Single mothers have their task cut out in life that it is going to be a tough ride. That is, if their partner has not left them a good will. There is an aura of financial insecurity with single women. There is also a feeling that she might be mentally disturbed and this may result in non-repayment of loans in later stages.
The Govt. does have some programs though for handing help to such women. They bear a load of the burden with the institution in case of defaults. There are also a few grants at disposal for these women.
If they get the loan on sympathy ground, the interest rate would be reasonable. They might have to show that they are handling their kid’s education well. They can also get access to monetary and otherwise help from the churches that do benevolent things regularly. It is tough for them to get loans, especially from banks.
Long-term installment loans are a great idea for buying flats and having lavish weddings. But they become a tad difficult for those who do have bad credit. Then it becomes a choice of little variation and the client may have to mostly suffer.
You may try using his savings account vigorously: Taking money one day and putting another. This is accounted as monetary activity. Then you might have to show a corollary; it might be your job, your business, your owned plot or valuable fixed assets. You may try to correct your bad credit with the authorities using a bit of discretion.
Some companies have made an initiative and give the loans to even bad credit holders. The interest rate in such case is high and the details very coherently put the client. They may need a couple of good references though. But it is hard to get a great amount of loan with bad credit.