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Emergency Loans: How to Get a Personal Loan Fast

If you need cash quickly, an emergency personal loan is a much better option than a payday, pawn shop, or car title loan.

Taylor Medine Taylor Medine Edited by Ashley Harrison Updated November 18, 2022

Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as "Credible."

If you’re facing a financial emergency and don’t have enough money set aside in savings to cover the expenses, emergency loans might help.

These are personal loans with fast funding times to quickly get you the money you need.

Here’s what you should know about emergency loans and how to get them:

  • Emergency loans
  • How to qualify for an emergency loan
  • Qualifying for an emergency loan with bad credit
  • What can emergency loans be used for?
  • How to compare emergency loan lenders
  • How to apply for an emergency loan
  • Be careful with other types of emergency loans
  • Alternatives to emergency loans
  • Build an emergency fund

Emergency loans

Several lenders offer personal loans for emergencies. You’ll typically need good credit and verifiable income to qualify — however, some lenders have less strict requirements than others.

Here are Credible’s partner lenders that provide emergency loans:

LenderFixed ratesMin. credit scoreTime to fund


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
9.95% - 35.99% APR 550As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
  • Fixed APR: 9.95% - 35.99% APR
  • Variable APR: N/A
  • Min. credit score: 550
  • Loan amount: $2,000 to $35,000**
  • Loan terms (years): 2, 3, 4, 5*
  • Time to fund: As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except CO, IA, HI, VT, NV NY, WV
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Loan servicer: Avant
  • Loan Uses: Debt consolidation, emergency expense, life event, home improvement, and other purposes
  • Min. Income: $1,200 monthly


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
7.99% - 15.19% APR 700Next business day
  • Fixed APR: 7.99% - 15.19% APR
  • Variable APR: N/A
  • Min. credit score: 700
  • Loan amount: $10,000 to $50,000
  • Loan terms (years): 3 to 6
  • Time to fund: Next business day
  • Fees: No prepayment penalty
  • Discounts: None
  • Eligibility: Available in all 50 states
  • Customer service: Phone
  • Soft credit check: Yes
  • Min. Income: Does not disclose
  • Loan Uses: Debt consolidation, home improvement, self-employment, and other purposes


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
8.99% - 35.99% APR 600As soon as 1 to 3 business days after successful verification
  • Fixed APR: 8.99% - 35.99% APR
  • Variable APR: N/A
  • Min. credit score: 600
  • Loan amount: $2,000 to $50,000
  • Loan terms (years): 2, 3, 4, 5
  • Time to fund: As soon as 1 to 3 business days after successful verification
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except DC, IA, VT, and WV
  • Customer service: Phone
  • Soft credit check: Yes
  • Loan servicer: Best Egg and Blue Ridge Bank
  • Min. Income: None
  • Loan Uses: Credit card refinancing, debt consolidation, home improvement, and other purposes


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
6.99% - 24.99% APR 660As soon as the next business day after acceptance
  • Fixed APR: 6.99% - 24.99% APR
  • Min. credit score: 660
  • Loan amount: $2,500 to $35,000
  • Loan terms (years): 3, 4, 5, 6, 7
  • Time to fund: As soon as the next business day after acceptance
  • Fees: Late fee
  • Discounts: None
  • Eligibility:  Available in all 50 states
  • Customer service: Phone
  • Soft credit check: Yes
  • Loan Uses: Auto repair, credit card refinancing, debt consolidation, home remodel or repair, major purchase, medical expenses, taxes, vacation, and wedding


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
7.99% - 35.99% APR 580As soon as the next business day
  • Fixed APR: 7.99% - 35.99% APR
  • Min. credit score: 580
  • Loan amount: $2,000 to $36,500
  • Loan terms (years): 2, 3, 4, 5, 6
  • Time to fund: As soon as the next business day
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except NV and WV
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. Income: $20,000
  • Loan Uses: Home improvement, consolidate debt, credit card refinancing, relocate, make a large purchase, and other purposes


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
5.99% - 23.99% APR 660As soon as the same business day
  • Fixed APR: 5.99% - 23.99% APR
  • Min. credit score: 660
  • Loan amount: $5,000 to $100,000
  • Loan terms (years): 2, 3, 4, 5, 6, 7*
  • Time to fund: As soon as the same business day
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Available in all states except RI and VT
  • Customer service: Phone, email
  • Soft credit check: No
  • Loan servicer: LightStream
  • Min. Income: Does not disclose
  • Loan Uses: Credit card refinancing, debt consolidation, home improvement, and other purposes


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
18.0% - 35.99% APR NoneAs soon as 1 to 2 business days after approval
  • Fixed APR: 18.0% - 35.99% APR
  • Min. credit score: None
  • Loan amount: $1,500 to $20,000
  • Loan terms (years): 2, 3, 4, 5
  • Time to fund: As soon as 1 to 2 business days after approval
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Must have photo I.D. issued by U.S. federal, state or local government
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. Income: Does not disclose


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
6.99% - 35.99% APR 640As soon as one business day
  • Fixed APR: 6.99% - 35.99% APR
  • Min. credit score: 640
  • Loan amount: $2,000 to $50,000
  • Loan terms (years): 2, 3, 4, 5
  • Time to fund: As soon as one business day
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except IA, ND, WV
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. Income: None
  • Loan Uses: Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
11.69% - 35.93% APR7 560Within one day, once approved9
  • Fixed APR: 11.69% - 35.93% APR7
  • Min. credit score: 560
  • Loan amount: $1,000 to $50,000
  • Loan terms: 3 to 5 years 8
  • Time to fund: Within one day, once approved9
  • Loan types: Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: A U.S. citizen or permanent resident; not available in DC, SC, WV
  • Customer service: Phone, email
  • Soft credit check: Yes


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
7.96% - 35.97% APR 560Within a day of clearing necessary verifications
  • Fixed APR: 7.96% - 35.97% APR
  • Min. credit score: 560
  • Loan amount: $1,000 to $50,000*
  • Loan terms (years): 2 to 7
  • Time to fund: Within a day of clearing necessary verifications
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except West Virginia
  • Customer service: Email
  • Soft credit check: Yes
  • Min. Income: Does not disclose
  • Loan Uses: Debt consolidation, credit card refinancing, home improvement, and other purposes


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
5.4% - 35.99% APR4 580As fast as 1 business day6
  • Fixed APR: 5.4% - 35.99% APR4
  • Min. credit score: 580
  • Loan amount: $1,000 to $50,0005
  • Loan terms (years): 3 to 5 years4
  • Time to fund: As fast as 1 business day6
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all 50 states
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. Income: $12,000
  • Loan Uses: Payoff credit cards, consolidate debt, take a course or bootcamp, relocate, make a large purchase, and other purposes
Compare rates from these lenders without affecting your credit score. 100% free!

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All APRs reflect autopay and loyalty discounts where available | LightStream disclosure | 10SoFi Disclosures | Read more about Rates and Terms

Avant

With Avant, you could get a personal loan up to $35,000 with funding as soon as the next business day. Avant could also be a good choice if you’re looking for a personal loan for bad credit.

4.5
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates and terms
Fees and Discounts
Customer Experience
Avant Personal Loans
Fixed APR
Range of fixed rates available from this lender
9.95% - 35.99% APR
Min. credit score
Minimum credit score needed to qualify
550
Loan amount
Total amount you can borrow from this lender
$2,000 to $35,000**
Time to fund
How long it takes to receive your money
As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)

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  • Fixed APR: 9.95% - 35.99% APR
  • Variable APR: N/A
  • Min. credit score: 550
  • Loan amount: $2,000 to $35,000**
  • Loan terms (years): 2, 3, 4, 5*
  • Time to fund: As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except CO, IA, HI, VT, NV NY, WV
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Loan servicer: Avant
  • Loan Uses: Debt consolidation, emergency expense, life event, home improvement, and other purposes
  • Min. Income: $1,200 monthly

Axos Bank

Axos Bank offers personal loans for up to $50,000 with funding as soon as the next business day if you’re approved. To qualify for a personal loan with Axos, you’ll generally need good to excellent credit.

4.6
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates and terms
Fees and Discounts
Customer Experience
Axos Personal Loans
Fixed APR
Range of fixed rates available from this lender
7.99% - 15.19% APR
Min. credit score
Minimum credit score needed to qualify
700
Loan amount
Total amount you can borrow from this lender
$10,000 to $50,000
Time to fund
How long it takes to receive your money
Next business day

Ready to find a personal loan?
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  • Fixed APR: 7.99% - 15.19% APR
  • Variable APR: N/A
  • Min. credit score: 700
  • Loan amount: $10,000 to $50,000
  • Loan terms (years): 3 to 6
  • Time to fund: Next business day
  • Fees: No prepayment penalty
  • Discounts: None
  • Eligibility: Available in all 50 states
  • Customer service: Phone
  • Soft credit check: Yes
  • Min. Income: Does not disclose
  • Loan Uses: Debt consolidation, home improvement, self-employment, and other purposes

Best Egg

Best Egg loans are available for up to $50,000 and are typically funded in one to three business days after verification. You might also be able to qualify for a lower interest rate with Best Egg than you’d get with a traditional lender.

4.5
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates and terms
Fees and Discounts
Customer Experience
Best Egg Personal Loans
Fixed APR
Range of fixed rates available from this lender
8.99% - 35.99% APR
Min. credit score
Minimum credit score needed to qualify
600
Loan amount
Total amount you can borrow from this lender
$2,000 to $50,000
Time to fund
How long it takes to receive your money
As soon as 1 to 3 business days after successful verification

Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.

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  • Fixed APR: 8.99% - 35.99% APR
  • Variable APR: N/A
  • Min. credit score: 600
  • Loan amount: $2,000 to $50,000
  • Loan terms (years): 2, 3, 4, 5
  • Time to fund: As soon as 1 to 3 business days after successful verification
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except DC, IA, VT, and WV
  • Customer service: Phone
  • Soft credit check: Yes
  • Loan servicer: Best Egg and Blue Ridge Bank
  • Min. Income: None
  • Loan Uses: Credit card refinancing, debt consolidation, home improvement, and other purposes

Discover

Discover offers several types of financial products, including personal loans ranging from $2,500 to $35,000. With a Discover personal loan, funds could be sent as soon as the next business day after acceptance.

4.4
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates and terms
Fees and Discounts
Customer Experience
Discover Personal Loans
Fixed APR
Range of fixed rates available from this lender
6.99% - 24.99% APR
Min. credit score
Minimum credit score needed to qualify
660
Loan amount
Total amount you can borrow from this lender
$2,500 to $35,000
Time to fund
How long it takes to receive your money
As soon as the next business day after acceptance

Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.

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  • Fixed APR: 6.99% - 24.99% APR
  • Min. credit score: 660
  • Loan amount: $2,500 to $35,000
  • Loan terms (years): 3, 4, 5, 6, 7
  • Time to fund: As soon as the next business day after acceptance
  • Fees: Late fee
  • Discounts: None
  • Eligibility:  Available in all 50 states
  • Customer service: Phone
  • Soft credit check: Yes
  • Loan Uses: Auto repair, credit card refinancing, debt consolidation, home remodel or repair, major purchase, medical expenses, taxes, vacation, and wedding

LendingPoint

LendingPoint loans are generally geared toward borrowers with poor or fair credit, which could make it easier to get approved. With LendingPoint, you can borrow up to $36,500, with funding as soon as the next business day.

4.7
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates and terms
Fees and Discounts
Customer Experience
LendingPoint Personal Loans
Fixed APR
Range of fixed rates available from this lender
7.99% - 35.99% APR
Min. credit score
Minimum credit score needed to qualify
580
Loan amount
Total amount you can borrow from this lender
$2,000 to $36,500
Time to fund
How long it takes to receive your money
As soon as the next business day

Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.

Check Personalized Rates
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  • Fixed APR: 7.99% - 35.99% APR
  • Min. credit score: 580
  • Loan amount: $2,000 to $36,500
  • Loan terms (years): 2, 3, 4, 5, 6
  • Time to fund: As soon as the next business day
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except NV and WV
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. Income: $20,000
  • Loan Uses: Home improvement, consolidate debt, credit card refinancing, relocate, make a large purchase, and other purposes

LightStream

If you need a larger personal loan, LightStream could be a good option. LightStream offers personal loans up to $100,000 and funding potentially as soon as the same business day.

4.9
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates and terms
Fees and Discounts
Customer Experience
LightStream Personal Loans
Fixed APR
Range of fixed rates available from this lender
5.99% - 23.99% APR
Min. credit score
Minimum credit score needed to qualify
660
Loan amount
Total amount you can borrow from this lender
$5,000 to $100,000
Time to fund
How long it takes to receive your money
As soon as the same business day

Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.

Check Personalized Rates
Checking rates won't affect your credit score
View Details
  • Fixed APR: 5.99% - 23.99% APR
  • Min. credit score: 660
  • Loan amount: $5,000 to $100,000
  • Loan terms (years): 2, 3, 4, 5, 6, 7*
  • Time to fund: As soon as the same business day
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Available in all states except RI and VT
  • Customer service: Phone, email
  • Soft credit check: No
  • Loan servicer: LightStream
  • Min. Income: Does not disclose
  • Loan Uses: Credit card refinancing, debt consolidation, home improvement, and other purposes

Prosper

With Prosper, you can borrow $2,000 to $50,000 with repayment terms ranging from two to five years. If you’re approved, you could have your loan funded in as little as one business day.

4.6
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates and terms
Fees and Discounts
Customer Experience
Prosper Personal Loans
Fixed APR
Range of fixed rates available from this lender
6.99% - 35.99% APR
Min. credit score
Minimum credit score needed to qualify
640
Loan amount
Total amount you can borrow from this lender
$2,000 to $50,000
Time to fund
How long it takes to receive your money
As soon as one business day

Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.

Check Personalized Rates
Checking rates won't affect your credit score
View Details
  • Fixed APR: 6.99% - 35.99% APR
  • Min. credit score: 640
  • Loan amount: $2,000 to $50,000
  • Loan terms (years): 2, 3, 4, 5
  • Time to fund: As soon as one business day
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except IA, ND, WV
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. Income: None
  • Loan Uses: Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes

Universal Credit

Borrowers with poor credit can get a loan up to $20,000 with Universal Credit. Repayment terms are three to five years, with funding as soon as one day, once approved.

4.6
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates and terms
Fees and Discounts
Customer Experience
Universal Credit Personal Loans
Fixed APR
Range of fixed rates available from this lender
11.69% - 35.93% APR7
Min. credit score
Minimum credit score needed to qualify
560
Loan amount
Total amount you can borrow from this lender
$1,000 to $50,000
Time to fund
How long it takes to receive your money
Within one day, once approved9

Ready to find a personal loan?
Compare rates from top personal loan lenders to find the right one for you.

Check Personalized Rates
Checking rates won't affect your credit score
View Details
  • Fixed APR: 11.69% - 35.93% APR7
  • Min. credit score: 560
  • Loan amount: $1,000 to $50,000
  • Loan terms: 3 to 5 years 8
  • Time to fund: Within one day, once approved9
  • Loan types: Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: A U.S. citizen or permanent resident; not available in DC, SC, WV
  • Customer service: Phone, email
  • Soft credit check: Yes

Upgrade

Upgrade is another lender willing to work with borrowers with less than stellar credit. You could get a loan up to $35,000 with Upgrade, with funding as fast as a day of clearing verifications.

4.8
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates and terms
Fees and Discounts
Customer Experience
Upgrade Personal Loans
Fixed APR
Range of fixed rates available from this lender
7.96% - 35.97% APR
Min. credit score
Minimum credit score needed to qualify
560
Loan amount
Total amount you can borrow from this lender
$1,000 to $50,000*
Time to fund
How long it takes to receive your money
Within a day of clearing necessary verifications

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  • Fixed APR: 7.96% - 35.97% APR
  • Min. credit score: 560
  • Loan amount: $1,000 to $50,000*
  • Loan terms (years): 2 to 7
  • Time to fund: Within a day of clearing necessary verifications
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except West Virginia
  • Customer service: Email
  • Soft credit check: Yes
  • Min. Income: Does not disclose
  • Loan Uses: Debt consolidation, credit card refinancing, home improvement, and other purposes

Upstart

Loans from Upstart are available from $1,000 to $50,0005. With Upstart, you could get your funds within one to three business days.

4.6
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates and terms
Fees and Discounts
Customer Experience
Upstart Personal Loans
Fixed APR
Range of fixed rates available from this lender
5.4% - 35.99% APR4
Min. credit score
Minimum credit score needed to qualify
580
Loan amount
Total amount you can borrow from this lender
$1,000 to $50,0005
Time to fund
How long it takes to receive your money
As fast as 1 business day6

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  • Fixed APR: 5.4% - 35.99% APR4
  • Min. credit score: 580
  • Loan amount: $1,000 to $50,0005
  • Loan terms (years): 3 to 5 years4
  • Time to fund: As fast as 1 business day6
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all 50 states
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. Income: $12,000
  • Loan Uses: Payoff credit cards, consolidate debt, take a course or bootcamp, relocate, make a large purchase, and other purposes

Learn More: Where to Get a Personal Loan

How to qualify for an emergency loan

Qualifying for a personal loan for emergencies is similar to getting approved for most other loans. The lender will typically consider your credit history, income, and ability to repay the loan in the future to determine if you’re eligible.

Here are a few ways you could improve your odds of loan approval:

  • Avoid taking out other new credit
  • Keep your credit card balances low
  • Make any existing loan payments on time

Qualifying for an emergency loan with bad credit

You’ll typically need good to excellent credit to qualify for a personal loan — a good credit score is usually considered to be 700 or higher. However, some lenders specialize in bad credit loans — which means you might still be able to get an emergency loan if you have poor or even no credit.

Just keep in mind that personal loans for bad credit generally come with higher interest rates compared to good credit loans.

Tip: If you have poor credit and are struggling to get approved for a personal loan, consider applying with a creditworthy cosigner to improve your approval chances. Not all lenders allow cosigners on personal loans, but some do.

Even if you don’t need a cosigner to qualify, having one might get you a lower interest rate than you’d get on your own. Just keep in mind that a cosigner is legally responsible for the loan if you can’t make your payments.

Check Out: Improve Your Personal Loan Application: Tips for Boosting Your Chances of Loan Approval

What can emergency loans be used for?

An emergency personal loan can be used to cover nearly any personal expense. For example, you could take out a personal loan for:

  • Medical bills
  • Dental costs
  • Car repairs
  • Rent or mortgage payments
  • Utility payments
  • Funeral expenses
  • Home repairs
Tip: If you’re considering an emergency loan to get current on monthly housing expenses, it could be a good idea to see if your mortgage lender or landlord is willing to agree to an alternative payment plan so you don’t have to take on more debt.

For example, some mortgage lenders provide:

  • Forbearance options that will reduce your payments or temporarily postpone your payments
  • Loan modification that will permanently change your loan terms, such as reducing your payments or lowering your interest rate

How to compare emergency loan lenders

While personal loan lenders might look similar on the surface, it’s important to shop around and compare your options from as many lenders as possible — this way, you can find a loan that suits your needs.

Also be sure to consider how much a loan will actually cost you so you can be prepared for any added expenses. You can estimate how much you’ll pay for a loan using our personal loan calculator below.

Enter your loan information to calculate how much you could pay

? Enter the total amount borrowed $
? Enter your annual interest rate %
or
? Enter the amount of time you have to repay your loan years
Total Payment $
Total Interest $
Monthly Payment $

With a $ loan, you will pay $ monthly and a total of $ in interest over the life of your loan. You will pay a total of $ over the life of the loan.


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Learn More: How to Get a Fast Personal Loan for Quick Cash

Deciding which lender is right for you

Here are several important factors to keep in mind as you weigh your lender options:

  • Eligibility requirements: While these can vary by lender, some common requirements include having good credit, verifiable income, and a low debt-to-income ratio. If you don’t meet these criteria on your own, you might still be able to get approved with a lender that offers loans for bad credit or with the help of a cosigner.
  • Loan amounts: You can typically borrow $600 up to $100,000 (or more) with a personal loan. Be sure to borrow only what you need to keep your future repayment costs as low as possible.
  • Interest rates: Your interest rate will play a major role in determining your overall loan cost. The rate you’re offered depends on several factors, including your credit and the repayment term you choose. In general, the higher your credit score, the better your rate will be.
  • Repayment terms: Personal loan repayment terms usually range from one to seven years, depending on the lender. While picking a longer term can get you a lower monthly payment, it’s usually best to choose the shortest term you can afford to keep your interest costs as low as possible. Additionally, many lenders offer better rates to borrowers who opt for shorter terms.
  • Time to fund: If you’re approved, you can typically expect to get your personal loan funds within one week — though some lenders offer next- or same-day loans to approved borrowers. Generally, online lenders provide faster funding than banks or credit unions, which could be especially helpful when you need to cover an emergency expense.
  • Online services: Online lenders usually offer a faster, more streamlined approval and funding process compared to other lenders, which can make them a good choice for an emergency loan.

Check Out: How Long It Takes to Get Approved and Get a Personal Loan

How to apply for an emergency loan

While emergencies are tough situations, getting an emergency loan doesn’t have to be. Follow these four steps to apply for an emergency loan:

  1. Shop around and compare lenders. Be sure to compare as many lenders as you can to find the right loan for your situation. Consider not only interest rates but also repayment terms, any fees charged by the lender, and eligibility requirements.
  2. Pick your loan option. After comparing lenders, choose the loan option that best suits your needs.
  3. Fill out the application. Once you pick a lender, you’ll need to complete a full application and submit any required documentation, such as tax returns or pay stubs.
  4. Get your funds. If you’re approved, the lender will have you sign for the loan so the funds can be released to you — often through direct deposit. The time to fund for a personal loan is usually about one week — though some lenders will fund loans as soon as the same or next business day after approval.

If you’re ready to find your loan, remember to consider as many lenders as possible to find the right loan for you. Credible makes this easy — you can compare your prequalified rates from multiple lenders in just two minutes.

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Be careful with other types of emergency loans

If you’re facing an emergency, you might be tempted by other types of fast-access loans, such as:

  • Payday loans: These are unsecured, short-term loans designed to be paid back by the next payday. While payday loans typically don’t require a credit check, they can come with interest rates ranging from 300% to 500%.
  • Pawn shop loans: With this type of loan, you’ll leave a valuable item with a pawn shop in return for borrowing money. Like payday loans, pawn shop loans usually come with extremely high interest rates. If you pay the loan back as agreed, you’ll get your item back — but if you don’t, the pawn shop can sell it.
  • Car title loans: These loans put your car’s title on the line as collateral. If you don’t pay the loan back as agreed, you might lose your vehicle.
Borrower beware: Payday, pawn shop, and title loans should be an absolute last resort, as they can come with astronomically high-interest rates and potentially predatory lending practices.

Learn More: Small Personal Loans

Alternatives to emergency loans

If an emergency personal loan doesn’t seem right for you, here are a few alternatives to consider:

  • Credit union loans: Because credit unions are nonprofit organizations, you might be able to get a lower interest with a credit union compared to a bank. Keep in mind that while you might not have to be a member of the credit union to apply, you’ll need to join if you are approved and want to accept the loan.
  • 0% APR credit card: Some credit cards come with a 0% APR introductory period — which means you could avoid paying interest if you repay your balance before this period ends. However, if you can’t pay off your card in time, you could get stuck with some hefty interest charges.
  • Payment plan or hardship options: If you’re facing an emergency or hardship, your creditor might be willing to work out a payment plan. Some creditors also offer hardship options. Be sure to reach out to your creditor to see what options might be available to you.
  • Help from family or friends: Temporarily borrowing money from family or friends could help you navigate a financial challenge. This could also impact your relationships, though, so proceed with care.
  • Paycheck advance: If you have a steady job, your employer might be willing to offer a payroll advance in some circumstances.

Build an emergency fund

Having an emergency fund could help you avoid the need for an emergency loan in the future. Generally, emergency funds should contain enough money to cover three to six months’ worth of your expenses.

How to start an emergency fund

If you’d like to start an emergency fund, follow these three steps:

  1. Understand your expenses and budget. Run through your budget to see what you can afford to put toward savings each month. Also look for areas where you might be able to trim expenses to free up more cash for your savings.
  2. Open a high-yield savings account. With a high-yield savings account, you’ll enjoy a higher annual percentage yield than what you’d get with a regular savings account. This could help increase your savings more quickly.
  3. Make regular contributions to your emergency fund (even if they’re small). Get into the habit of setting aside a little for your savings each month —even if it’s as little as $5 or $10 per week. Setting up automatic transfers from your paycheck to your savings account could help make this even easier.

Keep Reading: How Personal Loans Impact Your Credit Score

Eric Rosenberg contributed to the reporting for this article.


About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 5.40%-35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 10%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.

About the author
Taylor Medine
Taylor Medine

Taylor Medine is a Credible authority on personal finance. Her work has been featured on Bankrate, Experian, The Balance, Business Insider, Credit Karma, and more. She’s also the author of The 60-Minute Money Plan, a self-published intro to budgeting guide for people who hate budgeting.

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