Can you get a loan without credit?

Yes, it is possible to get a loan with no credit if you apply for a secured personal loan, no credit check loan, payday loan or pawn shop loan. You can also ask a friend or family member to lend you money, or get a cosigner to help you qualify for an unsecured personal loan. Some no credit loans are a lot better and safer than others, though.

6 Ways to Get a Loan Without Credit

Secured personal loans

Secured personal loans require you to provide collateral to the lender, which secures the loan. The lender can keep the collateral if you cannot repay the loan. Secured personal loans often have lower interest rates than unsecured personal loans, though.

No credit check loans

No credit check loans are some of the easiest loans to get. They're easy to qualify for because they do not do a hard inquiry into your credit history.

Payday loans

Payday loans may be advertised to people without credit but are predatory. They only offer a few hundred dollars and often have fees equivalent to an APR of 400%+.

Pawn shop loans

Pawn shop loans allow you to sell an item in exchange for a percent of the item's value. However, if you don't repay the loan plus interest within a certain amount of time, the shop can sell the item.

Friends or family members

A friend or family member may be willing to give you a loan. They may also offer more flexible terms than a major lender would. However, you risk damaging your relationship if you don't repay the loan.

Cosigners

A cosigner uses their income and credit score to help you qualify for a personal loan. But if you can't repay the loan as the primary borrower, the cosigner will have to pay it.