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Bad Credit Personal Loans Guaranteed Approval $5,000

Borrowing loans when you are in pressing need or facing financial challenges could be a lifesaver, but what happens if you have a less than ideal credit score? Obtaining a personal loan may seem like an impossible task. However, there is hope.

Today on MyBankGeek blog post, we will show you some of the concept of “Bad Credit Personal Loans Guaranteed Approval $5000.” 

Mind you, despite having a poor credit history; certain lenders offer opportunities for individuals to secure a $5000 personal loan. We’ll also show you the key aspects of these loans, including the requirements you must fulfil to be eligible and the pros and cons involved. So without wasting much of your time,  let’s get started.

What Is a Bad Credit Personal Loan?

A bad credit personal loan is a loan that is offered to borrowers with a poor credit history. These loans typically have higher interest rates and fees than loans for borrowers with good credit, but they can be a way to get the money you need when you have bad credit.

What Kind of Credit Score Do You Need to Get a $5000 Personal Loan?

The minimum credit score you need to get a $5000 personal loan is 580 or higher credit.

If you have a credit score below 600, you may still be able to get a $5000 personal loan, but you’ll likely have to pay a higher interest rate.

Here is a table of the minimum credit scores required by some popular lenders for a $5000 personal loan:

LenderMinimum Credit Score

How Much Would a $5000 Personal Loan Cost a Month?

The monthly cost of a $5000 personal loan depends on the interest rate and the loan term. For example, if you take out a $5000 loan with an APR of 10% and a loan term of 3 years, your monthly payment would be $161.25. If you take out the same loan with an APR of 5% and a loan term of 5 years, your monthly payment would be $106.00.

Here is a table showing how the monthly payment changes with different interest rates and loan terms:

Interest RateLoan Term (Years)Monthly Payment

Best Bad Credit Personal Loans Guaranteed Approval $5,000

Keep reading to explore the best bad credit personal loans guaranteed approval of $5,000. 

  1. 100 Lenders (Best Overall) 
  1. MoneyMutual (Best for Bad Credit Personal Loans $5,000)
  1. VivaLoan (Best for Poor Credit Guaranteed Approval)
  1. FundsJoy (Best for High-Risk Personal Loans)

1. 100Lenders 

100Lenders is an online lending platform that provides bad credit personal loans with guaranteed approval. It aims to be an excellent source of emergency cash for individuals who may have difficulty obtaining loans from traditional financial institutions due to their credit history. 

100Lenders provides a very fast loan application process which means you can get your loans approved within just 5 minutes, making it one of the best bad credit personal loan lenders in the finance industry.  


To be eligible for a loan through 100Lenders, applicants must meet the following criteria:

  • Applicants must be 18 years of age or older.
  • A valid government-issued photo ID is required for verification purposes.
  • Borrowers must be US citizens or permanent residents.
  • Applicants must have a recurring monthly income of at least $800 to demonstrate their ability to repay the loan.
  • A valid bank account is necessary for the funds to be deposited and for loan repayments.


  • 100Lenders offers loan amounts ranging from $200 to $5,000. 
  • 100Lenders offers a variety of loan products to consumers, including bad credit installment loans, high-risk personal loans, instant online cash advances, and personal loans for bad credit. 
  • The platform works with a wide range of bad credit lenders, increasing the chances of finding a suitable loan offer for the borrower.
  • Borrowers can enjoy flexible repayment terms of up to 60 months. 
  • The online application process is quick and easy, taking no more than 5 minutes to complete. 
  • Applicants can expect to be matched with several direct lenders. 


  • Lack of dedicated customer support, such as a direct email or phone number for inquiries or assistance.
  • 100Lenders does not issue loans directly
  • 100Lenders is not available in all 50 states, potentially restricting access to borrowers from certain regions.
  • The platform mentions interest rates of up to 35.99%.

2. MoneyMutual 

MoneyMutual is a popular loan lending network in the industry that operates as an agent in connecting borrowers with reputable loan leaders.  MoneyMutual is an excellent source of instant cash ranging from $500 to $5,000, and be assured that your application process will take only a few minutes to be completed.  

From our extensive research, MoneyMutual stands out as an exceptional lending network with its straightforward application process and user-friendly interface, ensuring a hassle-free experience in securing your desired loan amount.


To be eligible for a loan through MoneyMutual, you need to meet the following requirements:

  • You must be at least 18 years old.
  • You need to be a US citizen or a permanent resident.
  • You should have a recurring monthly income of at least $800.
  • You must have a valid bank account to receive the loan funds.
  • MoneyMutual’s services are not available to residents of New York and Connecticut.

Pros of MoneyMutual

  • MoneyMutual offers loan amounts ranging from $200 to $5,000.
  • Borrowers using MoneyMutual have the flexibility to choose loan terms and repayment schedules that suit their financial situation, 
  • MoneyMutual aims to provide clear and transparent loan terms to borrowers.  
  • MoneyMutual offers a user-friendly interface and a straightforward online application process that takes no more than five minutes to complete. 

Cons of MoneyMutual

  • MoneyMutual’s APRs are competitive compared to payday loans.  
  • MoneyMutual does not offer a dedicated customer support line. 

3. VivaLoans 

If you seek a reliable network of lenders willing to provide bad credit personal loans ranging from $1,000 to $10,000 or even higher, VivaLoans is an exceptional choice. VivaLoans has an extensive network of reputable direct lenders, offering loans of up to $15,000 with competitive APRs of up to 35.99%. 

What sets them apart is their swift loan approval process, connecting you with multiple direct lenders in a matter of minutes. However, besides bad credit personal loans,  VivaLoans provides various loan types, including payday loans, instalment loans, and short-term loans, allowing borrowers to find the best loan type that meets their financial needs.  


To apply for a loan through VivaLoans, you must meet the following criteria:

  • You must be 18 years of age or older. 
  • You must be a legal resident of the country where VivaLoans operates. 
  • You should have a valid bank account, email address, and home address. 


  • VivaLoans offers a broad spectrum of loan amounts, ranging from $100 to $15,000.
  • The platform claims to provide loans with annual percentage rates (APRs) of up to 35.99%. 
  • VivaLoans does not conduct a traditional credit check, which can benefit individuals with bad credit or limited credit history.
  • The application process is straightforward and user-friendly. 


  • VivaLoans itself is not a direct lender. 
  • VivaLoans might not be available in all 50 states. 
  • VivaLoans does not have a dedicated customer service number or email address. 
  • VivaLoans offers a maximum borrowing limit of $15,000, which might be lower than some borrowers seek.

4. FundsJoy 

FundsJoy offers a user friendly online platform for bad credit borrowers to apply for loans up to $5,000. With quick approval and flexible repayment terms, borrowers can receive offers from legitimate direct lenders in minutes. 

The loan request form takes just five minutes to complete, and funds can be received in the bank account as early as the next business day, provided the approval is obtained by 5 pm on weekdays. It’s an excellent choice for cash-strapped individuals seeking competitive rates and a speedy process.


To be eligible for a loan from FundsJoy, applicants must meet the following criteria:

  • Applicants must be 18 years of age or older.
  • Applicants need to have a minimum monthly income of $800.
  • Prospective borrowers must submit a loan request form through the FundsJoy website.


  • FundsJoy offers loans of up to $5,000. 
  • FundsJoy promises respectable Annual Percentage Rates (APRs) up to 35.99%. 
  • The loan approval process is swift, and if approved, borrowers can expect to receive the funds as early as the next business day. 
  • FundsJoy does not conduct a credit check during the loan application process. 
  • Borrowers can choose from various loan terms 
  • FundsJoy provides unsecured loans that don’t require collateral. 


  • FundsJoy has higher-than-average interest rates. 
  • Not all borrowers may qualify for the maximum loan amount of $5,000. 
  • FundsJoy’s loans are designed to meet short-term financial needs and emergencies. 
  • Some states may not offer access to all loan products. 

READ MORE: How To Get A Loan With No Credit

READ MORE: No Credit Check Loans Guaranteed Approval Direct Lender


Our recommended list of reputable online marketplaces offers a range of no credit check bad credit personal loans for emergency cash situations. These loan lending networks, as earlier mentioned in this article, offer loans ranging from $500 to as high as $10,000 or even more; these options come with guaranteed approval. 

You can address whatever your financial need is as soon as you receive the loan without any worries. However,  your only major concern should be how to be considered eligible for these loans, as most loan lending networks have certain requirements you must fulfill before you can get accepted for bad credit personal loans. 


How much can I borrow with a bad credit personal loan?

The amount you can borrow with a bad credit personal loan will vary depending on the lender and your individual circumstances. However, most lenders will not approve you for more than $5,000 if you have bad credit.

What are the risks of taking out a bad credit personal loan?

There are a few risks associated with taking out a bad credit personal loan. First, the interest rates on these loans are typically higher than loans for borrowers with good credit. This means that you will pay more in interest over the life of the loan. Second, the repayment period on bad credit personal loans is typically shorter than loans for borrowers with good credit. This means that you will have to make larger monthly payments. Finally, if you default on a bad credit personal loan, your credit score will be damaged even further.

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