Joshua never imagined that being thrifty could be a financial offense. Two years ago, much to his horror, he was penalized for being frugal in his spending and financial management. At 52, when he approached a bank for a loan to renovate his house, he was refused. Not that he had a bad credit score, but he had no credit score or credit history.

The 52-years-old man had always lived within his means and cut his coat according to the available cloth. He shunned luxury, saved for the rainy seasons, used his credit card extremely sparingly, paid all his dues in cash, and drove an old car he got as a gift from his in-laws.

Joshua needed less than $10,000 for the renovation, and he could have met the expense had he not gone on a cruise with his wife to a Caribbean destination. The bank refused the loan because he had never taken one before and built any credit record.

Joshua felt crestfallen, rather hit by a bolt from the blue.

Joshua was penalized for a virtue. But, there are hundreds and thousands of Americans whose banks and other mainstream financial institutions refuse loans for reasons contrary to that of Joshua. They, unlike Joshua, have poor or dismal credit scores.

But, what are the options left for Joshua? Will he have to postpone his planned renovation and wait for his savings to build up again? Can he wait that long? What if he can’t? He can pray for divine intervention, making the bank bosses change their minds or explore the other options.

Joshua, fortunately, lives in the United States — a land of endless possibilities where roads never run into a dead end. Banks’ refusal did not daunt Joshua. He decided to explore the alternatives.

To these alternatives, your credit record or lack of any isn’t of any relevance and offer loans often within a day. This article will feature five no-credit-check loan options to get cash advances ranging between $200 and $40,000 virtually instantly.

These options, however, are not the lenders but are facilitators or virtual financial marketplaces where, in their network, a borrower can find several lenders.

Top 5 Online Lenders For No Credit Check Loans

#1. MoneyMutual: Overall Best Online Lender For No Credit Check Loans

#2. BadCreditLoans® : Best For Installment Loans For Bad Credit

#3. CashUSA: Best Payday Loans Online Lender

#4. PersonalLoans : Get Personal Loans At Best Interest

#5. CreditLoan : Best Value Direct Lender For Fast Loans

#1. MoneyMutual:Overall Best Online Lender For No Credit Check Loans

Kenneth W. joined more than 2,000,000 people in singing paean for MoneyMutual. He said, “My financial needs were taken care of quickly. Received the money from the lender the next day.” Ariana said, “It’s great! It’s simple and easy and straight to the point.” They both benefited from the platform.

“It went pretty well. Because right now I needed the money to pay some bills and I’m pretty happy they were able to get me approved so… yeah it worked pretty fine. You guys were fast—I just did it on line and I didn’t even finish one thing and it popped out of my gmail. I like your service. If I meet some people that need a loan, I will refer them to you guys,” said Carlos C. in his review about MoneyMutual.

MoneyMutual is an online marketplace that offers borrowers simple, quick, and secure access to lenders. It provides that information, at your request, to lenders who might be able to offer you the much-needed financial assistance. MoneyMutual, with its massive network of lenders, usually facilitates quick and easy loans between $200 and $5,000.

⇒ Visit the Official Website of MoneyMutual

The tagline of this gateway to loans says — At the speed of life. And, being true to its salt, the platform indeed facilitates loans almost at lightning speed. You apply for a loan, fill up the necessary forms online, attach the required information and documents along with the forms and receive the cash the next business day.

A surprising fact of American life brought MoneyMutual into the business of people. The platform says that according to the Economic Well-Being of U.S. Households report, four in ten Americans cannot come up with $400 in an emergency, and almost everyone has a hard time making ends meet at some point.

This grim and surprising reality of American life encouraged MoneyMutual to make a foray into the financial world in 2010 to help Americans live a better life and cover the challenges that everyday life throws at them.

At MoneyMutual, borrowers can find loans for all kinds of emergency expenses, medical bills, car repairs, unexpected bills or other payments, groceries, gas, and other essentials, and special occasions like holidays, weddings, or travel.

MoneyMutual is a member of the Online Lenders Alliance (OLA) and a partner to the Community Financial Education Foundation (CFFF).

Highlights

• MoneyMutual is not a lender but a loan facilitator and a virtual financial marketplace.
• MoneyMutual does not charge borrowers for the services it offers.
• Lenders at MoneyMutual review information, loan requests and approve loans instantly.
• The platform plays no role in the approval of loan requests.
• The lenders at this instant loan facilitating platform do not insist upon your credit scores.

Pros

• It is trusted and adored by over 2,000,000 customers.
• It facilitates loans for emergency expenses, medical expenses, car repairs, groceries, gas, other essentials, special occasions like holidays, weddings, travel, etc.
• It helps people with bad credit scores to get a loan.
• Located in Las Vegas, MoneyMutual is a transparent loan facilitator.
• It offers foolproof security of all your information.
• MoneyMutual is a member of the Online Lenders Alliance
• It is a trusted site and displays TrustedSite Trustmark on its homepage.

Cons

• The service of MoneyMutual is not available in New York and Connecticut.
• The borrower must have a minimum monthly income of $800 to qualify for a loan.

#2. BadCreditLoans : Best For Installment Loans For Bad Credit

There is only one image on the homepage of BadCreditLoans’ website. The image is of two happy older women sitting on a bench in a park. The image is meaningful and sends out a warm feeling to the visitors.

The image tells the story of the platform in a million words. BadCreditLoans, one of the top gateways to alternative loans, does not facilitate loans; it facilitates the spread of peace, joy, and dreams coming true.

In its efforts to describe itself, BadCreditLoans says it “has been in the business of helping people. We make it simple for consumers to get the funds they are looking for loan online. We can help connect you to lenders that offer loans that may work for you.”

BadCreditLoans is not a lender but a gateway to a vast network of lenders, including state and Tribal lenders. And some among them may offer loans to borrowers with all types of credit. This virtual financial marketplace offers a free service that can connect you with a lender who will present their loan offer to you without any obligation to accept the offer.

But suppose the lenders at BadCreditLoans, in a worst-case scenario, fail to ensure a loan for you. In that case, the platform offers to facilitate debt relief, credit repair, or other credit-related services.

⇒ Visit the Official Website of BadCreditLoans

It maintains a blog that educates customers on how loans work and the various legal terms. It also advises you on how and when to take loans and best practices to repay them in time to avoid falling into a debt trap.

BadCreditLoans says your credit does not need to be perfect for a loan from one of the lenders or lending partners in its network. Borrowers with poor credit score may still qualify for a loan if the person is a US citizen and is over 18 years. The prospective borrower also must have “a regular income, either from full-time employment, self-employment, or disability or Social Security benefits.”

This loan facilitator is committed to responsible lending and offers foolproof privacy and security. It protects your information with advanced encryption technology.

Highlights

• The services of BadCreditLoans are available 24/7, which the borrowers have found very beneficial.
• It offers extremely useful tips and advice on when to take out a loan, How to spend the funds responsibly, and How to budget your future income to pay off a loan quickly.
• BadCreditLoans is again not a lender but a facilitator with an impressive network of lenders.
• The lenders at the platform’s network aren’t bothered about your credit score.
• The lenders at BadCredit Scores approve loan applications almost instantly and disburse the amount within one working day.
• BadCreditLoans understands and respects your urgency. That’s why the lenders on its network approve your application so fast.
• The platform actively participates in various charity activities and other great events associated with the welfare of people.
• The website of BadCreditLoans offers a wide ‘variety of free, expertly written articles explaining every part of the loan process.’

Pros

• The platform facilitates loans between $500 to $10,000.
• BadCreditLoans is committed to responsible lending.
• It offers its services round the clock and seven days a week to prospective borrowers.
• The site’s services are available free of cost. It never charges a borrower any fee to connect them to the lenders. A prospective borrower can apply for a loan at any time of the day or night.
• It protects borrowers’ information with advanced encryption technology.
• The APR (Annual Percentage Rate) the lenders at BadCreditLoans charge usually varies between 5.99 and 35.99 percent.
• Borrowers are given 90 days to 72 months (six years) to repay loans taken from lenders at BadCreditLoans.
• This loan facilitating website has lenders who provide a wide variety of loans, including personal loans, unsecured loans, credit cards, business loans, student loans, auto loans, home loans, and mortgage loans.
• The loan application process is easy and hassle-free.

Cons

• Not suitable for borrowers who need loans of more than $10,000.

#3. CashUSA: Best Payday Loans Online Lender

If you are desperate for a loan and banks have refused you because of your poor credit record, why would you explore CashUSA? The loan portal says because it is one of America’s most trusted resources for cash loans. It also offers you the secure, convenient, and fast service you need to find a personal loan that can work for you.

The goal of this top-class loan portal is simple — to help get you a personal loan offer that can meet your needs. To help us achieve this goal, it has kept the process of receiving loan offers fast and easy from start to finish.

Bridgette Smith perhaps enumerated the biggest reason to opt for CashUSA. On a third-party website, Smith wrote, “They (CashUSA) have really great customer service, they were willing to help in any way they could, I use this company a lot for all our needs, I highly recommend them!!”

⇒ Visit the Official Website of CashUSA

At this platform, a borrower can get loans between $500 and $10,000 within 24 hours. CashUSA explains why the lenders on its network emphasize instant approval of loan applications. They know that time is critical to a borrower in an emergency. Any delay in approving loans will compound the borrower’s problems.

The loan portal uses industry-standard encryption to protect borrowers’ personal information and facilitates loans at an APR (Annual Percentage Rate) between 5.99 percent and 35.99 percent. Giving a representative example, CashUSA says that if you borrow $1500 over a term of two years with a representative APR of 7.9 percent, you will have 24 monthly payments of $67.77, for a total amount payable of $1626.54.

Like the two other platforms we have already discussed earlier, CashUSA, too, does not charge prospective borrowers any fee for connecting them to a lender or applying for a loan. The platform or network of lenders has already earned a reputation for helping thousands of Americans.

Highlights

• CashUSA facilitates a wide range of personal loans for debt consolidation, remodeling your home, or taking a vacation.
• It facilitates personal loans to a maximum of $10,000.
• The platform facilitates fast loans where lenders usually approve loans virtually instantly.
• It has excellent and friendly customer service.
• Its office is based in Las Vegas.
• It runs a good education center where people can find beneficial information related to borrowings, finances, banks, etc.

Pros

• CashUSA is a secured site, and its services are available 24/7, making applying for a loan easy and convenient.
• Loan applications get approved almost instantly, and the cash is made available to the borrower within 24 hours.
• The eligibility criteria that the platform insists upon are standard.
• It facilitates loans discreetly so that the borrowers do not have to face any embarrassment.
• Loan applications with lenders at CashUSA can get approved in a matter of minutes.

Cons

• Not suitable for people needing loans over $10,000.
• The platform’s website is comprehensive but not exhaustive. It could have had more information about the platform and lenders.

#4. PersonalLoans®: Get Personal Loans At Best Interest

In the rabble of non-banking money lenders, Personal Loans® stands out as distinct and unique for its offers. This online financial marketplace caters to borrowers in need of high-value loans. PersonalLoans is among the handful that offers loans between $1,000 and $35,000.

So, if you need a loan of more than $10,000, you better knock on the doors of PersonalLoans. In other features, this loan portal follows the established standards of the industry. It facilitates fast loans and offers an easy and convenient way for prospective borrowers to connect to lenders. The portal also is not a lender and plays no role in the approval or refusal of loans.

PersonalLoans does not charge the borrowers a dime for the services it offers. It has an impressive network of lenders and uses other third-party lender networks to ensure that no borrowers seeking loans end up disappointed. Some of the lenders in its network may offer loans at a competitive rate.

⇒ Visit the Official Website of PersonalLoans

The lenders at PersonalLoans offer a minimum APR of 5.99 percent and a maximum rate of 35.99 percent and carry a minimum repayment term of three months and a maximum term of up to 72 months. However, the actual loan rate depends on the loan amount requested, the borrowers’ credit score, usage, and history.

Highlights

• Personal Loans is a transparent loan facilitating website that hides nothing. The borrowers feel comfortable and happy walking through this gateway to lenders because of its no-hidden agenda practice.
• The services it provides are fast because it understands your urgency.
• Lenders on the network on Personal Loans approve borrowers’ requests virtually instantly and make cash available in 24 hours.
• It accepts loan requests for any occasion.
• Lenders on the Personal Loans’ network offer loans at competitive rates.

Pros

• The Personal Loans offers the most secured path to help get the funding you need.
• At Personal Loans, borrowers can apply for loans ranging between $1,000 and $35,000.
• The APR (Annual Percentage Rate) of the lenders at Personal Loans levy is industry standard (between 5.99 percent and 35.99 percent).
• The lenders on the Personal Loans network offer repayment terms between three months and 72 months.
• The portal offers borrowers adequate time and the opportunity to review the lenders’ final offers.
• The service of this facilitator is available across the United States.
• People in need of a high-value loan find the service of this loan facilitating portal extremely beneficial.

Cons

• Though most of the eligibility criteria of the portal are standard, some may find its insistence on a verified monthly income of $2,000 a bit draconian.

#5. CreditLoan: Best Value Direct Lender For Fast Loans

Elizabeth appeared all in praise for this loan portal. In her review about the platform, she waxed out, saying, “Their site was safe and quickly connected me to a reliable lender. I was approved for a reasonable amount but I couldn’t provide a collateral but the company they connected me to is good and well known.” And Erika pledged that she would recommend this portal to anyone.

And, why wouldn’t she? Though we do not have any definite knowledge of the services she received from CreditLoan, it is easy to presume that portal must have facilitated her with a loan more quickly than she imagined.

⇒ Visit the Official Website of CreditLoan

Highlights

• The loan portal is a respected name and has featured in CNN, Forbes, CNNMoney, Lendingtree, The Wall Street Journal, and The New York Times.
• Its service is completely free.
• Facilitates safe and quick loans.
• It has helped over 750,000 people tide over their financial logjams.

Pros

• The loan portal has been in the business since 1998.
• The lenders at this portal offer personal loans up to $40,000.
• CreditLoan is a highly trusted portal.
• Offers student loans on easy terms.
• Offers bad credit loans up to $5,000
• Offers auto loans.

Cons

• The lenders at this loan portal reportedly charge a higher interest rate.

How We Made This List

Choosing the optimal loan service portal is tricky, and inexperienced customers can easily fall into a loan trap that can ruin their lives. We understand that you’d rather not waste time pouring over hundreds of potential loan services while you are in dire need of money.

As such, we have compiled a list of five of the best loan service portals that exist right now that give out loans without a credit check. The companies we have chosen are based on systematic research which considers different parameters. Through elimination, we kept the companies that passed our stringent evaluation through systematic elimination that got harsher every step till only five remained. Some of the parameters we used for our screening are:

• No Credit Check

It’s paramount that the companies we mention in this article don’t give your credit score much importance when facilitating loans. As such, for this list, we limited ourselves to companies that either don’t care about your credit score or will facilitate your loan even if your credit score has reached rock bottom.

• Annual Percentage Rate

While these online platforms don’t lend money themselves and thus don’t fix the interest rate. The moneylenders associated with our top five companies are known to be fair, offering lower interest rates than what you’d expect from a typical moneylender.

• Easy Loan Approval

A lot of loan service portals have draconian requirements to get loan approvals. Such high requirements make it difficult for people with lower credit scores and less-than-ideal collateral to get any kind of loan. We have listed loan service platforms with more relaxed requirements, and moneylenders do fewer background checks when reviewing your loan application. This process makes it easier to get a loan.

• Variable Amount

We limited ourselves to only loan service companies that offered the widest range of the loan. You can expect loans as low as $600 and as high as $10,000, sometimes even higher. Please note that no loan company offers hundreds of thousands of dollars as a loan without a credit check. It is impossible to do so on such short notice.

• Transparency

We ensured that the companies we suggest are not practicing unethical practices such as loansharking, withholding information (such as interest rates), unfair debt collection practices, etc. The companies listed are followers of high American legal standards like the Truth in Lending Act (TILA), Dodd-Frank Wall Street Reform Act, Fair Debt Collection Practices, etc.

• Security

Your loan application contains personal and sensitive information such as your home address, social security number, and bank account details. It is critically important that this info remains secure and contained. So we chose the online platforms with the highest cyber security offered by reputed third-party security firms such as Norton.

• Customer Feedback

We ensured that the companies that make it to the top five have excellent customer reviews and a high average review score. We delved into numerous customer testaments to judge if they are genuine and see if any problematic elements pop out regarding the company. It gave us a good idea of each company’s reputation among customers allowing us to go for the reputed ones.

• Loan Repayment

Another important category for our selection was the ease of loan repayment. Convoluted loan repayment policies can confuse people, sometimes causing them to miss deadlines. It is a strategy used by loan sharks to delay loan repayment to continue raking in interest. We took extra care to ensure that the companies we recommend do not practice such scummy tactics and offer easy repayment options.

A Guide To Loans With No Credit Check

The online market is teeming with money lending platforms. A simple online search will bombard you with numerous such websites. While they all promise fair practices, moderate interest, and ease of repayment, the ugly truth is that the online loan facilitating business is a dark and dangerous ocean with many loan sharks prowling around looking to hunt for desperate people and pull them into a debt trap. Navigating such murky waters requires experience, tact, and a helpful guide. In this guide, we’ll take you through some important points that you should consider when choosing an online loan platform for an

• Credit Checks

The entire point of you searching for these loan facilitating platforms is that you’d like a loan without the draconian scrutiny of credit checks done by banks. So it’s only logical that you’d only look out for and proceed with companies that offer loans with no credit checks, or even if they do credit checks such as for your credit report, their margin of eligibility is very low.

• Loan Terms

If your loan is approved, make sure to review the loan terms such as approved amount, interest rate, repayment deadlines, repayment options, consequences for non-repayment or delayed repayment. Remember that you are not obligated to accept the loan after it has been approved. Accept the offer only if the terms are to your liking. There are plenty of fish in the sea.

• Interest Rates

The online platforms mainly facilitate loans and won’t have interest rates listed. Once your loan application is processed, a moneylender will contact you and tell you about the interest they charge. A fair moneylender should charge somewhere between 22-25% APR even with poor credit. If the money lender asks for more than 35%, it’s a loan trap, and you should not accept the offer.

• Proper Documentation

Make sure you have all the necessary documentation before you submit your loan application. Documentation includes a government-issued identity card such as a passport or driver’s license, proof of your US citizenship (passport, birth certificate, etc.), or permanent residency (green card). You will also need your bank account statements and proof of employment.

• Loan Amount

Check if the amount of loan the platform offers meets your requirement. Most online platforms will offer no credit check loans within a range of $600-10,000. But sometimes, the limits go lower or higher. Online loan companies are unlikely to give you loans for a very high monetary sum, such as a home or education loan. You need to approach a bank for that.

• Fees

Reputable online loan platforms do not charge any fees for facilitating your loan and getting you connected to a moneylender. They instead get their fees from the lenders. Ensure that the company you are going for doesn’t charge you fees for the “privilege” of this service. It is a mark of a less-than-reputable company.

• Security

Your loan application contains personal and sensitive information such as your home address, social security number, and bank account details. It can cause a lot of damage if the information gets leaked or hacked. Ensure that the money lending portal has good cyber security, such as Norton protection.

Some online loan companies will also sell your information for the free service they provide. The information is sold to money lenders and some advertisement companies. Keep an eye out for such a disclaimer. This process has increasingly become standard practice for almost all such companies, so it’s something you’ll have to accept, but you should be an informed customer nonetheless.

• Customer Reviews

Customer reviews can often give you all the information you need to understand if the loan facilitating company has a good or bad reputation from the experience of past customers. Don’t just fall for a high review score (x number of stars). Please read a few customer testimonials as well to get a good idea of the details. Individual customer experiences can resonate with you and give you vital information crucial for your specific case.

• Fair Practices

Shady companies or money lenders may try to con you into taking a loan with a bad deal. To avoid loan sharks, debt traps, or money lenders sending goons to your doorstep, ensure that the company you reach out for a loan are strict adherents of US money lending law and fair practices such as the Truth in Lending Act (TILA), Dodd-Frank Wall Street Reform Act, and Fair Debt Collection Practices, etc. It means that the money lenders affiliated with the company will not practice illegal or unfair money lending.

• Speed of Approval

If you are in urgent need of a loan, it might be prudent to approach companies that not only have a high rate of loan approval but offer expedited loan approval. Some companies can even process your application and get the money to you in one day.

FAQs About No Credit Check Loans

Q1: How long will it take to approve my loan?

A: There is no fixed approval time for loans, but the faster you submit your application with the required documents, the faster things can move along. For the companies we mentioned, as soon as you apply for a loan through one of these portals, your request gets sent to lenders. Your application gets reviewed and accepted or rejected in a matter of minutes to a few hours. Certain companies even offer loans on the same day as you apply. In the end, these companies don’t give the loan themselves. The moneylender makes the final call, but statistics show that applications don’t sit around gathering dust in these online portals.

Q2: What are the requirements to get a no-credit-check loan?

A: The requirements vary depending on the type of loan you are applying for. E.g., a mortgage loan will require providing details about your house, a car loan will require details about the car you’d like to purchase, and a medical expense loan requires information about medical expenses, such as bills and receipts. That being said, there is some basic information you’ll have to submit regardless of what loan you are requesting. These include:

• Your full legal name
• Your home address, phone number(s), and email
• Evidence of US citizenship (passport, birth certificate, etc.) or permanent residency (green card)
• Your social security number
• A government-issued identification card such as passport, driver’s license, etc.
• Evidence of your income, such as bank statements
• Your employment history (to check any criminal or other offenses)
• Collateral if you want a secure loan
• Some companies may look at your credit history, but it’s not given a whole lot of importance.

Q3: What kind of loans can I request without a credit check?

A: You can request a variety of different loans. These include auto loans, home loans for mortgage, medical loans, or personal loans that can be used for any number of reasons such as paying overdue bills, planning a vacation, etc.

Q4: What is the easiest type of loan to get?

A: Payday loans up to $10,000 are generally the easiest to get as long as you are employed. On your next paycheck, you’ll be expected to pay part of the loan + interest or repay the loan in full. Depending on the amount borrowed, you’ll have about 15 days to a few months to fully repay the loan.

Q5: Is my loan approval guaranteed?

A: No. These online portals expedite the process of getting a loan and make it easier, but you aren’t guaranteed approval. If you have extremely low credit scores, poor employment history, criminal records, etc., moneylenders may deny your application. But there are many factors in play, and even people with low credit scores can get a loan. You’ll never know about your specific case till you put in a loan application.

Q6: How much can I borrow?

A: The amount you can borrow depends on the online platform and how much you get approved for by a moneylender. Sometimes you get exactly the amount you want, while at other times, you get approved for a lower amount based on your background. Generally, you can ask for a quick loan as low as $600 and up to $10,000 or even beyond, such as $20,000 or $30,000 in some cases. Don’t expect loans above $50,000 under any circumstance, no matter the platform.

The Final Word

Life is full of ups and downs, and while difficult times are testing, if you persevere, they will pass. It is predicted that around 11.1% of American people have a FICO score below 550 making it hard to approach banks for a loan. But that is not the end of the road.

Thanks to the internet, several websites offer short-term loans that are given out without checking your credit score history.

This article has listed five excellent companies that offer such loans in small amounts, such as $600, to even large amounts, such as $10,000. These online portals don’t lend you money directly, but rather they connect you to numerous local money lenders from whom you can choose the best loan offer, and they won’t deny you your loan based on your credit history or FICO score. Leading this market is MoneyMutualcare, but all five companies in this list are a guaranteed safe bet with a hassle-free experience and fair interest rates.

If you decide to research an alternate loan facilitating platform, we implore you to use our guide to secure a loan with no credit check. The online loan business is rather shady and teeming, with predatory loan sharks charging an arm and a leg as interest rates.

We are confident that our little guide will help you avoid such predatory money lenders to find a suitable and well-reputed online platform that won’t scam you out of your money or trap you in a vicious, never-ending cycle of debt. Proper repayment of these loans might even improve your credit score so you can eventually approach banks once more.