Loans for Poor Credit – Top Payday Loans in 2021

When you have a low credit score and a history of poor credit, you may feel that your options to borrow money are limited. However, if you look in the right places and choose legitimate, authorized lenders, you may find plenty of options available. At Viva Payday Loans, we can help you find lenders of loans for poor credit using just one application. From there, you can browse freely to choose a suitable offer and get the cash you need the same day.

Apply now by telling us how much you want to borrow, between £100 to $5,000, and how long you want repayments to be, between 3 – 12 months for loans under $2,000 and maximum of 23 months for larger loans.

Note: Viva Payday Loans is a lender-finder service in Australia, we do not offer financial advice. Please consider seeking independent legal and financial advice to check how the information and ideas presented on this website relate to your unique circumstances.

What are Loans for Poor Credit?

Loans for poor credit are quite simply short term loans ideal for those with less than perfect credit ratings. You may have had financial difficulty in the past, a history of late payments or even defaulted on borrowing with other types of credit, leading you to have a low credit score. However, this does not always reflect an applicant’s current affordability, which is why payday loans and personal loans for poor credit are available. Many traditional forms of credit will look for applicants with good to excellent credit scores before accepting a loan application, helping them take fewer risks when lending cash. This means many people cannot access the funds they need in an emergency even if they can afford the repayments. If your current credit score reflects your financial past rather than your financial present, you will be able to find affordable loans for poor credit with our service.

How We Can Help with Affordable Loans for Poor Credit

At Viva Payday Loans, we do not lend money directly, instead, we show you from our panel of 15+ lenders who can. We are a lender-finder service that connects poor credit applicants with the right loans that help them when they need money fast. We have made the search for poor credit lenders as simple as possible; here are some of the ways we can help you today:

  • One Application, Many Options – by providing your details in our simple application, you are halfway to getting approved. Choose your lender and finish the process with them all through one application form.
  • Secure & Fast Process – your details are kept safe and secure when passed to the lender for a seamless experience that provides quick approval and pay out.
  • Same Day Cash – if approved, you could receive your funds within 60 minutes.
  • Flexible Repayments – you tell us the repayment term you want for the loan amount you need, and we will match you to the lenders who can help.

Benefits of Poor Credit Loans

Loans for poor credit can be beneficial for you in many ways when compared to other forms of credit such as a personal loan or credit card. Some of the benefits include:

  • No minimum credit score requirement
  • Cash paid to your bank account the same day
  • Instant approval process
  • Apps That Save Money Fast
  • Transparent terms to see how much the loan will cost
  • Quick solution to settle your short term financial position
  • An online process with no paperwork, only electronic documents
  • Authorised lender options

Finding affordable loans for poor credit is much simpler using our free to use platform, saving you time and effort when you need instant cash.

Please note, cash can be sent the same day by lenders and may be sent in 60 minutes if approved. This will also depend on if your bank accepts faster payments.

Are You Eligible for Loans for Poor Credit?

If you are ready to find poor credit loans online, you will need to check you are eligible first. Below are the minimum requirements needed to apply today:

  • Be aged 18 years or over
  • Be a current Australian citizen
  • Have a regular source of income
  • Have three to six months’ worth of bank statements available, so that lenders can offer a loan that fits in with your current financial position.
  • Be able to provide proof of your income, whether from employment, Centrelink, or other government benefits.
  • Be able to provide details of all existing liabilities, including credit card debt and any other outstanding loan obligations.
  • Have utility bills or other expense statements.

Meeting all the above does not guarantee approval for poor credit loans and the lender may credit check you and perform an affordability assessment first. We do not have control over the approval process of the lenders we connect you with, however, most of the 15+ lenders we can connect you with can help those with varying credit histories.

Apply Online & Find Loans for Poor Credit

To apply today and resolve your short term position, search for loans for poor credit by filling in our short application. The process is quick, and you will not require a check of your credit file to browse your options. Have any questions? Please contact us for more information or refer to our FAQs. If you do require financial advice in general, please visit MoneySmart for further help.

Loans for Poor Credit FAQs

Can I Get Loans for Poor Credit on the Same Day?

In many cases yes, you can receive the funds whether it is $200 or $2,000 on the same day if approved. This will depend on a few factors, however, so it is important to be aware of when this may take longer than 60 minutes. If your bank does not accept faster payments, this can delay how quickly you receive your new loan. Also, it depends on the time of day you apply, considering our online service can be used 24/7, 365 days a year. If approved on weekends, or outside of business hours, you may experience a delay, so please keep this in mind before applying.

Am I Required to Have a Guarantor for Poor Credit Loans?

The good factor about loans for poor credit is that you can apply for them without the need of adding a guarantor. You may find other lenders that will only offer loans to those with bad credit if they provide a suitable guarantor. This is because they want to guarantee the payments will be made no matter what happens. Each of the lenders we can connect you with can offer affordable loans for poor credit as a sole applicant if you have the proven ability to maintain repayments.

Do You Provide Consolidation Loans for Poor Credit?

Our poor credit loans are suitable for short term situations, so should not be used to consolidate existing debt. There are consolidation loans for poor credit applicants from lenders, but they are specifically for this purpose and not for covering a financial emergency or unexpected expense. Many people may also apply for personal loans for poor credit, but these also are not always available if you require a smaller loan amount under $1,000. As a quick, short term option, a poor credit loan can be ideal.