Best Loans for Bad Credit in Arizona for 2024

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Reviewed byAlvin Yam, CFP
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Reviewed byAlvin Yam, CFP
Edited byBenjamar Gabawa
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Updated: May 1, 2024

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Happy Money is Arizona's best personal loan lender for bad credit, with a MoneyGeek score of 94 out of 100. It stands out due to its credible and transparent approach, robust customer service and education, and swift application and approval process. Avant, which achieved a runner-up position, has a MoneyGeek score of 92 out of 100. It is recognized for having the broadest loan terms and flexibility, a quick application and approval process, and a commitment to customer service.

MoneyGeek reviewed four personal loan lenders in Arizona that disclosed minimum credit score requirements ranging between 580 and 640, identifying the best personal loans for individuals with bad credit. In addition to these featured lenders, Arizona Central Credit Union, Arizona Financial Credit Union and OneAZ Credit Union are also commendable options that cater to those seeking more localized financial services in Arizona.

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Best Bad Credit Loans in Arizona

MoneyGeek scored personal loan lenders in Arizona 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 who are licensed to do business in Arizona. We also consider financial companies that partner with federally insured institutions to offer competitive rates.

34Lenders Analyzed

    Overall Best Bad Credit Loan Lender in Arizona

  • 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 Arizona, with a MoneyGeek score of 94 out of 100. It is a fintech company that works with lending partners insured by the NCUA to originate personal loans. Borrowers with a minimum credit score of 640 can access loans ranging from $5,000 to $40,000 and typically receive funds the next day. Happy Money offers direct payment to creditors and flexible repayment options. However, applicants should be aware that it exclusively provides loans for debt consolidation and charges an origination fee.


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


    • 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 Arizona

  • 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 Arizona, with a MoneyGeek score of 92 out of 100. This lender partners with WebBank — a state-chartered FDIC member bank — to offer personal loans. It accommodates borrowers with a minimum credit score of 580, provides loans ranging from $2,000 to $35,000, and offers next-day funding. Avant supports flexible repayment terms and does not penalize for early repayment. However, applicants should note it charges an administration fee and late or dishonored payment fees.


    • Doesn't charge a prepayment penalty
    • Offers next-day funding
    • Has a mobile app


    • Charges an administration fee up to 9.99%
    • Has late fees and dishonored payment fees
    • Doesn't allow co-signers or joint applications

Calculate Your Monthly Loan Payment in Arizona

In Arizona, the average new account balance for personal loans stands at $8,342, according to the Credit Industry Snapshot report by TransUnion. When you take out a personal loan, the repayment process typically involves monthly payments over a set loan term until the total amount borrowed plus interest is paid off.

Accurately determining your monthly loan payments is particularly beneficial if you have bad credit. To estimate your loan payments, consider using MoneyGeek's personal loan calculator. This tool can give you a clear picture of what to expect for your monthly outlay.

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Updated: Jun 21, 2024

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Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.

Best Bad Credit Loans by Credit Score in Arizona

In Arizona, the average credit score is 713, slightly below the national average of 715 based on Experian data.

Some Arizona lenders specialize in working with individuals with lower credit scores, though the interest rates may be higher and terms less beneficial. Review the table provided to identify Arizona personal loan lenders that align with your credit score range.

AvantMinimum Credit Score580APR Range9.95% to 35.99%Loan Amount Range$2,000 to $35,000Repayment Terms12 to 60 monthsTime to Receive FundsNext DayMoneyGeek Score 92
ProsperMinimum Credit Score600APR Range8.99% to 35.99%Loan Amount Range$2,000 to $50,000Repayment Terms24 to 60 monthsTime to Receive Funds1 business dayMoneyGeek Score 90
AchieveMinimum Credit Score620APR Range8.99% to 35.99%Loan Amount Range$5,000 to $50,000Repayment Terms24 to 60 monthsTime to Receive FundsSame Day MoneyGeek Score 92
Happy MoneyMinimum Credit Score640APR Range11.72% to 17.99%Loan Amount Range$5,000 to $40,000Repayment Terms24 to 60 monthsTime to Receive Funds3 to 6 Business DaysMoneyGeek Score 94

What to Do if Your Loan Application Is Denied in Arizona

It's not uncommon to face a personal loan application denial in Arizona, but this doesn't halt your borrowing journey. Here are some measures to enhance your chances for approval on future applications.

Find out the reason for the denial

A loan application may get rejected due to a poor credit score, high debt-to-income ratio, low income level or inaccuracies in your application. Review the lender's feedback to address these areas for your next application.

Modify your loan terms

Talk to your lender about changing the loan amount or repayment terms to enhance your chances of approval.

Find another lender

Lenders have different approval criteria. Research lenders and compare these features:

  • Eligibility requirements: Credit score, income level, debt-to-income ratio and employment history vary by lender.
  • Interest rates: Seek lenders with competitive rates to save money, especially with bad credit.
  • Additional fees: Look for lenders without origination, late or prepayment fees, which can be costly.
  • Loan terms: Compare short-term and long-term options for repayments.
  • Customer service and reputation: Research a lender's support and track record before choosing one for personal loans.
Look for alternatives

Explore other borrowing options suitable for bad credit, such as secured loans, credit union loans or family loans.

Improve your credit score

Enhance your creditworthiness over time by improving your credit score through methods like paying bills promptly, reducing debt and checking credit reports for errors.

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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 Arizona

When shopping for personal loans in Arizona, it's common for borrowers, especially those with bad credit, to have questions or concerns. To assist in this process, 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 Arizona?
Which lender in Arizona has the lowest APR rates for personal loans?
Which lender in Arizona has the lowest minimum credit score requirement for personal loans?
How long does it take to get a bad credit loan in Arizona?
Can I pay off my personal loan early in Arizona?
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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.