4 Ways to Get a Personal Loan Even If You Have Bad Credit

personal loanYou probably all know how important it is to maintain good credit when buying a house or getting a personal loan. It’s basically one of the most crucial requirements any lender will ask from you. However, getting a good credit score isn’t always easy and possible due to a number of factors. If you’re one of those people who have a not-so-stellar credit score, then this guide will give you tips on how to get a loan despite your current credit.

1. Get a Cosigner

If you are looking to get a personal loan but have a bad credit score, then one of the best things you can do is get a cosigner. A cosigner is a person who will be responsible for paying the loan if you fail to make payments on time. Basically, a cosigner is like a safety net to ensure you will be able to pay off the loan.

A cosigner can either be your family member or a family friend who will be willing to lend their name to the loan in case you’re not able to pay. However, it’s not just about your willingness to pay. A cosigner should be able to make regular payments for the loan and have a good credit score.

When getting a cosigner, you have to make sure that the person you get to sign as your cosigner is a responsible one who has the means to pay off the credit if you fail to do so.

2. Find the Right Lender

Another way to get a personal loan is to find a lender that offers loans to people with bad credit. Surprisingly, there are a lot of lenders, even banks, that are willing to lend money to people with a bad credit score. You just have to make sure that you’re choosing a lender that’s willing to offer you a loan despite your credit score.

You can also find a private lender who is willing to lend you a loan. Private lenders are a lot more lenient when it comes to giving out loans to people with a bad credit score. However, you need to be careful and choose a reliable lender that will definitely give you the loan you’re looking for.

3. Use a Credit-Building Loan

If you haven’t yet established a good credit score, the third method you can use is getting a credit-building loan. A credit building loan is basically a loan that you’re going to use to start building your credit history.

With a credit building loan, you can get a loan for a certain amount of money, and you have to use this money to pay off bills or any other obligations you have. You can also use this loan to start investing in your business.

You have to pay off all the bills you have, and then you can use the extra cash to pay the loan in full. This way, you will be able to establish a good credit history.

4. Look for a Personal Loan Alternative

If you still can’t get a personal loan or a credit-building loan, then you can consider getting a personal loan alternative. Personal loan alternatives are basically personal loans that have a small value. These small personal loans can be used for a number of things, such as paying for bills that are past due, paying for your medical expenses, or paying for your business expenses.

You can get a personal loan alternative from alternative loan providers, and you can choose from a number of lenders that are willing to give you money. However, you need to make sure that you don’t sign up for anything that will charge you too much in the end.


Being denied a loan if you have a bad credit score is awful, and it makes you feel like there’s nothing you can do to solve the problem. However, there are a number of ways that you can still get a loan despite your credit score. You just have to find the best way to allow you to fulfill your dream of buying your own house or getting a loan.

Athens Finance is your trusted lending partner, offering our clients some of the best loan solutions you can find. We offer a variety of personal loan sizes that fit your needs and your budget. If you ever find yourself in need of a personal loan for bad credit in Athens, AL, our loan officers are more than willing to assist you. Contact us today to get started!

Leave a Comment