A score under 600 closes most doors. This loan opens one: approval is based on your income and your bank history, not a three-digit number, and every on-time payment is reported so the number starts moving the right way.
A credit score is a summary of the past. These five things tell us whether you can repay a loan now — and they're what our approval is actually based on.
$1,000+ from a job, benefits or self-employment
Pay stub or bank depositsSame source for 3+ months
We're not looking for perfect, just consistent90 days without repeated overdrafts
Read-only look at your statementsExisting loan and card payments vs. income
Payment must fit comfortablyAny prior Bears Lending loan repaid on time
Repeat customers get better tiersOld collections, medical debt, a bankruptcy over 12 months ago
Past problems don't decide this loanPayment history is the largest factor in a FICO score. A 12-month loan, paid on time, adds twelve positive entries — here's a typical path.
Soft inquiry only. Approval on income. Nothing negative added to your report at any point.
Each on-time payment is reported to all three bureaus. Early gains come from a new positive account in good standing.
Six consecutive on-time payments. Many borrowers cross 600 here and become eligible for our personal loan tier.
A closed account with a perfect record stays on your report for 10 years and keeps helping.
Bad credit loans use one rate band by state and term. There's no credit-score pricing — everyone approved gets the posted rate.
| Term | APR | $1,500 / mo | Total |
|---|---|---|---|
| 6 mo | 59% | $291.42 | $1,748.52 |
| 12 mo | 69% | $176.00 | $2,112.00 |
| 18 mo | 79% | $139.82 | $2,516.76 |
Maximum $3,000. Soft inquiry only. Same-day funding. On-time payments reported monthly.
| Term | APR | $1,500 / mo | Total |
|---|---|---|---|
| 6 mo | 59% | $291.42 | $1,748.52 |
| 12 mo | 69% | $176.00 | $2,112.00 |
| 18 mo | 79% | $139.82 | $2,516.76 |
Maximum $3,000. Same-day funding online or in store.
| Term | APR | $1,500 / mo | Total |
|---|---|---|---|
| 6 mo | 69% | $298.76 | $1,792.56 |
| 12 mo | 79% | $183.30 | $2,199.60 |
| 18 mo | 99% | $154.40 | $2,779.20 |
Maximum $3,000. Age 19+. Repayment plan available.
Bad credit loan APRs sit between installment loans and personal loans. As your score improves you can refinance into a lower tier — ask any store. Loans subject to approval, state law and your written agreement.
If you're unsure which side of 600 you're on, pre-qualify for the personal loan first: the soft check costs nothing and tells you.
The bad credit loan market has earned a reputation. Here's what's different about ours.
No licensed lender can guarantee approval — anyone who says so is selling your application. We approve about 8 in 10 applicants with verifiable income. The 2 we decline usually have a payment that wouldn't fit their budget.
A soft inquiry to apply, positive reporting every month. The only way this loan hurts your score is a missed payment — and we'll move a due date if you call first.
We see a lot of reports with medical collections, a repossession or a bankruptcy from a few years back. None of those decide this loan. What we need to see is current income and a bank account that isn't being overdrawn every week.
Both take any credit and fund the same day. The difference is reporting and rate.
| Feature | Bad credit loan | Installment loan |
|---|---|---|
| Amount | $500 – $3,000 | $500 – $5,000 |
| Term | 6 – 18 months | 3 – 24 months |
| APR | 59% – 99% | 89% – 149% |
| Credit check | Soft | Soft |
| Reported to bureaus | Yes, monthly | Yes, monthly |
| Best for | Rebuilding while borrowing | Larger amounts, longer terms |
| Funding | Same day | Same day |
If you qualify for both, the bad credit loan is cheaper up to $3,000. Above that, installment.
Every bank turned me down. Bears Lending approved me for a $1,500 bad credit loan based on my income, not my score, with only a soft credit check. Six on-time payments later my score is up 40 points.
Figured nobody would touch me. The Mobile store looked at my pay stubs and bank statements, not the bankruptcy. $2,000 over 12 months, and I've got a positive account reporting for the first time in years.
There's no minimum. Approval is based on income, income stability and bank account history. Our average approved score is around 560.
No licensed lender can guarantee approval. About 8 in 10 applicants with verifiable income are approved, usually within minutes.
No. We use a soft inquiry only. There is never a hard inquiry on a bad credit loan.
Yes — every on-time payment, every month, to all three bureaus. That's the point of the loan.
Yes, once the bankruptcy is discharged and at least 12 months old. Open bankruptcies can't be approved.
Call before the due date and we can move it once per loan. A missed payment is reported after 30 days, so the call matters. Details →
Yes. Once your score passes 600, ask to refinance the balance into a personal loan at 17.99–35.99% APR.
Soft credit check, same-day funding, and every on-time payment reported to help you rebuild.
Photo ID · SSN · proof of income ($1,000+/mo) · 90 days of bank history. Age 18+ (FL, GA) or 19+ (AL).
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