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How to Get Approval for a $10,000 Loan Even with Bad Credit

Rates and Fees verified correct on May 27th, 2016

Want $10,000 in your account by the end of the day? This is what you need to do.

No matter what your credit history is like, and no matter what you need the money for – you can apply for and be approved for a $10,000 loan. There are lenders who offer these loans for people with adverse credit histories, as well as traditional lenders such as banks who offer $10,000 loans for personal and business purposes. Jump ahead to find out who might approve you >> .

How to take out a $10,000 loan today

If you’re looking for a $10,000 loan, there are lenders who offer a one-day turnaround time. This means that if you apply for a loan and it’s processed by a certain time, you can have the approved loan amount in your account on that same day. Applicants with bad credit can access these loans through non-traditional lenders, while those in better credit standing may be able to apply with their own bank for quick approval. You can find out more about some of these options below, as well as compare and apply. You can also compare bad credit loans up to $5,000 here.

Your short-term loan options

We're working hard to get you a range of bad credit loans for you to borrow up to $10,000. If you still need to borrow – it could be worthwhile comparing the loans below.

Sunshine Short Term Offer

Sunshine Short Term Offer

This is a short term loan offer with a fast and easy online application for bad credit borrowers who are employed. You can apply today to get approved for up to $1,800.

  • Loan Amount: $1,800
  • Loan Term: 16-30 days
  • Turnaround Time: 30 Minutes - conditions apply
  • Total Cost of Borrowing $100: 20% of borrowed amount + 4% of borrowed amount each month
  • Bad credit borrowers OK
  • Quick and easy Approval
  • No Credit Checks - Must be employed
    Rates last updated May 27th, 2016
    Max. Loan Amount Term of Loan Turnaround Time Total Cost of Borrowing $100
    Sunshine Short Term Loans
    Apply online with Sunshine Loans and you could borrow up to $1,200 paid directly into your account. Family Business since 1999.
    $1,800 16-30 days 30 Minutes - conditions apply 20% of loan amount + 4% of loan amount each month Go to site More
    Nimble Medium Loan
    Apply for up to $5,000 and get approved in 1 hour - conditions apply.
    $5,000 Up to 2 years 1 hour - conditions apply* Application fee of $400 + 39.20% APR Go to site More
    Nimble Short Term Loan
    Apply for a short term loan and you could borrow up to $2,000
    $2,000 16-365 days 1 hour - conditions apply* 20% of borrowed amount + 4% of borrowed amount each month Go to site More
    Cash Train Payday Loan
    Apply for a Cash Train loan and get up to $2,000 sent straight to your bank account
    $2,000 10 weeks or 3 months 1 Business Day 20% of loan principal + 4% monthly charge Go to site More
    Loan Ranger Cash Loans
    You could borrow up to $1,000 with Loan Ranger Cash
    $1,000 16-30 days Same Day - conditions apply 20% of principal amount (establishment fee) + 4% of principal amount per month. Go to site More
    Ferratum Cash Loans
    A small loan from Ferratum lets you borrow up to $1,000 without a credit check
    $1,000 16, 22 or 32 days Same Day if approved 20% of borrowed amount + 4% of borrowed amount each month Go to site More

    What are your loan options if you want to borrow $10,000?

    Bad credit or good credit, there are options available to you if you need to borrow a large amount of money. Loans up to $10,000 are available from both traditional and nontraditional lenders and can come in a variety of forms—secured, unsecured, short term, long term, or business loans. The first step to taking out a loan is understanding your options.

    If you have bad credit

    There are brands who offer loans up to $10,000 for people with bad credit. There are usually certain requirements you’ll need to meet and you may be required to secure the loan with an asset. Some lenders may also allow you to submit a joint application if you don’t meet the criteria, so find out about all the options you have to help your chances of being approved. The interest rate on these loans is usually set on an individual basis.

    If you have good credit

    You’ll most probably have more options available to you if you’re looking at borrowing $10,000 and you have good credit. You’ll likely be able to apply with a traditional lender such as a bank, and also enjoy lower rates and fees than if it were a bad credit loan. You may also find that your current bank offers same-day funding to existing customers. Depending on your income and other financial circumstances, you may be eligible for a secured or unsecured loan.

    If you’re willing to secure your loan

    Securing your loan with an asset may open up more loan options to you. Secured loans are less risky for lenders as they will be guaranteed to recoup their losses should you default on the loan. Because of this, these loans come with lending criteria that is more flexible than if the loan was unsecured. Typical assets used to secure a loan include a vehicle or equity in a property, but some lenders also allow for other things such as jewellery.

    If it’s for a business

    A $10,000 loan taken out for business purposes is very different to one taken out for personal use. Business loans usually come with higher maximum loan amounts, with some lenders able to approve loans of up to $500,000. These loans are generally available to both established businesses and startups.

    Calculate how much your repayments will be

    When borrowing a large amount of money, it's important to know whether or not you can afford the repayments. Use our handy calculator below to help.

    Brands you can consider for a bad credit loan up to $10,000

    LenderLoan detailsCriteria to considerFind out about products
    Max FinanceLoans of between $1,600 and $10,000 with a maximum repayment term of one year.You can apply if you have bad credit but you'll need to own an asset, such as a house or a car, and also meet certain income requirements.
    CashfirstLoans of between $1,000 and $15,000 with repayment terms up to 5 years.You'll need to be employed, over the age of 18 and be earning a minimum income of $20,000 p.a.
    Fair Go FinanceLoans up to $5,000 for a period up to 12 months. Interest rates start at 29.9% p.a.You'll need to be earning at least $500 a week and be 18 years old, a permanent Australian resident and in regular paid employment.

    If you have a few loan options, here’s how to compare them

    When considering what loan to apply for, it’s important to compare features of the loan to make sure you apply for a competitive option. Here are some things to look at:

      • Fees. What fees will you be charged with this loan? Remember to consider the ongoing fees as well as any charges you will have to pay at the onset.
      • Turnaround time. The time it takes to get your loan approved and for it to arrive into your bank account will differ between lenders. Make sure the lender you apply with can get your loan amount to you when you need it.
      • Repayments. How can you repay your loan? Are you able to repay the loan early without penalty? These are things you’ll need to check before you apply.

    Tips on being approved if you have bad credit

      • Review the eligibility criteria. Do this before you apply to make sure you are eligible. Look for things like minimum income, employment requirements, etc.
      • Submit all necessary documents. Check what documents are needed and make sure you are able to send everything that is required.
      • Consider a joint application or guarantor. This can help get your application across the line.
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    56 Responses to How to Get Approval for a $10,000 Loan Even with Bad Credit

    1. Default Gravatar
      steven | May 24, 2016

      i have a couple of existing small loans a bad credit rating looking for some one to help me get out of this rut

      • Staff
        Elizabeth | May 24, 2016

        Hi Steven,

        While you are able to apply for an additional loan to pay out your existing loans, you should keep in mind that lenders need to take additional steps to verify your financial situation if you have two or more payday loans or are taking out a payday loan to repay another loan. This is an ASIC requirement (find more details about this here).

        So, while you still may be approved it’s important to consider this before submitting your application. You should consider the eligibility criteria outlined by the lenders and if you are unsure about your eligibility it would be best to contact the lender directly.

        I hope this helps,


    2. Default Gravatar
      Keta | May 17, 2016

      Hi I need to borrow $10,000 within 10 days to pay rent so i wouldn’t get evicted, plus car note and bills, And i can do a debit direct deposit from my account of $500.00 a month to pay it off? Please I’m in desperate need of this money.

      • Staff
        Elizabeth | May 17, 2016

        Hi Keta,

        The options listed on the page above can be considered if you need a loan of up to $10,000. You can click through to the review pages to find out more information and when you’re ready to apply click “Go to Site” from there or head to the lender’s website directly. A quick turnaround time of one business day is usually on offer.

        Hope this helps,


    3. Default Gravatar
      jesus | April 29, 2016

      Hi I need to borrow 10000 to buy a car for my business what is the easiest way

      • Staff
        Elizabeth | May 2, 2016


        If you’re planning to use a personal loan and have bad credit you can consider your options on the page above. If you’d like to take out a business loan you can compare your options on this page.

        Hope this has helped,


    4. Default Gravatar
      R | April 28, 2016

      We have a large deposit coming on 5/30/2016. How can we get a $10,00 loan to pay back in 30 days.

      • Staff
        Elizabeth | April 29, 2016

        Hi RW,

        You can find options for loans up to $10,000 on the page above. You can click through to review pages to find out more information about these loans, including the eligibility criteria, and once you find a loan you’re eligible for and that you want to apply for, click “Go to Site” to submit your application.

        Hope this has helped,


    5. Default Gravatar
      | April 20, 2016

      i need money orgently so that please help me
      What can i do for the money

      • Staff
        Elizabeth | April 21, 2016

        Hi Rajib,

        We don’t offer any loans ourselves, so if you’re looking for finance you can compare your options on the table above and find a loan that you’re eligible for. You can click through to the lender’s review page or website to review the eligibility criteria and ensure you’re eligible, and if you are eligible and want to apply for the loan, you can submit your application.

        Hope this has helped,


    6. Default Gravatar
      Steve | April 14, 2016

      I have couple defaults and maybe poor rating who can I ask for $1000 to repair my car

      • Staff
        Elizabeth | April 15, 2016

        Hi Steve,

        I can’t recommend a specific lender to you but you can compare bad credit $1,000 loans on this page.

        Hope this will help,


    7. Default Gravatar
      Praveen | April 11, 2016

      Hi there,

      I have 3 pay day loans now. Once that finish, I wish to borrow $8000 to close my credit card (limit – $2000) and a personal loan of $6000. Would CashFirst will do a credit check? I am having too many credit applications on my file. But never been on bankrupt and works full time. Is there any chance for me to get that loan?


      • Staff
        Elizabeth | April 12, 2016

        Hi Praveen,

        Cashfirst do undertake a credit check, so please keep this in mind when submitting your application. The minimum application criteria is that you’re an Australian resident, have current employment and earn more than $20,000 per year. Cashfirst will look at your current financial situation when determining your ability to afford the loan.

        Hope this has helped,


    8. Default Gravatar
      Aimee | February 17, 2016

      Are these loans for people only in Australia?

      • Staff
        Elizabeth | February 17, 2016

        Hi Aimee,

        These lenders require that you be currently residing in Australia for you to apply. We also have a US-based page to compare loans if you are a US citizen.



    9. Default Gravatar
      | January 6, 2016

      hello im on a carers pension and wish to borrow $8000.00 its for a partnership visa with repayments of $500.00 per mth over a 12mth year period

      • Staff
        Elizabeth | January 6, 2016

        Hi Bruce,

        Thanks for your question.

        As you can see from the page above there are a few lenders you can consider. I’m unable to recommend any specific lenders to you but you can compare your lenders and check your eligibility above. Click through to the review pages by selecting the name of any lender you are interested in, and once you have found a loan you want to apply for and are eligible for you can click “Go to Site” to complete your application.

        I hope this has helped.



      • Default Gravatar
        kendrick | March 15, 2016

        How do you get approval

      • Staff
        Elizabeth | March 15, 2016

        Hi Kendrick,

        There’s no one surefire way to be approved for a loan, but by checking you meet the minimum eligibility criteria you can make sure you are eligible to submit your application. This criteria is listed on each review page on and also on each of the lender’s websites.

        I hope this has helped.



    10. Default Gravatar
      tammy | November 29, 2015

      what finance companies offer unsecured or secured personal loans with bad credit rating

      • Staff
        Elizabeth | November 30, 2015

        Hi Tammy,

        There is a list of lenders on the page above.

        Hope this has helped.



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