Guaranteed Approval Loans
At Dime Alley, we always do our best to offer guaranteed approval loans. Whilst we cannot confirm that every loan will be accepted, we work with over 50 lenders across the US and Canada and give improved options for people with bad credit scores and no credit checks. If you need to borrow $300, $500 or $1,000 today, we are here to offer an entirely online process from start to finish.
3-Steps for Guaranteed Loans
Applying through our online application form takes just 5 minutes and couldn’t be easier to do!
Once you pass the eligibility criteria, we make sure to match you up with a legitimate lender to suit your personal financial needs!
Once approved, you could receive your funds in as soon as one hour, and almost always within 24-hours!
What Are Guaranteed Approval Loans?
Guaranteed approval loans are a type of lending that promises approval to nearly every applicant, regardless of their credit history. The credit reference bureau Experian records that almost 48 million Americans have a poor credit score (with a FICO score of between 300-579) which could make getting access to loans difficult for many households.
Guaranteed approval loans therefore can be a lifeline for individuals with bad or no credit, offering a way of accessing the funds they need when traditional lenders might decline their applications.
Instead of evaluating your credit score and history, the lender relies on other factors, such as your income, employment status, and sometimes assets, to determine your eligibility. This can make them an option for borrowers with damaged credit or a limited credit history who need money now.
Does Dime Alley Offer Bad Credit Guaranteed Approval Loans?
We cannot offer loans with guaranteed approval with bad credit, but we can help to match your personal details and loan requirements with the lender who is most likely to approve you and offer you the most affordable rates.
At Dime Alley, we are delighted to offer a free solution where you can apply with multiple lenders at once, with no fees for using our service and no impact to your credit score either.
A loan can never be guaranteed and an individual will always need to show that they can afford to make their repayment on time by having a regular income, employment and a commitment to repaying their loan on time without falling into financial difficulty.
What is the Eligibility Criteria for Applying for a Guaranteed Loan?
You can apply for a bad credit loan with us as long as you meet these following four requirements:
- Are over 18 years of age.
- Have a social security number.
- Have American citizenship.
- Have a minimum monthly income of $800.
- Have a current account for us to deposit funds into.
- Are committed to repaying their loan on time.
Representative Example
Loan amount $500, rate of interest 292% (fixed), representative 171%APR, $546.225 after two weeks, $592.27 after 1 month and $773.95 after 3 months.
What Are The Advantages of Guaranteed Approval Loans?
- Accessibility: These loans may be more accessible to individuals with poor or no credit history, making them an option when other lenders might decline your application.
- Quick Access to Funds: The approval process for guaranteed approval loans is typically quick, allowing you to access fast cash, often within hours or even minutes.
- Potential for Rebuilding Credit: If managed responsibly, some of these loans may offer an opportunity to improve your credit score by making timely repayments.
What Are The Disadvantages of Guaranteed Approval Loans?
- High Interest Rates: Guaranteed approval loans often come with high-interest rates, making them more expensive compared to traditional loans.
- Short Repayment Terms: These loans frequently require repayment in a short timeframe, which can put pressure on your finances.
- Risk of Predatory Lending: Some lenders in this space may engage in predatory lending practices, leading borrowers into cycles of debt.
- Limited Loan Amounts: The loan amounts for guaranteed approval loans are usually smaller, which may not be sufficient for significant financial needs.
Does Dime Alley Offer Guaranteed Emergency Loans?
Whilst no loan comes with guaranteed approval, you can get approved for emergency loans even with bad credit, for things such as an unexpected medical or veterinary bill. You can borrow $600, $800 or even borrow $3000 to get back on your feet.
When you are searching for emergency same day loans, we appreciate that you will need cash quickly, so with an instant decision and fully online process, Dime Alley can approve your loan on the same day and sometimes, you can receive money to your bank account in just a few hours.
How To Get a Guaranteed Approval Loan?
If you want to apply for guaranteed loans online, Dime Alley offers a fully online application process, so you can apply from the comfort of your own home or if you are on the go, whether it is a mobile, desktop or tablet.
We ask for a few basic details which can be filled in under 5 minutes and you will receive a guaranteed loan with instant approval on the screen. If you have very bad credit, you may be offered loan alternatives such as those from credit unions or debt relief companies – but you will always receive a result that will aim to help you.
It is important to note that a loan is not always guaranteed when you apply. It is not as simple as applying and getting money into your account. The lender we match you with will need to check that you are eligible.
However, as a matching service, we will certainly be able to boost your chances of approval across a number of viable lenders.
Can I Get No Credit Check Loans with Guaranteed Approval?
It is possible to find guaranteed no credit check loans, provided that you find a product that uses collateral or assets to be approved, rather than credit scoring. There are products such as home loans, secured, car and title loans which require you to own a vehicle or property to be eligible and you can use its value to borrow money that you require.
Dime Alley often provides unsecured loans, such as payday and installment products, but we may suggest or recommend secured or collateral products which do not use credit checks to be eligible.
How Can I Maximize My Chances of a Guaranteed Loan Approval?
Have A Stable Income And Job
If you have a regular income and employment, it shows that money is always coming in and therefore should be practical to make monthly loan repayments. If you have been employed for several years, this really helps your application.
Have A Fair Or Good Credit Score
The better your credit score, the more likely you will be approved for a loan or credit. Of course, we can help those with bad credit, just as long as your score is improving and not getting worse and worse. It is quite easy to fall behind on payments, but if you are making a conscious effort to pay off debts and bills, this will be acknowledged by the lender.
Be Available
The lender may have some follow up questions and being ready to respond by email or phone can help get your loan approved fast. So once you apply, be patient and be willing to sit by the phone or laptop for a response. It certainly helps to apply during working hours of 9AM to 5PM on a weekday.
Give Accurate Information
It always helps lenders if you have accurate information, because they have sophisticated systems and will probably cross-check them. So whether it is your name, address, contact details or bank details, the more accurate the better – and less likely they will follow you up for information or think you are trying to trick them.
Considerations Before Applying for Guaranteed Approval Loans:
- Evaluate Your Financial Situation: Before pursuing a guaranteed approval loan, assess your financial needs and determine if there are alternatives that may offer more favorable terms.
- Compare Offers: Explore multiple lenders and loan options to find the best terms and interest rates. Look for transparency in terms of fees and repayment schedules.
- Repayment Plan: Develop a clear plan for repaying the loan to avoid defaulting, which can further damage your credit.
- Responsible Borrowing: Ensure that you can manage the loan responsibly to avoid falling into a cycle of debt. The Federal Trade Commission offers further advice on ways to get out of debt.
- Regulations and Laws: Be aware of the regulations governing such loans in your state to protect yourself from potentially predatory lenders.
Where Can I Get Guaranteed Approval Payday Loans?
A guaranteed loan is available from a number of competitive lenders, including payday loans, which are available in 37 US States including Florida, Nevada and Alabama.
Outside of these states such as New York or Illinois, we may offer other types of products including unsecured, personal loans, installment loans, poor credit and more.
What Alternatives Are There To Guaranteed Approval Loans?
- Traditional Personal Loans: If you have a fair or good credit score, you may qualify for traditional personal loans from banks, credit unions, or online loan lenders. These loans typically offer lower interest rates and more favorable terms compared to guaranteed approval loans.
- Secured Loans: If you have valuable assets like a car, jewelry, or savings, you can use them as collateral to secure a loan. Secured loans often come with more favorable interest rates than unsecured loans because they pose less risk to lenders.
- Borrowing from Family or Friends: Consider reaching out to family members or friends who may be willing to lend you money. Be sure to establish clear repayment terms to avoid straining relationships.
- Emergency Fund: Building and maintaining an emergency fund is one of the best ways to prepare for unexpected expenses without resorting to loans. Having a dedicated savings account can provide financial security during emergencies.
How To Avoid Guaranteed Approval Loan Scams:
Avoiding guaranteed approval loan scams is crucial to protect yourself from financial fraud and predatory lending practices. Here are some steps you can take to avoid falling victim to these scams:
- Research the Lender: Before applying for any loan, research the lender thoroughly. Check their website, read reviews, and verify their credentials. Legitimate lenders have a physical address and contact information.
- Beware of Unrealistic Promises: Scammers often make promises that are too good to be true, such as guaranteed approval with no credit check. Be skeptical of any offer that seems too easy or convenient.
- Check for Proper Licensing: Ensure that the lender is licensed to operate in your state. Lenders must comply with state regulations, and unlicensed lenders are more likely to be fraudulent.
- Understand the Loan Terms: Read and understand the terms and conditions of the loan. Pay attention to interest rates, fees, repayment terms, and any hidden costs. Legitimate lenders are transparent about their terms.
What People Say About Us
“Personal and friendly, they did what they said they would do, I was approved for a loan although I have bad credit. It was just a short term thing, but has helped me and my family.”
Merryl, Texas, September 2021
“I need a loan to pay back a friend and it was all very quick and easy to get a couple of hundred bucks which I repaid over a couple of weeks.”
Malik, California, December 2022
“I found the experience overall easy to use. I had to sign an agreement online and all the terms were there and very clear. I would do it again if I needed some money.”
Imani, Georgia, March 2021
More Frequently Asked Questions
How Much Can I Borrow With Dime Alley?
With Dime Alley, you could find guaranteed loans ranging from $100 to $35,000 – with the amount you can borrow based on factors like your monthly income, credit status and affordability.
Other things come into play too, including your residence (homeowners are often preferred), age and whether you have any other similar loans open too.
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Can I Get A Guaranteed Loan With Very Poor Credit?
With Dime Alley, all credit histories are accepted. This means that although no loans are fully guaranteed, you should still request a loan with us even if you have already been turned down by a bank because of bad credit.
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Is There a Price Cap On Guaranteed Loans?
Yes! Interest rate price caps exist on all the loans that our lenders offer, but the size of the cap ultimately depends on the state you live in.
In some states, such as Colorado and Nebraska, the cap is set at 36%, whereas in others, the cap can be much higher.
Price caps on loans are designed to prevent predatory lending.
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How Long Do I Have To Repay My Loan?
Customers can repay over 1 month to 60 months – this will depend on whether you opt for a payday option which is typically a short term loan of just a few weeks, or a longer installment loan to spread out your repayments.
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Can I Get A Loan If I Don't Have a Job?
Yes, it is possible to to get a loan if you don’t have a job. Note most lenders prefer borrowers with a steady income, some accept alternative sources of income like unemployment benefits or disability payments.
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Can I Get a Guaranteed Loan If I Am Unemployed?
Dime Alley will usually need to confirm the income and conduct a credit check for all our customers.
It is often quite hard to find a loan for people who are unemployed, however, you may be able to use some collateral that you own such as a car or home to borrow the money you need.
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Is Dime Alley a Direct Lender?
Dime Alley is a broker, meaning that if you’re approved, we do not provide the funds as a direct lender.
Instead, we connect you to a lender best suited to your situation from our trusted panel.
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Am I Charged a Fee For Using Dime Alley?
No! We will never charge fees for using our service.
Instead, we take a fee or commission from the lender if your application is approved and successful. The lenders will charge a daily or monthly interest if your loan is active and this will be presented to you in writing before you proceed.
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How Are Interest Rates Determined On My Loan?
Interest rates will be determined by your state laws and your chosen lender’s policies. Note that interest on bad credit loans or payday loans are usually higher than other types of loans.
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Can I Repay My Loan Early?
Most lenders allow early repayment, however make sure to communicate with your lender if you are wishing to make any changes to your repayment schedule. In some cases there may be fees involved.
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Editiorial Note
At Dime Alley, we understand that financial challenges can arise unexpectedly, and the need for access to funds is a common concern. While we provide information about various loan options and financial resources, we want to emphasize the importance of making informed decisions that align with your unique financial situation.
Before pursuing any financial solution, including guaranteed approval loans or the alternatives mentioned on this page, we encourage you to take time to assess your financial needs, budget, and long-term financial goals. Consider reaching out to qualified financial advisors or credit counselors who can provide personalized guidance based on your specific circumstances.
It’s essential to thoroughly review the terms and conditions of any loan or assistance program you’re considering. Understand the interest rates, fees, repayment terms, and potential impact on your credit score. Making responsible financial choices today can contribute to your financial stability and well-being in the future.
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