5 Best Quick Loans for Emergency Cash

It may happen sometimes that all your budgeting and saving money goes in vain. You need money in a specific situation but you don’t know what to do.

In this case, you require a quick loan. Various companies can lend you money easily. But, you should choose the right one for you.

Each company has different requirements and policies. So, you should know which one will suit you.

To help you in choosing the best company, we are going to discuss the five best quick loans for emergencies.

1. Upgrade

Upgrade has vast online and mobile banking and credit card services. It was launched in 2017 and since then it is expanding.

There are almost 10 million applicants for it and it has made $3 billion in credit. It provides loans to those people who have poor credit history. Your minimum score should be 580 to have the loan.

It can give you 1000 to 50,000 dollars in a loan and has two to seven-year terms available. It charges the originating fee of 1.85 and 9.99 percent of the loan.

You can face $10 fees if your loan gets more than 15 days late.

The best thing about this loan is it doesn’t require any minimum income requirement. But, the lender does check the free cash flow. You should have a cash flow of $800 per month.

Moreover, you can increase your chances of getting the loan by allowing co-applicants.

2. CashUSA

CashUSA is considered the best company for payday and personal loans. If you want an emergency fund on the same day, you can go for this company.

The company doesn’t directly provide you with the loan. It connects you with a lender who gives you funds according to their terms and policies.

If your credit card score is low, you will get a loan with high interest. Expect to have a 5.99 to 35.99 percent interest rate on an emergency loan.

Moreover, you may have to pay an originating fee. It can be around 5 to 10 percent. You also have to meet the minimum income requirement.

According to the lender’s choice, you can repay your loan within 90 days to 72 months.

To be eligible for this loan, you should have your banking account. You should have your and your employer’s phone number, and you should be employed for at least 90 days.

To get the loan, you need to fill out a form. The company will check the form and will give you the approved fund.

3. LendingClub

LendingClub is a widespread lending online marketplace that was founded in 2007. It is a peer-to-peer marketplace that has almost 3 million customers.

It provides you with great loans but it is a bit less flexible than other lenders. You can get loans ranging from $1000 to $40,000 from this marketplace. The return timeline is either 3 years or 5 years.

It charged an originating fee that is 2% to 6% of the total loan. Moreover, it doesn’t have an autopay discount. Its ARPs are also quite high.

You can find it in various states except for territories of the US and Lowa.

For getting a loan, your credit score should be at least 600. It also permits co-applicants.

4. Lending Point

This online lending marketplace is from Atlanta and provides personal loans to eligible people. It is active in almost 48 states and Washington DC.

But, it doesn’t provide loans to people of West Virginia and Nevada. So, you need to be in the eligible states to get a quick loan. Just apply it online and you will get one.

You can get a loan of around $2000 to $36,500. In Georgia, the minimum loan is around $3,500. The repayment timeframe ranges from 24 to 72 months.

You should have a minimum credit score of 600 to be eligible for this loan. When your application is approved, you can get the funds on the next business day.

5. BadCredit Loans

As the name suggests, it provides loans to those people who have a bad credit history. You can get a payday loan through this company even if your credit score is too low.

It has a community of online lenders that provide $500 to $10,000 loans on short notice. In case you don’t agree with any lender of this company, it can provide you with another lender from a third party.

There is an originating fee and a high-interest rate. Your fee can vary from 1 percent to 10 percent. Moreover, expect to pay a 5.99% to 35.99% interest rate on your loan.

You should have a checking account in your name or regular employment to be eligible for the loan. You can pay within 90 days to 72 months, depending on your lender.