Loans for Bad Credit

Get the loan you need in your account by 18:43

Free, no obligation quote
Won’t affect your credit rating 
Same day payouts

Representative 49.9% APR

Representative example: If you borrow £3,250 over 36 months at a Representative rate of 49.9% APR and an annual interest rate of 41.16% (fixed), you would pay 36 instalments of £158.57. The total charge of credit will be £2,464.57 and the total amount payable will be £5,714.67

Bad Credit Loans


It can be a stressful and challenging time when an unexpected bill or emergency arises, especially if you are unable to get a loan. Bad credit payday loans can be used by anyone struggling to get standard credit products.

NowLoan believes people should not be excluded from receiving financial products because their credit history is less-than-perfect, and strive for financial inclusion. We understand everyone experiences times when there is a genuine and legitimate need for financial help. We work alongside lenders that could lend to borrowers with a bad credit history.

What are Bad Credit Loans?

Bad credit loans, also known as poor credit loans, are targeted for anyone requiring urgent money but are unable to obtain credit from a conventional lender because of their credit rating.

There are several reasons why someone might have a poor credit rating, such as failing to meet a payment on a previous credit agreement. Failing to pay your phone contract on time, or managing a credit card, can also impact your credit score. Having a lack of credit history rating also makes it difficult to receive a loan as lenders have no prior evidence of you successfully managing money.

If either scenario fits your current financial situation, a bad credit loan may be suitable for you. We work alongside a range of direct bad credit loan lenders for poor credit in the UK.

Why Does Bad Credit Make It Difficult to Get a Loan?

When applying for any financial assistance, such as getting a credit card or a loan, having a bad credit rating makes things difficult. Lenders use your credit history to gauge the risk of accepting your application. If the lender doubts you will be able to keep up repayments then they will instantly reject your request. Lenders must ensure they will receive the borrowed money back and base their decision predominantly on your current credit score and credit history. Conventional lenders, such as banks, have clear-cut guidelines on the types of individuals that will be accepted.

Luckily, some lenders offer individuals bad credit loans for poor credit.

Types of Loans for Poor Credit

There are different types of bad credit loans available and each has their advantages and purposes.

Unsecured personal loans, no guarantor bad credit loans

An unsecured bad credit loan allows you to borrow money without needing any assets or collateral you own used as security against the loan. If you fail to make repayments, no capital will be taken.

Secured personal loans, bad credit loans with guarantor

Otherwise known as a secured bad credit personal loan, this requires another person to act as a guarantor on your behalf if repayments fail. A guarantor loan means another person – known as a co-signer – must commit to repay instalments on your behalf. Another option would be to use an asset as security against the borrowed funds.

Advantages of Bad Credit Loans

The most significant advantage of a bad credit loan is you could receive instant cash direct to your bank account, potentially the same day. Accessing immediate cash and having time to repay the loan can be helpful and reassuring.

Receiving a payday loan for poor credit grants the opportunity to improve your current credit rating score. By keeping up with the repayments of your loan amount, you demonstrate an ability to manage finances responsibly.

Once you receive the money you can use the loan for any purpose you see fit, including home improvements, vehicle repairs, DIY projects, and so on.

Things to Remember

Receiving and repaying a bad credit loan is a big decision. Before applying for a payday loan for adverse credit, consider the following.

  1. Secured vs Unsecured:

Decide which type of bad credit loan is best for you. Remember, if you fail to make repayments on a secured loan then you risk losing your security or assets.

  1. Your Future Credit Score:

Failing to keep up payments can affect your credit score negatively. On the flip side, repaying the loan promptly can improve your credit rating in the future. Showing you can fully pay back the loan demonstrates you can manage your finances.

  1. Repayment Length:

The longer the loan term, the higher the interest rate will be.


To qualify for a bad credit payday loan, you must:

  • Must be at least 18 years old
  • Must be a UK citizen
  • Have a minimum income

When applying for a bad credit loan quote, we will not perform a hard credit check. However, when redirected to our qualified lenders they may perform further checks.

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