Best Emergency Loans in 2024

Financial problems and unexpected expenses can arise at the wrong time: appliances or cars may need repair; there may be an urgent need to pay for medical services or utility bills; you may need to buy some product, but there is not enough money, etc.

The traditional way to solve financial problems is to get an emergency loan from a bank. This is a good solution when a large amount is required. However, banks impose strict lending conditions and requirements for the borrower.

The requirements of online payday lenders are more acceptable. Only a minimal package of documents is required. You can apply for an unsecured loan online at any time. The main thing is to decide on the choice of a financial company and fill out a loan form on its website.

Read more about emergency loans in this article and find out their advantages and disadvantages.

Personal Loans for Good Credit: Best Offers

Online payday lenders allow applicants with good credit scores to get payday money quickly and without additional paperwork. However, there are many credit companies in the modern financial market, so how not make a mistake and choose the best option? There are several points that require attention:

  • Lending terms;
  • Specificity of obtaining an emergency loan;
  • Percentage for the use and accrual of penalties.

It is recommended to consider all the above points before choosing a lender. This will allow you to take out an emergency loan on the most favorable terms and without risks. Don’t worry if you have a hard time finding a reliable financial institution. We have selected the best emergency loans for good credit. Therefore, you only need to look through and choose the one that suits you best.


Upstart was founded in 2008 by French-born entrepreneur Gilles Gade. He proposed to improve the credit scoring model based on machine learning. In addition to the traditional indicators used by FICO, Upstart uses 1600 new ones that more accurately describe the borrower and take into account, in particular, the college where he studied, the courses taken, and even the GPA.

The company has accumulated 15 billion data points (input parameters and payment data). As a result, the platform has issued more than 622,000 loans to date.

Testing has shown that 27% more potential borrowers are eligible for soft loans using Upstart scoring. The reduction in the rate is, on average, 16%. At the same time, the quality of loans remains high.


Upstart offers a loan amount of $1,000-$50,000. APRs range from 3.09% to 35.99%. Origination fees of 0%-10% are usually charged. The loan term is 36-60 months. The minimum credit score is 600.

Key Features

The key feature of Upstart is that it offers a unique solution to improve the quality assessment of borrowers (scoring). The model is based on many criteria, thanks to which an accurate portrait of the client is formed.

The Upstart platform brings together consumers and banks. It is designed in such a way as to satisfy both parties. Thanks to artificial intelligence, Upstart allows banks to get conscientious clients. Consumers, in turn, get a great chance of being approved for an emergency loan at an acceptable rate.

Pros And Cons

The pros and cons of the lender are provided in the table below.

Pros Cons
Most loan applications are processed automatically, which is much faster than manual processing Late loan payment penalties are usually charged (up to 5% of the overdue amount or $15, whichever is greater)
Artificial intelligence has more than 1600 indicators that are trained on more than 9 million loan repayment events A Social Security number is required
The platform has successfully issued over 622,000 loans to date
Banks easily integrate the platform
The company has great prospects for the future


PersonalLoans™ is a popular company that offers unsecured personal loan services to US residents aged 18 and over. It was founded in 1998 and is headquartered in Houston, Texas, United States. PersonalLoans™ is not a direct lender. It is an online service that connects borrowers with online lenders. According to customers, this is the best platform for those who do not have a high credit score and have only a few options to choose from.


The available loan amount is $1,000-$35,000. Annual interest rate – 5.99%-35.99%. Emergency loan terms vary from 90 days to 72 months. An origination fee is 1%-5% of the total emergency loan amount. The minimum required credit score is 580.

Key Features

The features of PersonalLoans™ include the following:

  • The company is not BBB accredited and has a C+ rating;
  • A regular monthly income of at least $2,000 is one of the main requirements for borrowers.

Pros And Cons

The pros and cons of PersonalLoans™ are provided in the table below.

Pros Cons
Simple and convenient application process Rates. In addition to origination fees of 1%-5%, prepayment fees may apply. It all depends on the chosen lender
Fast funding The transparency of the site could be better. Users often have to contact the support service because it is difficult to find the information they need on the main page
Loyal requirements to borrowers
A bad credit score is accepted
Freedom in the use of emergency loan funds
Acceptable annual interest rates


Upgrade is another good company you can visit to get an emergency loan online. It was founded in 2016 by Renaud Laplanche and is headquartered in San Francisco, California. Upgrade is known for offering a variety of loan products, such as installment loans, personal loans, payday loans, emergency loans, etc.

Customers can use an Upgrade Bitcoin Rewards Card. This is a Bitcoin cashback card. In addition to various loan products, Upgrade offers effective tools for debt monitoring and financial management.


Upgrade emergency loan amounts usually range from $1,000 to $50,000. APRs are 8.24%-35.97%. The company has an origination fee of 1.85%-8.99%. It is charged when the client receives a loan. Loan terms are from 24 to 84 months. Monthly payments are required. The required credit score is 580.

Key Features

Since the minimum loan amount available is $1,000, and the maximum is $50,000, Upgrade is a great option for those who need small cash advances and those who require a large amount to cover their unexpected expenses.

The company prefers to work with people who have fair credit, but at the same time, the minimum required credit score is 580. Borrowers with poor credit scores are often approved but receive higher annual interest rates than usual.

Upgrade personal loans are generally unsecured. However, a company may offer a secured loan to an eligible applicant to make it easier to assess a lower rate. A debt to income ratio of the borrower is usually taken into account in this case.

Another important feature of the platform is that services are not available in all US states. Thus, Washington, Iowa, and West Virginia residents cannot request emergency loans from Upgrade.

Pros And Cons

The pros and cons of Upgrade are provided in the table below.

Pros Cons
Extensive network of direct creditors High interest loans compared to competitors
Not strict credit check The origination fee of 1.85%-8.99% for each loan
High available loan amount The cash advance cannot be spent for any purpose. There are permitted (credit card refinancing, debt consolidation, large purchases, home renovations) and prohibited (illegal activities, investments, gambling of any kind) uses


When looking for a trustworthy local credit union, be sure to check out Discover. You can request a deposit to your savings account there if you have a good credit score. Unlike other emergency loan lenders described above, which have recently entered the financial market, Discover was founded back in 1985. The main office is in Chicago, Illinois, USA.

Discover provides Digital Banking and Payment Services. The Digital Banking segment includes personal bank loans, student loans, mortgage loans, emergency loans, etc.

The Payment Services segment includes Pulse Network, Diners Club International, and its Network Partners business, which provides efficient payment transaction processing and settlement services on the Discover network.


By choosing Discover for personal loans, borrowers can receive from $2,500 to $40,000. APR is 6.99%-24.99%. This is a reasonably low rate compared to competitors. In addition, the company offers flexible repayment terms. A borrower should repay the loan within 36-84 months. A loan origination fee is charged. It often reaches 10%. The minimum credit score required is 660.

Key Features

If you want to get an emergency loan from Discover, you need to know its key features:

  • One monthly payment;
  • Fixed interest rate;
  • Flexible loan terms.

The company’s main requirement for borrowers is a credit score of at least 660 and a minimum household income of $25,000. If you meet the requirements, Discover might be the perfect choice for you.

Pros And Cons

The pros and cons of Discover are provided in the table below.

Pros Cons
Various loan options (personal loans, payday loans, emergency loans, etc.) Strict credit score requirement
Favorable annual interest rates Origination fees up to 10%
Good repayment terms


SoFi rightfully takes place among the best personal loan lenders. It was founded in 2011 as an education loan refinancing company. Over the past decade, the business has expanded, and SoFi has become a revolution in fintech.

Its app makes managing, borrowing, spending, saving, and investing money easy. In May 2020, the company acquired Galileo Financial Technologies (a provider of payment processing software), which helps businesses develop products in the areas of payments, cards, and digital banking.


SoFi is one of the leading national market lenders providing unsecured personal loans today. The minimum loan amount available is $5,000, and the maximum loan amount available is $100,000.

APR varies between 7.99% and 23.43%. Fees are not charged. A credit check is not strict. Repayment terms are from 2 to 7 years. During this time, the borrower needs to repay the debt by making affordable monthly payments. There is no credit score requirement.

Key Features

SoFi is a neo bank, an all-online fintech company with 2,000 employees and over 3 million users. Despite the absence of physical offices, the company offers all standard banking services.

It provides quality financial management through investments, budgeting, savings, student loans, refinancing, and cash protection. Affordable APRs set SoFi apart from the competition.

Pros And Cons

As SoFi customers note, the company has advantages and disadvantages. Check the table below to find out more.

Pros Cons
Large available loan amounts Services are only available to US residents
Flexible annual interest rates No tax-loss harvesting
No credit score requirements No socially responsible investing option
Excellent support service


If you need to cover your emergency expenses, you can also contact LendingPoint. It was founded in July 2014. Headquarters is located in Kennesaw, US. The company’s reputation is excellent. It has a Trustpilot rating of 4.8 out of 5 stars based on over 5,000 reviews. In addition, LendingPoint is accredited by the Better Business Bureau. Its rating is A+.


The minimum loan amounts vary. But borrowers usually request amounts from $2,000 to $36,500. APR is 7.99%-35.99%. Repayment terms are 24-72 months. Depending on the state, an origination fee of 0-8% may apply.

However, there are no prepayment penalties. Co-signers and co-borrowers are not permitted. The minimum credit score is 590.

Key Features

The key feature of LendingPoint is that it offers instant loan approval for emergency loans, even for borrowers with bad credit. However, interest rates can be relatively high.

Pros And Cons

The pros and cons of the online lender are provided in the table below.

Pros Cons
Convenient loan application process Relatively high APRs
Soft credit check An origination fee may apply
Fast funding
Flexible loan terms


LightStream is another reliable emergency fund that offers the best emergency loans on favorable terms. It was founded in 2019 as a result of the merger between SunTrust and BB&T. The headquarters is located in San Diego, California, US. LightStream is very popular today due to its diverse loan options and lucrative APRs. Cash advances are available to borrowers with good and excellent credit.


Depending on borrowers’ emergency expenses, LightStream can offer $5,000 to $100,000. The minimum APR is 5.99%, and the maximum is 24.49%. Fees and prepayment penalties are not charged. Borrowers can repay the loan within 2-7 years. The minimum credit score is 660.

Key Features

Key features of LightStream include:

  • The services are available to individuals with excellent credit;
  • Competitive rates;
  • Large loan amounts;
  • Same-day financing. Only in rare cases money is issued on the next business day;
  • There is no prequalification option.

Pros And Cons

Like all the above emergency loan lenders, LightStream has its pros and cons. Try to carefully study the details to determine whether you should use the services of the company or not.

Pros Cons
The company’s customers have access to high loan amounts There is no option to pre-qualify on the site
Reasonable APRs Several years of credit history is required to borrow money
There are no fees or hidden payments
Convenient website interface and ease of placing an application online


Earnin operates on a completely different model than the other personal loan lenders reviewed. It offers its clients to cash out up to $100 per day or $750 per pay period without interest or fees. The service provides instant access to earned funds.

It is enjoying great popularity today amid declining revenues due to the COVID-19 pandemic. People usually use borrowed money to cover unexpected expenses such as paying medical bills, utility bills, and so on.


Available loan amounts range from $100 to $750. There are no mandatory interest or fees. A credit report is not required. There are also no credit score requirements set. Best emergency loans are available to people with bad credit scores and those with excellent credit.

Key Features

The main feature of Earnin is that it does not conduct any credit check. To receive money through the Earnin app, all you need to do is create a personal account, providing information about the employer and bank account. As soon as the account becomes active, you can get loan proceeds. Earnin asks for a tip of no more than $14, but you can refuse it.

Pros And Cons

Getting a loan from the Earnin emergency fund can be quite beneficial if you don’t need a large amount to cover your unexpected expenses. Check the table below to learn more about the advantages and disadvantages of the company.

Pros Cons
No obligatory interest and fees Requires information about the bank account
Fast financing Small loan amounts available
The application is very simple and easy to use, so user can get a cash advance without any problems Frequent use of emergency loans can lead to bad financial habits

What Are Emergency Loans?

There may be situations in a person’s life when unforeseen expenses arise. The problem is certainly unpleasant but solvable. It is possible to get the necessary amount of money from the best emergency loan lenders. P

ractice shows that they issue emergency loans on pretty favorable terms. But what is an emergency loan?

This is a personal loan that gives you access to funds that are needed at the moment, for example, for urgent investments in your business, for repairing a house or apartment, for landscaping a garden, paying off accumulated utility debt, paying for studies abroad, etc.

How Do Emergency Loans Work?

Emergency loans work very simply. As soon as you understand that you need financial assistance from a reliable lender, you go to a specific site and leave an emergency loan application. Money is issued relatively quickly, often on the same or the next business day. There are no strict rules.

However, it is crucial to meet the requirements of the lender. These are usually age 18 or over, US citizenship, active savings account, Social Security number, a credit score of 580 or higher, etc.

Types of Emergency Loans

There are several types of emergency loans. One of the most popular is loans from credit unions. Federal credit unions are financial institutions aimed at meeting the needs of their members in mutual lending through aggregate monetary contributions.

The credit union operates on a cooperative basis, which ensures equal rights of all its members to influence the institution’s management and receive all the benefits from its activities.

Compared to other financial online lenders, profit is not the goal of credit unions. The main goal of their activity is to promote the financial well-being of local credit union members by providing them with financial services on a cost basis.

Therefore, credit unions offer is often quite beneficial. Consider brief descriptions of other popular types of emergency loans in the paragraphs below.

Personal Loans

Personal loans are the most common today. Borrowers choose them when they need money for personal expenses. This loan does not require collateral. You can get money quickly, and a minimum package of documents is usually required.

Loan amounts range from $1,000 to $100,000. APR is from 6% to 36%. The required credit score is from 560 to 660. It all depends on the lender you choose.

A personal loan requires strict adherence to the borrower agreement and regular monthly payments. The period for which the borrower needs to repay the loan is 12-60 months.

Credit Card Cash Advance

Credit card cash is among the best emergency loan alternatives. It involves a withdrawal of funds from your bank card account. There is a certain amount of money on the card account, available around the clock.

The amount of the limit is set by the credit company and depends mainly on the credit history of the borrower.

One of the key advantages of the product is the grace period. This is a certain period during which you can use borrowed funds without paying interest. With the timely return of borrowed funds, you can receive a cashback or an invitation to participate in bonus programs.

The main disadvantages of credit card cash advances are high interest rates and the impact on credit history.

Payday Loans

This is another type of emergency loans. It is a loan for 14 to 31 days, varying from $500 to $1,000. Such loans are very popular today because they allow borrowers to receive urgent funds to cover unexpected expenses (car repairs, home repairs, medical bills, grocery shopping, etc.).

Payday loans have many advantages over other types of loans. You can borrow money online without even leaving your home. It is necessary to fill out a special form on the lender’s site. Requirements for borrowers are simple.

You must be of legal age, reside in one of the US states, and have an active savings account. People with bad credit get approved easily. The main disadvantage of payday loans is high interest rates, which often reach 400%.

Pawn Shop Loans

Pawn Shop Loans is also a well-known type of emergency loans. Pawnshops offer secured personal loans. The average interest rate is 2.5% per day, while the annual rate can exceed 700%.

One of the main advantages of Pawnshop’s secured personal loans is the minimum required documents. Often only a passport is required from the client. This is very important for solving urgent problems that do not wait for the collection of documents and a response from a personal loan consultant.

Another important advantage is round-the-clock work, regardless of the day of the week and holidays. The downside is high interest rates.

Title Loans

A title loan is a loan that involves the use of a vehicle as collateral. This is a short-term personal loan. It is usually provided with a fairly high interest rate. Signing a loan agreement is an important step in obtaining title loans. Such an agreement describes the obligations of the two parties and indicates that the borrower’s vehicle acts as collateral.

When deciding to get title loans, please note that most online lenders will offer you 25%-50% of your car value for a period not exceeding 30 days. You will have to repay the loan in one monthly payment.

How To Get Emergency Personal Loan

As you probably already understand, almost everyone can get an emergency personal loan today. The main thing is to meet the requirements of the lender. Lending services are often used by pensioners, students, mothers on maternity leave, disabled people, and even able-bodied adults facing financial hardship. Borrowing money is easy. It is necessary to go through 3 simple steps:

  1. Fill out the application on the website of one of the reliable legal lenders. This takes about 10 minutes. You need to specify personal data, the amount you want to receive, and bank card details;
  2. Wait for the application to be approved. Most applications are processed automatically. So it won’t take long;
  3. Receive funds to the specified bank account. If the application is approved, check your account for the receipt of funds.

How To Get An Emergency Loan With Bad Credit

If you have excellent credit, you should not worry about any difficulties in getting a personal loan. You will get the necessary amount of money on favorable terms. If you have less than stellar credit or even bad credit, don’t worry either.

Many online lenders offer services for people with bad credit. But APRs, in this case, are higher than usual. To get an emergency loan, you need to follow all the above steps. Just be sure to choose a lender willing to borrow funds for people with poor credit scores.


Most emergency loans are small, up to $1,000. But it all depends on what type of loan is chosen. For example, a personal emergency loan allows you to receive up to $100,000, while payday loans – about $500.

Getting an emergency loan is easy. You just need to follow a few simple steps. The main thing is to choose a reputable online lender.

To get approved for an emergency loan, you need to carefully fill out the application form on the website of the financial company, indicating only accurate data. Otherwise, there is a risk of rejection.

A payday loan is the easiest emergency loan to get. Since the available loan amount is small, there are minimum requirements for borrowers.