Best Emergency Loans of 2022
Emergencies come in all shapes and sixes. Whether you need money for unprecedented home improvements, last-minute expenses, or cover income gaps, personal loans can help you pay for it.
Unlike personal or bank loans, emergency funding options, come with high-interest rates. However, many lenders offer same-day disbursements, which ensure you get your money when you want it the most.
Finding the right lender might seem impossible when you immediately need a cash injection. Your situation becomes more complicated when you have a poor credit score. Thankfully that isn’t the case anymore.
The best emergency loans are quick and convenient without the wait time of application approval. For that reason, we are sharing our list of the best emergency loans of 2022. We hope you find a loan provider within your budget by the end of this article. So let’s get started.
Table of Contents
Overview: Best Emergency Loan
Best Personal Loans for Emergency: Detailed Insight
BadCredit Loans: Best for Bad Credit Score Borrowing
BadCreditLoans is one of the few online loan providers that doesn’t require a minimum credit score requirement. This online lender provides loans for people with credit scores below 500. Plus, it has competitive APR and quick fundings.
The customer service is fast and helpful, and you won’t have to face unnecessary delays in receiving the amount of your loan. However, you can’t borrow $1,000 if your credit score is lower than 500.
So in a way, BadCreditLoans has a minimum credit score requirement. However, you can borrow money less than $1,000 without sharing your credit score. Anything above that, and you have to prove that you are trustworthy.
↳ Best Feature?
The best feature of bad credit loans is that you can request unsecured personal loans without breaking a sweat. The customer agents will quickly approve your request without causing much trouble. Moreover, it’s ideal for people with a credit score below 500.
↳ Who is it Best For?
This lender is an ideal option for people with a bad credit score – hence the name. Plus, you can use the borrowed money for unexpected home repairs. However, you won’t get much if your credit score is below 500.
Click Here to Securely Get Started With BadCredit Loans.
Best Egg: Best for Debt Consolidation
Best Egg is our top pick for several reasons. One of which is debt consolidation. Borrowers with low credit scores can take a personal loan from Best egg and consolidate their debt. Making payments through one channel is more efficient than paying separate creditors.
Another reason for choosing Best egg is because this financial institution offers credit card refinancing. Plus, its payment terms are three to five years with exceptional customer support – a feature most online loan providers lack.
↳ Best Feature?
The best feature of this financial institution is direct payment to creditors. Plus, you can request secured loans from Best Egg.
In addition, customers can access their credit score through their Best Egg account free of cost. This is an added advantage for people trying to improve their poor credit scores.
↳ Who is it Best For?
Borrowers have the option of choosing from a wide range of loan amounts. Best Egg’s loan range is between $2,000 to $50,000.
Click Here to Securely Get Started With Best Egg Loans.
Upgrade: Best Loan Application Process
Despite the high APR rate and origination fee, we choose Upgrade because of its seamless application process. While online loan providers promise cash disbursement within one business day, their application process is too complicated.
Upgrade has several positive customer reviews, and most of them highlight its loan application process. Other than that, Upgrade is pretty much the same as other online lending institutions.
↳ Best Feature?
The best feature of Upgrade is its mobile application that allows account management. You can easily change your bank account details with a few taps. Plus, you can view your VantageScore 3.0 credit score.
Upgrade also shares tips and tricks for improving your credit score. It’s a rare feature that most lending institutions avoid.
↳ Who is it Best For?
Upgrade is a pretty standard online lending service without any bells and whistles. Therefore, it’s ideal for people looking for emergency loans for home improvements or medical expenses.
Click Here to Securely Get Started With Upgrade Loans.
Avant: Best for Flexible Payment Terms
Avant is our top pick because its application for unsecured loans submitted before 4:30 pm central time during weekdays is approved the following day. The turnaround time of this lending institution makes it the perfect bank for unsecured loans.
Avant’s minimum borrowing amount is $2500 to $35,000. Its flexible payment terms of 2 to 5 years are a great fit for those looking for an easy personal loan. These loans come at a price because additional fees mount up to 4.75%.
↳ Best Feature?
The best feature of this bank is that it offers personal loans to people with less than favorable credit scores. Plus, this financial institution has a 4.7-star rating on Trustpilot.
However, the bank doesn’t allow a co-signer, so if you are looking for a low-interest rate with the help of your friend, you have to look elsewhere.
↳ Who is it Best For?
This bank is best for people with poor credit scores. Avant has a wide range of customers, and its lowest credit score requirement is 580. Making it the perfect bank for those who need emergency loans but don’t have the required credit score.
Click Here to Securely Get Started With Avant Loans.
PersonalLoans: Best For Personalized Loan Offers
PersonalLoans.com is our top pick because of its personalized loan offers. This online portal connects creditors with debtors. But you have the option to choose the most suitable plan.
As a third-party facilitator, PersonalLoans.com removes itself as soon as you get your emergency funds. As a result, your deal directly with your online lenders.
↳ Best Feature?
The best feature of this loan provider is its different types of loan services. PersonalLoans provide peer-to-peer lending, personal bank loans, and personal installment loans.
↳ Who is it Best For?
PersonalLoans is best for people who want to return their loan amount on their own terms. The financial institution doesn’t have any hard and fast rules for repayment. You can make your own term by creating your own payment schedule. It’s one of the few payday lenders that offer this service.
Click Here to Securely Get Started With Personal Loans.
OneMain Financial: Best Secured and Joint Loans
OneMain Finance offers secured and joint loans, which makes it an ideal financial institution for emergency loans. Plus, you can have a co-signer for your loans, reducing your interest rate.
OneMain Finance has operational branches in all 44 states of the US. Customers can walk in and personally talk OneMain Finance representative. This is a great option for those who enjoy branch banking but can’t secure a bank loan.
↳ Best Feature?
The best feature of this lender is the option to choose a payment date and make direct payments to creditors. You might not like the high APR, but you won’t be disappointed with OneMain Financial’s branch service.
↳ Who is it Best For?
While this lender is a great option for a payday loan for people with bad credit, it’s also the top choice for people looking for reliable branch service. OneMain Financial won’t check your credit score, nor will this loan affect your credit history in any way.
Click Here to Securely Get Started With OneMain FinacialLoans.
LendingPoint: Best For Early Payments
LendingPoint is one of the few online loan providers with no penalty for early payments. The online lender’s loan repayment terms are 2 to 5 years, but not Nevada and West Virginia.
Though Lending point has no penalty early fee policy, customers might be charged with origination or other fees up to 6%. But don’t worry, the origination fee can be deducted or financed. For all the prior reasons, Lending Point has an A+ rating from Better Business Bureau.
↳Best Feature?
One of the best features of Lending Point is that borrowers can prequalify for a loan with a soft pull that won’t affect their credit score. Moreover, there are no early payment charges.
↳ Who is it Best For?
Lending Point may be best for several borrowers because of its low credit score requirement and small loan amount. However, this financial institution particularly stands out for those who want to make early payments and avoid paying additional interest charges.
Click Here to Securely Get Started With LendingPoint Loans.
Upstart: Best For Young Borrowers
