Bad credit doesn’t have to stop you from getting the financial help you need. Borrowly makes it easier to explore personal loan options even if your credit history isn’t perfect.

Our service focuses on smaller, practical loan amounts that real people use for real-life situations—everything from emergency bills to unexpected repairs. Applying is always free, there’s no hard credit check to get started, and you can often receive a decision in just minutes.

Is It Possible to Obtain a Guaranteed Approval Loan If You Have Bad Credit?

No legitimate, regulated lender can offer a “guaranteed approval” loan—especially not for borrowers with bad credit. Every loan request must follow state eligibility rules and must include a basic review of income, employment, and financial history.

Borrowly helps make the process easier by connecting you with lenders who specialize in working with bad credit applicants. This can increase your chances, but it does not guarantee approval. Expect a soft credit check and income verification with every application.

Can you get No Credit Check Loans here?

You may see ads online claiming “no credit check loans,” but any lender must verify your ability to repay the loan. True no-credit-check loans are rare and often come from unsafe lenders.

This means:

• Soft credit checks may be used during application
• These checks do not affect your score
• A hard inquiry only happens if you accept an offer
• Income verification is always required

This protects both you and the lender and ensures responsible, legal lending practices.

Same-Day Funding — What You Should Expect

Some lenders are able to approve and deposit funds on the same day, but not everyone will qualify for instant funding. Approval speed depends on several factors:

• The time of day you apply—earlier gives better chances
• How quickly your bank processes incoming transactions
• Whether the lender requires additional income or identity verification
• State-specific rules that may require in-person verification

For most borrowers, funding typically arrives on the next business day.

Online Installment Loans for Bad Credit

Installment loans are one of the most common options for borrowers with bad credit. They come with predictable monthly payments and longer repayment schedules, making them easier to manage than a single lump-sum payday loan.

Depending on the lender and your state:

• Loan amounts may range from $200 to $5,000+
• Repayment terms vary from a few months to a few years
• APRs depend heavily on state law and your credit profile

These loans work well for people who prefer structured payment plans.

How Bad Credit Loans Work

If your credit score is below 580, it’s typically considered “bad credit.” That score can come from late payments, collections, high credit utilization, or simply not having much credit history at all. While a low credit score may affect the offers you receive, it doesn’t automatically prevent you from being approved for a loan.

Lenders who work with bad credit borrowers often consider factors beyond the score itself. Your income, job stability, and banking history play a major role in determining whether the loan is affordable for you. When you apply through Borrowly, the initial credit check is a soft pull, which means it does not affect your credit score. Only if you accept a loan offer will the lender perform a hard credit inquiry, which may have a small temporary impact.

Types of Loans Available for Bad Credit

Borrowly works with lenders that provide a variety of loan types designed to serve different needs and situations. Depending on your state and the lending partner, you may see options such as:

Installment Loans for Bad Credit

Installment loans are repaid over time with fixed monthly payments. These loans offer predictability and can be used for larger or unexpected expenses. Typical amounts range from $1,000 to $5,000, and sometimes more depending on state rules and lender policies.

Payday Loans for Bad Credit

Payday loans are small, $100 to $1,000, short-term loans usually repaid in full on your next payday. These fit immediate, short-term financial emergencies. Because of state laws, payday loans are not available everywhere.

Personal Loans for Bad Credit

This category covers both short-term and long-term loans. They are flexible and can be used for almost anything—medical bills, car repairs, consolidating debts, or even household expenses. Personal Loan amounts across all lenders range from $1,000 up to $50,000, though most people qualify for amounts between $1,000 and $5,000, depending on income, credit, and your state’s regulations.

Across all loan types, APRs typically range from 5.99% to 35.99%, but exact terms depend on state law and the lender offering the loan.

What Borrowly Actually Does

Borrowly is not a lender and does not make loan decisions. Instead, we provide a safe, secure online system that helps connect borrowers with independent lenders who offer loans to people with bad credit. The service is always free to use—there is no cost to apply or to submit your information.

Borrowly’s role is simple:
• Provide a secure application
• Send your information to lenders who operate legally in your state
• Allow them to evaluate your request
• Present available loan offers for you to review

You will always be shown the complete loan details before deciding whether to accept an offer.

Who Can Apply – Requirements

Eligibility requirements vary by state and lender, but most borrowers will need to meet the following:

• Be at least 18 years old
• Be a U.S. citizen or permanent resident
• Have a checking account
• Have been employed for at least 90 days
• Earn at least $1,000 per month (though around $2,000 increases your chances)

There is no minimum credit score required to apply. People with bad credit or limited credit history can still be considered.

How the Application Process Works

Applying for a bad credit loan through Borrowly is simple and takes just a few minutes. You start by completing a single online form that collects basic information about your income, employment, banking history, and contact details.

Once submitted:

• A soft credit check is performed—this does not affect your credit score.
• Lenders review your information to determine which loan offers you may qualify for.
• You may receive a decision in minutes.
• If you accept a loan, the lender may perform a hard credit check.
• Funds are usually deposited by the next business day, although same-day funding is sometimes available.

Providing accurate and complete information helps avoid delays or additional verification.

State Availability & Restrictions

Loan availability varies by state. Many states allow installment loans and personal loans for bad credit, while others restrict or prohibit certain products. As of 2025 Borrowly currently cannot provide services in a total of five states.

Examples of states we provide our services in include Florida, Indiana, Arizona, California, Tennessee, Texas, Ohio, Illinois, and Michigan.

For all states, loan amounts, APR caps, renewal rules, and verification requirements depend on state law. In some states, same-day funding may require in-person verification at the lender’s discretion.