There are many ways financial emergencies can show up in your life. Your car may develop a strange fault, and you need lots of cash to fix it. You may lose your job or have urgent medical bills to pay for yourself or a loved one. If you are faced with any of these situations and don’t have enough cash stashed somewhere, an emergency loan may be the only way out.
A bad credit score is why most financial institutions boycott your loan requests. Fortunately, a crop of lenders in the industry specialize in providing emergency loans for bad credit. With this type of loan, you can receive cash within 24 hours to solve all of your financial emergencies. Like every other loan type, this loan comes with interest rates and special terms and conditions.
We have researched on your behalf and identified the best emergency loans for poor credit companies. Read this article to the very end to find the one that best suits your current financial situation.
Our Top 5 Picks For Best Emergency Loans Of 2022
Money MutualBest Overall For Urgent Loans For Bad Credit, Editor’s Pick
Bad Credit LoansBest For Emergency Same Day Loans Bad Credit
RadCredBest For Urgent Loans No Credit Check
CashUsaBest For Emergency Loans For Unemployed Individuals
PersonalLoansBest For Urgent Same Day Loans No Credit Check Direct Lenders
Deep dive into the detailed information about these top rated and mostly recommended emergency loans for bad credit.
#1. Money Mutual – Best Overall For Urgent Loans For Bad Credit, Editor’s Pick
MoneyMutual is a reliable third-party platform that connects borrowers to potential borrowers. They do not provide the actual loan to customers.
The company came into existence in 2010 and has since helped more than two million Americans secure emergency loans for bad credit when needed.
These loans have helped people pay for car repairs, medical bills, mortgages, and more.
On the platform, you can receive up to $5000 to solve your urgent financial problems. However, current statistics on the official website suggest that loans ranging from $1000 to $2000 are more accessible and readily available.
If your application pulls through, you can expect to receive the loan amount in your bank account within 24 hrs, depending on your bank and the lender.
To begin your loan application, you must have a consistent income of at least $800. Lenders on the MoneyMutual network do not discriminate among borrowers. They give everyone a chance, including those with a bad credit history. So, it does matter your current no credit check loans score, and there’s a chance that you’ll find a lender on the MoneyMutual platform willing to work with you.
If you wish to visit the company’s office, you can find them in Las Vegas, Nevada (check the official website for more details). Similarly, you can use the information in the “contact us” section of the website to reach them for further clarification.
Furthermore, details about the brand on the Better Business Bureau website are not exhaustive. However, there are some impressive reviews about the brand on sites like Trustpilot, ConsumerAffairs, and more. You must note that lenders on the MoneyMutual platform have terms and conditions of service, but they are flexible, and you stand a great chance with them.
Simple and Fast Loan Procedure: As stated earlier, if you meet the loan requirements, you can expect to get the loan amount in your verified bank account in as little as 24 hours. MoneyMutual primarily works with lenders that thrive when providing short-term loans to their customers.
Based on the details provided on the website, you can begin the loan application journey by completing the preset “three-step” process on the website. First, you must fill out the website’s secure loan application form. MoneyMutual will send this application to its extensive network of lenders for consideration. Next, if any lender finds your profile attractive and compelling, they’ll contact you directly to present their loan offer to you (Yes, MoneyMutual will provide them with your contact details). In most cases, you may be redirected to the lender’s website.
Lastly, if the loan offer meets your expectations, you can proceed to sign the contract. The lender may contact you to confirm your account details before sending the loan amount.
Extensive Network of Lenders: MoneyMutual has hundreds of willing lenders in its network, thanks to its unquestionable reputation. In addition, you can access more than 50 lenders simultaneously if you turn in your application at the right time. With these many lenders, your chances of getting a bad credit loan increase significantly. Furthermore, it means you will receive the loan amount fast since many options exist.
It is free to use the MoneyMutual website, but the company may receive a commission when you finally get a lender to work with you.
Flexible Lenders: It doesn’t matter who the lender is; your credit score will always be a factor. However, you can rest assured that when you turn in a loan application through MoneyMutual, the lender will focus on other criteria that will improve your chances of getting the loan.
The lender will consider your monthly income when reviewing your application. However, you must know that MoneyMutual does not guarantee that a lender will overlook your credit score. Based on Customer experience, the lenders on the platform will do their best to find other requirements you meet and use that as a basis to give you a loan. If your credit score is the only red flag, you stand a great chance of securing a loan on MoneyMutual.
Ensure you read through loan offers carefully before agreeing to take them.
No hidden charges: You won’t have to deal with surprise deductions when you take loans from lenders on MoneyMutual. However, we recommend that you take your time to read through the loan offer before you sign it so that you won’t have to contend with unwanted situations later in the future.
- Loans for people with bad credit history
- Finance-related educational resources for beginners
- Hundreds of potential bad credit lenders
- You may receive the loan amount in a little as 24 hours
- Quick personal loan process
- No hidden fees
- A simple 3-step approval process
- The website doesn’t protect customers during negotiations
- Local laws may control loans.
#2. Bad Credit Loans – Best For Emergency Same Day Loans Bad Credit
Bad Credit Loans work in a similar way to MoneyMutual. It is a credible platform where borrowers with bad credit find lenders willing to offer them loans despite their financial situation. So do not go to their website expecting to receive the loan amount from them directly.
That said, the company represents an easy route for you to reach hundreds of lenders willing to give your application a chance. You can access emergency personal loans that will help you solve pressing financial problems through them. People with different credit histories are welcome to give the platform a try.
Bad Credit Loans began its journey in the online lending industry several years ago. The company works with an extensive network of payday lending state statutes institutions and unions that cuts across state and tribal lenders.
The website indicates that tribal lenders may offer higher loan rates. However, this is not the same with state lenders. Therefore, the tribal lenders you will find on Bad Credit Loans are very flexible. It gives borrowers like you a more comprehensive range of choices to make. You can compare loans if you are lucky to get loan offers from multiple lenders.
State Lenders operate under the laws of the states where they belong. It means that people from other states of the country may not benefit from the loan facility they have on offer.
The above situation ensures that you are not obligated to accept any loan offer. If the terms don’t sit well with you, you simply move on to the next lender.
It is free to use the Bad Credit Loans website. As long as you meet the minimum requirements, you can receive up to $10000. The released funds should get to your bank account within 24hrs or a few days, depending on your bank protocols.
Do not sign up for a loan from a lender with terms you know you can fulfill. Read through the documents carefully you put pen to paper.
Bad Credit Loans has some great reviews on TrustPilot. They have almost zero unresolved queries, and most customers have nice things to say about them.
State and Tribal Lenders: Online lenders in the United States operate under strict laws. As a result, some states do not permit the activities of online lenders.
Fortunately, you will find lenders from all walks of life and locations on the Bad Credit Loans platform. As a result, you do not have state laws and restrictions. If a lender cannot work in your Locality, you can simply move on to the next one that can.
Furthermore, the lenders on the Bad Credit Loans website are independent; the company does not influence their decision-making process.
Easy Loan Application Process: You can begin the process of sourcing emergency funds by completing the Bad Credit Loans application form.
If your application is appealing enough, there may be lenders that will contact you instantly or within minutes.
You’ll find the basic requirements for filling out the form boldly displayed on the official website. You can contact customer support through the available contact channels for further clarification on the requirements. In addition, the information you get will help make the form-filling process easier.
Bad Credit Loans share your contact details with lenders that indicate interest in working with you. They’ll need this information to present you with a loan offer. Also, they’ll have a means of reaching you during the loan tenure.
Carefully examine the terms on offer when you are negotiating with lenders. This is particularly important if you have poor credit. Lenders tend to give people with bad credit different loan terms and conditions.
Bonus Services: Bad Credit Loans is more than a loan marketplace for lenders and borrowers. According to the website, the company is involved in other charity causes.
In addition, they offer educational resources on finance and budget to help their customers learn more about finances and how to manage them properly. Also, you will have resources that will introduce you to new ways to detect online financial scams.
Lastly, the website runs a blog section that features recent and well-written finance articles. This resource will teach you more about loans and managing them better.
Bad Credit Loan facility: As the name suggests, lenders on the Bad Credit Loans website bend backward to help people with poor credit get loans.
These lenders are aware that emergencies do not respect anyone. They can happen to anybody. Hence they are willing to help people by giving them a chance at redemption.
To ensure that everyone has a chance at getting a payday loan protection , Bad Credit Loans tries to work with Lenders that have a history of giving out poor credit loans.
Note that your credit history and score will determine the rates you are offered, irrespective of the credit screening process. Therefore, you may find the terms and rates may be stricter.
- A simple loan approval process
- An extensive network of lenders, including state and tribal lenders
- Educational resources on finance and budgeting
- Payday loans for bad credit
- Flexible credit check process
- Lots of loans to compare
- Lenders determine loan rates and terms
- The company leaves the process as soon as your application is accepted
#3. Rad Cred – Best For Urgent Loans No Credit Check
Whenever you need urgent funds, there are several options to consider, but none is as easy as what you’d find on Rad Cred.
Besides being a reputable loan marketplace, the lenders are Rad Cred offers personal loans to people with a bad credit history.
Rad Cred is a front-line runner among many online financial institutions that have changed the best lending companies and banking landscape. It is a safe space for people to get fast financial assistance in their most desperate moments.
Like all loan marketplaces, Rad Cred does not directly provide loans to its customers. It links borrowers to legitimate lenders willing to consider other criteria when giving out loans. If you have a short credit history or you have a credit score of 575, there is a chance for you to get a loan on Rad Cred.
However, for lenders with this level of flexibility, there is a massive possibility that borrowers may have to deal with higher interest rates and stricter loan terms. These loans are fast and are great for solving urgent financial issues.
The loan application process on RadCred is similar to the ones described previously. To begin, you need to log onto the official website, fill out the simple, applicable form, turn it in, and wait for responses from lenders that may want to give you the money you need. The lender should release your funds as soon as you both have agreed on the loan terms and conditions.
Remember that the lenders on Rad Cred may determine how much you can borrow from them depending on your credit score and the level of risk the lender can incur.
Ensure that you provide accurate banking information so there are no delays when receiving your funds.
Robust Network Of Lenders: Rad Cred is a functional member of the famous Online Lenders Alliance. As a member of this alliance, Rad Cred adheres to the best industry standards and practices concerning emergency bad credit loans.
To date, over two million customers have used the Rad Cred platform to access urgent funds to help deal with emergencies.
It is a free platform that allows you to compare lenders to choose the best suits your current financial condition.
The company works with an extensive network of lenders that offer flexible loan options to help customers get the emergency cash they need.
Secured Personal Loans Platform: Asides from its simple but functional website, Rad Cred ensures that customer information remains protected throughout their stay on the website.
The platform’s state-of-the-art encryption software protects your contact and banking details from third-party hackers.
However, Rad Cred remains obligated to share your information with a potential lender interested in offering you a loan. On the other hand, lenders treat the information given to them with the utmost confidentiality.
Easy Loan Application: On Rad Cred, you can complete a simple loan form within minutes and begin your journey towards securing fast emergency loans. You can begin to expect to hear from lenders from across the country as soon as you turn in the application.
It is easy to secure a loan on Rad Cred if you meet their basic requirements and the requirements of for lender.
However, bear in mind that meeting the requirements of the platform does not automatically mean that a lender on the platform is guaranteed to give you a loan. Lenders retain the right to give you money or reject your application.
Educational blog: This section of the website gives you accurate information about the platform and its practices before you find a loan through them.
On this part of the website, you’ll have access to expertly written articles and journals that will tell you more about the company and the suitable loan facility.
Occasionally, you will find articles to help you manage your finances better.
- Accredited member of the Online lender’s alliance
- Free educational resources on finance and loan management
- Easy and free application process for emergency loans
- Encryption software for maximum protection of customer information
- Flexible credit check
- Loan amounts are available within 24 hours
- Rad Cred does not give customers emergency funds directly
#4. CashUsa – Best For Emergency Loans For Unemployed Individuals
This platform is a highly secured Loan marketplace for borrowers with poor credits and willing lenders that may consider them. These lenders have expertise in providing short-term personal loans to a large section of borrowers.
On the CashUsa website, you may meet lenders willing to give out emergency loans of up to $10000 on the first attempt. On the platform, loan applications are fast and hitch-free; if you meet the essential requirements for the loan, you can get emergency funds before your next payday without any rigorous credit checks.
With the lenders on this platform, you are only an application form away from securing the funds you need to solve your emergency money problems.
CashUsa lenders may release your funds within one business day if they are satisfied with your application details. The loan application process is free and accessible for all US citizens.
Based on your current credit score and financial situation, you’ll find lenders on the CashUsa website willing to give you loans with Annual Percentage Rates of between 5.99% to 35.99%. Loan tenures may extend to 72 months, depending on the lender offering you the loan.
Remember that these rates and loan conditions will change considerably as you move from one lender to the other. However, with CashUsa’s rich network of credible lenders, you do not have much to worry about.
These lenders could be either state (locally licensed) or tribal lenders. With this mix of lenders from all over the country, there are many options for you to choose from. It doesn’t matter what your financial situation is, and there will be a lender willing to work with you. However, there is no guarantee that they will offer you a loan if you don’t meet their requirements.
On TrustPilot, CashUsa is a recognized brand. Glowing reviews about the platform are in no short supply.
- Simple requirements: You can begin the loan application process by filling out the CashUsa application form. If you meet the basic requirements, you can rest assured that a lender’s call is not too far away. If all goes smoothly afterward, you can expect to receive the loan amount in a day or two.
CashUsa requires that its customers be citizens of the United States. They must be 18 years old and hold a monthly income of $1000 after tax. Also, your bank account/details must bear your legal name. It will help if you have an available phone number and email address.
However, meeting the requirements above will only guarantee that you move to the next stage of the loan application process. There are no guarantees at this stage. Lenders may still choose to reject or work with you.
You can rest assured that CashUsa’s lenders will do everything possible to help you secure the cash you need.
- Industry Rates
Whether you have excellent credit or not, you can rest assured that the lenders on CashUsa.com will offer you industry loan rates. However, these rates are not the same across the board. For example, you may find that APRs range from 5.99% to 35.99%. The lender determines the specific rate depending on the level of risk that your loan application represents.
Similarly, loan tenures are not the same. Lenders determine the loan length, especially when dealing with a customer with bad credit.
- Secure Website/Platform: Even in the face of emergencies and urgent financial problems, we all need some privacy. The CashUsa platform understands this need and has, as a result, provided top-level security for its users when they are sending in loan applications. They employ dedicated encryption software that shields your private information from the prying eyes of scammers and hackers.
While CashUsa does not share your information with third parties, they are bound by law to share your information with lenders that may need them when considering you for a loan.
- Bonus Service: While linking borrowers to potential lenders, CashUsa ensures that its users are adequately informed about their choices when it comes to finances. A segment of the website is dedicated to providing educational materials that will help educate loan seekers and beginners on making beneficial financial decisions now and in the future. Read through the expertly written journals if you are unsure about what payday loans online entail. Similarly, you can learn about how to avoid new online scams.
- Responsive customer support team
- Loans for people with bad credit
- Easy application and approval procedure (if you meet requirements)
- No hidden charges
- A safe platform for borrowers and lenders
- An extensive network of lenders from all over the United States
- Flexible credit history check
- Get an emergency loan within a day
- Rates and loan terms change often
- High Monthly incomes may be required
#5. Personal Loans – Best For Urgent Same Day Loans No Credit Check Direct Lenders
On this platform, if you meet the basic requirements for receiving a loan, you can get up to $35,000 on your first try. The website has a growing network of lenders willing to provide emergency loans/funds to people with poor credit scores. As a result, the lenders on the Personal Loans website are experts in providing short-term loans to qualified customers.
You can apply for a loan on this platform by filling out a simple application form (anyone with a basic knowledge of the internet can do this). If you meet the website’s requirements, Personal Loans will send your application to different willing lenders who consider whether to offer you a loan or not.
If the second is successful, you can expect to get the funds from your lender within a day or two. Banking protocols and holidays may delay the transfer of the loan amount. Note that while you began the application process on the Personal Loans website, you may not necessarily complete it there. You may be redirected to the lender’s websites for you to continue negotiations.
Depending on the lender, you may be required to fill out another form before you can sign the loan contract. As soon as the lender releases the funds, you are free to use them to repair your vehicle, pay medical bills, pay for mortgages, and more.
If you have a terrible credit score, you may find that lenders may want to avoid working with you. While other platforms may close your application, the Personal Loans website takes things to the next level by showing your application as an ad to different lenders. This process will continue until they find a lender willing to take up your case. In extreme cases, the company may introduce you to your state’s debt relief services or credit repair companies.
Personal Loans do not provide funds. Hence, they do not have a say in how much lenders charge as interest rates. Also, they do not fix loan terms and conditions.
Simple Loans Requirements: To qualify to apply for loans on the Personal Loans platform, you must be at least 18 years of age and a recognized documented citizen of the United States. You must have a valid account with your full name and a social security number.
Emergency Release of Funds: If you can find a lender willing to work with you and reach an agreement fast, you may receive the loan amount in your bank account the same day. In other cases, this funds transfer may only take one business/working day. Banking protocols and public holidays may affect the speed of releasing these funds. However, you must ensure that you input the correct account number when applying for the loan.
Loan Guides: The Personal Loans website wants to ensure that all of its customers learn all they can learn about loans before setting out to take one. The website has a dedicated section that acts as a guide to help select a suitable loan facility. You can get information about loans and loan terminologies such as tax loans, home improvement, payday loans, and more. You’ll also learn how to identify and avoid online scams.
Safe Loan Applications: When applying for loans on the Personal Loans website, you can rest assured that all of your private information is safe. Hackers can’t get near your personal information thanks to the website’s encryption software.
Furthermore, your information is sent to verified lenders only. They do not share your information with third parties.
- Access to large loan amounts
- An extensive network of verified lenders
- Flexible credit check procedure
- No hidden charges
- Dedicated blog on finance to educate customers
- Same day poor credit loans
- Simple loan criteria
- Personal Loans does not partake in loan negotiations
How We Managed To Choose The Best Emergency Payday Loan Providers?
So, how did we create our list? First, we surfed the internet and created a list of the most popular/searched-for emergency bad credit loan companies.
We took the selection process a step further by examining each brand deeply. We paid close attention to critical areas like customer satisfaction, brand stability, bonus services, charges and extra fees, and more. Next, we removed several loan companies from our list using this approach until we were left with ten companies.
We removed some more brands from our list and arrived at our top 5 emergency loans for bad credit companies in the USA today.
What We Looked For?
When creating our list, we through examined each of the brands, paying close attention to the following vital areas:
- Customer Satisfaction: To accurately measure how customers feel about each brand on our list, we checked sources like the Better Business Bureau and online reviews. Also, we consider highly rated brand review sites like Trustpilot to get comments from customers who have recently worked with the brand. With this approach, we could determine the customer satisfaction level for each brand. So, when cutting down our list, we chose companies with the highest level of customer satisfaction.
- Experience: We closely examined how long each bad credit loan brand had been operating in the industry. If the company has many years of experience, there is an excellent chance that it will deliver on its promises before it runs out of business. With this in mind, we gave extra consideration to companies with more than five years of operation experience. This process does not entirely discredit upcoming and strong loan companies.
- Services: We looked at each bad credit loan company closely and checked the number of service queries they had to answer monthly. We chose companies that delivered their services while managing these queries adequately and effectively.
- Bonus Services: During our search for the most credible loan companies in the USA financial space, we looked out for those that go the extra mile to give their customers a complete financial service. It doesn’t matter what it is; some companies offer free financial services on finance, others offer credit repair services, and some others do meaningful community services. So we consider brands that provide wholesome loan services to their numerous customers.
- Charges and Costs: Finally, we examined the fees charged by each bad credit loan company. We looked at monthly fees, pricing structure, money-back guarantees, bonuses, and discounts. Hence, we settled for bad credit loan companies with the best value for money.
Factors To Consider Before Applying For An Emergency Loans For Bad Credit:
We are most vulnerable when we are desperate or faced with a substantial financial challenge. These are the times we make bad financial decisions that further destroy our credit scores. Hence, we recommend considering the following factors before you go for an emergency loan for a bad credit brand.
- Loan Tenure
You need to find a loan fast, but you must sit down and determine how long you can service the debt. We recommend that you only pick up loans with a tenure that works for you and your current situation. Most borrowers go for long-term loans because of the longer time frame. However, this could become a trap for someone who is not adequately prepared.
Therefore, we recommend you strongly consider how long you can service a loan before taking it.
- Interest Rates
People with poor credit are often turned away when they apply for loans. Those who secure one are hit with ridiculous interest rates that do not follow the pattern of the industry. If you have poor credit and still want an emergency loan, you do not have a choice but to accept the offer. However, take your time to compare loan offers and choose the one with the slightest interest rates.
If you do this, it will be easier for you to make repayments and fulfill the conditions of the loan contract.
- Check For Eligibility
Receiving a rejection verdict when seeking an emergency loan may cause unnecessary emotional damage. So, checking your eligibility for the loan you seek makes sense before sending in your application. You can check credit bureaus for all of the information you need. At these institutions, you will find the minimum credit score requirement for lenders to give out a loan.
Furthermore, you need to consider your debt-to-income ratio. If your current income cannot service the loan, you’d be better off looking for alternative ways to solve your financial problems. If you go ahead to take the loan and you default on payments again, your credit score will suffer even more.
- Look For Safer Alternatives
Loans are not the only way to solve urgent financial problems. Infact, they should be your last resort when everything else fails. Before filling out online loan application forms, consider all the assets at your disposal. If you have some money saved up for future purposes somewhere, it would be best to use them first. You can always fill your savings accounts back to their previous state when you are financially stable in the future.
Similarly, you can consider selling jewelry and properties that do not hold sentimental value. This may be a cheap way to get funds without the enormous interest rates accompanying loan facilities.
FAQs Regarding Emergency Loans For Bad Credit
How Much Can I Borrow With Poor Credit?
If you seek an emergency loan and have poor credit, your chances of securing one are not so great. While lenders are willing to give you the funds you need, the amount you may get might not be worth your trouble, not to mention the high-interest rates you will have to deal with. With poor credit, your loan amount is not fixed, and the personal loan lenders determine it.
What Is The Easiest Loan To Get With Bad Credit?
The most accessible loans to get approved for poor credit may include pawn shop loans, unsecured personal loan, personal installment loans, credit card cash advances, car title loans, and payday loans. These are realistic short-term loan options for people with poor credit in urgent need of cash. These loan options work for people dealing with emergencies.
Are Emergency Loan Lenders Legitimate?
Online financial brands in the United States operate under state and federal laws. Hence, they are regulated by the laws. It is, therefore, easy to conclude that these institutions are legitimate. However, ensure that you investigate the lender’s legitimacy before signing a contract.
Can I Use Someone Else’s Credit To Get Payday Loans?
Sometimes you can’t rely on just your credit score.
If you can find someone willing to help you secure a loan with their credit score, you have succeeded in making things easier for yourself.
It is possible to get unsecured personal loans with someone else’s credit history. However, you need to confirm that your lender offers such a service before you can hope to proceed.
A co-signer will help you get better loans but must ensure you make timely loan repayments. This will ensure that you do not damage your relationship with your co-signer.
How Can I Repair My Bad Credit Score?
You can start by making timely monthly payment on any current debt you are servicing. Ensure you send evidence of these timely repayments to the relevant credit bureau.
Also, you can hire the services of credit repair companies. These companies will help you bring order into your chaotic financial situation and set you on the path to recovery.
Conclusion: Which Is The Best Place To Get Loans Immediately?
Financial emergencies occur all the time. It is challenging to plan for them adequately. Unfortunately, these are periods when people default on repayments and hurt their credit score.
However, with emergency guaranteed payday loans for bad credit, you can get fast cash to help you solve your urgent financial needs. It is also a means through which you can build your credit score by making timely repayments throughout the tenure of the loan.
You can begin by choosing any emergency fund credit union we have reviewed above. Compare lenders and choose the institution that offers you the best value.
However, if you want to go elsewhere, ensure that you follow the tips in our loan guide. They help you make sound financial decisions and avoid online scams.