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Personal Loan Of $136000 With A Fair FICO Credit Score Of 588

If you're looking for a personal loan with a fair credit score, we have a few options for you to review below. We have also listed personal loan options for bad credit scores as well. The loan provider listed below offers loans up to $25,000 with credit scores starting at 590. Bad credit loans start at 590 and below with a few lenders still considering loans with credit scores as low as 450. The loan amounts get a lot smaller when credit scores drop. As an example, a 588 to 619 credit score could get up to $25,000 if you have a solid work history. See below to go through all lenders for unsecured personal loans and secured personal loan options.

Personal Loan

An unsecured personal loan is a great solution if your credit score and credit history meet the criteria of the lender. We have listed personal loan providers with credit scores starting at 590. This lender group offers loans ranging from $1,000 to $100,000. When banks consider a 590 credit score a high risk, online lenders are happy to receive your loan application.

Business Loan Providers

Bad Credit Loans

A bad credit loan is a loan request with a credit score below 580. We have provided a list of lender that will accept your loan application below.

Bad Credit Auto Financing

If you are searching for an auto loan from $3,000 to $45,000, look no further.  This auto loan provider specializes in auto loans for any credit score. Give them a try today. Auto loans -- Bad Credit? No Credit? No Problem!

Auto Loans

Secured Auto Purchase and Refinance

LendingTree offers hundreds of auto lenders that will help you buy the new car or refinance your existing vehicle.  This can be a great way to get capital out of an asset. This provider can refinance your vehicle and get your capital back to you.

Co-Signing or Joint Signing

FreedomPlus specializes in co-signing with loans up to $40,000. If you are considering co-signing or asking someone to co-sign, we have provided information that explains the pros and cons of co-signing.

Secured Home Equity Loan Options

Home Equity Loan or Home Equity Line of Credit (HELOC)

A home equity loan or home equity line of credit (HELOC) provides an excellent way to consolidate debt even with bad to fair credit score. The home equity provider we have listed has consolidated over 1,500 companies to give you the greatest chance to qualify for a loan.  When you have good credit and the bank looks to provide a home equity loan or HELOC, they will normally finance the property up to 80-90% of the loan to value. The loan to value is the difference between the size of the mortgage and what you will get if you sold the property. With bad or fair credit, the loan to value may drop to as low as 60 to 70% and the interest rates may be higher. This will mean that the amount they are willing to lend will be lower.   

Free Credit Score Repair

Novita offers a free service credit score rebuilding program 

Auto Financing or Refinancing

If you are looking for a new car or need to refinance your existing car, LendingTree may be your solution.

Unsecured Payday Loan Debt Consolidation: $500 to $5,000

Consolidating payday loans with 400% to 1500% interest rates will save you money. OppLoans offer an installment loan which provides equal payments over a set period of time to get rid of payday loans.

Payday Alternative Loans (PAL's)
The Credit Union working alongside the US Federal Government has developed a program called Payday Alternative Loans (PAL's) to help people stuck in revolving payday loans. 

PAL's features:

Loan amounts $200 to $1,000.
Must be a credit union member for one month
Loan terms range from 1 to 6 months
There may be a fee for setting up the application of $20.00
Contact this link to get some help.

Casey contacted America loan service looking for $136,000 with a bad credit score of 588. We recommended that she try her bank first and if they were unsuccessful to try a business loan, there are a lot of options online today.    

Cassy and her sister Becky started a business in North Carolina selling clothing online throughout the USA. After a mountain of work to get the website to where they could launch, setting up access to clothing manufacturers and developing their product line, they needed more capital to rent a warehouse, hire a few staff and also wanted some working capital.

They were servicing their accounts from their parent's garage and were now at a point that they could no longer operate with so many orders and having staff working in the garage was causing issues with the parents.

Cassy and Becky applied for a personal loan and were not successful until they incorporated the business into the loan and secured the loan with the businesses revenues. While they got the loan from the local bank, they found better options after getting this loan with a traditional business loan provider than the banks.

Business Loan Providers

Cassy made an attempt to obtain a personal loan for $149,000.00 last year but was declined

Principle of LoanLength of Term (Years)Interest Rate (APR)Monthly Installment PaymentLending Institution
$149120.00 7 6.1% $2185.58 The Farmers Bank of Seaboard
$148690.00 4 11.1% $3850.2 The Bank of Raeford
$149130.00 7 7.4% $2280.04 The Bank of Coleridge
$149290.00 10 8.8% $1875.02 Farmers Bank of Sunbury
$149240.00 9 8.2% $1958.42 Bank of Pittsboro
$149180.00 4 6.6% $3544.68 First State Bank
$149430.00 3 7.8% $4668.82 Citizens National Bank of Concord

Cassy has a personal loan from years ago of $12,000 lent by First State Bank

Starting Interest Rate (APR)Remaining principleLender nameLender cityLender StateLoan Obtained
8.6% APR $11012.88 outstanding The Farmers Bank of Seaboard Seaboard North Carolina
8.3% APR $4823.7 outstanding The Bank of Raeford Raeford North Carolina
11.6% APR $10607.34 outstanding The Bank of Coleridge Ramseur North Carolina
8.4% APR $10280.66 outstanding Farmers Bank of Sunbury Sunbury North Carolina
8.0% APR $10828.16 outstanding Bank of Pittsboro Pittsboro North Carolina
9.1% APR $10698.6 outstanding First State Bank Winterville North Carolina

$136000.00 personal loan - Boone, North Carolina

Searching loans frequently change clients credit scores. Once accepted, clients experience changes to their credit. Cassy underwent numerous variations to their credit during the approval of this $136000 personal loan. Cassy had a starting credit score of 588.

  • On the Fico scale, Cassy had a 588 credit rating, a fair credit score
  • Cassy possessed a credit value on the Transunion scale of 573, which is looked upon by lenders as fair credit
  • On the Experian system, Cassy had a 605 credit rating, a fair credit score

Information on the loan provider called Watauga Savings and Loan Association, Inc. from Boone, North Carolina which provided the $136000 personal loan

  • Watauga Savings and Loan Association, Inc.
  • Street Address: 106 West King Street
  • Branch city: Boone
  • Branch state: North Carolina
  • Branch zip code: 28607
  • Branch County: Watauga

Cassy has an Equifax score of 588. This is a fair credit rating

Fico Score: 588

Cassy has a Transunion score of 573. This is a fair credit rating. Credit ratings like that of Cassy influence lender's decisions

Transunion Score: 573

Cassy had an Experian rating of 605, regarded as a fair credit score. These fair credit scores may hugely impact outcomes.

Experian Score: 605

Experian was changed due to this $136000 personal loan. Score change: 605 to 574

Striving for financing several times within a short amount of time will decrease a person's credit score. In the case of Cassy, Fico decreased from 605 to 574.

Cassy and Becky remarks after seeing Watauga Savings and Loan Association, Inc. at 106 West King Street:
We had applied for a personal loan and ended up with a business. loan. We used the revenues from the business to secure the loan and both of our personal guarantees and our Dad also came on as a co-signer. 

Cassy wanted a personal loan for $136,000.

North Carolina says hello via me, Cassy of Boone in Watauga County. We need a personal loan with fair credit. I am aware that individuals with fair credit like me have different experiences finding a personal loan, but please help regardless. I have a business with good revenues and we are new to funding a business, can you help us? We will consider a personal loan with interest rates as extreme as 10% if we have too.  Thank you, Cassy.

Borrower Information: Cassy
  • County: Watauga
  • Home State: North Carolina
  • Current zip code: 28615
  • Current income: Undisclosed
  • Profession: Online clothing business 
  • Credit Card Debt: $9000 on their Bass Pro Shops® Outdoor Rewards Platinum Plus® Visa® Credit Card

Repairing Credit Score for the Next Time

Cassy really struggled to get the funding she needed because her credit score was so poor. This forced her family to co-sign for them. We sent Cassy to Novita to get your financial life in order. Novita is a free online service helping people restore their credit. Check it out if you need help managing your finances.

While the articles highlighted are true, the names and some cities have been changed to protect our readers. America Loan Service would like your comments on our website. Please do not give America Loan Service your last name and try to keep the information in your testimonial quite nonspecific. It is the overall topic that people relate to and we appreciate your comments. When you send your story, it will be reviewed within 24 hours and you will be notified if they are published.

 

Past Applications

Application from: Janae S**

City: Detroit
State: MI - Michigan
Credit Rating (FICO): 588
Profession: Teacher
Amount Requested: $10000
Age: 28
Current Debt: Credit card
Yearly Income: Income Not Specified
Zip Code: 48238

Message:

Hi Janae,

Thanks for completing our online form. With a 588 credit score, you fall into the bad credit level and it is difficult to find any lender to help you. Do you have anything that you could use for collateral for a secured loan? This could help you in getting a loan. We do have one possible lender that may be able to help you and will email you that today.

Credit score Chart:

Excellent Credit Scores: Over 750 Good Credit Scores: 700 to 749 Fair Credit Scores: 650 to 699 Poor Credit Scores: 600 to 649 Bad Credit Scores: Less than 600

America Loan Service is not a lender. America Loan Service has no influence on the lenders decisions and the financial relationship will be between you and the institution providing the loan. We will forward your information onto the lender we feel best suits your requirements. They will contact you directly via email if they are able to help you based on the criteria you have provided. Wishing you success in finding what you are looking for. Best wishes America Loan Service team


Reply to: Janae S**


Application from: linda

City: houston
State: tx
Credit Rating (FICO): 588
Profession: nursing supervisor
Amount Requested: $5000
Age: 64
Current Debt: 40000
Yearly Income: 87000
Zip Code: 77095

Message:

We will forward this on for you, good Luck. We have a very good lender that fits the amount of capital you require with a Fico score of 588. America Loan Service is not a lender. America Loan Service has no influence on the lenders decisions and the financial relationship will be between you and the institution providing the loan. We will forward your information onto the lender we feel best suits your requirements. They will contact you directly via email if they are able to help you based on the criteria you have provided. Wishing you success in finding what you are looking for. Best wishes America Loan Service team


Reply to: linda


Application from: Ethel**

City: St. Louis
State: MO
Credit Rating (FICO): 588
Profession: Profession not given
Amount Requested: $3000
Age: Age not given
Current Debt: 40000
Yearly Income: 36000
Zip Code: 63110

Message:

Hi Ethel,

We will send you a few suggestions. Your credit score of 588 limits where we can help you find a loan.


Reply to: Ethel**


Application from: Esco

City: New Bremen
State: Ohio
Credit Rating (FICO): 710
Profession: traffic administrator
Amount Requested: $164000
Age: 54
Current Debt: 84,000
Yearly Income: 23,000
Zip Code: 45869

Message:

I earn $ 2209 a month. I own 1 visas and departement store cards. I am late in monthly payments. My FICO score isn't good. I need advice. would I qualify to get a loan? I am afraid I will have to go into bankruptcy?


Reply to: Esco


Application from: Ankur

City: Corpus Christi
State: Texas
Credit Rating (FICO): 757
Profession: city planning aide
Amount Requested: $87000
Age: 40
Current Debt: 8,000
Yearly Income: 44,000
Zip Code: 78411

Message:

credit score is fair. looking for a loan to get a car thanks for information


Reply to: Ankur


Application from: Lisa

City: Pensacola
State: Florida
Credit Rating (FICO): 588
Profession: Profession not given
Amount Requested: $2000
Age: 49
Current Debt: 21000
Yearly Income: 31000
Zip Code: 32507

Message:

Reply to: Lisa


Application from: Clarissa S*

City: HUDSON
State: NC
Credit Rating (FICO): 650
Profession: Profession not given
Amount Requested: $60079
Age: Age not given
Current Debt:
Yearly Income: Income Not Specified
Zip Code: 28638

Message:

Reply to: Clarissa S*


Application from: Beverly

City: Goldsboro
State: Maryland
Credit Rating (FICO): 588
Profession: Profession not given
Amount Requested: $10000
Age: Age not given
Current Debt: 10,000
Yearly Income: Income Not Specified
Zip Code: 21636

Message:

I need a personal loan.


Reply to: Beverly


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