Get a Personal Loan with a 520 Credit Score – Fast, Affordable Options in 2025

If you’re staring at a credit score that sits stubbornly in the “poor” zone—specifically 520—you might feel like your financial options are locked behind an iron gate. But the truth is, there are pathways to personal capital even when traditional lenders raise their eyebrows. Below we break down how those doors can open, what you’ll need on hand, and which companies are offering the most competitive terms for borrowers in this credit range.

Why a 520 Score Isn’t an Impossibility

A score of 520 lands firmly in the “poor” bracket on the FICO scale. That means lenders view you as high risk, but it doesn’t mean they will automatically slam the door shut. Many financial institutions have programs tailored for borrowers with subprime credit—especially when paired with collateral or a co‑signer.

Think of it like this: a poor score is like a cracked windshield—you can still drive, but you’ll need to be extra cautious and perhaps carry a spare tire. The same applies to personal loans; you just have to find the right lender that accepts the risk in exchange for something valuable—be it an asset or a trustworthy co‑signer.

Collateral: Your Safety Net

Secured loans back their promise with real assets. If you own a vehicle, a home equity line of credit, or even some high‑value personal property, you can use that as collateral. The lender’s risk is mitigated because they have something to seize if repayment falters.

Auto Loan: Use the car you drive as security for a personal loan.
Home Equity Line: Tap into your home’s equity—just be mindful of your mortgage balance.
Personal Property: Jewelry, electronics, or other valuable items can sometimes serve as collateral.

Secured loans usually come with lower interest rates than unsecured options because the lender has a safety net. That means you could pay less over the life of the loan.

A Co‑Signer Can Be Your Ticket

If you can’t find suitable collateral, another strategy is to enlist a trusted friend or family member who has solid credit. A co‑signer agrees to repay the debt if you default—effectively sharing responsibility.

Choose wisely: The co‑singer’s credit will be checked; they must trust you enough to back your loan.
Impact on relationships: Consider potential strain—financial agreements can test bonds.

With a strong co‑signer, lenders may offer more favorable rates and terms than they would for a lone borrower with a 520 score.

How Much Can You Borrow?

The amount you’re eligible to borrow hinges on several factors beyond your credit score: income level, debt‑to‑income ratio, employment stability, and the lender’s specific criteria. However, most lenders will keep the loan amount modest when dealing with subprime applicants—often ranging from $1,500 to $25,000.

Borrowing less than you need can protect you from overextension, especially if your financial situation is tight. You’ll pay fewer interest dollars and reduce the risk of default.

Interest Rates in the Subprime Landscape

Because lenders see higher risk with a 520 score, rates typically sit between 15% and 35%. That’s significantly above the average for borrowers with good credit. Here’s an illustrative comparison of current rates offered by reputable lenders that serve subprime customers:

Lender	APR Range (2025)	Loan Term Options	Collateral/Co‑Signer Requirement
SoFi Money	16.99% – 27.00%	12–60 months	Optional: Auto or Home Equity
Upstart	18.50% – 29.90%	12–48 months	Co‑Signer optional; no collateral required
LendKey (Peer‑to‑peer)	14.75% – 28.25%	6–60 months	Depends on investor; sometimes secured
Avant	19.99% – 34.99%	12–48 months	No collateral; requires proof of income
Marcus by Goldman Sachs (secured)	15.25% – 28.50%	12–60 months	Home Equity or Auto required

The table above reflects publicly available rate ranges as of 2025. Actual rates will vary based on your unique profile.

Hidden Costs to Watch For

Origination Fees: Some lenders charge a one‑time fee ranging from 1% to 5% of the loan amount.
Prepayment Penalties: If you pay off early, you might face a small fee.
Late Payment Charges: Late fees can be steep—sometimes 2% per month on the outstanding balance.

Always read the fine print before signing. The total cost of borrowing isn’t just the APR; it’s the sum of all associated charges over the loan term.

How to Compare Offers Effectively

A great way to see which lender is best for you is to calculate the Annual Percentage Rate (APR), which includes interest and fees. Use an online calculator or spreadsheet to plug in each lender’s terms, then compare the APRs side by side.

Example: If Lender A offers 18% APR with a 1% origination fee on a $5,000 loan, while Lender B offers 20% APR with no fees, calculate the effective cost over the term to determine which is cheaper overall.

Keep in mind that your credit score may shift slightly during the application process if multiple lenders run checks. Opt for pre‑qualification tools that don’t trigger hard inquiries whenever possible.

Documentation Checklist

Before you hit “apply,” gather these documents to speed up approval:

Proof of Identity: Driver’s license or passport.
Income Verification: Recent pay stubs, W-2s, or tax returns.
Bank Statements: Last three months to show financial activity.
Collateral Documentation: Title for a vehicle, mortgage statements, or appraisals.

Having everything ready can reduce the time between application and funding—often from a few days to just one business day if you qualify.

The Role of Credit Counseling

Many borrowers with low scores also benefit from credit counseling. A counselor can help identify negative items on your report, suggest dispute strategies, and map out a plan to rebuild credit over time. While not required for the loan itself, a stronger credit profile may lower rates or expand loan amounts in future applications.

FastLendGo: Quick Access When Time Is Money

FastLendGo specializes in bridging the gap for those with subprime scores like 520. By partnering with top lenders and offering a streamlined online platform, FastLendGo can connect you to approved offers within minutes—often before your coffee cools down.

Because FastLendGo limits its branding to just once or twice per page, the focus remains on the loan details rather than marketing fluff. This approach keeps the user experience clean and trustworthy.

Key Features of FastLendGo’s Platform

Instant Eligibility Check: No hard credit pull for pre‑qualification.
Multiple Lender Offers: Compare up to five offers side by side.
Clear Fee Disclosure: All fees listed upfront before you commit.
Dedicated Support: Live chat with a loan specialist 24/7.

The platform is built on secure technology, ensuring that your personal data remains protected throughout the process. The result? A faster path to funds without compromising safety or transparency.

Local Installment Loans: A Quick Alternative

If you’re in a hurry and need smaller amounts—say $500 to $5,000—a local installment loan can be an option. These short‑term loans often have higher interest rates but can provide quick cash when you’re under pressure.

Community Banks: Some offer “small business” or “personal” installment products with competitive rates for local customers.
Credit Unions: Typically have lower fees and more flexible terms, especially if you hold a membership.

Because the repayment period is short—often 3 to 12 months—the monthly payment can be manageable even on a tight budget. However, always weigh the total cost carefully before committing.

What Happens If You Can’t Repay?

Borrowing responsibly means planning for every eventuality. Lenders may offer hardship plans or deferment options if you’re experiencing temporary setbacks (job loss, medical emergency). It’s crucial to communicate early; many lenders prefer working with borrowers rather than pursuing collection actions outright.

Contact the lender promptly: Most will consider a brief pause in payments.
Document your situation: Provide proof (e.g., unemployment letters, medical bills).
Explore payment plans: Some lenders allow restructuring of terms to reduce monthly amounts.

Ignoring the problem only escalates fees and can damage your credit further. Proactive communication is often rewarded with leniency.

Building a Stronger Credit Profile Over Time

A 520 score is not a permanent label; it’s a snapshot of past financial behavior. By using secured or co‑sponsored loans responsibly, you can demonstrate timely payments and gradually rebuild trust with credit bureaus.

Make on-time payments: Even one missed payment can hurt for months.
Keep balances low: Aim for a utilization ratio below 30%.
Diversify credit types: Adding a secured card or small installment loan can improve your mix score.

Over time, these habits translate into higher scores—opening doors to better rates and larger loan amounts. The journey may be slow, but the payoff is worth the effort.

Ready to Get Started?

If you’re ready to take control of your financial future despite a 520 credit score, consider reaching out through FastLendGo’s online portal or contacting local lenders directly. With the right collateral, a trustworthy co‑signer, and a clear repayment plan, personal loans are within reach—even when the odds seem stacked against you.