SpringLeaf Financial Services is a reputable company that offers secured loans to people with bad credit. Individuals with bad credit are more likely to get a better interest rate with a secured loan, because they must provide collateral, such as a vehicle or property.
Companies offering unsecured loans tend to charge higher interest rates. Companies offering personal unsecured loans for customers with low FICO scores include OneMain Financial, Avant and SoFi. Other alternatives include peer-to-peer lending websites, such as Lending Club and Prosper, or sites such as PersonalLoans.com or OneClickLoan.com, which match several potential lenders to customers so the borrowers can choose the best deal.