Are you a resident of Colorado with a less-than-perfect credit score? Don’t worry, you’re not alone. Many Coloradans face this challenge. But here’s the good news: Colorado lenders understand your situation and offer Personal loans for bad credit Colorado, designed for people with poor credit scores. These loans can be a lifeline in financial emergencies, a tool to consolidate debt, or cover unexpected expenses.
This blog will delve into 11 top personal loan options available in Colorado for individuals with bad credit. We’ll provide you with all the necessary details, loan terms, pros and cons, and loan amount ranges to help you make an informed decision.
11 Top Personal Loans For Bad Credit Colorado
Finding a personal loan with bad credit can be challenging, but excellent options are available in Colorado. Here are 11 top personal loans for those with bad credit, offering flexibility and competitive rates to meet your needs.
Beem
Beem is the top personal loan marketplace in Colorado, bringing multiple providers together in one place to offer the best loan options for your needs. With loans up to $100,000, competitive rates, and flexible terms, you can personalize your rates and terms according to your needs and preferences. Beem makes finding the perfect loan quick and easy.
| APR | Loan Term Duration | Pros | Cons |
| The APR goes to 5.99% and up depending on the loan amount and term. | It starts from 4 and go upto 144 months | Fast and easy application process.Access to multiple providers in one place.Competitive interest rates.Personalized loan tailored to your needs. | Higher rates for bad credit.Not all providers are available in every state. |
Avant
Avant is a personal loan company in Colorado that caters to individuals with bad credit. It offers loans from $2,000 to $35,000 with flexible repayment terms and provides fast, next-day funding.
| APR | Loan Term Duration | Pros | Cons | Loan Amount Range |
| APR ranges between 9.95% to 35.99%. | 12 to 60 months | No prepayment penalty.Check loan options without affecting credit score.Next-day funding. | Up to 9.99% administration fee.Late fees and dishonored payment fees.No co-signers or joint applications. | $2,000 to $35,000 |
Prosper
Prosperity is a great personal loan option. It offers peer-to-peer loans, fast funding, and joint applications. It’s ideal for those with a credit score of 560 or higher. Prosper stands out with its peer-to-peer lending model and the ability to apply with a joint applicant, making it a versatile option for many borrowers. However, consider the various fees and see if they are available in your state.
| APR | Loan Term Duration | Pros | Cons | Loan Amount Range |
| 8.99% to 35.99% | 24 to 60 months | Offers peer-to-peer loans.Providing fast funding.Permits joint applications. | Charges origination fee.Fees for check payments, late payments, and insufficient funds.Not available in all states | $2,000 to $50,000 |
Happy Money
Happy Money is a leading personal loan provider in Colorado for borrowers with low credit. It partners with ten federally insured financial institutions and offers loans with precise eligibility requirements and competitive APR rates.
| APR | Loan Term Duration | Pros | Cons | Loan Amount Range |
| 11.72% to 17.99% | 24 to 60 months | Partners with 10 federally insured lenders.Transparent eligibility requirements.No application fee. | Origination fee charged by lenders.Longer approval time as compared to others. | $5,000 to $40,000 |
LightStream
LightStream is known for offering some of the lowest APRs on the market, large loan amounts, and long payoff periods. It is an excellent option for borrowers with fair-to-good credit.
| APR | Loan Term Duration | Pros | Cons | Loan Amount Range |
| 7.49% to 25.99% | 24 to 84 months | Loans up to $100,000.Low APR range.No fees.Same-day funding is available.Co-applicants allowed | Minimum credit score of 660.Income requirement undisclosed.Requires SSN. | $5,000 to $100,000 |
Upgrade
Upgrade is a top choice for emergency loans due to its competitive interest rates, fast funding, and availability to borrowers with fair credit. It also excels in offering flexible repayment terms and secured loan options.
| APR | Loan Term Duration | Pros | Cons | Loan Amount Range |
| 8.49% to 35.99% | 24 to 84 months | Competitive interest rates.Fast funding.Flexible repayment terms.Secured loans are available. | Origination fees.Late payment fees. | $1,000 to $50,000 |
Best Egg
Best Egg offers personal loans tailored for individuals with various credit profiles. Known for its quick approval process and competitive rates, it’s a reliable option for borrowers in Colorado.
| APR | Loan Term Duration | Pros | Cons | Loan Amount Range |
| 8.99% to 35.99% | 36 to 60 months | Fast approval and funding.Competitive rates for qualified applicants. | An origination fee of up to 5.99%.Requires higher credit score for best rates. | $2,000 to $35,000 |
Reprise Financial
Reprise Financial offers personal loans with quick funding and flexible terms, making it a solid option for those looking to consolidate debt, reduce monthly payments, or cover various expenses. Reprise Financial provides a straightforward loan process with quick funding and fixed terms, ideal for those needing up to $25,000. However, applicants should meet specific qualifications and know state availability restrictions.
| APR | Loan Term Duration | Pros | Cons | Loan Amount Range |
| 9.99% to 36% | 3, 4, & 5 years | Get up to $25,000 as soon as tomorrow.Simplify finances with fixed rates and clear terms.No prepayment penalties.Easy online account management | Minimum credit score of 560.Self-employed applicants are not eligible.Not available in Iowa, West Virginia, Wisconsin, or the District of Columbia | Up to $25,000 |
Universal Credit
Universal Credit offers personal loans at competitive rates and with fast funding. It’s an excellent option for those looking to borrow up to $50,000, with flexible terms and valuable online management tools. Universal Credit stands out for its robust online management tools, making it suitable for borrowers with fair credit. However, it’s unavailable to self-employed individuals or residents of certain states.
| APR | Loan Term Duration | Pros | Cons | Loan Amount Range |
| 11.69% to 35.99% | 2 to 7 years | Fixed rates and payments with a clear payoff date.Fast funding as money is sent within a day after verification.Automatic payments and customizable due dates.Free credit score monitoring and educational tools. | Minimum credit score of 560.Self-employed applicants are not eligible.Not available in Iowa or the District of Columbia | Up to $50,000 |
OneMain Financial
OneMain Financial offers personal loans tailored for debt consolidation, significant expenses, and emergency costs. It’s a good option for individuals with poor to fair credit, providing flexible terms and quick funding. OneMain Financial is a viable choice for those with poor to fair credit who need fast access to funds. Its flexible terms and lack of early payoff penalties are beneficial, though borrowers should know the high origination fees and interest rates.
| APR | Loan Term Duration | Pros | Cons | Loan Amount Range |
| 18.00% to 35.99% | 24, 36, 48, 60 months | Approves applicants with bad or fair credit.No early payoff fees.Reasonable loan minimums ($1,500).Soft credit check pre-qualification.Fast ACH funding.Secured loan options are available.Flexible payment due dates.Can apply with a co-applicant | High origination fee.High interest rates.No autopay APR discount.No co-signers. | $1,500 to $20,000 |
OnDeck Capital
OnDeck Capital is an online lender specializing in business loans and lines of credit, particularly for small business owners with fair to low credit. It’s known for offering large borrowing amounts and fast funding. However, potential borrowers should be prepared for high interest rates and additional fees and verify that their industry qualifies for funding.
| APR | Loan Term Duration | Pros | Cons | Loan Amount Range |
| Starting at 27.30% | Varies by loan type | Fast funding.Large borrowing amounts.Fair to low credit accepted | High-interest rates.Origination and monthly maintenance fees.Funds not available for all industries. | Up to $100,000 (term loans) |
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Conclusion
Finding a personal loan with bad credit in Colorado is possible, and many excellent options are available. Among them, Beem stands out as the best in the city. With its fast and easy application process, access to multiple providers, competitive rates, and personalized loan matches, Beem offers unmatched convenience and flexibility. Whether you need a small amount or a larger loan up to $100,000, Beem ensures you find the right fit quickly. Trust Beem to provide the best loan solutions tailored to your needs, making it the top choice for personal loans in Colorado.
FAQs
How do bad credit installment loans in Colorado work?
Bad credit installment loans in Colorado are for individuals with poor credit scores. They provide a fixed loan amount you repay in regular installments over a set period, usually monthly. These loans often have higher interest rates but offer a way to access funds and rebuild credit.
What is the best personal loan lender for bad credit in Colorado?
Beem is considered the best personal loan lender for bad credit in Colorado. It offers a marketplace with multiple providers, competitive rates, a fast application process, and personalized loan matches, making it a top choice for borrowers with bad credit.
Which lender in Colorado has the lowest minimum credit score requirement for personal loans?
Avant is one of the lenders in Colorado with the lowest minimum credit score requirement, accepting applicants with a minimum credit score of 580. This makes it accessible for individuals with less-than-ideal credit histories.
