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Best Bad-Credit Loan Lenders in Indiana

While it may be easy for consumers with a credit score of 712 — the average credit score in Indiana — to qualify with a lender, borrowers with bad credit may find it challenging. That’s where MoneyGeek comes in.

We reviewed over 30 personal loan lenders for key data points, such as APR ranges, repayment terms, loan amount and disbursement times, to find the best bad-credit loan lender in Indiana. Based on our research, Upstart is the best bad-credit lender in the Hoosier State, while Upgrade is the second-best bad-credit lender.

Best Overall Bad-Credit Loan in Indiana: 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 Indiana: 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 Indiana for You

Taking out a personal loan can help you cover unplanned expenses, like unexpected medical bills, as well fund leisure activities, like vacations. In Indiana, the average personal loan debt is $13,636. Depending on your funding needs and current debt, a bad-credit loan may set you up for financial success or financial ruin.

To make a well-informed decision about your bad-credit loan in Indiana, we recommend taking the following steps:


Ask Yourself the Important Questions

Before applying, we recommend assessing your funding needs and current financial situation. At a minimum, ask yourself the following questions:

  • How much funding do you need? To reduce the amount you’ll pay in interest, only borrow what you need. Your loan amount will also impact the lenders available to you so knowing this number can help you narrow down your lender choice.
  • What’s your credit score? Your credit score will impact your loan eligibility and the rates available to you. With a higher score, you will likely receive a low interest rate.
  • Can you afford the monthly payments? It’s important to ensure that your monthly payment amount fits within your budget. You will pay less in interest with a higher monthly payment, but you may have to make lifestyle changes to afford it.
  • Do you have existing debts? Consider repaying your existing debt before taking on more.
  • Is your debt manageable through other means? When possible, explore low-interest or interest-free options, like borrowing from friends and family or taking out a low-interest credit card.

Do Your Research

It’s important to research and compare lenders for their rates, terms, fees and eligibility requirements to find the best option for you. While we can tell you which companies are ideal for the general borrower, we can’t claim to know what’s best for your unique situation. To make sure you’re getting the best deal possible, it’s important that you research lenders with your preferences, financial goals and budget in mind.


Read the Fine Print

After you’ve short-listed lenders, it’s important to read the fine print of their loan agreements. The fine print details additional costs, like those for loan origination, prepayment and late payments, that may not be explicitly stated on a lender’s website. Taking the time to review and understand these fees will help you save money in the long term, as you can opt for a lender with no origination fees or plan for these fees in your budget.



Because a loan is a long-term commitment — most take between two and four years to repay — it’s important that you’re confident in your lender choice. Take a few days to think through your options. During this time, you can contact your chosen lender with any questions or explore alternative funding options.



Once you’re confident in your lender choice, you can submit your application. To save time, gather all required documents in advance. These may include proof of identification, employment, address and income. Depending on your lender, you may be able to apply over the phone, in person or online. While online-only lenders are often convenient for on-the-go borrowers, less tech-savvy consumers may prefer a lender with physical locations.

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

Lenders commonly reject applications for bad-credit loans in Indiana for several reasons, including credit score issues, high DTI ratios and incomplete application details. If your application for a loan is rejected, don’t panic.

First, contact the lender to find out why it was denied. You may be able to adjust the terms of your loan, like the loan amount or repayment term, to have it approved. Borrowers who were rejected due to a low credit score should improve their credit before reapplying. This will help them avoid negatively impacting their credit score further from lenders’ hard credit checks.

Payday loans may appear helpful when you're in a bind, but they are not the solution. These loans, while easy to qualify for, feature high interest rates and short repayment terms.

Calculate Your Monthly Payment

With a bad-credit loan, you’ll have to make monthly payments plus interest. Because of this, it’s important to approximate your monthly payment first to budget for this recurring cost. Use MoneyGeek’s personal loan calculator to get a better idea of how much you will pay each month.



+ $114.98


+ $8.33

Origination Fee Percentage


Origination Fee Fixed amount


Total monthly payment


FAQs About Bad-Credit Loans in Indiana

If you have bad credit, it can be challenging to get a personal loan in Indiana. Fortunately, MoneyGeek answered borrowers’ most frequently asked questions to simplify the process.


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To find the best bad-credit loan lenders, we reviewed over 30 personal loan lenders for more than 35 individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Within these categories, we highlighted key data points that we felt had the most impact on a borrower’s choice of lender, including APR ranges, available loan amounts, minimum credit score and income requirements, application fees, fund disbursement time and more.

Since your loan experience matters to us, MoneyGeek factored in each lender’s customer service and business ratings, as well as additional features like mobile apps, prequalification and payment options.

At MoneyGeek, we are committed to providing consumers with up-to-date information and expert tips to simplify complex financial topics. Our recommendations and guidance will help you make a more informed decision.

  • Better Business Bureau. "Upgrade." Accessed November 4, 2022.
  • Upgrade. "Personal Loans." Accessed November 4, 2022.
  • Upstart. "Homepage." Accessed November 4, 2022.

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.