4 Medical Loans for Bad Credit

What are Medical Loans for Bad Credit?

Medical loans for bad credit can provide financial relief for urgent healthcare expenses when insurance or savings fall short.

Before taking out a medical loan, explore grants and hospital financial aid programs, which may be available through nonprofit and government resources.

Medical troubles can occur anytime, and you must undergo treatment, whether you have good credit or bad.

Individuals with minimal health insurance and bad credit scores may require a medical loan to continue with treatment.

Health complaints and injuries can cost you a fortune, and one should always have a backup plan – health insurance or enough savings – ready to pay the hospital bills.

People with bad credit scores (typically below 580) may face higher borrowing costs but still have options for medical financing through select lenders. According to most standard definitions by credit bureaus, ‘bad credit’ generally refers to scores below 580, while scores between 580 and 669 are considered ‘fair. ‘ Medical loans can provide a viable option for individuals in this situation, but it’s crucial to consider the terms and interest rates offered carefully.

Even with a bad credit score, one can get a medical loan to pay bills and recover from financial expenditures.

Medical Loans for Bad Credit – Top Loan Providers to Help You with Healthcare Bills

For those dealing with a health emergency, planning surgery, or needing financial help for prescriptions, a medical loan from a reliable loan provider would be the solution.

If you have bad credit, not all loan providers may agree to offer a medical loan for your treatment.

It’s true that people with good credit scores (ranging from 670 to 739) and a positive debt-to-income ratio easily get loans compared to those with bad credit.

However, some loan providers approve medical loans for individuals with bad credit, offering flexible terms.

Here is the list of top loan providers who provide loans to bad-credit customers.

1. Upgrade

Upgrade offers medical loans from $1,000 to $50,000 with APRs from 7.99% to 35.99%. It accepts credit scores as low as 580 and provides joint and secured loan options to improve approval odds.

2. Avant

Avant offers loans from $2,000 to $35,000 with credit score requirements starting around 550. It’s a subprime-friendly lender with a solid reputation for fast medical expense funding.

3. Upstart

Another loan-matching services provider with great ratings for bad credit medical loans. Upstart remains a top 2025 lender for bad-credit borrowers. It accepts applicants with no minimum credit score and considers education and job history during approval. Applicants should ensure they understand the APR range and repayment terms before proceeding.

If your medical expenses are not covered under health insurance, an Upstart medical loan would be a handy option.

In addition, the amount you receive for medical expenses can be used for elective procedures. Some examples of the elective procedure include:

• Hair loss treatment
• Cosmetic surgery
• Dental treatments
• Weight loss treatment
• Infertility treatments

Checking your rate on Upstart’s website uses a soft inquiry and does not affect your credit score. Only hard inquiries temporarily impact your credit.

For more info, visit https://www.upstart.com/medical-loans

4. LightStream

LightStream, still a division of Truist Bank, offers low-APR medical loans from $5,000 to $100,000, but only to borrowers with good-to-excellent credit. Prospective borrowers should compare LightStream’s rates and terms against their financial capabilities and need to ensure a fit.

LightStream offers direct financial support to applicants to pay outstanding medical bills.

The loan amount provided by LightStream ranges from $5000 to $100,000 with a loan term of 24 to 84 months.

Your actual interest rate is based on creditworthiness, but LightStream does not cater to borrowers with poor or limited credit histories.

LightStream offers a well-organized, managed loan procedure for a wonderful, no-hassle experience. The service and rates offered by these professionals are appreciated in the industry.

For more info, visit https://www.lightstream.com/medical-financing

5. LendingClub (with co-applicant)

LendingClub offers loans up to $40,000 with APRs from 8% to 36%. It requires a minimum credit score of ~600 but allows joint applications, which may help bad-credit borrowers qualify.

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