Yes - we gave people with poor credit mortgages to buy homes, and yes that did lead to the financial crisis, but not because they were poor and had bad credit.

It was because the loans were very large, and were backed by the supposed value of the home the person was buying. Then packaged in ways that hid the risk until the last minute - making those assets toxic when the housing bubble popped.

For small personal loans, there are not the same sort of systemic risks.