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With fast funding times, flexible repayment terms, and secured loan options, is our choice for the top lender for 澳洲幸运5官方开奖结果体彩网:bad credit emergency loans. Depending on your credit score and financial need, another lender on our list may be better for you. For example, borrowers with poor credit or no credit history may have better luck getting approved by Upstart, which does n🃏ot require a credit score.
Most 澳洲幸运5官方开奖结果体彩网:personal loan lenders can fund a loan within a few business days, but some offer better options in an emergency than others. We evaluated 59 lenders based on funding time, rates and fees, repayment terms, customer experience, and many othe🅘r criteria to select the best emergency l🅘oans for bad credit.
- Best Overall, Secured Loans, Flexible Repayment Terms: Upgrade
- Best for Low Minimum Credit Requirement: Upstart
- Best for Fast Funding: 澳洲幸运5官方开奖结果体彩网:LendingClub
- Also Good for Secured Loans: 澳洲幸运5官方开奖结果体彩网:Universal Credit
- Best Credit Union, Co-Borrower: 澳洲幸运5官方开奖结果体彩网:Patelco Credit Union
- Also Good with a Co-Borrower: Prosper
What to Know First
With fast funding times, flexible repayment terms, and secured loan options, is our choice for the top lender for 澳洲幸运5官方开奖结果体彩网:bad credit emergency loans. Depending on your credit score and financial need, another lender on our list may be better for you. For example, borrowers with poor credit or no credit history may have better luꦿck getting approved by Upstart, which does not require a credit score. 🃏;
Most 澳洲幸运5官方开奖结果体彩网:personal loan lenders can f🌳und a loan within a few business days, but some offer better options in an emergency than others. We evaluated 59 lenders ꦏbased on funding time, rates and fees, repayment terms, customer experience, and many other criteria to select the best emergency loans for bad credit.
Today's Top Picks
- Best Overall, Secured Loans, Flexible Repayment Terms: Upgrade
- Best for Low Minimum Credit Requirement: Upstart
- Best for Fast Funding: 澳洲幸运5官方开奖结果体彩网:LendingClub
- Also Good for Secured Loans: 澳洲幸运5官方开奖结果体彩网:Universal Credit
- Best Credit Union, Co-Borrower: 澳洲幸运5官方开奖结果体彩网:Patelco Credit Union
- Also Good with a Co-Borrower: Prosper
Why Trust Us
Best Emergency Loans for Bad Credit for June 2025
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- Best Overall, Secured Loans, Flexible Repayment Terms: Upgrade
- Best for Low Minimum Credit Requirement: Upstart
- Best for Fast Funding: 澳洲幸运5官方开奖结果体彩网:LendingClub
- Also Good for Secured Loans: 澳洲幸运5官方开奖结果体彩网:Universal Credit
- Best Credit Union, Co-Borrower: 澳洲幸运5官方开奖结果体彩网:Patelco Credit Union
- Also Good with a Co-Borrower: Prosper
Company | APR | Credit Score est. | Loan Amount | More Details |
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Best Overall, Secured Loans, Flexible Repayment Terms : Upgrade
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- APR Range: 7.99% - 35.99%
- Loan Amount: $1,000 - $50,000
- Loan Terms: 24 months - 84 months
For fair and poor credit borrowers, Upgrade offers a range of repaym𓆏ent term opti💝ons, fast funding, and a couple of ways to get a lower rate, potentially: joint applications and loans secured by collateral.
Funding within one business day
Allows co-applicants and secured loans
Wide range of repayment term options
Minimum credit score of 580
Origination fee up to 9.99%
High maximum APR
Late payment fees
Upgrade is our top emergency loan option because it offers competitive starting interest rates, fast funding, and is available to borrowers with fair credit. It also offers loan terms up to ไ84 months and the opportunity to get a secured loan (using a car as collateral). If you need help getting approved, Upgrade allows you to apply with a co-borrower.
Loan funding is fast—as soon as the day after your loan is approved—which is helpful if you’re in a bind. There’s a broad range of lo🦋an amounts, too, starting at just $1,000, so you don’t need to borrow more than you need.
All of this flexibility comes at a price. Upgrade charges an 澳洲幸运5官方开奖结果体彩网:origination fee of up to 9.99%, deducted from your initial loan proceeds, and it charges late payment fees. Interest rates top out at 35.99%, and fair and 澳洲幸运5官方开奖结果体彩网:poor credit borrowers will most likely be offered rates🐭 closer to the maximum APR than the minimum.
Upgrade is a fintech compan🍸yꦡ founded in 2017 and headquartered in San Francisco, Calif.
Additional Details
Minimum Credit Score | 580 |
Origination Fees | 1.85% to 9.99% |
Membership Requirement | None |
Available Discounts | Autopay and direct payment discounts |
Best for Low Minimum Credit Requirement : Upstart
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- APR Range: 6.60% - 35.99%
- Loan Amount: $1,000 - $50,000
- Loan Terms: 36 months - 60 months
Upstart’s minimum credit score requirement is 300, and it accepts college students and graduates with no credit history, making it a good choice for 澳洲幸运5官方开奖结果体彩网:poor credit borrowers. Funding is fast, too, which makes ♔it a good pick in an emergency.
You may qualify with poor credit or no credit
Low starting APRs
Funding the next business day
No minimum income requirement
Origination fee as high as 12%
Late payment fee
Only two repayment term options
Upstart doesn’t require a credit score to approve an application—borrowers need either a credit ⭕score or to have graduated (or currently be enrolled in) a higher education program. Upstart says its AI-based applic💮ant scoring model allows it to lend to a broader range of borrowers, with fewer defaults.
Upstart’s APRs are competitive (especially among lenders that serve fair and poor credit borrowers) on the high end of the range. Upstart’s minimum adver♒tised🐓 APR is among the very lowest of the 59 lenders we surveyed. Repayment terms are limited to three and five years, so if you need more time, you may need to consider a different lender.
Origination fees bump all the way up to 12% of the♈ borrowed amount, and late fees are charged, too.
Lending platform Up📖start was founded in 2012 and is head🌃quartered in San Mateo, California.
Additional Details
Minimum Credit Score | 300 or no credit history |
Origination Fees | 0% to 12% |
Membership Requirement | None |
Available Discounts | None |
Best for Fast Funding : LendingClub
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- APR Range: 7.90% - 35.99%
- Loan Amount: $1,000 - $40,000
- Loan Terms: 24 Months - 72 Months
LendingClub says mos𒉰t loan applications can be approved in a few hours, and the funds can be delivered to the borrower’s account shortly afte🦋r. Your funding time will depend on your situation, but you can expect loan proceeds in a few days.
Quick lending decision
Direct payment for debt consolidation
Allows co-applicants
Allows borrowers to refinance and get more cash
Origination fee of up to 8%
Late payment fee
LendingClub’s minimum recommended creditꦜ score of 660 is high for borrowers with bad credit, but you can apply with a co-borrower, which can improve y🐟our profile. With fast application decisions (within a few hours), you can have your funds the next day, or even the same day.
While we’ve called LendingClub an option for emergencies, it’s also a good choice if you’re 澳洲幸运5官方开奖结果体彩网:consolidating debt. It will pay your creditors directly, which is convenient for you 🎃and will mitigate risk for the lender. If you run into a jam later, you can refinance your loan and get more cash. LendingCub calls this a “TopU💜p” loan.
LendingClub’s rating in the J.D. Power U.S. 2024 Consumer Lending Satisfaction Study is just about average for the industry as a whole, but it ranks higher than other lenders that specialize in fair or bad credit loans.
LendingClub is an online bank that launched in 2007 and provides a full suite of banking and investme🔜nt services in addition to personal loans. It is headquartered in San Francisco, California.
Additional Details
Minimum Credit Score | 660 |
Origination Fees | 0% to 8% |
Membership Requirement | None |
Available Discounts | Debt consolidation discount |
Also Good for Secured Loans : Universal Credit
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- APR Range: 11.69% - 35.99%
- Loan Amount: $1,000 - $50,000
- Loan Terms: 36 months - 60 months
Universal Credit accepts applications from borrowers with credit scores as low as 580. If you don’t qualify for an 澳洲幸运5官方开奖结果体彩网:unsecured loan, the lender may🍨 offer you a secured loan (backed by your car).
May offer auto-secured loans
Offers a wide range of loan amounts
No minimum income requirement
High APRs
Minimum 5.25% origination fee
Limited repayment term options
Like its parent Upgrade, Universal Credit offers personal loans backed by vehicles. Offering collateral, such as a car, may help you🐬 get appro💖ved for a loan. The downside is that if you stop making payments, the lender may claim your car.
If you’re considering Universal Credit, you can check your rate and other terms through 澳洲幸运5官方开奖结果体彩网:pre-qualification without hurting your credit score. Universal Credit will pay your other creditors directly if you’re using the loan for debt consolidatio🌟n.
Investopedia encourages borrowers to shop around and that’s especially true here. Universal Credit is one of the more expensive options we surveyed, with high 🔜APRs and pricey origination fees. Take advantage of pre-qualification to see what you qualify for.
Universal Cre🧔dit is an online lending platform based in San Francisco, California, and has been offering personal loans since ⛎2020.
Additional Details
Minimum Credit Score | 580 |
Origination Fees | 5.25% to 9.99% |
Membership Requirement | None |
Available Discounts | Autopay and direct payment discounts |
Best Credit Union, Co-Borrower : Patelco Credit Union
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- APR Range: 9.30% - 17.90%
- Loan Amount: $300 - $100,000
- Loan Terms: 6 months - 84 months
Patelco is our top-rated 澳洲幸运5官方开奖结果体彩网:credit union for personal loans.🌺 Because it’s a credit union, its APRs are capped at 18% (Patelco’s maximum isಞ 17.90%). It also features flexible repayment terms, funding as soon as the same day, and co-borrowers are allowed.
Flexible loan amounts and repayment terms
Low APRs
No origination fee
Same-day funding possible
Must become a member to apply for a loan
Branches only in California
640 minimum credit score
Despite its higher 澳洲幸运5官方开奖结果体彩网:minimum credit score requirement, Patelco is our pick for the best credit union for 澳洲幸运5官方开奖结果体彩网:bad credit emergency loans because of its flexibility. It offers l♕oans as small as $300 and as large as $100,000. Loan terms are flexible, too, from as short as six months to as many as 84 months. Interest rates are competitive, and the maximum is cappeඣd at 18%.
If your credit score is below 640, you can apply with a co-borrower, which can improve you♑r chances of getting approved. Patelco offers a couple of rate discount opportunities, including a rate reduction for consistent on-time payments.
Finally, Patelco offers secured loans (backed by a savings account), and a 澳洲幸运5官方开奖结果体彩网:credit builder loan,🌳 designed to help people with lower credit scꦑores improve them.
Initially founded in 1936, Patelco has 37 branches across Northern California. While credit unions only offer perso✃nal loans to members, Patelco makes it easy for anyone to join, even people who don’t live or work in the region.
Additional Details
Minimum Credit Score | 640 |
Origination Fees | None |
Membership Requirement | Yes |
Available Discounts | Commitment discount, consistent payment discount |
Also Good with a Co-Borrower : Prosper
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- APR Range: 8.99% - 35.99%
- Loan Amount: $2,000 - $50,000
- Loan Terms: 24 months - 60 months
Prosper is a peer-to-peer lending platform and borrowers with credit scores as low ꦇas 600 can apply. Co-borrowers are allowed, and funding can be🦩 made as soon as the next day.
Joint applications
Fast funding
No minimum income requirement
Origination fee up to 9.99%
Poor J.D. Power rating
Prosper’s minimum required credit score is 600. If your score is lower than that, or if you want to try for lower rates and better terms, you can apply with a co-borrower. This makes both borrowers responsible for repaying the loan (and you both have a right to the proceeds). Pro🐬sper offers loans up to $50,000 and rates align with other bad credit lenders. Funding can be as soon as the next business day, which may be important in an emergency.
Prosper charges an origination fee of betw♍een 1% and 9.99% of the loan amount. That fee will be deducted from the loan proceeds, so plan accordingly and borrow enough to cover your needs and the origination fee. Prosper a🦹lso charges late fees.
Prosper earned a below-average score in the J.D. Power 2024 U.S. Consumer Lending Study. The study asked borrowers about their experience with personal loan lenders.
Prosper was founded in 2005 and is headquartered in San Francisco, California. Prosper is the first pee💧r-to-peer lending marketplace and has issued more than 1 million loans to borrowers.
Additional Details
Minimum Credit Score | 600 |
Origination Fees | 1% to 9.9% |
Membership Requirement | None |
Available Discounts | None |
Compare the Best Emergency Loans for Bad Credit for June 2025
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Why Trust Us
Investopedia collected and analyzed hundreds of key data points from 59 companies over three months to identify the most important factors for readers choosing an emergency loan for bad credit. We used this data to review ea🦹ch company for rates, fees, repayment terms, credit requirements, and other 🐻features. We developed this process to provide unbiased, comprehensive reviews to ensure our readers make the right decision for their needs. Investopedia launched in 1999 and has been helping readers find the best personal loans since 2015.
Common Personal Loan Terms
Understanding key terms🦋 can help you make smarter purchasing and borro🐼wing decisions.
- Annual percentage rate (APR): The 澳洲幸运5官方开奖结果体彩网:APR for a personal loan is the percentage of the principal you'll be charged in interest and origination or other fees. It's calculated by multiplying the periodic interest rate by the number of periods (monthly in most cases) in a year.
- Origination fee: Lenders sometimes charge an 澳洲幸运5官方开奖结果体彩网:origination fee to cover the cost of processing the loan application. The fee usually is charged as a percentage of the total loan amount.
- Credit score: A 澳洲幸运5官方开奖结果体彩网:cred🌜it score is ba𝐆sed on your credit history and is one way lenders measure your creditworthiness. The most common score is the FICO score, which ranges from 300 to 850. Borrowers with higher credit scores generally receive the best loan offers and terms.
- Joint application: A 澳洲幸运5官方开奖结果体彩网:co-applicant can help with loan approval by providing lenders with an additional source of income and a better credit history to consider. Once an application is approved, co-applicants become co-borrowers, giving them equal access to funds. This is in contrast to a 澳洲幸运5官方开奖结果体彩网:co-signer, who is responsible for repayment without equal access to the funds.
Cost Comparison:♓ Emergency Loan vs. Emergency Fund
An 澳洲幸运5官方开奖结果体彩网:emergency fund is a special savings account where you keep money to help you when you need it. While saving money fo🐻r emergencies ahead of time is difficult, it’s much cheaper than borrowing to pay for an emerge🐻ncy.
Let's compare the cost of building a $3,500 emergency fund to the cost of repaying a $3,500 emergency loan.
We'll assume an interest rate of 30% for the emergency loan, representing "bad" credit interest rate offers you might receive. Also, let's assume a four-year repayment term (48 months) and 澳洲幸运5官方开奖结果体彩网:use a ♉loan calculܫator to find a monthly payment of $113.24. After 48 months you will repay ♊the $3,500, plus $2,549 in interest expense for a total repayment of $6,049.
Meanwhile, instead of finding room in your budget to repay a loan, you find room to invest in a 澳洲幸运5官方开奖结果体彩网:high-yield savings account that earns 5% interest. You send that same $113.24 monthly to your emer✨gency fund savings account. After two years and six months, your account will have grown to $3,625, with $229 of that 𒈔interest you earned on $3,397 in deposits. (You can calculate your own savings goals with this .) As you can see, the savings are substantial.
Goal | Interest | Months | Out-of-Pocket | |
---|---|---|---|---|
Emergency Loan | $3,500 | $2,549 paid | 48 | $6,049 |
Emergency Fund | $3,625 | $229 earned | 30 | $3,397 |
Frequently Asked Questions
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How Can I Get Emergency Funds Immediately?
If your first priority is fast cash, 💃you have several options, although some of them w🌜ill be expensive, with high interest rates and fees.
- A personal loan from an online lender or your bank: Some online lenders can approve and 澳洲幸运5官方开奖结果体彩网:fund a loan the same day. Similarly, a bank or credit union you already have a relationship with may be able to approve and fund a loan in a day or two.
- A payday loan: Payday lenders can fund these short-term loans the same day. Interest rates and fees can be exorbitant, however, and you'll have to repay it by your next payday. You'll generally 澳洲幸运5官方开奖结果体彩网:need to provide some identific꧑ation and proof of income, as well as a checking account.
- A pawn loan: Pawnshop lenders can provide a short-term loan, secured by your property, the same day. State governments regulate rates and terms.
- A credit card cash advance: If you have a credit card, chances are it allows you to access your credit as cash. You can do this at an ATM, making this a really fast option. (You must know your card account's PIN.) Generally, you can withdraw a fraction of your credit limit, and the interest rate will be higher than the standard purchase rate. You'll also pay a fee (typically 3% to 5% of the amount borrowed).
- A cash advance app. For small loans of under a few hundred dollars, a 澳洲幸运5官方开奖结果体彩网:cash advance app can provide money nearly instantly. Some services charge fees, while others suggest voluntary tips.
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Can I Get an Emergency Loan With Bad Credit?
Yes, in fact many🃏 types of lenders offer emergency loans for bad credit, including:
- Online lenders
- Credit unions
- Traditional banks
- Credit card companies (cash advances)
- Payday lenders
- Relatives and friends
Not every lender is a good choice, and costs and terms vary. For example, 澳洲幸运5官方开奖结果体彩网:Credit card cash advances are expensive and 𒆙might damage your credit score by driving up your credit utilization ratio.
It’s also a good idea to 澳洲幸运5官方开奖结果体彩网:avoid payday loans and title loans whenever possible. The Consumer Financial Protection Bureau warns that the average two-week payday loan features a steep APR that’s equivalent to nearly 400%.
-
Are Emergency Loans Worth It?
Determining if any financial product is worth it depends on the alternatives available. If an emergency loan is your best option, it may be worth it, even if it's expensive.
A🐻n emergency personal loan for bad credit will usually come with costs and feജes typical of any personal loan—origination fees, interest, and late payment fees. But those fees are likely to be higher than a loan offered to a person with good credit and who can take some time to shop around.
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Companies We Reviewed
Investopedia researched 59 lenders to find the best emergency loan lenders you see above. While we write individual reviews for many companies, we do not always write reviews for companies we would not recommend. Below 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, 澳洲幸运5官方开奖结果体彩网:Alliant Credit Union, 澳洲幸运5官方开奖结果体彩网:American Express, Avant, Axo, Bethpage Federal Credit Union, BHG Financial, Blaze Credit Union, Blue Federal Credit Union, Boeing Employees' Credit Union, Citibank, Connexus Credit Union, Discover, ENT Credit Union, Fig Loans, 澳洲幸运5官方开奖结果体彩网:First Tech Federal Credit Union, Greenstate Credit Union, Happy Money, 澳洲幸运5官方开奖结果体彩网:Lake Michigan Credit Union, Laurel Road, 澳洲幸运5官方开奖结果体彩网:LendingClub, LendingPoint, LendingUSA, Liberty Federal Credit Union, 澳洲幸运5官方开奖结果体彩网:LightStream, Mariner, Money Key, Mountain America Credit Union, 澳洲幸运5官方开奖结果体彩网:NASA Federal Credit Union, 澳洲幸运5官方开奖结果体彩网:Navy Federal Credit Union, Netcredit, Old National Bank, OneMain, OppLoans, 澳洲幸运5官方开奖结果体彩网:Patelco Credit Union, PenFed, Personify Financial, PNC Bank, Prosper, Reach Financial, Regions, Reprise, Rocket Loans, Santander, Service Federal Credit Union, SoFi, Summit Credit Union,TD Bank, Teachers Federal Credit Union, Truist, 澳洲幸运5官方开奖结果体彩网:U.S. Bank, Universal Credit, Upgrade, Upstart, USAA, 澳洲幸运5官方开奖结果体彩网:Wells Fargo.
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What Is the Minimum Credit Score for an Emergency Loan?
Upstart, one of the lenders we researched, says it can offer loans to borrowers with credit scores as low as 300, provided there are no adverse entries in their credit histories. Other lenders we looked at require credit scores as low as 580 or 560. Those scores are considered "fair" (580) or "poor" (560).
How We Choose the Best Emergency ♉Loans for Bad Credit
To evaluate and rank personal loan providers, we collected and scored over 2,600 data points from 59 lenders, including traditional banks, credi🅰t unions, fintechs, and finance companies. We researched and evaluated 45 criteria, such as APRs, loan amounts and terms, fees, customer experience, and more. Research and data collection occurred from July 23 to October 18, 2024.
We organized th🐻e 45 criteria into four categories and weighted 26 (involving more than 1,500 data points), using the others for background and editorial richness. We then scored and weighted each criterion to develop our overall star rating for each lender. The categories and their weights for this projec꧙t are:
- Loan Costs: 30%
- Loan Terms: 22%
- Borrowing Requirements: 24%
- Lender Features: 24%
To maintain the integrity of the data following collection and analysis, Investopedia’s compliance team monitors changes to key details, like interest rates and fees. Compliance team members then update ℱour pages to ensure they are accurate as of the date on the byline.
Learn more about how we evaluate personal loans in 澳洲幸运5官方开奖结果体彩网:our complete methodology.
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Joules Garcia / Investopedia
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