Get a $2,500 loan

If your car breaks down or your pet needs surgery, you may need a loan to cover the unexpected expense. Thankfully, many lenders offer $2,500 loans with quick turnaround times and lower credit requirements than high-dollar loans.

Compare $2,500 loans for all credit types

Whether you have excellent credit or a less-than-perfect credit profile, there are multiple lending options to consider. Compare APRs, minimum credit score requirements and loan terms for lenders that offer $2,500 personal loans.

Lender	Min credit score	APR	Loan term	Finder rating
Best Egg	640	7.99% to 35.99%	3 to 5 years	★★★★★	Go to site
Upstart	300	7.40% to 35.99%	36 or 60 months	★★★★★	Go to site
Achieve	620	8.99% to 29.99%	2, 3, 4 or 5 years	★★★★★	Go to site
Prosper	600	8.99% to 35.99%	2 to 5 years	★★★★★	Go to site
LendingClub	600	8.98% to 35.99%	2 to 5 years	★★★★★	Go to site
Upgrade	580	9.99% to 35.99%	2 to 7 years	★★★★★	Go to site
Rocket Loans	640	9.116% to 29.99%	3 or 5 years	★★★★★	Go to site
Avant	580	9.95% to 35.99%	24 to 60 months	★★★★★	Go to site
OneMain Financial	Not specified	18% to 35.99%	24, 36, 48 or 60 months	★★★★★	Go to site

How much does a $2,500 personal loan cost?

The total cost of your $2,500 loan depends on the interest rate, which could be anywhere between 6% and 36%. The rate you qualify for depends on your credit score, income, debt-to-income ratio (DTI) and other factors.

In general, the better your credit, the lower your rate. However, it’s unlikely you’ll get a 6% rate on this loan size, even with excellent credit, because it’s a smaller loan amount.

You’ll also want to consider any lender fees that could add to the total loan cost. One of the most common fees charged is an origination fee (aka, a processing or administrative fee), which could be up to 10% of the loan.

You’ll find that not all lenders charge origination fees, but it’s something to look for. Be aware of fees charged for late payments or insufficient funds and any prepayment penalties if you plan to pay the loan off early.

Calculate your monthly loan repayments

Use our calculator to compare monthly loan payments based on a $2,500 loan at different interest rates and loan terms.

How long does it take to get a $2,500 personal loan funded?

Once your loan is approved, you should see the loan proceeds deposited in your checking account within one to three business days, depending on the lender. The lender usually notifies you of approval the same day you apply or the next.

Approval delays might occur if your application is incomplete or the lender requests additional documentation. But, in general, you should receive loan funding within four days from the date you apply.

How to pay off a $2,500 loan

Sticking to your set repayment structure is a solid plan, but there are a few ways to pay your loan off faster and save on interest charges.

• Pay more than the minimum. Anything extra you add to your monthly payment shortens the loan term and saves you on interest charges.
• Split payments. You can also save on interest by making half your payment 15 days before the due date and the other half on or before the due date, with no extra cash spent.
• Use autopay. Many lenders offer a discount on interest if you agree to automatic payments deducted from your bank account.
• Use a balance transfer card. Check for offers on your existing credit cards or apply for a card with a 0% introductory rate on balance transfers. There is a transfer fee (usually 3% to 5%), but it’s probably less than you’re paying in interest.

Eligibility requirements for a $2,500 loan?

Lender requirements vary, but the following criteria give you an idea of what lenders expect when you apply for $2,500 personal loans.

• Fair to good credit. Some lenders are more strict than others, but a credit score of 600 or more should be enough to get approved for a $2,500 loan.
• Low DTI. You may qualify for loan approval with a DTI of 43%, but if you can get it below 36%, that’s even better.
• Proof of steady income. Depending on your job, lenders may want to see W-2s, paystubs, 1099s or bank statements to verify your income.
• Be 18 and a US resident. In most states, you must be at least 18 years old and a US citizen or permanent resident.

How to increase your chances of approval

Higher credit scores give you better approval odds, so try to boost your scores before applying. Start by getting a free copy of your credit report to check for errors (it happens), so you can dispute inaccuracies and have them removed from your credit file.

If you’ve assessed your financial and credit situation and think you might not qualify, ask a friend or family member to cosign on the personal loan. If your cosigner has great credit, you have stronger approval odds. Proper management of the loan will boost your credit scores as well.

What to watch out for

With any type of loan, there are a few key things to consider as you do your research.

• Fees. Other than interest charges, lenders may charge additional fees, such as origination fees or penalties for late payments or prepayment of the loan. Be aware of each lender’s fee structure before applying, as it could significantly add to the total loan cost.
• Loan terms. Shorter loan terms typically have lower interest rates, but your monthly payments are higher. Make sure the lender you choose has a loan term that fits your budget.
• Reputation of lender. If you’ve never heard of a lender, research and read reviews about the company so you know you’re choosing a reputable lender.
• State you live in. Make sure a lender operates in your state before you do further research.

Alternatives to $2,500 personal loans

If you don’t qualify for a $2,500 loan or just want to explore your options, consider some alternatives.

• Use a credit card. While not always ideal, if you need quick funding in an emergency, you can charge it to a credit card (or get a cash advance) and pay it off as quickly as possible. Alternatively, you can apply for a card with a 0% introductory rate and avoid interest charges for up to 18 months.
• Payday alternative loan (PAL). PAL loans are capped at $1,000, and you need to join or be a federal credit union member, but it might be enough to tide you over.⁽¹⁾
• Cash advance apps. Cash advance apps are typically low-dollar loans but could provide some quick cash between paychecks.

To explore other options for $2,500 personal loans, check out our list of alternative borrowing solutions.

Frequently asked questions

Can I get a $2,500 loan with bad credit?

Most lenders like to see a minimum credit score of around 600, but there are a few options for borrowers with lower credit scores. For example, Upstart may extend loans to people with a credit score of 300, but you will have to meet other requirements.

Can I get a $2,500 loan with no credit check?

Lenders normally want to check credit scores before extending a loan, but there are some that offer loans with no credit check. Keep in mind that you will likely have to meet other criteria, such as a minimum income, and you may need to agree to automatic withdrawals for payments. In addition, interest rates and fees could be very high compared to other lending options.