If you’re looking for loans for poor credit, you may be wondering whether your credit history will make it harder to borrow. Having a poor credit history can make borrowing more difficult, particularly if you’ve missed payments or had problems with credit in the past. But having poor credit doesn’t necessarily mean that borrowing isn’t an option.
There are many reasons why someone’s credit history may have been affected. A change in income, missed or late payments, or having a limited credit history can all play a part. Whatever the reason, if you need to borrow, it’s important to look for a responsible lender and a loan with repayments you can afford.
That’s where a community bank can offer a different approach. Northern Community Bank is a not-for-profit financial cooperative, providing savings and affordable loans to people in the communities we serve.
So, if you’re looking for an affordable loan and are concerned about poor or bad credit, you can still apply to Northern Community Bank. We’ll consider your individual circumstances and whether the repayments are affordable for you. All loan applications are subject to approval and any relevant eligibility and affordability checks.
Our Personal Loans allow eligible account holders to borrow from £150 to £15,000, with repayments spread over 12 to 60 months. Interest is charged on the reducing balance, and there are no set-up fees or charges for repaying your loan early. The APR will depend on the loan and your individual circumstances.
Can I apply if I’ve been turned down elsewhere?
If you’ve been turned down for a loan elsewhere because of your credit history, this doesn’t necessarily mean you can’t apply to Northern Community Bank. Every lender has its own lending criteria, and we’ll consider your application based on your individual circumstances and the relevant eligibility and affordability checks.
We believe borrowing should be affordable and clearly explained. Before taking out any loan, make sure you understand the repayments, interest and total amount you’ll repay, and consider whether the repayments will be manageable alongside your other regular expenses.
Looking for loans for poor credit?
If poor or bad credit has made you unsure about applying for a loan, take a look at the borrowing options available from Northern Community Bank. You can explore our loans, see our current rates and repayment examples, and apply online if you find an option that’s right for you.
