Installment Loans for Bad Credit: 9 Options Available in the USA

Introduction

If you have a low credit score, getting approved for a personal loan can feel impossible. But thankfully, many lenders offer installment loans for bad credit—designed to help borrowers rebuild their credit while accessing the funds they need. Whether it’s for medical bills, car repairs, or unexpected emergencies, bad credit installment loans USA give you a second chance with monthly payments and flexible terms.

In this guide, we cover 9 reliable installment loan options available in the USA that accept bad credit, offer fast approval, and report to credit bureaus—helping you rebuild your financial future.

Quick Summary: Best Installment Loans for Bad Credit

Here are some top picks for installment loans for bad credit in the USA:

SpeedyFundsNow – Same-day funding and easy application

Upstart – AI-powered approvals for poor credit borrowers

LightStream – Low interest for strong applicants with bad credit

Avant – Direct lender with flexible repayment terms

Happy Money – Great for credit card consolidation

SoFi – No fees and career coaching benefits

Avant Personal Loans – Customized options for low credit borrowers

Happy Money (again) – Listed twice due to popularity

LendingPoint – High approval rates for fair credit

Universal Credit – Credit-building and free financial tools

What Are Installment Loans for Bad Credit?

Installment loans for bad credit are personal loans repaid in fixed monthly payments over a set period. They're ideal for individuals with poor or no credit history who need access to cash and want predictable repayments. Many online lenders now offer guaranteed installment loans for bad credit with fast approvals and minimal paperwork.

1. SpeedyFundsNow

Website: https://www.speedyfundsnow.comContact: [email protected] Amounts: $100 – $5,000APR: Varies by stateWhy Choose Them:

Offers direct lender installment loans bad credit

Quick and paperless application process

Same-day funding

SpeedyFundsNow specializes in emergency installment loans for bad credit borrowers in the USA. With a streamlined application process and minimal credit requirements, they’re ideal for those who need cash urgently.

2. Upstart

Website: https://www.upstart.comContact: [email protected] Amounts: $1,000 – $50,000APR: 6.4% – 35.99%Why Choose Them:

AI-driven approval model

Great for online installment loans for poor credit

Upstart uses alternative data (education, employment) to approve borrowers with low FICO scores. It’s a leading platform for fast approval installment loans USA that don’t rely solely on credit history.

3. LightStream

Website: https://www.lightstream.comContact: [email protected] Amounts: $5,000 – $100,000APR: Starting at 7.49% with AutoPayWhy Choose Them:

Offers low interest installment loans for bad credit

No fees and same-day funding

LightStream offers competitive terms for borrowers with decent income and stable history, even if credit is below average.

4. Avant

Website: https://www.avant.comContact: [email protected] Amounts: $2,000 – $35,000APR: 9.95% – 35.99%Why Choose Them:

One of the top installment loans bad credit no credit check alternatives

Flexible repayment periods

Avant provides customized loan offers to borrowers across the credit spectrum. It’s one of the most accessible options for monthly payment loans for bad credit.

5. Happy Money

Website: https://www.happymoney.comContact: [email protected] Amounts: $5,000 – $40,000APR: 11.52% – 24.81%Why Choose Them:

Excellent for debt consolidation

Offers long-term installment loans for bad credit

Happy Money partners with lending institutions to offer fixed-term loans to consolidate credit card debt.

6. SoFi

Website: https://www.sofi.comContact: [email protected] Amounts: $5,000 – $100,000APR: 8.99% – 25.81%Why Choose Them:

No origination fees or prepayment penalties

Member benefits like job coaching

SoFi is great for financially responsible borrowers who want low fees and more than just a loan.

7. Avant Personal Loans (Duplicate of #4)

Reiterating Avant’s strength for direct lender installment loans bad credit, especially for those with a stable income but a damaged credit history.

8. Happy Money (Duplicate of #5)

Reinforcing its popularity for low interest installment loans for bad credit, especially for debt consolidation and budgeting.

9. LendingPoint

Website: https://www.lendingpoint.comContact: [email protected] Amounts: $2,000 – $36,500APR: 7.99% – 35.99%Why Choose Them:

High approval rates

Fast decisions and funding

LendingPoint specializes in helping those with credit scores in the 600s or recovering from financial setbacks.

10. Universal Credit

Website: https://www.universal-credit.comContact: [email protected] Amounts: $1,000 – $50,000APR: 11.69% – 35.93%Why Choose Them:

Access to credit-building tools

Reports to major credit bureaus

Universal Credit offers more than just a loan. With free credit monitoring, educational tools, and consistent payment reporting, it helps rebuild financial health over time.

Pros & Cons Comparison Table

Lender

Loan Range

APR Range

Key Benefit

Drawback

SpeedyFundsNow

$100 – $5,000

Varies by state

Same-day funding

Not available in all states

Upstart

$1,000 – $50,000

6.4% – 35.99%

AI-based approvals

Higher APR for low scores

LightStream

$5,000 – $100K

From 7.49%

No fees, low interest

Requires strong profile

Avant

$2,000 – $35K

9.95% – 35.99%

Accessible to most borrowers

Charges admin fees

Happy Money

$5,000 – $40K

11.52% – 24.81%

Debt consolidation focus

Limited use cases

SoFi

$5,000 – $100K

8.99% – 25.81%

No fees, extra benefits

Requires fair/good credit

LendingPoint

$2,000 – $36.5K

7.99% – 35.99%

Fast approvals, flexible credit standards

High max APR

Universal Credit

$1,000 – $50K

11.69% – 35.93%

Credit-building features

Origination fee applies

FAQs About Installment Loans for Bad Credit

1. Can I get installment loans with bad credit and no credit check?Yes, some lenders offer no credit check installment loans, but they may come with higher interest rates. Always check for direct lenders with transparent terms.

2. Are these loans guaranteed for approval?While no loan is truly guaranteed, some providers offer guaranteed installment loans for bad credit with soft checks and high approval rates.

3. How fast can I get the money?Many lenders like SpeedyFundsNow or LendingPoint offer fast approval installment loans with same-day or next-day disbursement.

4. Can I pay back in monthly installments?Yes, all listed options allow monthly payment loans for bad credit, which helps in budget planning.

5. What’s the minimum credit score required?Lenders like Upstart and Avant may approve borrowers with scores as low as 580. LightStream and SoFi prefer higher scores.

Conclusion

If you're facing financial difficulty, these installment loans for bad credit options can provide relief while helping you rebuild your credit over time. With flexible repayment terms, fast approvals, and trustworthy lenders, getting a loan doesn’t have to be out of reach.

Choose the lender that best fits your needs and apply confidently today.

Need fast, reliable cash with easy terms? Explore your options now with SpeedyFundsNow and others.