Payday & Installment Loans
Payday & installment loans are for borrowers with poor credit (a FICO score of less than 600) or no credit at all. Both require that you have a checking account and a reliable source of income.Payday loans need to be paid back within a week or two. Installment loans have a longer payback period of up to as much as 12 months - read how installment loans work here. Both have been criticized for their high interest rates and roll-over fees. One study by the Consumer Financial Protection Bureau found four out of five payday loans are rolled over or renewed Before looking at payday loans, click here to see if you might qualify for a personal loan.
OppLoans
Go to Site Read ReviewBest for borrowers in the 600-700 FICO range. OppLoans is an installment lender that operates in 18 U.S. states.
LendUp
Go to Site Read ReviewLendup is a payday lender attempting to change the industry through lower fees and better consumer financial education. Their self-describe mission is "to provide anyone with a path to better financial health."
RISE Credit (from Elevate)
Go to Site Read ReviewRISE offers loans that are similar to payday loans but have better interest rates (156% vs up to 400% on a payday loan)
BadCreditLoans.com
Go to Site Read ReviewLoan matching service for those with credit scores with "bad credit," meaning below 600.
CashUSA
Go to Site Read ReviewCashUSA is a loan matching website targeted towards consumers with Good or Poor credit.
Check 'n Go
Go to Site Read ReviewCheck 'n Go serves as a payday loan lender to its clients who need fast cash for emergencies.
