Most lenders want to see a good credit score (at least FICO® 670) to approve a personal loan. But some tailor financing for applicants with fair/average credit (580 to 669).
Applying for a loan with a lower credit score means you're more likely to receive higher interest rates, so it's important to compare rates with multiple lenders to make sure you're comfortable with the terms.
CNBC Select rounded up the best lenders that approve personal loans for applicants with credit scores below 670, looking at interest rates, terms, fees and flexible repayment options for different credit scores. (You can read more about our methodology here.)
Personal loan lenders for below 670 credit score
| Lender | Loan amounts | Terms | Credit score needed |
|---|---|---|---|
| Upstart | $1,000 to $75,000 | 36 and 60 months | 300 (but may also accept applicants with no credit history) |
| Upgrade | $1,000 to $50,000 | 24 to 84 months | 600 |
| OneMain Financial | $1,500 to $20,000 | 24 to 60 Months | Poor/Fair |
| SoFi | $5,000 to $100,000 | 24 to 84 months | Good to Excellent (allows you to apply with a co-signer if you have bad credit) |
| Avant | $2,000 to $35,000 | 24 to 60 months | 600 |
Best for no credit history: Upstart
Who's this for? If you have a low (or no) score because of extremely limited credit activity, lending marketplace Upstart considers additional factors beyond credit scores when reviewing applications, including income and employment history, education, debt-to-income ratio, bank account activity and overall savings patterns.
Standout benefits: You can apply for loan amounts as low as $1,000 and as much as $75,000 and loan terms range from 36 to 60 months, which can be appealing to borrowers who need more time to repay.
We like that Upstart considers factors besides credit score, including education, income and employment history. However, co-signers aren't accepted.
- Accept applicants with bad or no credit
- Minimum APR is lower than many competitors'
- Approves personal loans up to $75,000
- Most loans are funded the next business day
- Origination fee of 0% to 10%
- Doesn't allow co-signers or co-borrowers
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
6.30% - 35.99%
$1,000 to $75,000
9.95% to 35.99%
$2,000 to $35,000
Best for smaller loan amounts: Upgrade
Who's this for? Many lenders approve loans starting at $3,000 to $5,000, but Upgrade will approve financing for as little as $1,000, so you're not paying interest on money you don't need.
Standout benefits: Upgrade typically approves borrowers with fair or good credit (FICO Scores of 580 to 739, VantageScore of 601 to 780). Eligible borrowers can receive a 0.50% discount on their APR for setting up autopay. Funds should arrive in your checking account within one business day of approval.
We like that Upgrade considers borrowers with fair credit and allows you to apply with a co-borrower, which can improve your odds of approval and receiving favorable rates. The maximum interest rate is on the high side, however.
- Accepts applicants with fair credit
- Approves loans of up to $75,000
- Discount for having creditors paid directly
- Funding in as little as one day
- Accepts co-borrowers
- High maximum interest rate
- Origination fee of up to 9.99%
- No physical branches
Why Upgrade is the best for financial literacy:
- Free credit score simulator to help you visualize how different scenarios and actions may impact your credit
- Charts that track your trends and credit health over time, helping you understand how certain financial choices affect your credit score
- Ability to sign up for free credit monitoring and weekly VantageScore updates
Best for flexible terms: OneMain Financial
Who's this for? OneMain Financial accepts applicants with poor credit, but you can also apply with a co-applicant. Plus, repayment terms range from 24 months to 60 months, a larger range than many lenders.
Standout benefits: OneMain approves secured loans that use an eligible vehicle as collateral, letting you potentially receive a lower interest rate. Borrowers can also choose the day of the month their payments are due.
We like that OneMain accepts borrowers with bad credit and offers secured loans and fast funding. However, its minimum APR is on the high side and the $30,000 financing maximum may be too low if you need a larger loan.
- Approves applicants with bad/fair credit
- Same-day funding available
- Can apply with collateral
- Co-applicants allowed
- High origination fee
- High minimum interest rate
- No autopay discount
- Co-signers not allowed
*You must complete a loan application and continue to meet any criteria used to select you for a loan offer. Not all applicants are approved. Loan approval and actual loan terms depend on applicant's state of residence and ability to meet OneMain Financial credit standards such as a responsible credit history, sufficient income after monthly expenses, and if applicable, availability of eligible collateral.
Not all approved applicants qualify for larger loan amounts, lower APRs, or the most favorable loan terms. For example, larger loan amounts typically require a first lien on a motor vehicle that is no more than ten years old, meets our value requirements, and is titled in applicant's name with valid insurance. APRs are generally higher on loans not secured by a vehicle.
Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.
OneMain charges origination fees allowed by law. Depending on the state where the loan is opened, the origination fee may be either a flat amount or a percentage of the loan amount. Flat fees vary by state, ranging from $25 to $500. Percentage-based fees vary by state, ranging from 1% to 10% of the loan amount subject to certain state limits on the fee amount.
For information about these fees and minimum and maximum loan sizes available in certain states, visit omf.com/loanfees.
Current OneMain Customers: Loan offers presented to a consumer assume the individual has no active loan with OneMain or one of its affiliates. If a customer applies for a new loan offer, a OneMain representative will discuss available options.
Active-duty military, their spouse or dependents covered by the Military Lending Act (MLA) may not pledge any vehicle as collateral. If you are covered by the MLA, you are not eligible for secured loans.Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB's Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.
Time to Fund Loans: Funding within one hour after loan closing through SpeedFunds® must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after closing.
Best if you need a co-applicant: SoFi
Who's this for? SoFi typically only considers applicants with good or excellent credit for personal loans. This lender is very open to borrowers with a co-applicant, however, so you may be able to be approved if you don't fit that criteria, especially with a co-applicant (co-borrower) with a higher credit score and income.
Standout benefits: SoFi has a 0.25% autopay discount on eligible personal loans and funding may be available as quickly as the same day you're approved. SoFi members also enjoy perks like one-on-one financial advising, access to deferment and forbearance in cases of financial hardship and rate reductions on other personal loans.
We like that SoFi has high loan caps and doesn't charge any origination fee, so borrowers get the full amount funded. The credit requirements can be stringent, however, and interest rates for weaker applicants are on the higher side.
- Loans approved for up to $100,000
- No origination fee or late fee
- Next-day funding available
- Accepts co-borrowers
- Minimum loan amount is $5,000
- High APR for fair/low credit
Fixed rates from 8.74% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or, Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 02/23/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors.
Best for quick funding: Avant
Who's this for? Avant will consider applicants with fair or bad credit scores (starting around 580), and can provide funding as soon as the next business day after you're approved.
Standout benefits: This lender approves loans for as little as $2,000 and as much as $35,000. Income requirements are low, typically around $1,200 per month.
This online lender approves borrowers with lower credit and income requirements than many competitors. We also like its speedy approval process and next-day funding, although it won't pay your creditors directly if you have a debt consolidation loan. The APR and origination fee for applicants with weak credit can be high, but the tradeoff may be worth it if you've been unable to get approved elsewhere.
- Lends to applicants with poor credit
- Funding often available next day
- Late-payment grace period of 10 days
- Origination fee of up 9.99%
- No autopay discount
- Doesn't offer direct payment to creditors for debt consolidation loans
- No co-signers or collateral
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
7.99%–35.99%
Up to $50,000
9.95% to 35.99%
$2,000 to $35,000
What is a personal loan and how does it work?
A personal loan is a type of installment loan that is paid back in equal, fixed monthly amounts over a specified term with interest. When you're approved for a personal loan, the money is disbursed to you as a lump sum.
Aside from paying interest each month, you may also be on the hook for any application fees and origination fees. You may also pay late fees if you miss your payment deadline.
Personal loans are considered highly flexible forms of funding because the money can be used for just about any purpose, from funding a vacation to paying a medical bill (although you should read the lender's terms and conditions to make sure you're not using the loan for a prohibited use).
Common personal loan definitions you should know
Here are some common personal loan terms you need to know before applying for one:
- Co-applicants or joint applications: A co-applicant is a broad term for another person who helps you qualify by attaching their name (and financial details) to your application. A co-applicant can be a co-signer or a co-borrower. Having a co-applicant can be helpful when you have a poor or fair credit score. If your co-applicant has a good credit score, you might be offered better terms, including qualifying for a lower APR and/or a bigger loan. However, both applicants' credit scores will be affected if you don't pay back your loan, so be sure that your co-applicant is someone you feel comfortable sharing financial responsibility with.
- Co-signers: A co-signer agrees to help you qualify for the loan, but they are only responsible for making payments if you are unable to. The co-signer does not receive the loan, nor do they necessarily make decisions about how it is used. However, the co-signer's credit will be negatively affected if the main borrower misses payments or defaults.
- Co-borrower: Unlike a co-signer, a co-borrower is responsible for paying back the loan and deciding how it is used. Co-borrowers are usually involved in decisions about how the loan is used. Some lenders will only consider two co-borrowers who share a home or business address, as this is a firm indicator that they are sharing the responsibility of money in mutually beneficial ways. Both co-borrowers' credit scores are on the hook if either one stops making payments or defaults.
- Direct payments: Some lenders offer direct payments when you select debt consolidation as the reason for taking out a personal loan. With direct payments, the lender pays your creditors directly, and then deposits any leftover funds into your checking or savings account. Until you see your account balance is fully paid off, it's best to keep making payments so that you don't get hit with additional late fees and interest charges.
- Early payoff penalty: Before you accept a loan, look to see if the lender charges an early payoff or prepayment penalty. Because lenders expect to get paid interest for the full term of your loan, they could charge you a fee if you make extra payments to pay your debt down quicker. The fees could equal either the remaining interest you would have owed, a percentage of your payoff balance or a flat rate.
- Origination fee: An origination fee is a one-time upfront charge assessed by some lenders to pay for processing the loan. It's usually between 1% and 5%, but sometimes it is charged as a flat-rate fee. For example, if you took out a $20,000 loan with a 5% origination fee, you would only receive $19,000 when you got your funds.
- Unsecured versus secured loans: Most personal loans are unsecured, meaning they are not tied to collateral. However, if your credit score isn't strong, you may be able to use a car, house or other assets to act as collateral in case you default on your payments. When you put an asset up as collateral, you are giving your lender permission to repossess it if you don't pay back your debts on time and in full.
What credit score do you need for a personal loan?
Many personal loan lenders look for borrowers with good (670 to 739), very good (740 to 799) or even excellent (800 to 850) credit scores. However, some lenders, like the ones on this list, consider applicants with fair/average or even poor credit.
Borrowers with better credit tend to get offered lower interest rates and are less likely to need a co-signer or co-applicant.
How to boost your credit score
If your credit score isn't where you want it to be, there are a few things you can do to improve your credit score.
First off, continue making on-time debt payments. Payment history accounts for 35% of your credit score, so missing even one payment may cause it to take a significant hit. Staying consistent with payments can help your score gradually increase over time.
Your credit utilization rate (how much credit you use) is another important factor, and, the lower your utilization, the better your credit score. The credit utilization rate tells you how much credit you've already used compared to the total amount of credit available to you. Experts generally recommend that you keep your credit utilization below 30%, but the lower, the better.
Additionally, check your credit report every once in a while to make sure it doesn't have any inaccurate information that may be bringing your score down (like missed payments or new credit applications you didn't actually open). Inaccuracies can happen due to errors or fraud, so make sure you aren't the one paying those consequences. Reporting inaccuracies can help them get removed from your credit report and bring your score back up.
How to apply for a personal loan
Applying for a personal loan is generally a straightforward process. Many lenders let you see if you prequalify for a loan and check your rate online before actually submitting an application. This doesn't hurt your credit score and it's actually a good way to shop around to see which lender offers you the best interest rate.
When you've decided which lender you'd like to go with, you submit an official application along with information on your income, debt-to-income ratio and the loan purpose. Submitting an application can impact your credit score because the lender needs to do a hard inquiry to make sure you're creditworthy. But your credit score will rebound over time when you make your payments on time and in full.
Once you receive an approval decision, you accept the loan and the funds will be directly deposited into your bank account.
FAQs
What's the easiest personal loan to get with low credit?
The easiest personal loan to get with low credit is a payday loan, however, these loans often charge very high interest rates and have low borrowing limits since they're geared toward the riskiest borrowers. It's generally recommended to only consider payday loans if you've exhausted all other options and can't qualify for other loans with better terms.
How do you get a loan when everyone denies you?
It can sometimes be difficult to qualify for a loan, but the first thing to do is to understand why you were denied. This lets you pinpoint exactly what you need to fix. If you were denied because of poor credit, take steps to improve your credit score before you apply for your next loan. This can include making on-time debt payments in full each month and avoiding opening too many new lines of credit at once.
How can I increase my chances of getting a loan?
Improving your credit score is the best way to improve your chances of getting a loan since your credit score is used to determine how risky of a borrower you are, what interest rate you can get approved for and, in some cases, how much of a loan you can borrow. It also helps to apply with a co-signer who has healthier credit.
What is a fair credit score?
A "fair" credit score (sometimes called an average credit score) is a FICO score of 580–669. Anything below a 580 is considered a "poor" credit score.
Can you get a loan with a poor credit score?
It's possible to get a loan with a poor credit score (considered anything below a 580), but you will be subject to higher interest rates, which makes the loan more expensive.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every personal loan list is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Our methodology
To determine which lenders are the best for borrowers with credit scores below 670, CNBC Select analyzed dozens of U.S. personal loans offered by banks, credit unions and online institutions.
We narrowed our search by focusing on the following features:
- Fixed-rate APR: Variable rates fluctuate over the lifetime of your loan. With a fixed-rate APR, you lock in an interest rate for the duration, making it easier to budget. We limited our list to lenders with fixed-rate personal loans.
- Loan amounts: We gave more weight to lenders with broad ranges of loan amounts and repayment terms
- No early payoff penalties: None of the lenders on our list charge borrowers for paying off loans early.
- Application process: We considered whether lenders offered same-day approval decisions and a fast online application process.
- Customer support: Every loan on our list provides customer service available via telephone, email or secure online messaging. We also opted for lenders with an online resource hub or advice center to help you educate yourself about the personal loan process and your finances.
- Funding speed: Lenders who fund loans the same day or within one business day were given more weight.
- Discounts: We noted the lenders that reward you for enrolling in autopay by lowering your APR by 0.25% to 0.5%.
- Customer support: We considered whether lenders had robust customer service hours, an easy-to-navigate website and mobile app and online chat.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
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