Financial emergencies usually mean that a fast injection of extra cash is needed. For the most part, that means applying for a loan and looking for approval in a matter of hours rather than days. This might not be such a big problem when the applicant has an excellent credit record, but when seeking personal loans with bad credit, it can be very hard to find.When a large sum of perhaps $10,000 is needed, the chances of getting the green light despite having a very poor credit rating, is even harder. But the good news is that more difficult does not translate to impossible. With the right boxes ticked, an applicant can always hope for fast loan approval.True, there will be a need to wait for a decision to be made. But it is not uncommon for successful applicants to see the funds of a personal loan transferred into their bank account within 24 hours of submitting the application.Qualifying For Fast Loan ApprovalHow is this possible? Well, it really does come down to meeting the basic criteria and then convincing the lender that the loan itself is completely affordable. In fact, the latter is usually the key when seeking any loan, not just personal loans with bad credit.The basic qualifying conditions relate to age, citizenship and employment. All applicants must be over the age of 18 and, when applying for loans from a US lender, must either be a US citizen or be a legal long-term resident. Applicants have to be gainfully employed, usually with 6 months behind them in a full-time position.When these criteria are satisfied, the next step to fast loan approval is to show that the repayments can be made without undue financial pressure. This is done by establishing that, with the new personal loan repayment included, the permitted percentage of income set by the debt-to-income ratio (40%) is adhered to.Have All Necessary Documents ReadyOften the delays that occur when applying for a loan are down to the necessary facts not being confirmed immediately. Admittedly, the use of technology means that the vast majority of relevant details (tax returns, income, credit history etc) are easily found, but some lenders require documented proof too before granting a personal loan with bad credit.Being able to send faxed copies of the documents at the time of submission can help the process greatly, and is your best chance of getting fast loan approval. It might also be an idea to scan the documents and send them electronically as attachments.However, these methods are not acceptable to all lenders, so be sure to check out their requirements. Once all the information requested is provided, the lender can make a decision. Then, approval of the personal loan can be secured.Consider Lending CompaniesTraditionally, going to a lending firm is considered the last viable option, but these private lenders can offer deals that are very competitive. What is more, they generally serve the bad credit applicants so it stands to reason that securing personal loans with bad credit is much more likely with them.As expert bad credit lenders, they offer terms that are much more suitable to the limited resources of bad credit borrowers. So, while the interest rate charged might be a little high, the repayment term is usually longer to facilitate a lower monthly repayment sum. That ensures the whole deal is more affordable.And if the loan is proven to be affordable, then it is easier to get fast loan approval. Bear in mind too, that as independent lenders, they are not slowed up by tedious approval systems. It means that green light on a personal loan can be secured all the more quickly.