First things first, you can not get loans without going through any form of credit check. As the demand from borrowers with low credit scores and unpleasant credit profiles, more and more online websites have started to advertise no-credit-check loans to attract customers. When you apply for loans without credit checks, likely you are getting a loan from lenders that will perform soft credit checks, and they will look into other related financial characteristics of your profile to determine whether to release the funds.
A soft credit check will not affect or appear on your credit report, and will not lower your credit score, while a hard credit check will lower your credit score and appear on your credit profile for at least a few years. With that said, no matter whether it is a soft or hard pull on your credit profile, lenders will perform credit checks when assessing your eligibility for a loan.
There are multiple ways you can borrow an online loan with no hard credit check. The best $500 loans with no credit checks are from iPaydayLoans. We also rounded up some other online platforms to get loans without hard credit pulls with ease. These online platforms will still accept your loan request even if you have a low credit score, but you will need to meet their minimum requirements in order to get your request approved.
Best Websites to Get a $500 Loan With No Credit Check
- iPaydayLoans. As our top recommendation, iPaydayLoans continuously work with reliable lenders to provide their customers with dependable payday loan services without the need for hard credit valuation.
- WeLoans. At WeLoans, you will find a variety of loan options with bad credit-friendly requirements and get your no-credit check loan request approved for up to $5,000.
- US Bad Credit Loans. As its name suggests, US Bad Credit Loans is an online lending broker that specializes in providing easy loan approval services for customers with bad credit, so that you won’t have to worry about going through hard credit checks and can get loans almost instantly.
Suppose you are not comfortable with using a completely online platform to apply for loan services, or you are looking for less risky options. In that case, there are indeed other alternatives where you can get a $500 loan easily without hard credit checks as well. Here are some of the most common ones:
- Friends and family. You can always ask your friends and family if they’re willing to lend you $500. This is usually the most accessible and cheapest option because you won’t have to pay any interest, but it can be quite awkward if you can’t make the repayments.
- Offline payday loan stores. You can easily find cash loan stores on the corner down the street you live at. These payday cash advance lenders are one of the most popular methods for people with bad credit to get $500 loans. The downside is that their interest rates can be very high, with APRs as high as 1000% in some cases.
- Credit unions. Credit unions are like banks, but they’re usually smaller and more community-focused. They tend to be more willing to give a $500 loan without doing a hard credit check. In fact, credit unions are becoming more popular among bad credit borrowers due to the easy requirements and fast funding features.
- Pawn shops. Pawn shops will give you a loan if you put something up as collateral, such as jewelry or electronics. Although the lender won’t release the full value of your collateral, at least you have some instant cash to handle urgent expenses. However, you could lose your possessions if you don’t repay the loan.