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When life throws unexpected financial challenges your way, whether it’s a medical emergency, car repairs, or unforeseen job loss, it can feel overwhelming, especially if you have inadequate credit. However, rest assured, options are available to secure the emergency loans you need to navigate these challenging times.
We’ll explore our top picks of the best emergency loans for those with less-than-perfect credit ratings. With a range of lenders and loan types in mind (ranging from 5 to 12 carefully selected options), you’ll discover helpful facts about interest rates, repayment terms, and eligibility requirements. By the end of your reading, you’ll be better equipped to make an informed decision that suits both your immediate needs and long-term financial health.
- Upstart
- CashUSA
- Avant
- Personal loans from OneMain Financial
- BadCreditLoans.com
- Peer-to-Peer Lending Platforms (like Prosper)
- OppLoans
- Credit Union Personal Loans
- Upgrade
- LendYou
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Frequently Asked Questions
- What are the chances of getting a $20,000 loan with a credit score in the 560s?
- Since I own equity in a house (but am not on the mortgage), can I use that to secure a loan?
- What types of loans might be available to someone with bad credit who needs a significant amount of money?
- I’m not really concerned about the Annual Percentage Rate (APR); I just need the loan. Is this a reasonable approach?
- What are the risks associated with taking out a secured loan, such as using a car as collateral, when you have bad credit?
- Are there any alternative ways to obtain funds besides traditional loans for someone with bad credit?
- What should someone with bad credit absolutely avoid when looking for a loan?
- What steps can someone with bad credit take to potentially improve their chances of getting a loan or better financial outcomes in the future?
- Recommended Reads
Upstart
With a focus on personal loans for those with less-than-perfect credit, Upstart uses alternative data to assess your financial health, making it easier for borrowers to get approval.
Upstart stands out in the world of personal loans by prioritizing borrowers with less-than-perfect credit scores. This innovative lender utilizes alternative data—such as education, employment history, and even geographic location—to evaluate your overall financial health. This approach enables Upstart to evaluate applications more comprehensively, potentially enabling individuals who would typically struggle to secure a loan due to their low credit scores to find success.
When considering a loan from Upstart, you can expect:
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Flexible Loan Amounts: Borrowers can request anywhere from $1,000 to $50,000 depending on their needs.
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Quick Approval Process: Many applicants receive decisions within minutes and can access funds as soon as the next business day.
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No Prepayment Penalty: If you’re able to pay off your loan early, there’s no additional fee involved.
This makes Upstart an appealing option for those facing emergencies but worried about their credit status hindering their borrowing capabilities.
CashUSA
This platform connects borrowers with lenders willing to offer emergency loans even if you have bad credit. The application process is straightforward and typically results in quick funding.
CashUSA is a reliable platform for individuals facing financial emergencies, especially those with challenging credit histories. This service connects borrowers to a network of lenders who specialize in offering emergency loans tailored for bad credit situations. One of the key benefits of CashUSA is its accessibility; applicants can navigate the application process easily from the comfort of their own home.
The platform emphasizes speed and efficiency, meaning that once your application is submitted, you could receive funds in as little as one business day. Here’s what sets CashUSA apart:
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User-Friendly Application: Simple forms allow you to apply quickly without extensive paperwork.
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Wide Network of Lenders: Increased chances of approval due to multiple lending options available at your fingertips.
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No Upfront Fees: You won’t be asked to pay fees just to submit an application or access services.
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Your Data Is Secure: The platform prioritizes personal data protection, ensuring confidentiality throughout the loan process.
Avant
Known for its flexible repayment options, Avant offers personal loans specifically designed for individuals dealing with lower credit scores, aiming to help them through urgent financial needs.
Avant stands out in the lending landscape by offering personal loans tailored for those with lower credit scores, making it a popular choice for individuals facing urgent financial challenges. With its user-friendly platform and quick application process, Avant provides borrowers a sense of relief when unexpected expenses arise. Here are some key features that make Avant an attractive option:
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Flexible Repayment Terms: Borrowers can choose repayment periods ranging from 24 to 60 months, allowing for manageable payment schedules.
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No Prepayment Penalties: If you find yourself in a better financial situation, you can pay off your loan early without incurring additional fees.
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Quick Funding: Once approved, funds can be disbursed as quickly as the next business day, which is crucial for emergency situations.
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User-Friendly Experience: The online application process is straightforward and designed to cater to those who may not have extensive experience with borrowing.
This approach not only helps those with lower credit scores secure necessary funding but also aims to improve their overall financial health over time. Avant represents a reliable avenue for anyone navigating through unexpected emergencies while rebuilding their credit profile.
Personal loans from OneMain Financial
If you’re looking for personalized service alongside your loan, OneMain Financial provides direct lending options that cater specifically to those struggling with bad credit.
For those facing financial challenges and in need of reliable funding, OneMain Financial stands out as a strong option. They specialize in offering personal loans with flexible terms tailored to individuals, especially those dealing with bad credit. With an emphasis on personalized customer service, OneMain ensures that borrowers receive support throughout the loan process.
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Direct Lending Experience: You’ll work directly with a local branch representative who can guide you through your options.
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No Minimum Credit Score Requirement: Even if your credit isn’t perfect, you might still qualify for a loan.
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Fast Approval Process: Many applicants receive same-day approval so they can access funds quickly when emergencies arise.
The company’s commitment to helping clients improve their financial situation sets it apart from other lenders. Borrowers are encouraged to ask questions and understand their loan terms clearly before proceeding, ensuring peace of mind during this critical time.
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BadCreditLoans.com
As the name suggests, this site specializes in helping individuals find lending opportunities despite their poor credit history; plus, they provide educational resources on managing finances better.
BadCreditLoans.com is an excellent resource for anyone struggling with poor credit who needs access to emergency funds. As its name implies, the platform caters specifically to individuals facing challenges in obtaining conventional loans due to their credit history. This site connects users with a network of lenders willing to work with those who have less-than-perfect credit scores, making it easier than ever to secure financial assistance when it’s most needed.
Along with facilitating loan connections, BadCreditLoans.com goes above and beyond by offering valuable educational resources aimed at enhancing financial literacy. Users can benefit from tools and articles that cover topics such as:
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Budgeting: Tips for managing expenses effectively.
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Improving Credit Scores: Strategies on how to boost your credit rating over time.
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Avoiding Debt Traps: Guidance on recognizing warning signs and staying financially healthy.
This comprehensive approach not only helps individuals find immediate funding solutions but also equips them with the knowledge necessary for long-term financial well-being.
Peer-to-Peer Lending Platforms (like Prosper)
These innovative platforms allow you to borrow money directly from individual investors rather than traditional banks; many are open to working with applicants who have low credit scores.
Peer-to-peer lending platforms have revolutionized the borrowing landscape by connecting borrowers directly with individual investors. This model can be particularly beneficial for those facing challenging financial situations or dealing with poor credit scores, as many of these platforms are more flexible in their qualifications compared to traditional banks. Here’s why considering peer-to-peer lending could be a viable option:
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Access to Diverse Funding Sources: Unlike conventional banks that rely on strict underwriting standards, P2P lenders tap into a broad network of people willing to fund loans, which increases your chances of approval even if you have a low credit score.
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User-Friendly Platforms: Many P2P sites offer intuitive interfaces and streamlined application processes, making it simple to apply for funds from the comfort of your home.
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Competitive Interest Rates: Direct competition among investors on these platforms often leads to lower interest rates than you’d find at traditional financial institutions.
If you’re in urgent need of funds but hesitant due to your credit history, exploring peer-to-peer lending options like Prosper can provide an alternative route toward securing emergency cash without the restraints typically imposed by banks.
OppLoans
Offering fast cash advances without requiring a good credit score upfront, OppLoans aims to provide an affordable way out of emergencies while reporting payment progress back to major bureaus.
OppLoans provides a lifeline for those facing unexpected expenses without the hassle of stringent credit requirements. Here are some key features that make OppLoans a notable option:
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No Good Credit Score Required: Unlike traditional lenders, OppLoans evaluates applicants based on their overall financial situation rather than solely focusing on credit scores.
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Quick Access to Funds: With a straightforward application process and fast approval times, borrowers can typically receive cash within one business day.
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Bureau Reporting: Responsible borrowers can enhance their credit ratings over time by reporting their regular payment history to major credit bureaus.
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Affordable Repayment Terms: While interest rates may be higher than conventional loans, OppLoans offers manageable payments that help users avoid falling into deeper debt.
Credit Union Personal Loans
Many local and community-based credit unions provide small loans tailored for members; these can be more forgiving about past financial mishaps compared to larger banking institutions.
Many local and community-based credit unions offer personal loans designed specifically for their members, making them an appealing option for those with less-than-perfect credit. These institutions often prioritize building relationships over stringent qualification criteria, which means they can be more forgiving about past financial mishaps than larger banking institutions. Here are some key advantages of choosing a credit union personal loan:
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Lower Interest Rates: Credit unions typically offer competitive rates compared to traditional banks, helping you save money in the long run.
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Flexible Terms: They may provide tailored repayment plans that suit your financial situation better than one-size-fits-all options.
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No Prepayment Penalties: Many credit unions allow you to pay off your loan early without incurring additional fees, giving you more control over your finances.
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Community Focus: By borrowing from a local institution, you’re supporting community initiatives and possibly gaining access to helpful resources geared toward improving your financial health.
If you’ve experienced difficulties with larger lenders due to past mistakes or bad credit ratings, joining a local credit union might lead not only to immediate funding but also long-term benefits toward rebuilding your financial stability.
Upgrade
A unique blend of a personal loan and a line of credit option might suit borrowers needing flexibility during emergencies—Upgrade allows you access upfront while supporting stronger financial profiles afterward!
If you’re facing an unexpected financial hurdle, Upgrade might be the solution you’re looking for. This innovative platform combines the features of a personal loan with the flexibility of a line of credit, which can be especially beneficial for those with bad credit seeking to address urgent expenses.
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Immediate Access: Borrowers can access funds quickly when emergencies arise—whether it’s medical bills, car repairs, or other urgent needs.
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Rebuild Credit: As part of your repayment journey, making consistent and timely payments on your Upgrade financing can definitely help improve your overall financial profile.
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No Hidden Fees: Upgrade is clear about its terms and conditions, ensuring you know exactly what you’ll owe without unexpected surprises.
This dual approach helps in crisis situations and empowers borrowers to work toward better creditworthiness over time. For those needing immediate assistance while planning for future stability, this option could offer just the right balance between urgency and long-term savvy.
LendYou
By streamlining the lending process while catering especially toward people labeled ‘bad-credit,’ they connect potential borrowers swiftly with multiple licensed lenders offering various terms depending on need and situation complexities involved!
If you’re facing financial challenges and have a less-than-stellar credit history, LendYou could be the solution you need. This platform simplifies the typically convoluted lending process, making it accessible for individuals categorized as having ‘bad credit.’ By leveraging advanced technology, LendYou efficiently connects potential borrowers with multiple licensed lenders who specialize in catering to unique financial situations.
The meaningful advantages of using LendYou include:
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Quick Access: Get matched with lenders almost instantly, reducing waiting times often associated with traditional loans.
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Diverse Options: Different lenders provide various terms based on your specific needs and the complexities of your situation.
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No Upfront Fees: Unlike some other services, LendYou does not charge upfront fees for its matching service.
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Catering to All Needs: Whether it’s medical emergencies or urgent repairs, you’ll find options that can meet your requirements without hidden costs.
This streamlined approach ensures that even those dealing with challenging circumstances can find feasible loan solutions tailored uniquely to their financial scenarios. You’ll benefit from a clear understanding of repayment terms while maintaining control over your borrowing decisions.
Frequently Asked Questions
What are the chances of getting a $20,000 loan with a credit score in the 560s?
The chances of obtaining a $20,000 loan with a credit score in the 560s from traditional lenders are very low. Such a credit score indicates a high risk for lenders. Unsecured loans for this amount are highly unlikely to be approved without a significantly better credit score.
Since I own equity in a house (but am not on the mortgage), can I use that to secure a loan?
Having equity in a house is valuable, but not being on the mortgage complicates your ability to directly leverage it for a loan. Typically, lenders want everyone with the title to also be on the loan. Furthermore, if the house is currently part of a bankruptcy, any existing equity is likely not accessible for securing a new loan. Some options might exist, such as a Home Equity Loan or refinancing the current mortgage, but these usually require good credit and being on the mortgage. Adding a co-signer with excellent credit could potentially help.
What types of loans might be available to someone with bad credit who needs a significant amount of money?
Individuals with bad credit seeking large loans may need to consider secured loans, where they offer an asset as collateral. A common example discussed is using a vehicle’s value to secure an auto loan. However, defaulting on such loans can lead to repossession of the collateral. Another possibility mentioned is finding a co-signer with excellent credit who is willing to share the responsibility of the loan. Employer credit unions are also suggested, as they may offer more favorable terms than traditional lenders.
I’m not really concerned about the Annual Percentage Rate (APR); I just need the loan. Is this a reasonable approach?
We strongly advise you to pay attention to the APR. The APR determines the total cost of the loan, including interest and fees, and significantly impacts the monthly payments. Ignoring a high APR can lead to a situation where the loan becomes unaffordable, resulting in default, financial hardship, and further damage to your credit score. In some scenarios, the total interest paid over the life of a high-APR loan can be many times the original loan amount.
What are the risks associated with taking out a secured loan, such as using a car as collateral, when you have bad credit?
The primary risk of a secured loan is the potential loss of the collateral if you default on the loan payments. In the case of a car title loan, the lender holds the title, and failure to make payments can lead to repossession and sale of the vehicle. While using household items as collateral might not always result in immediate repossession, it could lead to legal action and lawsuits in case of default.
Are there any alternative ways to obtain funds besides traditional loans for someone with bad credit?
There were several suggested alternatives. One is to explore borrowing from a 401(k), although this strategy comes with its own risks, including potential tax implications and fees if you default. One option that is less risky is to ask family members for financial assistance. Delaying the loan and focusing on improving your credit score could open up better loan options with lower APRs in the future.
What should someone with bad credit absolutely avoid when looking for a loan?
It is crucial to avoid predatory lenders, such as payday loans and auto title loans. These types of loans often come with extremely high interest rates and fees that can trap borrowers in a cycle of debt.
What steps can someone with bad credit take to potentially improve their chances of getting a loan or better financial outcomes in the future?
The advice provided emphasizes the importance of improving your credit score over time. Addressing any negative items on your credit report and practicing responsible credit behavior can achieve this. Checking with your employer’s credit union is a recommended first step. If a loan is necessary immediately, exploring secured loans or finding a co-signer with good credit might be options, but these should be approached with caution and a full understanding of the terms, especially the APR.

Reviewed and edited by Albert Fang.
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Article Title: Best Emergency Loans for Bad Credit
https://fangwallet.com/2025/08/04/best-emergency-loans-for-bad-credit/
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