Best Emergency Loans for Bad Credit

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Contributor, Benzinga
August 14, 2023

What precisely are you looking for in terms of quick internet loans? Taking out an emergency loan may be difficult if you have a low credit score. This is a typical problem with credit reports since you spend time doing unnecessary research. An emergency expense is just that, an emergency. You don’t have a lot of time to deal with eligibility requirements, payment fees, the loan rate offered, what your payment history looks like, the specific loan type you would prefer, an origination fee, etc.

An unexpected medical cost, house or auto maintenance, food shopping, rent, or mortgage payment may all be due right now. When we're stuck in this situation, understanding that there's a simple and quick answer for these difficulties is a huge comfort. You don’t necessarily have to dive into your credit cards, and there are multiple loan options out there.

The objective of a negative credit emergency loan is to provide a soft landing during difficult times, especially if you don’t have an emergency fund built up. They provide financial assistance to persons who might otherwise be unable to get assistance from traditional sources.

If you want to learn about how and why to receive cash from the best loans for emergencies, keep reading to find out how.

Once your minimum credit score requirement improves, it will be easier to qualify for different loans, including a mortgage or unsecured personal loans.

The Best Emergency Loans

Here are the detailed reviews of Benzinga’s top picks for emergency lenders:

1. Best for Emergency Loans: Avant

Avant is a lender you can turn to when you need to get a quick loan that will help you handle many of the twists and turns that life throws your way. When you apply with Avant, you complete the process online, pay a low origination fee, never worry about a prepayment fee and manage your account through the website. There’s no need to visit a loan officer or schedule time out of your busy schedule to meet with someone to close the loan. Avant handles everything.

The website is easy to view even on a mobile device, and your business can take advantage of:

  • No collateral, unsecured financing
  • An online loan eligibility calculator
  • Loans that could be as high as $35,000
  • A range of loan terms that suit your situation

With a great customer service team and available funding for any number of situations, you can turn to Avant when it’s time to finance emergencies, unexpected expenses, etc. You can get the money you need right now, move on with your life and remain on the path to financial freedom. Plus, you can use these loans for very specific things like school expenses, vacations, emergency travel and much more.


  • Because the platform handles everything online, it’s much easier to get quick service
  • The customer care team can help you with your account whether you are applying, awaiting approval or managing your loan


  • While this platform can help you obtain an emergency loan, there’s no guarantee that you will be approved for the amount of money you need

2. Specializing in Emergency Loans & Bad Credit Loans: MoneyMutual

MoneyMutual is an internet site for lending money that is completely free to use. Their job is to put individuals in need of loans in contact with the vast pool of lenders in their network who are prepared to provide emergency loans to borrowers with poor credit.

Founded in 2010 and headquartered in Las Vegas, MoneyMutual holds the highest standards possible while conducting its operations in the commercial sector. 

The organization has assisted millions of customers with their urgent financial needs with great success. Especially those who have no other option for acquiring the necessary amount of funds other than to take out loans. 

MoneyMutual makes it simple to set up an account, and they specialize in providing their customers with the greatest lending options without a background check. You can request an emergency loan from $200 to $5,000 whenever you choose, with no limits on how you may use the money, vacations, debts, tuition, etc.

MoneyMutual's experienced staff will provide you with dozens of trustworthy online creditors from which to pick. You may obtain the cash the same day if a lender approves your application. Moreover, this site is completely safe and secure, ensuring the protection of your personal information.


  • Getting a loan is a simple three-step procedure
  • The site is safe and protected
  • Loan qualification standards are lenient
  • Services for quick loan processing


  • To be eligible, one must earn at least $800 per month

3. Best for Fast Funding: BadCreditLoans

BadCreditLoans is a lending service that is swift and inexpensive. As per the reviews, customers got offers within minutes after completing their applications. That means the site is prepared to accept your application and disseminate it to its community of lenders as soon as possible, meaning that you’re not waiting long for an answer.

In order to apply and be accepted, you will need a sustainable income, including a job, a small business, or social security. Plus, you’ll need a valid bank account, active cell phone numbers and an email address. But what makes the site most unique is that you can obtain loans from $500 to $50,000, with terms of 3 to 36 months. 

Annual interest rates can vary from 5.99 percent to 35.99 percent (APR), depending on your creditworthiness, etc.

The firm uses advanced technology to prevent hacking attacks or the use of customers' personal information.

Those loan choices offered are likewise reliable and make it easy for you to make financial decisions.


  • There are loans available starting from $500 to $50,000
  • It's simple and free to join
  • No rigorous credit check
  • No need for a security deposit


  • Clients with poor credit are unable to get significant loans

4. Best for Instant Payday Loans: RadCred

This platform may be the safest location to receive an emergency loan to pay unexpected needs. The site has partnered with local creditors who have prepared outstanding deals to assist you in a time of need. As you complete the application, it goes out to partners who can make offers to you.

RadCred utilizes a 2048-bit RSA encryption mechanism to safeguard the database and has a trustworthy site trademark on the webpage. The system reduces the time it takes to submit the request and clearances, which may take up to a few hours. Depending on the loan purpose and your reputation, the creditors will produce a customized loan offer.

The registration form is on the RadCred's website, and it will appear once you open it. The loan amount is the first item you should decide on. RadCred provides loans ranging in size from $100 to $10,000. Remember, though, those with low credit scores cannot borrow more than $2,000. What does this mean? RadCred will give loans to those with terrible credit. The payback time is adjustable, ranging from three to seventy-two months. Third parties will link you with a lender if the platform is unable to do so. 

RadCred's lending partners provide multi-purpose loans, so you can simply select one that meets your requirements. Finally, loans from this platform have a fixed or variable annual percentage rate (APR) varying from a 5.99% percent to 35.99% percent interest rate.


  • Repayment plans that are straightforward and adaptable
  • There are non-binding rates available
  • Up to $10,00 in loans are offered


  • Some creditors may ask for bi-monthly payments

5. Best for Instant Cash Approval: CashUSA

CashUSA is an online platform for loans that connects customers with their wide network of lenders based in the United States. The enterprise has built a name for itself in the industry as one of the most reliable and convenient places to get a short-term loan in a hurry. This reputation has spread across the market, letting borrowers such as yourself access loans from $500 to $10,000.

Money goes into your account very quickly, and you can choose from different loans and terms that will match up with your needs. When you get the offers on the site, you can quickly decide which you prefer. Because the partners on the site are ready to lend today, you’re not left wondering if you can get the money you need or not.

Plus, you can see the rates attached to each of these loans so that you can decide what combination of rates and terms will work out best for you.

Because most customers disclose a significant amount of their personal information to people they have never met online, privacy and security are big sources of worry for them. However, in order to prevent information from being shared with unauthorized parties, CashUSA's website has been subjected to stringent security checks.


  • Services are straightforward to use
  • 1 million+ visitors on the site
  • A big community of lenders
  • Educational blogs available


  • The application process may be lengthy
  • Some borrowers may be turned down due to eligibility requirements

6. Best for Interest Rates: Personal Loans

One more credible site on this list that connects lenders and borrowers is Personal Loans. Even if your FICO score is 500, you may receive a personal loan for $1,000 to $35,000. This Utah-based firm has been working for years, and it has gained the confidence of many prospective consumers who have great things to say about it. 

When you submit an application, that information goes to the whole network of lenders so that you can get an offer and see what’s best for you. You can also request customer care from Personal Loans at any time.

Rest assured that your info is protected with Personal Loans, as it is kept out of the reach of unauthorized access. For linking you to a lender, Personal Loans will not charge you anything. They provide this support at no cost to you.

Rates range from 5.99% to 59.99%.


  • Loan balances of up to $35,000 are available
  • You have the option of selecting and comparing several offers
  • There are almost 100 lending partners
  • A high rate of success


  • Personal Loans do not guarantee loan approval
  • The fees that apply may be greater than ideal

Beginner’s Guide: Getting Emergency Loans For Bad Credit

You should do your research and compare deals before borrowing money from an emergency creditor. That way, you'll be able to choose the ideal emergency loan source. Use these tips to learn what to look for in an online lender and how to prepare yourself for one of these loans.

Criteria for Qualification

In most cases, borrowers who are above the age of 18 and have stable incomes are the only ones eligible for emergency loans from financial institutions. 

When determining whether or not an applicant is qualified for an emergency loan, most lenders look at the applicant's credit history. 

For instance, most creditors would not provide loans to those with a credit score lower than 600, which is considered fair to excellent.

What happens if you have a history of credit problems? Even if you have poor credit, it is possible to get loans. Be aware, however, that the interest rates on loans for those with poor credit are often much higher.

Value of the Loan

The min and max loan amounts that a creditor is prepared to provide are often listed on their website. For instance, MoneyMutual provides loans ranging from $200 to $5,000, while CashUSA provides loans ranging from $2,000 to $35,000. 

There is no use in approaching lenders who won't go less than $1,000 if you require less than $500 in financing; they won't even consider your application. 

Also, if you have a bad credit score, you may not be eligible to obtain the highest loan amount that a lender offers.

You can use debt consolidation loans or receive an unsecured loan.

Paperless Transactions

The whole procedure is streamlined to need the bare minimum of time and paper. You will simply need your Social Security Number and your bank account number. 

You may look for the necessary information on the bank's website, which you can access online even if you cannot locate the bank data. Everything is straightforward and uncomplicated.

Borrowing money from online lenders relieves stress and makes the procedure simpler than dealing with a bank. You will only need to complete one application form, which will then be sent to all of the hundreds of lenders who are part of the network. 

Because of all that was discussed, borrowing money is made easier, which is why these platforms are the most frequented sites for borrowing more cash.

Keep these qualities in mind when looking for a lender that offers the finest emergency loans:

Company Reviews

When you consider getting a loan for an emergency, this should be the first and most important factor on your list. 

Before providing your final approval, you should make sure that you have read through the customer review part of any platform you decide to use, whether that platform is Cash USA or Personal Loans, etc.

Customer Service

Pick a lender that offers its services via a straightforward and accessible internet interface. The greatest financial institutions provide customer care around the clock through mobile applications and websites. 

In addition to this, the online platform that you use should have a sufficient level of security to prevent any of your personal information from getting hacked.


Lenders often collect fees in exchange for the services they provide. One or both of these costs might be an application charge or an acquisition fee. 

If you cannot make your payments when they are due to an emergency lender, you may be subject to late payment penalties.

The best loans for unexpected expenses are ones with reasonable rates. To get such loans, you should look for lending institutions that provide low costs in addition to the most alluring interest rates. 

You could also check to see whether the lender has any hidden costs by reading reviews left by previous customers.

Terms and Conditions

Payment terms are the terms through which a creditor asks a borrower to pay a loan. The conditions will usually contain the amount of time you have to pay back the loan and the rate of interest you will pay.

The trusted emergency loans provide a practical monthly payment schedule for you. You may have to return the full cash plus interest within a few months if you loan a few hundred dollars. A bigger loan may have a one- or three-year term based on the creditor.

Timely Acquisition of Funds

If you require an emergency loan, it is in your best interest to obtain the profits of the loan as quickly as possible. As a result of this, you should only deal with an emergency creditor that can deposit the loan proceeds of the loan in your bank account within one business day. 

Choose a financial institution that can provide you with a loan on the same day if you need your money quickly.

What Can You Do With An Emergency Loan?

Several lending firms restrict the use of emergency loans. This is not the truth with the networks we already stated. 

Based on our advice, you may still apply for emergency loans with poor credit and utilize them for whichever reason you desire. Nonetheless, there are many common reasons why individuals seek an emergency loan, such as:

Healthcare Expenses

In the event that you or a close relative has to travel to the emergency room, you will not be able to pay for the associated charges right away. 

You may always consider getting emergency loans from some of the most reputable lending firms and asking the people around you for financial assistance. These companies have been listed above.

Automobile Maintenance

It's no difference what kind of car you drive, whether it is brand new or many years old; it is always possible that it may need maintenance at some point. 

You may take care of such repairs in an expedient and quick method if you get an emergency loan.

House Fixes

As a homeowner, you can have problems with the furnace breaking down, the faucet leaking, the toilet running, or another household issue. 

In circumstances like these, it is best to avoid asking individuals closest to you for financial assistance and instead apply for and get a short-term loan that can be paid back over the allotted amount of time. 

When something unexpected happens to your household, it's a good thing that you have access to loans for unexpected expenses.

Daily Heavy Expenses

A lack of financial resources may often wreak havoc on your well-being in life. In the course of regular life, you can find yourself in difficult circumstances, such as being fired from your job, having your work hours reduced, or being unable to work for whatever reason. 

Consequently, if you are having trouble paying your mortgage, electricity, rent, or other payments during this challenging time, you always have the option of applying for an emergency loan.

The Advantages of Instant Loans

Improving your daily living routine may always benefit from looking into getting emergency loans, even with negative credit. 

The use of these loans, just like any other kind, comes with a number of advantageous outcomes.


Though emergency loans are designed to help you in need, you may also use them to pay various expenses. While the funds are sent straight into your bank account, you may utilize them for various objectives, including keeping your home secure, taking last-minute trips, restoring leaking roofs during wet seasons, and more. 

You may use these loans to make your life easier by consolidating debts and dealing with crises.

When it comes to payments, emergency personal loans might be highly flexible. In most cases, lenders provide you with many options for repaying the emergency loan. 

Typically, the personal loan payback schedule is tailored to each individual's requirements and typically ranges from 3 to 72 months.

No Security Deposits

These loans are often unprotected, which means that you will not be required to provide any kind of collateral in order to get them. In addition to this, you will have access to the finest emergency loans, which translates to the lowest possible interest rates in the banking sector.

Quick Approvals

After locating a reputable lender, the next step that you should take is to apply for a loan. 

The application procedure for the finest emergency loans for those with terrible credit is simple and can be quickly completed.

Just wait a while to find out whether a lender will grant you a loan once they've made their decision. Because of this function, you will be able to acquire your emergency loan as soon as possible, allowing you to immediately fix your financial troubles.

Find an Emergency Lender Today

After going through this best emergency loans article, you may wonder which emergency lender you would call for a loan now that you understand about the top emergency loans? 

Pick a good creditor who can swiftly process your loan request and supply you with a balance that meets your needs. 

Look for a lender that provides bad-credit loans if you have a poor credit score. Unlike traditional lenders, who need several paper applications, in-office or even in meetings, and extensive inquiries, these payday loans enable you to get cash in your bank account in as little as 24 hours.

Not only that, but by submitting your on-time monthly payments to credit agencies, these platforms may help you build an ideal credit score.

Frequently Asked Questions


What happens If I forget to pay or pay late?


Missing payments is not ideal. The lenders may impose hefty penalty costs, which may raise the loan’s value. Skipping a payment, getting late, or getting early payoffs, for example, may result in fines of more than $100.

Before you sign the loan agreement, the lender determines the conditions and charges. If you read all of the contract’s subheadings and look at the penalties, you’ll see that skipping payment will cost you a lot of money. 

To prevent paying extra monthly fees, try to remember the dates or set up an autopay function.


What happens If I don't get a loan offer?


This might result from many factors, including not satisfying the qualifying requirements or having a below-average credit score. 

Some online lending platforms may provide you with extra options for credit restoration, money planning, or other assistance if you do not obtain any offer.

Sadly, the creditors cannot take a chance on everyone and offer them money since they cannot afford it. 

Certain exchanges use third-party networks that are willing to engage with you and instruct you on how to become more responsible in managing your finances.


Is taking out an emergency loan a decent concept?


They are, without a doubt. These outstanding financial options may be the solution to all of the problems you’ve been having with your cash. 

Personal Loans are the most suitable option for you to go with if you are the kind of person who is able to take responsibility for their debts and always pays their bills on time.

However, not everyone qualifies for loans for unexpected expenses. Before deciding on an alternative to a secured loan, you should always be conscious of the kind of person you are, your current financial situation, the amount of money you bring in each month, and your capacity to return the loan on time without incurring any extra expenses or penalties.


When is the correct time to get an online loan for emergency cash?


If your scenario necessitates paying your bills in a matter of days but your bank demands you to wait a few weeks, online providers may be your only option. 

These creditors will provide you with funds rapidly, but you should be aware that these loans have greater costs and interest rates than ordinary loans.

Taking loans from friends and relatives may be unsettling, and many others will be aware of it. You may apply for a loan online and escape the rumors and gossip. 

If these loans are your sole source of additional cash, they are the best and only option available to you.


Why is it necessary to meet the emergency loan eligibility criteria?


These rules are in place to prevent people below the age of 21 from taking loans for frivolous reasons and putting their parents in debt. 

Since these services are only accessible in the United States, you must be a citizen of the United States. 

Other forms of loans are available to those outside the United States. If you don’t have a bank account, you won’t be able to borrow money. 

Only a checking account is used for the money transfer, so the lender has confirmed that he provided you with the money.

The third condition is to make enough money to meet all of your monthly expenses. Many lenders may refuse to provide you a loan due to your low monthly income, which is insufficient to meet loan fees while still allowing you to live comfortably.\

Emergency loans come in the form of unsecured personal loans, credit card cash advances, payday loans, pawn shop loans and title loans.


Can I get a loan without the need for a credit check?


Before granting a loan request, most online lending services do a light credit check on the applicant. A soft inquiry into your credit history takes very little time, and it does not impact your credit score. 

Other than that, if a financial institution specializing in emergency loans decides to provide you a loan without first doing a credit check, you can anticipate that the loan will come with a very high-interest rate.


What is the highest loan amount one can get with a low credit score?


Even if you have a low credit score, you may be able to get a loan of up to $25,000 via one of the many online lending companies. 

You must, however, never borrow the max number that is made available by a creditor unless it is absolutely necessary.

The interest rate on loans for poor credit is often rather high. If you take out a big loan at a very high-interest rate, you may find it difficult to repay the amount. 

If you submit your payments late, you will incur more debt and suffer further harm to your credit score.


Is there a way to not take up interest loans?


Consider borrowing from a local bank or a close person if you want an interest-free loan. You won’t be exposed to the harsh restrictions of a typical business lender if you borrow money from a friend or family member.


What sets online lending apart from traditional lending?


There are several reasons to enroll. You may apply through many networks from the comfort of your own home using online financing. It also prevents you from dealing with a slew of short credit queries. Furthermore, these sites provide you with very low-interest rates.

Finally, the nicest part about internet loan sources is that their lenders periodically report your activity to credit bureaus, which may improve your credit score.

About Patton Hunnicutt

Patton Hunnicutt is a contributor and editor at Benzinga. He’s worked for several years on financial content, addressing issues related to personal finance, investments, retirement, and more.