If you’ve decided to get a Personal Loan you should understand that you’ll need to meet certain Personal Loan requirements and provide the necessary documents to qualify. Personal Loan documentation may vary from lender to lender but in general, it’s similar. Just check our full list of the documents, information, and other requirements needed to apply for a Personal Loan.

Personal loan documents your lender may require

When you fill out a Personal Loan application form and then go through the verification process, you will be required to provide some basic documents. You don’t need to visit a loan store or do the faxing. In most cases, you can submit the documents electronically.

All Personal Loan requirements are aimed at evaluating your financial situation and determine whether you can pay the money back on time.

It will save you a lot of time and effort if you prepare all the documents for your loan application in advance. Here are the main Personal Loan requirements most direct lenders need:

Loan application

Each lender will have its own application to initiate the loan process, and this application can look different lender to lender. For example, if you’re borrowing from an online lender, the application process is often done entirely online. If you’re borrowing from a traditional bank or a credit union, the applications can typically be completed either in person or online.

This initial application is usually basic — it will often ask for your basic personal information, desired loan amount and loan purpose.

  • Some form of government-issued ID
  • Driver’s license
  • State-issued ID
  • Certificate of citizenship
  • SSI debit card
  • Passport
  • Birth certificate
  • Military ID

Proof of income and employment

Different forms of income verification can be accepted as proof of income. If you are traditionally employed, you’ll need:

  • Pay stubs
  • Bank statements
  • Tax returns
  • W-2s and 1099s
  • Employer’s contact information

If you’re self-employed, you can provide the following documents to verify your income:

  • Bank statements.
  • 1099s.
  • Income tax returns.

Keep in mind that some lenders can accept only pay stubs and bank statements to verify your employment.

Proof of address

  • Proof of US residence
  • You’ll need to confirm where you live with the help of the following documents:
  • Your ID
  • Utility bill
  • Voter registration card
  • Proof of insurance on your home, lease/rental, or vehicle
  • Mortgage statement
  • Lease agreement

In case you change your address, it needs to be confirmed. You can use the U.S. Postal Service resources to help you change and confirm a change of residential address.

Credit card report

The application form may also include information about your debt, liabilities and assets. Special attention is paid to the credit rating. You can get a Personal loan at a lower interest rate if your credit rating is strong. Credit card rating is typical as follows:


Credit Card Ranking

Credit Card Rating



720 and higher





Fair or average





Do you have a bad credit report? Are you a non-U.S. resident and can’t provide a two-year credit history with a valid U.S. credit account? In this case, you can apply for a loan with a bad credit score. To do this, you will need an unconventional credit reference to increase the chances of approval for a Personal loan. Lenders will require the following non-traditional credit references:

  • Confirmation of additional source of income and work in the United States for the duration of at least three years
  • Payment record of your current rental or mortgage expenses
  • Non-payroll-deducted medical bills, life insurance, and car insurance
  • Paid utility bills
  • School tuition charges
  • Add a co-signer in your app (this will add a positive score to your credit request)

Keep in mind that these are the basic Personal Loan documents. Lenders may require additional information or other requirements such as a credit score.

Do you need a Personal Loan of more than $1,000 and up to $35,000? Even if you have a Bad Credit Score - it's 100% possible. All you need to provide is: US residence, 18+ y.o. and stable income at least $1K a month. That's so easy! And having all the required documents gives you 99.9% chance of being approved.


Personal Loan application questions you may be asked

Start your personal loan application prepared to answer every question from a lender:

 What are the reasons you apply for a Personal Loan?
 How much do you intend to borrow?
 What loan terms are most convenient for you to repay the money?
 What is your credit score?

How to prepare for a personal loan application?

Of course, it’s important to prepare all the Personal Loan documents. But there’re some more things to do before applying for a Personal Loan. Find out how to increase your approval chances by following our advice.

  • Always take a chance to pre-qualify online.
  • Check your credit report regularly and make sure there’re no mistakes.
  • Improve your score to get better rates.
  • Keep a low debt-to-income ratio to provide a good income.
  • Use a free Personal Loan calculator to check your rates.

How to get $35,000 Personal Loan fast?

First, you need to investigate different lenders in the United States. It’s easier done online using comparing companies' services such as COMPACOM.com, for example. It works only with the most reliable and verified lenders offering the lowest rates. Compare the best offers and choose the lender that suits your needs and repayment plan.


Rates last updated May 19th, 2024

After you’ve decided where to get the money, you are to submit a formal application for a Personal loan. Use the following three steps to speed up the applying process.

  1. Make a list of required documents. Before you start your online application, read the full list of required documents. It will save you time. Also, it will reduce the chances of missing any important information listed on the creditors' website.
  2. Scanned copy of all documents. This makes it easier to complete the online application. You need to attach a file of the required document with the online application. This is all done with one click.
  3. Start now, finish later. You started applying online and you don't have everything at hand. Not panic. Just use the "save and complete later". This feature is offered in most online application forms.

Now you can easily fill out an application for a loan, if you know what documents you need. Compare the lenders or apply for a $1,000 - $35,000 Personal loan now.

After that, the lender will check your credit score. Perhaps it will lower a few points from your credit account.

Must know!
Lenders before approving you for a loan have the right to do a soft or hard inquiry of your credit history. Some of them stick to a soft or no check, which doesn’t affect your score anyway. A hard credit check can be done only after letting you know about it and may have some influence on your score, but in comparison with other factors (debt, bills, etc) only a slight one. 

Finally, when you are eligible for a personal loan, you will receive your funds within 1 -2 business days according to the lender's term.

  In addition, Personal loans can help consolidate debt which may improve your credit score and cover unexpected expenses.

Think about it well before taking out a Personal loan. Only after that make the final decision. Find the best lenders that offer low-interest rates. Make sure you only borrow what you need. Be punctual with your repayments!

Bottom line

If you want to get a Personal Loan fast and stress-free, prepare all the Personal Loan documentation before applying. Get ready to answer the lender’s questions. Pre-qualify online to make sure you meet all the Personal Loan requirements. Choose the best lender and you’ll get a Personal Loan with bad credit and at a lower credit score.