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Best Bad-Credit Loan Lenders in Maryland

A bad-credit personal loan can be used to fund a variety of expenses, consolidate debt or pay for medical bills. In Maryland alone, residents have an average personal loan debt of $16,025, indicating that it’s relatively common to take out a personal loan in the state.

To help you find the best bad-credit lender for your needs, MoneyGeek reviewed over 30 lenders for more than 35 key data points, including APR ranges, loan amounts, repayment terms and more. We found that Upstart offers the best bad-credit loan, followed by Upgrade.

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

Borrowers in need of funding relatively quickly may benefit from a personal loan. However, before researching lenders, you should reflect on whether a bad-credit loan is the best option for you. Evaluate your current finances and funding needs to see if a personal loan will set you up for success. To make the best decision, we recommend taking the following steps:


Ask Yourself the Important Questions

You may save time and money by reflecting on the following questions before researching lenders:

  • How much funding do you need? It’s important to only borrow the amount you need to avoid paying more interest. Your loan amount will also help you narrow down your lender options, as lenders have different allowable amounts.
  • What’s your credit score? Your credit score will impact your loan eligibility as well as the rates available to you. If you aren’t in urgent need of funds, consider improving your score first before applying for a bad-credit loan.
  • Can you afford the monthly payments? It’s also important to consider how much you can afford to pay each month. Before applying for a loan, approximate your monthly payment to see if it fits within your budget.
  • Do you have existing debts? It may be wise to consolidate or refinance your debt before applying for a new loan.
  • Is your debt manageable through other means? Always explore low-interest or interest-free options before taking out a loan. Consider borrowing money from friends and family or taking out a low-interest credit card.

Do Your Research

A bad-credit loan is a significant financial commitment, so it’s important to conduct extensive research before choosing a lender. Compare lenders for their APR ranges, repayment terms, fees and more to find the best option for you. MoneyGeek’s research is a great starting point, but our recommendations are based on generic borrower profiles, not your unique situation.


Read the Fine Print

Always read the fine print of your loan agreement. This document outlines additional costs, like origination fees, late payment fees and prepayment penalties. While seemingly insignificant, these fees can significantly increase the overall cost of your loan, especially if you haven’t budgeted for them in advance.



It can be tempting to immediately apply with your chosen lender, but it’s important to wait a few days. A loan is a long-term commitment that takes between two and four years to repay, so it’s important that you’re confident in your decision. During this time, you can reach out to your lender to have them clarify any questions or consider alternative funding options.



After you’ve completed the steps above, you can submit an application. To save time, gather any required documents in advance. Lenders generally require that borrowers provide proof of identification, address, income and employment. Depending on your lender, you may only be allowed to submit an online application, while others may still permit you to apply over the phone or in person.

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

Your application may be rejected due to inaccurate information, inconsistent employment or a high DTI ratio. If your application is rejected, you should contact the lender to find out why.

You may be able to adjust certain terms of your loan, like the loan amount or repayment period, to have it approved. However, if your application was rejected due to a low credit score, this may not be an easy fix. We recommend improving your credit score before reapplying to increase the likelihood of your application being approved.

If your application for a bad-credit loan in Maryland is denied, you may be tempted to take out a payday loan. However, MoneyGeek strongly advises against this, as these loans feature high interest rates and short repayment terms that can cost borrowers more money in the long run.

Calculate Your Monthly Payment

Typically, you’ll repay your loan in monthly installments plus interest. Prior to applying for a loan, it’s important to budget for this recurring cost. Use MoneyGeek's personal loan calculator to estimate your monthly payment.



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+ $8.33

Origination Fee Percentage


Origination Fee Fixed amount


Total monthly payment


FAQs About Bad-Credit Loans in Maryland

To choose the most suitable Maryland bad-credit loan provider, you should first consider your financial standing and funding requirements. MoneyGeek answered some of the most frequently asked questions about bad-credit loans in Maryland to help you make a well-informed decision.


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

Within each category, we highlighted key data points that we felt had the greatest impact on a borrower’s choice of lender. These included APR ranges, maximum loan amounts, minimum credit scores, income levels, application costs and disbursement times.

We value you, the consumer, so we also considered each lender's customer service and business ratings as well as the availability of convenience features like prequalification, payment options and mobile apps.

Our selections were made with your best interests in mind after thorough analysis. We strive to provide up-to-date information and expert recommendations to help you make smart financial decisions.


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.