Payday Loans for Bad Credit

If you have bad credit, your chances of getting a loan are slim. Luckily, at CocoLoan, we understand that your past financial history might not accurately depict your current situation. Therefore, we strive to connect you with reputable lenders who can offer you payday loans for bad credit.

$2,500
Want to borrow more than $5,000? Click here!

Can I Get Payday Loans With Bad Credit?

Yes. You can secure a payday loan even with bad credit. One of the main advantages of bad credit payday loans is that lenders consider other factors when approving your loan. Consequently, these loans are viable for different types of credit.

What Are the Benefits of Bad Credit Payday Loans?

The following are the perks of bad credit payday loans.

Quick Approval

You will be working with direct lenders who offer quick funding. Typically, it takes a few minutes for lenders to review your application. Once your loan is approved, money is credited to your bank account within 24-48 hours.

Easy Loaning Process

The loaning process from lenders is also simple and straightforward. You can submit your details within minutes before lenders determine whether you qualify or not.

All Credits Considered

Perhaps the main advantage of payday loans is that all credit types are considered. Whether good or bad credit, you can still get funding. Besides checking your credit scores, lenders use other factors to determine your eligibility. For instance, your employment history and income can be used during approval. So, bad credit won’t deter you from getting payday loans.

No Collateral Required

Lenders won’t require any form of security to process your loan. Therefore, you don’t have to worry about having specific assets to use as collateral.

No Big Commitment

Payday loans are short-term loans. Lenders will provide you with small loans that you can repay comfortably within the agreed timeframe.

Fast and Easy Loans You'll Need

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How to Get Online Payday Loans for Bad Credit?

It’s easy to get payday loans for bad credit over the internet. When working with our lenders, they are more concerned about your ability to repay your loan and not your credit history. Therefore, all you have to do is to pick an online lender from the multiple offers you will get.

Some of the common eligibility requirements lenders require you to meet include:

  • You must have a valid proof ID
  • You must have an active checking account
  • You must be of legal age (18 years)
  • You should have an email account and phone number

Three Steps to Get Quick Payday Loans With Bad Credit Through CocoLoan

Our loaning process is fast. You can get a loan from one of our partner lenders through the following steps:

Submit Your Details

Fill out an online loan form through our platform. Lenders will want to know you and determine whether you qualify for payday loans.

Review Process

Once you submit your details, lenders will review your information. Usually, this should take minutes. You will sign a loan agreement to consent to the stipulated terms and conditions if your loan gets approved.

Get Your Funds

After lenders approve your loan, money is sent to your account within the same day or the following business day.

How Does CocoLoan Compare

default imgWhy Trust CocoLoan?
How much can you get?$50 to $35,000Zero upfront charges
What are the loan terms?1 - 36 monthsEasy repayment
Are credit checks needed?YesMostly soft pulls
Are bad credit accepted?YesAll credit considered
How to apply?Totally onlineSimple and straightforward
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What Can a Bad Credit Payday Loan Be Used For?

You’re free to use the payday loan to meet any urgent expenses you might be dealing with. For example, you can use the money to pay for:

Car Repairs

A bad credit payday loan can be used to pay for unexpected car repairs. Your car can stall when you least expect it, and a payday loan can greatly help here. You can fix your car for convenience purposes and repay the loan when you get your next paycheck.

Rent/Mortgage Payment

If you’re short on your rent or you don’t have enough money to pay for your mortgage, a small payday loan can be used to cover these expenses. However, you should ensure that payday loans aren’t your means to pay your rent.

Grocery Bill

You can also use a payday loan for bad credit to cover your grocery bill. Therefore, you don’t have to fret when you suddenly notice you don’t have enough money for groceries.

How much would you like to borrow?

$2,500

How Can I Improve My Bad Credit Rating?

Taking bad credit loans is okay, but you must know how to improve your bad credit rating. This helps, especially when you want to borrow higher amounts or secure other loan types.

Timely Payment of Your Bills

Paying your bills late can negatively affect your credit score. So, ensure you pay your rent, mortgage, car loans, utilities, and other dues on time. Consider enrolling for automatic payments so you don’t skimp on these payments.

Length of Credit History

A long credit history that is well maintained gives you a good credit score. Therefore, keep your credit account open even when you’re not using them.

Lower Your Credit Utilization Ratio

Lenders will find you creditworthy if your credit utilization ratio is below 30%. To keep this rate low, always pay your balances on time and ensure you spend less.

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Submit a Request for the Bad Credit Payday Loan You Want!

Quit worrying about your bad credit and submit your loan details today for quick funding. CocoLoan will help you get the financing you need. Remember, we partner with trustworthy online lenders.

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