$1,000 loans: good, bad or no credit as fast as today | finder.com (2023)

Not all lenders offer $1,000 loans, but there are a handful of options for all credit types — even if you have no credit score at all. We compared over 260 personal loan providers, payday lenders and connection services to help you find the right $1,000 loan for your needs.

8 lenders that offer $1,000 loans for bad credit or no credit

These personal and installment loan providers offer $1,000 loans to people with credit scores below 580. With Stilt and Boro, you don’t need a credit score to qualify — even if you have no credit profile.

But watch out for high interest rates on installment loans, which can top 300% in some cases.

ProviderRequirementsBest forFinder rating
Opploans
  • Direct deposit
  • Meet minimum income requirements
  • Live in eligible state
Installment loans that can improve your credit★★★★★
Go to site
NetCredit
  • Varies depending on your state of residence.
  • Depending on your state of residence, your personal loan might not be offered by NetCredit but through its partner lender, Republic Bank & Trust Company, Member FDIC.
Credit scores under 550★★★★★
Monevo
  • Credit score of 300+
  • Legal US resident
  • Age 18+
Comparing personal loans★★★★★
Go to site
LoansUnder36
  • Steady source of income
  • Verifiable bank account
  • US citizen or permanent resident
  • At least 18 years old
Finding a loan with an interest rate under 36%★★★★★
Go to site
Fast5Kloans
  • Regular source of income
  • Verifiable bank account
  • US citizen, Ages 18+
Comparing payday and installment loans★★★★★
Go to site
MoneyLion
  • Must be a MoneyLion Plus member
  • Have a job that pays with direct deposit
  • A checking account with a positive balance
  • A verifiable identity
  • Proof of ability to repay
  • Live in an eligible state.
Repeat borrowers★★★★★Read more
Kora
  • College student or recent graduate
  • Live in an eligible state
  • 18+ years old
College students with no cosigner
Not yet rated
Stilt
  • Be employed
  • Have a US bank account
  • Live in a state where Stilt operates
  • Hold one of the following visas: F-1 and OPT, H-1B, H4, O-1, L-1, TN, J-1, DACA or be a US citizen.
Nonresidents and recent immigrants★★★★★

7 lenders that offer $1,000 loans for good and fair credit

These providers offer $1,000 loans to people with credit scores above 580. Generally, the higher your credit score, the lower the rate you’ll qualify for.

ProviderMin. credit scoreAPRFinder rating
Upstart3006.5% to 35.99%★★★★★
Go to site
Upgrade6207.96% to 35.97%★★★★★
Go to site
LendingClub6008.05% to 36%★★★★★
Go to site
Credible5805.40% to 35.99%★★★★★
Fiona5503.49% to 35.99%★★★★★
Go to site
PNC BankNot stated6.39% to 28.74%★★★★★Read more
Laurel Road6808.99% to 24.50%★★★★★Read more

How much will a $1,000 loan cost?

The actual cost of a $1,000 loan depends on your interest rate and the loan term. A typical interest rate for a short-term loan is around 10%, but it’s possible to get a rate between 3% to 36%, depending on your credit score.

If you were to take a $1,000 loan with a 12-month term at 10% interest, you’d have a monthly payment of $87.92 and pay a little over $54 in interest, if you make all the payments on time.

Let’s say you wanted a longer loan term, though. If you were to take the same loan amount out over the course of two years, you’d pay $107.48 in interest, but your monthly payment would be around $46.

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However, if you have less-than-perfect credit, you may have to plan for a rate in the high double digits. But the faster you pay off the loan, the more you’ll save on interest.

Calculate how much your loan will cost

Use our calculator below to figure out how much a $1,000 loan will cost you.

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How long does it take to get a $1,000 loan funded?

It depends on the method you choose.

If you were to use a connection service to locate a lender willing to work within your situation, it could take a few days or even a couple weeks to get everything sorted.

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If you were to go with a payday lender, or cash advance app, it could be as soon as 24 hours — or in some cases, instant. However, with convenience may come more fees or higher rates.

For $1,000 installment loans or title loans, it may take a few days or over a week. This is simply because you’ll have to submit all your documents like proof of income, proof of residence, identification and so on.

Eligibility requirements for a $1,000 loan

Some requirements you’re likely to run into for short-term loans include:

  • Decent credit score. You may need a credit score at or above 580 to qualify.
  • Enough income. To make sure you can repay the loan on time, lenders will review your income and other monthly bills.
  • No major negative marks. Lenders will take a look at your credit report to see your borrowing history. If you’re in active bankruptcy or were recently discharged, it can make it difficult to qualify. Multiple repossessions, charge-offs, or other major marks can influence a lending decision as well.

How to increase your chances of approval

While there’s no definite way to make sure a lender approves your application, it could help to keep the following in mind:

  1. Establish eligibility criteria. Review the list of loan eligibility requirements available on each Finder loan review page before you apply. Call the lender if you have doubts about eligibility.
  2. Go through your credit report. Get a free copy of your credit report online before you apply. Understanding your credit history will put you in a better position to know what loans you can and can’t apply for.
  3. Limit your applications. Every time you apply for a loan, it counts as an inquiry on your credit report, which can lower your score.

    Alternatives for short-term loans

    If your credit score is poor or is getting in the way of qualifying for a short-term loan, consider the following options to get the money you need:

    • Personal loan providers — 36% max APR, 2- to 7-year terms
      Some lenders specialize in bad credit, and if you qualify, this is often the least expensive option for a loan.
    • Credit unions — 28% max APR, 1- to 6-month terms
      If you’re willing to become a member, federal credit unions sometimes offer payday alternative loans as high as $1,000
    • Installment loan providers — 300%+ APR, 3- to 18-month terms
      Installment loans are easier to qualify for than a personal loan and, in some cases, can be a faster option, but you’ll pay high interest and fees.
    • Title loan providers — 100%+ APR, funded in 30 minutes
      These lenders use your car as collateral to help you qualify and often require an in-person application, but you can get funded in as little as 30 minutes, if you’re willing to pay triple-digit interest rates.

      5 factors to compare $1,000 loans

      How you compare your options largely depends on whether you’re applying for a payday loan or a standard $1,000 loan. Below, we’ve broken down what you need to know.

      1. Eligibility. Don’t waste your time applying for a loan you can’t qualify for. Check your eligibility first.
      2. Interest rate. Installment loans are generally expensive, but some providers offer more competitive APRs than others.
      3. Loan terms. Try to find the shortest term that you can comfortably afford to save on interest.
      4. Fees. While fees are included in the APR, be aware of the charges you might have to pay up front.
      5. Reputation. While customer reviews don’t always accurately reflect a lending institution’s values, reviews can give you insight into how the company handles conflict. We recommended at least checking out our best picks for small loans and each lender’s Better Business Bureau profile to see if they have any active lawsuits or notice any trends among the negative reviews.

      How do you know if a lender is legit?

      What to watch out for

      When you look for a $1,000 loan, bear in mind that it can come with associated risks:

      1. Avoid taking on more debt than you can handle and exercise caution throughout the loan process.
      2. A short repayment period and high fees translate into high repayments.
      3. You can avoid high interest rates by comparing multiple lenders. Remember to consider all costs, including financing fees if applicable.

      No-credit-check loans are more expensive

      Apply for a $1,000 personal loan with no credit check with lenders like Stilt that use employment data instead of your credit score. Some installment loan providers also offer no credit check loans.

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      But these loans tend to be more expensive than financing from a lender that checks your credit score. Most bad credit personal loan and installment loan providers will consider you for a loan even if you have a few bad credit listings on your file.

      Check the eligibility criteria listed for both bad credit and no credit check lenders and see which one best meets your needs.

      Compare lenders that don’t check your credit

      Compare more lenders that offer $1,000 loans

      Check the websites of any providers you’re interested in to confirm they operate in your state of residence.

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      FAQs

      Can I get a $1,000 loan with bad credit? ›

      Yes, $1,000 personal loans exist and are accessible for most types of borrowers. Since this is a smaller loan amount, you may not need excellent credit to qualify. If you need to borrow $1,000 for a few weeks, you may be able to charge it to a credit card and pay the balance before your next statement.

      What is the easiest loan to get right now? ›

      The easiest loans to get approved for are payday loans, car title loans, pawnshop loans and personal loans with no credit check. These types of loans offer quick funding and have minimal requirements, so they're available to people with bad credit. They're also very expensive in most cases.

      What credit score do I need to get a 1000 loan? ›

      You will likely need a credit score of at least 580 to get a $1,000 personal loan. Most lenders that offer personal loans of $1,000 or more require bad credit or better for approval, along with enough income to afford the monthly payments.

      What's the easiest loan to get with bad credit? ›

      The easiest loans to get approved for with bad credit are secured, co-signed and joint loans because you can use collateral or another person's creditworthiness to make up for your bad credit score. Payday loans, pawnshop loans and car title loans also are easy to get, but they're extremely expensive.

      Can I get a loan with a 450 credit score? ›

      You can borrow anywhere from a few thousand dollars to $100,000+ with a 450 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

      Can you get a personal loan for $1,000? ›

      Personal loans are often used to finance significant expenses, but there are also small personal loans, in amounts as low as $1,000. A $1,000 personal loan can be used for almost any purpose. Whether you need money to pay off medical bills, a vacation or a home renovation project, the extra cash can help.

      Can I get a loan with 500 credit score? ›

      You may qualify with a poor credit score as low as 500, but you must also satisfy several other requirements to get an FHA loan guarantee. These loans require a 10% down payment (or 3.5% if your credit score is above 580), mortgage insurance, and a monthly payment for the life of the loan.

      Can I get a loan if I have a 500 credit score? ›

      If conventional loans are more for experienced borrowers with credit scores in the Good range, FHA loans are aimed more at first-time homebuyers, especially borrowers with credit scores in the Poor to Fair FICO Score range. Anyone with a minimum credit score of 500 can apply for an FHA loan.

      What is the hardship loan? ›

      A hardship loan is a type of financing designed to help those in a financial crisis caused by an emergency expense or a shortage of earnings. You can use a hardship loan to cover anything unforeseen, like a medical bill or car repair, or to pay for monthly basics, such as food and rent.

      Can I get a loan even with bad credit? ›

      You may be able to get a loan with bad credit if you work with a lender that doesn't require good credit, or if you can qualify based on other criteria. While your credit score can be an important factor in getting a loan, lenders may also consider your income, debts, collateral and credit history.

      How can I get an instant loan in 5 minutes? ›

      Specta is an online lending platform that gives you loans of up to 5 Million in one transaction all within 5 minutes! No collateral, no paperwork and no visit to any office. With Specta, you can take care of urgent personal and business needs anywhere, anytime.

      How much can you borrow with a 580 credit score? ›

      You can borrow anywhere from a few thousand dollars to $100,000+ with a 580 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

      How big of a loan can you get with a credit score of 550? ›

      You can borrow $1,500 to $20,000 with repayment terms from two to five years. Keep in mind that larger loan amounts might require collateral.

      Can I get a loan with a 571 credit score? ›

      A 571 credit score can be a sign of past credit difficulties or a lack of credit history. Whether you're looking for a personal loan, a mortgage or a credit card, credit scores in this range can make it challenging to get approved for unsecured credit, which doesn't require collateral or a security deposit.

      Which app gives instant loan in minutes? ›

      MoneyTap is a popular instant personal loan app. You can easily avail an instant personal loan of up to ₹5 Lakhs on MoneyTap at interest rates starting from just 1.08% per month.

      What is the most cash App borrow? ›

      Cash App Borrow is a type of short-term loan offered through the Cash App platform. This is how it works: If you're eligible you can take out a loan from $20 to $200.

      How do you unlock a borrow on cash App? ›

      There's no way to “unlock” Cash App Borrow, you just have to make regular deposits so they see a pattern of money coming into the account. The maximum loan amount, $200, is available if you deposit at least $1,000 per month into your Cash App account.

      Which type of loan does not require a credit check? ›

      For example, payday loans and high-rate installment loans might not require a credit check. Or, if you own a vehicle or valuable property, you may be able to get an auto title loan or pawn loan without a credit check.

      Can you get a $2,000 personal loan with no credit? ›

      Yes, you can get a $2,000 loan with no credit if absolutely need be. However, if a lender is willing to work with you, they will most likely charge you much higher interest rates and an origination fee than if you had some established credit history.

      What is the lowest credit score for a loan? ›

      Generally, borrowers need a credit score of at least 610 to 640 to even qualify for a personal loan. To qualify for a lender's lowest interest rate, borrowers typically need a score of at least 690.

      Can I get a personal loan with a 500 credit score? ›

      It is possible to qualify for a personal loan with a poor credit and a credit score as low as 500, but your choices are very limited. The best way to get a personal loan with a 500 credit score is to start by checking to see if you pre-qualify for loans from major lenders.

      Will a bank give you a loan with a 500 credit score? ›

      You may qualify with a poor credit score as low as 500, but you must also satisfy several other requirements to get an FHA loan guarantee. These loans require a 10% down payment (or 3.5% if your credit score is above 580), mortgage insurance, and a monthly payment for the life of the loan.

      How big of a loan can I get with no credit score? ›

      Just keep in mind that if you are approved for the loan with a lower (or no) credit score, you may be subject to a higher interest rate. You can apply for loan amounts as low as $1,000 and as much as $50,000.

      Can I get a loan with a 400 credit score? ›

      Consumers with very poor credit scores between 400 and 450 often have their credit applications rejected, according to FICO, a credit scoring agency. But it doesn't have to be that way. Loans and credit cards for 400 to 450 credit scores are still available.

      Can you get a personal loan with a 480 credit score? ›

      You can get a personal loan with a 480 credit score, but your choices are very limited. The best way to get a personal loan with a 480 credit score is to start by checking to see if you pre-qualify for loans from major lenders.

      How much can I get approved for with a 500 credit score? ›

      You can borrow anywhere from a few thousand dollars to $100,000+ with a 500 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

      Is Rapid Cash legit? ›

      Speedy Cash is licensed to operate in multiple states across the U.S. (including Nevada, Oregon and Washington under the name Rapid Cash) and provides payday loans, installment loans, title loans and lines of credit online, over the phone and in stores.

      Can I get a loan with a credit score of 545? ›

      A 545 credit score can be a sign of past credit difficulties or a lack of credit history. Whether you're looking for a personal loan, a mortgage or a credit card, credit scores in this range can make it challenging to get approved for unsecured credit, which doesn't require collateral or a security deposit.

      Can I get a loan with a credit score of 530? ›

      A 530 credit score is considered “very poor” by most lenders. This means that if you're looking for a personal loan, you may have difficulty qualifying. Ultimately the amount you can borrow will depend on several factors, including what you can afford to repay.

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