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Best Emergency Loans, Top 10 Fast Cash Loans in 2022

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Posted at 2:31 PM, May 20, 2022
and last updated 2022-05-20 14:31:39-04

If you're on the hunt for the best emergency loans, it's most probably because you're in dire need of some quick cash.

Maybe your car broke down and you need to get it repaired before you can go to work, or perhaps you've just been hit with an unexpected bill that you simply can't afford to pay.

Whatever the reason, when you need money in a hurry, one option is to take out an emergency loan.

But with so many different types of loans out there, it can be tricky to know which one is right for you.

While you can get many other quick loans, CashUSA is your best bet since it offers simple and transparent loans with manageable loan terms and amounts. Plus, there is no application fee and you get excellent customer support from the platform.

Besides CashUSA, there are many other lenders you can get cash loans from. Here, we've compiled a list of the best online loans to help you get through these tough times.

Let’s get to it!

Best Emergency Loans in 2022:

1. CashUSA — Best for Emergency Loans Overall

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CashUSA Pros

  • Offers loans to people with poor credit scores 
  • Fast fundings
  • Transparent application procedure
  • No application charges

CashUSA Cons

  • Comparatively higher interest rates

CashUSA is a loan marketplace that connects you to a network of willing personal loan lenders.
You can apply for personal loans from Tribal and State lenders on the platform, with the minimum loan amount being $500 and the maximum $10,000.

CashUSA Application Process: 4.8/5

It's pretty easy to apply for a loan on CashUSA. You need to fill out the short online form with your personal information, including your Social Security number, address, phone number, email address, and income information.

After that, you'll be connected with emergency loan lenders.

You also don't need to pay an application fee, which is a plus since you're probably already short on money.

However, the application form also requires filling in the loan amount and credit type (poor to excellent).

Finally, you must specify the reason for the loan application, such as wedding, moving, auto repair, debt consolidation, emergency, major purchase, home improvement, medical, etc.

CashUSA Fees 4.9/5

CashUSA does not charge any fee for its service. Instead, you have to pay the rates and fees of the lender you choose. These fees differ depending on the lender and the type of loan you're taking out.

Typically, the APR ranges from 5.99% to 35.99%. It's higher for people with poor credit scores.

CashUSA Terms and Requirements 4.8/5

The terms for getting a loan from CashUSA are pretty simple. You need to be over 18 years old, have a regular source of income, and have a current bank account.

CashUSA Customer Support 4.9/5

CashUSA's customer support is excellent. You can reach out to the company via phone or email, and they will usually get back to you within 24 hours.

Get a Loan Fast With CashUSA

2. BadCreditLoans — Urgent Loans for Bad Credit

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BadCreditLoans Pros

  • Transparent online process
  • Fast funding
  • Loan decisions made in minutes 
  • Educational resources

BadCreditLoans Cons

  • Low Better Business Bureau rating
  • An indirect lender

BadCreditLoans provides quick loans to borrowers who have poor credit scores. The loans are unsecured, so you don't need to put up any collateral. You can apply for a loan online from the comfort of your home.

BadCreditLoans Application Process: 4.7/5

The application process is quite simple as you only have to fulfill a few requirements. Then, you can go to the marketplace's website and fill out a form with your personal information.

Filling the form takes less than five minutes. You can choose different reasons for getting a loan, such as refinancing credit card debt, repaying debt, medical expenses, and taxes. Once you've filled out the information, the platform connects you to different lenders meeting your needs.

BadCreditLoans Fees: 4.7/5

You can get a loan of $500 to $5,000, depending on the lender you choose. Since BadCreditLoans is not a direct lender, the fees will depend on the lender the platform connects you to. In most cases, the APR is $5.99% to 35.99%. Meanwhile, there's no application fee.

BadCreditLoans Terms and Requirements: 4.8/5

You should be at least 18 years of age to apply for a loan on the platform. Plus, you should be a US citizen with a regular source of income, a valid email address, and a bank account.

BadCreditLoans Customer Support 4.8/5

You can expect BadCreditLoans' customer support to be responsive and helpful. In addition, the company has an extensive FAQ section on its website that covers most topics related to the loan process.

Loans For Bad Credit With BadCreditLoans

3. PersonalLoans — Large Loan Amounts

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PersonalLoans Pros 

  • Quick loan decisions
  • Large loan amounts
  • Free application
  • Flexible loan terms

PersonalLoans Cons 

  • Too much personal information needed
  • Indirect lender

PersonalLoans is a cash loans marketplace where you can shop for various loan products from an extensive network of lenders. You can compare offers side by side and choose the best option for your needs.

PersonalLoans Application Process: 4.7/5 

The application process is just like any other loan application. First, you'll need to provide personal information, such as your name, address, and Social Security number.

Then, you'll need to provide some financial information, such as your income and employment history.

Once you've submitted all of the required information, the platform will show you potential lenders based on your information.

PersonalLoans Fees: 4.7/5

Since PersonalLoans is not a direct lender, the fees will depend on the lender. The minimum APR you can expect to get is 5.99%, while the maximum is 35.99%.

The loan repayment terms range from 90 days to 72 months, depending on the loan amount.

PersonalLoans Terms and Requirements: 4.7/5 

You must be 18 years or older and have a Social Security Number.

Plus, you should be a legal citizen or permanent resident of the US. You also need to show a consistent source of income.

Depending on the lender, you might have to submit a pay stub to be approved for a loan. The platform also needs you to have a bank account and email address.

PersonalLoans Customer Support: 4.8/5

When applying for loans, you may have some questions. PersonalLoans has a FAQ section on their website that can answer some of your questions.

If you can't find the answer to your question, reach out to their responsive support team.

Quick Loan Decisions With PersonalLoans

4. Citrus-Loans — Great for Fast Emergency Loans

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Citrus-Loans Pros 

  • Fast funding
  • Quick application process
  • Loans for fair or poor credit scores too

Citrus-Loans Cons 

  • Indirect lender
  • Small loan amounts

Citrus-Loans is one of the best platforms for getting a fast loan. The application only takes a few minutes, and you can get your money as soon as the next day!

Citrus-Loans Application Process: 4.7/5

To apply, you'll need to provide some personal information, such as your name and Social Security number.

You also need to mention a reason for applying for the loan. After that, you'll need to provide financial information, such as your income and employment history.

Citrus-Loans Fees: 4.6/5

Citrus-Loan does not mention any standard fees or range on its website. Therefore, the rates and fees will depend on the lender who issues the cash advance loan.

Citrus-Loans Terms and Requirements: 4.6/5

You must be 18 years or older and have a regular source of income. You should also be a legal citizen or permanent resident of the US with a bank account.

Citrus-Loans Customer Support: 4.5/5

Citrus-Loans' website isn't exactly user-friendly since it's mainly text-based. However, their customer support is relatively responsive and helpful. If you have any questions, reach out to their support team.

Fast Funding With Citrus-Loans

5. MoneyMutual — Plenty of Lenders Available

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MoneyMutual Pros

  • Quick loans
  • Loan options for low credit scores
  • Small loans are also available
  • Access to multiple lenders

MoneyMutual Cons 

  • Non-transparent information on interest rates
  • Confusing screening process

MoneyMutual is a loan marketplace where you can find loans from an extensive network of lenders. So whether you're looking for short-term or payday loans, the platform has various lenders to meet your needs.

While the interest rates can be pretty high for people with poor credit scores, the availability of a large number of lenders makes this platform ideal for most borrowers. Plus, you can be approved for a loan ranging from $200 to $5,000 in just a few minutes.

In most cases, you get the money within 24 hours of being approved for a loan. It's a notable advantage for people who need urgent loans to cover medical or car repair bills.

MoneyMutual Application Process: 4.5/5 

MoneyMutual has a short application that asks for your state, ZIP code, email, phone number, and other personal information. You'll also have to enter your banking details and employer's identity.

The lenders on MoneyMutual see your application and decide if they want to lend you money. If you get an offer from a lender, you can choose to accept or deny it.

If you're approved for the loan, you'll get the amount through direct deposit in just 24 hours. While the application seems simple, do note that MoneyMutual does not assist you once a lender has reached out to you.

It's your job to check the information on the lender's website and proceed with the application. Plus, MoneyMutual doesn't explain the screening process for getting selected, making it confusing for borrowers.

MoneyMutual Fees: 4.6/5

MoneyMutual does not have any set fees since the rates depend on the lenders. However, you should be prepared to pay interest.

MoneyMutual Terms and Requirements: 4.7/5

You must have a regular source of income and a checking account to qualify for a loan on MoneyMutual. You should also be 18 years or older and a US citizen.

MoneyMutual Customer Support: 4.7/5 

Customer support on MoneyMutual is available through email and phone. The agents are polite and helpful, but they do not offer any help after you've matched with a lender.

Fast Approval With MoneyMutual

6. Upgrade — Great for Secured Loans

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Upgrade Pros 

  • Joint and secured loans are available
  • Multiple repayment terms
  • Discount for checking accounts
  • Discounts for autopay

Upgrade Cons 

  • Late fees applicable
  • Charges an origination fee

Upgrade offers the best emergency personal loans for people who need secured or joint loans. The platform is quite attractive with perks like discounts for autopay and checking accounts.

Upgrade Application Process: 4.7/5 

Before applying, you can check your rate with a soft credit pull on the platform. It does not negatively impact your credit score.

However, if you're approved for a loan and accept the offer, the platform triggers a hard pull.

When applying for a loan, you need to provide your name, email address, date of birth, income, and employment status. The application process is quite simple and can be completed quickly.

Do note that the approval process can take a few days. However, after you're approved, you may receive the funds in just a day. The repayment terms range from two to seven years. Upgrade does not offer loans in Washington, DC.

 Upgrade Fees: 4.7/5

The fees for Upgrade are comparable to other loan providers. However, the platform has a high origination fee of up to 8%. Meanwhile, you get discounts for setting up autopay or a checking account.

Upgrade Terms and Requirements: 4.6/5 

The terms for application are similar to most other platforms, such as US citizenship, a bank account, and proof of employment. You can also add a co-borrower to your application.

If you experience an unprecedented hardship, you can also qualify for the platform's Hardship Program. The monthly payment is temporarily reduced for the borrowers per this program.

Upgrade Customer Support: 4.7/5

You can contact customer support 24/7 through multiple channels. The platform also has a mobile app that you can use to manage loans.

7. Lightstream — Top Loan for a Good Credit Score

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You can also find answers to most of your questions on the FAQ page. However, Lightstream does not have any financial education resources like many competitors.

Lightstream Pros

  • No fees
  • Satisfaction guarantee
  • Discount for autopay
  • Competitive rates

Lightstream Cons

  • Does not offer pre-qualification
  • Long credit history needed

Lightstream is a good option for borrowers with excellent credit.
The company offers unsecured personal loans with no fees and competitive rates. You'll need a long credit history to qualify, though.

Lightstream Application Process: 4.7/5

Lightstream does not allow you to pre-qualify by inputting your personal information online. Instead, you'll have to start the application process to see if you're eligible. The process is straightforward, as you have to enter personal and financial information.

Keep in mind that you should have a credit score of 690 FICO minimum to apply for loans on Lightstream. Plus, you must have a few years of credit history.

Lightstream Fees: 4.7/5

Lightstream's fees are lower as compared to the average for lenders. The company doesn't have an origination fee, and there are no late fees or prepayment penalties. Plus, you get discounts to set up autopay.

Lightstream Terms and Requirements: 4.5/5

You must have fair to excellent credit (690 FICO or above) and a few years of credit history to qualify for Lightstream personal loans. Plus, you need a source of income, a Social Security Number, and an email address.

Lightstream Customer Support: 4.5/5

Customer support is available throughout the day, as you can contact the company by phone or email.

8. Avant — Emergency Loan With Flexible Repayment Terms

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Avant Pros

  • Quick funding
  • The payment date can be changed
  • Pre-qualification available

Avant Cons

  • No secured or co-signed loans
  • Low loan amounts

Avant offers the best emergency loans for unexpected expenses to people with low to fair credit scores. While you don't need to have a high credit score, Avant does charge an origination fee for the loan.

Avant Application Process: 4.6/5

You can get a rate quote from Avant through their website without affecting your credit score. It takes about 5 minutes to fill out the application, and you will need to provide basic information like your employment status and personal details.

The platform lets you take loans for a wedding, consolidating debt, automotive repairs, medical expenses, home improvements, and emergency costs.

Avant Fees: 4.6/5

Avant's fees aren't exactly low, but they're consistent with the market standard. However, an additional expense when applying for a loan on Avant is the origination fee, which is a fee you pay to the lender for processing your loan application.

Avant does not offer any discount for auto payments.

Avant Terms and Requirements: 4.6/5

You need to have a credit score of 580 or higher. Plus, you should at least be 18 years of age with a bank account, a steady source of income, and US citizenship.

Avant Customer Support: 4.5/5

You can contact customer support through different channels on any day of the week. Avant also has a mobile app where you can check your loan status and manage other aspects, such as repayment.

9. LendingPoint — Most Transparent Rates

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LendingPoint Pros

  • Pre-qualification available
  • The payment date can be changed
  • Quick loans
  • Decent loan amounts

LendingPoint Cons

  • Joint loans are not available
  • High APR
  • Origination fees

Lending Point is one of the best personal loan providers that allow you to qualify for a loan with a credit score as low as 580.

It's important to note that Lending Point's APR is higher than average, but the flexible payment terms could be worth it depending on your financial situation.

LendingPoint Application Process: 4.5/5

You can only apply for an unsecured personal loan on Lending Point.

Like any other lender, Lending Point asks for your personal and financial information. You can also use the pre-qualification tool on Lending Point's website to get an idea of what kind of loan you could qualify for without harming your credit score.

Lending Point does not offer loans in West Virginia or Nevada.

LendingPoint Fees: 4.5/5

Lending Point charges an origination fee to process your loan. It can be as high as 6% of your loan amount. The APR is comparable to other lenders.

However, Lending Point does not offer any discounts for setting up autopay. On the plus side, there are no fees for prepayment.

LendingPoint Terms and Requirements: 4.6/5

You must be 18 years old, have a steady source of income, a minimum credit score of 580, and a bank account to apply for a loan from Lending Point. If you want to check your rate without affecting your credit score, you can use the pre-qualification feature.

LendingPoint Customer Support: 4.5/5

The customer support on Lending Point is quite responsive. You'll also find financial education resources on the lender's website.

10. Prosper — For Joint Loan Applications

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Prosper Pros

  • Allows joint loan applications
  • Decent loan amounts
  • The payment date can be changed

Prosper Cons

  • No autopay discounts
  • Late and origination fees
  • Only two repayment terms
  • Long funding time

If you need a joint loan, Prosper is a great option. With Prosper, you can apply for a loan with a cosigner, increasing your chances of approval.

Prosper Application Process: 4.5/5

The application process is just like any other lender. First, you must provide your financial and personal information. Also, you need a minimum credit score of 630 FICO with a credit history of two years.

Prosper says that it funds most loans within three days. However, if your loan request hasn't been approved within 14 days, it expires.

Prosper Fees: 4/5

Prosper charges a high APR as compared to its competitors. The origination fee is between 2.41% and 5%. If you're late on a payment, you'll be charged a fee for that too. Plus, there are no discounts for setting up autopayments.

Prosper Terms and Requirements: 4.5/5

You must have a high credit score to qualify for a Prosper loan. The minimum credit score requirement is 630 FICO with two years of credit history.

Prosper Customer Support: 4.4/5

Prosper's customer support is not available 24/7. You can only reach the support team during limited hours. The platform does not have an app either to manage loans. However, you'll find educational material on the website.

Ranking Methodology:

When putting together this list of the best emergency loans, we considered several factors. Here are some of them:

  • Interest Rates: First, we looked at each lender's interest rates. We took both the average interest rate and the maximum interest rate into consideration to determine whether a lender was affordable or not.
  • Requirements: We also looked at the requirements each lender has in place. We considered credit score requirements, employment history requirements, and whether or not collateral is required.
  • Reputation: We read through many customer reviews to get an idea of what borrowers thought of each company. We paid particular attention to complaints about hidden fees and repayment difficulties.
  • Application Process: When you're already stressed out due to the unprecedented expense of an emergency, the last thing you need is a lengthy and complicated loan application process. We looked for lenders with quick and easy application processes.

Get a Loan Fast With CashUSA

Buying Guide for Best Emergency Loans

When you are in a bind and need cash fast, an emergency loan can be a lifesaver. Here are some questions to help you understand the different types of emergency loans and what to look for when choosing one.

What are the Types of Emergency Loans?

There are two main types of emergency loans: secured and unsecured. Secured emergency loans are backed by collateral, such as a car or home. Unsecured emergency loans are not supported by collateral and may have higher interest rates.

How Fast Can You Get an Emergency Loan?

When applying for urgent loans for bad credit, you can expect to wait a week or longer for the approval process. Once you're approved, the funding typically takes one business day.

What's the Easiest Loan to Get Approved For?

If you need cash loans, payday loans are typically the easiest to get approved for. Payday loans are designed for people with bad credit who need a quick cash infusion.

What's the Ideal Loan Repayment Term?

It depends on the type of loan you're taking out. For most payday loans, the repayment term is typically two weeks. For installment loans, the repayment term can be up to a year or longer, same goes for a personal loan.

What Are the Best Lenders for Emergency Loans?

The best lenders for emergency loans offer fast approval times, flexible repayment terms, and high loan amounts.

When choosing an emergency loan, it's essential to read the fine print and understand the terms and conditions. Compare interest rates, fees, and repayment terms before choosing a loan.

What are Joint Loans?

Joint loans are loans that two or more people take out together. Joint loans can be helpful if you have bad credit and need a cosigner to help you qualify for a loan.

Top 5 Emergency Loans: Comparison

LenderLoan Type Credit TypeLoan Amount

CashUSA

Secured 

Low to fair 

$500 to $10,000

BadCreditLoans

Unsecured 

Poor to fair 

$500 to $5,000

PersonalLoans.com

Unsecured 

Variable 

$1,000 to $35,000

Citrus-Loans

Unsecured 

Variable 

$2,400 to $30,000

MoneyMutual

Unsecured 

Fair to high 

$200 to $5,000

A Round-Up of Best Emergency Personal Loans

Summing up, there are many urgent loans for bad credit that can help you get through tough times. If you have bad credit, it’s essential to shop around and find the best loan for your needs. Be sure to read the terms and conditions carefully before signing any loan agreement.

You can also qualify for larger loan amounts and longer repayment terms with low APR if you have a fair to high credit score.

CashUSA is the best place to find quick loans since you get access to multiple lenders, allowing you to select the best emergency loans based on your requirement.

While PersonalLoans is one of the top personal loan services to consider for longer repayment terms.

Thanks for reading!