Best Loans for Bad Credit in Nebraska for 2024

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Updated: November 21, 2024

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Happy Money is the best personal loan lender for bad credit in Nebraska, with a MoneyGeek score of 94 out of 100. It provides quality service, competitive interest rates and is credible and transparent about its loan terms and process. The runner-up is Avant, with a MoneyGeek score of 92 out of 100. It has a quick application and approval process, offers broad payment options and is known for its strong customer service.

MoneyGeek reviewed four personal loan lenders in Nebraska that have disclosed their minimum credit score requirements ranging from 580 to 640 to find the best personal loans for bad credit in the state. While the lenders featured offer competitive options, individuals may also consider First Nebraska Credit Union, Centris Federal Credit Union and Metro Credit Union for personalized local services.

MoneyGeek Logo IconBest Bad CreditLendersNebraska
2024

Best Bad Credit Loans in Nebraska

Best Overall - Happy Money
Runner-Up - Avant

MoneyGeek scored personal loan lenders in Nebraska that explicitly disclose their minimum credit score requirements on their websites to find the best personal loans for bad credit. 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 that are licensed to do business in Nebraska. We also consider financial companies who partner with federally insured institutions to offer competitive rates.

34Lenders Analyzed

    Overall Best Bad Credit Loan Lender in Nebraska

  • 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 Nebraska with a MoneyGeek score of 94 out of 100. It is not a lender but a fintech company that collaborates with lending partners insured by the NCUA to originate personal loans.

    Catering to borrowers with a minimum credit score of 640, it offers loan amounts ranging from $5,000 to $40,000 and provides funds by the next day. It stands out for not charging many common fees and offering flexible repayment terms. But it only offers loans for debt consolidation and charges an origination fee.

    Pros

    • Doesn't charge late, early repayment, bounced check, failed ACH or other fees
    • Offers to pay creditors directly
    • Lower maximum APR than competitors

    Cons

    • Only offers loans for debt consolidation
    • Charges an origination fee
    • No co-signers or co-borrowers
    Happy Money

    Runner-Up for Best Bad Credit Loan Lender in Nebraska

  • 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 Nebraska with a MoneyGeek score of 92 out of 100. It collaborates with WebBank, a state-chartered, member FDIC bank, to originate personal loans. Borrowers with lower credit can apply because it requires a minimum credit score of 580 and offers loan amounts ranging from $2,000 to $35,000, with the possibility of receiving funds the next day.

    Avant doesn't impose a penalty for early loan repayment and provides the flexibility of repayment terms between 12 to 60 months. But an administration fee up to 9.99% is charged, and borrowers should also consider potential late fees and dishonored payment fees.

    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 Payment in Nebraska

The average new account balance for personal loans in Nebraska, based on the most recent TransUnion Credit Industry Snapshot, stands at $11,732. When you take out a personal loan, typically an unsecured loan, the lender provides you with the funds that you agree to repay over a fixed term, typically with interest. Repayments are usually made in monthly installments over the loan term.

For individuals with less-than-perfect credit scores, accurately determining monthly payments becomes even more crucial. Lower credit scores might attract higher interest rates, making it more challenging to manage repayments without careful planning. To estimate your loan payments, the personal loan calculator by MoneyGeek is a useful tool that can provide clarity on your potential monthly obligations before you commit to a loan.

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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 Nebraska

In Nebraska, the average credit score is 731, which is higher than the national average of 715.

Even with a bad credit score, securing a personal loan is possible. Lenders in Nebraska may consider applicants with poor credit, though these loans often come with elevated interest rates and less advantageous terms. Refer to the table below to explore personal loan lenders in Nebraska that align with your credit score.

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 Nebraska

Personal loan application denials are common, especially when your credit score is lower than average — but it doesn't have to halt your borrowing journey. Here's what you can do to enhance your chances of approval for future applications.

  1. 1
    Find out the reason for the denial

    If a lender has denied your loan application, it could be due to factors such as a poor credit score, a high debt-to-income ratio, insufficient income or errors in your application. Reviewing the lender's reasons for denial will help you address the specific areas that need improvement, reducing the likelihood of future denials.

  2. 2
    Modify your loan terms

    You may be able to negotiate with your lender to alter the loan amount or repayment terms to secure approval. Adjusting these could make the loan more manageable according to your financial situation.

  3. 3
    Find another lender

    Each lender sets its own criteria for loan approval. Explore your options and compare different lenders to find the best match for your needs and credit profile. Consider the following factors:

    • Eligibility requirements: Verify the lender's credit score, income level, debt-to-income ratio and employment history requirements.
    • Interest rates: Look for lenders offering competitive rates, which is especially significant if you have a lower credit score.
    • Additional fees: Some lenders charge fees like origination, late or prepayment fees while others may not. It's helpful to be aware of these fees.
    • Loan terms: Lenders provide various repayment term options. Assess the impact of selecting a shorter or longer term on your financial situation.
    • Customer service and reputation: Evaluate the lender's reputation and the quality of its customer service.
  4. 4
    Look for alternatives

    Borrowers with bad credit might find more suitable options beyond personal loans. Researching alternatives such as secured loans, credit union loans or peer-to-peer lending can lead to more accommodating solutions for your financial status.

  5. 5
    Improve your credit score

    Enhancing your credit standing is a gradual process that can increase your chances of loan approval. Techniques for improving your credit score include paying bills on time, reducing outstanding debt and examining your credit reports for inaccuracies.

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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 Nebraska

When shopping for personal loans in Nebraska, it's common for borrowers, especially those with bad credit, to have questions or concerns. 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 Nebraska?
Which lender in Nebraska has the lowest APR rates for personal loans?
Which lender in Nebraska has the lowest minimum credit score requirement for personal loans?
How to apply for a personal loan for bad credit in Nebraska?
How long does it take to get a bad credit loan in Nebraska?
Can I pay off my personal loan early in Nebraska?
Is there a difference between personal loans and installment loans in Nebraska 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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