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Get the Best $4,000 Loan Offer Today
A $4,000 loan is a small personal loan that can help you reach your financial goals if you use it wisely.
With its reasonable cost, affordable monthly payments, and an online application process, it can be a great alternative to using a credit card.
If you need someone to guide you through $4k personal loan lenders, we’re here to share our top picks with you. Compare terms and rates and find the best offer no matter your credit score.
Best $4,000 Personal Loans for Good and Bad Credit
- Be at least 18 years old
- Prove your US citizenship or permanent residence
- Provide your bank account information
- Show your monthly income by providing pay stubs, tax forms, or bank statements
- Provide an active email address and phone number
- Origination fees up to 12%
- $15 late fee
- $15 NSF fee
- Quick access to loan funds
- No prepayment penalties
- Flexible monthly payments
- Soft credit check when prequalifying
- Flexible loan amounts
- Origination fees up to 12%
- High maximum annual percentage rate
- Co-signers aren’t allowed
- Hard credit checks for final approval
- Limited repayment loan terms
Poor credit borrowers who can’t qualify for traditional personal loans
- Be at least 18 years old
- Prove your US citizenship or permanent residence
- Live in states the company operates in
- Provide your bank account information
- Show your monthly income by providing pay stubs, tax forms, or bank statements
- Provide an active email address and phone number
- No fees for loan processing, late payments or prepayment
- Quick access to loan funds
- No prepayment penalties
- No origination and late fees
- Flexible monthly payments
- Reports on-time payments to credit bureaus
- Borrowers with any credit can qualify
- High interest rates
- Small loans amounts
- Hard credit checks are performed
- Not available in all states
Poor credit borrowers who can’t qualify for traditional personal loans.
- Be a U.S. citizen, a permanent resident, or living in the U.S. on a valid visa
- Be at least 18 years old (19 in Alabama and some other states)
- Give a working email address
- Provide valid bank account details
- Confirm a sufficient monthly income to cover your loan payments
- Origination fees: 1.85% to 9.99%
- Late payment fees: $10
- Non-sufficient funds fees: $10 per payment returned
- No prepayment penalties
- Multiple rate discounts
- Next-day funding
- The due date may be changed
- Direct payments for debt consolidation
- APRs may be high
- Origination fees are charged
- Late fees may be applied
Fair-credit borrowers who need the money quickly
- Be a U.S. permanent resident
- Live in a qualifying area
- Be at least 18 years old
- Have a valid bank account
- Provide income confirmation (the income should be received via direct deposit)
- Origination fees: None
- Late payment fees: None
- Prepayment penalties: None
- Non-sufficient funds fees: May vary by state
- Accepts borrowers with damaged credit
- Same-day funding is possible
- No origination, late, or prepayment fees
- Soft credit checks only
- Convenient loan minimums
- Very high APRs
- Low maximum loan amounts
- Suspected of loan term misrepresentation
- Not available in all states
Bad credit borrowers looking for last-resort financing options
- Be at least 18 years old
- Prove your US citizenship or permanent residence
- Provide your bank account information
- Show your monthly income by providing pay stubs, tax forms, or bank statements
- Have fair credit (at least 640)
- Provide an active email address and phone number
- Origination fees of up to 9%
- $15 late fee
- $15 NSF fee
- Low annual percentage rate
- No prepayment penalties
- Wide range of available loan amounts
- Same-day funding under some circumstances
- Accessible for fair credit borrowers
- High origination fee (up to 9%)
- Hard credit checks when you select your loan to move forward
- No cosigners are allowed for joint loans
- It is not available in all states
- Limited repayment options set at either 36 or 60 months
Fair credit borrowers who need to cover various personal needs
- Be at least 18 years old
- Be a U.S. permanent resident
- Live in a qualifying area
- Have a valid bank or savings account
- Have a credit score of at least 550
- Provide income confirmation
- Origination fees: None
- Administration fees: 4.75%
- Late payment fees: May vary by state
- Prepayment penalties: None
- Dishonored payment fees: May vary by state
- Accepts borrowers with fair credit
- Next-day funding
- No prepayment fees
- Soft credit checks when pre-qualify
- Low minimum income requirement
- Convenient loan amounts and repayment terms
- Extra fees may be charged
- Relatively high maximum APRs
- No joint or secured loans
- Not available in all states
Borrowers with fair and good credit looking for fast loans
- At least 18 years also
- Permanent US resident
- Income confirmation
- Valid bank account or debit card
- Origination fees: 1% to 10%, or $25 to $500, depending on the state
- Late payment fees: $5 to $30, or 1.5% to 15% of your loan amount
- Non-sufficient funds fees: $10 to $50 per payment returned
- Joint and secured loans are available
- Wide range of loan options for low credit
- Pre-qualifying doesn’t affect your credit score
- Convenient options for debt consolidation
- Relatively high interest rates
- Charges origination fees
- APRs are not disclosed when pre-qualify
- Not available in all states
Borrowers with credit issues who want to avoid predatory lenders.
Where Can I Get a $4,000 Personal Loan?
The most common way to get a $4.000 personal loan is by applying via a bank, credit union, or online lender. While banks and credit unions provide more flexibility and offer competitive interest rates, they also have a certain minimum credit score requirement.
Online lenders offer multiple benefits over conventional financial institutions. These include a faster and easier application process, quick funding, and instant loan approval decisions. They also accept bad credit borrowers and tend to offer reasonable loan rates. Therefore, people with bad credit scores are more likely to choose online loan providers over traditional ones.
How to Get $4,000 Personal Loans?
Here are the application steps you should follow to get $4,000 personal loans:
- Review your credit report. You can request them from major credit bureaus for free once a year via the AnnualCreditReport.com. Then, you will be able to detect inaccuracies and fix them, if any. Also, knowing your current credit situation will give you an understanding of what offers you can get.
- Pre-qualify. If you want to get the best deal possible, shop around and compare offers. Pre-qualifying will help you find out what potential loan terms you can get. Don’t worry, it doesn’t affect your credit scores.
- Submit an application. Once you choose the best offer, complete a loan request form on the lender’s website or in a store. You should also provide supporting documents, such as proof of identity and income confirmation.
- Accept an offer. If approved, review your loan agreement terms and sign it if you’re fine with them.
- Get the funds. Loan amounts are typically deposited to a borrower’s bank account within 1 to 3 business days.
Monthly Payments for a $4,000 Personal Loan
Your accurate monthly payment for a $4,000 personal loan depends on your interest rate, fees, and the repayment period. Let’s take a look at the example below:
| Repayment Terms | APR | Monthly Payment |
|---|---|---|
| 12 months | 14.99% | $361.01 |
| 24 months | 17.89% | $199.48 |
| 60 months | 27.39% | $123.08 |
Keep in mind that the calculations are for informational purposes only. The exact APR you will get depends on your credit score, payment history, and other financial details.
Can I Get a $4,000 Loan with Bad Credit?
It’s still possible to get a $4,000 loan with bad credit, although it may be more challenging. Any financial institution wants to get its money back, so borrowers who are considered risky usually tend to get installment loans for bad credit with higher interest rates. Also, a lender may ask you to add collateral or a co-signer to your application. This way, it gets an additional repayment guarantee and will be more willing to lend money to you.
If you don’t have a good credit score, it’s recommended to deal with online lenders. This is because they are usually more tolerant of borrowers with credit issues.
How Do $4,000 Loans Work?
$4,000 loans allow you to get loan proceeds in one lump sum and repay them plus interest in fixed monthly installments within up to 7 years. They are usually unsecured loans, meaning that no collateral is needed to get one. However, there may be some exceptions for borrowers with low credit scores.
Most lenders perform hard credit checks to determine whether you’re a reliable borrower. Such a check can reduce your credit rating by a few points. If you make late loan payments or default, it can affect your credit history, too.
Benefits of $4,000 Loans
Is a $4,000 Loan Right for Me?
A $4,000 loan can be a good solution for you if you use the loan amount responsibly. For example, you can use it to pay off an expensive credit card debt or cover unexpected expenses that may otherwise lead to unpleasant consequences. It’s also important to pay attention to loan terms to make sure you don’t overpay too much and your monthly payment suits you.
How Much Does a $4,000 Loan Cost?
Your final $4,000 loan cost can be affected by the interest rate, extra fees, repayment terms, and your credit score. Also, each loan provider has its range of interest rates, so the loan cost may vary by lender, too. Typically, $4k loan interest rates are between 5.99% and 35.99%. However, some bad credit options may be even more expensive.
Let’s take a look at the example. Say that you want to take out a $4,000 loan for 60 months. A lender applies an annual percentage rate of 10.99%. This way, your total interest paid for the entire loan term will be $1,216.98. The total loan cost is $5,216.98. Your monthly payment amount will be $86.95.
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Reasons to Rely on BadCredify
At BadCredify, we strive to help borrowers make informed financial choices. We provide an independent opinion about online lending services based on market analysis, fact-checking, and personal experience. Our platform is a marketplace that allows you to access personalized loan offers from multiple loan providers and choose the best option for your needs with the help of our smart comparison tools.
When compiling a rating of lenders, we review offers from more than 40 loan providers and go through a pre-qualification procedure in order to ensure the simplicity and safety of the process and the transparency of the proposed conditions.
We evaluate each lender in accordance with the key loan parameters, such as the cost, repayment terms, eligibility requirements, and safety. We also study the experience of previous borrowers by reading customer reviews. After all, we choose the best lenders that meet our high standards.
FAQ
What minimum credit score should I have to get a $4,000 personal loan?
It depends solely on a lender. If you’re going to get an unsecured personal loan for $4,000 from a traditional loan provider, your credit score should be at least 670. Online lenders may either have lower requirements or don’t set any at all.
Can I get a $4,000 loan today?
Commonly, you will get a $4,000 loan within one business day after being approved. However, some lenders may offer same day loans with money transfers by the end of the day you apply.
How to get a $4,000 loan with no credit or bad credit?
Although an average personal loan lender will require you to have strong credit to qualify, some of them still allow you to get a $4,000 loan with no credit or bad credit. To improve your chances, add more income sources, bring a co-signer, or opt for secured loans for bad credit.
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