When life throws you a curveball and unexpected expenses strike, whether it’s a medical emergency, urgent car repair, or a home fix you just can’t ignore, emergency loans can provide the fast financial relief you need to help keep your head above water.
These specialized personal loans are designed for quick approval and can even feature same day funding. They can help you cover those “oh no” moments without the lengthy approval process of traditional loans.
We’ll explore some of the top emergency loan options for 2025 and show you how to compare lenders so you can choose the right solution.
MoneyLion helps you find personal loan offers based on your background and credit score. Get matched with offers for up to $50,000 from top providers. Compare rates and terms to choose the best option for you.
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Best emergency loans and lenders for 2025
Based on funding speed, competitive rates, and customer satisfaction, here are some of the top emergency loans and lenders.
1. Best overall: MoneyLion
MoneyLion stands out as one of the most seamless ways to find emergency personal loan offers. MoneyLion doesn’t offer loans directly; instead, it provides a streamlined online sign up process that can get you pre-qualified without impacting your credit score. Compare emergency loan offers from a variety of lenders, compare interest rates, repayment terms, funding timelines, and more to select the best fit.
Key highlights:
- Learn what emergency loans you could qualify for
- Loan amounts range from $500 to $100,000
- Mobile app to easily see offers in one place
2. Best for emergency same day loans: OneMain Financial
OneMain Financial provides both secured and unsecured emergency loan options, with the secured loans offering potentially lower rates for borrowers willing to use collateral. Most notably, OneMain Financial offers same day emergency loans with fast funding.
Some customers can get an emergency loan within one hour after closing, but you’ll need a bank-issued debit card to access funds through OneMain Financial’s SpeedFunds® network. Otherwise, you can receive funds via standard ACH transfer in 1 to 2 business days.
Key highlights:
- Funding amounts range from $1,500 to $20,000
- Secured loan options available
3. Best for high loan amounts and fast: SoFi
SoFi excels for borrowers with good credit (about a 670 or above) who need large emergency loans quickly. Many of SoFi’s loans are emergency same day loans – in fact, 83% of typical SoFi personal loan applications that were signed before 6 pm ET on business days were funded the same day.
Loan amounts start at $5,000 and can go up to $100k. SoFi stands out by charging no origination fees, prepayment penalties, or late fees.
Key highlights:
- No upfront fees
- Flexible terms, with options from 2 to 7 years
- Up to $100,000 loan amounts
4. Best for borrowers with bad credit or limited credit history: Upstart
Upstart takes a unique approach to emergency loan lending by using artificial intelligence to evaluate more than just credit scores, considering factors like education and employment history. This makes it a solid choice for borrowers with limited credit history or those rebuilding their credit. Please note that urgent loans for bad credit may come with higher interest rates.
Funding typically can happen as fast as one business day. Loan amounts start at $1,000 and can go up to $50,000.
👉 Personal Loans for Bad Credit Guaranteed Approval: Do They Exist?
Key highlights:
- Approval process typically considers factors beyond credit scores
- Next-day funding available
5. Best for fair credit borrowers seeking fast emergency funding: Avant
Avant specializes in serving borrowers with fair credit who often struggle to get approved elsewhere. Most of their customers who receive loans have a credit score range of 600 to 700. Avant offers next-day funding for emergency loans, subject to conditions, with funding amounts ranging from $2,000 to $35,000.
Keep in mind that Avant charges an administration fee up to 9.99%, making it a more expensive option than some competitors, particularly for borrowers with good credit.
Key highlights:
- Accepts 600+ credit scores
- Next-day funding available
6. Best for consolidating debt: LendingClub
LendingClub is primarily known for its debt consolidation loans that offer a rate discount and direct payment to creditors. LendingClub also offers joint applications and flexible payment date options, though borrowers should factor in potentially pricey origination fees that can be up to 8%.
Key highlights:
- Joint applications accepted
- Direct pay for debt consolidation loans
👉 Compare the Best Debt Consolidation Loans
7. Best for small emergency loans: LendingPoint
LendingPoint caters to borrowers who need smaller emergency loans with a fast application process and potential next-day funding.
The platform stands out with its low $1,000 minimum loan amount, making it ideal for smaller emergencies like car repairs or dental procedures without forcing you to borrow more than you need. However, note that the potential origination fee of up to 10% can be costly.
Key highlights:
- $1,000 minimum loan amount
- Fast approval decisions
- No prepayment penalty
8. Best for credit-building tools and rate discounts: Universal Credit
Universal Credit stands out by offering rate discounts that could lower your emergency loan costs, particularly its impressive 1 to 3 percentage point reduction when using at least half your loan for debt consolidation.
Universal Credit also provides credit-building resources through its parent company, Upgrade. With 2 to 3 day funding and comprehensive financial tools, it’s an excellent choice for borrowers looking to address emergencies while improving their credit, though you’ll need to account for the 5.25% to 9.99% origination fee.
Key highlights:
- Up to 3% rate discount for debt consolidation
- Credit score simulator and building tools
- 2 to 3-day funding timeline
9. Best for positive customer reviews: Best Egg
Best Egg offers both secured and unsecured personal loan options, with funding times as fast as 24 hours. They have also built a strong reputation with an A+ rating on the Better Business Bureau (BBB) featuring excellent customer service scores. With a minimum credit score requirement of 600, Best Egg makes emergency loans accessible to borrowers with fair credit who might struggle to qualify elsewhere. The downside is that origination fees can be as high as 12%.
Key highlights:
- Up to 20% rate discount on secured loans
- Direct creditor payments for debt consolidation
Alternatives to emergency loans: exploring your options
While emergency loans can be a lifeline during unexpected financial crises, they’re not the only solution. It’s worth considering these alternatives that may better suit your needs and could possibly help you avoid the potential drawbacks of high-interest debt.
Cash advances (earned wage access)
If you need a smaller amount of money to tide you over until your next paycheck, a cash advance could be a solid option. Also known as earned wage access, they may provide up to $1,000 based on your earnings, without the need for collateral. They’re not a traditional loan, but an advance on your current or future income. Just keep in mind that immediate funding may come with additional fees.
👉 Best Cash Advance Apps in 2025
Credit card cash advances
If you have an available balance on your credit card, a cash advance could provide quick emergency funds. However, this option typically comes with high interest rates that accrue immediately and could negatively impact your credit score by increasing your credit utilization ratio.
👉 How to Get a Cash Advance on a Credit Card
401(k) loans
If you have a 401(k) retirement account, you may be able to borrow up to 50% of your balance or $50,000, whichever is less. While this can be a quick way to access funds without affecting your credit score, it’s important to consider the potential downsides. Taking money from your 401(k) means missing out on potential investment growth and facing taxes and penalties if you fail to repay the loan on time.
👉 I Need My 401(k) Money Now: How Can I Access It?
Home equity line of credit (HELOC)
Homeowners with sufficient equity can tap into a HELOC for emergency funds. This option often comes with lower interest rates and potential tax deductions. However, it’s crucial to remember that your home serves as collateral, so defaulting could put your property at risk. Fees, charges, and reduced home equity are other factors to consider.
👉 HELOC vs. Personal Loan: Which Is Better?
Payday loan advances
While payday loans are often marketed as emergency cash loans for those with bad credit, they come with significant risks. With an Annual Percentage Rate (APR) up to 400%, these short-term loans can quickly lead to a cycle of debt if you’re unable to repay them in full on your next payday. It’s recommended to exhaust all your other options before considering this option.
👉 Payday Loan Alternatives: How to Break the Cycle of Debt
What are emergency loans?
Emergency loans are short-term personal loans designed to provide fast access to cash during financial emergencies. Unlike traditional personal loans that may take weeks to process, emergency loans typically offer:
- Quick approval: Often within hours or same-day
- Fast funding: Money deposited within 1 to 2 business days
- Flexible use: Typically little to no restrictions on how you spend the funds
- Unsecured options: No collateral required for many emergency loans
- Loan amounts: Typically $500 to $50,000
Emergency reasons to borrow money
Emergency loans are designed for genuine financial emergencies that can’t wait for your next paycheck or require more funds than you have available. We’re talking about those unexpected expenses that can seriously derail your financial plans, not just a minor inconvenience or a spur-of-the-moment purchase.
Legitimate emergency expenses
- Medical emergencies – ER visits, urgent procedures, prescriptions, or dental emergencies
- Essential home repairs – Broken HVAC, major plumbing leaks, or roof damage
- Critical car repairs – Vehicle breakdowns needed for work or essential transportation
- Family emergencies – Emergency travel for illness/death, urgent pet care, or child care crises
- Emergency housing – Temporary lodging due to displacement or urgent relocation
What’s NOT an emergency
Avoid using emergency loans for:
- Vacations or entertainment
- Shopping or luxury purchases
- Regular monthly expenses you should budget for
- Investment opportunities
- Cosmetic procedures or non-urgent medical care
Remember, emergency loans should be your safety net for truly unexpected expenses, not a substitute for proper budgeting and emergency savings.
Tips for getting an emergency loan with bad credit
If you’re facing a financial emergency and have a less-than-stellar credit score, securing an emergency loan may feel like an uphill battle. However, there are still options available to you. Here are some tips to help you find an emergency loan when you have bad credit:
Compare lenders and read the fine print: Don’t settle for the first bad credit loan you find. Compare offers from multiple lenders and carefully review the terms, fees, and interest rates. Watch out for predatory lenders that offer “guaranteed approval” or pressure you to borrow more than you need.
Consider secured loans: If you have an asset like a car or savings account, you may be able to use it as collateral for a secured loan. This can help you qualify for better rates and terms, even with bad credit. Just remember that defaulting on a secured loan could mean losing your collateral.
Get a co-signer: Finding a trusted friend or family member with a strong credit score to co-sign your loan can improve your chances of approval and may help you secure better rates. However, co-signers are equally responsible for repaying the loan, so make sure they understand the risk involved.
👉 Personal Loans With a Cosigner: How Does It Work?
Improve your credit before applying: If your emergency can wait a few months, take steps to improve your credit score before applying for a loan. Pay down debt, make on-time payments, and dispute any errors on your credit report. Even a small boost in your score can make a difference in your loan terms.
👉 Credit Builder Loan: What Is It, How It Works, How to Get One
Take Action: Get Your Emergency Loan Today
If you’re facing a financial emergency, don’t wait. Compare your options and apply for the emergency loan that best fits your needs and budget.
Remember: Emergency loans should be used for genuine emergencies. For long-term financial stability, focus on building an emergency fund and improving your overall financial health.
FAQs
What is an emergency loan?
An emergency loan is a type of short-term loan designed to help cover unexpected expenses. These loans typically range from $500 to $5,000 and can be used for things like medical bills, car repairs, or other urgent costs.
Unlike credit cards or payday loans, emergency personal loans often have lower interest rates and give you a fixed time period to pay back the money.
How to get an emergency loan?
To get an emergency loan, start by checking your credit score and gathering basic documents like proof of income and bank statements. Most lenders let you apply online – you’ll need to provide personal information, employment details, and how much you want to borrow. Even with bad credit, you still have options. Some online lenders may look at factors beyond credit scores, like your income and employment history, when making approval decisions.
Are there emergency loans for low-income families?
There are no specific emergency loans for low-income families. For the fastest access to cash, low-income households may be able to qualify for personal loans or earned wage access. It’s also worth looking into local churches, charities, and your local municipality for immediate resources if you need help now. It’s best to stay away from payday loans or borrowing more you can afford if possible.
Where can I get emergency same day loans?
Many online lenders offer quick funding for emergency loans, with some able to deposit funds the same day or a few days after approval. Use MoneyLion to compare multiple lenders and find options with the fastest funding times for your situation.
Where can I find emergency loans with bad credit?
While traditional banks may be stricter with credit requirements, many online lenders specialize in bad credit emergency loans and consider factors beyond just your credit score, like income and employment history. You can find and compare offers for personal loans online through MoneyLion.
