9
Best Bad Credit Loans For Veterans For 2026
Compare the Best Bad Credit Loans for Veterans
| COMPANY | FORBES ADVISOR RATING | MINIMUM CREDIT SCORE | APR RANGE | COMPARE RATES |
|---|---|---|---|---|
|
600
|
7.99% to 35.99%
|
Via Credible.com’s Website
| |
|
|
600
|
5.96% to 35.99%
|
Via Credible.com’s Website
| |
|
Does not disclose
|
6.99% to 27.19%
|
Via MoneyLion’s Website
| |
|
580
|
9.95% to 35.99%
|
Via Credible.com's Website
|
Best Bad Credit Loans for Veterans: A Closer Look
BEST OVERALL
LendingPoint
Minimum Credit Score
600
APR range
7.99% to 35.99%
with autopay
Loan amounts
$1,000 to $36,500
600
7.99% to 35.99%
with autopay
$1,000 to $36,500
LendingPoint is an online lender that offers personal loans to prospective borrowers in 48 states and Washington, D.C. Loan amounts range from $1,000 to $36,500, with repayment terms from two to six years, and you may receive funds as soon as the next business day. Maximum APRs are high and you may face an origination fee up to 10%, but LendingPoint imposes a low credit score requirement of just 600. Consider a LendingPoint personal loan if you have less-than-stellar credit but want to take advantage of the lender’s lengthy repayment terms.
- Funding as soon as the next business day
- Low credit score requirement
- No prepayment penalty
- Origination fee up to 10%
- Co-signers or joint loans not permitted
- Not available in Nevada or West Virginia
Eligibility:
- Minimum credit score. 600
- Minimum annual income. $35,000
- Co-signers. Not permitted
Customer service
After testing and evaluating LendingPoint’s customer service, we found it to be one of the most helpful and transparent lenders on our list after waiting only 46 seconds to be connected to a representative. The customer service representative we spoke with shared an in-depth perspective of their loan offers, including information about loan amounts, eligibility requirements, how interest rates are determined and prequalification.
LendingPoint’s team also disclosed late fees but didn’t confirm origination fees. While customer service didn’t share this information wasn’t, the lender discloses a fee of up to 10% on its website. LendingPoint was also one of few lenders that shared how they report payments to credit bureaus, which it typically does at the start of the month.
BEST FOR DEBT CONSOLIDATION
LendingClub
Loan amounts
$1,000 to $60,000
APR range
5.96% to 35.99%
Minimum Credit Score
600
$1,000 to $60,000
5.96% to 35.99%
600
LendingClub’s personal loan options are the most flexible on our list, with borrowing limits up to $60,000 and repayment terms 24 to 84 months. The lender specializes in debt consolidation and makes direct creditor payoff accessible to borrowers with bad credit. Notably, you’ll pay an origination fee between 0% to 8% of the total loan amount, and APRs are higher than those available from some competitors. Still, LendingClub’s personal loans can help you consolidate credit cards and other debts with a credit score of just 600.
- Low minimum APR compared to the alternatives ( 5.96%)
- Offers direct payment to creditors
- Offers a co-borrower option
- Live chat support is available
- Charges origination fees
- Higher maximum APR ( 35.99%)
- Lower maximum loan amount ( up to $60,000)
- No autopay discount available
Lender Details
Eligibility
- Minimum credit score: 600
- Co-signers/co-borrowers: Co-borrowers accepted
Funding Speed
Funding may occur within 24 hours.
BEST FOR FAST REPAYMENT
PNC Bank
Loan amounts
$1,000 to $35,000
APR range
6.99% to 27.19%
Rates may vary by ZIP code
Minimum Credit Score
Does not disclose
$1,000 to $35,000
6.99% to 27.19%
Rates may vary by ZIP code
Does not disclose
PNC Bank is an online and in-person lender that extends personal loans up to $35,000. While the lender does not disclose its minimum credit score, you can submit a joint application. APRs are competitive, but the lender is only available in 27 states, and you may need to sign your loan documents in person. Minimum repayment terms are shorter than available from other lenders and extend from just six months to five years. This makes PNC Bank a good choice if you want to reduce interest accrual by repaying your loan quickly.
- Non-customers can apply
- Customer support offered seven days a week
- Payment hardship assistance
- Not available in every state
- Payment flexibility not offered
- Low maximum borrowing amount
BEST FOR QUICK FUNDING
Avant
Loan amounts
$1,000 to $40,000
APR range
9.95% to 35.99%
Minimum Credit Score
580
$1,000 to $40,000
9.95% to 35.99%
580
Avant offers bad credit loans for veterans and other borrowers through a third-party bank. Loans are limited to between $1,000 to $40,000, and repayment terms range from two to five years. APRs range from 9.95% to 35.99%, and you’ll face an administrative fee of up to 9.99% of the loan amount, which further increases the cost of borrowing. Avant may deposit loan funds as soon as the next business day after approval, making it a great option if you have damaged or limited credit and need quick funding.
- Low minimum credit requirement of 580
- Funding as soon as the next business day
- Seven-day customer support available
- High minimum APR of 9.95%
- Administration fee up to 9.99%
- Doesn’t pay creditors directly
Tips for Comparing Loans for Veterans With Bad Credit
When comparing bad credit personal loans, it’s crucial to consider all available options. The best loan isn’t always the one with the lowest interest rate, and fees can greatly increase the cost of borrowing. These tips can help you find the best option for your financial situation:
- Prequalify. Before applying for any loan, it’s essential to know what offers are available and what terms you may qualify for. By prequalifying with multiple lenders, you can compare interest rates, fees and other factors that may impact your decision. This process is usually based on a soft credit check and won’t impact your credit score.
- Interest rates. High-interest loans can become costly in the long run, but it’s difficult to qualify for competitive rates with a low credit score. Personal loans typically come with rates between 6% and 36%, with the lowest rates reserved for the most creditworthy applicants.
- Hidden fees. Depending on the lender, you may face late payment fees, early payoff fees, origination fees and hidden costs that could significantly increase the cost of borrowing. It’s best to understand any fees before accepting a loan.
- Repayment flexibility. Some lenders offer flexible repayment options to help you manage your monthly payments. These options may include extra repayment features such as payment holidays or the ability to pay extra when your finances allow for it.
- Loan use. Lenders may have restrictions on how you can use loan funds. Ensure the loan you’re considering aligns with your needs, whether for debt consolidation, home repairs, emergency expenses or something else.
- Financial need. Be realistic about how much you need to borrow. In general, personal loans for bad credit range from $1,000 to $50,000. Borrowing more than necessary could lead to unnecessary debt.
- Impact on your credit score. Most lenders require a hard inquiry as part of the loan approval process. This will remain on your credit report for up to two years but only impact your score for up to one year.
- Improve your credit score. While bad credit loans for veterans can provide much-needed financial assistance, improving your credit score in the long run is essential. Increase your score by making on-time payments, keeping credit utilization low and monitoring your credit report regularly for errors.
Where To Get a Loan as a Veteran With Bad Credit
Several types of financial institutions offer loans for veterans with bad credit. These lenders understand veterans’ unique financial challenges and offer tailored loan solutions to fit their needs. Here are a few options:
- Traditional banks. Some of the best banks for personal loans offer personal loans for veterans with bad credit. These are best suited for veterans with an existing relationship with the bank who can negotiate better terms due to that relationship.
- Credit unions. Credit unions are not-for-profit organizations that often offer more competitive rates than traditional banks. Some credit unions offer membership exclusively to members of the military and military families.
- Online lenders. Online lenders often have less strict eligibility criteria and faster approval times than traditional banks. Online personal loans are best suited for veterans who need quick access to funds and are comfortable managing their loans online.
- Nonprofit organizations. Several nonprofit organizations offer personal loans or loan assistance to veterans. These might be a good option for veterans needing smaller loans and could benefit from the financial counseling these organizations typically offer.
How To Get a Personal Loan With Bad Credit as a Veteran
Obtaining a loan with bad credit can seem challenging, but there are steps you can take to secure the funding you need, even with less-than-perfect credit.
- Check your credit score. Before you apply for a loan, find your credit score and review your credit report. Free online tools allow you to check your credit score, and everyone is entitled to get a free credit report from each of the three main credit bureaus once per year.
- Explore available loan options. Research lenders that offer loans to veterans and other borrowers with bad credit. These may include traditional banks, credit unions, online lenders and nonprofit organizations. If you already have a relationship with a bank or lender, contact a loan officer to learn about your options. Compare interest rates, terms and eligibility requirements to find the loan that best suits your needs.
- Prepare your application. The loan application process varies by financial institution, but most require consumers to submit similar documentation. This may include proof of income, bank statements and a list of debts and monthly expenses. Having these documents ready can speed up the application process.
- Submit your application. Depending on the lender’s process, you can apply online, in person or over the phone. Keep an eye out for communications from the lender and follow up with additional information and documents as quickly as possible to keep the application process on track.
- Wait for approval. Approval times can vary. Some online lenders may give you an answer in minutes, while traditional banks can take a few days or even weeks. If the lender denies your application, ask for a reason. This information can help if you reapply.
- Finalize the loan. Once your loan is approved, review the terms and conditions carefully before finalizing the agreement. Ensure you understand the interest rate, repayment schedule and potential penalties for late or missed payments. Once you sign the agreement, you may receive funds within the same or next business day.
Alternatives to Bad Credit Loans for Veterans
If you’re a veteran with bad credit, it can be challenging to secure a loan. But don’t lose hope—there are alternatives that can help you navigate financial hardships, improve your credit score and secure a better financial future.
Secured Personal Loans
Payday Alternative Loans (PALs)
Co-signer Loans
Home Equity Loans or Lines of Credit
Grants and Financial Assistance Programs
Job Training and Career Counseling
Methodology
We reviewed six popular lenders based on 25 data points in the categories of loan cost, loan details, military-specific features, eligibility and accessibility, the application process, customer experience and customer satisfaction. We chose lenders that have a minimum credit score requirement of 600 or lower and ranked them based on the weighting assigned to each category:
- Loan cost. 31%
- Loan details. 18%
- Military-specific features. 15%
- Eligibility and accessibility. 10%
- Application process. 10%
- Customer experience. 8%
- Customer satisfaction. 8%
Within each category, we also considered several characteristics, including loan amounts, repayment terms, APR ranges and applicable fees. We also looked at whether each lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated each provider’s customer support tools, borrower perks and features that simplify the borrowing process—like prequalification and mobile apps.
Where appropriate, we awarded partial points depending on how well a lender met each criterion.
To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Loans Rating & Review Methodology.