Guaranteed Installment Loans for Bad Credit
- Borrow up to $5,000
- Apply online in minutes
- No collateral required
- Available for bad credit
- Get funded by a direct lender
- Guaranteed approval*
This guide explains:
- What “guaranteed approval” actually means
- How emergency installment loans work
- Pros and cons of installment loans
- Best alternatives to consider
- Smart tips to improve your credit score
What is a Guaranteed Installment Loan?
An installment loan is a financing option where you receive a fixed amount and repay it in equal monthly payments over a set contract period. At 1F Cash Advance, you can obtain a loan for any purpose, ranging from $500 to $5,000, with terms from 2 to 24 months. The amount, rate, and payment schedule are determined upfront and outlined before the agreement is signed.
While no loan can be guaranteed in advance, many applicants with a steady income and valid documentation are approved, regardless of their credit history. This makes installment loans a flexible option for those who need fast and predictable funding, even with past credit issues.
Common Uses
Emergency installment loans are often used to cover essential expenses that cannot be postponed. Common examples include:
- Unexpected medical or dental bills
- Car repair or replacement of critical vehicle parts
- Urgent home repairs, such as heater, plumbing, or electrical fixes
- Overdue rent or utility bills to prevent disconnection
- Family emergencies that require travel
- Debt consolidation into one monthly payment
Bad Credit? You May Still Qualify
1F Cash Advance does not require a minimum credit score. Eligibility is determined by proof of stable income. Applicants with freelance income, parental benefits, unemployment payments, or pension can qualify. Consistent cash flow is the main requirement for approval, regardless of previous credit history.
3 Steps to Get Your Loan
Applying for an installment loan with guaranteed approval at 1F Cash Advance takes just a few minutes. Here’s how it works:
Complete the online form
Enter your personal and income information. Attach the required documents for verification.
Apply NowGet instant approval
The system performs a soft check without impacting your credit. You’ll receive your offer and terms by email.
Receive your funds
Once you accept and sign the agreement, funds are deposited directly into your bank account, often the same day or by the next business day.*
*100% guaranteed approval is provided upon full compliance with all requirements. Funding times vary depending on the time and day of application. Applications submitted before 10:30 am local time are funded the same day. Anything submitted later, or on weekends or holidays, will be processed the next business day.
Eligibility Requirements
While no lender can truly guarantee approval, we specialize in helping borrowers with less-than-perfect credit get fast, reliable funding. Here’s what you’ll need:
- Proof of regular, verifiable income
- Valid government-issued photo ID
- Active checking or savings account
- U.S. residency or citizenship
- Minimum age of 18
- Working phone number and email address
- No recent bankruptcies or unpaid loans
Pros and Cons of Installment Loans
A personal installment loan can help you get quick cash to cover larger expenses, but it still comes with its own set of pros and cons.
Pros
- Convenient repayment schedule. You can choose a shorter or longer repayment period depending on your current needs, budget, and preferences.
- Predictable payments. You will always know how much and when you need to pay due to fixed APRs, making financial planning easier.
- Higher loan amounts. Installment loans come with borrowing limits that suit different purposes.
Cons
- More interest paid. A longer repayment period results in a higher total cost of the loan.
- Extra fees. Besides interest rates, you may be charged origination fees, late fees, or prepayment penalties, depending on your lender.
- Potentially high APRs. People with bad credit are likely to get higher interest rates, making their loans cost more.
Terms and Rates
Installment loans are available in amounts ranging from $500 to $5,000, with repayment periods of 2 to 24 months. You repay the loan in fixed, equal monthly installments, making it easy to plan your budget.
No credit check is performed. Your information is verified through alternative credit bureaus, and your income and documents are reviewed as part of the approval process. Loan terms and interest rates are determined individually based on your financial profile. If your credit history is poor, the interest rate may reach 36% or higher.
Below is an example table with typical rates and payment calculations:
| Amount | Term (months) | APR | Monthly Payment | Total Interest | Total Repayment |
|---|---|---|---|---|---|
| $1,000 | 6 | 18% | $175.53 | $53.15 | $1,053.15 |
| $2,500 | 12 | 24% | $236.4 | $336.79 | $2,836.79 |
| $4,000 | 18 | 28% | $274.69 | $944.45 | $4,944.45 |
| $5,000 | 24 | 36% | $295.24 | $2,085.69 | $7,085.69 |
Smart Ways to Improve Your Credit
While bad credit doesn’t automatically disqualify you from getting a loan, it’s wise to take several simple steps that will contribute to an increase in your FICO score. This will help you qualify for a higher amount, get lower APRs, and access loan products that are not available to people with poor credit. Here are a few steps you can take:
- Pay on time. Having a consistent history of on-time loan, credit card, mortgage, or rent payments can help you boost your credit score over time, while even one late payment can damage it.
- Keep your credit utilization low. Do not use more than 30% of your overall credit card limits. You can either pay down your debts or request a higher borrowing limit from a card issuer.
- Avoid submitting multiple loan applications at once. Loan requests typically trigger a hard credit check, especially if you apply from a traditional lender. Each inquiry through a major credit bureau lowers your credit score by up to 5 points.
- Take out a credit-builder loan. With a credit-builder loan, you make your payments upfront without receiving the loan amount. The lender keeps your payments in a savings account and allows you to access it only after the loan is repaid in full. This product is designed for those who want to build their credit from scratch, but it may also fit if you want to see a slight increase over time.
- Request a secured credit card. A secured credit card requires you to make a deposit that will be used as your credit limit. By showing responsible financial behavior while using this card, you increase your credit rating and can upgrade it into a regular credit card over time.
- Review your credit reports regularly. Errors can show up on your credit file for various reasons. Checking your reports regularly will help you spot and dispute them quickly.
Installment Loan Alternatives
If an emergency installment loan does not fit your situation for some reason, here are other options you can consider.
Personal Loans
A personal loan lets you borrow up to $50,000 for a period of 12 to 60 months, making it an ideal solution for long-term needs and major life projects. Interest rates usually range from 5.99% to 35.99%. While good credit is typically needed to qualify, some lenders may offer options for people with less-than-perfect scores. At 1F Cash Advance, you can get a personal loan of up to $10,000 with no minimum credit score requirements.
Payday Alternative Loans
Offered by credit unions, payday alternative loans (PALs) have the same installment structure while offering lower APRs capped at 28%. Loan amounts usually range from $100 to $2,000, and the repayment period can be from 1 to 12 months. To qualify, you need to be a credit union member, often for at least one month. Applicants with bad credit are considered, but a hard credit check is usually part of the underwriting process.
Credit Cards
If you need money for ongoing projects or those with uncertain final costs, a credit card can provide more flexibility. It allows you to borrow up to a specific limit and pay interest only on what you actually use. If you clear the balance by the end of the billing cycle (usually one month), no interest will apply. Some issuers also offer credit cards with 0% APR promotional periods. Just note that credit card APRs are usually higher compared to traditional loans.
Payday Loans
If you need a small amount of up to $1,000 to address a short-term money gap, a payday loan may suit you better. This option provides financing for 14 to 30 days without entailing long-term debt, allowing you to save money on interest. Just make sure you have a solid repayment plan, since short payback times, along with high APRs, can make payday loans difficult to manage.
Cash Advance Apps
Use a cash advance app if you need early access to a portion of your next paycheck. This tool can help you get from $50 to $200 (rarely $500) for up to 30 days, often without charging traditional interest. To receive a loan, you typically need to install the app, set up an account, and link your bank account to it. The app will automatically withdraw repayment when your next paycheck arrives. Extra fees for instant deposits or monthly access to services can apply.
Why 1F Cash Advance
At 1F Cash Advance, we focus on making emergency borrowing simple and stress-free, even if you’ve faced rejections from other lenders. Here’s what sets us apart:
Fast Secure Application
Online applications are available 24/7, take only minutes to complete, and your data stays protected.
Clear Upfront Information
All terms, fees, and payment details are presented clearly before you sign—no hidden costs.
Personal Support Any Time
You can contact us directly for quick answers or visit our locations for in-person help with your loan questions and applications.
FAQ
What’s the maximum borrowing limit for an installment loan?
You can borrow up to $5,000. The exact amount you qualify for will be determined after we review your personal information and will be clearly stated in your loan agreement.
How do installment loans for bad credit differ from payday loans?
Installment loans allow you to borrow up to $5,000 and repay in fixed monthly payments over 2 to 24 months. Payday loans are short-term loans, typically capped at $1,000, and in some states, the maximum amount may be even lower. Full repayment of a small loan is required on your next payday.
How can I boost my chances of getting approved?
Ensure all information is accurate and all required documents are submitted. Applicants with a stable, verifiable income and a complete application have a high chance of approval.
When will I have access to my funds after my application is approved?
Funds are available within 24 hours of approval. If you complete your application before 10:30 am local time, you may receive the money that same day. In-store applicants can also access cash immediately.
How does 1F Cash Advance protect my personal and financial information?
Your data is secured using advanced encryption technology and strict privacy standards. We do not share your information without your consent.
What happens if I am unable to make a payment on time?
Missed payments result in penalties specified in your loan agreement. Overdue accounts may eventually be sent to collectors, which hurts your credit history. Contact your lender if you experience difficulties with payment. Many are willing to accommodate by offering a deferment or extended terms.
What if I'm self-employed?
Self-employed individuals can still qualify if they can provide proof of steady income in the form of bank statements, tax returns, or 1099 forms. Please note that your income should be high enough to cover your loan payments aside from mandatory monthly expenses and current debt obligations, if any.
What is the difference between an installment loan and a line of credit?
With an installment loan, you receive the funds in one lump sum and make fixed monthly payments over a set period. Interest applies to the whole amount you borrow. A line of credit allows you to use money within a specific limit and pay interest only on the amount you borrow. Once repaid, you can use the funds again during the draw period. After this period ends, you start repaying the outstanding balance over a set term with no ability to borrow.