Emergency Loans for Bad Credit

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Funding up to $100,000 and APRs as low as 3.99%*

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Best Emergency Loans for Bad Credit

Emergencies happen, regardless of your credit score. If you need an emergency loan for bad credit, there may be lenders that can help. As a bad credit borrower you may be subject to higher interest rates and fees. Check offers to see what emergency loans you qualify for.

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How To Apply For Emergency Loans for Bad Credit

1 Pre-qualify

Fill out easy online form to check for pre-qualified offers with no impact to your credit score

2 Select offer

Compare terms and payment options to select offer that’s best for you

3 Finish application

Complete application process on your selected lender’s website*

4 Receive funding

After loan approval, your funds should arrive within 1-2 business days*


“The process couldn’t have been any easier. I filled out a short form that took me less than 2 minutes and within seconds I got multiple offers from lenders.”


- Mike T. (TN)

“It was important to me that I could review my offers without any impact to my credit score, before deciding on the best loan option.”


- Carol R (FL)

“I like the easy online and 100% paperless experience of Acorn Finance. I received my money two days after completing my application.”


- Bob S (WI)

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Learn More About Emergency Loans for Bad Credit

Unexpected expenses sometimes come up, and people can’t always manage them. You can plan for recurring expenses like back-to-school shopping or furnace maintenance, but things can happen out of the blue and leave us stuck. For example, your car might suddenly break down, or your fridge or stove might stop working. These can be big expenses that many people don’t have the cash on hand to cover. So where can you find the best emergency loans for bad credit? Can you get an emergency student loan for bad credit? Keep reading to find out.

Read more - FAQ

What is an emergency loan?

An emergency loan is usually a short-term, high-interest rate loan. The time to repay it can be a couple of weeks to several months for smaller amounts. Some emergencies are much more expensive, like a new roof, so these would have a longer amortization.

Emergency loans can come in a variety of forms. For smaller amounts, some people use a payday loan. A payday loan is an advance on your next paycheck. These rates are incredibly high (up to 400% per year), and they usually need to be repaid with your next paycheck. It’s best to avoid these loans altogether if possible since they are expensive, the lender requires access to your bank account, and these loans can put the borrower into a cycle of debt.

Some lenders offer title loans that take the title to your car as collateral. The rates can be lower since they have collateral. However, these loans can be extremely risky because the lender can take the car if the borrower does not make their payments. Losing their car would be a disaster for many people, so finding a way to borrow without putting your vehicle at risk would be a much better option.

Credit unions can fund payday alternative loans for their members. These loans are small amounts, and the rate is capped at 28%. Credit unions and some banks offer small dollar amount loans. These are excellent places to check if you need a loan of $1000 or less.

Some credit cards have the option of accessing the limit as a cash advance. Rates for cash advances are often higher than rates for purchases. Borrowers pay interest immediately when they take a cash advance off of their credit card. There is no interest-free period as there often is with purchases. Your payments will be added to your credit card statement.

An unsecured personal loan can be an excellent way to get emergency funds. You can access higher amounts that you can amortize over a more extended period. Having more time to pay off the loan can make the payments more manageable.

Where can I borrow money ASAP with bad credit?

Borrowing money fast usually depends on how much you need and your credit rating. It can also depend on the lender. One lender that offers potential same day funding is RocketLoans. Their minimum credit score requirement is 580. The loan amounts range from $2,000-$45,000 with rates between 5.97%-29.99%. In addition, they offer 30 or 60-month amortizations. If you need to borrow money ASAP, you should start by checking offers at Acorn Finance. Within 60 seconds or less you can check offers from top national lenders with no impact on your credit score.

How can I get an emergency personal loan with bad credit?

Some lenders fund emergency loans for bad credit, and you can look at alternatives if you need a small amount. For example, if a lender doesn’t approve an unsecured loan, you might be able to secure the loan with an asset. Another option is to add a cosigner to the loan. Finally, if you are a member of a credit union, you can try applying with them. Credit unions are sometimes more flexible with their lending criteria.

Depending on the amount you need, you can try a charity, non-profit or religious organization. If you need the money to pay a service provider like a doctor or home repair service, you can ask if they will allow you to pay the amount you owe in an installment plan. Depending on how bad your credit score is, you may be able to qualify for a personal loan.

What is an emergency hardship loan?
Technically, hardship loans do not have their own category. However, if you are experiencing hardship you may be able to use a personal loan to cover emergency hardship expenses.

Credit unions and some banks offer Coronavirus Hardship Loans to help people who the pandemic has impacted and have emergency expenses they need to pay. They usually have a maximum amount of $5000, and some offer the option to defer your payment for a few months. The rates are generally as low as or lower than traditional personal loans. The application process includes verifying the borrower’s income, and the borrower needs to provide proof of hardship. The amount a borrower can qualify for depends on their credit history and credit score.

How do I get emergency money?

Where you can get emergency money depends on how much you need. You can apply for a loan with a lender, take a cash advance from a credit card, ask your employer for an advance on your pay, or try a peer-to-peer lending site. There are other ways too that we have mentioned, such as payday loans and title loans, but it is best to avoid these due to the risks and costs.

How can I get cash with bad credit ASAP?

If you need cash ASAP with bad credit, you may want to try to apply for a personal loan. If you do not qualify for a loan, cash advance with a credit card, or alternative emergency loan, you may want to ask a friend or family member for a loan.

Which bank gives loans easily for bad credit?

A lot of banks and lenders don’t fund loans for borrowers with bad credit, but there are some lenders that can.
Try looking at OneMain, Upstart, LendingPoint, or Avant. These are some lenders that can work with borrowers who have low credit scores, so you might find an emergency personal loan with bad credit here.

How can I get a $3000 loan with bad credit?

The first step is to check your credit score. Once you know your credit score, you can look for lenders who work with borrowers with the type of credit score you have. For example, some lenders don’t consider borrowers with a score of less than 630. Other lenders will work with borrowers who have a minimum credit score of 550. Some lenders don’t have a minimum credit score requirement, so those are worth checking too. If you have a bad credit score, you can expect the rate to be high, and you will probably have origination fees in addition to a high rate. If you have a FICO score 600 or above, you should check offers at Acorn Finance.

Can you get an emergency loan with a 500 credit score?

You may qualify for an emergency loan with a 500 credit score. However, it may be challenging to find a lender willing to extend a loan. Applying with a cosigner or providing collateral are two ways that you can increase your chance of approval.

How can I get an emergency loan with no job?

If you don’t have a job, there are still ways to get an emergency loan. Most lenders want to see some type of income, and things like unemployment insurance, social security, disability, and alimony can qualify. If you have a good credit rating, you may be eligible based on your credit score and not be required to show proof of income. You can try adding a cosigner to the loan. If you have collateral to secure the loan, you may qualify if you don’t have a job. Homeowners can apply for a home equity line of credit that uses the home’s equity as security. Borrowers who don’t have a job can apply for a Coronavirus Hardship Loan and may qualify if they meet the requirements.

Closing Thoughts

Needing emergency funds can be stressful, and having bad credit or no job can make it more difficult. However, there are ways to get emergency loans for bad credit or if you are unemployed. If you have some time to spare you should try to improve your credit score before applying for a loan.


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