$1000 Loan with Bad Credit
Get a $1000 loan even with poor credit sent direct deposit to your bank account. Get an installment loan offer from one of our direct lenders in just seconds. The application only takes a few minutes and you could be approved for 1000 dollars.
How a $1000 Installment Loan Works
A $1000 loan is one of the better options for borrowing money if you have bad credit. Your payments are setup on a monthly basis. Each payment will pay down the principal owed.
There is also interest applied to each payment. You have a set number of payments. Once you complete the payments, your personal loan is paid off.
Is a Poor Credit Loan for 1000 Dollars Right for Me?
Once you have all the information in front of you, then you can analyze everything and make an educated decision as to whether or not this type of short term financing is right for you.
If we are able to match you with one of our trusted lenders, then you will receive a loan offer that you can analyze and see all the numbers from the amount of the payments to the interest rate. Take everything into consideration and decide if you want to accept the offer.
Reasons People Use a Poor Credit Loan
- Auto Emergencies
- Avoid Banking Fees
- Medical Expenses
- Unforeseen Bills
- Cover Rent
- Vehicle Insurance
- Holiday Travel
There are endless reasons people need to borrow money on a short term basis. Maybe it's the holiday season and you have to travel across the country or maybe you forgot somebody's birthday and need to get a gift ASAP. Whatever your reason, we may be able to help you get approved for a loan even if you have a bad credit score.
Direct Deposit $1000 Loan
If you agree to a $1000 loan with one of our lenders, they will send the funds direct deposit to your bank account. Money is usually available by the next business day.
You will need to know your banking information, including account number and routing number. Both can be found on one of your personal checks. Have this available when you complete the application.
What About My Bad Credit Score?
A bad credit score is usually a score under 620. These scores and a snap shot of your financial history that is kept by the 3 big credit bureaus. You can still get a $1000 personal loan with bad credit.
Our lenders do not look at your credit history with the 3 main credit reporting companies. So your FICO credit score is not even considered in the loan process. Our lenders are more concerned with your ability to repay the funds and not your past financial troubles.
Requirements for a $1000 Loan
There are a few requirements that must be met before you are considered eligible for a 1000 dollar loan.
- Steady source of income.
- Must be 18 years old.
- Have an active checking account.
- Be a citizen of the United States.
- Have a physical residential address.
We only succeed if we are able to get you a loan offer. You could qualify for a smaller loan or even more than $1000.
How to Use 1000 Dollar Loans Wisely
Some people hate short-term loans, but these loans are extremely helpful for many others. A 1000 dollar loan for people with poor credit can become beneficial if used properly. Considering the current economic conditions, many families in the U.S live paycheck to paycheck, and any emerging troubling situation can devastate the checking account.
You can find short-term loan lenders to help fill the gap and ensure get what you need in an emergency. You can easily obtain a $1000 loan as you simply need to provide proof of identity, evidence of regular income, and bank account information. Some lending companies can pay you a 1000 dollar loan within a few hours because they operate online and transfer the money to your bank account via direct deposit.
It means you can get cash without leaving your home. Although it is easy to get the loan, the problem is all about spending it wisely. It is because you are already facing an emergency and if you don’t act wisely, your situation will get worse. That’s why in today’s article, we will give a few tips to spend your 1000 dollar loan wisely. Read on!
Emergency Use Only
You should use a $1000 loan in an actual emergency, such as a car accident, a hospital stay, or breakdown. The reason is that the lender may charge you 30 dollars per 100 dollars, which means the total amount you will repay is 1300 dollars.
So, you can spend this money to buy a new game for Xbox One or a PlayStation console that is available on sale. It is wise to identify the difference between an emergency and non-emergency necessities.
Some people get loans to buy non-essential things, which is not good at all and can put them in trouble when the repayment is due and they don’t have money for it. Therefore, you should always act carefully.
Put the remaining amount in Your Emergency Fund
Sometimes, you think you need a 1000 dollar loan to get rid of an emergency. However, you end up spending 400 or 500 dollars on hospital stays or car repairs, which means you have 500 dollars on hand. The surplus amount does not mean you start spending it on non-essential things.
The best way is to put the remaining amount in your emergency fund account or savings account. For example, you can use 200 dollars in the future to pay your utility bills and 300 dollars to pay the interest if the rate is 30%. This is what we call acting smartly and getting the most out of your $1000 loan.
$1000 Loan Example
Amount Borrowed = $1000
Interest Rate = 29%
Monthly Payments = 24
|#||Payment Amt.||Total Interest||Total Payments||Balance|
Loan Disclaimer: This is only an example of a loan. Not a solicitation or guarantee for a certain loan amount or interest rate.
Pay off Your Loan As Soon As Possible
Usually, people get 500 dollar loans for 6 months and 1000 dollars for 12-24 months. Sometimes, the lender will make an agreement with you that says “if you return the money in one week, the interest rate will be cut by 50%.”
For example, if you get a $1000 loan with poor credit with an interest rate of 30%, you will end up repaying 1300 dollars. However, if you want to repay it within one week, you will return the lender 1150 dollars instead of $1300.
All loan terms are between you and the lender that may offer you short term credit. We have no access to the interest rate, loan duration, payment amounts, or annual percentage rate (APR). Not all lenders are able to offer you the amount you request. Annual percentage rate may be dictated by the laws of the state where you reside. This may limit your ability to access credit. All lending decisions are made by lenders, not us. Read all terms and conditions provided by the lender prior to accepting a legally binding loan agreement.
Short term credit is not a long term financial solution. It should only be use in an emergency until a less expensive option is available. Void where prohibited.
We receive compensation from lenders for providing your information in an attempt to help you get a funded by one of these lenders. We make no guarantee you will receive the amount you request on your application or that you will receive any loan offer with specific terms. Everything on our website should be considered an advertisement that we may be compensated for.
Most of the lenders in our network do not use a typical credit check, meaning with the 3 main credit bureaus. They may review an personal loan industry specific report such as DataX or Teletrack.
Services on our website are free to use. You will not be charged to submit an application. Installment loans and payday loans should be use only as a temporary solution.
Must be 18 years old to apply and be a full time citizen of the United States.
If you have any complaints about a lender you can contact the Consumer Financial Protection Bureau (CFPB) at:
Mail a complaint
Consumer Financial Protection Bureau
PO Box 2900
Clinton, IA 52733-2900
or call: (855) 411-2372