 TITLE: How Do Online Loans Work? CONTENT: Can I Get an Online Loan With Bad Credit?\n-----------------------------------------\nSome online lenders focus on lending to people who have bad credit or are new to credit. But even then, you may need a credit score in the mid-500s to low 600s, which could put you in the high end of the \"very poor\" to the \"fair\" credit score ranges.\nThe lower your score and income, the more difficult it may be to qualify for a loan. And, if you do get approved, you may receive a high interest rate (sometimes much higher than credit cards tend to charge) and low loan amount. Unless you need the money for an emergency, you may want to focus on improving your credit before taking out a loan. Check your credit score and credit report to see where your credit stands and where you can improve.\nYou could also look for less formal ways to get the money, such as a loan from a friend or family member or crowdfunding. Or, if you have a creditworthy close friend or relative, you could ask them to cosign a loan for you. END