What are Bad Credit Loans?At Green Leaf Loan Group, many of our direct lenders offer bad credit loans – so you can still get your hands on a quick cash loan despite bad credit!These are loans which are specifically tailored for people who have a bad credit history or less-than-perfect credit score. Having bad credit can make it far more difficult to find loans with affordable interest rates, however it is by no means a deal-breaker. At Green Leaf Loan Group, many of our direct lenders offer bad credit loans – so you can still get your hands on a quick cash loan!
Why is your credit score important?When deciding whether or not to offer you a loan, lenders will review your recent financial activity to determine the likelihood that you will repay the money you have borrowed. This means that if you have regularly missed credit repayments or gotten into debt, they will consider you more likely to do so again as compared to a person who has a good credit score. Loan applicants with a previous history of poor money management are considered a far bigger lending risk to loan companies. Luckily, people in this position are often still eligible for a bad credit loan!
Do you need a Bad Credit Loan?Carefully consider whether or not you need a bad credit loan. If you do, no problem! Green Leaf Loan Group can help.You should take some time to consider whether or not you will need a bad credit loan before starting your application. Being declined for a loan can add a negative mark to your credit score, so it is usually better to apply for a bad credit loan if you think your existing credit score may harm your chances of being accepted for an ordinary personal loan. If you have ever had trouble paying bills or managing your finances, you may find that your credit rating has been negatively affected. Answer the following questions to see if you might be suitable for a bad credit loan: • Do you have unpaid household bills such as internet or utility bills? • Have you been given a credit card or loan in the past and not met the repayments? • Do you have a CCJ (County Court Judgement) against your name? • Have you ever had debt problems, been in a debt management program or been declared bankrupt? • Have you been refused credit by lenders in the past few years? If you have answered YES to any of the above questions, your credit rating could affect your ability to be accepted for a short-term loan. However, thanks to the bad credit loans now on offer from many of our direct lenders, you should still be able to get access to the cash you need!
Do you have a thin credit profile? You might need a Bad Credit Loan!Many people don’t realize that even having no credit history at all can lead to your loan application being declined. This is because a limited credit profile might not provide enough evidence to lenders that you will keep up with your repayments. A thin credit profile can make it very difficult to get access to a loan when you need it, which is why bad credit loans can also be a great option for first time borrowers.
Why Choose a Bad Credit Loan with Green Leaf Loan GroupIf there is a bad credit loan for you, we will find it. Green Leaf Loan Group has your back.Having a poor credit history means lenders will view you as a high risk, consequently any bad credit loans that you are offered will probably have higher interest rates than ordinary loans – so the general advice is that you should shop around before accepting one. Searching for the best loan rates can be incredibly time-consuming and stressful, especially if you are burdened with the “bad credit” label – but now you can leave all the searching and comparison to us! At Green Leaf Loan Group, we search for bad credit loans from dozens of top UK lenders in seconds, saving you time, confusion and all the while maximizing your chances of getting a loan with decent interest rates! If there’s a bad credit loan for you, we’ll find it. Click Apply now to get started with our simple, online application form.
Bad Credit Loans can improve your credit score!Bad credit loans are not bad news! In fact, taking out a bad credit loan is actually one of the best ways to improve you credit score for the future, if you are able to make all the repayments. Successfully paying off a loan will show creditors that you have been able to manage your finances responsibly, which will help you rebuild your credit score! Here are some other top tips for improving your credit rating: 1. Make sure you are registered on the electoral roll. This demonstrates to lenders that you have a stable address, meaning that they will be able to find you if they need to. It is a quick and easy way to boost your credit rating. 2. Make sure you use credit agreements you have. Having a credit card which you never use does not demonstrate that you can responsibly manage repayments, if you don’t need the agreement, close it down. Otherwise, use the card for small purchases and pay the amount off in full each month – this will show that you can manage repayments and will gradually improve your credit score. 3. Don’t apply for loans with the best rates. You are unlikely to get them if your credit score needs work, and being declined for a loan will only be another negative mark on your credit score. So if you think you might have poor credit, apply for a bad credit loan to get access to the money you need and improve your credit rating!
How much can I borrow with a Bad Credit Loan?Green Leaf offers loans between £100 and £2500. However your loan amount will probably be affected by your credit score, so you may not always be offered a bad credit loan for the full amount you have requested. However, once you have proven you can pay off a small loan, you will likely be offered a greater amount next time you apply. Bad credit loans are a fantastic way to revitalize your credit score, consolidate minor debts and get some emergency cash in your pocket. Fill in our two minute, online form or go to our mobile application to see if you could qualify for a bad credit loan today!
The US Small Business AdministrationAccording to the US Small Business Administration (SBA), In a recent report, over 63% of business owners attempting to find funding say they most often targeted banks. Unfortunately, the success among these respondents of actually getting a business loan was a low 27%. Bad credit plagues a large percentage of small business owners as a result of the financial crisis several years back. The fact remains that it’s harder for smaller businesses – even with stellar credit ratings – to get traditional bank loans than it is for larger businesses. To read more about bad credit loans please click here to visit www.sba.gov
Disclaimer: Some lenders will not provide loans without a credit check, and loan approval is not a guarantee. You are under no obligation to accept the loan that you are offered by the lender that Green Leaf Loan Group matches you with.