Bad Credit Loans

For borrowers with a FICO® score below 600, an online loan marketplace is one of the most practical starting points. BroMoney connects bad-credit borrowers with 1,200+ licensed U.S. lender partners, including lenders that specifically work with lower credit profiles. The application uses a soft inquiry that does not affect your FICO® score. The free application takes about 5 minutes, and approval is subject to individual lender review criteria. In practice, comparing personalized offers side by side lets you review actual rates and terms before committing to any lender.

Traditional commercial banks are unlikely to approve borrowers with bad credit, typically defined as a FICO® score below 600. Their risk models, collateral standards, and regulatory capital requirements favor applicants at FICO® 670 or above. Approval through any lender is subject to that lender's individual review criteria and is never guaranteed. In practice, a marketplace approach offers a more realistic path. BroMoney connects borrowers with 1,200+ licensed U.S. lenders, including specialists who work with FICO® scores as low as 500. If a traditional bank has turned you down, exploring marketplace options where lenders focus on lower credit profiles gives you a concrete next step rather than a dead end.

Yes — BroMoney's network of 1,200+ licensed U.S. lenders includes options specifically for borrowers with FICO® scores below 600. BroMoney is a marketplace, not a direct lender. Each lender sets its own eligibility criteria independently, and matching with a lender does not guarantee approval. Checking available offers uses a soft inquiry, which does not affect your FICO® score, so exploring your options carries no credit-score risk.

You can complete the form and review any options available in your Bromoney account. A lender or partner makes its own credit decision and may consider information such as credit history, income, existing obligations, and state availability. Terms and availability vary, and no outcome is guaranteed.

There is no single APR for bad-credit loans. The APR shown in an option is determined by the lender or partner and can vary based on the loan terms, the information provided, and state availability. Review the APR, fees, payment schedule, and total cost before deciding whether to continue.

Review the lender or partner’s name, the loan amount, APR, fees, payment schedule, and total amount to be repaid. Read the loan agreement carefully and consider whether the scheduled payment fits your budget. If any term is unclear, ask the lender or partner before accepting it.

Be cautious if someone promises guaranteed credit, pressures you to act immediately, or asks for payment before providing a loan. Verify the company through your state financial-services regulator and review written terms before sending money or personal information. Suspected fraud can be reported to the FTC at ReportFraud.ftc.gov.

A low credit score doesn't disqualify you from borrowing - it changes the terms. Lenders who work with damaged credit typically look beyond your FICO score at three factors: income stability (consistent employment history carries significant weight), debt-to-income ratio (most lenders prefer DTI below 43%, per CFPB guidelines), and cash flow (some lenders review 3-6 months of bank statements instead of credit reports). Realistic options include secured loans backed by collateral such as a vehicle or savings account, credit union programs for members with thin credit files, and online lending marketplaces that connect borrowers to lenders using alternative verification criteria. Loans for bad credit typically carry APR between 20-36% - compare at least three offers before signing.

Many partner lenders evaluate income, banking history, and debt-to-income ratio in addition to credit score, so options may still exist below 600.