bad creditIt seems that our world today is based on credit. A person’s credit score has increasing importance over their entire financial life. Having no credit is even worse than having bad credit.

How do you find a loan when your have bad credit?

Don’t try the banks, or the credit unions. They don’t like to loan money based on low credit scores, and also they focus on big-dollar loans. If you need something small, just a few hundred bucks, or you need it for just a short period of time, then bad credit is an obstacle easily overcome.

Installment loans, found locally or through online lenders, are the answer to bad credit.

Loans for Bad Credit

Independent lenders are a different breed than the big banks. They cater to a different clientele, and offer a different kind of lending. Banks prefer large loans that take years to repay. Independent lenders on the other hand focus on small dollar loans (up to $500) and have repayment windows that range from a few days to a few months.

These lenders are small businesses, not multi-national corporations, so they have a keen understanding of small dollar borrowers. Part of that understanding is knowing that everyone has credit problems at one time or another, and that bad credit should not stop you from getting the money you need when you need it.

Tipping the Scales of Bad Credit

Every lender has certain criteria is looks for in clients. If the independent lender you seek does not require a good credit score, there will be other requirements.

Employment verification or income verification is standard for any kind of loan and every kind of lender. If they can’t confirm that you actually have a steady income, there is no way they can lend you money.

Bank account verification is another commonality between most lenders. There was a time when small business owners issued cash loans, but that time is long gone. These days funds are transferred directly into your bank account. Verifying you have an active bank account is a necessity.

If you can verify your income and your bank account, then your bad credit is not the obstacle it once was. There are a great many lenders who are eager to do business with you.

Find out how easy it is to qualify for an installment loan today!

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