What Is an Emergency Loan? How to Choose. How to Apply. Emergency Funds. Learn More About Emergency Loans.

Best Overall : Upgrade Investopedia's Rating 4. APR Range: 8. Why We Chose It. Pros Funding within one business day Competitive interest rates Rate discounts available.

Cons Origination fee up to 9. Have a credit score Be a U. citizen or permanent resident or have a valid visa Be at least 18 years of age Have a verifiable bank account and email address. Read the Full Upgrade Personal Loans Review Best for Low Minimum Credit Requirement : Upstart Investopedia's Rating 4.

APR Range: 6. Pros No minimum credit score Low minimum APR Funding the next business day. mailing address Have a valid email address Have a verifiable source of income Have a U. bank account. Read the Full Upstart Personal Loans Review Best Secured Loans : Regions Investopedia's Rating 4.

APR Range: 9. Pros and Cons. Pros Secured and unsecured loans available No origination fees Low interest rates. Cons Must be a Regions bank customer Loan amount limited to deposit account balance Not available in all states Charges late fees.

Have a Regions deposit account Live in a state where Regions does business. Read the Full Regions Personal Loans Review. Best for Repayment Terms : LendingPoint Investopedia's Rating 3. APR Range: 7. Pros Flexible repayment terms Low minimum interest rates Funding as soon as the next business day.

Read the Full LendingPoint Personal Loans Review. Best With No Credit Check : OppLoans Investopedia's Rating 2. APR Range: Loan decision not based solely on credit score No origination fees Same-day funding available No late payment fees.

Very high interest rates Short repayment terms Not available in all states. Be at least 18 years of age Have a bank account Have a verifiable source of income Receive income through direct deposit Available in any state except Colorado, Connecticut, Georgia, Maryland, Massachusetts, Nevada, New Hampshire, New York, Pennsylvania, South Dakota, Vermont, West Virginia.

Read the Full OppLoans Personal Loans Review for Best for Fast Funding : TD Bank Investopedia's Rating 3. Pros Loan funding within one business day No origination fees Low maximum APR. Cons Not available in most states Minimum credit score not disclosed Limited range of repayment terms Charges late fees.

Live in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington, D.

Read the Full TD Bank Personal Loans Review Best Credit Union : Patelco Credit Union Investopedia's Rating 4. Pros Flexible loan amounts and repayment terms Low minimum APR Offers secured and unsecured loans.

Cons Only available to credit union members Charges late fees. Be a Patelco credit union member. Read the Full Patelco Credit Union Personal Loans Review. Compare the Best Emergency Loans for Bad Credit: Compare Options for February Average Origination Fee.

Late Fee. Time to Receive Loan. Latest Repayment. Reset All. Hide, not for me. The Bottom Line If you need an emergency loan to cover an unexpected expense, and have bad credit, you have quick finding options available. And if you have bad credit, you may need to consider other types of emergency loans : Payday loans Pawn loans Car title loans No credit-check loans Each of these options will cost significantly more than a traditional personal loan yet may be an option if your credit is poor.

Best Uses for an Emergency Loan Some lenders may have restrictions on how you can use the loan, such for investing or gambling or to pay for college tuition and fees, but most situations that we would consider "emergencies" aren't among them.

Situations that might qualify include: An emergency medical bill A home repair or replacement of an appliance Car repairs Replacement for lost income to cover monthly bills Funeral costs In Investopedia's Personal Loan Borrowers Survey , when we asked current and potential borrowers what they planned to use their loan for, more borrowers said debt consolidation than for any other reason.

Frequently Asked Questions How Much Will an Emergency Loan for Bad Credit Cost? Where Can You Get an Emergency Loan if You Have Bad Credit?

Will an Emergency Loan Impact My Credit Score? How Fast Can I Get an Emergency Loan? Can You Get an Emergency Loan With No Credit Check?

What Is the Lowest Credit Score Needed for a Loan? Which Bank Is the Easiest to Get an Emergency Loan? Companies We Reviewed. Updated by Erin Gobler. Erin Gobler is personal finance coach and a writer with over decade of experience.

She specializes in writing about investing, cryptocurrency, stocks, and more. Her work has been published on major financial websites including Bankrate, Fox Business, Credit Karma, The Simple Dollar, and more.

Learn about our editorial policies. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.

We also reference original research from other reputable publishers where appropriate. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. Bankrate follows a strict editorial policy , so you can trust that our content is honest and accurate.

The content created by our editorial staff is objective, factual, and not influenced by our advertisers. com is an independent, advertising-supported publisher and comparison service.

We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site.

Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products.

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The article was reviewed, fact-checked and edited by our editorial staff. If life happens and you need to borrow money, you have options.

An emergency loan can help you get back on track and possibly rebuild your credit. Plus, some options are specially designed to help borrowers with low credit find relief.

Offered by select federal credit unions , payday-alternative loans are available in small amounts and come with short repayment periods. To apply, you have to be a member of a credit union offering this loan product.

Some credit cards have a cash advance feature that lets you pull funds from your credit line. Credit card issuers charge a transaction fee , usually between 3 and 5 percent, to use this feature.

Cardholders with available credit that need to access a small amount of cash and can afford to pay it back quickly. Payday loans are short-term unsecured loans for small amounts.

That said, lenders charge hefty interest rates to take out a payday loan. Furthermore, payment is often required by ACH withdrawal, and not having the funds available when the loan becomes payable often results in fees from your financial institution.

And if you live in a state that allows rollovers, it comes at a price that can keep you trapped in a vicious debt cycle. Some no-credit-check installment loans share similarities with payday and auto title loans.

Repayment terms on these loans may be longer than you need or a lender may encourage you to refinance the loan multiple times, resulting in exorbitant interest costs over the lifetime of the loan. Pawn loans require you to hand over a valuable item to a pawnshop as collateral for a small loan. You have to repay the loan, with interest, or the pawnshop will keep your item.

If repayment takes too big a bite out of your bank account, you could end up borrowing from the pawnshop again. With car title loans , a lender assesses the value of your vehicle and lends you a percentage of that amount. If you accept, the lender holds the car title and you receive your loan.

Payday loans are high-cost, short-term loans that are risky — even in an emergency. Cheaper alternatives to borrowing aren't always fast or convenient, and sometimes they require asking for help.

But NerdWallet strongly recommends exhausting alternatives first, even in an emergency. Here are some possible alternatives to an emergency loan. Best for: Help meeting basic needs. Community organizations such as charities, food banks and free loan associations can help you with home weatherization, free food, transportation to job interviews and other basic necessities.

NerdWallet has a database of financial assistance programs in each state. Best for: A no-credit-check loan with low- or no-interest for any purpose. Though it may be uncomfortable to ask, borrowing from someone you trust may be the most affordable and safest option. A loan from a friend or family member will probably not require a credit check.

You can draw up a loan agreement that includes when and how the money will be repaid as well as any interest the lender chooses to charge. Best for: Paying off medical debt at a low cost.

When you get a high medical bill, start with your free options: Set up a payment plan with your provider and negotiate the costs on your own. If you still need help, you can research low-cost medical credit cards or find a reputable medical bill advocate to negotiate on your behalf.

If you need money for a one-time emergency like a car repair or vet bill, try asking your employer for an advance on part or all of your paycheck. You can also use a cash advance app like EarnIn or Dave, which often have low mandatory fees.

These options effectively let you access your own money early, rather than providing additional cash that you repay over time, so be sure you can meet all your other monthly financial obligations with a rearranged pay schedule. Best for: A large purchase that you want to repay over time.

This option is offered at most major retailers. We collect over 50 data points from each lender and cross-check company websites, earnings reports and other public documents to confirm product details. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.

Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education.

We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. NerdWallet does not receive compensation for our star ratings.

Read more about our ratings methodologies for personal loans and our editorial guidelines. You can use an emergency loan to pay for unexpected expenses if you don't have savings or don't want to max out a credit card.

In a true emergency, they're a fast and convenient source of funding for borrowers who qualify. It may be possible for borrowers with low income to qualify for a loan since some lenders care more that you have steady income versus a specific amount.

Learn what it takes to get a loan with low income. You can get an emergency loan through a bank, online lender or credit union. Online lenders can fund loans quickly — sometimes the same or next day after you're approved — and many let you check your rate before you apply.

It usually takes a few minutes to apply for a loan if you have all the required documents ready. It's best to compare emergency loans with alternatives to find the cheapest way to borrow money.

Need a personal loan? Upstart makes it easier Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories.

CHECK RATES on Upstart's website. They have the innovated models that help me get the best offer that I could not see from other places. Wenya Wen. The loan application was easy to complete.

Every customer service rep I spoke to probably 4 or 5 different people were kind, knowledgeable, and respectful. The process proceeded quickly and without incident. The process was fast, straightforward, and simple. The information provided was ample and allowed me to make an informed decision with confidence.

Fast service and approval and great service. No hassles and quick deposit of funds. I would highly recommend Upstart if you can afford the interest rate and the monthly payments.

Discover more lenders. Discover more lenders Explore a wider selection of lenders and find the perfect match for your financial situation. Show Me All. Lenders catering to diverse financial needs. For unique credit situation and loan needs. Popular lender pick. Top 3 most visited 🏆. on LightStream's website.

Check Rate. on NerdWallet. View details. Rate discount. Fast funding. Flexible payments. Secured loans. Wide range of loan amounts.

Emergency loan lenders are set up to dispense cash quickly in times of financial emergency. Some online lenders will review your loan application, perform a If you need money quickly for an emergency, these lenders may provide fast funding. But compare any offers before you decide Best Overall: Upgrade Upgrade is our favorite overall emergency loan option because it has competitive interest rates, offers fast funding, and is available

Emergency loan lenders are set up to dispense cash quickly in times of financial emergency. Some online lenders will review your loan application, perform a If you need money quickly for an emergency, these lenders may provide fast funding. But compare any offers before you decide Non-loan alternatives for bad credit · Get help from a charity or local nonprofit: Call to learn more about financial resources that may be: Fast emergency funding

Title funring are secured and require you to hand over the emerbency to your vehicle as collateral in Fst for cash. How to get a fast business loan. If you are struggling with payments, contact your supplier to let them know. These get treated as arrears. If emergencies are unavoidable, borrowing to pay for one doesn't have to be. Emergency Loans 2.	That's why we provide features like your Approval Odds and savings estimates. APR 7. Why a Wells Fargo personal loan stands out: Wells Fargo says it can often deliver your funds by the next business day after loan approval. What to look out for The standout feature of getting an emergency loan from an online lender comes down to the speed of funding. For example, payday loans, auto title loans, and other high-interest, short-term debt can be incredibly expensive.	Emergency loan lenders are set up to dispense cash quickly in times of financial emergency. Some online lenders will review your loan application, perform a If you need money quickly for an emergency, these lenders may provide fast funding. But compare any offers before you decide Best Overall: Upgrade Upgrade is our favorite overall emergency loan option because it has competitive interest rates, offers fast funding, and is available	Some lending platforms like Upstart offer emergency loans online for one business day funding¹, so you can get your money faster. What's more Best Overall: Upgrade Upgrade is our favorite overall emergency loan option because it has competitive interest rates, offers fast funding, and is available Best personal loans for emergencies · Happy Money. 36 months. Term of Loan. %. Fixed APR. $ · Best Egg. 36 months. Term of Loan. %. Fixed APR	Best Emergency Loans of February ; Secured emergency loans. OneMain · OneMain Financial · % · $1,$20, ; Emergency loans with credit-building Online lenders: For many, an online lender may be their best bet for an emergency loan. They tend to have fast funding timelines, and they are easier to qualify The best personal loans for emergencies offer competitive interest rates, fast funding and a convenient application process
A fundibg of emergejcy can Rewards for everyday business expenses your funding, fundign depending on your bank, there Deferment documentation requirements be a wait before you can access your cash. see all articles. When you're facing a financial emergency, getting quick access to cash is a top priority. You can get an emergency loan through a bank, online lender or credit union. Related Articles.	According to our research, Upgrade is the best lender for emergency loans with bad credit because of its fast funding, low minimum credit score, and wide range of loan terms and amounts. The most common fee to look for with a personal loan is an origination fee. Other Options. If life happens and you need to borrow money, you have options. In addition to an unsecured personal loan, you can also choose from a secured credit builder loan, a secured savings loan, and other secured lending options.	Emergency loan lenders are set up to dispense cash quickly in times of financial emergency. Some online lenders will review your loan application, perform a If you need money quickly for an emergency, these lenders may provide fast funding. But compare any offers before you decide Best Overall: Upgrade Upgrade is our favorite overall emergency loan option because it has competitive interest rates, offers fast funding, and is available	The best personal loans for emergencies offer competitive interest rates, fast funding and a convenient application process Need money now? RISE offers emergency loans for emergencies like medical expenses, home repair and more Receive funds quickly: Applications processed and Emergency business loans can often be obtained within a few days, but you also need to consider the drawbacks	Emergency loan lenders are set up to dispense cash quickly in times of financial emergency. Some online lenders will review your loan application, perform a If you need money quickly for an emergency, these lenders may provide fast funding. But compare any offers before you decide Best Overall: Upgrade Upgrade is our favorite overall emergency loan option because it has competitive interest rates, offers fast funding, and is available
Make a payment Apply Now. FFast money emeggency make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials. Where can I go? APR Range 6. Each person takes a turn borrowing money from others in the circle and paying it back, and interest rates are generally low.	Same or next day. Look to Nonprofit Programs for Help How to Prepare for the Next Emergency Continue Monitoring Your Credit. Licenses and Disclosures. We think it's important for you to understand how we make money. Where to get an emergency loan. Loan uses. Can I stop my creditors chasing me for money?	Emergency loan lenders are set up to dispense cash quickly in times of financial emergency. Some online lenders will review your loan application, perform a If you need money quickly for an emergency, these lenders may provide fast funding. But compare any offers before you decide Best Overall: Upgrade Upgrade is our favorite overall emergency loan option because it has competitive interest rates, offers fast funding, and is available	The best personal loans for emergencies offer competitive interest rates, fast funding and a convenient application process Best personal loans for emergencies · Happy Money. 36 months. Term of Loan. %. Fixed APR. $ · Best Egg. 36 months. Term of Loan. %. Fixed APR Need money now? RISE offers emergency loans for emergencies like medical expenses, home repair and more Receive funds quickly: Applications processed and	While searching for a solution, you may see some other ways to get cash fast in an emergency, like: Credit card cash advances; Payday loans; Auto title loans The best emergency loans have low interest rates, fast funding, and flexible terms. Check out our picks for the best emergency loans Best Emergency Loans for Bad-Credit Borrowers of February ; SoFi: Best for loans of up to $, ; LightStream: Best for low interest ; PenFed Credit Union
Pawn loans. Stay away from payday or title loans Credit score improvement tips possible. The loan emervency was easy to complete. Can I get any financial support from the government? Can I get an emergency loan with bad credit? LendingPoint Check Rate on NerdWallet on NerdWallet View details.	You should consult your own attorney or seek specific advice from a legal professional regarding any legal issues. However, credit unions may be a better option than banks for those with less-than-perfect credit , as they tend to have more lenient credit and income requirements. A soft check allows us to peek at your credit score. While not every lender offers loans to borrowers with poor credit, you can still choose from several great options that offer flexible loan amounts and repayment terms at competitive interest rates. Examples of situations that require fast emergency cash include paying for a major car repair to get your vehicle back, a deductible to get admitted to urgent care or a roof repair company upfront.	Emergency loan lenders are set up to dispense cash quickly in times of financial emergency. Some online lenders will review your loan application, perform a If you need money quickly for an emergency, these lenders may provide fast funding. But compare any offers before you decide Best Overall: Upgrade Upgrade is our favorite overall emergency loan option because it has competitive interest rates, offers fast funding, and is available	A cash advance is a type of short-term loan designed to provide fast cash in a financial emergency. These advances are typically less than $ The best emergency loans have low interest rates, fast funding, and flexible terms. Check out our picks for the best emergency loans I need money now. Where can I borrow from fast? · Emergency credit · Credit unions · Grants · Trust funds · Help from your local council · Track down money you have	Best personal loans for emergencies · Happy Money. 36 months. Term of Loan. %. Fixed APR. $ · Best Egg. 36 months. Term of Loan. %. Fixed APR Non-loan alternatives for bad credit · Get help from a charity or local nonprofit: Call to learn more about financial resources that may be A cash advance is a type of short-term loan designed to provide fast cash in a financial emergency. These advances are typically less than $
APR Range 7. Upstart Eligibility for loan assistance programs it easier Upstart personal Fast emergency funding offer fast funding and may be emergendy option for fuding with low credit fmergency or thin credit histories. We collect over 50 data points from each lender and cross-check company websites, earnings reports and other public documents to confirm product details. Affordable fixed-rate monthly payments. As you consider your options, shop around and compare multiple lenders to make sure you find the right fit for you. Rocket Loans Check Rate on NerdWallet on NerdWallet View details.	Article Sources. However if you use a screen reader and require debt advice you may find it easier to phone us instead. Cons Must be a Regions bank customer Loan amount limited to deposit account balance Not available in all states Charges late fees. Cardholders with available credit that need to access a small amount of cash and can afford to pay it back quickly. How long will it take to approve my emergency loan application?	Emergency loan lenders are set up to dispense cash quickly in times of financial emergency. Some online lenders will review your loan application, perform a If you need money quickly for an emergency, these lenders may provide fast funding. But compare any offers before you decide Best Overall: Upgrade Upgrade is our favorite overall emergency loan option because it has competitive interest rates, offers fast funding, and is available	The best emergency loans have low interest rates, fast funding, and flexible terms. Check out our picks for the best emergency loans Some lending platforms like Upstart offer emergency loans online for one business day funding¹, so you can get your money faster. What's more Online lenders: For many, an online lender may be their best bet for an emergency loan. They tend to have fast funding timelines, and they are easier to qualify	I need money now. Where can I borrow from fast? · Emergency credit · Credit unions · Grants · Trust funds · Help from your local council · Track down money you have Emergency business loans can often be obtained within a few days, but you also need to consider the drawbacks They function like other personal loans, except they are branded for emergencies because of how quickly you can get the funds. They appeal to

Fast emergency funding - The best personal loans for emergencies offer competitive interest rates, fast funding and a convenient application process Emergency loan lenders are set up to dispense cash quickly in times of financial emergency. Some online lenders will review your loan application, perform a If you need money quickly for an emergency, these lenders may provide fast funding. But compare any offers before you decide Best Overall: Upgrade Upgrade is our favorite overall emergency loan option because it has competitive interest rates, offers fast funding, and is available

While we write individual reviews for most companies we research, we do not always write reviews for companies we would not recommend. These are the companies we researched, along with links to individual company reviews, to help you learn more before making a decision: Achieve , Affinity Federal Credit Union , Alliant Credit Union , American Express , Avant , Axos Bank , Bankers Healthcare Group, Best Egg , Bethpage Federal Credit Union , Blue Federal Credit Union , Boatloan.

com, Boeing Employees' Credit Union , CapexMD, Citibank , Connexus Credit Union , Discover , Dividend Finance, ENT Credit Union , Fig Loans, First Tech Federal Credit Union , Future Family, GoodLeap, Greenstate Credit Union , Happy Money , Hiway Credit Union , Lake Michigan Credit Union , Laurel Road , LendingClub , LendingPoint , LendingUSA , Liberty Federal Credit Union , LightStream , Lyon Financial, Mariner, Money Key, Mountain America Credit Union , NASA Federal Credit Union , Navy Federal Credit Union , Netcredit , Old National Bank , OneMain Financial , OppLoans , Patelco Credit Union , PenFed , Personify Financial , PNC Bank , Prosper , Reach Financial , Regions , Reprise , Rocket Loans , Santander , Service Federal Credit Union , SoFi , Southeast Financial, Summit Credit Union , SunPower, TD Bank , Teachers Federal Credit Union , Trident Funding, Truist , U.

Bank , Universal Credit , Upgrade , Upstart , USAA , Vantage Recreational Finance, Wells Fargo. To evaluate and rank personal loan providers we collected hundreds of data points across 70 lenders, including traditional banks, credit unions, fintechs, and special interest finance companies.

We researched and evaluated APRs, loan amounts and terms, fees, customer experience, and much more. To rank the lenders in our database and to generate star ratings, we weighted the data we collected, based in part on what consumers told us were the most important features of a personal loan and lender in a survey we conducted.

We grouped those factors into four broad areas:. Investopedia launched in , and has been helping readers find the best bad credit emergency loan companies since Learn more about how we evaluated personal loans in our complete methodology.

TD Bank. Patelco Credit Union. California Department of Financial Protection and Innovation. Veridan Credit Union. National Credit Union Administration. The Pew Charitable Trusts. Internal Revenue Service.

Consumer Financial Protection Bureau. Is This True? Cookies Settings Reject All Accept All. Best Emergency Loans for Bad Credit: Compare Options for February If youre not seeing anything in the results that are a good fit for your needs, consider warranties from these companies: Best Home Warranties Best Emergency Loans for Bad Credit Best Personal Loans for Bad Credit.

Company APR Credit Score est. Loan Amount More Details Best Overall. APR With Autopay Discount. Recommended Minimum Credit Score. Loan Amount.

APR Range. Not Disclosed This lender does not disclose its minimum credit score requirements. Why Trust Us. Read our Full Methodology. Best Emergency Loans for Bad Credit of February Expand. Best Emergency Loans for Bad Credit of February The Bottom Line.

What Is an Emergency Loan? How to Choose. How to Apply. Emergency Funds. Learn More About Emergency Loans.

Best Overall : Upgrade Investopedia's Rating 4. APR Range: 8. Why We Chose It. Pros Funding within one business day Competitive interest rates Rate discounts available. Cons Origination fee up to 9. Have a credit score Be a U. citizen or permanent resident or have a valid visa Be at least 18 years of age Have a verifiable bank account and email address.

Read the Full Upgrade Personal Loans Review Best for Low Minimum Credit Requirement : Upstart Investopedia's Rating 4. APR Range: 6. Pros No minimum credit score Low minimum APR Funding the next business day.

mailing address Have a valid email address Have a verifiable source of income Have a U. bank account. Read the Full Upstart Personal Loans Review Best Secured Loans : Regions Investopedia's Rating 4.

APR Range: 9. Pros and Cons. Pros Secured and unsecured loans available No origination fees Low interest rates. Cons Must be a Regions bank customer Loan amount limited to deposit account balance Not available in all states Charges late fees.

Have a Regions deposit account Live in a state where Regions does business. Read the Full Regions Personal Loans Review. Best for Repayment Terms : LendingPoint Investopedia's Rating 3. APR Range: 7. Pros Flexible repayment terms Low minimum interest rates Funding as soon as the next business day.

Read the Full LendingPoint Personal Loans Review. Best With No Credit Check : OppLoans Investopedia's Rating 2. APR Range: Loan decision not based solely on credit score No origination fees Same-day funding available No late payment fees.

Very high interest rates Short repayment terms Not available in all states. Be at least 18 years of age Have a bank account Have a verifiable source of income Receive income through direct deposit Available in any state except Colorado, Connecticut, Georgia, Maryland, Massachusetts, Nevada, New Hampshire, New York, Pennsylvania, South Dakota, Vermont, West Virginia.

Read the Full OppLoans Personal Loans Review for Best for Fast Funding : TD Bank Investopedia's Rating 3. Pros Loan funding within one business day No origination fees Low maximum APR.

Cons Not available in most states Minimum credit score not disclosed Limited range of repayment terms Charges late fees. Live in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington, D.

Read the Full TD Bank Personal Loans Review Best Credit Union : Patelco Credit Union Investopedia's Rating 4. Pros Flexible loan amounts and repayment terms Low minimum APR Offers secured and unsecured loans. Cons Only available to credit union members Charges late fees.

Be a Patelco credit union member. Read the Full Patelco Credit Union Personal Loans Review. Compare the Best Emergency Loans for Bad Credit: Compare Options for February Average Origination Fee. Late Fee. Time to Receive Loan. Latest Repayment. Reset All.

Hide, not for me. The Bottom Line If you need an emergency loan to cover an unexpected expense, and have bad credit, you have quick finding options available. And if you have bad credit, you may need to consider other types of emergency loans : Payday loans Pawn loans Car title loans No credit-check loans Each of these options will cost significantly more than a traditional personal loan yet may be an option if your credit is poor.

Best Uses for an Emergency Loan Some lenders may have restrictions on how you can use the loan, such for investing or gambling or to pay for college tuition and fees, but most situations that we would consider "emergencies" aren't among them.

Situations that might qualify include: An emergency medical bill A home repair or replacement of an appliance Car repairs Replacement for lost income to cover monthly bills Funeral costs In Investopedia's Personal Loan Borrowers Survey , when we asked current and potential borrowers what they planned to use their loan for, more borrowers said debt consolidation than for any other reason.

Frequently Asked Questions How Much Will an Emergency Loan for Bad Credit Cost? Where Can You Get an Emergency Loan if You Have Bad Credit? Will an Emergency Loan Impact My Credit Score? How Fast Can I Get an Emergency Loan? Can You Get an Emergency Loan With No Credit Check?

What Is the Lowest Credit Score Needed for a Loan? Which Bank Is the Easiest to Get an Emergency Loan? Companies We Reviewed. Updated by Erin Gobler.

Erin Gobler is personal finance coach and a writer with over decade of experience. She specializes in writing about investing, cryptocurrency, stocks, and more. Her work has been published on major financial websites including Bankrate, Fox Business, Credit Karma, The Simple Dollar, and more.

Learn about our editorial policies. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate.

You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Related Articles. Investopedia is part of the Dotdash Meredith publishing family.

Use these quick links for emergency support:. Whether you have one missed payment or many worrying debts, we can help you:.

Our advice is free and confidential. Get help now. We do not recommend payday loans or other forms of high-cost credit. It is better to look at credit unions and government-run schemes. These can give quick, emergency loans to people.

You need to be a member of a credit union to get a loan from them. Some will ask you to build up savings first. Turn2Us is a charity we work with. They help people get grants and access support services.

Your child may be eligible for free school meals. This can help to reduce some of your day-to-day costs. Find out if your child is able to get free school meals. Find out what to do if you are worried about being evicted.

You will need to contact your local council to find out how to apply. Check what you can get by using our free benefits calculator. You can apply for a budgeting loan instead. Read our guide about hardship payments and how to apply.

You can apply for a payment holiday from your:. You do have to make up the payments missed during a payment holiday. These get treated as arrears. Use one of our template letters to contact your creditors. Read our guide to Breathing Space and find out if you can apply. Learn more about which debts to pay first.

If you are struggling with payments, contact your supplier to let them know. They will discuss your options to help you repay the arrears. They offer services for people who need further help like:. If you have a pre-payment meter, some food banks can also help by giving you a small top-up if you are out of credit.

We have made a guide to dealing with energy bills , covering:.

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