How to Get a No Credit Check Personal Loan
Find a willing traditional lender., Evaluate costs and fees., Consider micro lending., Investigate a pawn shop loan.
Step-by-Step Guide
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Step 1: Find a willing traditional lender.
Not every bank or lender is in the business of offering personal loans without credit checks.
Start by calling the local bank or credit union you normally do business with and if they don't offer this type of loan, expand your search to other banks in your area.
Compare the interest rate offered on personal loans without credit checks.
You may be able to find what appears to be a high-interest conventional loan, until you compare it to the interest rates on payday loans, cash advances, and title loans.
Lower interest means less money out of your pocket over the term of the loan. -
Step 2: Evaluate costs and fees.
Many lenders charge significant fees for putting through personal loans without credit check requirements.
Loan origination and other items may show up on your overall personal loan, folded into monthly payments.
Look out for excessive fees and don't be afraid to walk away from deals that seem too expensive. , You may be able to use internet micro lending services (also called peer to peer lending) to help you find loans for amounts under $35,000.
They may do a credit check, but this is only to set interest rates, not to disqualify you.Popular micro lending sites include Kiva, Prosper and Lending Club. , If you have anything of value such as jewelry, electronics, artwork, etc., you can bring it to a pawn shop and they will give you cash for what they believe it is worth.
The merchandise is held for a specific period of time, and if you don't repay the loan on time they will sell it. -
Step 3: Consider micro lending.
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Step 4: Investigate a pawn shop loan.
Detailed Guide
Not every bank or lender is in the business of offering personal loans without credit checks.
Start by calling the local bank or credit union you normally do business with and if they don't offer this type of loan, expand your search to other banks in your area.
Compare the interest rate offered on personal loans without credit checks.
You may be able to find what appears to be a high-interest conventional loan, until you compare it to the interest rates on payday loans, cash advances, and title loans.
Lower interest means less money out of your pocket over the term of the loan.
Many lenders charge significant fees for putting through personal loans without credit check requirements.
Loan origination and other items may show up on your overall personal loan, folded into monthly payments.
Look out for excessive fees and don't be afraid to walk away from deals that seem too expensive. , You may be able to use internet micro lending services (also called peer to peer lending) to help you find loans for amounts under $35,000.
They may do a credit check, but this is only to set interest rates, not to disqualify you.Popular micro lending sites include Kiva, Prosper and Lending Club. , If you have anything of value such as jewelry, electronics, artwork, etc., you can bring it to a pawn shop and they will give you cash for what they believe it is worth.
The merchandise is held for a specific period of time, and if you don't repay the loan on time they will sell it.
About the Author
Nicholas Campbell
Experienced content creator specializing in hobbies guides and tutorials.
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