mglogo icon

Best Bad-Credit Loan Lenders in Colorado

Qualifying for a personal loan may be challenging if you have bad credit. It may feel especially challenging if you live in a state like Colorado, where having bad credit puts you in the minority. While the average credit score in the state is 728, those with bad credit can still obtain a personal loan for their funding needs.

MoneyGeek reviewed over 30 personal loan providers for more than 35 key data points, including APR ranges, repayment terms, loan amounts and eligibility requirements, to find the best bad-credit loan lender in Colorado. Based on our research, we selected Upstart as our top choice, with Upgrade earning our runner-up spot.

Best Overall Bad-Credit Loan in Colorado: Upstart

  • Upstart

    • 3.22% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds


Runner-Up for Best Bad-Credit Loan in Colorado: Upgrade

  • Upgrade

    • 5.94% to 35.47%APR Range
    • 560Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds


How to Choose the Best Bad-Credit Loan in Colorado for You

Before taking out a personal loan, it’s important to determine if it’s the best option for you. When used properly, a bad-credit loan can help improve your financial situation, allowing you to pay for emergency expenses and increase your credit score. However, if you already have existing debt, taking on more may not set you up for financial success.

To make the best decision regarding your bad-credit loan in Colorado, we recommend taking the following steps:


Ask Yourself the Important Questions

When it comes to getting a personal loan, understanding your funding needs and financial goals can save you time and money.

  • How much funding do you need? Only borrow the amount you need. This will help you avoid paying more interest.
  • What’s your credit score? Your credit score will impact your loan eligibility and the rates available to you. If you aren’t in need of funding immediately, consider improving your credit score first to receive the best rates and terms.
  • Can you afford the monthly payments? Personal loan calculators help you figure out your monthly payments. Ensure that your loan’s monthly payment fits within your budget.
  • Do you have existing debts? Consider repaying your existing debt before taking on more.
  • Is your debt manageable through other means? When possible, we suggest using zero- or low-interest options, like borrowing from friends and family or taking out a low-interest credit card.

Do Your Research

To find the best lender for your needs, it’s important to compare lenders for their rates, fees, terms, eligibility requirements and other features. MoneyGeek’s research is a great place to start, but our recommendations are based on generic borrower profiles, rather than your unique situation. As such, there’s no substitute for your own research.


Read the Fine Print

The fine print of your loan agreement will detail any fees or penalties associated with your loan. These may include, but aren’t limited to, origination fees, prepayment penalties, late fees and check payment fees. It’s important to be aware of these costs in advance so that you can budget accordingly or choose a different lender.



After you’ve read and understood the terms of your loan, it’s important to wait a few days before you apply. A loan is a long-term commitment — most take between two and four years to repay — so it’s important that you understand what you’re getting into. Take this time to reflect on your funding needs and alternative options.



If after a few days, you’re still confident in your lender choice, you can submit your application. To save time, gather all of the necessary documents in advance. Lenders typically require borrowers to provide proof of identification, employment, income and address. With some lenders, you can complete the entire application process online. While these online-only lenders allow borrowers to apply for a loan from virtually anywhere, some borrowers may prefer the comfort of applying over the phone or in person.

What to Do if You Can’t Get a Bad-Credit Loan in Colorado

Personal loan lenders commonly reject applications due to issues with credit scores, incomes, DTI ratios and application details. If you’re rejected for a bad-credit loan in Colorado, don’t despair.

First, contact your lender to find out why your application was rejected. You may be able to make modifications to your application, like reducing the loan amount or shortening your repayment term, to have it approved. Depending on the lender, you may be able to add a co-applicant.

If your application was rejected due to a low credit score, this may not be a quick fix. You may consider applying with a different lender with lenient eligibility requirements, but MoneyGeek advises against this, as it may lower your credit score further. Most lenders perform a hard credit pull when you apply, which will cause your credit to dip.

During a financial emergency, you may also come across a variety of short-term solutions like payday loans. While these loans may have flexible requirements, they could end up costing you even more money due to their short repayment terms and high interest rates.

Calculate Your Monthly Payment

After you’re approved for a loan, you’ll begin making monthly payments plus interest. It’s important to plan for this recurring cost ahead of time so you can budget accordingly. Use MoneyGeek’s calculator to estimate your monthly payment amount.



+ $114.98


+ $8.33

Origination Fee Percentage


Origination Fee Fixed amount


Total monthly payment


FAQs About Bad-Credit Loans in Colorado

MoneyGeek answered some of the most frequently asked questions about bad-credit loans in Colorado to help you make the best financial decision.


mglogo icon

MoneyGeek evaluated over 30 personal loan lenders for more than 35 individual data points in six key categories: loan affordability, flexibility, consumer friendliness, accessibility, customer service and lender transparency.

We considered several individual data points within each ranking category that we believe are the most important when selecting a personal loan lender. These include, but aren’t limited to, available loan amount, APR range, minimum income and credit score requirement, application fees and disbursement time.

In addition to these criteria, we considered each lender's business rating, customer service and availability of features that improve the overall consumer experience, such as prequalification, payment options and mobile apps.

At MoneyGeek, we strive to provide useful resources and recommendations to help our readers make better financial decisions. We hope that our insider tips and expert advice enable you to find the ideal lender for your needs.


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.