📋 Personal Loan Requirements —
Personal Loan Requirements —
What You Need to Qualify
See exactly what lenders require. Most people qualify in 2 minutes. Bad credit OK from 500. No job required. Apply free — soft check only, zero score impact.
Apply Now — Check If You Qualify →
✓ Most people qualify · ✓ Bad credit OK · ✓ No job required · ✓ No hard pull
Home › Personal Loan Requirements
Last updated: · Reviewed by Money247 Editorial Team
The requirements for a personal loan through Money247.com are simpler than you think — and almost certainly less strict than you fear. No collateral. No job required. Bad credit accepted from 500. Income-only options with no minimum score available. Most people who apply receive at least one real offer. Here is the complete checklist of what you need.
Complete Personal Loan Requirements Checklist
Check off what you have — most people qualify immediately.
✅
Age 18 or Older Required
You must be 18 or older to enter into a loan agreement. No exceptions.
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US Bank Account Required
An active US checking account for direct deposit of funds and automatic monthly payments. Most major banks and online banks including Chime accepted.
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Regular Income or Bank Deposits Required
Any regular income deposited to your bank account qualifies — employment, benefits, Social Security, gig work, rental income, or cash deposits. A traditional job is not required.
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Social Security Number or ITIN Required
SSN required at most lenders. ITIN accepted at select lenders for immigrants and non-citizens. Both qualify at lenders in the Money247.com network.
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Credit Score 500+ Required at Most — Not All
Most bad credit lenders require a minimum score of 500. Income-only lenders in the Money247 network have no minimum credit score requirement at all — bank deposits are the only criteria.
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Government-Issued Photo ID Helpful — May Be Required
Driver's license, passport, or state ID. Some lenders require identity verification — having it ready speeds up the process.
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Income Documentation Helpful — Sometimes Required
Pay stubs, bank statements, tax returns, or benefit award letters. Many online lenders accept bank deposit history alone without formal pay stubs.
Online Lenders vs Banks — Requirements Compared
Min Credit Score660–720500+ (none for income-only)
Employment RequiredUsually yesNo — any income OK
CollateralSometimesNever — fully unsecured
Branch VisitOften requiredNever — 100% online
Decision Speed2 to 7 daysMinutes — instant
Funding Speed3 to 5 daysSame day — before 2 PM
All Income Types That Qualify
You do not need a traditional W-2 job. All of these count as income.
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Full-time or part-time employment
✓ Accepted
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Social Security retirement or SSDI/SSI
✓ Accepted
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Gig work — Uber, DoorDash, Instacart
✓ Accepted
🤝
Unemployment benefits
✓ Accepted
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Child support and alimony
✓ Accepted
💰
Pension and retirement income
✓ Accepted
🎖️
Military pay and VA disability
✓ Accepted
💻
Freelance and self-employment income
✓ Accepted
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Cash income deposited to bank account
✓ Accepted
You Probably Qualify — Check Free Right Now
Most people who have a bank account and any regular income qualify for at least one offer. Apply free in 2 minutes — soft check only, zero score impact, instant results from 300+ lenders.
Apply Free — Check If I Qualify →
✓ Soft check only · ✓ Zero score impact · ✓ Most people qualify · ✓ Free
Best Lender — Lowest Requirements —
⭐ #1 Lowest Requirements — Money247 Network
Money247 — Easiest Qualification Available
Easiest to Qualify300+ Lenders
500+Min Score
AnyIncome Type
NoCollateral
Why it has the lowest requirements: 300+ lenders cover every borrower profile — from income-only lenders with no minimum score to premium lenders for excellent credit. If you have a bank account and any regular income you almost certainly qualify for at least one offer. Soft check only. Same-day deposit. No collateral ever.
No collateral required
No job required — any income OK
Scores from 500 accepted
Income-only — no min score available
Soft check — zero score impact
100% online — no branch visit
Same-day deposit available
All 50 states served
Apply Free — Check If I Qualify →
Frequently Asked Questions
What are the requirements for a personal loan?+
Basic requirements at Money247.com: age 18 or older, active US bank account, any regular income or deposits, SSN or ITIN, and a credit score of 500 or higher. Income-only lenders have no minimum credit score. No collateral required. No job required. Apply free in 2 minutes with a soft check that never impacts your score.
What documents do I need for a personal loan?+
For online personal loans through Money247.com you typically need your SSN, bank account and routing number, and proof of income — which can be bank statements showing regular deposits rather than formal pay stubs. Government ID may be requested for identity verification. The exact documents vary by lender but online lenders require significantly less paperwork than traditional banks.
Can I get a personal loan without a job?+
Yes. You do not need a traditional job to qualify for a personal loan through Money247.com. Benefits, Social Security, SSDI, gig income, rental income, pension, child support, and any regular bank deposits all qualify as income. Income-only lenders base approval entirely on your bank deposit history — no employment required at all.
Do I need collateral for a personal loan?+
No. Personal loans through Money247.com are unsecured — no collateral of any kind is required. Your home, car, and assets are never at risk. Approval is based solely on your income and credit profile.
Will applying affect my credit score?+
No. Checking your rate at Money247.com uses only a soft credit inquiry which does NOT affect your credit score.
You Likely Qualify — Apply Free Now
Bank account + any regular income = you likely qualify. Apply free in 2 minutes. Soft check only. 300+ lenders. Bad credit OK. Same-day deposit available.
Apply Free — Check If I Qualify →
Related Resources
Disclaimer: Money247.com is a loan matching service, not a direct lender. Loan approval is not guaranteed. Requirements vary by lender.
You Probably Qualify —
Check Free in 2 Minutes
Bank account + any regular income = you likely qualify. Bad credit OK. No collateral. No job required. Soft check only. Same-day deposit available.
Apply Free — Check If I Qualify →
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