Personal loans designed for thin or damaged credit. Higher APR, smaller amounts — read carefully.
A “bad-credit loan” is really a personal loan designed for borrowers with thin, no, or damaged credit. The amounts are usually smaller ($500–$35,000), the terms shorter, and APRs significantly higher than for prime personal loans — sometimes substantially so.
Some providers in this category cap APR at 35.99% (most state usury limits); others operate under tribal-lending or state-charter rules with APRs that can run 99%+ or, in a few cases, 160%+. Always read the Truth-in-Lending disclosure before signing.
Read the Truth-in-Lending disclosure carefully. Bad-credit loans can be the most expensive borrowing covered by Cash Rvyn. A small monthly payment over a long term can hide a very large total finance charge. Always check credit-union PALs (capped at 28% APR), employer payroll advance, and family/community lending first.
