Getting loan approval can be challenging when you need a better credit score or history. However, many great lenders specialize in providing loans to people with less-than-stellar credit scores—and they’re willing to work with you.
Many people in Pennsylvania have found themselves needing a short-term loan to pay an emergency expense—but they have bad or no credit.
This article will discuss the top four best lenders and some tips for finding lenders who can give you loans despite your credit history. We’ll also give you a few pointers on what to look for when choosing a lender and how to avoid scams.
Best Bad Credit Loans in Pennsylvania
Overall Best Bad Credit Lender in Pennsylvania, Editor’s Pick
4.9
24-hour payment guaranteed
No
Credit Score Required
$200 - $5,000
Loan Amount
Top Choice For Bad Credit Loans
Top-rated Poor Credit Loan Pennsylvania
Top Choice: Exclusive Personal Loan For Bad Credit
According to TransUnion, about 12% of Americans take personal loans, with balances averaging $9,896 per person. This statistic shows that a percentage of the population relies on bad credit lenders.
However, getting the best lenders takes a lot of work. You can opt for multiple options if you’ve got bad credit and need a loan.
But if you’re looking for something better, then consider the following companies:
Overall Best Bad Credit Lender in Pennsylvania, Editor’s Pick
Money Mutual is an excellent choice for bad credit loans in Pennsylvania. They offer simple and fast application procedures and flexible repayment options to help you repay your loan faster.
The company also has a strong reputation for understanding the needs of its customers, which can be helpful if you’re looking for an online lender that cares about helping you succeed.
- Loans up to $5,000
- Get paid in less than 24 hours
- Simple three-step loan application process
- Fast lender decision
- Interest rates may be high for specific lenders
Why Should You Trust Money Mutual
Eligibility for loans with Money Mutual is relatively easy. The company only requests a little compared to what it offers its customers.
If you have bad credit and want a loan from Money Mutual, you have to be aware of the following criteria:
- Possibility of getting a loan
If you’re worried about getting approved for a loan with bad credit, Money Mutual is here to help! They’ll work with you one-on-one until they find the right option for your needs.
- After loan services
The company also provides after-loan services such as debt management, credit counseling, and budgeting advice so that you can improve your financial situation even after receiving your loan from them.
- What type of loans do they offer?
Money Mutual obtains loans for people with bad credit or no credit history. They offer loans that can be used for almost any purpose, including home improvement, debt consolidation, business start-up, or even college tuition fees.
Eligibility Criteria:
Money Mutual is the leading provider of bad credit loans in Pennsylvania. The company has been around for over a decade, so you can trust that they know what they’re doing.
Lenders perks
- Each lender follows their requirements
- Lenders provide instant reviews and answers
- Lenders can contact you to get more information before disbursing a loan
- Money Mutual has a high lender approval rate
Fees
- Money Mutual is free to use
- Upon approval for a loan, you can negotiate loan fees and repayment terms with your lender.
Time to receive funds
- It takes less than 24 hours for your loan to be deposited directly into your bank account.
Requirements
- You must be a citizen of the United States
- You must be of legal age, 18 or older
- You must be currently employed (full-time or self-employment) or receiving regular income
- You must have a steady source of income of at least $800 monthly
- You must possess an active checking account under your name
Premier Selection for Loans Despite Bad Credit
Bad Credit Loans is a lender operating in Pennsylvania that offers loans to people with bad credit. They have been in business for over 30 years and specialize in helping customers with long-term financial difficulties.
Bad Credit Loans has an extensive network of lenders nationwide. The company also offers many loan types that you can apply for online or at one of its many branches throughout Pennsylvania.
- Loan request up to $10,000
- Not too much personal information is needed
- Has an extended network of third-party non-lender lender network
- It may take a while to find a lender for inferior credit scores
Why Should You Trust Bad Credit Loans
Bad Credit Loans is a lending company specializing in helping people with bad credit get the money they need, even if they have a history of financial missteps.
The best part about Bad Credit Loans? The company guarantees you’ll get approved for a loan no matter your credit score.
- Possibility of getting a loan
With its extensive network of lenders and third-party non-lender lenders network, you don’t have to worry about being turned down for a loan because of your past financial mistakes—you can rest easy knowing that your finances will be taken care of.
- After loan services
The company is known for its customer-first approach. If you have questions about your loan or need help sorting some problems out, call the company at 1-800-245-5626 and speak to an agent who will be happy to help you.
They may offer you access to offers for debt relief, credit repair, and numerous credit-related products or services.
- What type of loans do they offer?
The company provides loans for various purposes, including personal, credit cards, business, student, auto, home, and mortgage loans.
Eligibility Criteria:
You must meet specific requirements to get a loan with Bad Credit Loans.
The following are the criteria for bad credit loan eligibility with Bad Credit Loans:
Lenders perks
- Convenient online form
- Loan terms may be a bit different from others
- Numerous loan offers
Time to receive funds
- Funds will be deposited as early as the next business day
- Sometimes, timeframes may depend on the lender’s deposit process
Fees
- No fees are requested for the application
- Respective lenders decide upon interest rates and fees
Requirements
- Must be 18 years or older
- Proof of citizenship (Social Security number or legal residency)
- Must have a regular source of income (full-time employment, self-employment, or disability/social security benefits)
- Must have a personal checking account
- Must provide work and home phone numbers along with a valid email address
Pennsylvania's Premier Bad Credit Loan Provider
CashUSA is a short-term lender with locations nationwide, including Pennsylvania. The company provides loans to people with bad credit and other financial issues.
CashUSA is not a direct lender; it only connects applicants to lenders without going through a mediator. The company offers personal loans, auto loans, an
- Request loans for up to $10,000
- Safe and secure loan application process
- protects personal information with industry-standard encryption and security measures
- You must discuss with lenders in a situation of default
Why Should You Trust CashUSA
CashUSA wants to help you get back on your feet.
The brand has been helping people in Pennsylvania with their financial needs for nearly 20 years. They have a solid commitment to customer service and a long history of providing loans to people who need them, regardless of their credit history or income.
- Possibility of getting a loan
CashUSA is one of the leading lenders that offer bad credit loans in PA, so if you’re looking for cash, they can help! Its online application makes it easy to apply from anywhere, any time, so getting approved for a loan is just a click away.
- After loan services
CashUSA offers other after-loan services to both approved and unapproved customers. Customers will be provided access to some services, and limited information about customers will be passed on to CashUSA partners to help people with bad credit access credit repair, debt relief, or similar services.
- What type of loans do they offer?
They offer all kinds of loans, including personal loans and business loans. They aren’t able to give you a massive loan above $10,000, but they will help you find an amount (between $500 and $10,000) that works for your financial situation.
Eligibility Criteria:
CashUSA is a customer-focused company and keeps its eligibility criteria to a minimum. If you meet specific requirements, you will be approved for a loan and otherwise contacted for additional information to review your chances for approval.
Lenders perks
- Offers loans to customers ranging from $5000 to $10,000
- Loan durations may be up to 90 days and 72 months (6 years)–depending on the loan amount.
- Keep personal information required to a minimum.
- The loan application procedure with lenders is carried out securely and discreetly.
Time to receive funds
- The loan amount is disbursed as quickly as one business day
Fees
- CashUSA charges no fee or costs for submitting a loan request
- Lenders on the lender network offer rates ranging from 5.99% to 35.99%
Requirements
- You must be a U.S. citizen or permanent resident aged 18 years or older
- You must have been employed for at least three months and meet your Lender’s minimum income-specific requirements
- You must have an active personal checking account
- You must possess or be able to provide your work and home telephone numbers and valid email addresses.
Preferred Option: Exclusive Personal Loan Tailored for Individuals with Bad Credit
Personal Loans is one of the few companies that help people with bad credit get access to loans with a presence in Pennsylvania.
They are one of the best lenders for bad credit loans in PA, and their service is easy to use. All you need to do is fill out an application and wait for them to contact you.
- Offers a third-party non-lender lender network to increase chances of finding a loan
- Lenders offer competitive rates
- Can request any type of loan
- It does not provide prequalification
Why Should You Trust Bad Credit Loans
Personal Loan is a brand that’s been around for years, and they’ve always put customers first. They understand the importance of lending to people in PA who may have bad credit, and they’re committed to helping you get the money you need to succeed.
- Possibility of getting a loan
Personal Loans can help you find the right fit regardless of the loan type. Their online application process is easy to use and takes just a few minutes—you can apply on your phone! With Personal Loans, there’s no need to go anywhere else.
- After loan services
And after you take out your loan, they’ll still be there for you with support services like credit counseling and debt relief plans (which could save you thousands in interest payments).
- What type of loans do they offer?
The company also offers after-loan services like insurance plans, budgeting tools, and credit monitoring so that you know exactly what payments are coming up and how much they’ll be.
Eligibility Criteria:
You must know certain things about Personal Loans before commencing the loan process. The following criteria will show whether you are eligible for a loan with the company.
Lenders perks
- You get funded directly with Personal Loans lenders
- The lenders on the Personal Loans network offer competitive interest rates
- Loan terms may last as long as 72 months (6 years) or as short as 90 days (3 months)
Time to receive funds
- It takes one to five business days for a loan to be deposited
- Deposit time may be dependent on the exact time of loan approval and vary across lenders–depending on their preferred deposit method
Fees
- There are no hidden fees when you use the site
- No upfront costs
- You can review rates and prices before accepting any loan offers
- APR rates offered range between 5.99% and 35.99%
Requirements
- The minimum age requirement is 18 years, and you must be a U.S. citizen or permanent resident with a valid Social Security Number.
- You must either be fully employed or self-employed. You can also be receiving regular disability or Social Security benefits. (Particular lenders may ask you to provide a pay stub or other means of income verification)
- Most lenders on the Personal Loans network require that you must possess a valid checking account in your name.
What Credit Score Do I Need to Get a Bad Credit Loan in Pennsylvania?
If you’re looking for a loan to help you get out of debt or to make a big purchase, one of the first questions you may have is, “What credit score do I need?”
Some lenders will give you a bad credit loan with a lower credit score than others, while others may require that you meet specific minimum requirements before approving.
Some lenders require borrowers to score at least 600 or higher to qualify for a bad credit loan. Other lenders may offer loans to people with scores as low as 300 if they meet specific requirements.
You must know what kind of score they are looking for before applying so that you can determine whether or not they will be able to provide financing.
The range of a FICO Credit Score is 300 to 850. The credit score you need to get a regular loan in Pennsylvania depends on your lender, but typically it’s somewhere in the 600s or 700s.
While some lenders may be willing to work with borrowers with lower scores, they usually charge more interest or fees than those with higher scores.
The minimum credit score to qualify for a bad credit loan in Pennsylvania is 350. This means you are only eligible for a bad credit loan if your credit score exceeds 350.
If your score is above 350, you can apply for a bad credit loan. In addition to having a high enough score, you will also need to meet the other requirements of the loan company.
These requirements may include:
- Having a stable monthly source of income
- Being at least 18 years old
- Having been employed for at least three months
What Interest Rate Will I Pay?
Pennsylvania’s credit laws are more restrictive regarding payday and high-interest loans than many other states. If you want to apply for one of these loans, your lender must ask for more information about your financial situation before approving or denying your loan application.
In general, payday lenders charge between 18% and 36% APR on their loans, which means that if you borrow $500 for two weeks at a 20% APR, expect to pay back $525 at the end of those 14 days: $500 plus an additional $25 in fees and interest.
However, regulators like the Consumer Financial Protection Bureau (CFPB) found that some lenders offer rates as high as 400% APR—which means they could end up charging you as much as $1,000 in fees over two weeks!
However, your interest rate may also depend on the type of loan you are requesting. So, if you want to know what interest rate you’ll pay on a loan, you first need to figure out what kind of loan it is.
Are Payday Loans Legal in Pennsylvania?
Payday loans are illegal in Pennsylvania, so you might have to look harder for them.
In 1998, the state placed a ban on payday lenders. The state felt that these lenders were charging exorbitant interest rates and giving borrowers more money than they could afford to pay back. Some of these loans had interest rates as high as 1700%.
If you’re looking for a payday loan in Pennsylvania, you should know that these lenders can charge up to $6 per $100 of your principal balance. They can charge up to a 6% annual percentage rate (APR) if your loan is less than $50,000.
If you live in Pennsylvania, where payday loans are illegal, you may wonder how you can get a loan when you need one—and why payday loans are illegal.
Payday loans are short-term cash advances that help people with financial difficulties make ends meet until their next paycheck. The lender gives you the money and charges an interest rate on top of it (usually around 30% or even higher).
The problem is that payday lenders tend to target people who have a limited amount of money or access to credit cards. As they’re expensive and designed to be paid off quickly, they often put borrowers into more debt than they already had before taking out the loan.
In addition to being expensive and harmful to borrowers’ finances, payday loans also tend to be unavailable through traditional banks and lenders because they aren’t considered “safe” investments for investors. So if you’re looking for quick cash, consider other options!
Residents of Pennsylvania have been advised by the Pennsylvania Department of Banking and Securities to desist from accepting loans from payday lenders and have recommended a few alternatives to these illegal loans that include:
- Loans from a Credit Union
- A payday advance from the company of employment
- Enter negotiations with lenders to increase credit limits or renegotiate repayment terms
- Pay a late payment fee, which is probably a few times less costly than the interest charged by payday lenders
Your Best Options for the Best Bad Credit Loans in Pennsylvania
Many options are available in Pennsylvania regarding finding a bad credit loan. But if you’re looking for the best bad credit loans in Pennsylvania, you must know what you’re looking for.
Consider a secured loan or an installment loan, but neither of these options will be suitable if you need quick cash and don’t have any assets that can be used as collateral. If this is your situation, a personal loan might be more appropriate.
The lender agrees to give you money upfront with no interest attached up until the date when your next paycheck arrives—typically two weeks after applying for the loan—and then charges an interest rate equal to about 300% annually on any remaining balance (that is if there is one).
Here are some of your best options for getting a loan with bad credit in Pennsylvania:
Pawn Shop Loans:
A pawn shop loan is not just for those dealing with financial difficulties—it can also be used as an emergency fund or a way to pay off other loans.
The amount you borrow will depend on what kind of collateral you have available (as well as how much money they think they can make from reselling it).
Title Loans
A title loan uses your car as collateral to secure the loan. You get a lump sum of cash for taking out this type of loan, but if you don’t pay it back on time, the lender takes your car as payment instead.
Cash Advance
A cash advance on your credit card is another option with high-interest rates and associated fees. It’s best used as a last resort since these loans carry huge interest charges if paid slowly enough.
FAQs : Regarding Bad Credit Loans In Pennsylvania
What is the easiest bank to get a personal loan from?
The most accessible bank to get a personal loan is one that understands you don’t have great credit but knows you’re working hard to change your financial situation.
They’ll want to see that you’ve been making payments on time for some time now, and they’ll be willing to work with you to help your credit score grow.
Can you get a personal loan with a credit score under 550?
Yes, you can get a personal loan with a credit score under 550. However, your chances of being approved for the loan will depend on your debt-to-income ratio and other factors like how much you make monthly and your job title.
In what cities of Pennsylvania bad credit loans are available?
Bad credit loans are available in all cities of Pennsylvania, including Philadelphia, Pittsburgh, Allentown, and Harrisburg.
Where do you provide online bad credit loans in Pennsylvania?
You can apply for bad credit loans online from anywhere in Pennsylvania. However, using from your home city is always recommended, where you can visit the branch easily if necessary.
Brands also provide bad credit loans online with the same terms as offline. You can apply for a loan online by visiting their website and filling out the application form.
Are bad credit loans in Pennsylvania available with guaranteed approval?
Yes, bad credit loans in Pennsylvania are available with guaranteed approval. A few lenders still offer this service at their discretion, but most will only do so if you have a job and proof of income.
Conclusion: Will anyone lend me money with bad credit?
If you live in Pennsylvania, we hope you found our list of bad credit loans helpful. Each of the lenders reviewed here offers different services, each with advantages and disadvantages.
By now, you should already know what to expect when visiting these bad credit loan lenders. Browse their sites, follow the advice they have to share, and you should be well on your way to securing the money you need.
But no matter which one you choose, you can be confident that your loan application will be processed quickly and efficiently so that it doesn’t interfere with how you run your day-to-day life
