Fortunly's Guide
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The Best Emergency Loans for Bad Credit in 2024

Written By
G. Dautovic
Updated
August 10,2023
Some or all of the products/services listed on this page are from our affiliate partners from which we receive commissions. This, however, does not influence the evaluations in our reviews. Learn more by reading our Advertiser Disclosure.

We all need emergency cash sometimes. After all, unexpected expenses lurk around every corner, but what if you don’t have savings to cover them? Well, an emergency loan can put that money in your hands. Be careful, though! Emergency loans can be hazardous, so make sure to read the fine print, too.

We took the liberty of doing a little research and finding something that might save your day with minimal risk - emergency loans for bad credit. Read on to learn more.

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Top Emergency Loan Options for Bad Credit in March 2024

Best for: credit health monitoring

Upgrade

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Upgrade Logo
OVERVIEW

Upgrade was established 15 years ago. It boasts over 15 million users who have successfully applied for its cards or loans and more than $10 billion in approved loans. Headquartered in San Francisco, California, the fintech company is at the disposal to all who need an easy loan approval procedure. Upgrade offers a wide range of products, including credit cards, affordable personal loans, rewards checking accounts, and even credit health tools. You can borrow anywhere from $1,000 to $50,000 with an APR as low as 8.49% for a personal loan. Read Review

  • Low credit score requirements
  • No minimum annual income
  • Credit Health tools
Apply Now
On Official Website
Estimated APR:
8.49% - 35.99%
Minimum credit score:
560
Loan amount:
$1,000 to $50,000
Loan term:
24 to 84 months
Origination fee:
1.85% to 9.99%
Late fee:
$10
Loan types:
Personal loans
BBB rating:
A+
Best for: fast funding

5kFunds

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

5kFunds Logo
OVERVIEW

5kFunds can get you emergency loans for bad credit from direct lenders. Over 100 reputable lenders partner with 5kFunds, amassing a formidable array of emergency financing products. By applying with 5kFunds, you’ll be able to compare loan rates from various lenders before choosing the one that fits you best. Read Review

  • Various loan types
  • Flexible repayment options
  • Fast funding
Apply Now
On Official Website
Estimated APR:
5.99% to 35.99%
Minimum credit score:
N/A
Loan amount:
$1,000 to $35,000
Loan terms:
60 days to 72 months
Origination fee:
Lender-dependent
Late fee:
Lender-dependent
Loan types:
Unsecured and secured personal loans
BBB rating:
N/A
Best for: applying with multiple lenders

CashUSA.com

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

CashUSA.com Logo
OVERVIEW

CashUSA.com lets you apply for loans with proven state and tribal lenders. Superb security measures and lax borrowing requirements set this platform apart from other marketplaces for emergency personal loans. CashUSA.com is the right choice if you want to compare loan offers, but be ready for some aggressive email marketing, too. Read Review

  • Prequalification at multiple lenders
  • Reasonable borrowing requirements
  • End-to-end encryption
Apply Now
On Official Website
Estimated APR:
5.99%-35.99%
Minimum credit score:
Varies by lender
Loan amount:
$500 to $10,000
Loan terms:
90 days to 72 months
Origination fee:
N/A
Late fee:
N/A
Loan types:
Personal loans
BBB rating:
F
Best for: low credit borrowers

LendingPoint

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

LendingPoint Logo
OVERVIEW

If you have a less-than-perfect credit score and need a personal loan, lenders you should consider include LendingPoint. The company operating the financial technology platform was founded in 2014 and is headquartered in Kennesaw, Georgia. LendingPoint has a mission to provide access to fair and fast financial products for everyone and offers fast cash loans from $2,000 to $36,500, at rates ranging from 9.99% to 35.99% APR to all eligible applicants. Read Review

  • Smooth application process
  • Quick response time
  • No extra payments or loan prepayments
Apply Now
On Bankrate Website
Estimated APR:
9.99% to 35.99%
Minimum credit score:
580
Loan amount:
$2,000 – $36,500
Loan term:
24 - 60 months
Origination fee:
0 - 6%
Late fee:
$0
Loan types:
Personal loans
BBB rating:
A+
Best for: loans up to $50,000

Upstart

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Upstart Logo
OVERVIEW

Founded in 2012, Upstart offers loans for bad-credit borrowers. Upstart is the right place for borrowers with no credit score. Thanks to its progressive evaluation method, this company weighs its loan approval against your education, job history, and area of residency. Read Review

  • 15-day grace period
  • Uses AI to evaluate applicants
  • Funds within one business day
Apply Now
On Official Website
Estimated APR:
3.09% - 35.99%
Minimum credit score:
None
Loan amount:
$1,000–$50,000
Loan terms:
3 or 5 years
Origination fee:
0% - 8%
Late fee:
5% or $15
Loan types:
Personal loans
BBB rating:
A-
Best for: debt consolidation loans

Avant

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Avant Logo
OVERVIEW

People with a less-than-stellar credit score who need quick loans for bad credit score can rely on Avant. The company was established in 2012 with a mission to lower the costs and bypass obstacles for low-credit score borrowers. It offers loans that range from $2,000 to $35,000 and will be approved in just one business day. Aside from quick loan agreement approvals, Avant provides a soft credit check that won’t affect your score. Read Review

  • Swift approval time
  • Soft credit check
  • Simple application process
Apply Now
On Bankrate Website
Estimated APR:
9.95%-35.99%
Minimum credit score:
600
Loan amount:
$2,000-$35,000
Loan term:
24 to 60 months
Origination fee:
Up to 4.75%
Late fee:
$25
Loan types:
Personal loans
BBB rating:
A
Best for: connecting with various lenders

BadCreditLoans.com

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

BadCreditLoans.com Logo
OVERVIEW

Not a lender itself, BadCreditLoans.com connects customers with their network of lenders and financial service providers who can offer them a loan. BadCreditLoans.com doesn’t dictate the terms, conditions, interest rates, and costs of the loans. Instead, it gives you free access to a network of hundreds of lenders with a single request form. The company provides a variety of loan types and amounts ranging from $500 up to $10,000. Personal, home equity, and title loans are among the types of lending you can obtain through this platform. Read Review

  • Rapid disbursement of funds
  • Competitive APR
  • Wide network of lenders
Apply Now
On Official Website
Estimated APR:
5.99% and 35.99%
Minimum credit score:
Lender-dependent
Loan amount:
$500 - $10,000
Loan term:
90 days to 72 months
Origination fee:
Lender-dependent
Late fee:
Lender-dependent
Loan types:
Personal, Business, Student, Auto, Home, Mortgage
BBB rating:
F
Best for: short-term loans

CashAdvance.com

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

CashAdvance.com Logo
OVERVIEW

If you’re looking for small loans for bad credit, CashAdvance.com may be an option. This online marketplace offers short-term loans up to $1,000 and can get your money to you on the same day. However, the maximum repayment time is only 12 months, which tends to hike up interest rates sky-high. Read Review

  • Quick application process
  • Short-term loans
  • Reputable lender network
Apply Now
On Official Website
Estimated APR:
From 14% to 1,564%
Minimum credit score:
N/A
Loan amount:
$200 - $1,000
Loan terms:
7 days to 12 months
Origination fee:
Lender-dependent
Late fee:
Lender-dependent
Loan types:
Short-term loans
BBB rating:
A
Best for: flexible repayment terms

Fast5kLoans

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Fast5kLoans Logo
OVERVIEW

Fast5kLoans is an online marketplace for consumers with poor credit looking for short-term loans. The company collaborates with multiple lenders, offering loans that range from $500 to $35,000. The simple application procedure, variety of repayment schedules, and low credit score requirements, are good reasons to check out this company. Read Review

  • Small loans available
  • Easy application
  • No fees
Apply Now
On Official Website
Estimated APR:
5.99% to 35.99%
Minimum credit score:
N/A
Loan amount:
$500 - $35,000
Loan terms:
60 days to 72 months
Origination fee:
Lender-dependent
Late fee:
Lender-dependent
Loan types:
Debt-consolidation loans
BBB rating:
F
Best for: paying off credit card debt

Happy Money

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Happy Money Logo
OVERVIEW

Happy Money offers fixed-rate loans that range between $5,000 and $40,000. They are available for borrowers who want to pay off their credit card debt. Fast online application, professional assistance, and support for boosting your credit score are the main reasons Happy Money is on our list of lenders. Read Review

  • No prepayment or late payment fees
  • Free FICO check every month
  • Professional assistance
Apply Now
On Official Website
Estimated APR:
7.99%-29.99%
Minimum credit score:
640
Loan amount:
$5,000 to $40,000
Loan terms:
2-5 years
Origination fee:
0%-5%
Late fee:
None
Loan types:
Debt consolidation loans
BBB rating:
A+
Quick Breakdown

Quick-Cash Loans for Low Credit Scores - Our Picks:

  • Upgrade - Best for credit health monitoring
  • 5kFunds - Best for fast funding
  • CashUSA - Best for applying with multiple lenders
  • LendingPoint - Best for low credit borrowers
  • Upstart - Best for loans up to $50,000
  • Avant - Best for debt consolidation loans
  • BadCreditLoans.com - Best for connecting with various lenders
  • CashAdvance.com - Best for short-term loans
  • Fast5kLoans - Best for flexible repayment terms
  • Happy Money - Best for paying off credit card debt

Detailed Reviews of Emergency Loans for Bad Credit

Upgrade

Overview
4.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Min. Credit Score:
560
Estimated APR:
8.49% - 35.99%
Loan Amount:
$1,000-$50,000
Loan Term:
24 to 84 months

Upgrade is a tried-and-true fintech company established in 2017 and based in San Francisco, California. The company’s personal loan product is available to those with a bad credit score and has an A+ rating with the Better Business Bureau. 

While researching the emergency loans reviews we presented here, we were pleased to see that Upgrade served more than a million customers and processed over $10 billion in loans.

Aside from lending money, the company offers credit cards, checking accounts with rewards, and credit health tools to help users monitor and understand their scores better.

Types of Financing

With Upgrade, you can apply for a loan to finance your business, pay off credit cards, make large purchases, consolidate your debt, repair your home, or use it for other purposes.

The company will lend you a minimum of $1,000 and a maximum of $50,000, depending on the state you live in and your credit score. You’ll pay it back in fixed monthly installments. 

Loan Features

People who need emergency loans to work out an unforeseen situation should review all the fees and go through the fine print to avoid misunderstandings. If you choose to go for a personal loan, the estimated APR will be 8.49% to 35.99%, which is on par with the competition.

As for the other fees, get ready to pay anywhere between 1.85% and 9.99% for the origination fee and $10 for being late on a monthly payment. Finally, you will be expected to pay back the loan in the period of two to seven years.

Requirements

If you are considering Upgrade for fast approval loans, you’ll need to meet a minimum credit score requirement. For starters, your credit score shouldn’t be lower than 560. You should also have a regular source of income, even if it’s from benefits, and you must be a US citizen or a permanent resident. 

Your maximum debt-to-income ratio shouldn’t be higher than 75%, including mortgage and your new personal loan. Upgrade doesn’t require any minimum annual income, which is a big plus.

Application Process and Speed of Approval

The application process is pretty straightforward and takes only a few minutes. You just need to fill out some personal information, like your full name, address, date of birth, etc. After that, you will be asked to provide some info about your employment and income to demonstrate your ability to repay the loan.

Those who need emergency cash can have it in their account within one business day.

Additional Features

With Upgrade, you won’t only get a fast loan; there is a range of features to assist you with your finances. The company also utilizes soft credit checks, so you won’t have to worry about damaging your credit score. 

We loved the free credit health tools that give users insight into their scores. You’ll be able to receive regular tips and insights and track your credit progress easily.

Reputation

With an A+ rating with Better Business Bureau and a stellar reputation among users (4.7 on Trustpilot), Upgrade is a solid option for those applying for emergency loans online.

Bottom Line 

As long as you have a credit score of at least 560, Upgrade is worth considering as one of your options. With a simple application process and fast approval times, you can get the funds you need within 24 hours.

Reasons to Apply:

  • Low credit score requirements 
  • No minimum annual income
  • Credit Health tools
+ Show more
Read Full Review

5kFunds

Overview
4 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Min. Credit Score:
N/A
Estimated APR:
5.99%–35.99%
Loan Amount:
$1,000–$35,000
Loan Term:
60 days to 72 months

If you’re on the prowl for bad credit loans, another online marketplace to check out is 5kFunds. The Florida-based company covers almost all 50 states with its large network of reputable lenders. Applying is a breeze, and 5kFunds will find suitable options as soon as possible.

Types of Financing

5kFunds connects prospective borrowers with over 100 online lenders, most of which offer personal loans, with a maximum borrowing amount of $35,000. The platform doesn’t restrict loan purposes - you can settle medical bills, fund home improvements, or even pay for a holiday.

Aside from personal loan lenders, 5kFunds features financial companies offering emergency payday loans with high-interest rates. Payday loans are usually small - up to $400 or less - but their too-high interest rate makes them a last resort.

5kFunds loans are usually unsecured, but some lenders may offer secured options.

Loan Features

When applying for a loan, you need to mark the borrowing amount bracket you want to apply for. This way, 5kFunds will know which lenders may accept your request. Potential borrowers can apply for loans ranging between $1,000 and $35,000.

There are emergency payday loans found online that go lower and higher than these caps, but not at 5kFunds.

Your interest rate depends on your borrowing amount, financial stability, and repayment terms but usually stays within the 5.99% to 35.99% limits. Some lenders may charge origination fees or prepayment penalties, but 5kFunds won’t charge you any fee to apply through its platform.

Repayment term lengths for loans taken out through 5kFunds can be anywhere from 60 days to 72 months, depending on the lender you choose. Payments are either monthly or bi-monthly. And as they do anywhere else, 5kFunds payday loans for bad-credit borrowers have short repayment periods and high interest rates.

Requirements

You need to be at least 18 years old and a US resident. There’s no set credit score minimum - it’s the perfect place to get an emergency loan for bad credit. Of course, each lender reserves the right to apply its own eligibility criteria.

However, 5kFunds does not offer its services in all 50 states, and the company is not very transparent about this information. You’ll need to contact 5kFunds directly to find whether it operates in your state.

Application Process and Speed of Approval

You’re just a few simple steps away from applying online for emergency loans with 5kFunds. The application process is completely safe, and your request will be sent to several lenders that may fit your needs simultaneously.

Additional Features

There are no extras here: 5kFunds sends money into your account within one business day of offer acceptance and guarantees secure transactions.

Reputation

This loan service is not BBB accredited and has no BBB rating.

Bottom Line

A simple application process and a vast lender network are the main reasons to choose this online service. It’s also one of the best options for fast emergency loans.

Reasons to Apply:

  • Competitive rates
  • No credit score requirements
  • Over 100 lenders
+ Show more
Read Full Review

CashUSA.com

Overview
4 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Min. Credit Score:
Varies by lender
Estimated APR:
5.99%-35.99%
Loan Amount:
$500 to $10,000
Loan Term:
90 days to 72 months

CashUSA.com is an online loan marketplace best-known for its lax borrowing requirements and fast processing. If you’re looking for quick loans for bad credit, dive into our CashUSA.com review and see what this platform has to offer.

Types of Financing

CashUSA.com’s broad lending network comprises both state and tribal lenders. They all offer versatile emergency loans, including personal loans, lines of credit, and other financing products. Once you request a loan, CashUSA.com will send you back a list of recommended lenders with their respective offers.

Loan Features

Emergency loan applicants usually need a relatively small amount of money - up to $10,000 - to cover unexpected costs. At CashUSA.com, loan amounts range from $500 to $10,000.

High interest rates are a staple feature with emergency cash loans, particularly for borrowers with low credit scores. Most emergency loan lenders approve unsecured loans, which is excellent if you don’t have collateral but also adds to your interest rate.

The APR for CashUSA.com loans ranges from 5.99% to 35.99%. Monthly payments are calculated based on your credit score, income, and borrowing amount.

Requirements

CashUSA.com has relatively reasonable borrowing requirements. Applicants need to be US citizens that are at least 18 years old. The minimum monthly income is $1,000 after taxes, and an open account in your name.

If you have a bad credit score or no credit score at all, don’t worry - CashUSA.com grants emergency loans with no credit check.

Application Process and Speed of Approval

CashUSA.com is not a direct lender but a platform that connects you with multiple lenders. After you submit your application, the company forwards it to potential lenders, allowing you to pre-qualify with more lenders at the same time.

Filling in a loan request through CashUSA.com comes free of charge and without any obligation to accept one of the offers.

Use this advantage to consider each offer carefully and try to find one that’s practically tailor-made for you.

Additional features

Here, personal loans for poor credit are properly secured: CashUSA.com uses advanced technology to protect borrowers’ private information and transactions from scammers. CashUSA.com also helps you make your payments on time via its autopay option.

Reputation

Customer reviews are always something of a mixed bag, and this time is no different - customer complaints are focused on the company’s aggressive marketing, which is benign enough. On the other hand, they also mention the unauthorized use of Social Security numbers.

To boot, CashUSA.com is not BBB accredited and has an F rating on this site. Trustpilot gives this platform 2.5 stars out of five.

Bottom Line

CashUSA.com is a good option if you want to apply for emergency loans for poor credit at multiple lenders at the same time but be prepared for some pushy email promotion and maybe even SSN-security issues.

Reasons to Apply:

  • Quick application process
  • Soft credit check
  • End-to-end encryption
+ Show more
Read Full Review

LendingPoint

Overview
4.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Min. Credit Score:
580
Estimated APR:
9.99% to 35.99%
Loan Amount:
$2,000 – $36,500
Loan Term:
24 to 60 months

The next fintech platform on our list is LendingPoint. This company uses a proprietary underwriting model that looks beyond your credit score and considers other factors in your financial history.

This allows people to get cash loans for bad credit even in situations where other lenders may turn them down. LendingPoint offers a quick and easy online application process, reasonable interest rates and terms, and rapid approvals.

Types of Financing

At LendingPoint, you can apply for a range of loan amounts starting from $2,000 up to $36,500. The company enables borrowers to take out an unsecured personal loan to cover urgent expenses, medical and home improvement costs, consolidate debt or pay off credit cards and for other personal financial reasons.

Loan Features

With an estimated APR of 9.99% to 35.99%, LendingPoint is not the most affordable choice, but it’s far from the worst option around. On the brighter side, not only does it provide fixed-rate emergency installment loans for bad credit applicants, but the lender doesn’t charge any late payment fees.

Bear in mind that most states will have an origination fee, which can sometimes be as high as 6%.

Requirements

The maximum loan amount provided is based on what is considered affordable for customers, which can vary significantly based on the client. LendingPoint considers a variety of factors, including your current DTI (debt-to-income ratio) and PTI (payment-to-income ratio).

To estimate your eligibility, you’ll have to provide additional documents regarding your income, and have a credit score of at least 580.  

Application Process and Speed of Approval

The company has an easy online application process and a quick turnaround time so you can get your loan approved and funded in no time.

To get your emergency loans for bad credit with LendingPoint, all you have to do is fill in a straightforward online form with your personal information and data regarding your income and wait to be approved. The approval process is swift, and you can expect money on your account within one business day.

Additional Features

Before you decide to open an account with LendingPoint, you’ll have the option of calculating your loan and payment options with a free loan prequalification feature that doesn’t harm your credit score.

However, if you do decide to take a loan, you’ll be required to perform a “hard inquiry” before approval, which will show up on your credit report and possibly damage it. 

Reputation

When looking at emergency loans for bad credit in the online fintech market, few companies are safer than LendingPoint. With an A+ rating on BBB and a high 4.8-star rating on Trustpilot, this lending company is a reliable solution for those with bad credit.

With email and phone line support and a vast knowledge base, any potential issues with the loan will be answered and solved in a timely manner. 

Bottom Line 

LendingPoint is an excellent choice for borrowers with bad credit who need access to a fast and affordable personal loan.

The company offers a quick and easy online application process, reasonable interest rates and terms, and doesn’t charge unnecessary fees. If you are in the market for a personal loan, LendingPoint should be a strong consideration.

Reasons to Apply:

  • Smooth application process
  • Quick response time
  • No extra payments or loan prepayments
+ Show more
Read Full Review

Upstart

Overview
4.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Min. Credit Score:
None
Estimated APR:
3.09% - 35.99%
Loan Amount:
$1,000- $50,000
Loan Term:
3 or 5 years

Upstart is a California-based company that offers personal loans for various purposes - covering credit card debts, unexpected medical bills, or relocation costs. Upstart relies on artificial intelligence to predict a borrower’s creditworthiness.

Thanks to this assessment model, borrowers with low or nonexistent credit scores have better chances of getting a loan.

Types of Financing

If you need a lender that provides unsecured loans for bad credit, Upstart is worth checking out. It offers quick financing solutions to borrowers with emergency needs. All Upstart loans are unsecured, with no limitations on how you’re going to spend your money.

Loan Features

Possible borrowing amounts for Upstart’s personal loans range between $1,000 and $50,000 - a cap much higher than those commonly found with other emergency lenders. However, not all applicants qualify for the highest amounts, as your personal upper limit is based on your creditworthiness.

Also, when applying for emergency loans online, check the minimum loan amounts between states. The minimum Upstart loan amount is $6,000 in Ohio; $3,000 in Georgia, $5,100 for New Mexico, and $7,000 in Massachusetts. 

Upstart APR can be quite high - between 3.09% and 35.99% - and depends on your credit score, loan amount, and repayment terms.

Upstart isn’t the best option for borrowers who need flexible repayment options, either: It offers only three- or five-year terms. On the plus side, you can repay your loans earlier without penalties.

Requirements

Reasonable requirements for quick emergency loans are part of Upstart’s charm. The official minimum credit score you need to have is 580. However, the AI-powered application system will look into other criteria, as well.

Besides checking your FICO, monthly income, and credit history, Upstart also analyzes your employment history, area of residence, and education.

This model is beneficial for students with no credit score or regular borrowers with low FICO scores.

Application Process and Speed of Approval

Upstart allows borrowers to prequalify for loans at multiple online lenders. As you know, prequalification for emergency bad credit loans will not affect your credit score.

Once you start the procedure, Upstart will pull a soft credit check and then a hard one after you accept the loan offer. As soon as you’re approved, the money will be transferred to your account within one business day.

Additional Features

Upstart lets you change your payment date through its website at any time you want. It won’t affect your payments as long as the new date is within the grace period limits.

Reputation

Upstart is a reliable marketplace offering loans for bad credit and is BBB-accredited, with an A- rating. It also has five stars on Trustpilot.

Bottom Line

Thanks to its unconventional risk-assessment model, Upstart is the right solution for anyone with a low credit score. The main downside of taking out a loan through this platform is loan repayment: You can only get a three-year or a five-year term.

Reasons to Apply:

  • 15-day grace period
  • Fast online application
  • Reputable company
+ Show more
Read Full Review

Avant

Overview
4 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Min. Credit Score:
600
Estimated APR:
9.95%-35.99%
Loan Amount:
$2,000-$35,000
Loan Term:
24 to 60 months

Avant is an online lender that was established in 2012 and is headquartered in Chicago, Illinois. Since its founding, the company has issued over $6.5 billion in loan funds to more than 1.5 million people.

Avant offers unsecured personal loans that can be used to cover various emergency expenses and to consolidate existing debt. Following its mission to assist those with poor credit, loans that Avant provides will be in your account within one business day.

Types of Financing

Avant partners with WebBank to provide users with low to medium credit scores with unsecured personal loans. Loans can be used to consolidate debt, cover an emergency, fix a car, improve your home, or for various personal expenses.

You can apply for an amount as low as $2,000 if you need a quick fix or request up to $35,000 for higher costs that need to be covered. 

Loan Features

Depending on the loan terms, the estimated APR here is quite steep compared to competitors. Emergency loans for bad credit can be a lifesaver, but Avant’s APR ranging from 9.95% to 35.99% is definitely one of the less favorable options around.

Aside from this, there are additional costs that you might have to pay, and one of the steep ones is the origination fee, which can go up to 4.75%. Should you default with scheduled payments, you will have to pay a $25 late fee. Also, in case you do not pay fees initiated by Avant, you’ll be charged a Dishonored Payment Fee of $15. 

Requirements

To become eligible for Avant’s legit emergency loans, users have to have a credit score of 600 or above, be over 18 years old, have a monthly income of at least $1,200 (including alimony, child support, or separate maintenance income), a debt-to-income ratio of 70%, including rent and mortgage payments, and monthly free cash flow of at least $500.

All applicants will be required to submit documentation that confirms their identity, employment, and income and wait until the company verifies the data. Avant performs the identity check via electronic knowledge-based authentication (KBA).

Application Process and Speed of Approval

The whole loan application process is a breeze as you’ll be able to submit all the required documents and fill in the forms online. In most cases, you’ll get a decision on your loan within 24 hours. If you’re approved, the money will be deposited into your bank account as soon as the next business day.

Avant’s urgent loans for bad credit users are great for quick cash but don’t expect to get instant funding in most cases.

Additional Features

Avant has a mobile app where borrowers can make payments and access their payment history while on the go. We loved the automatic payment option that lets users repay the loan in a straightforward way via Automated Clearing House (ACH).

Finally, Avant is famous for its soft credit check feature; with it, you can see if you qualify for the loan without harming your credit score.

Reputation

With an A rating on BBB, Avant is a trusted source for emergency loans. Even though the firm has settled two lawsuits in recent years, consumers are generally happy with its quick and straightforward application process and helpful customer service staff accessible at any time.

Bottom Line 

Those in need of hardship loans for bad credit scores should consider Avant. The company’s minimum APR is pretty high, but loans get approved quickly, and the company has soft credit checks, so you won’t damage your credit score just by inquiring.

Reasons to Apply:

  • Swift approval time
  • Soft credit check 
  • Simple application process
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BadCreditLoans.com

Overview
4 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Min. Credit Score:
Lender-dependent
Estimated APR:
5.99% to 35.99%
Loan Amount:
$500 – $10,000
Loan Term:
90 days to 72 months

BadCreditLoans.com is a platform that connects you with a network of credible lenders, letting you compare them and find the one that suits you best. The types of loans offered range from personal and business loans to auto and mortgage loans. 

The company will assist you without demanding any charges or obligations, making it perfect for choosing the best online emergency loans. On the flip side, you’ll probably get spammed with promotional offers and credit-related marketing.

Types of Financing

The company provides applicants with a range of lenders that offer small unsecured loans. Those with poor credit scores can start with the lowest loan amount of $500, whereas applicants in a better financial situation can borrow as much as $10,000. 

Depending on the lender’s repayment scheme, you’ll be expected to pay the loan back within 90 days to 72 months. The loans can be used for whatever emergency you have, including repaying debts and refinancing credit card debts.

Loan Features

Even though each particular lender has its own terms, the platform promises that you’ll be able to find an APR of between 5.99% and 35.99%.

Those in dire need of an emergency loan with bad credit won’t mind paying origination or late fees; however, the company doesn’t disclose the costs as they are lender-dependent. That’s why we recommend you carefully read through the offers and contracts before signing anything. 

Requirements

To qualify for a loan, you’ll need to meet pretty standard requirements: you must be a US citizen that’s at least 18 years old, have a regular income, and possess a checking account. Once you manage to prove your eligibility, the company will look further into your credit score. 

There are people who’ve managed to get approved with scores of around 500 or even lower but don’t expect to get favorable terms. The company won’t approve emergency loans for unemployed applicants.

Application Process and Speed of Approval

The application is straightforward and requires a couple of minutes of your time. Once you fill in the online form and provide proof of having citizenship, a regular income, and a checking account in your name, BadCreditLoans.com will email you offers from lenders that meet your criteria. 

You’ll be free to turn all the offers down or choose the one that suits you after reading its terms and conditions carefully. BadCreditLoans.com will ensure that you get the funds in your account within one business day from making a definitive choice.

Additional Features

Aside from providing you with pandemic emergency loans for bad credit, this lending marketplace offers additional financial services such as business loans, student loans, car loans, and title loans. If the company fails to find a suitable loan offer, it will connect you with other credit-related products or services. 

The site protects your personal information with advanced encryption technology, so you can rest easy that your information will only reach those it needs to.

Reputation

Even though the company is rated poorly on Better Business Bureau and Trustpilot, consider that it launched just recently and needs some time to build a better reputation.

It’s also worth keeping in mind that as a loan marketplace, bad reviews often come from people disgruntled about the services of individual lenders which the company may have since taken off their partner list.

Bottom Line 

With a vast network of credible lenders and competitive APR rates, combined with quick sign-up and approval procedures, BadCreditLoans.com is a loan marketplace worth checking out.

That said, if you’re unwilling to take a risk with companies that don’t have the best reputation in the community, it’s best to stick to one of the other options on our list.

Reasons to Apply:

  • Rapid disbursement of funds
  • Competitive APR
  • Wide network of lenders
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CashAdvance.com

Overview
3.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Min. Credit Score:
N/A
Estimated APR:
14%–1,564%
Loan Amount:
$200–$1,000
Loan Term:
7 days to 12 months

CashAdvance.com is another well-known marketplace for emergency loans for bad credit. This online lending platform has been in business since 1997, offering small personal loans through its extensive network of reputable lenders.

If you’re looking for fast funding, you can get CashAdvance.com products across the US.

Types of Financing

Online lenders partnered with CashAdvance.com provide traditional loans for borrowers who need a small personal loan, but can’t qualify at conventional banks. Not only that, but CashAdvance.com’s network includes lenders that offer lines of credit, too. 

Unlike other marketplaces, CashAdvance.com specializes in getting the smallest of the small emergency loans to those in need: The minimum borrowing amount is $200, while the maximum amount goes up to $1000. There are no limitations on how the money will be used.

Loan Features

If you’re applying for an emergency cash loan at CashAdvance.com, expect higher interest rates. First off, the platform offers only short-term loans, and the repayment period can be as short as a single week. The maximum repayment period is 12 months. 

Your monthly debt payment obligations will comprise both principal and interest, so there’s a good chance they’ll be pretty high. After all, this platform offers an emergency cash advance to bad credit borrowers, and the best loan conditions don’t come with those.

The APR differs from lender to lender: For instance, a $500 loan with a one-year term will have an APR between 15% and 30% - really high compared to other platforms, so you should choose the loan offer with the lowest rates.

Requirements

First, you’ll need to meet basic loan criteria, i.e., be at least 18 years old, a US resident, and have a valid bank account.

CashAdvance.com will also look into your employment records and ask you to state your monthly income, which shouldn’t be lower than $999. So if you’re looking for emergency loans with no job, it’s better to apply through some other platform.

CashAdvance.com doesn’t display minimum FICO requirements on its website, but it encourages borrowers to apply for a loan even if their credit score is extremely low. State restrictions are the main downside of CashAdvance.com fast loans for bad credit.

Application Process and Speed of Approval

The online application on CashAdvance.com is straightforward: You need to fill the website form and create an account. Then, this platform offering loans for emergencies reviews your requirements and forwards your request to lenders that might accept your application. If you accept an offer, CashAdvance.com will deposit the money into your bank account the next business day.

Additional Features

When applying for an emergency loan at CashAdvance.com, you’ll need to provide your contact and bank account information and Social Security number. This data will be shared with the lenders in the CashAdvance.com network. The platform uses 256-bit encryption to protect your data and activities from third parties.

Another good thing about CashAdvance.com is the autopay option. To receive payments and fees for a loan that’s due, emergency loan lenders will automatically withdraw the funds from your account before the due date expires, so you’ll avoid late payment fees.

Reputation

CashAdvance.com has a decent reputation among its clients. The platform is praised for fast funding and polite customer service. The business, however, is not BBB accredited and its rating on this site is A.

Bottom Line

If you don’t have a good credit score, but you need a small short-term loan immediately, CashAdvance.com is a good option. Be wary, though - the APR can be enormous, depending on the lender and terms you choose.

Reasons to Apply:

  • Autopay option
  • Fast funding
  • Excellent customer support
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Fast5kLoans

Overview
3.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Min. Credit Score:
Varies by lender
Estimated APR:
5.99% to 35.99%
Loan Amount:
$500 to $35,000
Loan Term:
60 days to 72 months

The following company on our list is Fast5kLoans. It’s not a direct lender, but a marketplace that connects various lending companies with prospective borrowers.

Fast5kLoans is an excellent place to go if your credit score is far from perfect, as it can help you find a source of funding whose loan requirements fit your needs.

Types of Financing

Fast5kLoans is home to multiple lenders offering loans for bad-credit consumers. The minimum amount you can apply for is just $500, while the highest loan you can ask for is $35,000.

Of course, for higher borrowing limits, you’ll need to meet stricter credit requirements. Lenders will check your credit history and financial stability to give you a larger amount of money.

Fast5kLoans lenders will not impose any rules on how you can use their money. Whether you want to pay medical bills, buy a new car, or go on a vacation, Fast5kLoans will help you.

Loan Features

Fast5kLoans won’t charge anything for its services. However, your lender will set the overall cost of a loan. Fast5kLoans is in a partnership with various lenders, so expect to see different interest rates. APR can range between 5.99% and 35.99%, depending on your credit score, credit history, and other criteria.

The repayment term also depends on the specific lender’s requirements. Generally, you can apply for a loan with a term length as short as 60 days or as long as 72 months.

You can make repayments either once a month or every two weeks. The lenders may also impose late-payment penalties, so don’t forget to check for those before accepting a loan.

Requirements

Like almost all other lenders and lending marketplaces, Fast5kLoans allows loans for US citizens - with proof of residency - who are at least 18 years old. It’s also necessary to have a stable income and proof of employment, as well as a bank account that can receive direct deposits.

Application Process and Speed of Approval

The Fast5kLoans online application procedure requires the borrower to provide basic personal information - name, home address, Social Security number, etc. After you fill the application, Fast5kLoans will send you a list of lenders that meet your borrowing needs.

Although you don’t need to have a good credit score to get funds, the lenders will do a hard credit check. If multiple lenders perform this kind of credit check, it can decrease your credit score by a few points.

Additional Features

Don’t expect any extra features with Fast5kLoans. The company will transfer the money into your account, ensuring a secure transaction. After that, your contract is fulfilled.

Reputation

Fast5kLoans is not accredited by BBB, but that’s not its biggest problem: The company has an F score on this site and a few negative clients’ reviews to boot.

To get in touch with Fast5kLoans, you’ll need to email the company at [email protected]. This means you won’t have any way of knowing how quickly you’ll get a response — if at all.

Bottom Line

In our opinion, you should give a chance to Fast5kLoans, but only after you thoroughly check the contract details. You should also inform if the company provides services in your country, as the Fast5kLoans team says it offers loans in almost all 50 states without specifying which ones.

Reasons to Apply:

  • Small loans available
  • Easy application
  • No fees
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Happy Money

Overview
4.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Min. Credit Score:
640
Estimated APR:
7.99% to 29.99%
Loan Amount:
$5,000 to $40,000
Loan Term:
2 to 5 years

Happy Money is a California-based provider offering personal loans for borrowers who want to pay off debts on their credit cards.

Happy Money is a reputable company that has been providing its services to US citizens since 2009 and has a large base of satisfied clients. However, don’t expect to benefit from Happy Money’s services unless you have at least a 640 score.

Types of Financing

Happy Money collaborates with multiple lenders, but the only product you can apply for is a fixed-rate debt consolidation loan for credit cards. It means that no matter how many credit cards you need to pay off, the debt will be rolled into one monthly payment with a more affordable percentage rate.

The loan amount you can apply for can be anywhere between $5,000 to $40,000. Depending on your credit score and payment history, Happy Money will give you a personalized offer.

Loan Features

Happy Money loans are a good option for borrowers who need to cover significant debts on their credit cards. The APR for Happy Money loans ranges between 7.99% and 29.99%. Origination fees can go up to 5%.

The good news is that the company doesn’t charge application or processing fees. In addition, you won’t pay any early prepayment fees or late payment fees.

Repayment term lengths for loans taken out through Happy Money are between two and five years.

Requirements

To apply for a Happy Money loan, you need to have at least a 640 FICO score. Of course, the higher your credit score, the better your potential loan contract. You also need to have no credit delinquencies - payments that you haven’t settled yet.

There are a few other things that the company may check before approving your application, including your debt-to-income ratio, age of credit history, and other things that determine your financial stability.

Application Process and Speed of Approval

Happy Money is an online lending company, meaning that you can finish the whole application procedure without stepping into a physical office. The “Check my rate button” is featured on its website, and clicking on it starts the application. Like other similar companies, Happy Money will ask for your personal information.

Additional Features

Once you become Happy Money’s client, you'll be allowed to enjoy member benefits. For instance, the company offers a free FICO check every month. The Happy Money team of financial experts will also provide financial advice for free and help you solve any financial problem that may occur.

If you pay off your loan rates on time, Happy Money will also help you improve your credit score.

Reputation

Happy Money is a reputable company with an A+ score on BBB. Happy Money clients are generally satisfied with the company’s fast application procedure, always available professional support, and flexible repayment terms.

Bottom Line 

Before applying for a Payoff by Happy Money loan, check if the company offers service in your state of residency.

Reasons to Apply:

  • No prepayment or late payment fees
  • Free FICO check every month
  • Professional assistance
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Read Full Review

Fortunly’s Guide to Emergency Lending

If you’ve ever had an unexpected medical treatment or you needed to pay for surprise home repairs, you know how difficult it can be to find extra money right away.

Of course, setting some money aside every now and again to cover such expenses is all well and good, but many people don’t have the luxury of regular savings.

Such occasions often call for emergency loans for bad credit. Luckily, many lenders and credit card issuers can help you get funds the same day you apply for a loan. If you have an account with a credit union or a federal credit union, those are also possible sources of emergency loans for you. 

What Is an Emergency Loan?

To get emergency funds, you can take out a personal loan. Seeing as how quick-cash loans for bad credit have no purpose restrictions, they can easily cover surprise expenses.

The first thing to know about how emergency loans work is that they are typically unsecured and can get deposited into your account within one business day of accepting an offer.

The fastest option among emergency hardship loans is a payday loan. However, turn to payday lenders only as a last resort, as they charge incredibly high interest rates and offer tight repayment periods.

A personal loan is more affordable, even if your credit score is terrible. And if it’s 580 or higher, you definitely don’t need to use the payday option.

Furthermore, even if you have a poor credit score, a personal loan comes with way better loan terms and repayment possibilities than any of the payday options on the market.

Why Should You Use Emergency Cash Loans for Bad Credit?

Emergency loans are small. They usually range between $200-$500, but many lenders have higher borrowing limits. If you don’t have enough money saved for emergencies, this type of loan can help. 

A good credit score means you’ll probably get a decent loan offer, but you can get a loan without it, too - just with higher rates. So choose carefully if you decide to get some emergency funding this way. 

First off, don’t take more money than you need. Emergency car loans, loans for medical costs, and all others stack up quickly, so calculate your expenses to a cent and apply for an amount that covers them exactly. Don’t use the money on anything else.

Lenders usually don’t put any restrictions on loan-spending purposes. However, emergency loans are expensive to repay, so you shouldn’t finance presents or vacations with them. 

The primary reason for taking out emergency loans is covering medical bills, home repairs, necessary purchases, or late payments. There are also emergency mortgage loans, car repair loans, or those for covering funeral costs.

Evaluation Criteria

How We Evaluate Emergency Loans for Bad Credit Borrowers

Emergency loans or crisis loans are small personal loans made to cover unexpected costs. These loans tend to be unsecured - no collateral needed. But that’s not even the best part - emergency loans work because they get approved almost instantly, even if you don’t have a stellar credit score.

Of course, there’s a catch or two – lending to an unreliable client is risky for the lender, so the quick-cash loans for bad credit may result in a high monthly payment.

Online lenders and marketplaces offer varying loan amounts, competitive APR, and versatile repayment options, but they don’t have as many requirements for applicants as they do for regular loans.

Loan types can range from emergency payday loans with no credit check to unsecured short-term personal loans. 

If you urgently need to borrow money, that probably means you need your cash as soon as possible and don’t have time to compare numerous lenders manually. We choose the best loan marketplaces, working with industry-leading online lenders, to make your job easier. 

Still, you’ll need to do some of the comparing yourself. To that end, we shared our methodology for evaluating a given lender, so you’ll know what criteria to look into as well.

Types of Financing

Emergency loans take multiple forms, so here’s a short overview of each emergency loan option:

Personal Loans

Personal loans are the most common type of easy loans for bad credit. Most lenders offer some sort of unsecured loan for emergency purposes, without considering just your credit score.

Payday Loans

Payday loans are a form of emergency loan: They’re small - usually up to $500 - used to cover unexpected costs. But because they don’t require a credit check, you can expect extremely high interest rates and a condensed repayment period. In short, avoid them if possible.

Credit Card Cash Advance

A cash advance from your credit card company can also serve as an emergency cash loan for bad credit. However, credit card cash advances are even more expensive than personal loans, so it’s better to find a different solution.

Emergency Loan Features

Loans from each lender have their own features to get acquainted with before submitting your application.

Loan Amount

Emergency loans typically range from $200 to $500, but many lenders allow both higher and lower borrowing amounts.

However, the thing with emergency loans is that they need to be repaid quickly and with high interest rates, so only apply for the amount you actually need to cover costs.

Monthly Rates

The next thing to check out is the lender’s rates for personal emergency loans. Thankfully, the lender allows you to check your personalized loan rates and potential installments before submitting your application.

Still, fees can be extremely high, especially if you have a poor credit score or open bankruptcies.

Term Length

Some lenders offer emergency loans with a maximum term length of only a few weeks, resulting in a high monthly payment that doesn’t make the loan worthwhile. But there should be some options for longer terms than that.

Repayment options also vary between monthly or bi-weekly installments. If you anticipate needing extra time to pay off a loan, consider lenders that offer emergency installment loans rather than payday loans.

Emergency Loan Requirements

Online services connecting borrowers with lenders set their own loan requirements, but additional eligibility criteria may apply depending on your lender of choice. Luckily, emergency loan requirements are generally easy to meet.

Most lenders will approve your application regardless of your FICO score, but your creditworthiness will influence rates and payments. Lenders will also check your bank accounts, credit card balances, and job history before sending you a loan offer.

Application Process and Speed of Approval

A smooth application and loan approval process is always appreciated, but it’s more of a necessity for emergency loans. The best online marketplaces for instant loans for bad credit feature lenders with streamlined websites and straightforward application procedures.

The companies we evaluated will review your request instantly and forward it to their lenders at once to expedite the release of loan proceeds. The main advantage of pre-qualifying with multiple lenders is loan term comparison to help you decide between them.

Funding time is probably the most important thing to pay attention to when choosing an emergency loan. Thankfully, most companies can transfer loan proceeds to your account within 24 hours or as soon as you accept a loan offer. 

Additional Features

Even emergency loans have added benefits: For example, emergency funds for bad credit should be transferred through a safe platform that keeps your private information protected from third parties. 

Reputation

Knowing what their previous clients say about prospective lenders is always a good thing. To help you find out about your potential creditors, we looked into each company’s Better Business Bureau rating, as well as customer reviews.

FAQ

Can I get an emergency loan with bad credit?

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Yes. Some lenders offer emergency loans without credit checks in exchange for higher monthly rates.

How can I get emergency money fast?

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You can get emergency funds from online lenders. These specialized loans are like smaller traditional personal loans. You can apply for one through any platform listed here.

How can I get an emergency loan with no job?

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There are a few options if you need an emergency loan but don’t have a steady job. You may be able to get a loan from a family member or friend, or you may be able to get a short-term loan from a lending institution. Title loans are among your options if you don’t have a job but have a car, as your car title can serve as collateral.

There are also a few government programs that offer emergency financial assistance to those in need. If you are not able to get a loan from any of these sources, you may still be able to qualify for a grant from a private foundation or charity.

What's the easiest loan to get with bad credit?

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If you have a poor credit score, you can compare different lenders offering emergency loans for bad credit.  Emergency loans are also approved by credit unions, but of course you would first need to have an account with a credit union.