Ready Payday Loans a No Guarantor Loan Required
Ready Payday Loans offers quick financing for a variety of personal needs, with no co-signer or excellent credit required. Our partner lenders consider borrowers with bad credit and avoid setting unrealistic requirements.
Select a repayment plan that fits your situation by completing our online application form. Receive an approval decision in less than 1 hour.
What Is a No Guarantor Loan with Ready Payday Loans?
A loan without a guarantor is a financial option that doesn’t require a co-signer on your loan agreement. You are fully responsible for repaying the loan and handling any consequences of default.
Having a guarantor with strong credit and a stable income can make your application appear more trustworthy, improving approval chances with a less-than-ideal credit score, finding someone willing to share this responsibility can be inconvenient.
Fortunately, there are various no-guarantor loan options available to borrowers facing credit challenges.
Common No Guarantor Loan Options
Loans without a guarantor are available in different forms, with the most commonly used ones including:
Cash Advance Loans
A cash advance loan is a short-term loan, typically up to $1,000, that you must repay by your next paycheck. These loans are especially useful in emergencies due to their easy access, rapid approval process, and quick disbursement of funds.
You can usually receive approval in under an hour, with funds available within one business day. Poor credit won’t prevent you from qualifying as long as you have a stable income. However, these loans often come with high APRs, which can exceed 400%.
Ready Payday Loans recommends using caution when considering cash advance loans. Their high interest rates and short repayment periods can easily lead to a cycle of debt.
Installment Loans
Installment loans provide lump sum amounts that borrowers repay through equal monthly payments over 2 to 24 months. Ready Payday Loans offers installment loans ranging from $1,000 to $5,000, depending on your income and credit history. APRs typically range from 16% to 100%.
While installment loans offer greater flexibility and ease on your budget, they come with a higher total cost due to the longer loan term. Below is an example for a $1,000 loan at a 25% APR:
| Repayment Period | Monthly Payment | Total Interest Paid | Total Loan Cost |
| 12 months | $95.04 | $140.53 | $1,140.53 |
| 24 months | $53.37 | $280.92 | $1,280.92 |
Select a repayment term that suits your budget to avoid overpaying excessively.
Credit Cards
A credit card lets you borrow funds up to a set limit, offering a flexible solution for daily expenses or unexpected emergencies. The credit limit can reach up to $10,000, depending on your income.
How Credit Cards Work
A credit card allows you to borrow funds up to a set limit, providing a flexible solution for daily expenses or unexpected emergencies. Your credit limit can go up to $10,000, depending on your income.
Minimum Payment Option
Alternatively, you can pay only the minimum amount due based on your spending. If you choose this option, the remaining balance will accrue interest. Credit card APRs typically range from 18% to 30%.
Introductory 0%-APR Period
Some cards offer an introductory 0%-APR period lasting from 6 to 21 months. During this time, you only need to make the minimum payment, and the outstanding balance will not accrue interest. After the introductory period ends, an APR will apply to any remaining balance.
Advantages and Disadvantages of No Guarantor Loans
Consider the following pros and cons to determine if a no-guarantor loan is the right fit for you.
Advantages:
- You won’t risk damaging relationships with family or friends if you default on the loan.
- The faster application and funding process make no guarantor loans ideal for urgent financial needs.
- More options are available, as joint loans are a more specialized loan type.
- You won’t need to involve third parties in your financial matters.
Disadvantages:
- The maximum loan amount for no guarantor loans is typically lower.
- It may be harder to qualify for a loan if your credit isn’t perfect.
- Interest rates may be higher compared to loans with a co-signer.
When Is the Right Time to Apply for a Bad Credit Loan Without a Guarantor?
Benefits of No-Guarantor Loans
A no-guarantor loan is an excellent option for individuals with bad credit who need immediate financial assistance. Since no third parties are involved, lenders can process the loan application in as little as 1 hour.
Quick and Easy Application Process
Many lenders offering these loans do not perform traditional credit checks. Instead, they use a soft inquiry to assess your financial situation without impacting your credit score.
Increased Approval Chances
These benefits increase your chances of approval, even with bad credit. The loan process is expedited, making no-guarantor loans ideal for urgent financial needs. Whether you’re dealing with a medical emergency, car troubles, or an unexpected home repair, you can access the funds you need within just one business day.
It’s important to approach this option with caution. Before applying for a no guarantor loan, ask yourself the following questions:
- Is it truly necessary? Ensure that you genuinely need the loan, and avoid taking on unnecessary debt for temporary desires. If unsure, seek professional advice from a credit counselor—many offer free consultations.
- Are there other options available? Take time to explore all possible alternatives. Some options may be more affordable or offer more flexible repayment terms. Consider asking friends or family for a loan, selling unused items, or requesting a paycheck advance from your employer.
- What amount do I need to borrow? Determine the exact amount based on your current needs. Be realistic and avoid borrowing more than necessary to prevent overspending and unnecessary debt.
- Is the APR reasonable? The interest rate will directly affect the total cost of the loan. Compare the offered APR with the average rate for the loan type to ensure you’re being charged a fair price.
- What repayment term is right for me? Choose a loan term that allows for manageable monthly payments and a reasonable overall loan cost. While a longer term may lower monthly payments, it will increase the total interest paid over the life of the loan.
- Can I afford the loan? Ensure you can comfortably repay the loan. Late payments often result in additional fees and can harm your credit. Defaulting on the loan could lead to further financial difficulties and make it harder to secure loans in the future.
What Makes Ready Payday Loans a Smart Choice?
Ready Payday Loans simplifies the loan process, saving you time and effort when selecting the right loan. By partnering with trusted loan providers, we give you access to their services through just one online application form.
You won’t waste time researching lenders. We thoroughly evaluate each partner before adding them to our network, ensuring that you can easily find the right option with a few clicks. Here’s what we offer:
- Convenient loan process: Apply online from the comfort of your home in just 5 minutes, with no extensive paperwork or faxing needed.
- High approval rates: With multiple offers from various lenders, your chances of approval are increased.
- No hard credit checks: Loans through Ready Payday Loans do not require a credit inquiry from major credit bureaus, making the process fast and hassle-free, even with poor credit.
- Quick approval and funding: Get an approval decision within one hour. Once accepted, the funds will be deposited into your bank account within one business day.
- Customer-centric approach: We are committed to helping you find the best loan offer tailored to your unique needs.
- Safety and security: We use 2048-bit SSL encryption to secure your sensitive data and never share your application details with non-affiliated third parties.
Verify Your Eligibility
To be eligible for a no guarantor loan through Ready Payday Loans, you must meet these basic requirements:
- Be 18 years of age or older
- A US permanent resident or legal citizen
- Have an active bank account in your name
- Earn a minimum of $1,000 per month
Keep in mind that each lender may have specific requirements. They may also ask you to provide additional documents to verify the details of your application.
Simple Steps to Get a Loan through Ready Payday Loans
Ready Payday Loans offers an easy and quick application process that you can complete in just 5 minutes. Follow these 3 simple steps:
- Complete the online application: Answer a few basic questions and provide your personal and financial details needed for the loan decision.
- Receive a response: One of our lenders will assess your eligibility and send you the loan decision via email. If approved, carefully review the agreement and sign it if you agree with the terms.
- Get the funds: The money will be deposited into your bank account within 1 business day. Same-day funding is available for approvals before noon on weekdays.
5 Tips for Securing Better Loan Terms
Even with a less-than-perfect credit score, there are strategies you can use to get more favorable loan conditions without needing a co-signer. Here are five useful tips:
- Strengthen Your Credit Profile
Improving your credit score takes time, but consistent efforts can make a significant difference. Pay your bills on time, monitor your credit utilization, maintain older accounts, and avoid applying for new loans frequently. Additionally, regularly review your credit report for errors and dispute any inaccuracies. - Provide Proof of All Income Sources
If your credit score isn’t great, your income becomes more important in showing lenders that you can repay the loan. Provide detailed information about all your income sources, such as employment, government benefits, tax returns, and other regular cash inflows, to increase your chances of getting better terms. - Pre-Qualify with Multiple Lenders
Pre-qualifying with several lenders allows you to compare offers and find the best deal. Many lenders now offer pre-qualification without conducting a hard credit check, so you can explore options without impacting your credit score. - Offer Collateral
Instead of adding a co-signer, you can offer valuable assets as collateral. This reduces the lender’s risk and may result in lower interest rates, larger loan amounts, and more flexible repayment options. Keep in mind that if you default, the lender can seize the collateral to cover their losses. - Lower Your Debt
Lenders closely evaluate your debt-to-income (DTI) ratio when considering your application. A high DTI ratio indicates that a large portion of your income goes toward paying off existing debts, making you a higher risk. If your DTI is high, focus on paying off high-interest debts to demonstrate to lenders that you can manage your finances effectively.
FAQ
Is it possible to get a non-guarantor loan with bad credit?
Yes, Ready Payday Loans offers non-guarantor loans to borrowers with all types of credit. However, lenders will primarily focus on your ability to repay the loan, so you’ll need to demonstrate your financial stability to qualify.
Does Ready Payday Loans conduct a credit check?
Typically, loans from Ready Payday Loans involve a soft credit check that won’t affect your credit score. This check is used to confirm that you can repay the loan without putting undue pressure on your finances.
Will a No Guarantor Loan Impact My Credit Score?
A no guarantor loan can impact your credit score if you miss payments. Payments that are 30 days overdue will be reported and may lower your credit rating. If you apply with traditional lenders, a hard credit check could also cause a minor drop in your FICO score.
What is the Loan Amount I Can Get with Bad Credit?
The loan amount you can borrow depends on factors such as your income, the lender you approach, and the type of loan you select. With Ready Payday Loans, you could borrow anywhere from $100 to $5,000, as long as you demonstrate your ability to repay the loan.
How Quickly Will I Get My Money?
Loans from Ready Payday Loans are typically transferred by the next business day. If you accept a loan offer before noon on a weekday, you might even receive a same-day deposit.
What Should I Do If My Application Is Denied?
A poor credit history or insufficient income are the most common reasons for rejection. You can choose to apply for a smaller loan amount or try again at a later time. With multiple lenders in our network, your next application might be approved. Don’t worry, a rejection won’t affect your credit score.
Are Loans Without a Guarantor More Expensive?
Loans without a guarantor are typically more expensive than those with a co-signer, as they pose a higher risk to the lender. A cash advance loan may have an APR ranging from 200% to 600%, while installment loans typically range from 16% to 100%. Your credit score and income will also influence the cost of your loan.