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How to get approval for a $10,000 loan even with bad credit

Rates and Fees verified correct on October 26th, 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 $2,000.

  • Loan Amount: $2,000
  • Loan Term: 9 weeks
  • 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 October 26th, 2016
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    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 are 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.

    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.
    MoneyMeLoans of between $200 and $10,000 are available with repayment terms of between one month and 3 year(s), depending on how much you borrow.You'll need to be over 18, an Australian resident and be currently employed. A good credit history will help your application.
    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.

    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.

    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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    Ask a Question

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    78 Responses to How to get approval for a $10,000 loan even with bad credit

    1. Default Gravatar
      linda | September 16, 2016

      i cant get a loan i have more than 20 inquiries on my credit report & my score is 406 who can help me witha $10,00 loan

      • Staff
        Elizabeth | September 20, 2016

        Hi Linda,

        I can’t recommend a specific lender to you, but the lenders on the page above offer loans up to $10,000 to people with bad credit. You can contact them to discuss your eligibility, but generally your income and current financial position will be taken into account.

        I hope this helps,


    2. Default Gravatar
      kyle | September 7, 2016

      I just went through a bankruptcy, just got a good job, and trying to jumps tart everything so I can do everything right this time. Is there a way I can get a $10,000 loan to help me with that?

      • Staff
        Anndy | September 7, 2016

        Hi Kyle,

        Thanks for your question.

        In the above page, you can check for lenders that offer bad credit loan for up to $10,000. Please note that these lenders require other eligibility criteria to apply such as income and asset requirement.

        To know more about the loan products that a particular lender offers, simply click the “More” button.


    3. Default Gravatar
      Sue | August 30, 2016

      I am on the DSP….would like a loan of $5000…the least interest the better..i have one tick against me in credit history…who would be the best lender who isn’t judgemental against pensioners…i have found that we get “looked” down on because we are a pensioner..cheers

      • Staff
        May | August 30, 2016

        Hi Sue,

        Thank you for your comment.

        There are actually lenders that accept personal loan applications from borrowers who are pensioners. Though the approval would still be on a case-by-case basis depending on the lender how they view your credit rating, ability to repay, etc.

        Please review the criteria and find more information from our guide on this page.

        Hope this helps.


    4. Default Gravatar
      Jesse | August 24, 2016

      Hi i need to borrow 10000 as to for 2 loans i got for my car bill please asap

      • Staff
        Elizabeth | August 24, 2016

        Hi Jesse,

        You can compare your $10,000 loan options on the page above. Click through to the review pages to confirm your eligibility for the loan and once you find a loan you are eligible for and want to apply for, click “Go to Site” to submit your application.

        I hope this helps,


    5. Default Gravatar
      Francis | August 18, 2016

      Need loan 8000 to pay off short term loans to much payments aweek

      • Staff
        Elizabeth | August 18, 2016

        Hi Francis,

        You can compare your loan options on the page above and click through to the review page to check fees and eligibility criteria. Once you’ve found a loan you want to apply for you can click “Go to Site” to submit your application.

        If you’re in need of financial advice you can also get in touch with the free financial counselling service on 1800 007 007.

        I hope this helps,


    6. Default Gravatar
      Sharon | August 16, 2016

      I would like to get a loan for a $15,000 I have $700,000 equity in my property

      • Staff
        Elizabeth | August 16, 2016

        Hi Sharon,

        The only lender on this page that offers loan amounts that high is Cashfirst. To be eligible for a loan you need to be over the age of 18, earn $20,000 p.a. and be employed. If you meet this criteria and are able to repay the loan you can submit your application directly on its website.

        I hope this helps,


    7. Default Gravatar
      Rhonda | August 9, 2016

      Why won’t anyone help me I’m trying to get bills off me

      • Staff
        Elizabeth | August 9, 2016

        Hi Rhonda,

        You’ve come through to, a financial comparison site and not a lender. You can compare your loan options on the page above to find a lender that’s suitable for you – if you’d like to see the eligibility criteria you can click through to the review page or the lender’s website. Once you find a loan you’d like to apply for, click “Go to Site” to submit your application.

        I hope this has helped,


    8. Default Gravatar
      Dean | July 13, 2016

      Hi, I have a amount under $3,000 from a $11,000 loan left to pay, and a small loan of $1,500 witch will be payed back via my Tax return.
      I’m needed a $10,000 Loan to abstain a reliable car witch a can get to and from work,

      Who would be my best bet to get $10,000


      • Staff
        Elizabeth | July 13, 2016

        Hi Dean,

        Unfortunately, I can’t recommend a specific lender to you as it really depends on various aspects of your personal situation (income, employment, assets, debts). However, you can find out the options for a loan up to $10,000 on the page above and see which one you might be eligible for (eligibility criteria is listed on review pages) and once you find a loan you are eligible for and what to apply for, you can click “Go to Site” to submit your application.

        I hope this helps,


    9. Default Gravatar
      Bui | June 30, 2016

      If I borrow $10,000, how much interest do I rack up til the day I die?

      • Staff
        Elizabeth | July 1, 2016

        Hi Bui,

        The amount the loan costs depend on the lender you’re approved with and the loan term. Lenders can’t charge an interest rate more than 48% p.a. which includes all fees and charges.

        I hope this helps,


    10. Default Gravatar
      LoLo | June 25, 2016

      Do you offer loans to pay off second mortgage debt settlements?

      • Staff
        Elizabeth | June 27, 2016

        Hi LoLo,

        You’ve come through to, a financial comparison service and not a lender. The lenders on the page above offer loans for a variety of purposes. When you apply you’ll need to list your loan purpose and your financial situation will be assessed.

        I hope this has helped,


    Ask a question