Best Online Emergency Loans for Bad Credit

Emergencies never knock on your door before coming, they can come anytime. You can face medical emergencies or a storm can destroy some part of your house. You should always have at least $5,000 in your emergency funds to meet any such emergencies. Though reports say that 43% of Americans don’t even have $1000 in their emergency funds. If you don’t have money in your emergency funds then emergency loans could be the best help for you. 

You can get a loan from a bank as well, but their long procedure and paperwork can be tiring. So, here we will tell you about some emergency loans where you can get the loan immediately while sitting at your home, just with the help of your laptop and internet. 

Where to Get Emergency Loans From? 

Need urgent cash- get emergency loans

If you want to apply for online emergency loans, then follow our list. We will tell you about the best emergency loans for bad credit. Here, we have compared the best available emergency loan lenders with their pros and cons.

1. PersonalLoans

personalloans

Instead of being a direct lender, PersonalLoans act as a link between lenders and borrowers. It has profiles of many lenders who provide emergency loans in different states. You can look at the various lenders and choose the one that works best for you. Here you have various options of lenders. 

Pros

  • Approves the loan in minutes and deposits the money within the next business day. 
  • You can get emergency loans from $500 to $35,000.
  • If you have taken a personal loan, you can repay it within 3 months to 72 months depending upon the loan amount. 
  • Provides loans for bad credit also. 

Cons 

  • Higher interest rates than the other available options.
  • Not a direct lender.

2. LendUp

lendup

LendUp is especially known for its short-term loans. It provides short-term loans to its borrowers, in case they need emergency loans for some temporary financial issues. LendUp is a direct lender. 

Pros

  • Works like payday loans.
  • Provides loans for $100 to $255.
  • Provides a special bonus to borrowers who repay the loan on time.
  • Quick approval and deposit. 

Cons

  • Provides small amount loans.
  • Doesn’t help in building credit.

3. CashUSA

cashusa

CashUSA is especially known for providing emergency loans to people with bad credit. This also connects the borrowers to the lenders. You can select any lender whose terms and conditions you like. If you need to cover unexpected expenses then you can apply for an emergency loan at CashUSA.

Pros

  • You can get a loan from $500 to $10,000.
  • The repayment time is 3 months to 72 weeks depending upon the loan amount. 
  • Provides loans for bad credit.
  • Immediate loan approval and money deposit within one day. 

Cons

  • Not direct lenders.
  • Might disclose your information to other marketers.

4. OppLoans

opploans

OppLoans are best known for their installment loans. You can get emergency loans from OppLoans and then repay them in installments. They’re also known for their fast loan approval and quick money deposits. 

Pros

  • You can get a loan from $1000 to $4000.
  • Quick loan approval and money deposit.
  • Repayment time for emergency loans is up to 36 months depending upon the loan amount and state. 
  • Helps in covering unexpected expenses.

Cons

  • Less loan amount as compared to other competitors
  • OppLoans is not available in all states.

5. Avant

avant

Avant is best known for its big loan amounts. It provides emergency loans of up to $35,000.  They’re direct lenders so there is no involvement of the third party. It provides loans to Americans who are of 18 years or above. 

Pros

  • Provides loans from $2000 to $35,000.
  • Repayment time of 24 to 36 months depending upon the loan amount and state.
  • Quick loan approval and money deposit.
  • APR from 9% to 35%.

Cons

  • An origination fee may be charged.
  • Income documentation may be required.

6. BadCredit

badcredit

As the name suggests, it’s known for providing loans to people who have bad credit. BadCredit also acts as a link between lender and borrower, it has verified profiles of various direct lenders who can provide emergency loans with bad credit. Some lenders also provide same-day loans. 

Pros

  • Provides a loan from $1000 to $5000.
  • Repayment time of 6 months to 60 months for personal loans, depending upon the loan amount and state you’re living in.
  • Quick loan approval.
  • Fast money deposit.

Cons

  • Not a direct lender.
  • Some extra charges might be there, depending upon the state. 

Can We Get Online Emergency Loans From Somewhere Else As Well?

Yes. If you don’t want to take any emergency loans from the above options then you can look for online direct lenders. There are many direct lenders available online which provide emergency loans even if you have bad credit. The only problem with their lenders is their reliability. There are chances of fraud. So, before going for any particular direct lender, read their terms and conditions carefully. Check their ratings and reviews from previous customers as well. If things seem to be too good to be true, don’t go for it. Though you’ll easily get an emergency loan from a direct lender, the risk factor is high. 

Final Words

In emergency situations, it’s better to go for emergency loan lenders instead of banks. Though banks have low-interest rates and more security, their procedure takes days to complete. And if you’re looking for emergency loans then we assume that you need the money immediately

You can choose any of the above options for emergency loans or you can also go for an online direct lender. Though in the case of online direct lenders, you need to be more cautious. Read all their terms and conditions properly. Also, check their ratings and reviews from previous customers. 

Frequently Asked Questions

Q1: Where can I borrow money immediately?

If you want to borrow money immediately then you can go to any of the above-mentioned money lenders. They all provide money within a few business days. You can also go for online direct lenders, but you’ll have to do your own research for it.

Q2: Do emergency loans hurt credit?

If you repay the loan on time then no. Otherwise, also, some emergency loans may help you improve your credit whereas some might not. But if you repay the loan on time then it won’t hurt your credit.

Q3: What is emergency cash advance?

These are the services that provide people with emergency loans whenever they need some money. There are many emergency cash advance apps and service providers which help people with emergency cash. 

Leave a Comment