Guaranteed Loan Approval No Matter What

Good news for people with a bad credit score!

There are two types of situations where a person may need a loan: for the future and for emergencies. If you’re looking to buy a house in the next couple of months, or your kid will be off to college next year, you could start working on the loan with the hope to receive it when the time comes.

The other are emergencies. For instance you’ve had a medical emergency and need immediate cash for treatment, or your car broke down and you want cash to get it repaired, in such cases you’re looking for a guaranteed loan where there is no room for rejection. There are loans that have guaranteed approval even for people with bad credit ratings.

What is Guarantee for a Loan called?

A guaranteed loan is where a third party assumes the risk of the borrower defaulting on the loan. Guaranteed loans are generally payday loans; which are short-term loans handed out to people for their emergencies. These generally have a higher interest rate because of the risk of bad credit borrowers defaulting on the loan.

These are specifically reserved for poor credit borrowers who would be rejected a loan otherwise. To avoid that situation, a payday loan is granted on a high interest rate. This situation is a guaranteed loan approval no matter what.

Bad Credit Loans Guaranteed Approval

Payday loans are also considered as bad credit loans because these are specifically for people with poor credit. Not only do they get immediate cash for their financial emergencies, but also gives high risk borrowers a chance to fix their credit score. If they pay back their loan promptly, they could actually improve their poor credit.

Types of Bad Credit Loans

  • Secured and unsecured personal loans: a secured loan is where you need some sort of collateral to ‘secure’ the loan; this could be a house, car or any of your assets. An unsecured loan doesn’t require any collateral, so the interest rate charged is also very high.
  • Payday loans: short-term loans given out as emergencies. The limit can be anywhere from $100 to $500.
  • Subprime loans: usually associated with auto loans; if a person is rejected from banks or credit unions based on their poor credit, such people usually qualify for subprime loans.
  • Cash advances: this is also a short term loan that is disbursed as cash and is borrowed against your credit card’s available loan.
  • Home equity loans for poor credit: these disburse a lump-sum money upfront and you have to pay in installments. However this type of loan uses your house as collateral, so if you fail to pay the loan, the lender is well within his rights to claim a portion of your house.
  • HELOCs for poor credit: these loans work like a credit card, meaning you’re allowed to borrow as much as you like.

Bad Credit Loan Rates

Here are some of the rates for guaranteed loan approval no credit check direct lender.

Bad Credit Loans Poor credit scores Not specified 5.99%–35.99% Not specified $10,000
Upstart Limited credit history 600 8.69%–35.99% $1,000 $50,000
OneMain Financial Secured loans Not specified 18.00%–35.99% $1,500 $20,000
TD Bank Personal Secured Loan Credit building Not specified Starting at 5.67% $5,000 $50,000
Avant Unsecured loans 580* 9.95%–35.99% $2,000 $35,000
LendingPoint Flexible repayment options 585 9.99%–35.99% $2,000 $25,000
Upgrade Fast funding 620 7.99%–35.97% (with autopay) $1,000 $35,000
LendingClub Online experience 600 10.68%–35.89% $1,000 $40,000


Note: Sample rates have been extracted online, courtesy of BankRate.

The estimated APR according to FICO score range is as follows:

Excellent 800–850 21% 10.3%–12.5%
Very good 740–799 25% 10.3%–12.5%
Good 670–739 21% 13.5%–15.5%
Fair 580–669 17% 17.8%–19.9%
Very poor 300–579 16% 28.5%–32%



Mythbuster: No loan is absolutely guaranteed or available for ANY borrower. Even loans that guarantee loan approval no matter what, do have some sort of lending criteria, however, payday loans and other guaranteed loan types are specifically for people with bad credit.

Anyone can have a financial emergency, and with that, it is important that they aren’t rejected due to poor credit. Banks and credit unions do, so such people have the facility to opt for payday loans and other types of guaranteed approval loans. The interest rate is higher because people with low credit are more likely to default on the loan than people with a high credit score.

Shop around for the best loan option from the best lender who would not only accept your loan but will also give you a better rate for it.

Tony Bennett

Tony Bennett

Tony Benett makes his living in the insurance industry by teaching and consulting. He is also recognized by the legal profession as an expert on insurance coverages. His insurance experience includes having worked at the company level, owned an independent general agency and having worked for an insurance association. He has received various certificates over the past few years and helps his clients and readers by giving them a realistic outlook on what they can expect to achieve within their set targets. At Insurance Noon, he is known for his in-depth analysis and attention to details with accuracy. He has been published as one of the most referred agents by his peers in the insurance community. Tony loves the outdoors and most sport events. His passion other than providing excellent advice is playing golf.