What is a Personal Loan?
A personal loan is an unsecured loan that does not require any collateral down and normally doesn’t require a traditional credit check to qualify. Most lenders will perform what is known as a soft credit check to determine if your finances support you being approved for a loan. These loans may come with a lower interest rate than a credit card or line of credit for a low-risk alternative when you need money to get yourself out of a tight financial jam or to fund a family vacation.
Benefits of a Personal Loan
Personal loans are a quick, simple way to get the money you need without having to wait weeks for approval. Since these loans are a type of unsecured loan, there’s no need to put any asset up for collateral and you don’t have to go through a traditional check either! You can get your money in hours rather than days. On top of that, our online loans are a great way to build your credit because of our approval criteria.
What Do I Need to Apply for a Loan?
We’ve streamlined our online loan application process to make it quick and easy to apply. Just have the information below handy while filling out our form.
- Government issued ID & over 18 years of age
- Social Security Card
- U.S. Citizenship
- Proof of income & employment (current pay stubs)
- Open and active checking or savings account
- Visa / Mastercard card in your name
Getting a Bad Credit Loan is as Easy as 1-2-3
1. Call or Apply Online
With over 40 years of providing affordable loans for people with low credit, we’ve streamlined our personal installment loan approval process down to a science so you don’t have to spend hours going back and forth just getting your application submitted.
Our easy online loan application process is simple, secure, and fast! All you need to apply is your government issued ID card, proof of employment (pay stubs), verifiable Social Security Number & phone number, and an open checking or savings account with a Visa or MasterCard card.
2. Fast Approval
With getting your bad credit loan online, there is no collateral required regardless of your rating or history, and your ability to qualify for one of our online personal loans is based off of your ability to repay the loan! This lets us process your application and approve it in a matter or minutes so you can get your money ASAP.
3. Get Your Cash in Hours, Not Days!
Once you’re approved for a King of Kash online personal loan, you can pick up your cash at the nearest King of Kash store location or have the money deposited straight into your checking or savings account!
How do these loans work?
In a nutshell, when a bank or credit union reviews an application for a borrower with poor credit, they’ll either deny it outright or approve it, but with a higher interest rate or longer term. This is because they look at those borrowers as higher risks than one with good credit. Yes, you’re being charged more money than someone else simply because you had some financial hardships. Is that fair? No, but that’s how the lending industry works.
Lenders balance out that higher risk of funding a loan for someone with poor credit history with higher interest rates. Typically, people with poor credit have a history of not paying their bills on time, or not paying them at all. Lenders are basically trying to recoup the initial loan as fast as they possibly can before the borrower starts missing payments. Again, is this fair? No, but we don’t work that way.
At King of Kash, our fast loans for bad credit work exactly the same as our quick personal loans. We treat every potential buyer exactly the same and give you the best possible interest rate we can.
What makes our online loans different?
Major financial institutions and banks may turn down your loan application because they keep their restrictions high so they only approve borrowers with great or perfect credit score. If they do approve you, you may have a ridiculously high interest rate and zero bargaining power to bring it down to an affordable number. While this protects the lenders, it leaves you high and dry.
You can easily get approved for personal loans online at King of Kash. We keep our loan terms to 12 months so you can pay them off quickly rather than paying hundreds of extra dollars in interest over two, three, or even four years. Our fixed interest rates make it all of your payments equal so you never have to guess what your loan payment will be.
Have bad credit? Not a problem!
You may be in a hole that you feel like you can’t get out of, but at King of Kash, we know that everybody needs financial help from time to time. Whether you need an online loan with bad credit, debt consolidation loan, home improvement loan, or an auto repair loan since your car broke down, we can help.
No matter what your financial standing is, your ability to qualify for one of our small personal loans is based of off of your ability to repay the balance and not your financial history or how much collateral you’re able to put down at signing. Our loans can be repaid in easy monthly payments, and help improve your credit, so you get the money you need without it impacting the rest of your life.