4 Best Emergency Loans For Bad Credit [2021]: Top Websites For Instant Payday Loans Guaranteed Approval



Are you looking for an emergency loan with a bad credit history? Regardless of how well you budget for your expenses, emergencies happen.

For example, it could be your car breaking down or your house needing significant repairs. Alternatively, it could be that your health insurance does not cover all your medical treatment costs.

Such unforeseen events can often push you to find quick solutions, although a bad credit record can make the process less straightforward in these circumstances.

An emergency loan is a type of loan granted immediately, usually on the same day. In some cases, it may take up to two days. Emergency loan service providers aim to offer quick access to money to borrowers for unexpected expenses, rent, and mortgage payments, medical bill, funeral expenses, home, and car repairs, and utilities.

However, the challenge of accessing an emergency loan with a bad credit history is a complex process. A poor record of paying off your debts or financial instability can make an already challenging process even more complex.

Typically, a bad credit record means you get fewer loan options, and most providers require you to have a guarantor. Also, there is the risk of running into fraudulent providers that take advantage of your situation and charge you high-interest rates.

We analyzed a variety of loan service platforms and compiled a list of the four best emergency loans with bad credit service providers that can come in handy in your hour of need.

Essentially, these platforms use other criteria to evaluate your eligibility besides your credit history. Some of the factors considered include your average income, total expenditure from your total income, and overall budget discipline.

This article recommends the four best service providers with flexible requirements and favorable terms for individuals with a bad credit record.

Top Sites For Best Emergency Loans with Bad Credit Score

  1. Money Mutual – Better Alternative for Payday loans

MoneyMutual.com is one of the leading online platforms that connect potential borrowers with potential loan lenders for an emergency loan. The brand has over 2 million users.

Moreover, MoneyMutual connects you to a network of 60 unique local short-term lenders to fix bad credit, pay on installments, and payday loans, which range between $200 and $2500.

Once you fill out a form requiring your personal details, MoneyMutual lets you get quick loan offers from its network of registered lenders.

You can start the loan approval process by logging onto the MoneyMutual website. Here, MoneyMutual searches through its network of 60 short-term lenders and connects you to the most relevant lending company based on your unique needs.

Next, you are redirected to the lender’s website, and they set you up with a potential loan agreement.

To be eligible for MoneyMutual’s service, you should:

  • Be at least 18 years old
  • Be a US resident
  • Have a proven regular source of income
  • Own a valid checking account

MoneyMutual’s process is designed in a way that allows you to make a final decision on whether or not you accept the loan offered after reviewing the terms and conditions.

But, it is important to know that MoneyMutual does not determine the loan amount, interest rate, APR rate, etc. Instead, the lender provides these details.

So, always make a point of going through the T&Cs carefully before signing.


Fees and Costs: Being an intermediary, you can be excused if you believe that MoneyMutual.com charges a fee for using the platform. However, the opposite is true, as MoneyMutual.com offers a free service to borrowers. The platform’s financial model is based on charging the lenders on its network instead.

When it comes to loan rates, the approximate APR ranges from 5.99% to 24.99%. With MoneyMutual, you do not incur origination fees when applying for a loan. Again, this is because MoneyMutual only plays the role of a middle person. Regardless, each lender on the network has set terms and conditions regarding the loan application and approval process. Similarly, the interest rates on these loans vary from one lender to another.

Customer Protection: MoneyMutual is committed to ensuring its borrowers are protected from any kind of fraud. Additionally, the company is a member of the Online Lenders Alliance, whose membership comprises legitimate lenders who do everything by the book.

Furthermore, MoneyMutual thoroughly vets each of its lenders’ records for malpractices or problematic agreements.


  • Free Service
  • A simple loan approval process
  • Loan offers are received by users within minutes/hours
  • Fast loan disbursement time
  • Online resource center for educational content


  • No defense against loan problems once an agreement is in place
  • Unavailability of some loan options depending on your state

⇒ Visit the official website of Money Mutual

2. BadCreditLoans – Quick Loans for Your Bad Credit Score


BadCreditLoans is an online platform that helps individuals with bad credit access emergency loans from lenders. This platform has a range of loan options available, including:

  • Personal loans
  • Business loans
  • Car loans
  • Student loans
  • Home mortgage loans
  • Credit card consolidation loans

This platform can also help you get loans as low as $500 and as high as $10,000. The APR varies between 5.99% and 35.99%. The loan terms on the platform have a 90-day minimum repayment period and a maximum of 72 months (6 years). Nonetheless, a key factor to consider is that BadCreditLoans is suitable for small loans.

Note that BadCreditLoans is not a direct lender. Instead, the platform plays the role of a facilitator between the lender and the borrower. To be eligible, you need to:

  • Be a US resident
  • Be 18 years or older
  • Have a valid checking account
  • Have proof of regular income

BadCreditLoans works by using the personal and financial information you provide during the loan application process to sound out lenders about your request.

Regardless of whether you have an excellent or poor credit history, the platform connects you with a lender that matches the data you provide. Once an offer comes through, BadCreditLoans takes a back seat and lets you negotiate directly with the lender.


24/7 Availability: BadCreditLoans service is available round the clock for borrowers who are looking to get emergency loans with bad credit. You can submit a loan request at any time you need it from anywhere. Furthermore, the platform employs high-level data encryption to ensure all your personal information is secure at all times. So when you need an emergency loan with a bad credit history, BadCreditLoans is like that superhero who gives you a helping hand when you really need it.

E-Consent: To finalize the loan approval process, you are expected to sign a binding agreement with the lender after reviewing and accepting the proposed terms and conditions. BadCreditLoans makes this process seamless by providing an e-consent option. Basically, this is a legally binding electronic consent form that eliminates the need to go to a physical office to complete the signing of the agreement.


  • Contact multiple lenders with one application
  • Dedicated to individuals with a bad credit score
  • Easy-to-use user interface
  • Educational Resources


  • Requires a considerable amount of personal and financial data upfront during application

⇒ Visit the official website of Bad Credit Loans

3. Cash USA – Most Vigilant Website For Instant Loans


Cash USA is a lending network that allows thousands of users to submit emergency loan requests of between $500 and $10,000. The platform subsequently shares the requests with its large pool of partner lenders who make a prequalification assessment within seconds.

If your prequalification assessment is successful, you can then proceed to finalize your application. Typically, the loan is disbursed into your account within one business day. Cash USA’s APR ranges between 5.99% and 35.99% based on the lender’s state and your credit score.

The loan application process, which takes about 5 minutes, starts with submitting your personal information such as zip code, date of birth, and social security number. Other information you need to provide includes whether you are on active military duty and your credit score range. Even with a poor credit score (below 579), Cash USA can still help you find a lender.

To avoid confusion, Cash USA is not a direct lender, just like the other platforms that offer emergency loans with bad credit that we have reviewed above. Cash USA’s partners use automated underwriting software to review your loan application, after which you receive a loan offer from Cash USA’s lending partners.

Apart from the loan application process, the platform also gives you access to a variety of finance-related resources, such as debt calculation tips, picking a financial advisor, to name a few.


Timely Disbursement of Funds and Convenient Repayment terms: Once you review and accept an offer from a lender, Cash USA facilitates the deposit of fast funding into your account through an electronic wire transfer. Typically, this takes about one business day.

Similarly, the lender can withdraw directly from the same account on the agreed repayment date for repayments. A unique aspect of Cash USA’s lenders is that you can get an extension to safeguard your credit score from being negatively impacted by late repayments.

Simple Loan Application Process: Cash USA’s loan request process is quick, easy, and delivers several offers to you within minutes. Once you submit the filled form, Cash USA gets to work and helps you complete the process at the tip of your fingertips with its e-consent capability.


  • Available in all 50 states
  • Free to use platform
  • An established record of reliability and efficiency
  • Friendly and easily accessible customer service
  • An extensive network of loan providers
  • Online resource center with educational content on finance-related topics


  • Limited to small loan applicants
  • Lack of information on which lenders evaluate your loan request

⇒ Visit the official website of CashUSA

4. Personal Loans – Best Interest Rates on Personal Loans


Personal Loans has a reputable platform for users to access emergency loans with bad credit ranging from $1000 to $35,000. The platform acts as an intermediary between borrowers and its network of lending partners.

Their commitment to providing a secure and regulated marketplace for borrowers is demonstrated by their membership to the Online Lenders Alliance.

Loan options available on Personal Loans are:

  • Peer-to-peer loans
  • Personal installment loans
  • Bank personal loans

Eligibility requirements vary based on the type of loan you need. However, the standard requirements include:

  • Age and residency status
  • Proof of a source of income
  • A valid checking account
  • A credit score of at least 580

If you get a loan from one of the platform’s lenders, the minimum Annual Percentage Rate (APR) is 5.99%, while the maximum stands at 35.99%. The interest earned on any loan differs from lender to lender, while the typical loan term is between 90 days and 72 months.

Like the other platforms listed in this review, you receive a loan offer within minutes of submitting the loan application form.


Flexibility: One of Personal Loans’ strong points is the flexibility of their lending period. Ranging between 90 days and 72 months, loans from this platform give users adequate room to service their borrowed funds. Moreover, it does not matter whether you are repaying a short or long-term loan.

However, it is important to reiterate that the platform does not offer direct loans to users. Usually, the agreement is between you and the lender. However, if any issues arise regarding your loan term, Personal Loans can’t intervene on your behalf since their role is limited to only facilitating the transaction.

Ease of Access to Loans: Personal Loans perform strongly in this category since they have various options that work for different types of clients. For example, for peer-to-peer and personal installment loans, the minimum monthly income, which is eligible for an emergency loan from this platform, is $2000.

On the other hand, you need to earn at least $3,000 per month to qualify for personal bank loans. What’s more, the portal can help you secure a loan anywhere across the U.S.


  • Secure a loan with a credit score of as low as 580
  • Swift and simplified online application process
  • Fast disbursement of funds
  • Low APR for those that have qualifications for the best rates
  • No limits on how to spend the funds borrowed
  • Access to loans from different types of lenders


  • Higher monthly income requirements compared to other platforms
  • High APR for individuals with a bad credit score

⇒ Visit the official website of Personal Loans

How We Made This List Of Online Emergency Loans?

To recommend the best emergency loans for people with bad credit, we analyzed several US-based personal loans offered by online lenders. Some of these companies had high interest rates, while others had sketchy terms.

After extensive research, we combined a few factors altogether. These factors are summed up to build a perfect criterion for brand selection.

What We Looked For

  • Flexible Terms: Every provider offers more than a single financing option that you can tailor depending on your monthly budget and the payback duration.
  • Fixed-Rate APR: When it comes to personal loans, variable rates can shift up or down until you pay off what you owe. However, a fixed APR allows you to lock in an interest rate for the lifetime of your loan. This means that your monthly payment will be fixed, which makes it easier to budget for your monthly payments effectively.
  • Simple Application Process: We considered whether the lender extended same-day approval and a quick online application process.
  • Lender Payment and Loan Limits: The lenders we selected as the best emergency loans for bad credit provide different loan sizes. We ensured that each lender on the list has transparent payment limits and loan sizes. Furthermore, we made sure that the providers give you an accurate picture of your interest rate and monthly deposits for a given loan amount once you complete the pre-approval procedure.
  • Loan Disbursement: The emergency loan providers on our list send out funds instantly through an electronic wire transfer or a checking account.
  • Customer Service: Each of the four emergency loan service providers we recommend offers customer support through telephone, email, or secure online chat. We also favored lenders with an online knowledge hub where you can access critical information to learn more about emergency loans with bad credit. We also made sure that the online resource center focused on the emergency loan process and offered content on how to manage your finances.
  • Service Charges: We also took into account whether the recommended service providers charge a fee or not for their services. The four best emergency loans with bad credit service providers we chose offer a free service. Any additional charges you may incur, such as transaction processing fees and commencement fees, are subject to an agreement with the lender.

However, it is essential to note that the fee structures are subject to change in line with the set Federal rate. Nonetheless, the fixed-rate APR ensures interest rates and monthly deposits do not change.

Key Things to Consider When Getting an Emergency Loan with Bad Credit Score History

If you find yourself in a financial fix, the natural instinct is to get a loan. But, things can be complicated if you have a bad credit history.

If you are looking for an online lender to extend you an emergency loan with bad credit, you need to keep all the below-mentioned factors in mind.

Check Eligibility Requirements

Depending on your credit record, one personal loan type may be more suitable for your needs than another. Although your credit score may be low, some lenders offer short-term emergency loans with better terms than taking payday loans.

Apart from the credit record, consider other loan application eligibility requirements set by lenders, such as:

  • Minimum income limit
  • Occupation
  • Residence
  • Social security number obligation
  • Possession of a valid checking account

Eligibility requirements aside, ensure you have backup options such as assets you can liquidate in case you cannot repay your personal loan.

Read the Terms and Conditions Carefully

You will receive a loan agreement once your request has been approved by a lender from the platform’s network. The personal loan agreement comes with the standard terms and conditions.

Read through every single detail of the agreement and ensure you understand it before accepting the offer. This is the only way to ensure you borrow from a lender that offers you the most suitable and favorable terms.

The interest rate offered is one of the most crucial considerations in this case. Therefore, you should be looking to find the most affordable interest rate. Also, beware of some bad lenders that offer fixed rates instead of variable ones.

Variable rates are better than fixed ones because they adjust according to the Federal index rate.

Compare Offers

If you plan to get an emergency loan with bad credit from an online lender, dedicate time to comparing the loan offers you receive once you submit an application. Compare terms and conditions, interest rates, APR, repayment requirements, and the loan terms from one lender to another.

This ensures you pick the lender with the most favorable terms for your financial position.

Another thing to keep in mind is that you will be a target of predatory lenders when you are looking for an emergency loan with bad credit. This means that you will be offered loans with no credit check but with ridiculously high APRs.

Avoid payday loans and car title personal loans, commonly referred to as cash advances, by all means. They represent the most prevalent scams or predatory loans that target borrowers with bad credit score.

Check for Applicable Additional Charges

For some personal loans, you may discover other applicable charges such as:

  • Commencement fee
  • Payment in advance charges
  • Late payment penalty
  • Bounced check fees
  • Processing fees

Depending on the lender you choose, you may incur these additional fees or not. Regardless, chargeable fees often range between 1% and 6% of the total amount borrowed.

Therefore, it’s advisable to evaluate which additional charges apply to your loan and how they vary from lender to lender and state to state.

FAQs About Emergency & Instant Loans

Q. How Do I Apply for an Emergency Loan with Bad Credit?

Every online lender proposes different terms to facilitate the approval of a request for an emergency loan with bad credit. Nonetheless, the standard requirements across most providers are:

  • Your credit score
  • Proof of employment
  • Government-issued ID
  • A Social Security Number
  • A Valid Checking Account

Q. What Emergency Loan Options Can I Get with Bad Credit?

Most online lenders offer emergency loans from as low as $200 to as high as $35,000, your bad credit history notwithstanding. But, you are likely to be charged slightly higher interest rates than someone with a good credit rating.

The types of emergency loans you can access with bad credit include:

  • Payday loans
  • Personal loans
  • Credit card cash advances
  • Student loans
  • Home loans
  • Auto loans
  • Business loans

It’s advisable to go for a smaller loan because it increases the chances of getting approval. At the same time, the interest rates will be lower, which means it will be easier to repay.

Q. How Do Emergency loans with Bad Credit Work?

Emergency loans with bad credit are installment loans serviced at a fixed rate of agreed deposits based on a consistent schedule. They are given loans like a car loan or a fixed-rate mortgage.

Q. What is the difference between a Secured Loan and an Unsecured Emergency Loan with Bad Credit?

To get a secured emergency loan with bad credit, you need to provide collateral, e.g., your car, house, or any relevant valuables. If you default on your repayments, the lender can repossess the asset you provided as collateral. Typically, secured emergency loans with bad credit are large since the lender is expected to match the collateral value. In addition, if you have a bad credit record, your loan approval chances are higher because this type is less risky for lenders.

Unsecured emergency loans do not require collateral. The absence of collateral means that lenders often charge higher interest rates, especially if you have a poor credit history. Apart from being more costly than secured loans, unsecured emergency loans with bad credit come with limited borrowing options.

Q. Is an Emergency Loan with Bad Credit Safe?

The cardinal rule for getting an emergency loan with bad credit is to carry out a background check on your lender. Some of the steps you can take include:

  • Go through the lender’s Google Reviews
  • Review the lender’s BBB rating
  • Carefully assess payment requirements

Remember, when borrowing from specific lenders, the loan may be subject to additional charges such as origination fee and transaction processing costs. Always ensure that all the extra charges are displayed and explained clearly to you. It is within your rights to ask questions.

Q. How Do I Know a Lender is Not Legitimate?

Legitimate lenders require you to apply before you receive any funds. Some of the red flags you can look out for include:

The lender does not review your credit history

Whether you have a good or bad credit score, lenders typically verify and confirm the personal and financial data you provide during the application process before you receive an offer. Failure to carry out, at the minimum, a soft credit pull should be cause for concern. You are better served by looking for an alternative lender.

The provider is not a registered lender in your state

For a lender or broker to extend an emergency loan with bad credit to you, their operations must be registered in your state. You can verify this by placing a call to the financial regulator in your state or checking their website

The lender asks you to wire money upfront

If you encounter a lender that charges you upfront, you are likely to be scammed. Reputable lenders do not ask you to wire any kind of advance payment to finalize the personal loan processing. So, be sure not to send any lender money upfront.

Q. How do Lenders Choose Whom to Lend to?

Every lender has a set of criteria for vetting and determining successful applications. The procedure is referred to as underwriting. Key considerations include your:

  • Credit history
  • Debt-to-income ratio
  • Expenses

Q. How Do Lenders Determine Interest Rates?

Simply stated, interest rates are directly proportional to the risk involved. Therefore, lenders often calculate the risk of your failure to pay off your personal loan. The lower the risk, the lower the interest rate your interest rate will be. Lenders also seek profitability from the loans they offer. Therefore, interest rates often consider the cost of the risk and the cost of servicing the loan.

Q. What is the Difference Between Interest Rate and APR?

The interest rate is the cost you incur for borrowing money. It does not include any additional costs that the lender may charge. APR is a rate that includes all fees to help you compare offers from lenders who may charge varying fees for their funds.


Weather changes putting a dent in your plans is not something you can anticipate in advance. But, make no mistake; this is not the only untimely event you may need to resolve. Everyone is at risk of an unforeseen event disrupting their budget and requiring them to identify ways to raise more cash to resolve the problem.

However, poor credit history means fewer loan options, approval challenges, and high-interest rates. Online lending platforms have been a timely introduction for users when borrowing emergency loans with a bad credit score. Unlike all the paperwork you need to do for traditional emergency loans, applying online is as easy as it can get. You simply visit a platform that has a network of lenders. You can compare offers from different personal loan providers and pick the most suitable offer for your needs and credit status with a single application.

Out of the 4 top lending platforms we reviewed, using MoneyMutual not only gives you access to quick emergency loans but will also set you on the road to improving your credit record. Even with your minimum credit score, they will offer the maximum they can. This aspect is down to the platform’s network of lenders reporting your loan repayments to the Credit Bureau.



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