$2000 bad credit loans guaranteed approval

Writer and editor - Joseph Smith | Updated on 2020-05-27
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It might be difficult to get a $2,000 loan if you have bad credit. But it certainly isn’t impossible. Here’s what you need to know about getting $2000 bad credit loans with guaranteed approval.

Are there $2,000 bad credit loans with guaranteed approval?

Many lenders are unwilling to work with borrowers that have credit scores under 600. Fortunately, there are now several new lenders that have loan requirements that are more accommodating for people with bad credit. For instance, lenders that offer installment loans and signature loans are great choices if you need a $2,000 loan but have bad credit.

However, while it is possible to get a $2,000 bad credit loan, there is no lender than can guarantee the approval of your loan application. Even if you meet all of the lender’s requirements, there’s still no guarantee that your application will be approved.

If a lender declines your application, it’s not the end of the world. Simply apply to other lenders with less stringent requirements. Eventually, you’ll find one that approves your loan request, regardless of your credit history.

$2000 bad credit loans “guaranteed” approval alternatives

Loans Amount Cost / APR ? Bad Credit Features
QuickLoanLink (Personal loan) $300 - $35,000 APR:
Starting at 6.90% ?
Bad credit allowed
Allowed
  • Loan term 2 months to 7 years
  • Credit check type: Soft ?
  • Next-day deposit: In some cases ?
  • Min creditscore: 550
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
CashUSA
$500 - $10,000
Individual rates
Bad credit allowed
Allowed
  • Loan terms start at 3 months.
  • Next-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
HonestLoans
$400 - $5,000
$30 - $750 ?
Bad credit allowed
Allowed
  • Same-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
LifeLoans (Personal loan) $500 - $40,000 APR:
Starting at 5.99% ?
Bad credit allowed
Allowed
  • Loan term 2 months to 5 years
  • Credit check type: Both ?
  • Next-day deposit: In some cases ?
  • Min creditscore: 580
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
CreditLoan (Personal loan) $100 - $40,000 APR:
Starting at 5.34% ?
Bad credit allowed
Allowed
  • Loan term 2 months to 7 years
  • Same-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
OppLoans (Direct Lender)
(Personal loan)
$1,000 - $5,000 APR:
Starting at 99.00% ?
Bad credit allowed
Allowed
  • Loan term 9 months to 3 years
  • Next-day deposit: In some cases ?
  • Low approval rates ?
  • Time for decision: 1.5 min ?
GazelleLoans
$300 - $5,000
Individual rates
Bad credit allowed
Allowed
  • Same-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
RubikLoan
$100 - $1,000
$1,000 - $5,000
$15 - $300 ?
APR from 6.9% ?
Bad credit allowed
Allowed
  • Same-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
Personal Loans (Personal loan) $500 - $35,000 APR:
Starting at 5.99% ?
Bad credit allowed
Allowed
  • Loan term 3 months to 6 years
  • Credit check type: Soft ?
  • Next-day deposit: In some cases ?
  • Min creditscore: 580
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
BadCredit.com
$100 - $5,000
Individual rates
Bad credit allowed
Allowed
  • Next-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
OpenCashAdvance
$200 - $5,000
Individual rates
Bad credit allowed
Allowed
  • Same-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?

Requirements for a $2,000 bad credit loan?

You can get a $2,000 bad credit loan through an installment loan or signature loan. A signature loan is unsecured, meaning it requires no collateral. An installment loan, on the other hand, may be secured or unsecured.

Both loan types have similar requirements, which include:

  • Providing your full name, social security number, and proof of identity
  • Proof of a minimum monthly income of $800. Applicants with a minimum monthly income of $2,000 can access higher loans
  • At least 18 years of age. Applicants that are 21 or older can get even higher loan amounts

Every month for the duration of the loan, you will have to pay back a principal sum and interest. Because it’s a bad credit loan, the interest rate is typically higher than that of a regular personal loan.

Where can I get a $2,000 bad credit loan?

If you have bad credit with a score that’s below 600 it might be difficult trying to get personal loans. But there are various bad credit loans that can provide you with loan amounts of $2,000 and above.

You can access such loans through a direct lender or broker. If using a direct lender, it’s possible to get the loan faster and with fewer fees. That’s because there’s no middleman to pay for assistance or to complicate the loan processing.

That said, using a broker can be helpful if you have a bad score and want an expert that can put you in touch with lenders who are more likely to approve your loan.

Whether you are using a direct lender or broker to get an installment loan or signature loan, there are no guarantees of a no credit check.

A credit check is what a lender uses to verify the creditworthiness of loan applicants. While some lenders prefer traditional checks, such as hard and soft credit checks, other lenders use alternate credit checks, like verifying your monthly income.

Lenders that use hard credit checks will contact the credit bureaus for a report on your credit history. A lender that checks your credit history through a credit bureau is not in your favor if you have bad credit, also a hard check will reduce your credit score.

To avoid too much of a negative impact on your credit score, apply to lenders that use only a soft check for the pre-approval stage of your loan application. That way, applying to multiple lenders (who may decline your request) won’t affect your credit score. The lender will only need to run a hard check if you get a loan offer.

Better yet, seek out a lender whose criteria give more weight to verifying your income rather than your credit history. Such a lender is more likely to grant you a $2,000 loan in spite of your bad credit.

Regardless of whether you use a direct lender or a broker, no one can guarantee approval for a $2,000 bad credit loan. The trick to getting the loan amount you desire, even though you have bad credit, is to keep applying to different lenders with different loan requirements.

By diversifying your options, you’ll eventually find a lender who’s willing to work with you.
Many lenders can deliver same day loans or a next business day deposit to your bank account. Even though it’s possible, no lender can guarantee it. That’s because the time it takes to transfer and deposit loan amounts to your bank account can vary.

For instance, larger loan sums will require extensive manual verifications that may delay the process.

Advantages and disadvantages

Pros

Some advantages of $2,000 installment or signature loans are:

  • An unsecured loan removes the worry of losing your collateral, which in most cases is the borrower’s home
  • If you make your monthly repayments on time, it will improve your credit score
  • The APRs for installment and signature loans are lower than that of payday loans
  • You can get the exact loan amount you need
  • You can get the loan sum in your bank account quickly
  • You can gradually repay the loan over the entire term of the loan, which can be months or years
  • You can use the money for whatever you want

Cons

  • Applying to multiple lenders may be necessary before you find one that will give you a loan
  • Failure to make loan repayments on time will hurt your credit score
  • Bad credit loans have higher interest rates than regular personal loans

Summary – $2000 bad credit loans guaranteed approval

There are several lenders that are willing to provide loans of $2,000 and even larger bad credit loans up to $10,000 to people who have bad credit. You can get such a loan as an installment or signature loan and, once the loan is approved, get the funds deposited into your account quickly.

While no lender can guarantee your approval for a $2,000 bad credit loan, you can find one by applying to several lenders (as long as they have different requirements).

To ensure the loan you take doesn’t turn out to be a costly burden that you are unable to repay, be sure to understand the terms of the loan before accepting it. Failure to do so may result in accepting a loan with interest rates and fees that you can’t cope with. While personal loans usually have lower interest rates the possibility for getting one with bad credit is low compared to a installment or signature loan.

Let us help you find the best bad credit lenders in your area.

Joseph Smith

Joseph Smith
Writer and editor

Joseph Smith is an experienced freelance writer with over 11 years of experience. His area of expertise includes finance, loans and lending. His work has been featured on various large websites including this one.
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