Can I Get a Personal Loan with No Credit History?

If you need a personal loan but don’t have an established credit history, you’re in luck. Some lenders may approve you for a personal loan with no credit history.

How personal loans work

Personal loans are flexible, meaning you can use them to cover just about any expense. They can help you consolidate debt or pay for a car repair, or a home improvement project. If you take out a personal loan, you can receive anywhere from hundreds to thousands of dollars. You’ll then pay back your loan over several months.

Can I get a personal loan with no credit?

Have you asked yourself how can i get a personal loan with no credit? The answer is many lenders will consider many factors like your income and employment history. This means that you may still get approved for a personal loan with no credit history.

Types of personal loans for borrowers with no credit history

Payday loans

Known as payday loans, short-term, small dollar loans, can hold you over until you get your next paycheck.

Installment loans

With installment loans, you’ll receive a certain amount of money at once. Then, you’ll pay it back over time with fixed payments.

Lines of credit

A line of credit lets you withdraw funds whenever you’d like, up to your set credit limit. You’ll only have to pay interest on the funds you borrow.

Small Personal Loans

When you do not need a large amount but still bigger than a payday loan amount small personal loans is a great choice.

How to get a personal loan with no credit

1. Click the Apply Now Button: Start by clicking the apply now button online.
2.  Fill out the online application  Enter your basic information on the application and then click the submit button.
3.  Receive a fast loan decision: Omce you submit your application you will receive a loan decision in about 90 seconds.
4. Get approved, get funded: If you are approved and you agree to the rate and terms of the loan. The lender will send the money by direct deposit and should show in your bank account ready to use as soon as the next business day.