Best Loans for Bad Credit in North Dakota for 2024

Enter your ZIP code to get started


Free. Simple. Secure.

Banner image
fact checked icon
Reviewed byAlvin Yam, CFP
fact checked icon

Updated: April 15, 2024

Advertising & Editorial Disclosure

Happy Money is the best personal loan lender for bad credit in North Dakota, with a MoneyGeek score of 93 out of 100. It offers competitive interest rates, flexible payment options and credible transparency about loan terms and processes. As the runner-up, Avant showcases its strengths with its MoneyGeek score of 93, providing broad payment options, a quick application and approval process and strong customer service.

MoneyGeek reviewed three personal loan lenders in North Dakota that disclosed having minimum credit score requirements between 580 and 640, identifying the best personal loans for bad credit. While Happy Money and Avant lead the ranks, other lenders such as First Community Credit Union, Capital Credit Union and Town & Country Credit Union also offer personal loans in North Dakota and come with local service advantages that consumers may find beneficial.


Calculate Your Monthly Payment in North Dakota

In North Dakota, the average new account balance for personal loans is $10,675, according to TransUnion's Credit Industry Snapshot report. Repayment of personal loans typically involves fixed monthly payments over a set period until the loan is paid in full.

If you have a lower credit score, understand your monthly loan obligations to maintain or improve your credit standing. To accurately estimate your loan payments, consider using MoneyGeek's personal loan calculator, a helpful tool for financial planning.


Best Bad Credit Loans by Credit Score in North Dakota

The average credit score in North Dakota is 733, higher than the national average of 715 based on Experian data.

Having a bad credit score does not completely bar you from obtaining a personal loan; options are still available. Some lenders in North Dakota are open to working with individuals with lower credit scores, but be prepared for potentially higher interest rates and less favorable loan terms. Refer to the table below to explore personal loan lenders in North Dakota that might accommodate your credit score range.


What to Do if Your Loan Application Is Denied in North Dakota

Personal loan application denials are common, especially when your credit score is lower than average — but it doesn't have to halt your borrowing journey. Here's what you can do to enhance your chances of approval for future applications.


Find out the reason for the denial

Lenders may reject your loan application for various reasons, including a low credit score, a high debt-to-income ratio, insufficient income or mistakes in your application. Review these reasons to address your financial weaknesses and reduce the chance of further denials.


Modify your loan terms

Ask the lender if changing the loan amount or repayment terms might lead to approval. This can sometimes make the loan more aligned with the lender's risk profile.


Find another lender

Different lenders have different loan approval criteria. Compare options to find the right lender for your financial situation and credit history. Factors worth considering include:

  • Eligibility requirements: Lenders have varied thresholds for credit score, income, debt-to-income ratio and employment history. Knowledge of these can guide your application process.
  • Interest rates: Seek out lenders offering competitive rates to save on costs, particularly important when your credit is less than perfect.
  • Additional fees: Ascertain whether lenders charge fees such as origination, late payment or prepayment.
  • Loan terms: Lenders offer varying repayment terms for personal loans. Understand the implications of selecting either short or long terms.
  • Customer service and reputation: Investigate the quality of customer service and overall reputation of potential lenders. These aspects can significantly impact your borrowing experience.

Look for alternatives

There could be other borrowing options more suited to individuals with a low credit score. Some alternatives include secured loans, credit union loans or peer-to-peer lending. Explore these possibilities, because they might offer more favorable terms for your credit situation.


Improve your credit score

Enhancing your creditworthiness over time may help you secure a personal loan in the future. Ways to begin improving your credit score include paying bills on time, reducing debt and checking your credit report for errors.

mglogo icon

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 North Dakota

When shopping for personal loans in North Dakota, it's common for borrowers, especially those with bad credit, to have questions or concerns. We compiled answers to some frequently asked questions, offering clarity and guidance to help you make well-informed decisions.

The best personal loan lender for bad credit in North Dakota is Happy Money with a MoneyGeek score of 93 out of 100.

Prosper offers the lowest starting APR at 8.99%. Borrowers with excellent credit are more likely to receive this rate.

With a minimum credit score requirement of 580, Avant has the lowest credit threshold for personal loans in North Dakota.

The timeline to get a bad credit loan in North Dakota depends on the lender, but some offer next-day funding, while others may take several business days to a week.

You can pay off your personal loan early in North Dakota. However, check with your lender regarding any potential prepayment penalties.

Shield Insurance

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.