Bad Credit Personal Loans Guaranteed Approval $5,000

Bad Credit Personal Loans Guaranteed Approval $5,000

We’ve all been there–you need cash in a short amount of time, but you don’t know where you’ll be able to get it from. Whether you need to cover medical bills, cover unexpected expenses, a house repair, or pay off other high-interest debts quickly, many will often turn to a personal loan at this time. But, especially if you have a bad credit history, this may become even more impossible. 

Luckily for you, there are bad credit personal loans where you can get guaranteed loan amounts of $5,000–even if you have a poor credit score. So if you need to know where to get guaranteed bad credit loans, continue reading below as we walk you through what a bad credit personal loan is, whether you can get bad credit personal loans guaranteed approval 5 thousand, and the steps you can take to determine if this is the right move for you. 

What Is A Personal Loan For Bad Credit?

Let’s first begin our discussion by defining what a bad credit personal loan is before we discuss where you can find bad credit personal loans guaranteed approval. 

As you may be able to gather from the name, a bad credit personal loan is a loan that is offered specifically to borrowers with a bad credit score. They can be used for a variety of reasons, just like traditional loans, like for debt consolidation, covering unexpected expenses, paying off medical bills, and more. 

However, with a bad credit personal loan, borrowers generally won’t find competitive rates, though they will generally have a fixed interest rate that results in predictable and fixed monthly payments over the repayment period. Plus, as compared to traditional loans, they’ll often pay more fees like an origination fee or other hidden fees that may get waived when you have a higher credit score.  

Each lender will have their own definition of what a bad credit score is, but generally if it’s below 600, you may need to turn to bad credit loans if you need funding. 

How Do Bad Credit Personal Loans Guaranteed Approval Work?

Now with a better understanding of what bad credit personal loans are, you may be wondering how bad credit personal loans guaranteed approval work. 

First, let’s make it clear that there is typically no way to fully get bad credit personal loans guaranteed approval. Each lender will still review your application and credit rating to some degree before they let you borrow money. After all, they still want to know that they will get paid back. Thus, there will still be an approval process that you’ll have to go through, even if it’s tailored to those with fair credit or worse. 

Additionally, there may be a lower maximum loan amount that you can qualify for with bad credit personal loans guaranteed approval. If there are lenders out there who will offer personal loans guaranteed, they often won’t do so at high loan amounts. So, this is something to keep in mind depending on the amount of money you plan on borrowing. 

Typically, when you find bad credit personal loans guaranteed approval, they will come at a high interest rate, and may require you to put up some sort of collateral in exchange like a checking account, or other personal property. Unsecured loans are generally harder to secure if you have bad credit, so many bad credit personal loans are often secured.

Most lenders that offer bad credit personal loans guarantee approval, explaining that you can get approval in just a few minutes, and receive the funds in a business day or two. If you are approved for a bad credit personal loan, you’ll typically begin repayment immediately, making monthly payments back to the lender. 

Above all, it’s important to keep in mind that it may be difficult to find bad credit loans guaranteed approval without any application process. However, some of these lenders do exist, but you should be aware of the drawbacks of taking out this type of personal loan. 

What Are The Requirements For A Bad Credit Personal Loan?

Just like with any other personal loan, lenders for bad credit personal loans guaranteed approval will still need to qualify you based on your financial history, your credit and more. Many will still have a minimum credit score that they consider, so make sure you are prepared for a credit check. Most personal loans for bad credit will require you to put up some type of collateral, which can be a checking account or car title if you own your vehicle, so keep this in mind before you apply for personal loans guaranteed approval. They’ll also likely want to see proof of employment or pay stubs to see if you’ll be able to make the repayments on the personal loan. So, they may also have a minimum income requirement in order to qualify you for the loan. 

How Can You Get A Bad Credit Personal Loan Guaranteed Approval $5000?

If you’re looking for bad credit personal loans guaranteed approval of $5,000, you’ll need to shop around to see which lenders have this type of offer. Most credit unions and banks will not offer bad credit personal loans guaranteed approval, so you may need to turn to online lenders in order to compare multiple loan offers and see what loan options are out there for people with bad credit. 

Once you find a lender that offers bad credit personal loans guaranteed approval, you’ll need to go through their application and provide whatever necessary information and documentation they require like your credit history, proof of employment and more. After doing this, you’ll need to wait for approval and arrange how to receive the funds if they approve you for the bad credit personal loan. 

What Are My Options If I’m Denied A Loan?

Bad Credit Personal Loans Guaranteed Approval $5,000

Again, there is no guarantee that you will qualify for bad credit personal loans. However, there are some alternatives available to you if you still need the funding. First, you can take a look at your application and see if there are ways to improve it. This may mean applying for the personal loan with a co-signer or co-applicant with better credit scores if you haven’t already. 

Additionally, you can work on your credit scores on your own, trying to build up to a good credit rating. This means making your existing payments on time, in addition to other tips you can utilize to raise your score to good credit. 

You may also want to do a credit check from other credit bureaus if you haven’t already done so. There are three major credit bureaus that report your credit, and they can each have a different score for you. So, you may have a higher score already according to a different bureau, which could help your chances of getting through the approval process. 

Lastly, if you’re unable to get bad credit personal loans guaranteed, but you still need the money quickly and don’t have time to work on your credit, you can check out the following alternatives to help out your financial situation. 

Credit Card

If you don’t qualify for a bad credit personal loan, you may want to turn to a credit card with a 0% APR introductory offer. This means you can essentially borrow for free while you’re within the offer period, compared to bad credit personal loans that start charging high interest immediately. 

Of course, if you have bad credit, it may be difficult to qualify for a credit card with this type of offer. However, it’s worth checking out. 

Many people use this type of offer to consolidate debt, and it’s generally only a good idea to do so if you know you’ll be able to pay the debt off during the introductory period before interest starts incurring on the balance. 

Home Equity Loan

If you can’t qualify for a bad credit personal loan, you may be able to get a home equity loan if you’ve built up equity in your home. This means you’ve been paying a mortgage for a few years now, and you can draw down on a certain portion of your equity. 

Since this is a secured personal loan, it’s generally easier to qualify for than an unsecured personal loan. However, you still must apply and get approved for it, which may be tough if you have bad credit. 

Keep in mind that if you take out this type of loan instead of a bad credit personal loan you’ll be putting your house on the line. So, make sure you know that you’ll be able to afford your monthly payments, otherwise you could get your home taken away from you by the lender. 

401(k) Loan

Bad credit borrowers will enjoy this as an option because you don’t need to go through any approval process or get approved by a bank in order to borrow money from your 401(k). After all, this is your own money that you’ve set aside so far, so you’re technically borrowing it from yourself. 

Be aware of the tax liabilities you’ll face if you take this route compared to taking out a bad credit personal loan. Plus, you’re taking away from your retirement savings, which could be detrimental the closer you get to retirement age. 


Bad credit personal loans guaranteed approval are a type of loan specifically designed for borrowers with bad credit. However, it may be tricky to find lenders that actually will guarantee your approval, especially without paying hidden fees or high interest rates.

It does appear as if there are options if you’re looking for an online lender who will let you apply for bad credit personal loans guaranteed approval of $5,000. But make sure you’re making good financial decisions even if you have bad credit, and only go through the application process and take out a bad credit loan with high-interest rates if you know you’ll be able to make the repayments. Otherwise, you could tank your credit score even further if you miss out on payments on default on the personal loan.

Frequently Asked Questions (FAQs)

Can you get bad credit personal loans guaranteed approval?

There are some lending partners out there that promise to provide bad credit personal loans guaranteed approval. However, most will still have some type of application process that borrowers will need to go through before borrowing money.

Can I get bad credit personal loans guaranteed approval with a fair credit score?

This will depend on the requirements of each lender, but if you have a fair credit history, you should be able to qualify for a bad credit personal loan. 

Do banks offer loans for people with bad credit?

Many banks will not provide a personal loan to someone with bad credit, so you’ll have to seek out other lenders if you’re in this situation.

Can you find competitive rates on bad credit personal loans?

You will generally pay higher interest rates if you take out a personal loan with bad credit. They charge higher interest rates to make up for the increased risk they’re taking on by lending to you, which means you won’t find competitive rates. 

Can you apply online for a bad credit personal loan?

You will likely find most lenders for bad credit personal loans with guaranteed approval online. 



Bizreport - Bailey Schramm
Bailey Schramm, BS
Finance Advisor
Bailey Schramm is a writer based out of Jackson Hole, WY, primarily covering topics and trends in financial services, business, and the blockchain. With a background covering stock market developments for a major FinTech company, she now provides SEO and content strategy services to financial service companies and tech startups.


Kristina Knight-1
Kristina Knight, Journalist , BA
Content Writer & Editor
Kristina Knight is a freelance writer with more than 15 years of experience writing on varied topics. Kristina’s focus for the past 10 years has been the small business, online marketing, and banking sectors, however, she keeps things interesting by writing about her experiences as an adoptive mom, parenting, and education issues. Kristina’s work has appeared with, NBC News,, DisasterNewsNetwork, and many more publications.

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