BEST OF
Emergency Loans: Where to Get a Fast Loan
Emergency loans help cover unexpected expenses, like urgent car or home repairs. Compare options from online lenders and learn how to choose a safe loan.
Unsecured personal loans are one type of emergency loan that can be far less expensive and safer than other types, like payday or auto title loans. They can also be just as fast; many lenders fund loans the same day you apply.
Still, interest rates on personal loans can be high, especially if your credit isn’t strong or you already have a lot of debt. Even if you’re in a hurry, comparing lenders and other options could save you money in the long run.
Here are lenders offering emergency loans, plus tips on choosing a loan and alternatives to consider. All of these lenders assess your ability to afford the loan, a practice that reduces risk — for you and the lender.
Unsecured personal loans are one type of emergency loan that can be far less expensive and safer than other types, like payday or auto title loans. They can also be just as fast; many lenders fund loans the same day you apply.
Still, interest rates on personal loans can be high, especially if your credit isn’t strong or you already have a lot of debt. Even if you’re in a hurry, comparing lenders and other options could save you money in the long run.
Here are lenders offering emergency loans, plus tips on choosing a loan and alternatives to consider. All of these lenders assess your ability to afford the loan, a practice that reduces risk — for you and the lender.
Summary of Emergency Loans: Where to Get a Fast Loan
Lender | NerdWallet Rating | Est. APR | Min. Credit Score | Learn More |
---|---|---|---|---|
Upstart on NerdWallet's secure website | Best for Emergency loan for fair credit | 8.94 - 35.99% | 580 | on NerdWallet's secure website |
Avant on NerdWallet's secure website | Best for Emergency loan for bad credit | 9.95 - 35.99% | 550 | on NerdWallet's secure website |
OneMain Financial on NerdWallet's secure website | Best for Emergency loan for no minimum credit requirement | 18.00 - 35.99% | None | on NerdWallet's secure website |
LendingPoint on NerdWallet's secure website | Best for Emergency loans with flexible payments | 15.49 - 35.49% | 600 | on NerdWallet's secure website |
![]() Rocket Loans See my rates on NerdWallet's secure website | Best for Emergency loans for fast funding | 7.16 - 29.99% | 640 | See my rates on NerdWallet's secure website |
Best Egg on NerdWallet's secure website | Best for Emergency loans for good credit | 5.99 - 29.99% | 600 | on NerdWallet's secure website |
Oportun on Oportun 's website | Best for Emergency loans for small loan amounts | 19.90 - 35.99% | None | on Oportun 's website |
Our pick for
Emergency loan for fair credit
on NerdWallet's secure website
Upstart
Min. Credit Score
Est. APR
Loan Amount
on NerdWallet's secure website
Our pick for
Emergency loan for bad credit
on NerdWallet's secure website
Avant
Min. Credit Score
Est. APR
Loan Amount
on NerdWallet's secure website
Our pick for
Emergency loan for no minimum credit requirement
on NerdWallet's secure website
OneMain Financial
Min. Credit Score
Est. APR
Loan Amount
on NerdWallet's secure website
Our pick for
Emergency loans with flexible payments
on NerdWallet's secure website
LendingPoint

Min. Credit Score
Est. APR
Loan Amount
on NerdWallet's secure website
Our pick for
Emergency loans for fast funding

on NerdWallet's secure website
Rocket Loans

Min. Credit Score
Est. APR
Loan Amount
on NerdWallet's secure website
Our pick for
Emergency loans for good credit
on NerdWallet's secure website
Best Egg
Min. Credit Score
Est. APR
Loan Amount
on NerdWallet's secure website
Our pick for
Emergency loans for small loan amounts
on Oportun 's website
Oportun
Min. Credit Score
Est. APR
Loan Amount
on Oportun 's website
Where to get an emergency loan
Upstart
Upstart is an online lending platform that considers alternative data on an application, including where you live and went to school, in addition to credit and income information. The company says it funds 99% of loans within one business day after approval.
Avant
Avant has a low minimum credit score requirement and says it can fund a loan one business day after approval. Its annual percentage rate includes an administrative fee up to 4.75%. The company reports payments to the three major credit bureaus — Experian, Equifax and TransUnion — which can help you build credit.
» COMPARE: See your bad-credit loan options
OneMain
OneMain offers personal loans to borrowers with low credit scores, but they come with high APRs and an origination fee. The lender can fund loans quickly by check, but you have to visit a branch to complete the process.
LendingPoint
LendingPoint lends to borrowers with low credit scores and little existing debt. The company says it can fund a loan the business day after approval, but in some cases it could take longer.
Rocket Loans
Rocket Loans says 85% of borrowers get funds by the business day after an application is approved; the longest it takes is about three business days. Rocket Loans also lets borrowers pre-qualify online to see loan offers without affecting their credit score.
Best Egg
Best Egg says its application takes minutes to complete, and loans are funded one business day after approval, in some cases. Though the lender approves applicants with fair credit, the average credit score is 700, which falls in the good range on the FICO scale.
Oportun
Oportun offers small installment loans to borrowers with little or no credit history at rates that are high compared to other bad-credit lenders. It operates in only a few states and sometimes funds loans within hours, whether you apply online or in person.
How to choose an emergency loan
Funding speed: If you urgently need funds, consider a lender that offers fast funding, like Rocket Loans or Upstart. While some lenders offer same-day funding, typical funding times are two to seven days. Online lenders often disclose how long it takes, so you’ll know what to expect before applying.
Gather the required documents — such as W-2s, pay stubs and bank account statements — before you apply for a loan, and promptly answer the lender's questions to speed up the loan process.
Loan costs: Speed may seem more important than loan cost, but it’s still important to compare fees and annual percentage rates from multiple lenders. Most online lenders offer pre-qualification, which involves a soft credit check and allows you to preview your rate and term without impacting your credit score.
The loan with the lowest APR is the cheapest and usually the best choice, as long as the monthly payments are affordable. Use a personal loan calculator to estimate your total interest and monthly payments on a new loan.
Lender features: In addition to the rates and fees, consider payment options and other features. Some lenders let you choose your payment due date, forgive late fees or allow you to skip a payment if necessary. Lenders may also provide financial education on their websites.
Credit union loans for emergencies
You can also get emergency loans from a local credit union. These not-for-profit lenders are often good options for borrowers with bad credit because they consider your entire financial picture — not just your credit — and may provide lower rates and terms. Some offer short-term payday alternative loans in amounts up to $2,000.
Becoming a credit union member typically requires you to live, work or study in a particular area, or be associated with a particular group. You'll need to purchase a share in the credit union to open an account ($5 to $25).
Institutions that offer credit union loan options include PenFed Credit Union and First Tech Credit Union.
No-credit-check emergency loans
Be wary of lenders that don’t check your credit when they offer you an emergency loan. Some no-credit-check installment loans share characteristics with conventional payday and auto-title loans, including sky-high interest rates and additional fees that make the loan less affordable than you initially thought it would be.
Some online lenders, such as Rise and OppLoans, offer emergency loans and are positioned as low-cost alternatives to payday loans. However, their rates are still high, and you should consider these lenders only after you've ruled out other lower-cost options. Capital Good Fund is another no-credit-check lender that offers lower rates, but is available in only a handful of states.
Emergency loan alternatives
Cheaper alternatives to borrowing are not 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.
Get help from local nonprofits, charities and religious organizations.
Explore options to pay off medical bills, like a payment plan or income-driven hardship plan.
Ask your employer for an emergency loan or a paycheck advance, or consider using an app like Earnin.
If you are comfortable with it, ask family and friends for a loan through lending circles or a loan agreement.
Build an emergency fund
Once your emergency passes, do what you can to build an emergency fund that can help you avoid taking high-cost loans in the future.
Most financial experts recommend saving between three and six months’ worth of living expenses. If that seems like a lot, start small with savings of $10 to $20 per week. Set a goal to save at least $500, which can usually cover small emergency expenses like minor car repairs.
Last updated on October 14, 2020
Methodology
NerdWallet's ratings for personal loans award points to lenders that offer consumer-friendly features, including soft credit checks, no fees, transparency of loan rates and terms, flexible payment options, accessible customer service, reporting of payments to credit bureaus and financial education. We also consider the number of complaints filed with agencies like the Consumer Financial Protection Bureau. This methodology applies only to lenders that cap interest rates at 36%, the maximum rate financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation of any sort for our reviews.
To recap our selections...
NerdWallet's Emergency Loans: Where to Get a Fast Loan
- Upstart: Best for Emergency loan for fair credit
- Avant: Best for Emergency loan for bad credit
- OneMain Financial : Best for Emergency loan for no minimum credit requirement
- LendingPoint: Best for Emergency loans with flexible payments
- Rocket Loans: Best for Emergency loans for fast funding
- Best Egg: Best for Emergency loans for good credit
- Oportun : Best for Emergency loans for small loan amounts
Frequently asked questions
Emergency loans can be used for unexpected expenses or large purchases 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.
Small businesses and self-employed workers affected by the 2020 coronavirus crisis have two emergency loan options under the CARES Act. The loans are issued by SBA-approved lenders.