Housing ReliefAn emergency loan is a personal loan that can front you the necessary cash to pay for utility bills, rent or mortgage payments, car or home repairs, funeral expenses, medical bills, and more. And since such emergencies vary greatly in their costs, you’ll be glad to know that emergency loans range from $1,000 to $100,000 to cover your needs.
Here are nine of the best emergency loans on the market. Before officially applying for any, see if the lenders offer prequalification so you can shop around without taking a small ding to your credit. Many emergency loan lenders offer that option.
LendingClub
With a 600 credit score, you could get an emergency loan from LendingClub for between $1,000 and $40,000. APRs sit in the 7.04% to 35.89% range, and you’ll have three or five years to repay the loan.
Co-applicants are accepted, but watch out for origination and late fees.
Marcus
Marcus offers personal loans between $3,500 and $40,000 with APRs in the 6.99% and 19.99% range that can be used for emergencies. Terms are three to six years, and there are no origination, prepayment, late, or insufficient funds fees. You can also change your loan’s due date up to three times.
Marcus does not accept co-applicants, and its funding is a bit slower than other lenders at one to four days.
Avant
Do you have at least a 580 credit score? Then you could get an emergency loan via Avant for $2,000 to $35,000 with 9.95%-35.99% APR. You’ll have 24 to 60 months to repay the loan, but there is a 4.75% administrative fee.
SoFi
This lender offers personal loans for emergencies between $5,000 and $100,000 with 5.74% to 21.28% APR. You can get funds within two days, but you’ll need a 680 credit score, and no co-signers are accepted.
Upgrade
A 580 credit score will suffice here, and you could get a 5.94%-35.97% APR loan between $1,000 and $35,000. Watch out for an up to 8% origination fee, plus late and insufficient funds fees.
Upstart
With a 600 credit score, you could get between a $1,000 and $50,000 emergency loan from Upstart. APRs are 5.22% to 35.99%, and the origination fee goes up to 8%.
You will have three to five years to repay the loan. No co-signers are accepted.
LightStream
A $5,000 to $100,000 emergency loan from LightStream is possible if you have a 660 credit score. APRs range from 3.49% to 19.99%.
LightStream is popular for its quick approval and funding process, plus its lack of fees and low rates. Unfortunately, LightStream does not have a prequalification process.
Prosper
Emergency loans from $2,000 to $40,000 with 7.95%-35.9% APR are available from this lender for those with at least a 600 credit score. Funding takes about three days, and terms are three or five years. Prosper charges origination and late fees.
Rocket Loans
You could get a $2,000 to $45,000 emergency loan from Rocket Loans with a minimum 580 credit score. APRs are between 5.97% and 29.99%, with same-day approval and funding.
Co-signers and co-applicants are not accepted, and Rocket Loans charges origination, insufficient funds, and late fees.
