etc.

  • Interest and Fees: We are well aware of the predatory interest rates that some companies impose onto their clients, and that’s why we have discarded all the lenders that do this. Our ranking has only included lenders that are willing to bring you the money you need at a fair cost, which is low fees and a fair interest rate

  • Contract: This is the most complex factor to analyze, because we have to read the contract, terms and conditions in order to see if the lender we are going to recommend is actually good or not. You can rest assured that all the options we recommend are transparent and honest, because their contracts are free from “trap” clauses, “surprise” fees or excessive penalties

  • Customer Experience: Our recommended lenders will bring you the best customer experience in the industry, because you can request your loan in just a couple of clicks using their modern and user-friendly platforms. On top of that, they have excellent customer support teams ready to help you when you need it the most.

As you can see, our methodology factors in the most important aspects of a legal, serious, reputable and beneficial short term lender for bad credit. Therefore, you can use any of our recommended lenders to get the money you need, in the best conditions.


If you want to learn more about the companies we recommend for the best short-term loans for bad credit, then we invite you to check out our answers to the most frequently asked questions about this topic.

Is it easy to get a short-term loan with bad credit?

Yes, our recommended companies make the process as easy as possible, so that you can get approved quickly. Since they accept customers with bad credit, the only things they will check are your monthly income, personal info and contact information. You can get a loan in as little as a couple of hours.

How much money can you borrow with bad credit?

It depends on the lender, but for example,, offers you up to $10,000 USD for short-term loans, even if you have bad credit. However, the rest of our recommendations limit it at $5,000 USD. Therefore, now you know what company you can choose if you want to borrow more than $5,000.

Are short-term loans with bad credit the same as no credit check loans?

No, they are not the same. Our recommended companies that bring short-term loans with bad credit will check your credit and bring you the money without taking your score into account. This approach is more beneficial for you as a customer, because you will have to pay less fees and interest than if you were to request a no credit check loan - which are known for being significantly more expensive.

What are the best types of short term loans with bad credit that you can request?

The best types of short-term loans with bad credit that you can request are installment loans and payday loans. That’s why we recommend companies that offer these types of loans, because you can pay them in the short term, get access to high limits up to $10,000 USD, and pay less fees and interest than other types of “emergency” loans.

Important Disclosures: This website does not constitute an offer or solicitation to lend. The operator of this website is NOT A LENDER, does not make loan or credit decisions, and does not broker loans. The operator of this website is not an agent or representative of any lender. We are a lead generator. This website's aim is to provide lenders with information about prospective consumer borrowers. We are compensated by lenders for this service.

Information about loans: Not all lenders can provide loan amounts up to the maximum amount that is advertised. The maximum amount you may borrow from any lender is determined by the lender based on its own policies, which can vary, and on your creditworthiness. The time to receive loan proceeds varies among lenders, and in some circumstances faxing of loan request form materials and other documents may be required. Submitting your information online does not guarantee that you will be approved for a loan.

Every lender has its own terms and conditions and renewal policy, which may differ from lender to lender. You should review your lender's terms and renewal policy before signing the loan agreement. Late payments of loans may result in additional fees or collection activities, or both.

By using this website or services, you represent and warrant that you are at least 18 years old, that you are a resident of the United States, and that you are not a resident of any state where the loan you are applying for is illegal.


Contact Details




Seb Treasure