Best Loans for Bad Credit in Kansas for 2024

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Updated: October 29, 2024

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Happy Money stands out as the best personal loan lender for bad credit in Kansas, with a MoneyGeek score of 94 out of 100, due to its quality customer service, competitive interest rates and credible and transparent practices. The runner-up, Avant, is notable with a MoneyGeek score of 92 out of 100 for its broad payment options, quick application and approval process and strong customer service.

While these are the highlighted options, other lenders such as CommunityAmerica Credit Union, Kansas State Bank and Mainstreet Credit Union also offer localized services. They may suit your personal loan needs in Kansas. MoneyGeek reviewed four personal loan lenders in Kansas that set and disclosed their minimum credit score requirements between 580 and 640 to find the best personal loans for bad credit in the state.

MoneyGeek Logo IconBest Bad CreditLendersKansas
2024

Best Bad Credit Loans in Kansas

Best Overall - Happy Money
Runner-Up - Avant

MoneyGeek scored personal loan lenders in Kansas that explicitly disclose their minimum credit score requirements on their websites to find the best personal loan for bad credit in the state. Only 12% of lenders disclose this information.

We filtered our analysis to include lenders with minimum credit score requirements between 580 and 640, which meets Experian's definition of fair credit. Our research did not find any published minimums lower than 580.

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Our analysis was completed in April 2024 and considers banks and lenders who are licensed to do business in Kansas. We also consider financial companies who partner with federally insured institutions to offer competitive rates.

34Lenders Analyzed

    Overall Best Bad Credit Loan Lender in Kansas

  • Happy Money
    • 94MoneyGeek Score
    • 11.72% to 17.99%APR Range
    • 640Minimum Credit Score
    • $5,000 to $40,000Loan Amount Range
    • 24 to 60 monthsRepayment Terms

    Happy Money is MoneyGeek's pick for the best personal loan lender for bad credit in Kansas with a MoneyGeek score of 94 out of 100. It is not a lender but a fintech company that partners with lending entities insured by the NCUA to originate loans. With a minimum credit score requirement of 640 and loan amounts ranging from $5,000 to $40,000, borrowers can receive funds as soon as the next day. It offers flexible repayment terms and conducts soft credit pulls, which is ideal for those with bad credit. However, applicants should note that it only provides loans for debt consolidation and charges an origination fee.

    Pros

    • Doesn't charge late, early repayment, bounced check, failed ACH or other fees
    • Conducts soft credit pulls
    • Offers to pay creditors directly

    Cons

    • Only offers loans for debt consolidation
    • Charges an origination fee
    • $40,000 borrowing limit
    Happy Money

    Runner-Up for Best Bad Credit Loan Lender in Kansas

  • Avant
    • 92MoneyGeek Score
    • 9.95% to 35.99%APR Range
    • 580Minimum Credit Score
    • $2,000 to $35,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms

    Avant is the runner-up for the best bad credit loan lender in Kansas, with a MoneyGeek score of 92 out of 100. This lender partners with WebBank, a state-chartered member FDIC bank, to originate personal loans. With a minimum credit score requirement of 580 and loan amounts ranging from $2,000 to $35,000, Avant serves borrowers efficiently, providing funds as soon as the next day. It also offers the flexibility of repayment terms from 12 to 60 months and next-day funding, which are quite accommodating for those with bad credit. However, an administration fee of up to 9.99% and the lack of co-signing options should be noted by applicants.

    Pros

    • Doesn't charge a prepayment penalty
    • Flexible repayment terms between 12 to 60 months
    • Offers next-day funding

    Cons

    • Charges an administration fee up to 9.99%
    • Has late fees and dishonored payment fees
    • Low borrowing limits at $35,000
    Avant

Calculate Your Monthly Loan Payment in Kansas

The average new account balance for personal loans in Kansas is $7,743, according to theCredit Industry Snapshot report by TransUnion.

Repayment of a personal loan, typically an unsecured loan, involves making fixed payments over a set period, with the payment amount depending on the loan's terms, interest rate and the loan's duration. If you have a lower credit score, it's particularly useful to understand your monthly loan payments, as rates can be higher, thus affecting the payment amount. To help you estimate your monthly payments on a personal loan, you can use the personal loan calculator provided by MoneyGeek.

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Estimate the monthly payment for your loan.

Updated: Nov 21, 2024

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Best Bad Credit Loans by Credit Score in Kansas

The average credit score in Kansas is 723, which is higher than the national average of 715.

If your credit score is on the lower end, you might still qualify for a personal loan. Certain lenders in Kansas understand your needs and may provide loans to those with bad credit; however, anticipate higher interest rates and more restrictive terms. Refer to the following table to discover which personal loan providers in Kansas accommodate various credit scores.

Avant5809.95% to 35.99%$2,000 to $35,00012 to 60 monthsNext Day92
Prosper6008.99% to 35.99%$2,000 to $50,00024 to 60 months1 business day90
Achieve6208.99% to 35.99%$5,000 to $50,00024 to 60 monthsSame Day 92
Happy Money64011.72% to 17.99%$5,000 to $40,00024 to 60 months3 to 6 Business Days94

What to Do if Your Loan Application Is Denied in Kansas

It's not uncommon to face a personal loan application denial, but this doesn't halt your borrowing journey. Understanding the next steps can help you navigate this setback. Here are some measures to enhance your chances for approval on future applications.

  1. 1
    Find out the reason for the denial

    If you face a loan application denial, lenders might have decided against granting your request for reasons such as a poor credit score, a high debt-to-income ratio, insufficient income or errors in your application. Understanding the specifics behind the denial helps you address these issues and improve your chances for future loan approvals.

  2. 2
    Modify your loan terms

    Should your application get rejected, consult with your lender to see if changing the loan amount or repayment terms could lead to a successful loan application. Adjustments might make the loan more agreeable to the lender's risk assessment.

  3. 3
    Find another lender

    Each lender uses distinct criteria for loan approval, making it beneficial to compare options. Searching for the right lender includes considering factors that determine a good match for your financial situation and credit background.\n- Eligibility requirements: Check for diversity in credit score, income level, debt-to-income ratio, and employment history requirements among lenders.\n- Interest rates: Look for lenders offering competitive rates to save money, particularly when your credit is less than perfect.\n- Additional fees: Be aware of fees such as origination, late or prepayment charges. Some lenders may waive these, which is significant for those with bad credit.\n- Loan terms: Lenders offer various repayment terms. Short terms usually result in higher monthly payments but lower interest over time, while long terms mean smaller payments but more interest paid overall.\n- Customer service and reputation: Research how lenders treat their customers and their overall reputation. A lender's approach to service and problem-solving can affect your borrowing experience.

  4. 4
    Look for alternatives

    If personal loans aren't a good fit due to your credit score, consider alternatives such as secured loans, credit union loans or co-signed loans. Each offers different benefits and risks, so evaluate them carefully to determine the right option for your financial situation.

  5. 5
    Improve your credit score

    Enhancing your creditworthiness can lead to better loan opportunities. Start by paying bills on time, reducing debt and checking your credit reports for errors. Over time, these steps can result in an improved credit score.

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EXPERT TIP

Work on improving your credit score before applying for a personal loan to increase your chances of approval and getting better terms. Here are some long-term steps to consider:

  • Monitor your credit utilization ratio: Keep your credit utilization ratio low, as high credit utilization can negatively impact your credit score. Aim to use less than 30% of your available credit limit.
  • Don’t close old credit cards: The length of your credit history contributes to your credit score. Even if you no longer use a credit card, keep it open unless it has an annual fee.

—Alvin Yam, CFP

FAQ About Bad Credit Loans in Kansas

When shopping for personal loans, it's common for borrowers in Kansas, especially those with bad credit, to have questions or concerns. To assist, we compiled answers to some frequently asked questions, offering clarity and guidance to help you make well-informed decisions.

Who is the best personal loan lender for bad credit in Kansas?
Which lender in Kansas has the lowest APR rates for personal loans?
Which lender in Kansas has the lowest minimum credit score requirement for personal loans?
How to apply for a personal loan for bad credit in Kansas?
How long does it take to get a bad credit loan in Kansas?
Can I pay off my personal loan early in Kansas?
Is there a difference between personal loans and installment loans in Kansas for bad credit?

Sources

Experian. "What Is the Average Credit Score in the US?." Accessed April 10, 2024.

TransUnion. "Credit Industry Snapshot." Accessed April 10, 2024.

About Zachary Romeo, CBCA

Zachary Romeo, CBCA headshot

Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.

Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.

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