mglogo icon

Best Bad-Credit Loan Lenders in Rhode Island

Use the data from our analysis to choose the best bad-credit loan for your financial needs. MoneyGeek looked at the APR ranges, credit score requirements, loan amounts and repayment terms when ​​analyzing bad-credit loans in Rhode Island.

Based on our study, the top lender for bad-credit loans in Rhode Island is Upstart, which accepts borrowers with bad or incomplete credit. Upgrade is our runner-up.

Although some lenders provide cheap rates for personal loans in general, those with bad credit should not expect to receive loans with low APRs.

Best Overall Bad-Credit Loan in Rhode Island: 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 Rhode Island: 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 Rhode Island for You

Before applying for a personal loan, weigh the benefits of all your options. The average personal loan debt in Rhode Island is approximately $14,599, so you are not alone in considering this type of loan. Evaluate the fees, loan amounts, interest rates and lending conditions of each option.

MoneyGeek advises that you consider the following aspects as you fill out your paperwork for a bad-credit loan in Rhode Island.


Ask Yourself the Important Questions

Find out if a bad-credit loan is the best choice for you. Then, search for lenders who have loans that meet your needs. It can be helpful to know what questions to ask. Start by answering the following:

  • What is your credit score?
  • How much cash are you asking for?
  • Are the monthly expenses manageable for you?
  • Do you currently have any debts to anyone?
  • Have you thought about any alternate debt-repayment strategies?

Do Your Research

A bad-credit loan requires commitment. Research is essential because you must repay the loan within a specific timeframe. Make sure you are fully aware of your options before applying.

Comparing interest rates from other lenders is always beneficial. Remember that MoneyGeek’s suggestions might not be the best option for all borrowers, as these are simply general recommendations. To locate the best bad-credit loan in Rhode Island for you, compare all available options.


Read the Fine Print

Lenders have various requirements, terms and restrictions — that’s why it is crucial to carefully examine the fine print. Some customers make the error of overlooking certain aspects of their loans that can cost them significantly in the long run.

While some details might appear unimportant, researching every detail will help you avoid any mistakes and ultimately save you money. Always take a look at the costs, including origination fees, prepayment penalties and more.



Don't submit an application for the first loan you come across. Personal loans demand dedication. For several years, you will be required to repay the borrowed sum with interest.

Wait a day or two before applying after looking over your alternatives. Consider your options carefully and decide if obtaining a bad-credit loan is the best course of action for your situation.



Select the lender you believe is most suitable for your needs after conducting an extensive study. Take a glance at their application procedure and prepare the necessary documents. Lenders typically want proof of identification, income and address.

For many lenders, online loan applications are possible. You can also contact the lender by phone or in person if you need any clarifications.

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

For a number of reasons, including insufficient income, bad-credit loans in Rhode Island may be denied. Getting denied a personal loan doesn't mean you have to give up. If you've had a loan request rejected, it's critical to assess the reasons.

MoneyGeek suggests getting in touch with your lender to learn the reason your loan application was rejected and to see if there is anything you can do to change the loan's conditions. You might, for instance, shorten the loan term or reduce the loan amount.

If you can't convince them to reconsider your application or if you need the money right away, you might try to get a loan from another lender. However, it is always advantageous to concentrate on strengthening your application by first addressing the reasons for your initial rejection.

Moreover, payday loans must be avoided. Although you might be able to receive cash quickly with a payday loan, the interest rate is quite high and the repayment time is very short. These loans often make borrowers’ financial situations significantly worse.

Calculate Your Monthly Payment

Keep in mind that personal loans must be repaid monthly in interest-bearing installments for a period of several years. Use the MoneyGeek personal loan calculator to estimate your monthly payment before submitting an application. Enter the details of your loan to obtain an approximation of your monthly payment.



+ $114.98


+ $8.33

Origination Fee Percentage


Origination Fee Fixed amount


Total monthly payment


FAQs About Bad-Credit Loans in Rhode Island

The best bad-credit loan in Rhode Island for you will depend on your individual needs as well as other credit and income considerations. MoneyGeek explains some important facts by responding to frequently asked questions regarding loans for those with poor credit.


mglogo icon

Using 35+ distinct data points in six categories — loan accessibility, flexibility, affordability, lender transparency, consumer friendliness and customer service — we evaluated more than 30 bad-credit loan lenders.

MoneyGeek took into account a number of distinct data elements that we believe are most important when selecting a lender under each ranking criterion area. These variables include the maximum loan amounts, APR ranges, minimum income and credit requirements, disbursement periods and application costs.

Because we value you, the consumer, at MoneyGeek, we look into each lender's industry reviews, customer service reputation and any other features that could make your journey simpler and more convenient, such as payment methods, prequalification and mobile apps.

Our recommendations are made after considerable deliberation and evaluation, always keeping your best interests in mind. MoneyGeek’s recommendations on bad-credit loans are provided to assist you in selecting a lender that best suits your requirements.


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.