Best Loans for Bad Credit in Oklahoma for 2024

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Reviewed byAlvin Yam, CFP
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Reviewed byAlvin Yam, CFP
Edited byRae Osborn
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Updated: April 26, 2024

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Happy Money stands out as the top personal loan lender for bad credit in Oklahoma, with a MoneyGeek score of 94 out of 100. It provides competitive interest rates, has a quick application and approval process and is credible and transparent about its loan terms and process. As the runner-up, Avant has a MoneyGeek score of 92 out of 100, offers the broadest payment options, has a fast application and approval process and is recognized for its strong customer service.

While Happy Money and Avant lead the rankings, other lenders not featured in this list can also be suitable options. If you're seeking localized services, consider Oklahoma Central Credit Union, Oklahoma's Credit Union and Tinker Federal Credit Union for your loan needs. MoneyGeek reviewed four personal loan lenders in Oklahoma that require a minimum credit score between 580 and 640 to find the best personal loans for bad credit.


    Overall Best Bad Credit Loan Lender in Oklahoma

  • Happy Money

    • 94MoneyGeek Score
    • 11.72% to 17.99%APR Range
    • 640Minimum Credit Score
    • $5,000 to $40,000Loan Amount Range
    • 24 to 60 monthsRepayment Terms

    Happy Money is MoneyGeek's pick for the best personal loan lender for bad credit in Oklahoma, with a MoneyGeek score of 94 out of 100. It is not a lender but a fintech company working with lending partners insured by NCUA to originate loans. Targeting bad credit borrowers, it offers loans ranging from $5,000 to $40,000 and funds can be received as soon as the next day, requiring a minimum credit score of 640. Happy Money allows flexible repayment periods between 24 to 60 months and doesn't impose fees for late or early repayment. Potential applicants should note it only provides loans for debt consolidation and charges an origination fee.


    • Doesn't charge late, early repayment, bounced check, failed ACH or other fees
    • Flexible repayment terms from 24 to 60 months
    • Offers to pay creditors directly


    • Only offers loans for debt consolidation
    • Charges an origination fee
    • $40,000 borrowing limit
    Happy Money

    Runner-Up for Best Bad Credit Loan Lender in Oklahoma

  • Avant

    • 92MoneyGeek Score
    • 9.95% to 35.99%APR Range
    • 580Minimum Credit Score
    • $2,000 to $35,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms

    Avant is the runner-up for the best bad credit loan lender in Oklahoma with a MoneyGeek score of 92 out of 100. It works with WebBank, a state-chartered, member FDIC bank, to originate personal loans. Avant offers personal loans to borrowers with a minimum credit score of 580. The loan amounts range from $2,000 to $35,000 and borrowers typically receive funds the next day. Two beneficial aspects for applicants include no prepayment penalty and flexible repayment terms from 12 to 60 months. However, applicants should be aware of the administration fee up to 9.99% and the presence of late fees and dishonored payment fees.


    • Doesn't charge a prepayment penalty
    • Flexible repayment terms between 12 to 60 months
    • Offers next-day funding


    • Charges an administration fee up to 9.99%
    • Has late fees and dishonored payment fees
    • Doesn't allow co-signers or joint applications

Calculate Your Monthly Loan Payment in Oklahoma

According to the latest data from TransUnion's Credit Industry Snapshot, the average new account balance for personal loans in Oklahoma is $3,367. When you take out a personal loan, you agree to pay back the borrowed amount plus interest in regular monthly installments over a specified loan term. This consistent repayment structure allows you to manage your finances by anticipating monthly payment amounts.

Accurately calculating your monthly loan payments is particularly crucial if you have bad credit, as it will ensure that you can manage the loan and potentially improve your credit score through timely repayments. To help estimate your loan payments, you can utilize MoneyGeek's personal loan calculator, which is an easy-to-use tool for planning and budgeting.


Best Bad Credit Loans by Credit Score in Oklahoma

The average credit score in Oklahoma is 696, which is below the national average of 715, according to Experian data.

Even with a bad credit score, obtaining a personal loan is possible. Lenders in Oklahoma may consider applicants with poor credit, but be prepared for higher interest rates and less advantageous terms. Review the table below to discover personal loan lenders in Oklahoma that align with your credit score.

What to Do if Your Loan Application Is Denied in Oklahoma

It's not uncommon to face a personal loan application denial in Oklahoma, but this doesn't halt your borrowing journey. Understanding the next steps can help you navigate this setback. Here are some measures to enhance your chances for approval on future applications.

Find out the reason for the denial

If your loan application was denied, it could be due to a poor credit score, a high debt-to-income ratio, insufficient income or errors in your application. Reviewing the reasons for the denial helps you understand areas that need improvement for future applications.

Modify your loan terms

Consider speaking with your lender to adjust the loan amount or the repayment terms. This may increase the likelihood of approval.

Find another lender

Criteria for loan approval vary across different lenders. Shopping around lets you examine various factors to select an appropriate lender for your needs and credit history. Consider the following:

  • Eligibility requirements: Lenders have diverse prerequisites for credit score, income level, debt-to-income ratio and employment history. Awareness of these requirements is key.
  • Interest rates: Seek lenders with competitive rates, particularly if you have lower credit.
  • Additional fees: Some lenders impose fees like origination, late or prepayment penalties, while others do not. Knowing these fees is beneficial, especially if your credit is less than ideal.
  • Loan terms: Lenders offer varying repayment terms. Deciding between a short or long term affects your repayment plan.
  • Customer service and reputation: Research the lender's customer service quality and reputation before making a decision.
Look for alternatives

There might be alternatives to personal loans that could be more suitable for borrowers with bad credit, such as secured loans, credit builder loans or borrowing from family and friends. Assessing these alternatives could provide more suitable options.

Improve your credit score

Working on improving your credit score is a proactive approach to enhancing your eligibility for a personal loan. Some methods include paying bills on time, reducing debt and checking your credit report for errors.

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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 Oklahoma

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

Who is the best personal loan lender for bad credit in Oklahoma?
Which lender in Oklahoma has the lowest APR rates for personal loans?
Which lender in Oklahoma has the lowest minimum credit score requirement for personal loans?
How long does it take to get a bad credit loan in Oklahoma?
Can I pay off my personal loan early in Oklahoma?

Experian. "What Is the Average Credit Score in the US?." Accessed April 11, 2024.

TransUnion. "Credit Industry Snapshot." Accessed April 11, 2024.

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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.