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Best Hardship Loans In 2022 | Top Personal Loans to Borrow Money with Bad Credit

When you need cash for an emergency, hardship loans can come in handy. These loans can help you pay for a car repair, a medical bill, rent, or anything else.
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When you need cash for an emergency, hardship loans can come in handy. Fortunately, there are several bad credit hardship loans available to you. It’s a good idea to do your homework and think about all of your options. Once you’ve done so, you’ll be able to make an informed decision and obtain the financial assistance you require.

Personal hardship loans can be a lifeline, especially if you have lost your job or drained your emergency savings due to the coronavirus pandemic or another unforeseen expense.

Most bad credit personal loans have a quick application and approval process. Typically, you can obtain the funds you require in 24 hours or less.

Top 4 Hardship Loans for Bad Credit 2022

  1. MoneyMutual – Overall best hardship loans on the market, editor’s pick

  2. Bad Credit Loans – Direct lender offering hardship loans for bad credit

  3. CashUSA – Top payday alternative loans with speedy cash

  4. Personal Loans – Recommended online lenders for personal lines of credit

#1. MoneyMutual – Overall best hardship loans on the market, editor’s pick 

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MoneyMutual connects borrowers and lenders even if you have poor credit, and you can use it to apply for hardship loans such as installment loans and personal loans. However, use it with caution because there are warnings that costs and interest rates could be extremely high. Furthermore, there is no impact on your credit score from a hardship loan.

After you submit your online registration, financial institutions will review it and decide whether to make you a lending offer within minutes. Personal loans range in size from $200 to $5,000. Analyze the interest rate and other terms of the personal loan offer. If you accept it, the online lender will handle the rest of the application, clearance, payment, and repayment processes.

Personal loans and other high-cost should be used only as a last resort due to their stringent repayment requirements, which can trap debtors in a never-ending cycle of debt.


MoneyMutual may be one option for reviewing lenders and loan offers because it is free to use and does not require you to accept any financing options. This is especially true if your credit is poor and you don’t have many options.

But even before you sign any financial contracts, be careful. Pay close attention to the rate of interest, conditions, and costs to fully understand what you are getting into and the associated charges.

Funds receiving fast

After accepting a loan, you may be able to receive your funds via direct payment in as little as 24 hours. This is a significant advantage if you need to pay for an emergency, such as a car repair or hospital bill.

A reliable source for bad creditors

Even if you have a low credit score and every other lender has turned you down, MoneyMutual will find a lender for you. Remember that MoneyMutual is a platform that connects borrowers and lenders, not a lending platform.

As a result, you can find a lender regardless of your credit score. However, if you have bad credit, you should expect to pay high-interest rates because lenders don’t trust people with bad credit.

Application procedure

Applying for financial hardship loans at MoneyMutual is a piece of cake. This platform understands that people in need of financial hardship loans are in a hurry and don’t have time to scroll through a dozen pages.

MoneyMutual’s application procedure, on the other hand, is relatively simple and quick. You can apply for a loan and have the funds deposited into your account the same day. However, because of the verification process, the application approval process for people with bad credit may take a little longer.

No fees

The MoneyMutual platform will connect you with lenders for free, so you will not have to pay anything to use it. Just bear in mind that any lenders you contact may charge fees for the loans they provide. There are no hidden fees, and all terms, costs, and taxes are clearly stated.


  • Every credit score has a lender

  • Easy application procedure

  • Rapid money transfer

  • No hidden fees or platform fees

  • You can use it for numerous purposes


  • There are no specifics about interest rates

⇒ Visit the Official Website of MoneyMutual

#2. Bad Credit Loans – Direct lender offering hardship loans for bad credit

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Bad Credit Loans was established in 1998, merged lending institutions, peer-to-peer lending platforms, and native loans. They currently provide hardship loans to Americans with low credit. They are not financiers; rather, they provide a platform for customers with good or poor credit. You can look around for the best deals by obtaining multiple quotes from various lenders.

Bad Credit loans is well-known for being the best company to work with for a financial hardship loan for borrowers with poor credit because it provides a wide range of financial services. Perhaps you need a loan to cover the cost of health care, debt consolidation, or car maintenance. However, Bad Credit Loans may be advantageous.

Reviews of Bad Credit Loans show that they are of the few places where you can be approved for a loan and have it deposited into your account quickly.


Bad Credit Loans are not your typical lender-finding service. Self-employed individuals and those with a dynamic credit history can qualify for financial hardship loans through hardship lending.

Because of their connections with different banks and online lenders, they may be able to provide hardship loans to those with low, no, or limited credit. According to Bad Credit Loans, a lender may be willing to lend to you even if you have failures, consumer debt, or judgments on your credit history.


A robust smartphone app is advantageous for customers. Many people nowadays apply for loans online using their smartphones. The company provides access to its services on all platforms and devices. Bad Credit Loans has developed a mobile application for tablets, smartphones, and other portable devices.

It is completely perfect, has an incredibly expertly crafted and captivating design that does not require surfing, and displays the content correctly. The mobile app is preferred by users over the website. In addition, the site passed the google test.

Customer experience

There are numerous positive and encouraging customer reviews about Bad Credit Loans available online. Furthermore, satisfied customers praise the company for its quick funding, speediness, and acceptance, even with bad credit.

We couldn’t find any negative feedback about the company. The only negative comments came from people whose loan applications were turned down by the company.


There are no payback requirements for Bad Credit Loans because the platform is a connecting system rather than a provider. The website works with a network of online lenders, and the terms of your payments are determined by the lender you choose. Loan providers for bad credit frequently assume that loans will be repaid within the specified time frame.

Most lenders also charge additional closing costs and an entrance fee of 1% or more. Only approve a loan agreement after carefully reading it and ensuring that you fully understand the additional fees.

Privacy and safety

Bad Credit Loans employs cutting-edge encryption software. You can put your trust in the platform to keep your personal and sensitive information safe. Furthermore, Bad Credit Loans uses legal security protocols to prevent unauthorized access to or use of the borrowers’ private information, such as computer controls, secured files, and secured buildings.


  • APRs are lower than other platforms

  • Application is free of charge

  • All of your payments and personal information are safe

  • Funds are transferred quickly


  • There are no direct lenders available

⇒ Visit the Official Website of BadCreditLoans

#3. CashUSA – Top payday alternative loans with speedy cash

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CashUSA is an online lending marketplace that connects borrowers with a network of lenders in the United States, CashUSA, one of the most reliable providers of secured hardship loans, collaborates with reputable partner lenders to provide customers with the best hardship loans available.

CashUSA’s vast network of creditors, which includes State and Tribal lenders, enables them to provide people with secure hardship loan services as well as quick and simple loan requests.

The minimum loan amount available to applicants is $500, with a maximum loan amount of $10,000. Because of the quick and simple procedure, secured loans can be deposited into your bank account as soon as the next business day.

In general, CashUSA strives to match customers with major, approved lenders as quickly and efficiently as possible. To avoid having this happen to you, you must provide accurate information.

CashUSA’s online loan application process is quick, simple, and secure, and there are no application fees. Customer service is another essential aspect of CashUSA that distinguishes it from the competition. They will respond to your minor inquiries in seconds.


Rates and fees

Because CashUSA does not act as a direct lender and does not charge fees for its services, the economic effects of the loan cannot be specified. Instead, they connect clients with lenders who specialize in bad credit hardship loans.

The fee may differ depending on the information you provide and the documentation provided by the lender. Your loan term may also be heavily influenced by your eligibility.

Privacy and safety

CashUSA uses software security measures, lock-down procedures, and secure facilities to protect your private data from unauthorized access and use. They are committed to maintaining a high level of security and confidentiality in the collection and use of personal information from their clients as well as any user who approaches their website to obtain hardship loans.

They have a privacy statement on their website that describes how and why they collect user information, who they discuss with, and what they use it for.

Customer service

CashUSA has support staff available during business hours and is always eager to answer client questions and resolve issues. If users have any questions, they can contact CashUSA directly by phone, email, or through a form on the CashUSA website.

They are also welcome to write to them at their postal address. CashUSA also has accounts on Facebook and Twitter, where users can connect with them.

Quick funds transfer

CashUSA’s hardship loans are transferred to your account as soon as they are approved. CashUSA is always among the fastest lending platforms, whether there is a medical emergency or other urgent expenses.


  • Loans for people with all credit ratings

  • Simple application procedure

  • Quick and simple money transfer


  • Hardship loans approval may take longer

⇒ Visit the Official Website of CashUSA

#4. Personal Loans – Recommended online lenders for personal lines of credit

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Personal Loans is a specific online platform that connects borrowers with various lenders. The loan amount, terms, and fees are typical and vary between lenders. There are different loan types available, such as bank loans, peer-to-peer loans, and installment loans.

You can use these loans to pay for anything from rent and taxes to travel, vacations, medical procedures, and home improvements.

Personal Loans is a lending service that offers some of the most flexible terms, with APRs starting at 5.99% and a payback period ranging from 90 days to 72 months. With this company, you can borrow as little as $500 and as much as $35,000 in total,

However, you must have a monthly income of at least $3,000 for bank loans and $2,000 for peer-to-peer loans and personal installment loans. Personal Loans has been bringing borrowers and lenders together for more than 20 years.

It’s a dependable platform with reputable loan partners that provides loans via efficient and secure transactions. Furthermore, it is an OLA (online lender’s alliance) member, which ensures ethical and just business operations online.


Security and safety

Personal Loans secures any information provided on the site by using cutting-edge data encryption software. This ensures that no third party will have access to the users’ private information. It also gives customers confidence and allows them to use the site from the comfort of their homes. The company assures customers about security concerns on its website.

Flexible financing options

Personal Loans offers flexible financing options in terms of both money and length. Borrowers can take out hardship loans starting at $1,000 and up to $35,000 in total. They may be able to return the loan amount as soon as 90 days after taking it, depending on the amount of the loan and the credit received. This report is available from the start on their rates website.

Borrowers have a variety of options to choose from based on the loan requirements. This includes peer-to-peer loans, installment loans, and hardship loans. Each of these loans has its own set of lending terms and credit score requirements. As a result, borrowers can choose the type of loan based on their credit criteria.

Easy application

Personal Loans’ online loan application process is quick, simple, and transparent. By completing a few simple steps, your data will be made available to a vast network of financiers and third-party sites which they are affiliated with.

If your loan application is approved, the money could be in your account as soon as the next business day. The loan application process is explained in simple terms on their website.


  • OLA associate

  • Simple application procedure

  • Adaptable financing

  • Higher hardship loans for people with bad credit

  • Transactions that are safe and secure


  • It may affect your credit

⇒ Visit the Official Website of Personal Loans

How Did We Create Our List For Best Hardship Loans for Bad Credit?

We understand how difficult it can be to find reputable hardship loans for people with bad credit. As a result, we compiled a list of platforms whose eligibility criteria best meet your requirements.

We carefully analyzed dozens of financing options to determine their dependability and lending conditions when compiling this list of the best hardship loans for people with bad credit. We specifically considered the following factors when deciding whether to include a lender for people with bad credit on our list.

Loan amounts

If you have poor credit and are approved for a hardship loan through a credit union or another financial institution, your lenders will generally not give you a large loan. We looked for lenders and personal loan platforms that lend at least $1,000 in order to provide you with access to larger credit amounts. Because of the higher maximum loan amounts, you may be able to obtain the loan funds you require.

Requirements for eligibility

Your credit score is one of the most important green or red flags of your financial stability. Bankers frequently believe that if you have a low credit score, you will not properly manage their loan funds.

While looking for the best hardship loans for people with low credit, we reviewed each lender’s eligibility criteria to ensure that borrowers with bad credit would be eligible for these personal loans. The terms of the loans on our list are favorable, and some do not even require a minimum credit score. You must be 18 years old or older, a US citizen, have a bank account, and provide contact information for many services.

Application procedure

A lengthy application process for hardship loans is frequently required. Lenders may ask you to fill out multiple pages with information about your job, standard income, payment history, existing outstanding debts, and credit card bills as part of the registration process.

Nonetheless, we sought out hardship loan providers with quick, easy-to-use forms so that you could save time when applying for a personal loan. Every lender on our list has an application that only takes a few minutes to complete and only requires a few of your details.

Return term

Banks typically extend personal loan terms for borrowers with good credit because they believe they will be able to repay the personal loans in full at the end of the time. With enough time to repay, the platforms and lenders on our list may offer you a personal loan for up to seven years.

Some of the creditors, on the other hand, only require a fixed payback term of 90 days. As a result, if you can repay your personal loans, payday loans, and mortgage loans to your payday lenders on time, you may be able to reduce your interest.


Personal loans generate revenue through a few fees that the lender adds to the amount borrowed. Some of these fees are interest charges, which must be paid in addition to your monthly premium and are calculated as a percentage of the amount taken.

An annual percentage rate, or APR, is a common way to calculate interest on personal and hardship loans. The APR is the amount you must repay over a year. The hardship loans on our list have lower interest rates, ranging from 5% to 35%.


After applying for a hardship loan, you usually want your money as soon as possible. The wait time for typical hardship loans from banks or other financial institutions can sometimes be several weeks. While compiling our list of the best hardship loan providers for people with bad credit, we looked for organizations with quick turnaround times.

Each lender on our list can provide you with the requested personal loan amounts within a few days of receiving your initial request. These lenders can also deposit funds directly to your bank account, which speeds up the process even more.

Buying Guide: How to Apply for a Loan When You Have a Poor Credit Score?

The application process for a hardship loan, which can be used to cover unexpected costs, is not overly complicated. However, the financial institution to which you apply for a loan can make all the difference in the world. This is especially true if you have a low credit score and are looking for a hardship loan. To apply for a loan to assist with financial difficulties, follow these steps:

Make sure you check your credit score

The first thing you need to do before applying for a loan is to find out your credit score and determine whether or not it is poor. If you check your credit report first, you will be able to determine what factors may be damaging your credit score and whether or not any potential inaccuracies may be lowering your score even further.

If you discover an inaccuracy on your credit report, you have the right to dispute it with the credit platform as well as the lender who reported it.

Pre-qualifications with different lenders

Before submitting your complete loan application, some lenders will let you prequalify for the loan options they offer. To assess whether or not you are qualified for a loan with a lender, this method performs what is known as a “soft credit pull”, which does not have an impact on your credit score.

You can save yourself some unnecessary hard credit inquiries by getting prequalified with multiple lenders. This will allow you to discover who is most likely to approve you for a loan and what sort of interest rate you might be offered, and will also save your time, as said.

Compare the various lending options

It is time to do some comparison now that you are looking over the different pre-qualifications offered for loans. Check to see which loan best satisfies your requirements, including the amount of money you need, how quickly you need it, and how long you have to pay it back.

The next step is to calculate how much money you will need to pay back the loan, interest, and any other costs that may apply.

Get in touch with the lender of your choice

After you have selected the most suitable lending partner, you are free to move through with the actual application. This typically involves providing certain documents (such as pay stubs, proof of employment, and proof of identity) and frequently includes a hard credit pull, which can temporarily lower your scores by a few points. Providing certain documents is often required in order to proceed.

You may be required to have a cosigner for the loan, depending on the state of your credit and the amount that you wish to borrow. Your chances of being approved will improve if you have a cosigner who has strong or great credit, and you may even be able to ask for a reduced interest rate for the loan.

Signing your loan documents and receiving your money

In the circumstance that your application is accepted, you will be required to sign the final loan documents. By doing so, you will be committing to repay the loan by the terms of the agreement. The loan will then be funded by your lender. However, depending on the lender you choose, this process could take a few business days to finish.

Common Loan Scams

Most loan scams try to get the money upfront or make the terms of the loan so strict that the borrower has to pay late fees or other fees. Some well-known ones are:

Scammers may try to get you to pay hundreds or thousands of dollars in fees upfront for a low-cost loan. After getting these fees, they will stop talking and won’t send any money.

No-credit-check scam

Some legitimate personal loan lenders look at more than your credit score when deciding whether or not to give you a loan. However, some scammers promise money without checking your credit. This is a red flag because your credit history is a big part of figuring out how risky you are as a borrower.

Scams about private student loan forgiveness

The government has programs to forgive federal student loans. If a company comes to you and says it will pay off your private student loans, it’s probably a scam.

Scams about debt consolidation 

Debt consolidation can make paying off your debts easier and save you money in the long run. If a company trying to help you get out of debt is pushy or tells you to stop talking to your creditors, it’s probably trying to scam you.

Who is most likely a victim of a loan scam?

Scammers usually go after people who don’t know what’s going on or who may have trouble getting a loan the normal way. People who have a lot of debt, are old, or have bad credit are most likely to fall for these kinds of scams.

People with bad credit may be interested in no-credit-check loans and payday loans because loans for bad credit from reputable lenders may have high-interest rates. Unfortunately, some scammers buy lists of people who have looked for or applied for these kinds of loans online because they are easy to take advantage of.

If you are in a high-risk group, watch out for companies that offer loans that seem too good to be true for your situation. If you’re not sure, check to see if the company has a license in your state or call the attorney general in your state.

Hardship Loans FAQs

What is a hardship loan?

A hardship loan is a kind of installment loan made for people who need money to get through a tough financial time, like losing their job. Because of the coronavirus, more people are taking out hardship loans. Short-term loans are offered by many banks, credit unions, and online lenders to help people from all walks of life get out of hard financial times.

A hardship loan is not like a credit card, which is a revolving line of credit. Instead, it gives you a pile of cash all at once. It usually has features that make it stand out, like low-interest rates and the ability to put off payments. If you get a hardship loan, you will have to pay it back as agreed.

If your financial problems keep getting worse, and you can’t pay back a hardship loan, it’s your job to talk to the provider about possible ways to change your loan.

How to get a hardship loan?

Hardship loans are given by different lenders in different ways. Most of the time, though, the process is quick and easy.

You will probably be able to apply online wherever you are if you have access to a device.

The lender may ask for information about you, such as your name, address, and the amount you pay each month for rent or mortgage.

You may also be required to explain your financial situation and how you intend to use the funds. Because lenders understand that borrowers ask for funds as soon as possible, there’s a good chance you will be approved the same day you apply, if not within 24 hours.

How much money can I borrow?

Hardships loans are not intended for long-term use and usually range in loan amount from $1,000 to $5,000. As a result, you can’t rely on one to cover a large expense like a home improvement project or college tuition.

Consider this way of financing only if you are experiencing a temporary financial setback and are confident in your ability to repay it. A traditional personal loan may be a better choice if you need to borrow a bigger amount.

Many lenders provide personal loans of $10,000 or more. If you’re constantly in need of money, you may have an income or spending problem that needs to be addressed. Taking out loans, especially ones you can’t afford to repay, can put you in a debt cycle or increase your existing debt.

If the debt is your primary concern, credit counseling, debt settlement, debt consolidation, or DIY debt relief options such as debt snowball and debt avalanche may be a better option.

What if I’m not eligible for a hardship loan?

If you are not allowed for a hardship loan due to a low credit score or another reason, don’t worry, there are other options available to you. You could ask your friend or family for financial assistance. If you go this route, make sure you can repay them, or your relationship may suffer.

A side task or part-time job is another option. Even if you have lost your full-time job, you can still be creative and earn money. You can deliver food or packages, provide freelance creative services, or work from home for a call center or another similar organization.

If you own a place where you live and don’t mind taking out a secured loan, a home equity loan, in which you receive a sum of cash based on the available equity in your home, can be beneficial. A type of unsecured loan, like a signature loan, could also be a good idea.

Other options include a secured personal loan, such as a title loan that involves an asset such as a car title and a paycheck advance. You should think about arranging a balance transfer, which is when you transfer high-interest rate debt from one credit card to another with a lower interest rate.

Is it true that all hardship loans are safe?

Many hardship loans are scams. Even if a financial crisis forces you to take the first loan you come across, doing so is risky. You could end up with a hardship loan with enormous APRs and fees. Many payday lenders are noted for providing shady hardship loans, which you should avoid at all costs.

If you are looking for a hardship loan, avoid those with high-interest rates, upfront fees, and pressure to sign. Our article is here to help you determine the legitimacy of the lender. Also, if you can’t find a physical address or there are spelling and grammar errors on their website, look elsewhere.

Will a hardship loan have an impact on your credit history?

The type of hardship loan you obtain and whether it appears on your credit report determines whether it has an impact on your credit. The loan will affect your credit if a lender performs a credit check and reports to the three major credit bureaus. It will be your responsibility to pay your monthly bill on time every month.

Your credit score may suffer every time you miss a payment. An essential factor used to calculate your credit score is your payment history.

On the contrary, your credit will improve if you consistently make your loan payments on time. As long as you are a responsible borrower, a hardship loan can improve your credit rating with each credit bureau.

Avoid taking a loan if you believe you will have difficulty repaying it. Missing payments or failing to repay a loan can harm your credit and disqualify you from future low annual percentage rates and favorable loan terms.

Can a hardship loan be used to cover business expenses?

A hardship loan can be used to help you cover business expenses if you are an entrepreneur, freelancer, or own a business. A small business loan may offer benefits and flexibility that a traditional hardship loan does not.

Many agencies want to see small businesses succeed and offer a variety of small business loan options to help them do so. Because they aren’t always advertised, it’s critical to do your research.

Conclusion: Top personal loan lenders for hardship loans

Now we’ve come full circle to the end of this piece. Getting a hardship loan online is possible if you know how. Even those who have never obtained financing from these types of sources before can easily learn how to apply for a hardship loan.

Lenders can be contacted directly through the websites we mentioned above, and you can request the funds you need. Those services have great customer service and support, so we recommend them. Furthermore, these sites allow you to compare interest rates from a variety of lenders so that you can make an informed decision.

Additionally, you will learn about the terms and conditions of the loan you are interested in receiving. These platforms will protect your personal information and keep it private. As a result, choosing a lender and borrowing the amount you need are the only steps you need to take right now, even if you have low credit.

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