Getting a loan online

Getting A Loan With Bad Credit

Loans can be a challenge if you have bad credit. At Loan Monkey, we want to make it easy for you. That is why we give you access to one of the largest loan networks on the internet. The lenders may be able to approve you for an installment loan, even with bad credit. Take a minute and complete a short application and get the answer that you need.

Getting Your Quote

If you need money to handle a sudden emergency or need cash in hand, an installment loan or personal loan is for you. Loan Monkey makes it easy by giving you access to one of the largest loan networks on the net. Even if you have bad credit, we may have a lender ready to make you an offer. Let’s find out.


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How To Get A Bad Credit Loan

The process of getting a loan quote is quite simple, even with bad credit. Here is what you need to do, step by step.

  1. First, fill out the quote form at the top of the page. It will ask for a minimal amount of information so it will not take all day. Most people can complete it in a couple of minutes.
  2. Next, review your information and the TOS or Terms of Service and submit your quote form. It will then go to the loan network to find you a lender.
  3. When a lender is found that wants to make you an offer, you will be given the details or terms of the loan. You may be directed to their website or the offer may be sent to you.
  4. Now, read all of the details, making you understand all of the terms and the total cost of the loan. This is the time to contact your lender directly if you need clarification.
  5. If you like everything, you can now accept your loan. If you do not, you can walk away with zero obligation on your part.

That is it, five easy and simple steps that answer the question “how to get a loan with bad credit”.

How Loan Money Can Help

We are not direct lenders which is a good thing for you. Instead, we give you access to a huge network of online lenders. If you need to get a loan with bad credit,  it may not be as hard as you think with the loan network and hear is why.

More Lenders

There are plenty of online lenders who are familiar with dealing with bad or poor credit. They may be able to help you secure a loan even when other lenders have told you no. This is because they can often look past credit problems that other lenders can not. Some of the lenders do not even use the three major credit bureaus. If you have identification, a bank account and a source of income, you have a good chance of getting approved.

Simple Requirements

Lenders in the network do not have s stringent of requirements as other lenders. If you have the basics, you may be able to get an approval, even with bad credit. Have a reliable source of income, a good checking account and no history f loan default and you are in good shape.

Online Access

Convenience is key these day which is why you can do virtually everything online. Your lender might require a document or two but you should be able to submit them online easily and quickly. Complete your loan process in minutes, not days.

Making A Decision

Making a decision on a loan is a serious matter. There could be long term consequences if the loan has bad terms or if you can not afford to make the payments. Before pulling the trigger on your new loan, take a few minutes and consider the following.

  • Is the cost of the loan worth it?
    Not all loans are created equal. Take a look at the total cost of the loan which is the total of all payments that you would make if you carry the loan to full term. If a 1000 dollar loan is going to cost you another 1000 dollars in fees and interest, you might want to think carefully.
  • Can you get the money elsewhere?
    If you have other options, you might want to pursue them before taking out a costly loan. This could be borrowing money from family or friends or possibly selling some property that you do not need. Take a look at all angles before going with a loan.
  • Can you afford the payments?
    If everything looks good as far as terms go, you also need to consider the affordability. Just because you get approved for a loan does not mean that you can afford it. Fit the loans monthly payments into your budget and see what it looks like. If you will be cash strapped, you should think twice before taking the loan.
  • Do you really need the loan?
    Also consider whether the loan is really needed. If you are getting a loan with bad credit, the fees and interest will be high, there is no way around it. If the loan is for something that you do not truly need then its cost is probably going to be too high. If you need a loan for a car to get to work, that is one thing. If you need it for concert tickets, that is a whole other matter.
  • Can you go with a smaller loan?
    If you can cut your expenses a bit or save some of the money that you need, you might be able to trim down the loan amount that you need. If you take out less money, it means less in fees and interest.

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