If you have a bad credit history, it’s challenging for you to get a loan. Many lenders are advocating for a credit check before they can give you any amount of loan. Well, this is because no one wants to risk their business with bad debts.

Anyone can run out of money and then consider having a loan. Unfortunately, those with no previous credit records for those with a bad credit score often have similar problems regarding borrowing. However, you can use some ways to get a personal loan without going through a credit check. Let’s start with the first strategy.

1. Use a collateral


If you own a significant asset like land or a big business enterprise, you can consider using it as collateral when applying for a loan. Then, the lenders will not have to check your credit history to decide what amount to loan you.

Providing collateral to your lender is a very straightforward strategy that can get your loan approved faster. First, however, you should prove the ownership of the asset before you provide it for collateral. No lender will risk-taking collateral without any matching documents of the borrower. Otherwise, they will be risking the loss of their money.

2. Get a payday loan

Generally, payday loans do not require credit checks for them to get approved. Instead, payday loan lenders largely depend on the evidence of the borrower having a job.
If you are looking for a simple way to get a short-term loan, getting a payday loan is a good option.

They are usually approved faster once you have a stable income flow. You will be able to repay the payday loan using the next paycheck. First, however, the lenders request you to approve them to deduct their money from your bank account. Then, they use that strategy to reduce the risks of bad debts.

Here are the requirements you have to meet to get a payday loan

  • Have at least 18 years of age
  • Must have a stable income for the last three months
  • Have an active checking account
  • You must have a government-issued identification document
  • You must fully understand the terms associated with payday loans

Once you meet all the requirements, you get a payday loan based on your salary. The drawback with payday loans is that they have very high-interest rates, and they are short-termed. In addition, there are fees associated if you fail to pay the loan in the first two weeks. After that, the interest doubles, and the repayment extends for another two weeks.

If you’re going to apply for a payday loan, you should be extremely careful when choosing a lender. Finding an honest and reliable loan provider with transparent terms and no hidden fees is important.

To make things easier for yourself and to avoid searching for a lender on your own, you can contact one of the reputable companies engaged in connecting consumers (loan applicants) with third-party lenders. One of those services is This service will help you to find a lender in an emergency when you need fast cash easily and quickly. All you have to do is apply online, which will literally take a minute. After finding the right lender and processing the loan, you will be approved and get the money in your account within just a few hours.

3. Go for Payday Alternative Loans (PALs)


The Payday Alternative Loans offer lower interest rates compared to payday loans. Like payday loans, PALs do not run the borrower’s credit check.

The payment ranges from one month to 12 months, and the loans range from $200 to $1000. The maximum APR for PALs is 28% compared to Payday loans that can go up 400%.

Getting a Payday Alternative Loan should be a good idea since the interest rates are low at Remember, the higher the interest rates, the easier it becomes for you to default payments.

4. Talk to your employer

Before you take any loan, ask your employer whether they can give you a loan based on your income. For example, some employers lend money to their workers, and they deduct their paycheck for several months.

But not all employers will trust you with their money especially if they doubt your stay in their company. Others will consider some factors like your ability to stay on job for a more extended period. Which ultimately depends on your work experience. The employers may not loan you if they see that you may be fired the next day.

5. Friend or Family Member


Sometimes, it will be good to get help from family members instead of applying for loans with very high-interest rates. For example, a friend or relative may loan you at a lower interest rate or without interest.

Alternatively, they can also cosign on your behalf to get a loan without going through a personal credit check. However, it would help if you are sure to repay that loan. The friends will be risking their credit score on your behalf. If you borrow from friends, ensure that you borrow what you can comfortably pay.

Do not be tempted to borrow a lot because they offer to help you without interest rates.
We all know that the more the debt, the easier it is to default. In addition, lousy payment may lead to ruined relationships. And it will be a bad idea to lose a connection because of something you could have avoided.

6. Credit Unions

The local credit unions in your area can lend you some money if you have an account with them. They assess your previous transactions and your income to decide what amount to give you.

The decision to lend you money entirely depends on your previous bank account records. If they get impressed by your last transactions, it will be easier to get a loan without a credit check. However, if you don’t have an account with them, you can consider getting one and make it more active to get a loan soon enough.

7. Online lenders


Consider getting loans from online lenders whereby they can assess your bank statement to see your transactions and then decide on what amount to loan you. Some online lenders will need to assess your mobile money transactions to decide whether to give you a loan or not. For example, if you have a considerable number of more weight transactions, they will be able to provide you with a loan without a credit check.

What next?

Only get loans that you are sure that you can repay at the agreed time. Too much borrowing can be so bad in ruining your credit score if you don’t pay on time.
Always consider getting loans with lower interests that you can pay for a more extended period.