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Find the Best Personal Loan for Your Needs

If you’ve been looking at different types of finance to obtain for you and your family, you’ve probably had a look at personal loans. Personal loans are becoming increasingly popular in the United States, but they’ve been around since the beginning of modern finance. Credit cards have been some of the most popular forms of borrowing in the past few decades, but lower interest rates have attracted those who want to save a bit of money via personal loans.


Guaranteed Personal Loans

Many people don’t want to have to apply for multiple financing options, and choosing the right finance to apply for is key in protecting your credit score. For this reason, many people seek an option that is considered guaranteed. Unfortunately, guaranteed personal loans are few and far between. You’ll typically need to wait for a lender to look at your credit report before they will provide you with a loan. If you’re rejected, it will damage your score and reduce your chances of getting approved in the future.

We’ve created this guide to help people better understand their options if they want a guaranteed personal loan. It will provide you with all the information you need in regards to this topic. If you’ve found yourself confused about personal loans and how they are awarded to borrowers, this will be the perfect guide for you. Make sure to read all the content in this article before you embark on your journey to find the perfect lender for you.

The Flaw in the System

If you want to get a guaranteed personal loan from a traditional lender, you’ll find that this isn’t really an option. Traditional lenders don’t guarantee that they will give you a loan until you apply for one. The flaw in the system is the fact that you have to get your credit checked by a company before you can apply – and this credit check also damages your credit report. Every time you give someone permission to run a credit check on your name, the credit reporting body records the fact that your credit has been checked – this can reduce your score by up to 15 points.

This is problematic because you are unable to show that you are a responsible lender if your lender cannot see your credit report. On the other hand, if they do see your credit score, then you end up having a check on your report that damages your score. Luckily, there are a few alternatives that can provide you with more of a guarantee.

Peer-to-Peer Lending

This is the most viable way to try and get a guaranteed personal loan. Peer-to-peer lending is an innovative form of money lending that provides users with the ability to borrow money from other regular consumers. Investors will put money up that they are willing to lend to other people within a network. Typically, this money is facilitated through a third-party site that takes a small commission for facilitating the loan.

How Much Can I Borrow?

Peer-to-peer loans are typically only for small amounts. Because there is a decent amount of risk involved for the investors, they try and restrict the amount that you can borrow. If you’re looking to borrow a large sum of money, this is probably not the best option for you.

Are Interest Rates Higher?

Interest rates are much higher than with typical personal loan providers. Again, this is because these loans are not secured and they involve a large amount of risk for the investor who is lending the money. The loans are typically short term though, which means that there won’t be too large of an accumulation of interest. The loans also have way lower interest rates than predatory loans provided by certain lenders, such as payday lenders.

Some Secured Loans

Another form of guaranteed loan that you might be able to find is a secured loan. Secured loans are loans that are tied to the value of an asset that you put up as collateral. Many people use their home or their car to secure loans. If you don’t end up paying the money that you owe to your lender, they will be able to use the asset you have signed over to get back the money that you still owe them. For this reason, secured loans are considered quite dangerous for people who have trouble meeting their financial commitments.

If you have an asset that is large enough to meet the value of the entire loan that you’re trying to obtain, then you can probably convince a lender to guarantee that you will receive the loan. This will also most likely come with certain stipulations, such as the fact that you won’t be able to sell or alter the asset while the loan is still due.

These loans are much easier to get, as lenders are taking on substantially less risk when they give you money. In addition, they also typically have way lower interest rates, which is awesome for someone who is trying to save a bit of money with their financing. Again, we must stress that this is only a good option for those who know they will be able to pay back their loan on time. You don’t want to put your family’s home or car at risk in order to get financing – there are much safer options available.

What to Avoid

When you’re looking to get a guaranteed personal loan, there should be things that you should look to avoid. There are many predators in the lending industry that will try and get you to sign up for loans if you’re desperate to get cash. For this reason, you have to be especially careful when you’re trying to find guaranteed personal loans. So, what should you avoid when you’re applying for personal loans? We’ve listed a few things in more detail below:

Promise of Guarantee

If a lender is offering you a guaranteed unsecured personal loan, you need to be careful. This is typically a catchphrase that is thrown at you to try and lure you into applying through a specific lender. There aren’t many lenders that can actually guarantee you financing, and those who can will typically charge you extortionate interest rates. That’s why you should always read the fine print if you see a claim like this. You should even call the lender and triple check that everything they are claiming is correct.

Head to a few different consumer watchdog groups and make sure that the company has a longstanding reputation in the industry. You don’t want to work with a brand new company that is claiming it can guarantee you finance – they may end up running your credit report anyways!

Payday Loans

Payday loans are one thing that we recommend our readers avoid at all costs. Payday loans are loans that are extended to you on the basis of your next paycheck. They don’t require any credit checks at all. In this regard, they are a guaranteed loan. They provide borrowers with the assurance that their loan will be accepted regardless of their credit score.

The problem with this form of finance is that if you don’t pay back the loan on the first payment date, you begin accruing interest at an extremely high rate. Some lenders will charge their customers over 1200% interest! This is miles above any normal rate that you should ever consider paying. For this reason, these lenders are considered predatory lenders. They have ruined the lives of many borrowers around the nation. There are plenty of personal loan providers that will be able to provide loans for people with poor credit with much lower interest rates.

On top of this, even if you pay back your payday loan on the first due date, the fees for the loans can often be up to 50% of the amount that you have borrowed.

Hard Vs. Soft Credit Checks

One way to help you improve the application process is to aim for lenders that only run a soft credit check on your report. Hard credit checks consist of a full check of your report, they typically allow the lender to see every aspect of your credit report. Soft checks on the other hand are a much more surface level approach to checking credit. They don’t record on your credit report as a full enquiry, which means that they don’t damage your score in the same way.

If you’re looking to do as little damage to your credit report every time you apply for finance, a soft credit check is always your best option. This will also improve your ability to apply for multiple loans without damaging your financial health.

Speak to Your Prospective Lenders

If you don’t like any of the options that we’ve mentioned above, or you need to borrow more money than you think would be available via a peer-to-peer lender, then you should focus on improving your chances of being approved. The best way to ‘guarantee’ that you get approved for a loan is to only apply for finance via companies that you know you will be approved for. Different lenders have different lending requirements. Each type of lender that you opt to apply for will have a range of scores that they typically accept.

You can speak to your lender directly if you cannot find the scores that they typically accept. Ask them a few specific questions to get a better idea of if you will be able to qualify for one of their loans.  Make sure to ask you lender these questions:

  • Do you have a range of scores that you typically select borrowers from?
  • How often do you accept scores below this range?
  • Are there items on a credit report that automatically disqualify you from being eligible from receiving a loan from you?
  • Is there anything I should know about your application process that will help me improve my chances of being approved?
  • Do you do a hard or soft credit check when I apply for a loan?

If your lender won’t provide you with any information on these topics, you’ll probably want to go with another company if you’re trying to guarantee approval. This being said, there are other ways to find information on lender requirements. There are many online forums hat provide you with the opportunity to see what past scores have typically been accepted by borrowers.

These forums have a wide variety of users that will post scores they have had success with. It’s a good way to get a picture of what kind of score a lender is willing to accept.


As you can see, there is no clear-cut answer to guaranteed personal loans. If you’re only looking for a small amount of money to cover an emergency cost, a peer-to-peer loan might be your best option. Also consider a line of credit loan from major banks. These lenders will not run credit checks on you and can get you money extremely quickly. On the downside, you will pay a large interest rate. That’s why we suggest that our readers look to work with a personal loan lender that either lets you secure the loan, or allows for people with low credit scores to be approved.

Finding these lenders can be tough, and you want to make sure that you end up working with a company that you can trust. That’s why we’ve created a list of the best lenders in the industry – it’s a great starting point for someone who is looking to try and find a good lender to work with. Make sure to check out our homepage if you want to see who we currently suggest.

Remember, don’t work with payday loans or lenders that are attempting to extort money out of you. Borrowing money can have great benefits, but it can also be extremely bad for you if you approach it the wrong way. If you have any other questions about personal loans and their features, check out some of the other content on our website – we have information on everything!


In order to do many things, such as purchasing a vehicle, home, or starting a business, a person usually has to get a loan. Getting a loan is an extensive process that requires finding a lender that will give you the amount of money you need based on your credit history and income levels.

There are different methods to get a loan, such as through a personal loan guarantee. Take a look at the questions answered below on what guaranteeing a loan is all about how you can do so.

Types of Loan Guarantees

A loan guarantee is an important method of helping to secure the loan you receive. In many occasions, a loan guarantee is exactly what is needed to receive the loan from a lender. There are different types of guarantees, which have different requirements and parameters based on the number of parties involved.

What is a loan guarantee?
A guaranteed loan is a loan where a third party, the guarantor, takes on the debt of the borrower in a case where the borrower defaults on their loan. These guarantees can either be limited or unlimited.
What is a government guaranteed loan?
A government guaranteed loan is one in which a government agency purchases the debt from the lending institution and takes responsibility for the loan and receiving the payments for it.
What does it mean to personally guarantee a loan?
A personal guarantee is a promise that you are liable for the debt. If a person makes a personal guarantee and defaults on their loan, the lender may seize their personal assets.
Does pre-qualification guarantee a loan?
Pre-qualification does not guarantee that you will receive a loan offer. In most cases though, a person who receives a pre-qualified offer is approved for the loan if they apply directly through the lender.
How to value a loan guarantee?
You can value a loan guarantee through three methods, which are the market value, credit spread, and contingent claim methods. The appropriate method is determined in the type of loan, such as multiple-trigger guarantees are valued through contingent claims.
What type of loan is guaranteed by a promise?
A personal loan is guaranteed by a promise. This promise states that the borrower will make their loan payments and if they default, they pledge collateral, such as their assets, to pay off the loan to the lender.
What is a guarantee fee on a loan?
A guarantee fee is the amount of money paid to any mortgage-backed securities providers in return for their services. These serve as a type of insurance for mortgage-backed security, but it can cover other services as well.
What is a loan note guarantee?
A loan note guarantee is one where the lender states that loan will get paid even if the borrower ends up defaulting on the loan. These must be requested in certain situations, such as when a USDA loan closes.
What are guaranteed loans?

Guaranteed loans are any loans that have a party promise to take on the obligation of paying off the debt if the borrower defaults. A cosigner is often the person that guarantees a loan. These condistions can sometimes apply to instant personal loan offers.

What type of loan is guaranteed by collateral?

Several types of loans are guaranteed by collateral, such as small business loans, personal loans, auto loans, and mortgage loans. Because these loans have collateral, the interest rates are usually lower than unsecured loans. 

Are Kabbage loans personally guaranteed?
While you can personally guarantee a loan with Kabbage, you don’t have to in order to get a line of credit. In some cases, Kabbage will take the 2nd position, but only if the borrower has paid off most of their loan.
Are you guaranteed a FAFSA loan?
You are not guaranteed a FAFSA loan. In order to be eligible for FAFSA loans, a student cannot be in default with their current loans or owe money on any federal grants. You cannot receive federal loans, scholarships or grants without FAFSA.
What is a loan guarantee agreement?
A loan guarantee agreement is one that outlines the roles of those in the process. This agreement further supports a borrower’s obligation to a lender. These agreements can be used to help secure a loan or negotiate new terms.
Is guaranteed loans a scam?
Guarantee loans aren’t a scam inherently. There are some lenders that take advantage of people with bad credit and will offer them loans, but with high upfront fees, requests to wire money, and offers that aren’t made in writing. Always get loans from a recognized institution.
What is the definition of a loan guarantee?
The definition of a loan guarantee is a promise made by one party, the guarantor, that they will assume the borrower’s obligation of paying off the loan in the event the borrower defaults. A guarantor will either be liable for a portion of the debt or all of it.
What is a non-recourse loan bank guarantee?
A non-recourse loan is a loan where the borrower or guarantor is not liable personally for repaying the outstanding balance on the loan. This type of financing is usually found on long-term permanent real estate loans for commercial properties.
Does lender ask you to personally guarantee loan starting business?

Almost all lenders require a personal guarantee. Without a personal guarantee, most small businesses will not be able to qualify for a loan or credit. A guarantee makes the business owner personally liable to pay back their debt. Bad credit short term loans are an option too if this is a temporary expense and your credit is low.

What is an FSA guaranteed loan?
An FSA guaranteed loan is a farm loan that is guaranteed up to 95 percent against any possible financial loss of interest and principal. Because of this guarantee program, interest rates and payments can be lower than conventional loans.

Getting Loan Guarantees

There are various methods in which you can get a loan guarantee. Even if a person doesn’t have good credit or they are in a financial bind, they still may be able to get a loan guarantee if they reach out to the right lender and agree to certain conditions. Anything from a higher interest rate to the requirement of a personal loan guarantee may be required to receive money from the lender. Have a look at the questions answered on how to get loan guarantees.

Where can I get a guaranteed payday loan?

You can get guaranteed payday loans from local companies or online services, such as Cash In A Snap. Your circumstances determine how much you will receive for your loan. You can also do a quick search for cash advance places near me in the search engine of your choice.

Where can I get a guaranteed loan with bad credit?

You can get a guaranteed loan with bad credit from any lender locally or online that provides it. You must have another party that is willing to take on the debt or offer up something, such as collateral. Take a look at guaranteed signature loans for bad credit.

How to guarantee a bank loan?

There are several ways to guarantee a bank loan, such as making the promise or agreement in writing that you are personally responsible for the debt or having a third party assume responsibility if you are unable to meet your loan payment obligations to the bank. If your credit is low you may have to look elsewhere to get loan with bad credit.

How is a loan guarantee disclosed in financials?
All financial guarantees must be disclosed. The disclosure must include the nature of the guarantee, such as the history, events that would activate the guarantee, and the terms. The maximum liability and other provisions must be disclosed as well.
Is guaranteed loans for all legit?
Guaranteed Loans 4 All is a loaning platform that lends to people through its online service. Guaranteed Loans 4 All is a legitimate business that provides loans to consumers, but it is not accredited by the Better Business Bureau.
How does loan guarantee insurance work?
Loan guarantee insurance helps policyholders meet monthly payments up to a predetermined amount. The benefits of insurance can be used for personal loans, car loans, and credit cards. These policies are usually for people who are working aged from 18-65.
Where can I get a guaranteed loan?

Several companies offer guaranteed loan services. You can find many local ones, but others include MoneyMutual,, and just to name a few that offer loans even to people with bad credit. So chances are these won't be the lowest interest personal loans but you can give it a try and compare as you shop around.

How to get a guaranteed payday loan?

Guaranteed payday loans are dependent on the lender. One of the best ways to ensure you can get a guaranteed payday loan is to have a consistent income and good credit. In order to find out if you’re eligible for a guaranteed payday loan, reach out to a lender online or in your area that also does fast and easy loans.

How to guarantee a personal loan?

If you want to guarantee your personal loan, you need to find the right lender. Some things that may help though are paying your bills on time, paying down debt, and showing that you have some form of stable income. Also take a look at quick loans bad credit options.

Where to get a guaranteed loan?

Multiple lenders offer guaranteed loans. You can perform a search for lenders in your area yourself to find several, but a few online lenders include, NetCredit, and NorthStarCash. Each lender has a different limit and requirements for their loan. Guaranteed personal loans for veterans with bad credit may or may not have different requirements but talk to you local VA to see if they have a list of reputable lenders.

How to get a guaranteed loan with bad credit?

Even if you have bad credit, you can get a guaranteed loan from multiple online services, such as and Depending on your credit, you may have to pay a higher interest rate or be limited to the amount you can borrow. There are also micro loans for bad credit.

Can I get a guaranteed unsecured loan?
There are some instances where a guaranteed loan is unsecured. A guaranteed loan requires a third party to take on the responsibility of paying off the loan if the borrower defaults on their payments. The third party does not have to offer up collateral to cosign.
Can I deduct a loan I guaranteed?
In most cases, the only way in which you can deduct debt from a loan is if you included the amount you earned in your income or loaned out the cash. If you are a cash method taxpayer like most individuals, you cannot take deductions for things like guarantee fees.
Can you pay someone to guarantee a loan?
There is nothing that says you are unable to pay someone to guarantee a loan. Keep in mind that if a person guarantees a loan, they must make the payments if you are unable. Guarantors, in most cases, cannot get out of the loan agreement.
Do commercial loans have guarantee?
The Small Business Administration states that if someone owns 20% or more of their business, then they must give a personal guarantee in order to receive an SBA loan. Most banks will also require a personal guarantee for commercial loans.
Who will guarantee me an installment loan with horrible credit?

While you cannot get instant approval from any lender, there are many institutions that offer installment loans to people with horrible credit, such as OnlineLoanNetwork, CashLoans, OpenCashAdvance, and TriangleCash to name a few. These are some of the best bad credit loans you'll find.

Does modification of loan agreement discharge guarantee in Massachusetts?
Yes, if a loan agreement is modified and the contract of guaranty is materially altered, the guarantor of the loan is discharged, but the modified loan agreement may still need to be guaranteed.
Who guarantees credit card loan?
Credit card loans are not necessarily guaranteed. No matter who your credit card provider may be, there are still requirements that you must meet in order to receive one. The only form of credit card loan that is guaranteed is a secured credit card, which requires a deposit.
How to get out of personal guarantee loan?
While a guarantor does have the ability to cancel their guarantee, they may still have to meet certain obligations for the loan. The best method of getting out of a personal guarantee loan is to contact the bank or a lawyer to negotiate an agreement.

Loan Guarantees from Third Parties

In many situations, if a person can’t get a loan guarantee, they can acquire the loan guarantee thanks to a third party. This third party can be anything from a business partner to a family member, friend or even government organization. Check out the questions we’ve answered about loan guarantees involving third parties.

What is a section 502 guaranteed loan?
A Section 502 loan is made to give people who live in a rural area, and have a steady income that is either low or modest, the ability to purchase or repair a single-family home that is either new or existing.
What is a 90-loan note guarantee?
A 90-loan note guarantee is a USDA loan that guarantees to finance 90% of the loan. The risk reduction that comes with this guarantee is enough to lower mortgage rates compared to typical loans.
Does a cosigner guarantee a loan?

Yes, a cosigner is someone who not only applies for a loan with you but also agrees to pay the debt if you default on your payments. A cosigner’s signature guarantees your loan. The only other option is small loans no credit check required.

What is third party guarantee in education loan?
For an education loan, a third-party guarantee works the same as it does in other loans. A third-party guarantee states that another person will take on the responsibility of paying off the loan in the event that the borrower cannot.
Can a general partner also guarantee a loan?
A general partner can guarantee a loan. When it comes to general partnerships for business loans, each partner is responsible for the entirety of the loan, which means that creditors can take all the partner’s personal assets to pay off the loan.
What is title 17 loan guarantee program?
The Title 17 loan program is a program designed to allow the U.S. Department of Energy to issue loan guarantees. Originally, these guarantees were only for nuclear reactors, but today it has been expanded to other energy sectors.
Can city governments guarantee loans?
The government does not offer guarantee loans. If you want to apply for a loan, you should do so through a local bank or credit union. Government loan programs are usually for specific purposes such as education, business, and housing.
What does 90 loan note guarantee mean?
A 90 percent loan note guarantee is the agreement of the USDA guaranteeing 90 percent of your loan to approved lenders. This reduces the risk lenders take when giving out loans, which means for better interest rates for the borrower.
Can an ESOP guarantee a loan?
Yes, a loan made to an Employee Stock Ownership Plan or ESOP is guaranteed by a party in interest. This includes loans made directly in cash, purchase to money transactions, and an assumption of the obligations of the ESOP.
Can a limited partner guarantee a loan?
Yes, a limited partner can guarantee a loan. There are instances though where the general partner may have to take on the financial responsibilities of the limited partner when it comes to paying off the loan if the limited partner is unable to satisfy their guarantee.
What is a loan guarantee scheme?
A loan guarantee scheme is a facility for encouraging commercial banks to give out loans to small firms who are unable to receive loans conventionally because of the high risks involved. Under a scheme, the Department of Trade and Industry guarantees the repayment of 70% of the loan.
Is a company liable for personal loan it guaranteed?
A company is not liable for a personal loan it guarantees unless the owner is the one to provide the personal guarantee, which is why most suppliers and banks do not provide loans to shareholders or LLC members unless it is the owner.
Can an IRA guarantee a loan?
No, you cannot use your IRA to guarantee your loan. What you can do is borrow against your IRA and receive funds from it to pay off a loan potentially, but you cannot do it directly.

Robert is our in-house expert on personal loans and finance. He got an MBA, specializing in Finance, before joining the workforce. After working for multiple Fortune 500 companies in the past decade, he brings a wealth of knowledge and experience to the table.