When your car breaks down or your furnace quits, it can put you in a tough spot and make you wonder where to turn for an emergency loan. Fortunately, personal loans, payday loans and cash advance apps are some of your best sources in an emergency.
Personal loans are ideal for larger expenses, while payday loans and cash advance apps offer smaller amounts — usually between $20 and $1,500. However, payday loans can be quite expensive, while cash advance apps are typically low-cost or even free.
Here, we break down the ten best personal and payday loans to help you decide which is best for your situation.
Compare emergency personal loans
Get your money as soon as the same day or the next business day with these quick personal loans.
Payday loans, installment loans and auto title loans come with high rates and fees, which can trap you in a cycle of debt. The majority of short-term loan borrowers renew their loans at least once, piling on fees that make it even more difficult to repay.
Consider alternatives before opting for a payday, installment or title loan:
Local resources. Government agencies, nonprofits and local charities often offer free financial services and help with food, utilities and rent for those in need.
Payment extensions. Talk with your bill providers about a longer payment plan or extension on your due date if you’re behind on payments.
Credit cards. Credit cards typically charge lower interest rates than short-term loans, even on cash advances, making them a flexible, less costly alternative for up to the $500 you can typically take out with a payday loan.
How do borrowing costs vary by state?
The costs for payday and installment loans vary by state due to differences in state regulations. States with fewer consumer protections tend to have higher costs for payday and installment loans, sometimes exceeding 600% APR or more. Lenders in states like Delaware, Missouri, Texas and Wisconsin tend to have some of the highest borrowing costs.
Learn more about emergency personal loans
Here’s a closer look at our top picks for lenders offering emergency personal loans, who they’re best for and how fast you can get funds.
Best Egg
Best Egg is a solid choice for fair to excellent credit borrowers. It offers fast funding, fixed APRs up to 35.99% and loans amounts up to $50,000. You won’t have to worry about prepayment penalties and borrowers may qualify for secured loan options to bring down rates. Plus, its straightforward online application makes it easy to find out if you qualify.
How fast can you get it? After approval, funds can be deposited into your bank account in as little as 24 hours.
Loan details
Interest rate: 7.99% to 35.99%
Loan amount: Up to $50,000
Loan term: 36 months to 60 months
Minimum income: Not stated
Incomes it accepts: Employment and other sources of income
Minimum credit score: Not stated
States served: Best Egg products are not available if you live in Iowa, Vermont, West Virginia, the District of Columbia, or U.S. Territories.
Accepts bad credit: Not stated
Instant approval: No
Credit check required: Yes
Tips to get your money fast
Submit a complete and accurate application and be sure all required documentation is provided during the application process.
Credible allows you to compare personal loans from multiple lenders that cater to a wide range of credit scores. Lender partners offer loans up to $200,000, and flexible repayment terms. It offers an easy-to-use online application process that allows you to prequalify and check rates without impacting your credit score. Plus, Credible offers a Best Rate Guarantee, offering a $200 gift card if you find and close a better rate with another lender.
How fast can you get it? Funding times vary by lender, some offer funds as soon as the same day, while others may take 1 to 3 business days after approval.
Loan details
Interest rate: 6.94% to 35.99% APR
Loan amount: $1000 to $200,000
Loan term: Varies by lender
Minimum income: Not stated
Incomes it accepts: Varies by lender
Minimum credit score: Varies by lender
States served: All states
Accepts bad credit: Yes, some partner lenders consider applicants with bad credit
Instant approval: Varies by lender
Credit check required: Yes
Tips to get your money fast
Applying early during a business day can expedite your application process. Some lenders have cutoff times for same-day funding, so submitting your application before these deadlines may increase the likelihood of receiving funds quickly.
If you have good to excellent credit, LightStream is one of the best options for an emergency loan. It’s known for having competitive rates, no origination fees, fast funding, high loan amounts and repayment flexibility. It offers a generous autopay discount, and its “Rate Beat” program is unique in the industry. If you get a better rate offer elsewhere, it will beat it by 0.1%.
How fast can you get it? One business day after approval or same-day if your approval is before 2:30 p.m. ET on a business day.
Loan details
Interest rate: 6.94% to 25.29% (includes autopay discount)
Loan amount: $5,000 to $100,000
Loan term: 24 to 240 months
Minimum income: Not stated
Incomes it accepts: Employment & alternative sources of income
Minimum credit score: Not stated
States served: All 50 states
Accepts bad credit: No
Instant approval: No
Credit check required: Yes
Tips to get your money fast
Apply early in the day. Apply online and close the loan before 2:30 p.m. ET on a business day to get your money the same day.
Universal Credit, owned by Upgrade, offers bad to good credit personal loans with fast funding when you need it. Loan amounts start at a low $1,000 with repayment terms from three to five years. The company accepts lower credit scores than other lenders and offers rates on par with most personal loans. However, it charges an origination fee between 5.25% and 9.99%.
How fast can you get it? Typically within one business day after approval.
Loan details
Interest rate: 11.69% to 35.99%
Loan amount: $1,000 to $50,000
Loan term: 36 to 60 months
Minimum income: Not stated
Incomes it accepts: Employment & alternative sources of income
Minimum credit score: Around 580
States served: Most states
Accepts bad credit: Yes
Instant approval: No
Credit check required: Yes
Tips to get your money fast
Apply early in the day. Apply online early in the day during PT business hours to increase your chances of next-business-day funding.
Current offers a free paycheck advance feature that allows you to borrow up to $750 of your upcoming paycheck with no interest or credit check. Eligibility requires receiving at least $500 of qualifying direct deposits into your Current account.
How fast can you get it? Advances are available within three business days for free, or instantly for a fee.
Loan details
Interest rate: None
Loan amount: Up to $750
Loan term: Repayment occurs automatically with your next payroll deposit
Minimum income: $500 in monthly eligible payroll deposits
Incomes it accepts: Employment income via direct deposit
Minimum credit score: None
States served: All states
Accepts bad credit: Yes
Instant approval: Yes
Credit check required: No
Tips to get your money fast
Download the app. Install the Current app and set up an account.
Set up direct deposit. Ensure you receive at least $500 in eligible payroll deposits into your Current account.
Use Instant Access. Opt for the Instant Access feature to receive your advance immediately for a fee.
Chime MyPay allows eligible members to access up to $500 of their paycheck before payday, with no interest or mandatory fees. Plus, you won’t need a credit check to qualify.
How fast can you get it? Advances are available within 24 hours for free, or instantly for a $2 fee per advance.
Loan details
Interest rate: None
Loan amount: Up to $500 per pay period
Loan term: Repayment occurs automatically with your next qualifying direct deposit
Minimum income: Receive at least two qualifying direct deposits of $200 or more per deposit or one qualifying deposit of $200 or more and add verifiable employment information.
Incomes it accepts: Employment income, gig economy income, and government benefits via direct deposit.
Minimum credit score: None
States served: Currently available in 33 states and Washington D.C.
Accepts bad credit: Yes
Instant approval: Yes
Credit check required: No
Tips to get your money fast
Download the app. Install the Chime app and set up an account.
Set up direct deposit. Ensure you receive qualifying direct deposits into your Chime Checking Account.
Use Instant Access. Opt for the instant advance feature to receive your funds immediately for a $2 fee per advance.
Cleo is a budgeting and cash advance app that lets you borrow up to $250 between paydays. While not a large amount, it’s interest-free and can be enough to cover small expenses. Cleo is also a good option for gig workers and freelancers. Unlike other cash advance apps, Cleo doesn’t require a minimum of recurring deposits to qualify for cash advances.
How fast can you get it? Three to four business days or same-day for a fee.
Loan details
Interest rate: N/A
Loan amount: Up to $250
Loan term: Next payday
Minimum income: Not stated
Incomes it accepts: Employment & alternative income
Minimum credit score: None
States served: All states
Accepts bad credit: Yes
Instant approval: Yes
Credit check required: No
Tips to get your money fast
Download the app. Download the Cleo app and create an account.
Link your bank account. Link your bank account so Cleo can verify your direct deposit activity. This allows you to become eligible for cash advances.
Pay an express fee. Use Cleo’s express transfer option to get your money the same day.
OppLoans is an online installment loan lender that provides bad credit emergency loans from $500 to $4,000. Its online application process is fast, and it only conducts a soft credit check, which doesn’t affect your credit scores. It offers funding as soon as the same day, but APRs run between 160% and 195%, depending on your state.
How fast can you get it? As soon as the same day you apply.
Loan details
Interest rate: 59% to 195%+ APR
Loan amount: $500 to $4,000
Loan term: 9 to 18 months
Minimum income: Not stated
Incomes it accepts: Employment income
Minimum credit score: None
States served: Most states
Accepts bad credit: Yes
Instant approval: No
Credit check required: Soft credit check
Tips to get your money fast
Apply early in the day. Apply online and close the loan before 1:00 p.m. ET on a business day to get your funds the same day.
EarnIn is a free app that lets you borrow $150 a day and up to $750 of the money you’ve earned each pay period with no interest. With EarnIn, your advance amount depends on the hours you’ve worked, which you can verify with a work schedule, a work email address or GPS tracking.
How fast can you get it? One to two business days for free or within minutes for a fee starting at $2.99.
Loan details
Interest rate: N/A
Loan amount: Up to $750
Loan term: Next paycheck
Minimum income: Not stated
Incomes it accepts: Employment income
Minimum credit score: None
States served: All states
Accepts bad credit: Yes
Instant approval: Yes
Credit check required: No
Tips to get your money fast
Download the app. Download the EarnIn app and set up an account.
Verify your paycheck. Follow the instructions in the app to verify your paycheck earnings.
Use Lightning Speed. Use EarnIn’s optional Lightning Speed service to get your funds within minutes. A fee applies for this service.
ACE Cash Express offers quick online or in-store payday and installment emergency cash loans to poor credit borrowers. It has over 800 store locations nationwide, and in some states, you can apply online and pick up your funds the same day. The company gets good ratings on Trustpilot, but it charges steep fees, making this option best for emergencies only.
How fast can you get it? As soon as the same day you apply.
Loan details
Interest rate: Up to 600%+ (equivalent APRs)
Loan amount: $100 to $2,000 (varies by state)
Loan term: Based on your pay date
Minimum income: Not stated
Incomes it accepts: Employment & alternative sources of income
Minimum credit score: None
States served: Most states
Accepts bad credit: Yes
Instant approval: Yes
Credit check required: No
Tips to get your money fast
Apply online and send funds to a debit card or visit a store. Apply online and send the funds to a debit card for instant funding, or pick up the cash same-day from a store if there’s one near you. These options may not be available to everyone.
Are emergency personal loans better than emergency payday loans?
It depends on your needs. Most personal loans charge between 7.5% and 35.99% APR. However, the lowest rates are reserved for excellent credit borrowers. If you have bad to fair credit, your APR could be closer to 20% or even 32%. However, this is still less than what you’d pay on a payday or installment loan.
But if you only need to borrow a small amount with a payday or installment loan and you can pay it off by your next paycheck, it could be cheaper than taking out a larger personal loan with a high interest rate that you pay off over several months or years. You could also use a cash advance app with 0% interest, although they sometimes require a monthly membership and fees for fast transfers.
How to pick the best emergency loan for bad credit
Compare your options. If you have bad to fair credit, consider a bad credit lender like Avant, OneMain Financial or Upstart. But if you have truly poor credit and don’t qualify for a personal loan, you may need to go with a payday or installment lender.
Use a cosigner or collateral. Adding a cosigner or co-borrower to a personal loan application can improve your chances of loan approval, and you can typically qualify for a lower rate. OneMain Financial is one bad credit personal loan lender that allows cosigners and collateral.
Consider alternatives. While bad credit loans are an option for people with poor credit, borrowing against your credit card could be cheaper — and there’s no application process if you already have a card. However, be mindful of interest rates, which are usually higher for cash advances than for purchases.
Consider the amount you need to borrow. Some loan options may offer larger amounts for more expensive emergencies like your car breaking down, while other loans are better suited for smaller emergencies like needing gas money quickly.
Can I get guaranteed approval for an emergency loan with poor credit?
There’s no such thing as guaranteed approval for an emergency loan, even with a payday or installment lender.
While these bad credit lenders tend to have flexible approval requirements, like loans with no credit check, you still need to show some type of regular income to qualify — like from a job, government benefits or child support. You may also consider looking into cash advance apps with no credit check, which offer small amounts of money quickly.
Can I get an emergency loan with no job?
Yes, it’s possible to get an emergency loan with no job, as long as you can show some other type of regular income, such as child support or alimony, a divorce settlement, Social Security or disability benefits, pension payments, rental income, investments or other sources.
Other ways to borrow money fast
If you don’t qualify for a personal loan or you don’t want to rely on a payday or installment loan, consider these other options to borrow money fast:
P2P lending platform. Solo Funds is just one community lending platform that provides small-dollar loans. There’s 0% interest, but members are encouraged to leave tips.
Employer advance. If you need cash before payday, ask your employer. If it’s a one-time situation, HR may be willing to help by advancing part of your paycheck.
Payday alternative loan (PAL). Some federal credit unions offer PALs — loans up to $1,000 — at reasonable rates to customers in good standing, but you’ll typically need to be a member for at least a month to qualify.
Buy Now Pay Later (BNPL) app. BNPL apps let you purchase items you need and pay them back in four installments. Choose from the best BNPL apps for cash-free purchases today.
Pawn store. If you have items of value, like jewelry or electronics, you could consider pawning them. But you risk losing your items if you can’t buy them back in time.
Emergency cash loans are available from personal loan lenders, payday lenders and cash advance apps — which can get you funds as soon as the same or next day. If you have fair to excellent credit, consider a personal loan. But if you have poor credit and don’t qualify for a personal loan, try a zero-interest cash advance app — or a payday loan as a last resort.
Frequently asked questions
How will I receive my emergency loan funds?
You can get emergency funds in several ways. The fastest could be in cash if you apply in-store or send them to a bank-issued debit card. If you want your funds transferred to a bank, it could take one business day or longer.
How can I get an emergency loan fast?
The fastest way to get an emergency loan is to apply online or in-app with a lender that has an automated 24/7 system. For example, the EarnIn cash app allows early access to your earned wages within minutes.
How do I get an emergency loan with no credit check?
Payday loans and some installment lenders, as well as cash advance apps, don’t require credit checks, and you could access emergency funds within minutes or hours.
What is a hardship loan?
Hardship loans are small personal loans meant to help people with temporary financial difficulties, such as medical bills, car repairs or household emergencies. These loans are typically offered by small banks and credit unions.
Lacey Stark is a freelance personal finance writer for Finder, specializing
in banking, loans, investing, estate planning, and more. She has 20
years of experience writing and editing for magazines, newspapers, and
online publications. A word nerd from childhood, Lacey officially got her
start reporting on live sporting events and moved on to cover topics
such as construction, technology, and travel before finding her niche in
personal finance. Originally from New England, she received her
bachelor’s degree from the University of Denver and completed a
postgraduate journalism program at Metropolitan State University also
in Denver. She currently lives in Chicagoland with her dog Chunk and
likes to read and play golf. See full bio
Thanks for getting in touch! You can find emergency short term loans on the information above. To find and compare your options, simply go to the box that says “enter your state.” Go and enter your state and it will show a list of lenders available. Take note that short term loans charge high interest when compared to other types of credit, so this needs to be taken into account before you apply.
When you have chosen the right lender for you, you will see a MORE INFO button if you want to read more about the provider via Finder review pages. You will find the providers benefits and features and how to apply to their company. Click the GO TO SITE button if you’d like to be brought to the official website of the provider. Know that this is where you get a quote or start your application. You can also click the compare box beside each loan option and compare up to 4 options side by side for easier comparison.
As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
If you’re a retiree and looking for a loan, there are lenders who may approve your application. Learn more about the loan types available to retired people.
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I need an urgent loan today.
Hi Nelson,
Thanks for getting in touch! You can find emergency short term loans on the information above. To find and compare your options, simply go to the box that says “enter your state.” Go and enter your state and it will show a list of lenders available. Take note that short term loans charge high interest when compared to other types of credit, so this needs to be taken into account before you apply.
When you have chosen the right lender for you, you will see a MORE INFO button if you want to read more about the provider via Finder review pages. You will find the providers benefits and features and how to apply to their company. Click the GO TO SITE button if you’d like to be brought to the official website of the provider. Know that this is where you get a quote or start your application. You can also click the compare box beside each loan option and compare up to 4 options side by side for easier comparison.
As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
Hope this helps!
Best,
Nikki