Best Emergency Loans for Poor Credit in July 2025

The best emergency personal loans for poor credit are from OneMain Financial due to low credit requirements, fast funding, secured loans, and the option to add a cosigner (if you apply via its website). Other top picks include Universal Credit and Upgrade.

The following lenders all have at least one of these traits: low or no credit score minimums, they allow cosigners, or they offer secured loans.

Compare personal loan rates for poor credit

Best emergency loans for poor credit

Before you start comparing quick loans for bad credit, check your credit score, how much you need to borrow, the monthly payment you can afford, and whether you have a willing cosigner to help you qualify. Use this information to narrow down which lenders are best for your situation.

Methodology

Credible evaluated 31 lenders across 899 data points to find the best personal loan lenders for emergency loans for poor credit. Criteria included funding time, minimum credit score requirements, customer experience, minimum fixed rate, maximum loan amount, loan terms, fees, discounts, whether cosigners are accepted, and availability of secured loans. 

Each data point was verified by a senior editor to make sure it was accurate and up to date. We used the following metrics and weightings to assign star ratings:

• Rates and fees: 18%
• Loan terms: 18%
• Customer experience: 17%
• Eligibility: 14%
• Customer satisfaction: 10%
• Efficiency: 10%
• Options for poor credit and no credit: 9%
• Discounts: 4%

Learn more about how Credible rates lenders by exploring our personal loans lender rating methodology.

How to compare emergency loans for poor credit

When analyzing your options for emergency loans, here are some of the most important factors to consider:

• Time to fund: This can vary widely depending on the type of loan and the lender. Some lenders will offer same-day funding, but others may take a few business days to get the money to you.
• Annual percentage rate: Annual percentage rate (APR) measures the annual cost of borrowing, combining both the interest rate and any upfront fees. APRs for poor credit tend to be high, so compare your loan options to find one that is competitive and that you can afford. 
• Fees: Many personal loan lenders charge origination fees that can range from 0% to 12% of the loan amount and are typically deducted upfront. With options like cash advances and payday loans, fees can make borrowing very expensive. Make sure you count these expenses when considering the total cost of borrowing.
• Loan amounts: If you have a low credit score or carry a lot of existing debt, it may be difficult to borrow the amount you want, and you may be offered a smaller amount instead. Compare lenders to see if one will lend you the amount you need.
• Repayment terms: The repayment term is how long it will take to pay the loan off. Some options, like payday loans, have very short repayment terms of just a couple of weeks, while personal loans and credit card cash advances can take months or years to repay. Generally speaking, the shorter the repayment term, the higher your monthly payment will be and the less interest you’ll pay (though this isn’t always the case, especially with payday loans and other extremely high-APR options).
• Secured loan availability: If you’re struggling to get approved for an unsecured personal loan, a secured personal loan could help you qualify. Only a few lenders offer them (such as Upgrade), and note that the collateral you use to secure the loan is at risk if you default.
• Cosigner or co-applicant option: If you can find a cosigner with a good credit score and positive financial history to help guarantee your loan, you may qualify for better rates. Finding a qualified co-applicant for a joint personal loan, where you share access to the loan and responsibility for repayment, could help in similar ways. However, not many lenders offer personal loans with cosigners or joint personal loans.

Check Out: How To Compare Personal Loans

What is an emergency loan for poor credit?

An emergency loan for poor credit is a type of loan that you can get quickly even with a low credit score. Emergency loans can include conventional types of borrowing, such as personal loans and credit card advances, as well as riskier and more expensive options such as payday loans, pawnshop loans, and car title loans.

Since a low credit score limits your options for borrowing, the types of loans that are available to you are likely to come with high interest rates and fees. Some types of loans might even be bad financial options, even though they don’t typically require a credit check. Carefully weigh your choices and try to avoid the more expensive and disreputable lenders for poor credit.

How do emergency loans for poor credit work?

There are a few options for loans for borrowers with low credit scores.

• Personal loans: A personal loan is a type of installment loan. You receive a lump sum of money upfront and repay it, plus interest, in agreed-upon amounts on a monthly schedule. These loans often have better rates than other options, but may be difficult to qualify for if you have a poor credit history.
• Credit card advances: Credit cards sometimes allow you to withdraw cash at a bank or ATM — this is called a cash advance. These withdrawals are often limited to a certain percentage of your total line of credit, generally have a higher interest rate than a normal credit card purchase and come with expensive fees.
• Employee cash advance: If your employer allows it, you can borrow small amounts from an upcoming paycheck. Although laws prohibit employers from profiting from a payroll advance, you could have to pay fees to help cover administrative costs. 
• Cash advance apps: Typically, cash advance apps don’t have an APR, but may instead charge subscription fees or fast funding fees, depending on the app. Some apps may encourage voluntary tipping.
• Payday loans: These are short-term loans for small amounts, usually due to be repaid in full on your next payday. They often come with extremely high interest rates and fees — 400% APR is a common rate. These loans have a bad reputation, and have been regulated or outright prohibited in many states.
• Pawnshop loans: Some pawnshops offer short-term loans secured by material assets, such as sporting goods, jewelry, or electronics. The size of the loan is based on the assessed value of the item used as collateral, which the pawnshop holds until the loan is repaid. If the borrower defaults, the pawnshop keeps the item. A combination of Interest, fees, and short repayment terms makes the typical pawnshop loan an expensive way to borrow money.
• Title loans: These loans are also high-cost, short-term loans, but instead of being tied to your paycheck, they’re tied to your car's title. If you don’t repay the loan in full when due, the lender may be able to repossess your car. This makes these loans a risky proposition.

Personal loan rates for poor credit

People with bad credit scores, generally defined as FICO scores below 580, typically pay higher personal loan APRs than people with better credit. Credible personal loan data indicate that prequalified APRs above 30% are common.

It’s important to remember that a prequalified rate is an estimate, not an offer of credit. Rates and terms of a loan offer may differ from prequalification results.

Personal loan rates by loan purpose

If you need an emergency loan for a specific purpose, what APR could you expect to pay with a FICO score below 580? The following table shows examples of average interest rates for potential emergency loans, based on Credible personal loan data:

Compare types of emergency loans for poor credit

Pros and cons of emergency loans for poor credit

Pros:

• Get the money you need fast: The biggest upside of getting a loan is that you can take care of your emergency needs.
• May help you build your credit: If you get a personal loan or a credit card cash advance and are able to make your payments in full and on time, that may help you boost your credit score. Your payment history on account types including credit cards and installment loans makes up 35% of your FICO score, the most commonly used credit scoring model.

Cons:

• Expensive: Loans that you can get quickly and loans for poor credit often come with high interest rates and fees. You’ll pay a lot to borrow money, even if it’s a relatively small amount and for a short time.
• Can trap you in a cycle of high-cost debt: Some emergency loans that cater to borrowers with bad credit have a history of pushing borrowers into high-cost rollovers. Payday loans have a bad reputation for this, with many borrowers paying high fees and interest rates to roll over their loan month to month rather than paying it off.

Eligibility criteria for emergency loans for poor credit

While each lender and type of loan will have different standards for borrowers, here are some of the basic criteria to expect:

• Age requirement: State laws determine at what age you’re eligible to borrow, but most states and lenders say you have to be 18 years old to enter into a legal contract.
• Employment status: Most lenders will require that you have a job and present proof of employment.
• Monthly income: This may seem like the same thing as employment status, but it can include annuities, pensions, other retirement income, and public assistance such as Social Security Disability Insurance.
• Existing debt obligations: You may hear the phrase “debt-to-income ratio” also known as DTI, when you’re talking to a lender — this is how much of your pretax monthly income goes to debt payments each month. DTI is used to determine if you can reasonably borrow and repay more money.
• Credit score: Your credit score is a number assigned to you based on your financial history. FICO uses your payment history, the length of your credit history, the mix of credit that you carry, how much debt you carry, and new credit inquiries to determine your score.

Check Out: What Are the Requirements for a Personal Loan?

Disclosure: Some lending partners that participate in Credible’s comparison marketplace offer loans to borrowers with scores as low as 550. Borrowers with low scores will have fewer lending options than borrowers with higher credit scores.