Money troubles can sometimes happen in Louisiana, where music and delicious food are everywhere. But guess what? Bad credit loans can be helpful like a friend, especially for people with not-so-great credit histories. These loans are like a safety net, giving you money when regular banks might say no. Bad credit loans in Louisiana are designed to provide financial support to individuals who may have struggled with credit. These loans offer a lifeline, allowing individuals to access much-needed funds for emergencies, debt consolidation, or essential purchases.
With options like Beem, Upstart, and Upgrade, borrowers have various options, each with unique features and benefits. Having bad credit might seem like a big problem, but these loans are like a new road to feeling more secure with money. They let you fix your credit and take control of your finances. Right in the middle of Louisiana’s lively culture and history, bad credit loans show everyone can have a fresh start and a better future. So, let’s explore the avenues of Beem, Upstart, and Upgrade – financial allies ready to help you dance through the challenges and embrace a brighter financial tune in Louisiana.
Best Bad Credit Loans Louisiana
Facing financial challenges with a less-than-perfect credit score can feel like sailing rough seas, but worry not – Louisiana offers a range of solutions to help you navigate these waters. In this blog, we’ll explore some of the best bad credit loans available in the state, designed to provide a lifeline for individuals seeking financial stability. Here are the best bad credit loans in Louisiana:
- Beem
- Upstart
- Upgrade
- Light Stream
- Axos Bank
- America First Credit Union
- LendingPoint
- BestEgg
- WestStar Credit Union
- Universal Credit
- Wells Fargo Home Mortgage
- One leading financial
- GadCapital
- Auto Credit Express
1. Beem
Beem, a speedy and versatile wallet app, provides personal loans within 60 seconds. With loan amounts up to $100,000 and flexible terms from 4 to 144 months, Beem offers an APR starting from 5.20%. Ideal for debt consolidation, major purchases, home improvements, or unexpected costs, Beem ensures quick financial assistance without impacting your credit score. The Everdraft™ feature allows instant access to up to $100,000 during emergencies, making it a reliable choice, especially for those with bad credit.
Interest Rates
Beem offers an interest rate starting from 5.20%. Ideal for debt consolidation.
Pros
- Quick loan approval in under a minute.
- Loan amounts up to $100,000.
- Flexible repayment terms from 4 to 144 months.
Testimonial
“Beem made getting a loan surprisingly simple and stress-free. The user-friendly interface allowed me to input my financial details effortlessly, and the platform guided me through every step. With Beem, there’s no more worrying about making errors or missing out on deductions. It’s a game-changer for quick and hassle-free financial assistance. Highly recommend!”
Contact Details
- Email: [email protected]
- Website Domain: https://trybeem.com/
- Address: 44 Montgomery St., San Francisco, CA 94104
2. Upstart
Established in 2012, Upstart, an innovative AI financing platform, has facilitated $20.8 billion in loans. It’s an excellent option for those in New York looking for personal loans while building credit and accepting even low credit scores. Upstart offers flexibility with a grace period before imposing late payment fees. However, it’s important to note that loan limits are capped at $50,000, making it more conservative than competitors.
Interest Rates
Upstart interest rate between 3.22%–35.99%.
Pros and Cons
Pros
- Quick fund disbursement.
- Low APR rates start from 3.22%.
- Preapproval with a soft credit check.
- No prepayment penalties.
Cons
- Higher APR rates can go up to 35.99%.
- Origination fees may apply.
- Late fees could be incurred.
- Loan limits are capped at $50,000.
Testimonial
“Upstart’s quick approval and low APR rates have been a lifesaver. The preapproval with a soft credit check made the process hassle-free. Highly recommend for those building credit with flexible terms.”
Contact Details
- Email: [email protected]
- Website Domain: https://upstart.com/
- Address: Upstart Operations Dept. P.O. Box 1503. San Carlos, CA 94070
3. Upgrade
Upgrade is a top choice for Louisiana’s best bad credit loans, particularly excelling in debt consolidation services. With an impressive A+ Better Business Bureau (BBB) rating, Upgrade has solidified its position since its inception in 2017, headquartered in San Francisco, California. Upgrade offers diverse features, offering borrowers an APR range of 5.94–35.47%, accommodating loan amounts from $1,000 to $50,000. With a minimum credit requirement of 560, Upgrade’s repayment terms span 36 to 60 months, ensuring flexibility. The platform’s prequalification option, featuring a soft credit check, allows users to explore rates without affecting their credit scores.
Interest Rates
Interest Rate between 5.94–35.47%
Pros and cons
Pros
- Prequalification is available with a soft credit check.
- Quick funding of loans, often on the same day.
- No early payment penalties.
- Option for direct payment to creditors.
- No minimum gross income requirement.
Cons
- Relatively high APR rates, ranging from 5.94% to 35.47%.
- Origination fees are charged.
- Upgrade doesn’t allow co-signers in the loan application process.
Testimonial
“Upgrade made getting a loan easy and quick. The pre-qualification process was smooth, and I got the funds the day I needed them. No early payment fees and direct payments to creditors made it a stress-free experience.”
Contact Details
- Email: [email protected]
- Website Domain: https://upgrade.com/
- Address: Not specified.
4. Light Stream
For the best bad credit loans in Louisiana, LightStream shines as a top choice. LightStream, founded in 2012 and headquartered in San Diego, California, provides attractive features for borrowers seeking large loan amounts and reasonable APR rates. With a focus on flexibility and cost-effectiveness, LightStream stands out for those with varying financial needs.
Interest Rates
Interest Rates between 4.49%–20.49%
Pros and cons
Pros
- Quick disbursement of funds.
- No origination fees.
- No early payment fees.
- High loan limits, up to $100,000.
- Flexible repayment terms, extending up to 84 months.
Cons
- High minimum credit score requirement of 660.
- Absence of a prequalification option.
- No option to pay third-party creditors directly.
Testimonial
“LightStream’s fast funding and no hidden fees made my experience great. Flexible repayment terms eased my stress. While the credit score requirement was high, the overall process was smooth.”
Contact Details
- Email: [email protected]
- Website Domain: https://lightstream.com/
- Address: LightStream, PO Box 117320, Atlanta, GA, 30368-7320, USA
5. Axos Bank
Axos Bank is a standout option for those in Louisiana seeking the best bad credit loans. With a distinctive fee structure ranging from 1-2% based on your credit rating, deducted upon loan receipt, Axos provides an efficient and flexible financial solution. Verifiable income and loan amounts between $7,000 and $50,000 are required for qualification. The process is swift, allowing you to pre-qualify in minutes, receive personalized options, complete your online application, and receive your money on the same day you accept the loan terms.
Interest Rates
Interest Rates between 1.79% – 20.84%
Pros and cons
Pros
- Unique fee structure based on credit rating (1-2%).
- Swift process with same-day funding.
- Flexible repayment terms (36-72 months).
- Personalized loan options.
Cons
- Require high credit score.
Testimonial
“Axos Bank made my loan experience hassle-free with quick processing and low fees. The same-day funding was a game-changer, and I highly recommend it for efficient and flexible financial solutions.”
Contact Details
- Email: [email protected]
- Website Domain: https://axosbank.com/
- Address: Axos Bank, P.O. Box 509127, San Diego, CA 92150-9727
6. America First Credit Union
America First Credit Union caters to individuals living, working, or engaged in eligible areas of the Western U.S. Noteworthy for low fees and interest-earning potential, their C.D.s and checking accounts stand out. Members only need to open a savings account to maintain membership and keep at least $1. The credit union presents a comprehensive range of deposit products, mobile banking services, loans, credit cards, and more.
Interest Rates
Interest Rate starting from 5.50%
Pros and cons
Pros
- Only $1 is needed to open and maintain a membership.
- No monthly fees.
- Unlimited transactions are allowed.
Cons
- Minimal APY.
- The account cannot be opened online.
Testimonial
“I appreciate the simplicity of America First Credit Union. The low fees and easy membership requirements make it a hassle-free banking choice. However, the online account opening would be a welcome addition.”
Contact Details
- Email: [email protected]
- Website Domain: https://www.americafirst.com/
- Address: 4646 S 1500 W Riverdale, UT 84405
7. LendingPoint
Based in Atlanta, LendingPoint extends its services to borrowers in 48 states, including Washington, D.C., offering personal and business financing. Even with fair credit, you can borrow between $2,000 and $36,500 through their personal loan product. Once sanctioned, funds can be in your account in as little as one day.
Interest Rates
Interest Rates between 7.99%-35.99%
Pros and cons
Pros
- Options are available for people with low credit scores.
- No prepayment penalties.
- Quick funding process.
Cons
- No joint loans are offered.
- High maximum APR.
- Origination fee applicable.
Testimonial
“LendingPoint gave me a chance when others wouldn’t. Quick funding and no prepayment penalties were a relief. However, the high APR is something to be mindful of. Overall, a positive experience.”
Contact Details
- Email: [email protected].
- Website Domain: https://www.lendingpoint.com/
- Address: Box 1200, Minneapolis, MN 55480
8. BestEgg
BestEgg is an online lending platform providing unsecured and secured personal loans through Cross River Bank and Blue Ridge Bank. Borrowers can choose loans ranging from $2,000 to $50,000, with services like Direct Pay for credit card consolidation. However, BestEgg comes with up to 8.99% origination fees, lacking some additional features.
Interest Rates
Interest Rates up to 35.99%
Pros and cons
Pros
- Loans start at just $2,000 in most states.
- Direct payment option for credit card debt consolidation.
- Available for a wide range of uses.
Cons
- Annual percentage rates (APRs) can go up to 35.99%.
- Charges origination fees between 0.99% and 5.99% of the loan amount.
- The website needs more clarity on loan amounts, terms, and rates.
Testimonial
“BestEgg’s loan options are flexible, and the Direct Pay for credit card consolidation is helpful. However, the high APRs and unclear loan details on the website can be confusing.”
Contact Details
- Email: [email protected]
- Website Domain: https://www.bestegg.com/
- Address: Best Egg, P.O. Box 42912, Philadelphia, PA, 19101
9. WestStar Credit Union
WestStar Credit Union, an NCUA-insured institution in Las Vegas, NV, has been serving since 1975 with approximately $245.98 million in assets. With no annual fee and a low introductory rate for the first six months, WestStar offers competitive ongoing APR rates and a 25-day interest-free grace period on purchases.
Interest Rates
Interest Rates between 12.99% and 18.00%
Pros and cons
Pros
- 24-hour toll-free live customer assistance is available.
- Online account information is accessible 24/7.
- Rental car collision damage waiver protection and Mastercard® benefits.
- Exact APR for purchases and cash advances, without higher rates for cash advances.
Cons
- No specific cons were mentioned.
Testimonial
“WestStar Credit Union’s customer service is exceptional. The 24-hour assistance and online account access make managing my finances easy and convenient. The same APR for purchases and cash advances is a great feature.”
Contact Details
- Email: Not specified.
- Website Domain: https://www.weststar.org/
- Address: PO BOX 94138, Las Vegas, NV 89193-4138
10. Universal Credit
Universal Credit, a San Francisco-based fintech company powered by Upgrade, Inc., has funded $24 billion in loans since 2017, serving over 2.5 million customers nationwide. With loan amounts varying from $1,000 to $50,000 and APR rates from 11.69% to 35.99%, Universal Credit offers borrowers the option to send payments directly to creditors, simplifying the debt consolidation process. Borrowers opting for this feature receive an additional rate discount, leading to more significant savings.
Interest Rates
Interest Rates between 11.69%-35.99%
Pros and cons
Pros
- Low minimum credit score requirement.
- Quick application process.
- Option for direct payment to creditors.
Cons
- High starting APR rates.
- A hefty origination fee may apply.
- Limited repayment options are available.
Testimonial
“Universal Credit helped me consolidate my debt efficiently. The direct payment to creditors saved me time and hassle. Although the APR was initially high, the rate discount savings were significant.”
Contact Details
- Email: Not specified.
- Website Domain: https://www.universal-credit.com/
- Address: Louisiana Department of Insurance P.O. Box 94214. Baton Rouge, LA 70804
11. Wells Fargo Home Mortgage
Wells Fargo Home Mortgage, a part of the Wells Fargo bank, was the nation’s fourth-largest home loan originator in 2022. While they have scaled back their mortgage business, they still focus on serving borrowers with existing bank accounts. They offer home loans for various needs, such as home purchases, new builds, investment properties, and refinancing. The time from mortgage application to closing can range from 30 to 90 days, and highly qualified borrowers may receive a PriorityBuyer preapproval letter online.
Interest Rates
No specification for Interest Rates
Pros and cons
Pros
- Displays mortgage rates online.
- Massive branch network.
- Considers non-traditional credit references in the application process.
- Offers low-down payment options for lower-income borrowers.
Cons
- Dialed back its mortgage offerings.
- No longer provides home equity lines of credit (HELOCs).
- Below-average customer satisfaction scores and negative past customer reviews.
Testimonial
“Wells Fargo made my home loan process smooth. The online rates were helpful, and the branch network provided convenient access. However, their customer satisfaction could be better.”
Contact Details
- Email: [email protected]
- Website Domain: https://www.wellsfargo.com/
- Address: Wells Fargo Home Mortgage P.O. Box 10335. Des Moines, IA 50306-0335.
12. OneMain Financial
OneMain Financial is a personal loan lender with branches in 44 states, providing loans even to applicants with bad credit. While they offer loan amounts ranging from $1,500 to $20,000 in most states, specific state limits may apply. OneMain Financial focuses on low-credit borrowers, evaluating the entire credit and income history rather than just the credit score. However, it’s essential to note that their loan rates start around 18%, higher than average.
Interest Rates
Interest Rates were between 18.00% to 35.99%
Pros and cons
Pros
- Tailored for low-credit borrowers.
- Offers secured loan options.
- Evaluate the entire credit and income history.
Cons
- Limits loans up to $20,000.
- Not for business purposes.
- Higher-than-average APRs.
Testimonial
“OneMain Financial gave me a chance when others wouldn’t. While the rates are higher, their focus on my credit and income history made the process easier. Great option for rebuilding credit.”
Contact Details
- Email: [email protected]
- Website Domain: https://www.onemainfinancial.com/
- Address: 601 Northwest Second Street. Suite 300. Evansville, IN 47708. The USA.
13. GadCapital
GadCapital is a commercial loan marketplace facilitating loans for small and mid-sized businesses (SMBs) and large corporations. With a network of over 4,000 lenders, they offer over 12,000 business lending products, ranging from $5,000 to $20 million. The company collaborates with traditional and alternative lenders, emphasizing small and community banks.
Interest Rates
Interest Rates are between 5%-15%
Pros and cons
Pros
- Easy application process.
- Fast access to emergency funds.
- Flexible approval criteria.
Cons
- High credit score requirement.
Testimonial
“GadCapital made the loan process easy, and I got the funds quickly in an emergency. However, the credit score requirement can be challenging. Overall, a reliable source for business loans.”
14. Auto Credit Express
Auto Credit Express provides car financing solutions for individuals facing challenges such as bad credit, limited credit history, or previous bankruptcy. This lender marketplace is a valuable resource for drivers with poor credit, those without credit, or those denied loans. Their mission is to assist drivers in securing loans from reputable dealers, even with less-than-perfect credit. Auto Credit Express collaborates with over 4,000 dealers nationwide, offering tailored solutions for new car purchases, used car acquisitions, and refinancing options.
Interest Rates
Interest Rates start from 5.14%
Pros and cons
Pros
- Specializes in bad credit loans.
- Encourages the use of co-signers.
- Low monthly income requirement for eligibility.
Cons
- Limited vehicle inventory selection.
- Lack of transparency about interest rates.
- Limited customer support options.
Testimonial
“Auto Credit Express helped me get the car I needed despite my bad credit history. With their low-income requirement and co-signer option, I was able to secure a loan hassle-free.”
Contact Details
- Email: first_initial [email protected]
- Website Domain: https://www.autocreditexpress.com/
- Address: 3252 University Drive, Suite 250, Auburn Hills, MI 48326
Read Related Blog: Best Bad Credit Loans 2024
Conclusion
In Louisiana’s money world, these lenders are like storytellers sharing tales of hope and help for folks with money troubles. Each lender is like an exceptional storyteller, adding their unique part to the story, creating a picture of possibilities for people who want to fix their money situations.
But, as you look at all these bad credit loans in Louisiana, think about what you need. Take a moment to figure out what you want to do with your money. Beem is quick to help, Upstart has fantastic ideas, and Upgrade is there when you need support. Each is like a unique puzzle piece to make your money story better.
These options aren’t just about a better money future; they give you a real chance to improve things. So, think of these lenders as your buddies, ready to join you on your journey to a safer and more prosperous money future.
