Warning: Late repayment can cause you serious money problems. For help, go to MoneyAdviceService.org.uk
Apply to Borrow from
$100 to $25,000*

Representative Example: $500 borrowed for 5 months

Apply For $50 - $1,000

Fast Payout

No Fees

Available 24/7

Secure Application

Bad Credit

Getting credit is always tough when you no credit. It is not impossible though. Depending on how much you’re borrowing, for how long, and whether you have collateral or not. You’ll find that there are specialist lenders out there who may be willing to extend some financial help to you despite your non-existent credit history.

Why Credit Scores are Important

A credit score is a combination of a number of things. It includes the debts you’ve taken in the past, your payment history, how many loans you’ve applied for, and if you’ve ever had late or missed payments or defaults. This is important for lenders because it allows them to get an idea of your behaviour as a borrower. 

When you do not have a credit score, you do not have a credit history to show. This makes it harder for lenders to assess how trustworthy or creditworthy you are. This is also the reason why they will be reluctant to lend you money. 

Qualifying for a Loan

With a rather limited option available, it may take time for you to find a lender who is willing enough to extend to you the amount you need. You do have to temper your expectations too. As a first-time borrower, most lenders would have to limit what they will be willing to lend to you. 

It would be better to start small and use the opportunity to make timely payments to build a credit history. Expect that the interest rates are going to be quite high too. With no credit history to base off on, lenders will consider you a huge risk. 

You may also choose to present a guarantor for the loan. Lenders will be more willing to assist you in situations like that. At the same time, collateral can help too. Valuable assets can be used to secure a loan so lenders will approve your application despite having no credit. If you have a vehicle, a property, or even jewellery pieces, they may be used to secure a loan.

Credit scores have always been one of the main deciding factors of financial institutions such as banks to determine your creditworthiness and for them to assess your risk. Unfortunately, some borrowers have little to no credit at all. This can hamper one’s chances of borrowing it’s totally not impossible. If you’re caught in a dilemma like this, read on.

Check Your Credit Unions

Credit unions, more so those that are community-based, are more inclined to give your loan application a second thought. If it is rooted in a community, then the credit union would look to other factors to determine their decision. In addition, credit unions usually have a ceiling when it comes to interest rates that are not as high as banks, especially if you have no or bad credit

Get a Co-Signer

If the former does not work, then I highly suggest you to get a co-signer. You co-signer would agree to pay for the loan in the event that you default on the loan or that you cannot make the necessary payments. Usually, you’re not allowed to get your spouse as a cosigner unless you’re applying for a joint loan. If you are getting your husband or wife as a cosigner, then I suggest you apply for the loan together.

Try P2P or Peer to Peer ending

This one of the top platforms that I would suggest for those with no or bad credit. Platforms like peer to peer lending have less stricter terms and conditions. Instead of the usual financial institutions and lenders like banks, p2p platforms are more inclined to let you borrow money. They help the lender assess your risk using information that’s not limited to just your credit score. In turn, they help borrowers determine the lender’s credibility. What happens is borrowers post listings regarding the amount they need and what for. Investors or lenders then assess them individually.

Loancaptive’s FAQ’ S

Here are some of the frequently asked questions of our valued customers.

Q: How much money can I borrow?
The cash amount that you can borrow depends on the loan type that you have. When you have a short-term loan, the maximum amount to borrow is $995 while personal loans range to $1,000 to $25,000.


Q: Do you have personal loans for bad credit?
Yes, our loan types are suitable for everyone. Even if you have a history of bad credit, we will help you find a lender and loan that based on your purpose.


Q: What are your unsecured loans?
Our unsecured loans consist of credit cards, personal, and term loans. We suggest to fill out our application form to provide you the best-unsecured loan.


Q: How many months is your repayment period?
Our repayment period is from 3-18 months. You can choose your repayment method upon your application.

What Are Unsecured Loans?

There are different types of unsecured loans. The common unsecured loan is a credit card where borrowers can use their credit limit again once repaid. Another type is a payday loan which is applicable to employees or anyone who have a proof source of income. A payday loan is a short-term loan that takes 15-30 days only. There are also signature loans, term loans, and students loans that are categorized as unsecured loans.

Unsecured Loans Guide

We provide you the unsecured loan you need. In order to get the money you want, you must fill in the details needed in our application form. Then, we will evaluate and give you a direct lender for your purpose.

Unsecured Loans Guide

Unsecured Loans Guide

Unsecured Loans Guide