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Loans for Poor Credit in Santa Clara, CA

If you are in a situation where you need a personal loan, but you have bad credit, you will find many options closed to you. Many lenders require credit checks before loan applications are approved and with bad credit or no credit score, those applications will likely be rejected. That does not mean that there are no loans for poor credit in Santa Clara. There are options and some of these offer flexibility and security, making them a worthwhile loan option.

Types of Loans for Poor Credit

There are different types of loans that are available if you have poor credit. These can generally be divided into secured loans and unsecured loans.


  • Secured loans – these are loans that use some property as collateral, such as your home or your car.
  • Unsecured loans – these loans do not require any collateral. They are riskier for the lender and tend to have higher interest rates. There are unsecured loans that are not available for people with bad credit.


Secured Loans

Secured loans are also known as collateral loans. Because they require collateral, these offer loans for poor credit in Santa Clara. Because they are less risky for the lender they also tend to offer more flexible conditions and more favorable interest rates than other loans options for poor credit applicants. An example of collateral or secured loans is car title loans.

Unsecured Loans

Unsecured or no-collateral loans may also offer loans for poor credit in Santa Clara, but since they pose much more risk for the lender, they have less favorable conditions. Interest rates are generally higher and repayment schedules are less flexible. This, in turn, makes repayments more difficult. Examples of unsecured loans may include payday loans.