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Best Bad-Credit Loan Lenders in Minnesota

To rank the best bad-credit loan lenders in Minnesota, MoneyGeek reviewed over 30 personal loan providers for key data points, including interest rates, minimum credit score criteria, loan amounts and repayment terms.

According to our research, Upstart is the best bad-credit loan lender in the state, accepting borrowers with credit scores as low as 300. Upgrade offers the second-best bad-credit loan in Michigan, thanks to its relatively low credit score requirement and flexible repayment terms.

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

Before applying for a personal loan, it’s important to reflect on your funding needs and financial goals. In Minnesota, the average personal loan debt is $15,391. To make the best decision for you, consider your funding needs and research lenders.

MoneyGeek recommends taking the following steps to find the best bad-credit loan in Minnesota:


Ask Yourself the Important Questions

Before researching lenders, answer the following questions to figure out if a bad-credit loan can meet your needs:

  • How much funding do you need? The loan amount you need will impact the lenders available to you. This amount is also important to know to avoid overborrowing and paying more interest.
  • What’s your credit score? Your credit score will impact your loan eligibility as well as the APR you receive on your loan. Consider improving your score before applying for a loan to receive a lower interest rate.
  • Can you afford the monthly payments? Approximate your monthly payment amount to ensure you can make your payments on time.
  • Do you have existing debts? To receive the best loan terms, consider repaying your debt before taking on more.
  • Is your debt manageable through other means? Always choose low-interest or interest-free options when possible, like taking out a low-interest credit card or borrowing from friends and family.

Do Your Research

Before applying, ensure that you are well aware of your options. Compare lenders for their APRs, repayment terms, loan amounts, eligibility requirements and more to find the best option for you. MoneyGeek's guide can serve as a useful starting point, but our recommendations are based on general borrowers, not your unique situation.


Read the Fine Print

Different lenders have different requirements, terms and limits. Therefore it’s essential to read the fine print. Review the document for origination fees, late payment fees, check payment fees and prepayment penalties. While some details may appear insignificant, understanding them will allow you to budget for any added costs, or persuade you to choose a different provider.



Don’t make the mistake of applying for the very first loan that you come across. Personal loans are a significant commitment — most take between two and four years to repay. After reviewing your options, you should wait a few days before applying. Think through your options and consider whether acquiring a bad-credit loan in Minnesota is your best choice.



After you’ve completed the steps above, you can submit an application. To save time, gather all the required documents in advance, like proof of identification, address, employment and income. With some lenders, you may be able to submit an online application, while others require that borrowers apply in person or over the phone.

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

Your application for a bad-credit loan in Minnesota may be denied for several reasons, including a low income, poor credit score or an incomplete application. If you’re denied a loan, you should contact the lender to find out why.

Sometimes, you can modify the terms of your loan, like the loan amount or repayment period, to have it approved. Applicants denied due to a low credit score should improve their score before reapplying. That way, they can avoid further negatively impacting their credit score from lenders’ hard credit checks.

If you’re in a pinch for funds, you may be tempted to take out a payday loan. However, MoneyGeek strongly cautions 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

Take into account that personal loans are normally repaid in monthly installments that include interest. Before submitting an application, you should calculate your monthly payment amount to see if it fits within your budget. Use MoneyGeek’s personal loan calculator to estimate your monthly loan amount.



+ $114.98


+ $8.33

Origination Fee Percentage


Origination Fee Fixed amount


Total monthly payment


FAQs About Bad-Credit Loans in Minnesota

Your funding needs and financial profile will determine the best bad-credit loan in Minnesota for you. MoneyGeek answered the most frequently asked questions about bad-credit loans in the state to help you make a well-informed decision.


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MoneyGeek compared over 30 personal loan providers for more than 35 different data points in six categories — loan availability, flexibility, affordability, lender transparency, customer friendliness and customer support.

To rank the best providers, we highlighted factors that we felt had the greatest impact on a borrower’s choice of lender, including loan amounts, APR ranges, eligibility requirements, fund disbursement times and fees.

Since MoneyGeek values you, the consumer, we also took into account each lender’s customer service and business ratings, as well as convenience features like payment options, prequalification and mobile apps.

Our suggestions are made with your best interests in mind, following careful consideration and analysis. MoneyGeek’s bad-credit loan recommendations and expert tips will help you make a well-educated decision.


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.