For individuals who suffer from bad credit, guaranteed approval loans provide short-term assistance to meet their financial needs. The only factor that can disqualify one from getting a guaranteed loan approval is an on-going or recent bankruptcy.
Having bad credit history is surely a disadvantage. Lenders often give the best deals only for customers with good to excellent credit. People with bad credit may not get approved for credit cards with high credit standards.
We all face a time in life when we need financial assistance in a rush. Many people apply for a personal loan for different purposes such as purchasing a home or a new car, starting up a business, sending kids to college, going on vacation, improving the house, etc.