Applying for Loans with No Credit

Isn’t it a virtual given in the US lending market that to get a good loan you have to have a good credit score? And if you have no significant credit history at all, doesn’t that equal the same thing (or worse) as bad credit? Not necessarily! You can get good loans with no credit if you know where to look.

Don’t give up on getting approved for a loan or a credit card due to a lack of credit history. You have many options you may not even be aware of, but we at Bonsai Finance can help you located and evaluate your best offers with only a minimal amount of time and effort invested.

Can I Get Good Loans With No Credit History?

Where can I find loans with no credit required? That may sound like a trick question, but it’s not. There are many payday loans and personal installment loans available online that do not require a good credit score or any credit score at all for approval. These types of short term loans are provided by private lenders who are not constricted by the rules and regulations banks are often straight-jacketed with.

The fact is, everyone starts out with zero credit history on their record, and lenders understand that. They realize that just because you’ve never had much of a chance at taking out and repaying a loan, that doesn’t mean you are incapable of doing so.

And it’s the same way with those with poor credit scores. Many times, financial situation beyond their control overwhelmed them many years ago, but they are nonetheless responsible people who have every intention of making all their payments on time.