Emergency Loans

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What are emergency loans?

An emergency loan is a personal loan for urgent or unplanned expenses in which the funds are disbursed quickly. Taking care of unexpected events, such as a car breaking down or a sudden toothache, can often require fast access to extra cash.

Comparing lenders to find the best emergency loan for you

  • Consider extra costs, such as prepayment penalties and origination fees
  • Compare what your monthly payment would be with each lender
  • Compare the funding amounts you’re able to borrow
  • Calculate how much you’ll owe in interest over the life of the loan
  • Consider whether a secured loan is worth the risk of losing your property
  • Consider whether an unsecured loan might have a higher interest rate
  • Determine how much time you have to pay back the loan
  • Decide whether a fixed or variable interest rate makes more sense
  • Check if having a higher credit score makes you eligible for better terms


Check out these emergency loan lenders with fast funding

1. Best Egg

Best Egg emergency loan details
APR 5.99% to 29.99%
Terms 36 or 60 months
Loan amount $2,000 to $35,000
Time to funding As little as 1 business day
Minimum credit score requirement 640


Best Egg offers the lowest starting APR among the four lenders we’re highlighting. But you must have a FICO Score of at least 700 and a minimum annual income of $100,000 to qualify for the lowest interest rate. Its maximum loan amount is $35,000, which is lower than what Upstart and Upgrade offer, but more than LendingPoint offers.

Georgia residents must borrow at least $3,000, New Mexico and Ohio residents must borrow at least $5,000 and Massachusetts residents must borrow at least $6,500. Origination fees of 0.99% - 6.99% may apply. The fee would be deducted from your loan proceeds.

2. Upstart

Upstart emergency loan details
APR 7.98% to 35.99%
Terms 36 or 60 months
Loan amount $1,000 to $50,000
Time to funding Next business day after accepting your loan
Minimum credit score requirement 600


Upstart emergency loans are not available to borrowers in West Virginia or Iowa. Similar to Best Egg, Upstart has minimum loan amounts for borrowers in certain states: Georgia, $3,100; New Mexico, $5,100; Ohio, $6,000; and Massachusetts, $7,000.

Your education, work history and credit history will factor into the APR you receive. Upstart offers loans of up to $50,000, which is double the maximum offering by LendingPoint. But its origination fee is up to 8.00% of the target amount, which is the highest maximum among the four lenders.

3. Upgrade

Upgrade emergency loan details
APR 7.99% to 35.97%
Terms 36 or 60 months
Loan amount $1,000 to $35,000
Time to funding Within 1 business day after verification
Minimum credit score requirement 620


Upgrade personal loans have an origination fee of 2.90% - 8.00%, which will be deducted from the amount of the loan.

Though you can receive your funds within a business day of being verified, the total time will depend on your bank. You should receive your money within four days. Upgrade and Upstart are possible options if you only need $1,000.

4. LendingPoint

LendingPoint emergency loan details
APR 15.49% to 35.99%
Terms 24 to 48 months
Loan amount $2,000 to $25,000
Time to funding As soon as the next business day after approval
Minimum credit score requirement 585


While LendingPoint charges the highest minimum APR rates on this list, it is the only lender that considers borrowers with credit scores below 620.

Depending on where you live, you may have to pay an additional origination fee of 0.00% - 6.00%. If you’re looking for more than $25,000, you’ll have to check with the other lenders on our list.

How to apply for an emergency loan

  1. Fill out an online form on LendingTree
  2. Compare up to five loan offers from lenders, including interest rates and repayment timelines
  3. Determine a monthly payment amount that works based on your financial obligations
  4. Choose the best loan and repayment plan for you
  5. Accept the personal loan funds


Lenders were selected using MagnifyMoney’s personal loan marketplace on Dec. 12, 2019, assuming:

  • Credit score of excellent (720-850), good (680-719), fair (640-679) or poor (below 640)
  • Loan amount of $2,500
  • ZIP code: 11220

Lenders who do not have a specified minimum score requirement or that do not fund loans within one business day after loan approval were not considered. The top three lenders (according to minimum APR) for each credit profile were then considered.

LendingTree owns MagnifyMoney.