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Best Emergency Loans 2022: Best Quick Loans

Best Emergency Loans 2022: Best Quick Loans
Best Emergency Loans 2022: Best Quick Loans [ Photo ]
Published Feb. 14

Best Emergency Loans 2022: Best Quick Loans

Life can get expensive, especially when unexpected expenses occur. Nonetheless, quick cash can be a blessing. Emergency loans may be the perfect solution! Even when you have bad credit, there are emergency loans to consider.

We looked at all the online lenders on the market. Then, we narrowed it down to the top 5 best emergency loan lenders. Tried, tested, and thoroughly vetted, we want to show you the options at your disposal. Whether you have excellent, good, fair, or even poor credit, there are emergency loan solutions for you.

The 5 Best Emergency Loans for 2022

BadCreditLoans - Best bad credit emergency loans

Cash USA - Get an emergency loan fast and easily

Personal Loans - Get approved for personal loans up to $35K quickly

Money Mutual - Overall best emergency loans for most credit

Upstart - Best emergency loans for fine to good credit

Bad Credit Loans

One of the best lending platforms when you’re in a tight spot is Bad Credit Loans. Access a long-term or short-term loan through their platform. They’re not directly a lender. Instead, they connect customers with reputable lenders that work with low credit scores. We wouldn’t necessarily recommend this one if you have more favorable credit.


●   Credit requirements are flexible, especially if you have poor credit

●   Detailed information can help you through the lending process, making it ideal for first-timers

●   Sign up process is fast, free, and easy

●   Best known for emergency loans

●   Loan amounts available range from $500 to $5,000


●   Some may consider the eligibility requirements as strict.

Cash USA

A secure, safe website to get a loan is none other than Cash USA. They have an industry-standard encrypted system to protect customers. Likewise, they’re considered one of the most reliable sources to get emergency cash fast. Regardless of your financial crises, this platform might be able to help.


●   Smaller loans are available, as well as loans up to $10,000

●   The application process, is both fast and simple

●   Their website is encrypted and secure

●   Well-known, reliable lender name


●   Borrowers may be excluded based on specific eligibility criteria.

Personal Loans

Another lending network to consider is Personal Loans. They’re not directly a lender, but they can help you look through various loan options. Depending on your financial emergency, they’ll hook you up with a lender that can help.


●   Connect to a lender free of charge through Personal Loans’ network

●   The platforms help to protect your personal information

●   Funds can hit your bank account within one business day

●   Loan amounts between $1,000 and $35,000 is available


●   Must provide a verifiable source of income

●   Monthly income requirements may seem a bit higher than other platforms

Money Mutual

You may recognize this name already, and it’s certainly one to keep in mind. Money Mutual is well-known to help consumers in dire need of emergency funds. Their online loan marketplace connects you with a suitable lender in moments. It takes about five minutes to apply for a loan online through their platform.


●   Both small and large loans are available (between $300 and $35,000!)

●   Money Mutual’s website is encrypted and secure

●   There are a variety of loans available, not just emergency loans

●   The application process is quick and easy


●   Must have verifiable income to qualify (at least $800 a month)


If you’re looking for an unsecured personal loan, UpStart is one of the most reputable lenders. They’ve helped over a million customers get emergency cash. However, only go for this lender if you have fair to good credit.


●   This lender doesn’t charge any prepayment penalties

●   Can qualify even without a job if you have another source of income

●   Loans can start as low as $1,000 but can also be much higher

●   UpStart may be able to evaluate nontraditional data to approve your application

●   Can check your approval ratings without damaging your credit


●   Must have a credit score of at least 600

What to Consider When Taking Out an Emergency Loan

How do you choose an emergency loan lender? Of course, we know there’s a lot to consider if you’re going to take out this loan. That’s why we’re here! It’s our goal to help you through it to make an informed, logical decision.

Even though we’ve provided you with recommendations, now we want to make it easier for you to decide between them. While you shop around, pay attention to these features. Which are most important to you in a lender or loan? The best lender for you will meet all your pre-qualifications just as much as you meet theirs.

Eligibility Requirements

Of course, the most crucial factor should be the eligibility requirements of the loan. Do you qualify? Some basic requirements across the board can include being a US resident over 18.

The lender may consider your credit history to determine your eligibility further. Many lenders, for example, will only approve adults with a minimum credit rating of 600.

If you have poor credit, look specifically into emergency loans that focus on bad credit. It’s not impossible to get a loan just because you have poor credit. Don’t let this be an obstacle that stops you! Research the right emergency loan lender for your specific credit needs.

Speed of Funds

How quickly can that emergency loan hit? Time is typical of the essence if it’s an emergency. In this case, you’ll want a lender that can deposit funds in as quickly as one business day. Same-day loans are certainly fitting for emergencies.

Payment Terms and Conditions

The lender’s conditions regarding how you repay the loan are essential to consider. These can include the following:

●   Interest rate

●   The timeframe in which you have to pay the loan back

●   Frequency of your payments

●   Your initial payment start date

●   And more

Total Cost

Besides the interest rate, additional fees may be tacked onto the loan. These can add up, so make sure you understand the total cost involved. Is there an origination fee? Are there any late fees or returned check fees? Understand exactly all the fees you may incur. This can help you fully decide if you can comfortably pay back the loan or not.

Customer reviews are a great way to find out about hidden fees. Be sure to check out customer reviews of the loan you consider to help seal the deal.

Loan Amount

Check each lender’s loan range to see which fits your needs the best. For example, some lenders may only offer between $500 and $5,000. Meanwhile, others may offer grander sums of $10,000 to $50,000. It all depends on the lender you apply with and can qualify for.

Online Services

Finally, it’s a plus when lenders have a user-friendly online platform. This isn’t a feature everyone desires, but it can be one for many. It might include 24/7 online web or chat support, a mobile app, and easier ways to pay virtually. With streamlined online services, you can feel more in control about paying off your emergency loan.

Frequently Asked Questions About Emergency Loans Online

How quickly can I get an emergency loan?

This all depends on the speed of the lender you choose. Some lenders can provide funding as soon as the next day, while others can take multiple days to process. However, some lenders also offer same-day funding.

Almost every lender on our list can approve and fund an emergency loan within 24 hours. Be sure to do your research, especially if speed is the most important factor.

Can I get an emergency loan without a credit check?

Pre-qualifying for a loan doesn’t have to require a hard credit check. However, almost every lender will require a credit check of some kind. To pre-qualify, you typically only have to do a soft credit check. With that information, they can decide if they want to proceed with you or not. If they do, a hard credit check will then be performed.

If you come across a lender that provides emergency loans with no credit check, expect high-interest rates.

What is the minimum credit score to qualify for an emergency personal loan?

Every lender has its approval range. Most, though, will require a minimum credit score of 600. Some platforms will allow you to get a personal loan with a lower credit score. Bad Credit Loans is a perfect example.

If you have a credit score over 620, your chances of getting a loan with competitive interest rates are higher. Logically, the better your credit, the more appealing loans you’ll qualify for.

Can I get an interest-free emergency loan?

Interest-free loans aren’t the easiest to come by. If this is the route you want, we recommend borrowing money from a loved one. A close relative or even a family friend could help you out. If that’s not an option, you could also try borrowing from a credit union.

Find out what credit score your bank requires for loans as another alternative. You’re most likely to find that getting a lower-interest-rate loan is the best call.

What’s the max amount of loan I qualify for with bad credit?

How much you qualify for will depend significantly on the online lender. Some online lending platforms understand that emergencies happen and emergencies aren’t cheap. Even if you have a poor credit score, you can qualify for up to $25K.

It all depends on who you go through. Be sure to check if you pre-qualify for any of the recommendations on our list. The good news is this is an excellent stepping stone for you to start.

Will an emergency loan impact or help my credit score?

When you accept a lender’s loan offer, you accept they do a hard credit check. This can certainly affect your credit rating. On-time, consistent payments with this new account will greatly impact your credit.

You may see your credit rating drop due to accepting a loan. However, you may notice an increase with each on-time payment over the next few months or years. This adds to your outstanding debt.

Payment history is a significant contributing factor to credit scores, so be sure to stay on top of your payments!

What are the differences between an unsecured and a secured loan?

You can expect to provide some collateral when it comes to secured loans. This can be assets like your car, property, or even stocks. Lenders can take possession of your collateral if you breach the loan terms.

The collateral is then used to cover your debt essentially. As a result, you may be able to access a higher loan amount with lower interest rates. While this can feel risky, it’s also a risky move for lenders. Automotive loans, HELOCs, and even mortgages are examples of secured loans.

Meanwhile, unsecured loans require no collateral. Lenders, therefore, consider the loan type to be high risk. The cap for these unsecured loans is most often $50,000 due to this fact. Unsecured loans may be more challenging to qualify for. Do you have a poor credit rating or no steady source of income? This might then not be the ideal loan type for you.

Final Thoughts

Everyone has their reasons for needing an emergency loan. It shouldn’t take having excellent credit to qualify for one. Obtaining a loan with bad credit is possible! As you can see, there are understanding lenders out there.

Whatever your reason for needing a loan, you can qualify for one using the right lender. With so many online lending platforms available, there are options at your disposal. We hope our list helps guide you to the right emergency loan for your specific situation.


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