Emergency Loans – Why & How to Get One

A surprise can be a great thing, but today you’re looking for solutions to a not-so-happy-ending surprise. Don’t worry. We have information on emergency loans and where to get a fast loan today.

A surprise medical bill, funeral expenses, home repairs, or sudden unemployment don’t need to impede your financial success.

If you recently wondered to yourself, “Can I get a payday loan if I’m unemployed” then know that yes, you can find emergency loans, and we’ll tell you where to get a fast loan in this guide.

Ready to find out where to get the best fast loan rates? Start by entering your ZIP code into our free comparison tool. Affordable emergency loans are available.

Emergency Loans: Where to Get a Fast Loan

The best emergency loans are usually unsecured personal loans. Most people will find unsecured personal loans to be less expensive and the safest emergency loan option available.

Some personal loans can be acquired the same day you apply, but usually, it takes up to a week. A personal loan offers $1,000 to $100,000 in cash with an annual percentage rate (APR) of 6% to 36% over the course of 12 to 84 months.

Major personal loans generally require a credit score of 585 or higher to qualify. You’ll need a score above 660 to avoid an origination fee.

Notice employment history isn’t part of the standard requirements for personal loans. So you can get a personal loan while unemployed. Emergency loans for unemployed individuals exist.

Apply online with a personal loan provider known for fast approval and funding times for the quickest processing.

Lightstream Personal Loans

LightStream provides personal loans ranging from $5,000 to $100,000. Loan applications can be fast with funding available as soon as the same day.

However, you’ll need a good or excellent credit rating and several years of credit history to qualify. Learn more in our LightStream review.

Marcus by Goldman Sachs Personal Loans

Marcus by Goldman Sachs provides personal loans ranging from $3,500 to $40,000. Loan applications can be fast with funding available as soon as three days. Learn more about Marcus by Goldman Sachs.

Payday Loans

Payday loans are often funded the same day you apply. They’re usually less than $1,000, paid back in full with the next paycheck in two to four weeks. They come with a fee equal to an APR of 400% or more.

But payday loans may not require a credit check. Make a credit union and bank payday loan comparison, then apply online for the fastest possible application processing time.

Auto Title Loans

You could get an auto title loan the same day you apply. Our car title loan law chart breaks down the costs and terms by state.

Generally speaking, auto title loans are for 25% to 50% of your car’s worth for 15 to 30 days with fees and interest of up to 25% of what you borrow.

They’re secured by your car, so if you can’t pay the loan back, the lender will take ownership of your car. Auto title loans also do not necessarily require a credit check.

Apply online with a car title loan provider for the fastest possible application processing time. Compare your emergency loan rates options by entering your ZIP code in our free comparison tool.

Pawnshop Loans

Pawning an item gets you 20% to 60% of the item’s worth right away without any applications.

You’ll need to pay the money back over a certain number of months along with 2% to 25% monthly interest to get your item back.

If you’re unable to pay the money back by the deadline, the pawnshop will sell the item. You’ll need to find a local pawnshop and speak with a pawnbroker if you want to get a pawnshop loan.

We’ve compiled a local list of loan lenders so you can see what is available in your area.

Loan From a Friend

Borrowing money from friends and family is another option. To get a loan from an individual, you’ll need to agree to terms of lending, such as an APR and payoff timeline.

It’s a good idea to put these terms in writing and have both parties sign them, whether it turns out to be a gift or a standard loan situation.

Are there any other ways to get cash fast?

There are several emergency loan alternatives available. Your existing credit card may have available funding to cover your emergency. If so, you can use your credit card to withdraw a cash advance at a bank or ATM.

The credit card buys the cash with various cash advance fees in either flat amounts or percentages. Separate ATM and bank fees may apply and interest immediately starts accruing.

A more favorable and less expensive option is to overdraft with your debit card.

Homeowners with a home equity line of credit (HELOC) also have emergency cash immediately available.

Whatever the circumstances that caused you to look for more information about emergency loans and where to get a fast loan, you do have options for fast cash. Find the best emergency loan company for you when you enter your ZIP code today.

What are emergency loans?

Emergency loans help cover unexpected expenses like an urgent car or home repair.

What are the benefits of a personal loan?

Unsecured personal loans are one type of emergency loan that can be far less expensive and safer than other types, like payday or auto title loans.

Can I get an emergency loan for my small business?

The Economic Injury Disaster Loan (EIDL) is open for applications until December 31, 2021. Other options may be available to you in the form of grants, bank loans, or invoice factoring.

Can I get emergency cash immediately with bad credit?

Emergency loans with bad credit can be obtained as payday loans, auto title loans, and pawnshop loans.

How do I get emergency student loans?

Your financial aid officer can assist you with claiming federal student loans, checking out emergency student loan programs, or considering private student loans.

Additionally, other programs and options exist to find extra funds, such as a professional judgment review of federal aid, emergency aid, grants, scholarships, and bill extensions or payment plans.