Updated onSeptember 30, 2023
How to Get a Loan with Fair Credit Step-by-Step
1. Rocket Loans
If you are looking for a loan with quick same-day funding, look no more! Rocket Loans is a great online lender known for its quick turnaround and affordable interest rates. Accepting applicants with FICO scores as low as 640, the lender is a great option for fair credit borrowers.
Pros
Cons
Rocket Loans Features
- Minimum credit score: 640
- APR: 5.97% to 29.99%
- Loan term: 36 to 60 months
- Loan amount: $2,000 to $45,000
The secret to acquiring a small business loan that meets the needs of your business is to find a loan company that offers you acceptable interest rates and terms. In this article, our experts have outlined the pros and cons of the best small business loans currently on the market. Now, you simply have to decide which loan is right for your business, and apply. It’s that easy!
Read the full Rocket Loans review for more details.
2. Upgrade
If you are looking for a longer-term loan, consider applying for funding with Upgrade. The lender’s lenient qualification process, low borrowing limits, and flexible terms make it an excellent choice for applicants within the fair credit range. Plus, Upgrade offers a convenient mobile up and high-quality customer support.
Pros
Cons
Upgrade Features
- Minimum credit score: undisclosed
- APR: 5.94% to 35.97%
- Loan term: 24 to 84 months
- Loan amount: $1,000 to $50,000
If you qualify for a SoFi loan, you can get benefits, including access to education content and career coaching and the advantage of significantly higher borrowing limits than those offered by other lenders. With a sound credit score, you can lend up to $100,000.
Read the full Upgrade review for more details.
3. AmOne
AmOne is not a direct lender; instead, it is a lending marketplace that can connect you to a variety of lenders to help you find the best deal. Of course, the exact eligibility criteria and applicable rates will vary from lender to lender. However, quick quotes and the variety of options to choose from will surely help you find the best financial product for your needs.
Pros
Cons
AmOne Features
- Minimum credit score: 550
- APR: 5.37% to 35.99%
- Loan term: 12 to 72 months
- Loan amount: $1,000 to $50,000
The secret to acquiring a small business loan that meets the needs of your business is to find a loan company that offers you acceptable interest rates and terms. In this article, our experts have outlined the pros and cons of the best small business loans currently on the market. Now, you simply have to decide which loan is right for your business, and apply. It’s that easy!
Read the full AmOne review for more details.
4. Universal Credit
Universal Credit is another solid option for a fair credit loan. While the interest rates are on the high side, the lender is right on par with the competitors in terms of loan amounts and term length. In addition, you can enjoy some nice perks like a mobile app and free credit monitoring.
Pros
Cons
Universal Credit Features
- Minimum credit score: undisclosed
- APR: 8.93% to 35.93%
- Loan term: 36 to 60 months
- Loan amount: $1,000 to $50,000
The secret to acquiring a small business loan that meets the needs of your business is to find a loan company that offers you acceptable interest rates and terms. In this article, our experts have outlined the pros and cons of the best small business loans currently on the market. Now, you simply have to decide which loan is right for your business, and apply. It’s that easy!
Read the full Universal Credit review for more details.
Frequently Asked Questions(FAQ)
This app literally changed my like. It provides a great experience. I absolutely love it!
About the Authors
Written by: Tetiana Sitiugina-Babiuk
Independent writer, content strategist, and financial sector specialist. Tatiana has an extensive experience in working with financial institutions such as Bank of Canada and Risk Management unit at FinDev Canada. She holds an MA in Financial Risk Management from the University of Toronto.
More about me