High Risk Personal Loans Guaranteed Approval Direct Lenders

High Risk Personal Loans Guaranteed Approval Direct Lenders for Bad Credit

What Is A High-Risk Personal Loan?

High Risk personal loans are unsecured loans given to a person with bad credit. In such cases, the loan is risky as a successful recovery of the loan is not sure.

High-risk personal loans are offered to people with bad credit or high-risk borrowers. These loans are costly, you’ll pay a higher interest rate compared to the low-risk loans.

You should keep high-risk personal loans as your last resort. Since they are high costs, they will most probably add to your debt burden.

Pro Tip: Get risk-free personal loans by learning how to raise your credit score in 30 days

Types of High Risk Personal Loans

There are two types of high-risk personal loans; no credit check loans and no income verification loans.

No Credit Check Loan

High-risk personal loans with no credit check offer personal loans irrespective of your credit score.

You can apply for such a loan without a credit or a bad credit score. Even bankruptcy can’t stop you from getting one of these loans.

No Income Verification Loan

All lenders verify the borrower’s income before giving them a loan.

However, in the case of high risk personal loans, some lenders will offer you loans at a very high-interest rate and won’t check your income.

These no income verification loans are one of the most expensive loans on the market; we advise using them in real emergencies only.

Can You Get Guaranteed Approval For A Personal Loan?

Every lender does its assessment and risk check.

Your loan application goes through a series of checks and scrutiny tests.

Though your chances of getting a loan are great when you are applying for a loan matching your credit score, there are no guarantees.

There are scammy lenders out there. These lenders may ask you for an upfront payment, which is a scam trap in most cases.

Also, beware of the lenders offering guaranteed approval as this is another red flag. There is nothing like guaranteed loans approval.

You can maximize your chances of securing a personal loan but no one can offer a guarantee.

How can You Get a High-Risk Personal Loan?

The first step is to shortlist the potential lenders and apply.

Use the prequalification feature. Send loan requests to your short-listed lenders and see what they can offer you.

You’ll receive expected interest rates and terms for your loan.

Once you have a few quotes, you can select the lender you want to take a loan from.

However, we recommend taking a good look at the interest rate, repayment terms, penalties, or any hidden fees of your loan.

Pro Tip: Get risk-free personal loans by learning how to raise your credit score in 30 days

Top Direct Lenders for High Risk Personal Loans

Many direct lenders are offering high-risk personal loans. We have selected and reviewed three of the best direct lenders for bad credit personal loans.

Before you decide, search the market for high-risk personal loans or bad credit personal loans.

Having many options will help you decide better and you can get a loan on better terms.


OppLoans is a direct lender for high-risk personal loans.

OppLoans offer payday loans with quick processing, no origination fee, no repayment fee, no late payment fee, good credit limit, but high-interest rate.

Depending on the state, OppLoans terms range between:

  • APR, 59% – 160%
  • Loan Amount, $500 – $4K
  • Loan Term in months, 9 – 18 months

You’ll need to prove a minimum yearly income of $18,000 for approval with OppLoans.

OppLoans Credit Score range for bad credit personal loans approval is 400 – 620.

OppLoans is available in 35 states only.

Common complaints about OppLoans include high-interest rates and a vague policy for settling your debt.


Fiona is a connecting service/marketplace that connects lenders and borrowers.

You’ll need a credit score of a minimum of 550 to apply for loans here. So, this option is not suitable for people with bad or no credit.

The loan amount range is $1,000 – $250,000 with APR anywhere between 2.49% – 35.99%. Loan terms are 2 – 7 Years depending on the type of loan and the state.

  • Partners with over 300 direct and indirect personal loan lenders in the US
  • Get quotes and offers almost instantly
  • No hard inquiry on the application process so doesn’t harm the credit score
  • No obligations
  • Instant approval
  • Receive multiple offers at once and choose the best
  • Not a direct lender

The drawbacks of Fiona include:

  • Sharing customer email with 3rd party websites
  • No guarantee of securing a loan


CashUSA is another great option for people with bad credit scores.

CashUSA is a marketplace that connects lenders and borrowers.

CashUSA offers loans to any credit score at an APR range of 5.99% – 35.99%.

The loan amount range is $100- $10,000 with credit terms ranging from 3 months to 72 months.

You’ll need to prove an annual income of at least $1,000 for being eligible for the loan.

Like other marketplaces, CashUSA does not offer any guarantees for loan approval.

Pros and Cons of High Risk Personal Loans

High-risk personal loans, as the name suggests, come with benefits and damages.

We have shortly discussed the pros including quick access to cash, no collateral requirement, and cons like debt accumulation and high-interest rates.


  • Quick Cash: High risk personal loans are mostly easy to access and you can get cash in a single day. The pre-qualification process is mostly swift and if you are eligible for the loan, you’ll get cash in time for the emergency.
  • Easy Access to Loans: These personal loans do not require much documentation.
  • Many lenders won’t even look into your credit score or income proof; a loan can’t get easier than that.
  • No Collateral Required: You don’t need to offer collateral for an unsecured personal loan. You can get a bad credit personal loan without offering assets in collateral.


  • Prone to Debt:  Easy access to unsecured personal loans, coupled with a high-interest rate, can push you into debt. Once approved, you can get these unsecured loans in a few hours. Sometimes, this easy access to costly loans for people already in financial trouble works as a debt trap You’ll need to be cautious when getting a high-risk personal loan.
  • Costly Loans with High Interest Rate: 
    Almost all bad credit personal loans come at a high-interest rate. The interest rate may be as high as 150% in some cases, which is not good for your financial health. For this reason, unsecured loans should be your last resort in an emergency.

Easy Personal Loans You Can Get

Some personal loans are easier to get than others.

Here, we have discussed three types of personal loans you can get without much hassle.

Payday Loans

Payday loans are cash advances against your salary.

Lenders offer payday loans at abnormally high-interest rates, making them undesirable for many borrowers.

Payday loans are suitable for small, short-term emergencies. You should repay these loans as quickly as you can.

Pawnshop Loans

Pawnshops give personal loans against your belongings.

Pawnshop loans are small and mostly offered for a few weeks.

As per National Pawnbrokers Association, the average pawnshop loan is only $150 and given for 30 days only.

Auto Title Loans

Lenders offer auto title loans against the collateral of your vehicle.

You are offered a loan of 25% to 50% of your vehicle’s market value.

The lender can take your car if you default on an auto title loan.

7 Other High Risk Personal Loans Guaranteed Approval Direct Leanders

Loan CompanyMin. Credit ScoreAPRCredit LimitType
NetCredit 034% – 155% $1,000 – $15,000 Alternative Payday Loans
RiseCredit 060% – 299% $500 – $5,000 Alternative Payday Loans
PossibleFinance0151% – 257% $50 – $500 Alternative Payday Loans
Dave 00% + Fees Up to $200Loan App
Brigit 00% + Fees Up to $200Loan App
Earnin 00% Up to $500 Loan App
MoneyLion 00% Up to $250 Loan App
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