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Perhaps you've lost your job unexpectedly or are suddenly facing a big medical expense not paid for by insurance. An emergency loan can help you get you back on your feet and cover a cost you hadn't planned for in your budget.
Best Personal Loans for Emergencies
- Upgrade Personal Loan: Best overall
- Avant Personal Loan: Best for fast funding
- Upstart Personal Loan: Best for poor credit but strong work/education history
- LendingPoint Personal Loan: Best for no prepayment penalty
- Best Egg Personal Loan: Best for high credit scores
- OneMain Financial Personal Loan: Best for lower credit scores
- Prosper Personal Loan: Best if you need a cosigner
- Oportun Personal Loan: Best for small loan amounts
Next Step: See if you're prequalified for a loan without impacting your credit score.
The best personal loans for emergencies have lower credit score requirements and faster funding times, as those are commonly among the most important factors for borrowers who need money fast.
Here are the top options to consider if you need emergency cash.
Compare the Best Emergency Personal Loans
Emergency Personal Loan Frequently Asked Questions
Generally, emergency loans are personal loans you can use for unexpected expenses. Say you lost your job or are facing a costly medical bill. If you don't have an emergency fund saved up, you can use these loans to get emergency cash to cover the cost of your expense and provide yourself breathing room.
Emergency loans work just like any other personal loan — you'll fill out a short application with your personal details, including your income and Social Security number. Then, the lender you apply with will offer you loan terms. You'll want to pick a lender who will get you your money within one to two business days (same-day funding is a plus). You can find emergency loans online without having to visit a lender in person.
Unfortunately, it may be difficult to get an emergency loan without a job, as income is one of the most important factors in verifying your ability to repay a loan.
Start by getting rate quotes and terms from various lenders, and then weigh your options to see what is best for you. For instance, you may get a lower loan rate with one company than another, but that company will charge you higher fees. Take into account rates, fees, term lengths, and loan amount range when deciding on a company.
To get a loan with bad credit, you'll need to focus on specific lenders. Most of the lenders on our guide will work with borrowers who have bad credit. Just beware that while you may qualify for an emergency loan with bad credit, you'll likely pay a higher rate.
Adding a cosigner with good credit to your loan may also improve your chances of qualifying for emergency loans for bad credit. Not all lenders allow cosigners, but some do.
You can generally get anywhere between $1,000 and $100,000 with an emergency loan, though some lenders offer loans for as little as $300 and as much as $500,000.
Best Emergency Personal Loan Company Reviews
Upgrade Personal Loan
Upgrade offer emergency loan amounts of as little as $1,000, which is lower than many competitors. This is a good choice for borrowers in need of just a little bit of cash to tide them over. You can also qualify for a loan with a credit score as low as 580.
Similar to many of the other lenders in this guide, you can get your money within one day of the company reviewing and approving your loan.
Watch out for: Sizable origination fees. Low credit requirements and fast funding times come with a drawback as well. Your origination fee with Upgrade will be between 1.85% and 9.99%. Some other lenders don't charge these fees.
Avant Personal Loan
Avant has a fast funding speed, which is ideal for an emergency where you need your money quickly. If your loan is approved by 4:30 p.m. CT Monday through Friday, funds are generally deposited by the next business day.
You don't need an excellent credit score to qualify for an emergency personal loan from Avant. The company's minimum credit score is 600. Keep in mind that you'll likely pay a higher rate with a lower score.
Watch out for: Many types of fees. Avant will charge an administration fee of up to 4.75%, which it will take from your loan proceeds. If you miss a scheduled payment, you may incur a late fee, which will vary by state. If a scheduled payment is returned unpaid, dishonored payment fees may apply.
Upstart Personal Loan
Upstart's low minimum loan amount of $1,000 is perfect for a small emergency expense. Other lenders may have a higher minimum that forces you to borrow more than you actually need. The company also has fast funding times. You may be able to get your loan on the day after you apply with Upstart.
Additionally, the company has a low minimum credit score requirement of 600. Borrowers with poor credit may find it easier to qualify for a loan with Upstart than with other lenders on our list.
Watch out for: High origination fee. Upstart will charge you an origination fee of up to 8%, which will be deducted from your overall emergency loan proceeds. This will increase the total cost of your loan.
LendingPoint Personal Loan
LendingPoint won't hit you with a prepayment penalty if you pay off your loan early. You can save on the overall cost of your loan by getting ahead on your payments.
The company will get you your money within one to two business days after you apply.
Watch out for: Significant origination fees. LendingPoint may charge you an up to 8%, depending on the state you live in.
LendingPoint Personal Loan Review
Best Egg Personal Loan
Like most of the lenders in our guide, Best Egg funds its emergency loans quickly. Around half of Best Egg customers will receive their money the day after applying for the loan.
There is no prepayment penalty on Best Egg loans, meaning you can pay your loan off early without any fees.
Watch out for: Higher minimum credit score. Best Egg's minimum credit score of 640 is still fairly low, but it is higher than many other lenders on our list. If your credit isn't in great shape, you might find it easier to qualify with a different lender.
OneMain Financial Personal Loan
OneMain Financial is a great option for emergency loans for bad credit, since the lender has no minimum credit score required for approval. Borrowers with bad credit may be more likely to qualify for a loan with this company than another.
You'll also get your loan funds quickly. It's possible you could even get your emergency loan on the same day you apply.
Watch out for: Hefty origination fees. You'll pay an origination fee on OneMain's loans, which can either be a flat fee or percentage-based, depending on what state you live in. Flat fees range from $25 to $500, while percentage-based fees range from 1% to 10% of the loan's value.
OneMain Financial Personal Loan Review
Prosper Personal Loan
Prosper approves most loans within one day and, depending on your bank, it may take one to three business days to receive funds in your account. You'll need a credit score of at least 560 to qualify for a Prosper personal loan.
You're able to enlist a cosigner to qualify for a loan you otherwise would not have or to get a lower rate.
Watch out for: Qualification requirements. You may have trouble meeting all of Prosper's qualifications for a personal loan, particularly if your finances aren't in great shape. These include a debt-to-income ratio below 50%, and fewer than nine credit bureau inquiries (excluding duplicate inquiries) within the last six months.
Oportun Personal Loan
Oportun's loan minimum of $300 is the lowest of any of the lenders in our guide and may be a good choice if you need to cover a minor expense. However, its loan maximum is only $10,000, so borrowers in need of a sizable chunk of change will need to choose a different lender.
Oportun may also be a good choice for emergency loans for bad credit, as a prior credit history is not needed to qualify. That could also make an Oportun loan a good option for borrowers looking to establish a credit profile.
Watch out for: Limited availability nationwide. You'll only be able to get a loan if you live in AL, AK, AR, AZ, CA, DE, FL, ID, IL, IN, KS, KY, LA, MI, MO, MN, MS, MT, NC, ND, NE, NH, NJ, NM, OK, OR, PA, RI, SC, SD, TN, TX, UT, , VA, VT, WA, or WI.
Other Personal Loan Lenders We Considered
- SoFi Personal Loan. SoFi is an excellent option for borrowers with a great credit score, as it offers lower minimum rates than most of the lenders on our list. However, its minimum credit score of 680 may put it out of the reach of a decent chunk of borrowers.
- LightStream Personal Loan. Similar to SoFi, LightStream also has excellent rates at the bottom end of its APR range – but those will be hard to qualify for without excellent credit. Additionally, LightStream's loan minimum is $5,000, so if you need a small amount of cash it isn't a good choice.
- Wells Fargo Personal Loan. The brick-and-mortar bank boasts excellent minimum rates and a wide network of in-person support. However, Wells Fargo has a shaky ethical history and charges a hefty late fee of $39 if you fall behind on payments.
- Navy Federal Credit Union Personal Loan. The military-focused credit union has loans of as little as $250, but you'll need to be a member to get a loan. Membership requirements are relatively strict too — you're only eligible if you are active military member, veteran, employee or retiree of the Department of Defense, or family member of someone in one of those groups.
See our picks for the best debt consolidation loans »
Emergency Loan Lender Trustworthiness
Whether you're looking for a $2,000 loan or a $5,000 loan for your emergency needs, finding a trustworthy lender can help improve your loan experience. We've compared each institution's Better Business Bureau score to give you another piece of information to choose your lender. The BBB measures businesses based on factors like their responsiveness to customer complaints, honesty in advertising, and transparency about business practices. Here is each company's score:
| Lender | BBB Grade |
| Upstart Personal Loan | A+ |
| Avant Personal Loan | A |
| Best Egg Personal Loan | A+ |
| Prosper Personal Loan | A+ |
| OneMain Financial Personal Loan | A+ |
| Upgrade Personal Loan | A+ |
| Oportun Personal Loan | A+ |
| LendingPoint Personal Loan | A |
Our top picks are rated A or higher by the BBB. Know that a high BBB score does not ensure a positive relationship with a lender, and you should keep researching and talk to others who have used the company to get the most complete information possible.
How To Get an Emergency Loan
There are several factors that go into qualifying for an emergency loan, including your credit score, income, and credit history.
Generally, you'll need credit score in the low to mid-600s to get a loan, although some lenders (including many in this guide) will accept borrowers with lower scores. However, when you have a lower credit score you'll usually pay a higher interest rate.
In addition to a solid credit score, you'll need proof of your employment and ability to repay to determine eligibility. Lenders will check your debt-to-income ratio to ensure you haven't borrowed more than you can feasibly pay back.
Why You Should Trust Us: Our Methodology
We rate all personal loan products in our reviews and guides on a 1-5 scale. The overall rating is a weighted average that takes into account seven different categories, some of which are judged more heavily than others. They are:
- Interest rate (20% of rating)
- Fees (20% of rating)
- Term lengths and loan amounts (15% of rating)
- Funding speed (15% of rating)
- Borrower accessibility (15% of rating)
- Customer support (7.5% of rating)
- Ethics (7.5% of rating)
Each category's weighting is based on its importance to your borrowing experience. Rates and fees have the most direct impact on the overall cost of your loan, so we weigh those the most heavily. Customer support and ethics are still very important parts of the borrowing experience, but do not directly tie to a personal loan's terms, so they have less of an impact on the overall rating.
See our broader ratings methodology for personal loans »
OneMain Financial Personal Loan disclosure: Not all applicants will be approved. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral) and your state of residence. If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. APRs are generally higher on loans not secured by a vehicle. Highly-qualified applicants may be offered higher loan amounts and/or lower APRs than those shown above. OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Visit omf.com/loanfees for more information. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB's Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: $3,100. North Dakota: $2,000. Ohio: $2,000. Virginia: $2,600. Borrowers in these states are subject to these maximum loan sizes: North Carolina: $9,000 for unsecured loans to all customers, $9,000 for secured loans to present customers. Maine: $7,000. Mississippi: $15,000. West Virginia: $14,000. Loans to purchase a motor vehicle or powersports equipment from select Maine, Mississippi, and North Carolina dealerships are not subject to these maximum loan sizes. Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07. Time to Fund Loans: Funding within one hour after closing through SpeedFunds must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after loan closing.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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