Top 8 Bad Credit Loans Guaranteed Approval $5,000 - May 2024

If you are looking for Bad Credit  Loans then it has to be Honest Loans. We have made the process simple by reviewing and ranking the top choices in the US, check out the table below, as well as our detailed reviews of each lender to find the right lender for you. 

If you're looking for bad credit loans with guaranteed approval up to $5,000, we've compiled a list of the top payday loan companies in the US that can help. These loans require no credit checks, making them accessible to everyone, regardless of their financial situation. 

Whether you're employed or not, or have a history of bad credit or no credit at all, these loans are designed to help you close the gap between available finances and unexpected expenses.

Best bad credit loans guaranteed approval 

From this list, you can easily click on the respective link to find more information about the best lender that suits your personal loan needs with guaranteed approval. Normally, the loan is approved within 1-2 hours once you fill the application. 

If you want more insights to better make a choice, read on to for a detailed comparison:

1. Credit Clock: Best Loans for Bad Credit

Credit Clock

Are you looking for a bad credit personal loan guaranteed approval of $5000 in the US? Credit Clock  should be the broker of choice. It does not sit at the top of our list for nothing.  With Credit Clock, you are guaranteed approval to enable you to meet your unexpected expenses and cash shortages even with a bad credit history. Credit clock has the advantage of being at the top as it has:

  • Fast approvals.
  • Flexible repayment options.
  • Low-interest rates.
  • Fast payout.

Credit Clock ensures that you meet your needs in the nick of time as they understand just how frustrating it can be to lack liquidity when you need it most.

2. Honest Loans: Flexible personal loan lenders

If you are in a tight spot that only a quick personal loan can get you out of, then, do not hesitate to have a look at Honest Loans. Honest Loans can lend loan amounts of up to $5,000 making it a versatile lender that can meet all your cash needs in an instant. This applies regardless of if you have a bad credit history.

The following are some of the reasons why you should consider Honest Loans for your personal loan needs:

  • Secure website.
  • Fast decision.
  • Quick funding.
  • No need to visit an office to queue.
  • Easy application.

With its easy-to-use interface, Honest Loans is your choice for bad credit personal loans guaranteed approvals of up to $5000 at suitable rates.

3. Fast Loans Group: Best-connected broker for personal loans

Fast Loans

If you are looking for a broker who has the best connection to the lenders in the field, Fast Loans Group is what you are looking for. With a lending capacity of amounts of up to $50,000, Fast Loans are there to sort your bad credit personal loans guaranteed approval.

Fast Loans is there to ensure that be it an emergency or an unforeseen expense, you can meet the obligation. Fast Loans is a good consideration for a guaranteed approval personal loan even with a bad credit history for the following reasons:

  • Large borrowing amounts.
  • Good customer service.
  • Fast approvals.
  • Variety of loans.
  • Low fees.
  • Easy application process.
  • Same-day approval.

Fast Loans is the go-to broker not only for bad credit personal loans guaranteed approval $5000, but also a variety of other loan products with different borrowing ranges.  

4. Fast Money Source: For safe and private lending services

Fast Money Source

If you are in acute need of a personal loan from a lender who values your privacy, Fast Money Source is what you are looking for. This is because they ensure the protection of your data through the best encryption technologies.

Fast Money Source provides bad credit personal loans of up to $5,000 with guaranteed approvals regardless of your credit history. If you are wondering why you should consider Fast Money Source as your lender of personal loans, here are the reasons:

  • High encryption technology.
  • Flexible repayment options.
  • Fast disbursement of funds.
  • Same-day funding.
  • Online services.
  • Simple application.

Fast Money Source is a broker that prioritizes your safety when borrowing personal loans that require guaranteed approval.

5. Big Bucks Loans: High personal loans approval rate


If you are currently looking for a quickly accessible bad credit personal loan in the US, Big Bucks Loans should be your next stop. This is because Big Bucks Loans have guaranteed approvals of personal loans of up to $5,000.

With Big Bucks Loans, you are assured of a loan that will be directly deposited in your account instantly even if you have a bad credit score. Below are a few reasons why you should consider Big Bucks Loans to fulfill your personal loan needs:

  • FICO scores are not considered.
  • Fast money transfer.
  • No credit file footprints.
  • No hidden charges.
  • High approval rates.
  • Low fees.
  • Easy application.

Even with a bad credit score on your file, Big Bucks Loans come through for guaranteed approvals for personal loans with bad credit.

6. Heart Paydays: No credit score consideration

Heart Payday

Are you looking for a personal loan lender who does not consider credit scores? Heart Paydays is your broker of choice. At Heart Paydays, you can get a bad credit personal loan guaranteed approval of amounts up to $5,000.

With one of the lowest interest rates in the market, Heart Paydays extends affordable personal loans. If you are wondering why Heart Paydays should be a top choice for your guaranteed approval personal loan, here are the reasons:

  • No minimum FICO score is required.
  • Variety of loans.
  • Suitable repayment options.
  • Low fees.
  • High personal loan approval.
  • Unrestricted access.
  • Quick approvals.

Heart Paydays is a broker that will ensure you get your personal loan needs met in an instant without any delays.

7. Low Credit Finance: Easy personal loan application

Low Credit

If you are looking for a personal loan lender and you require a broker who has an easy application process, Low Credit Finance is just the one. With their convenient application process, Low Credit Finance can extend personal loans that max out at $5,000.

Low Credit Finance offers low-interest rates and charges low fees for their personal loans even to those with bad credit scores and history. The following are the reasons why Low Credit Finance is a good consideration for guaranteed approval personal loan:

  • No credit score discrimination.
  • Same-day approvals.
  • Instant payout.
  • Easy application.
  • Large network of lenders.
  • Low fees.
  • No hidden charges.

Low Credit Finance is a broker to turn to whenever the other conventional lenders have disputed your request as they offer personals that have guaranteed approval with bad credit.

How Do Payday Loans Work?

A payday loan is a short-term borrowing choice that offers easy access to money when it is desperately needed. They range in size from a few hundred to a few thousand dollars, and as their name implies, they are intended to be repaid on the following payday. Payday loans are designed specifically for people who require quick cash but may not be able to access traditional credit sources like banks due to bad credit history, a lack of income, or unemployment. Applying for payday loans is a straightforward process that mainly entails having a bank account and presenting proof of income, among other prerequisites that will be covered.

How They Work

Payday loans work just like any other loan service from any financial institution. All they require is an application that will necessitate waiting for approval after which, if everything is okay, the funds are disbursed in the said bank account. 

Unlike traditional loans, the application of payday loans is relatively easier and does not involve lots of paperwork. Everything is done online. This is inclusive of the application process, approval and funding. Systems that have been put in place have automated the whole process that involves checking for eligibility and approval conditions. This means that you can get the amount at your convenience without having to queue.

After all the approvals have been done, the policies of the agreement will then be made known to you. After which you will decide to either accept or reject the offer depending on their suitability.


Just like conventional loans, payday personal loans as well have qualifications that must be met before they are extended. They are:

  • Citizenship or permanent residency in the US.
  • The minimum age requirement is 18 years old.
  • A verifiable source of income.
  • Possession of a bank account.
  • A phone number or email address for communication.

The high approval rate of payday loans is attributed to the fact that the majority of borrowers meet the above qualifications quite easily.

Table of Bad Credit Loans

Brand  Summary  Score 
Honest Loans Multiple personal loan options  10/10
Fast Loans Group  Large broker network to chose from 9/10
Fast Money Source Fast loan approval process  9/10
Credit Clock  Great for poor credit applicants  9/10
Big Buck Loans High approval rate  8/10
Loan Raptor  Fast release of funds 8/10
Heart Paydays  Easy online application  8/10
Low Credit Finance  Low APR Rates 8/10

Impact of Credit Scores on Bad Credit Loans

The credit score is a measure that shows an individual’s creditworthiness based on several factors put into consideration. For payday loans, the credit scores usually have no impact and are of no importance.

However, most lenders perform soft credit checks before they give you the loan amount. The credit checks done are soft so that they make it easier for you to have access to loans requested.

It is important to note that, even though payday loans do not look at your credit score, they do have an impact on it in this sense. When you make your loan repayments early, it positively affects your credit rating. To add to that, if you are a borrower with no credit history, payday loans offer a good start to your credit rating.

Related posts about Personal Loans with No Credit Check

How do Loans for Bad Credit Differ from Conventional Loans?

The following are the parameters that differ between payday and conventional loans:

  • Loan Amount – Payday loans are usually taken for smaller amounts, ranging from a few hundred to a few thousand dollars, whereas conventional loans range from several thousand to hundreds of thousands of dollars depending on the need of use. We have listed the best $300 loan options here
  • Repayment Terms – Payday loans are usually repaid on the next payday, hence the name. On the other hand, conventional loans are repaid over a longer period, ranging from months to years, all dependent on the amount borrowed.
  • Interest Rates – Payday loans have relatively higher interest rates and fees compared to conventional loans due to the short-term nature and higher risk associated with lending to borrowers with poor credit or no credit history.
  • Credit Checks – Payday lenders do not perform credit checks, and if they do, they are soft, while conventional lenders require thorough credit checks and collateral for larger loans.
  • Approval Time – Payday loans are usually approved and funded within hours, while conventional loans may take days or weeks for approval and funding. Check out the fastest loan options Here
  • Borrower Eligibility – Payday loans are curated for individuals with poor credit or no credit history, while conventional loans are typically available to individuals with good credit scores and a steady income.
  • Use of funds – Payday loans are often used for emergency expenses or to cover unexpected bills, while conventional loans are often used for larger purchases such as a car or home and financing.

Regulation of Payday Loans in the US

There is a great deal of discussion and disagreement about payday loans. Some rules have been implemented as a result. One of these laws restricts the amount that can be borrowed in that state. But other states have gone so far as to outright forbid payday loans. Therefore, before submitting an application, it is essential to confirm state eligibility.

Upside and Downside of Bad Credit Personal Loans


  • Fast approval – Payday loans have a quick approval process, with many lenders offering same-day or next-day funding. This is generally helpful if you are in dire need of cash urgently.
  • No credit check – Payday lenders often do not require a credit check for loan approval. This comes in handy if you are an individual with poor credit or no credit history.
  • Flexible eligibility requirements – Payday lenders often have flexible eligibility requirements, with many only requiring proof of income, identification, means of communication and a bank account. This heightens your chances to qualify for a loan.
  • Small loan amounts – Payday loans offer smaller loan amounts. This proves to be helpful if you require a small amount of cash. See here for the best options for a $200 Loan
  • Convenience – Payday loans can be completed online or in person, making them a convenient option if you abhor traveling to a physical bank or lending institution.


  • Risk of the cycle of debt – Due to the high-interest rates and short repayment periods, you may become trapped in a cycle of debt, where you are unable to repay the loan and must take out another loan to cover the interest and fees.
  • High-interest rates – Payday loans typically have extremely high-interest rates, often ranging from 300-400% APR.


What happens if I default on a Loan for Bad Credit?

If you default on the loan, there may be repercussions, such as higher expenses or a decline in your credit rating. Lenders may become less willing to lend to you in the future and damage your credit history. Other lenders use various repayment plans in case of a default.

Can I get a personal loan if I have bad credit?

Yes, you may be able to get a personal loan even if you have bad credit. Many personal loan lenders do not require a credit check for loan approval, so your credit score may not be a significant factor in determining your eligibility for a loan.

How quickly can I get a loan for bad credit?

In order to acquire your money fast, a lot of personal loan lenders offer same-day or next-day funding. Quick application processing and prompt fund disbursement are the goals of personal lenders. Generally, you can apply online for a personal loan and have a response in a matter of hours or minutes. The lender will often put the loan money into your bank account the same day or the following business day if you are authorised.