Can You Get A $100 Loan In Missouri With Bad Credit?

Key Takeaways

• You have two options for getting a $100 for bad credit with Missouri Title Loans, Inc.: title loans and signature installment loans.
• Title loans in Missouri are secured using your lien-free vehicle title, so direct lenders do not require excellent credit scores to qualify.
• While your credit score can affect installment loan value, you can still get approved as long as you have income and can afford repayment in fixed installments.
• Title loans are a better option for bad credit borrowers, but both can help you get up to $100 for emergency costs like medical bills, home repairs, and unexpected travel costs.
• To get title loans and installment loans, you have to apply with our online form, speak to a representative over the phone about terms and conditions, get your requirements verified in person, and sign the loan agreement.

Financial emergencies can arise at the worst times, and emergency funds are your first port of call when unexpected scenarios strike. If you don't have enough saved up, you may start wondering whether you can get a $100 loan in Missouri.

In this guide from Missouri Title Loans, Inc., we will discuss the possibility of obtaining a bad-credit loan and the types of loans available. We will review how title loans and signature installment loans work and whether you can get approved with bad credit or no credit at all.

$100 Missouri Loans For Bad Credit

Unbeknownst to many, you can get a $100 loan in Missouri — even with bad credit. While these loans have some requirements, they're easy to meet and do not require a good credit rating. Not to mention that the processes are just as simple.

Typical banks and credit unions aren't usually willing to lend to somebody with bad credit. Here at Missouri Title Loans Inc., we offer bad-credit loans, so everyone has an opportunity to borrow when they need it most. Specifically, we provide both title loans and installment loans.

Read on below to discover how to get a $100 loan with bad credit:

1. Title Loans

A title loan is a short-term borrowing option that depends on your vehicle's value and does not require a good credit score for approval. The main factor determining your loan amount is your vehicle's worth, which must be at least $100. Given today's average vehicle prices, most running, good-condition cars easily meet this threshold.

Since you provide collateral, you will not need to verify that you have a credit score above 600. You will, however, need to own your vehicle outright, which means paying off any outstanding liens, debts, or judgments.

To get approved for title loans for bad credit, you will need these three required items:

• State-issued identification — We accept all primary identification documents, including your driver's license, passport, military service member's ID card, and student ID card. Whatever you decide to use, ensure it displays your full legal name, date of birth, and photograph. You must be at least 18 years of age to get a $100 loan in Missouri.
• Lien-free title to your vehicle — We place a lien on your title to secure the loan, which allows you to continue driving your vehicle throughout the loan's term. As a result, we only accept lien-free titles. Naturally, the title must be in your name. If it isn't, you will need to go to the local Department of Motor Vehicles to request a title transfer. As soon as the title is in your name, you can request a title loan from us at Missouri Title Loans Inc.
• Vehicle — You can use a car, truck, or van to get a title loan. You cannot use a motorcycle, tractor, trailer, boat, RV, ATV, or other modes of transport. During the process, we'll examine your vehicle to establish its value, and thus, how much you can borrow. We take a variety of factors into account, including age, make, model, mileage, condition, service history, and modifications.

While title loans allow you to access up to $15,000 with simple requirements, not everyone has fully paid off their vehicle. You may also wish to pursue a lower-risk loan, since you only need $100. In that case, a signature installment loan may be able to get you the quick emergency financing you need.

2. Installment Loans

Signature installment loans are akin to typical personal loans, but you don't necessarily need a good credit score to qualify. That said, your credit rating will be checked. Most direct lenders will conduct a soft credit check and will adjust how much you can borrow based on your credit score.

These loans allow you to borrow up to $1,500 and repay it in installments over a pre-agreed duration. A $100 installment loan is quite easy to apply for, provided your income is high enough to comfortably pay it back in full and on time.

Here’s what you need to qualify for installment loans in Missouri:

• State-issued identification — Much like title loans, you will need to prove your identity and that you are over 18 years old to borrow cash. We accept the same state-issued photo IDs that we do for title loans; just make sure it displays your full name and date of birth.
• Proof of income — You will need to prove your income to show that you can afford the monthly payments. Your income level (along with your credit score) will determine how much we can offer you. It’s best to use your most recent pay stub to give the direct lender the clearest view of your current earning power.
• Checking account statement — You will need to have a checking account open in your name to qualify for Missouri installment loans. We will use a checking account statement to verify your current financial standing and determine whether you qualify.

While bad credit can affect your installment loan terms, you should still be able to qualify if the direct lender believes you can repay the $100 in emergency cash in installments. No matter which Missouri loan for bad credit we’ve mentioned fits your financial emergency, the process for both is similar. You can qualify for either on the same day you apply, using the simple process outlined below.

How To Get Approved For Bad Credit Loans In Missouri

At Missouri Title Loans, Inc., we understand the stresses caused by financial emergencies, especially when you have bad credit. Failing to pay the emergency expenses on time can lead to your credit score dropping further. That’s why our fast approval process lets you get same-day approval for bad credit loans.

With both title loans and signature installment loans, you can begin the process with our online request form and finish in person in just 30 minutes. Before you begin, just make sure you fill out the form for the loan you want and that you have the required items for your loan type.

Here is the approval process for our $100 bad credit loans in Missouri:

1. Fill out our online inquiry form (select the form corresponding to your loan type)
2. Answer our phone call to discuss the process, the requirements, and answer your questions before setting up a meeting date and time
3. Go to your nearest Missouri store with your required items for verification
4. If you are going for a title loan, we will inspect your car to see how much it's worth
5. If you can qualify for the $100 you need, we will help you sign the loan agreement
6. Receive your emergency funds later the same day or by the next business day

Get A $100 Loan In Missouri With Bad Credit Now!

Getting a $100 loan in Missouri is easier than you think when you choose Missouri Title Loans, Inc. While we will conduct a soft credit check, having bad credit will not lead to an automatic rejection as long as you meet the other requirements. You can begin the process online today and finish up in person later the same day.

Ready to get fast financial relief? Apply for title loans or installment loans by filling out our online bad credit loan form and finish up with us at one of our stores in under 30 minutes!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.