Best No Credit Check Loans Guaranteed Approval With Same Day Deposit In 2022: Get Bad Credit Loans (2023)

Disclaimer: This is sponsored content. All opinions and views are of the advertiser and do not reflect the same of WTKR.

Sometimes having not enough money can take a toll on you emotionally. While some problems or huge purchases can wait at least until your next payday, there are some financial emergencies that leave us no choice. As people with good credit can count on bank or credit union loans, bad credit borrowers usually find it more challenging to get emergency cash with instant approval. However, there is a way out of this situation.

People with poor credit scores can seek help from direct lenders or connecting companies that provide quick bad credit loans online. If you need money desperately and don’t know where to get quick cash by the end of the next day, here are our top 3 companies that offer no credit check loans with guaranteed approval and same-day deposit.

Top-3 Companies That Offer Best Bad Credit Loans

Although there is no one-stop shop when it comes to loans for bad credit, you should pay attention to some features that can affect your lending experience. When selecting companies below, we pay attention to such factors as the lender’s reputation, loan terms, an annual percentage rate on the loan, the lender’s requirements, and the speed of money funding.

1. 1FirstCashAdvance–a connecting service that is known for competitive emergency loans and bad credit personal loans at fair rates from direct lenders.
2. ASAP Finance–a matching service with guaranteed loans and fast money deposit within one business day.
3. 15M Finance–a connecting company that works with multiple bad credit loan providers and offers unsecured personal loans till payday.

#1 1FirstCashAdvance

1FirstCashAdvance is not a direct lender but a connecting company that works with multiple online lenders. It specializes in short-term loans but also has some long-term financial solutions to offer. Thus, if you need an installment loan or a bad credit personal loan, you’re welcome to apply and get financial assistance with a convenient payment plan.

The bad credit direct lenders it works with consider poor credit score borrowers and perform only soft credit checks. Therefore, you’re welcome to cover your financial emergencies without hurting your credit rating. The company also has a simple application process that takes about 5 minutes to complete. A lender will check your application details shortly after submitting a loan request form and send you a guaranteed loan decision. If approved, you will get a loan amount in your bank account as soon as the next working day. The borrowers who apply before 10:30 AM on a weekday may also access the money by the end of the same business day.

“Loans with no credit check allow borrowers to get fast financial support while improving their credit histories. They may be lifesaving if you use them properly and take into account all their features before making a lending decision. We always try to learn more about an applicant’s situation to offer the right option.” - Latoria Williams, CEO of 1FirstCashAdvance

Eligibility Criteria

• No less than 18 years old;
• A permanent US resident or a legal citizen with a valid ID;
• Have an active bank account;
• Active email and a US phone number are mandatory;
• Can prove a steady source of monthly income.

Advantages

• 24/7 loan application process;
• Available with a bad credit score;
• Offers unsecured loans that don’t require collateral;
• Fast money transfer within a business day;
• Multiple loan options from payday loans to installment loans;
• Doesn’t affect your credit history.

Disadvantages

• High interest rates may be offered on bad credit loans;
• Can’t guarantee you will be approved.

#2 ASAP Finance

ASAP Finance is a lending service created to connect applicants with lenders that can meet their financial needs. It provides no hard credit check loans for borrowers with both good and bad credit scores. Whether you need a payday loan or want to consider personal installment loans, they can offer you an option that suits your current situation.

The service allows you to apply online wherever you are and get approved in just a few hours or even minutes. All you need is to fill out and submit a simple online form on their website. Once complete, the company shares your details with direct lenders through a secured connection. The lender who can meet your needs makes a soft credit check and sends you a loan decision by email. If approved, you can access the funds in your checking account shortly after signing a loan agreement, typically within a business day. Thus, ASAP Finance allows borrowers to solve their money problems fast and without any records in a credit report.

“Some people think bad credit loans are a debt trap and try to avoid them in every possible way. Of course, it’s much better to live a debt-free life, but sometimes situations leave us no choice. If you have a stable income and are sure you can repay the funds on time, getting a no credit check loan may be a good solution. However, you should avoid obtaining debt for some unnecessary purchases. It’s still an expensive borrowing option with its own nuances.” - Gregory Allen, principal CEO of ASAP Finance

Eligibility Criteria

• At least 18 years old;
• Have a valid Social Security Number and government-issued ID;
• A permanent resident of the United States;
• Can verify steady income;
• Have an active bank account, cell phone number, and email.

Advantages

• Simple loan application process;
• Fast money deposit;
• Considers bad credit history;
• Flexible loan terms;
• No additional fees and charges;
• Competitive loan services.

Disadvantages

• Some lenders may pay attention to the borrower’s credit history;
• Expensive borrowing option.

#3 15M Finance

15M Finance is a lending company that works with multiple direct lenders and offers competitive loan options, from online payday loans to personal loans for bad credit. It strives to serve people with any credit history and provides fast financial assistance in case of unexpected expenses or cash emergencies. If you need a no hard credit check loan from a direct lender, 15M Finance can probably help you find it quickly.

As the company works with direct lenders only, you can save money on third-party fees. Applying for online loans with 15M Finance doesn’t affect your credit history, so it can be a good solution for people who need to borrow money while trying to improve their credit. You don’t have to wait for days or weeks to get a loan amount. If approved, a lender will transfer money within one business day directly to your active bank account. Although an approval rate is usually very high, lenders may reject your loan request for different reasons.

“There are no lenders that can guarantee you will be approved for a loan. However, your chances are higher when it comes to no credit check loans. Pay attention to your debt-to-income ratio and estimate your monthly income before deciding on a loan type and amount. Some lenders may also pay attention to your credit score, so consider improving it before applying.” - Shania Berson, co-founder of 15M Finance

Eligibility Criteria

• No borrowers under 18 years old;
• Permanent US residents with valid ID only;
• Have an active checking account;
• Provide the lender with your personal and contact details, including your email and mobile phone number;
• Prove your income is enough to repay a loan.

Advantages

• No minimum credit score requirements;
• Simple application process;
• 100% free service;
• Unsecured loan options with no collateral required;
• Quick finding as soon as the next business day;
• No hard credit check.

Disadvantages

• High interest may be offered on bad credit cash advance loans;
• No 100% guaranteed approval.

What Are Installment Loans No Credit Check Guaranteed Approval?

Installment loans guaranteed approval are cash advances with high approval rates and convenient payment plans. They allow you to borrow up to $5,000 and turn back the money within 24 months in equal monthly payments. Unlike a bank loan, an installment loan is much easier to get due to simple eligibility requirements. As an average payday lender usually makes no credit checks through major credit bureaus, these loans don’t affect your credit history and are available with both a good and a bad credit score.

Another advantage of a bad credit loan is the speed of the application process and money transfer. Online loans for bad credit history usually allow you to complete an application within less than 15 minutes and access the funds in your bank account as soon as the next business day. Thus, bad credit loans are a good solution in case of emergencies for borrowers with credit report issues.

All online loans for bad credit with only a soft credit check may be divided into three types:

• Payday loans. A payday loan is a short-term financial solution that allows borrowers to get from $100 to $1,000 and repay the money back in one lump sum by the next paycheck. Most payday loans are available with a bad credit score. Applying for payday loans doesn’t affect your credit rating as payday loan lenders usually don’t make hard credit checks through major credit bureaus. If you need a small amount now to cover your short-term needs, payday loans are an option to consider;
• Installment loans. An installment loan offers a loan amount of up to $5,000 with a repayment period of 24 months. These no credit check loans are better for covering some long-term financial needs. It may also be a good option for people with low incomes;
• Bad credit personal loans. A bad credit loan for personal needs allows you to get a loan amount of up to $15,000 and repay the money within 60 months. Like all bad credit loans, personal cash advances are also allowed with a poor credit score.

Reasons for Getting an Instant Cash Advance

You can commonly use a no credit check loan to cover any personal needs or financial emergencies. However, no credit check loans may be pretty expensive, so you should not use them to maintain an expensive lifestyle or make some needless purchases. According to borrowers’ experience, people typically use no credit check loans to cover:

• Medical expenses;
• Rent/mortgage payments;
• Utility bills;
• Credit card payments;
• Car/home repairs;
• Daily basics.

Some people also use loans with no credit check to make a debt consolidation, which is a form of debt relief that allows you to combine all the existing expensive debts into one at a lower interest rate.

What Do Loans With No Credit Check Mean?

A no credit check loan usually means the type of borrowing that doesn’t affect your credit score. Most online lenders usually perform only a soft credit check. It means they check your personal data and credit background through free information sources without any records in your credit report. Thus, no credit check loans are cash advances you can use while trying to improve your credit.

Am I Guaranteed Loan Approval?

Although many lenders use this statement, they typically can’t guarantee you will be approved for an emergency loan until they make a soft credit check. They should analyze your data and make sure you will be able to pay off your loan before making a loan decision. Thus, guaranteed loan approval typically means a lender will send you a guaranteed loan decision after making a soft credit check.

Can I Get a Same Day Loan Bad Credit?

No credit check loans are generally available with any credit. Direct lenders are more likely to ignore your credit issues as they are focused mostly on your income. However, lenders usually don’t have much influence on funding terms. They always try to transfer money at the earliest convenience. Typically, you can access the funds in your checking account as soon as the next business day. Some lenders may also offer options with same-day funding for borrowers who get approved before 10:30 AM on a weekday.

Guaranteed Loan Alternatives

Consider some available alternatives to no credit check loans before making a lending decision. Here are some options you can consider that may probably suit you more.

Traditional Personal Loans

Personal loans from traditional financial institutions may be your option if you have a good credit score. These loans offer competitive rates from 5.99% to 35.99$ with the ability to repay the money in 60 months. However, bank loans always come with hard credit checks through main credit bureaus. Thus, applying for a traditional loan will lower your credit score by a few points. Moreover, a bank or a credit union can deny your loan request or offer you higher interest rates if you have less-than-perfect credit.

Auto Title Loans

Auto title loans are secured loans usually offered by banks, credit unions, and online lending companies. These loans are available for borrowers with any credit scores as they require collateral backing that carries less risk for a lender. Like all secured personal loans, title loans offer lower interest rates compared to payday loans. Although a title loan lender usually performs a hard credit check, it doesn’t pay much attention to your credit score. Nevertheless, you should estimate all the risks before applying for a car title loan. Make sure you will be able to make your monthly payment on time as a lender can repossess your vehicle in case of defaults.

Credit Card Cash Advances

Getting a credit card allows you to always have some money in case of any emergencies, wherever you are. You can use it within your credit limits and pay for any personal needs without wasting time on an application process or waiting for a loan decision. Credit card cash advances are also a good way to build or improve your credit if you avoid late payments. However, some credit cards that offer an interest-free promotional period typically come with high interest rates if you won’t pay off your balance on time.

Pawn Shop Loans

Loans from pawn shops are secured cash advances that allow you to get the loan amount you need in exchange for some of your valuable property. It is a good way of getting extra cash for people who don’t want to provide a lender with access to a checking account. However, you can also lose your property if you won’t turn back the money within the repayment period.

Peer-to-Peer Lending

P2P lending is a good way to avoid paying interest or any other lender fees. You can always seek help from your family members or friends and save money on charges. However, it may be a challenge to get an emergency loan from your loved ones if you need some significant amount to cover your current needs. Some people also think this way of solving your financial problems may affect your relationship.

What to Pay Attention to When Choosing Loans With Guaranteed Approval?

First of all, make sure you understand what type of loan product you’re going to obtain. A no credit check loan typically means a lender will check your data through alternative means that won’t affect your credit score. You may also get rejected, even if the lender states it offers online loans with guaranteed approval.

No credit check loans guaranteed approval may vary from lender to lender. You should shop around for a better offer and compare various options from different loan providers to find the most acceptable one. Pay attention to an interest rate, loan terms, the maximum loan amount, your monthly payment amount, as well as a lender’s reputation. Check out some customer reviews to find out if a particular lender is worth working with.

How to Apply for Guaranteed Approval Loans?

Loans with no credit check have a simple loan application process. Here are some basic steps you should take to get a bad credit loan online:

1. Fill out a loan request form. Sometimes the whole application process takes place online, while other lenders require you to visit a store. However, the application form is usually very simple and takes less than 10 minutes to complete.
2. Get a loan decision. The lender that can meet your needs will check your data and send you a response shortly after submitting a form.
3. Read and sign loan documents. Make sure all the conditions suit you before signing a loan agreement. Pay attention to interest rates, loan terms, some additional fees, and other important details.
4. Access the money. The lender will transfer funds by the end of the next business day or even earlier.

FAQ

Are Loans With Guaranteed Approval Real?

Unfortunately, a loan provider can’t promise it will give you a loan before checking your application details. Thus, online lenders basically guarantee they will send you a loan decision, whether positive or negative.

Where to Get a No Credit Check Loan?

You can find many companies that provide bad credit loans across the US. Consider the loan providers above or find a nearby store in your area on the Internet. Also, pay attention to the payday lending status in your state before applying. Some states may set restrictions on no credit check loans.

Do Short-Term Loans With No Credit Checks Hurt My Credit Score?

In most cases, no credit check loans don’t affect your credit history. A direct lender usually makes only a soft credit inquiry, so you may not worry about any records in your credit report.

Is It Possible to Get No Credit Check Loans With a Bad Credit Score?

The answer is yes! As loan providers are usually focused mostly on your income, not credit score, you’re welcome to apply with both good and poor credit if you meet the other lender’s requirements.

Can I Get Emergency Loans Without a Bank Account?

Unfortunately, having an active checking account is usually mandatory to get no credit check loans. However, some lenders may also transfer the funds to your savings account if you don’t have a checking one.