How and where can you get a loan with a bad credit history?
A credit history is a kind of dossier for each client applying for a loan. If you have never taken out a loan, your CI is clean: there is nothing in it at all. If you took out a loan, the CI will contain all the information about it: where you took it, how much, for what period. And the most important thing for any credit institution is how did you repay this loan: on time? Have you paid it off completely? Were there any problems?
Based on the credit history, banks and microfinance organizations will be able to more accurately understand whether it is worth issuing a loan to the client.
Do banks issue loans to people with bad credit history and why?
If your credit history is damaged, you will most likely be denied a bank loan. At least when it comes to large long-term loans. Some non-targeted loans with small amounts for a short time may still be approved, but even in them they will try to worsen the conditions as much as possible. Also, more requirements will be put forward to such a client: they will certainly require a guarantor and a full package of documents.
That is, according to the bank, a client with a problematic credit history is an unreliable borrower: there is a possibility that problems may also arise with their money.
How to get a loan online without refusal with a bad credit history?
If a client has experience of being rejected for an online loan with a bad history from different banks, he should look for more affordable options and loyal requirements in microfinance organizations. This is a quick way to complete an application without leaving home via the Internet. Simplified conditions are represented by a simple package of documents, no need for income or employment certificates. What is the secret why MFOs are ready to provide loans online to those with a bad credit history and overdue ones in Ukraine?
The work of a microfinance organization is a well-thought-out lending offer. The first possible loans are small amounts, but with significant interest. In most options, an online urgent loan with a bad credit history has a rate that is calculated every day. Although some financial organizations are represented on the Bank-ua platform, they also offer advantageous offers of short-term loans at 0.01% for 2-3 weeks.
How to get a loan with bad credit online: basic steps
In order to apply for a loan online without calling with a bad credit history, you should follow the following sequential steps:
- Choose your first small loan. Using the loan comparison service, you can choose the optimal conditions from microfinance organizations: repayment terms, interest.
- Repay the debt on time. This should not be an option for early repayment, which may also be considered a negative experience by the financial institution. A smart decision is to close the loan within the agreed upon period.
- Reapply for a larger loan. The microfinance organization will evaluate such a client as a conscientious payer and, in the overwhelming number of requests, approves a large amount.
The more applications and closed loans, the larger the limit the institution can provide. Later, the client receives VIP status and can apply for an extension of the loan term to up to a year. At the same time, the credit history is not checked, because the person is already in the database and has a positive experience of interacting with the organization. Such steps make it possible to further increase the rating in the Credit History Bureau, because the MFO provides the client as solvent. In the future, this is an advantage for obtaining a mortgage, car loan or consumer loan.
What are the advantages and disadvantages of an online loan with a bad history?
An online loan with bad credit is an easy and affordable way to get a loan compared to going to a banking institution. This saves time – you can fill out an application without leaving your home, you only need Internet access. Simple document requirements – passport to confirm identity.
What are the advantages of an online loan in Ukraine with a bad credit history?
- the ability to quickly apply for and receive a loan;
- convenient methods of issuing funds: by card, by transfer, in cash, etc.;
- option to improve your credit history through the first closed small loans;
- receiving a loan at any time – 24/7;
- choosing a debt payment method.
What are the disadvantages of taking out an online loan with a bad credit history?
- high interest rate;
- short loan terms;
- the first requests approve insignificant amounts.
Which companies are willing to issue loans to people with bad credit?
In addition to banks, you can apply for a loan from a microfinance organization. Such companies lend small amounts of money and for a short period of time. Thanks to this approach, they risk much less: even if the client has problems and is unable to repay the loan on time, the company will not lose a large amount of money. That is why MFOs are ready to work with clients who are often rejected by banks:
- students;
- pensioners;
- unemployed;
- people with bad credit history.
MFOs do not apply for loans for large purchases – people who need small amounts for current expenses come here. Since the microfinance organization issues money as quickly as possible (in literally 1 hour you can already receive a transfer to a card or cash) – those who have some unpredictable situation that needs to be solved urgently (for example, buy a new smartphone) can also contact here instead of the lost one).
What is another huge advantage of a loan from an MFO for those who have problems in their credit history. In any credit organization (and in banks in particular), when considering an application for a loan, they first evaluate the information on the last loan taken. If there are no problems in your credit history (i.e. you took it out and repaid it on time) – your CI is considered good.
Therefore, for those who want to get a loan from a bank with a bad credit history, this is a very convenient way to solve the problem. You can apply for a microloan from a microfinance organization, repay it on time, and after that your CI will improve. Now you can count on receiving a larger amount from the bank or on more favorable terms.
List of microfinance organizations that issue loans with bad credit history
There are dozens of microfinance organizations operating in Ukraine, and each company has its own conditions. If you do not want to spend several hours of time on independent searches and choosing the most advantageous offer, you should use the Bank-ua service. This is a site that provides comparisons of all the main Ukrainian microfinance organizations – that is, all the necessary information about the conditions has already been collected in one place. Literally 5-10 minutes – and you will find the best option and can go to the website to fill out an application.
Information about our partners
| MFO | Contacts | Legal information |
| CCloan | Telephone: 0 800 750 027 38 097 583-11-77 38 093 583-11-77 38 044 222-77-33 E-mail: help@ccloan.com.ua Work schedule: around the clock | Address: Ukraine 01024, Kyiv, str. Basina, building 6 Legal name: TOV “SS Lone” EDRPOU 40071779 License of the National Financial Service Commission: No. 1127 dated April 13, 2017. Director: Natalya Valentynivna Klevakina |
| in Milo | Telephone: 38 (044) 337 36 67 E-mail: info@miloan.ua Work schedule: Issuance of loans – around the clock, Support service – From 8:00 a.m. to 8:00 p.m | Address: Kyiv, Baggovutivska, building 17-21 Legal name: LLC “Miloan” EDRPOU 40484607 License of the National Financial Service Commission: No. 163 dated January 26, 2017 Director: Vynychenko Oleksiy Vitaliyovych |
| Moneyveo | Telephone: 0 800 21 9393 E-mail: support@moneyveo.ua Work schedule: around the clock | Address: 01015, m. Kyiv, 15-B Leiptsyzka Street, 1st floor Legal name: OOO “MANIVEO QUICK FINANCIAL ASSISTANCE” EDRPOU 38569246 License of the National Financial Service Commission: No. 163 dated January 26, 2017 Director: Andronikova Olena Oleksandrivna |
| Alexcredit | Telephone: 38 (099) 618 64 64 38 (097) 618 64 64 38 (093) 618 64 64 E-mail: mail@alexcredit.com.ua Work schedule: Loans are issued around the clock Contact center: Mon – Fri from 8:00 a.m. to 8:00 p.m. Sat and Sun from 10:00 to 20:00. | Address: 49041, Dnipro, st. Yakov Samarskyi, 12-A Legal name: LLC “ALEKSKREDIT” EDRPOU 41346335 License of the National Financial Service Commission: No. 3549 dated August 17, 2017 Director: Egorov Vadim Petrovych |
| MyCredit | Telephone: 073 369 41 11 067 369 41 11 050 369 41 11 0 800 214 111 E-mail: support@mycredit.ua Work schedule: around the clock | Address: 01010, Kyiv, square Arsenalna, 1-B Legal name: LLC “1 Secure Agency of Necessary Credits” EDRPOU 39861924 License of the National Financial Service Commission: No. 163 dated January 26, 2017 Director: Stenzya Dmytro Vitaliyovych |
| CreditKasa | Telephone: 38 044 333 52 22 38 067 373 37 57 38 099 373 37 57 38 063 373 37 57 E-mail: info@creditkasa.ua Work schedule: weekdays from 8:00 a.m. to 9:00 p.m weekends and holidays: from 10:00 to 20:00 | Address: 01133, Kyiv, blvd. Lesi Ukrainka, 26, office. 407 Legal name: LLC “UKR CREDIT FINANCE” EDRPOU 38548598 License of the National Financial Service Commission: No. 2401 dated 06/08/2017 Director: Maria Mykolaivna Hayvoronska |
| CreditPlus | Telephone: 0 (800) 753-363 E-mail: info@creditplus.ua Work schedule: Issuance of loans around the clock Support service hours: Mon-Fri: 8:00 a.m. to 11:00 p.m Sat-Sun: from 9:00 to 21:00 | Address: 03062, Kyiv, Prospekt Peremogy 90-A Legal name: LLC “Aventus UKRAINE” EDRPOU 41078230 License of the National Financial Service Commission: No. 756 dated 03/28/2017 Director: Volodymyr Viktorovych Dovhal |
| Goufingou | Telephone: 38 (044) 390 30 31 E-mail: info@gofingo.com.ua | Address: 04071, Kyiv, Horiva St., 1A Legal name: LLC “GOUFINGOU” EDRPOU 42059219 License of the National Financial Service Commission: No. 876 dated 06/07/2018 Director: Ivashchenko Iryna Viktorivna |
| Fast Money | Telephone: 0 800 50 10 20 E-mail: info@sgroshi.com | Address: 01032, Kyiv, str. Saksaganskyi, 133-A Legal name: LLC “CONSUMER CENTER”, EDRPOU 37356833 License of the National Financial Service Commission: No. 438 dated February 28, 2017 Director: Oleksandr Volodymyrovych Kholod |
| There is money | Telephone: 0 800 300 330 Email: info@e-groshi.com Work schedule: around the clock | Address: m Dnipro, Bohdan Khmelnytskyi Avenue, building 180, office (Sq.) 211 Legal name: LLC “FINANCIAL COMPANY E MONEY” EDRPOU 43067861 License of the National Financial Service Commission: No. 1968 dated 08.10.2019 Director: Koretskaya Iryna Serhiivna |
| Your Cash | Telephone: 0800 202 404 E-mail: zayavka@limefin.com Work schedule: from 8:00 a.m. to 10:00 p.m. without days off | Address: MYKOLAIV, Pushkinska, building 28, office (Sq.) 7 Legal name: LLC Lime Capital EDRPOU 41885310 License of the National Financial Service Commission: No. 793 dated May 7, 2019 Director: Galina Volodymyrivna Lebedeva |
| Wallet | Telephone: +38 (044) 334 44 20 E-mail: info@koshelok.net | Address: 08135 Kyiv region, Kyiv-Svyatoshinsky district, Chaika Antonov, building 8A Legal name: LLC “KOSHELOK” EDRPOU 40842831 License of the National Financial Service Commission: No. 432 dated 28.02.2017 Director: Serhiy Serhiyovych Krylov |
| CashBerry | Telephone: 0 800 600 770 E-mail: info@cashberry.com.ua Work schedule: Monday – Friday: 08:00 – 20:00 Sat – Mon: 09:00 – 18:00 | Address: Kyiv Klovsky Uzviz, b. 7, office (Sq.) Room 103 Legal name: LLC “Financial company Invest Finance” EDRPOU 40284315 License of the National Financial Service Commission: No. 1680 dated 05/16/2017 Director: Kupriyanov Maksym Serhiyovych |
| Credit7 | Telephone: 0 800 33 07 33 E-mail: info@credit7.ua Work schedule: Mon-Fri: from 9:00 a.m. to 9:00 p.m Sat-Sun: from 9:00 to 19:00 | Address: 02081 Kyiv, Dniprovska naberezhna, 25, office (Sq.) 318 Legal name: LLC “LINEURA UKRAINE” EDRPOU 42753492 License of the National Financial Service Commission: FC certificate No. 1177 dated 03/19/2019 Director: Shchenichny Andriy Ivanovych |
| Forzacredit | Telephone: 0800300770 Work schedule: around the clock 24/7 | Address: 04080 Kyiv, Vikentia Khvoyki, 15 / 15 Legal name: LLC “FC” FORZA “EDRPOU 41762679 License of the National Financial Service Commission: No. 559 dated 04/13/2018 Director: Natalia Chebanova |
| KF.UA | Telephone: 0 800 30 08 83 Work schedule: around the clock | Address: 04080 Kyiv, Vikentia Khvoyki, 15 / 15 Legal name: LLC “FC” FORZA “EDRPOU 41762679 License of the National Financial Service Commission: No. 559 dated 04/13/2018 Director: Natalia Chebanova |
| Money4you | Telephone: 0 800 330 024 E-mail: info@money4you.com.ua Work schedule: Mon-Fri: 09:00-20:00 Sat-Wed: 10:00-20:00 | Address: 03150 Kyiv, Kazimyra Malevicha, building 87 Legal name: LLC “Manifo” EDRPOU 42848369 License of the National Financial Service Commission: No. 1198 dated 05/07/2019 Director: Oleg Vasylovich Kuzminov |
| SOS Credit | Telephone: (044) 36 36 767 0 (800) 211 767 E-mail: support@sos-credit.com.ua Work schedule: from 9:00 to 18:00 (weekdays) | Address: 23, Pochaynynska, Kyiv, 04070 Legal name: LLC “SOS KREDIT” EDRPOU 39487128 License of the National Financial Service Commission: No. 163 dated January 26, 2017 Director: Timofeev Yaroslav Andreyovych |