How to Get a Bad Credit Loan from Best Egg: A Practical Guide for 2025

Bad credit has a way of making you feel like your financial options are permanently limited. Whether you’re a gig worker trying to stay afloat between paychecks, a Gen-Z borrower with minimal credit history, or a millennial juggling student loans and rent, getting credit can feel frustratingly out of reach. But that’s not the whole story. Let’s look at how to get a bad credit loan from Best Egg.

Best Egg is a digital-first lender that offers personal loans tailored to real-life challenges, including those with imperfect credit. Best Egg is a breath of fresh air if you’ve been turned down by traditional banks or overwhelmed by payday loan traps. And with tools like Beem, comparing loan offers and navigating your financial options just got easier.

This blog will explain how to get a bad credit loan from Best Egg, what to expect, and how to find the right loan fit using Beem.

What Is Best Egg and How Does It Work?

Best Egg is an online lending platform that provides personal loans to people with a wide range of credit scores, including those who’ve hit bumps in their financial journey. Backed by Marlette Funding, Best Egg has helped over a million users borrow over $20 billion since its launch.

Best Egg operates online, unlike traditional banks that often require in-person visits, extensive paperwork, and long approval times. Their platform is built for speed and transparency. You can pre-qualify without affecting your credit score, complete the application in minutes, and receive funds in as little as one business day.

Best Egg provides unsecured personal loans, so you don’t have to purchase collateral like your car or house. These loans can be used for a range of purposes:

• Debt consolidation
• Home improvement
• Medical expenses
• Major purchases
• Moving or relocation costs

Eligibility Criteria for a Best Egg Bad Credit Loan

What Does Best Egg Consider for Approval?

Best Egg doesn’t rely on credit score alone. While they do review your credit report, they also evaluate:

• Your annual income (typically $50,000+ is favorable.
• Debt-to-income (DTI) ratio
• Length of credit history
• Employment status
• Overall financial behavior

They use a combination of these factors to assess your ability to repay the loan.

Credit Score Requirements

While Best Egg typically works with borrowers with a minimum credit score of 600, people with lower scores, especially in the 580 to 600 range, may still qualify depending on factors like stable income or low DTI. Qualifying might be more challenging if your score is below 580, but you’re not out of options.

Other Factors That Impact Approval

• Consistent employment or self-employment
• Low revolving credit usage
• No recent bankruptcies
• Bank account in good standing

How to Apply for a Bad Credit Loan from Best Egg

Step-by-Step Application Process

Step 1: Check Your Credit Score

Before you even start, get a sense of where you stand. Use Beem’s free credit score monitoring tool to check your score without affecting it.

Step 2: Gather Your Documents

Having these ready will save time:

• Government-issued ID
• Recent pay stubs or proof of income
• Bank account details
• Social Security number

Step 3: Complete the Online Application

Visit Best Egg’s official site and complete the short pre-qualification form. It takes just a few minutes and doesn’t impact your credit score.

Step 4: Wait for Approval and Loan Terms

Once you apply, Best Egg typically makes a decision within minutes. You’ll receive details about the loan amount, term (typically 3 or 5 years), and interest rate if approved.

Step 5: Review and Accept the Loan Offer

Make sure to read the terms carefully. Look out for:

• Interest rate (APR)
• Origination fee
• Monthly repayment schedule

If the terms work for you, accept the offer, and your funds could be in your account as early as the next day.

What to Expect When Getting a Bad Credit Loan from Best Egg

Loan Amounts and Terms

You can borrow between $2,000 and $50,000, with repayment terms of 36 or 60 months. The actual offer depends on your credit profile.

Interest Rates

Borrowers with bad credit might see APRs between 17.99% and 35.99%. While this is higher than what prime borrowers get, it’s often much lower than payday loan rates or credit card interest.

Fees and Costs

Best Egg charges an origination fee between 0.99% and 8.99%, deducted from your total loan amount. There’s no prepayment penalty, so you can pay off your loan early to save on interest.

How Quickly Will You Get Your Funds?

Once approved, most borrowers receive funds in 1 to 3 business days. It’s fast, especially for emergencies or urgent debt consolidation.

Pros and Cons of Getting a Bad Credit Loan from Best Egg

Pros

• Entirely online and quick process
• Soft credit check during pre-qualification
• Funds available in as little as one day
• Accepts borrowers with fair to low credit

Cons

• Higher interest rates if your credit is poor
• Origination fee reduces the net loan amount
• Borrowers with very low scores may be denied

Is Best Egg the Right Choice for You?

When Best Egg Makes Sense

Best Egg could be a smart option if:

• You’ve been denied by traditional banks.
• You want to consolidate high-interest credit card debt.
• You need a fixed-rate loan with predictable monthly payments.
• You’re aiming to build or rebuild your credit.

Alternative Loan Options

If Best Egg doesn’t work out, consider:

• Credit unions, which may offer more lenient approval terms.
• Peer-to-peer lending platforms like LendingClub.
• Secured personal loans backed by savings or assets.

How Beem Helps You Make the Right Choice

Beem simplifies this entire process. Instead of hopping from site to site, use Beem to compare loan offers, including Best Egg and other lenders, all in one place. You’ll see your chances of approval, loan terms, and interest rates clearly to pick the best fit for your financial situation.

Quick Cash for Emergencies: How Beem’s Everdraft™ Can Help

When you need money right now, waiting 2-3 days for a personal loan may not cut it. That’s where Beem’s Everdraft™ comes in.

Everdraft™ offers:

• Instant emergency funds up to $1,000
• No hard credit check
• Funds in minutes, not days
• Transparent fees with no hidden surprises

Whether it’s a car repair, a rent shortfall, or a grocery emergency, Everdraft™ fills the gap while you figure out your longer-term finances.

Conclusion

Getting a bad credit loan doesn’t mean settling for sky-high rates or predatory lenders. Now that you have learned how to get a bad credit loan from Best Egg, you know that it provides a legitimate, transparent path for borrowers looking to rebuild. From an easy application to fast disbursal and manageable terms, it’s built to serve those often ignored by traditional banks.

And if you’re unsure whether Best Egg is the right fit, use Beem’s comparison platform to weigh your options. With features like Everdraft™, credit score monitoring, and a vast network of lending partners, Beem empowers you to borrow smarter — no matter your credit score. Download the Beem app here.

FAQs on How to Get a Bad Credit Loan from Best Egg