How to get Urgent Loans with a Bad Credit

Life Happens and sometimes you just need an urgent loan. Check out your options and everything you need to consider.

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By Ben Harper

Best Urgent Loans for Bad Credits

Lending Partner APR Loan Amount
Upstart Personal Loans by SimpleDirect 9.99 - 35.99% $1k - $35k Apply Now
Avant Personal Loans by SimpleDirect 9.99 - 35.99% $2k - $35k Apply Now
SoFi Personal Loans by SimpleDirect 5.99 - 16.19% $5k - $100k Apply Now
Prosper Personal Loans by SimpleDirect 7.95 - 35.99% $1k - $35k Apply Now

Facing a financial emergency is one of the scariest things to experience as an adult. If you don’t have an emergency fund to fall back on or even a credit card to use, it can make the emergency itself seem even scarier.

If this happens, you may need an emergency loan. It’s not as hard as you think to get urgent loans with bad credit – you may even be able to get one funded in as little as one day.

Steps to get Urgent Loans with Bad Credit

With a few simple steps, you can have a variety of urgent loans with bad credit available to you.

1. Gather proof of your income

Lenders need to see you have the income to repay the loan. You’ll need your paystubs covering the last 30 days, the last 2 years W-2s, and a copy of your tax returns (if you’re self-employed or work on commission).

2. Provide proof of your identity

Lenders need to make sure you are who you say you are. Provide a copy of your driver’s license or state ID and a copy of a utility bill or any other bill with your address.

3. Provide a reason you need the funds

Since this is an urgent or emergency loan, lenders want to know why you need the money. Is it a one-time occurrence or is this ongoing? If it’s a one-off event, they’ll feel better about loaning you the money to bail you out of the situation.

Do Urgent Loan Lenders Usually Pull Credits?

For many urgent personal loan lenders, they usually use a "soft-pull" when you are applying, which will pull your credit but will not impact your credit score. You can usually find related information on credit pulls on the lender's website.

If you are considering checking your rates on the SimpleDirect platform, the good news is SimpleDirect does not pull your credit. It gives you available options based on the information you provide and gives you options in seconds, without impacting your credit.

Check your rates - no impact on credit score

Lending Partner APR Loan Amount
upstart personal loans by SimpleDirect 5.99 - 35.99% $1k - $50k Apply Now

Are Urgent Loan Lenders Payday Loan Lenders?

Not the ones you see here on SimpleDirect. SimpleDirect works with lending partners that offer personal loans that are paid back through fixed monthly payments.

You should always consider payday loan alternatives such as the lending partners SimpleDirect works with, before selecting payday loan, which typically has a very high interest and short payback window.

Who Provides Urgent Loans with Bad Credit?

It’s easy to find lenders today that offer urgent loans with bad credit as there are many more today than ever.

Our top choices include:

Upstart – Urgent Loans with High Limits

You need at least a 600 credit score to get an emergency loan from Upstart, but they also have the highest loan limits.

Upstart offers loans between $1,000 - $50,000 and APRs from 6.18% - 35.99%. Upstart considers ‘other’ data rather than just your income. They look at your education, job potential, and where you live when determining if you qualify for a loan.

Upstart personal loans

Lending Partner APR Loan Amount
9.99 - 35.99% $1k - $35k Apply Now

SoFi– Urgent Loans with High Limits

You need at least a 680 credit score to get an emergency loan from SoFi, but they also have the highest loan limits.

SoFi offers loans between $1,000 - $100,000 and APRs from 5.99% - 21.99%. SoFi considers ‘other’ data rather than just your income. They look at your education, job potential, and where you live when determining if you qualify for a loan.

SoFi personal loans options

Lending Partner APR Loan Amount
5.99 - 16.19% $5k - $100k Apply Now

One Main Financial – Urgent Loans with no Credit Score Minimum

One Main Financial doesn’t have a minimum credit score requirement, so if you have ‘really bad’ credit, it’s a great option. You’ll pay higher APRs and an origination fee to get it, but it will help you fund your emergency with ease.

One Main Financials’ APRs range from 18% - 35.99% and they’ll loan $1,500 - $20,000.

Rocket Loans – Urgent Loans with Fast Funding

Emergencies usually mean you need the money now. Traditional lenders take days or even weeks to fund loans and even some urgent loans take a few days. Rocket Loans, however, funds loans in as little as one business day.

Borrowers need at least a 580 credit score with Rocket Loans, but you may borrow between $2,000 - $45,000 with APRs ranging from 7.16% - 29.99%.

How to Choose Urgent Loans with Bad Credit

You have many options for urgent loans with bad credit. Our top three choices are just a selection of what’s available. So how do you choose?

Popular Personal Loan Options in US

Lending Partner APR Loan Amount
9.99 - 35.99% $1k - $35k Apply Now
9.99 - 35.99% $2k - $35k Apply Now
5.99 - 16.19% $5k - $100k Apply Now
7.95 - 35.99% $1k - $35k Apply Now

What do you need?

Why do you need the funds? Do you need them immediately? Do you need a high loan amount? The answers to these questions will narrow down your options.

What can you afford?

Each lender charges different APRs and origination fees. If there is an origination fee it comes out of the loan proceeds. For example, if you borrow $5,000 and there’s a $500 origination fee, you’d receive $4,500 in hand.

How fast you can repay it?

Each loan has a different repayment period ranging from 2 to 5 years in most cases. The shorter the loan term, the lower the APR, but the higher the payment. Make sure you take a loan you can afford.

See your options - no impact on credit

Lending Partner APR Loan Amount
5.99 - 35.99% $1k - $50k Apply Now

Alternatives to Urgent Loans with Bad Credit

If you don’t want the expense of urgent loans with bad credit, here are a few alternatives:

Credit card

If you have a credit card with an open balance, you may be able to charge the emergency and pay it back as you can. Credit cards only have minimum payment requirements but do accrue interest daily.

Ask your employer for a loan

Some employers offer emergency loans, aka cash advances on your paycheck. If you’re comfortable talking to your employer, it may be a good option.

Save an emergency fund

As soon as you can, start putting money away for emergencies. Even if it’s only a few dollars at a time, every little bit adds up.

Getting urgent loans with bad credit isn’t as hard as it seems. Make sure you know the loan terms, what it will cost, and how you’ll repay it. They can alleviate the stress the emergency caused and make it easier to start fresh.

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Ben Harper

Ben is a personal finance writer with SimpleDirect, where he focuses on topics such as personal loans, credit cards, and offering financing.

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Best personal loan options

Lending PartnerAPRLoan Amount
Upstart Personal Loans by SimpleDirect9.99 - 35.99%$1k - $35kApply Now
Avant Personal Loans by SimpleDirect9.99 - 35.99%$2k - $35kApply Now
Sofi Personal Loans by SimpleDirect5.99 - 16.19%$5k - $100kApply Now
Prosper Personal Loans by SimpleDirect7.95 - 35.99%$1k - $35kApply Now

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