LendingPoint offers loans of $2,000 to $36,500 with terms of 24 to 60 months. You may pay an origination fee of 0% to 6%, which is factored into its APR range-9.99% to %. Although LendingPoint APRs are relatively high, you might qualify with a credit score as low as 580. Plus, LendingPoint has a large lending footprint, offering personal loans in 48 states and the District of Columbia. Its loans aren't currently available in Nevada and West Virginia.
Best for Repayment Flexibility : Avant
If you need more emergency loan funds in the future or want to see if you qualify for a better rate, Avant may allow you to refinance your loan. This type of repayment flexibility isn't offered by many of its competitors.
Besides allowing applicants with credit scores as low as 580 to potentially qualify for an emergency loan, one thing that sets Avant apart from competitors is that it offers loan refinancing. This is beneficial if you want to extend or shorten your repayment term, get more money, or see if you can qualify for a lower interest rate. Avant offers loans ranging from $2,000 to $35,000 with flexible repayment terms of 24 to 60 months to borrowers in 42 states.
Avant charges an origination (administration) fee of up to 4.75% if you decide to proceed with the loan. This fee is factored into the loan's APR range of 9.95% to %. Although this APR range is relatively high, the ability to get approved for a loan even if you have bad credit is a plus. If approved, you can get funded as soon as the next business day.
Avant will use a soft credit check to see if you're likely to qualify for a loan (a hard inquiry will be submitted if you decide to proceed)
Not only is PenFed's membership open to anyone in the United States, but even people with less-than-perfect credit could get qualified for one payday loans in North Ridgeville OH of its emergency personal loans. Plus, you can apply for a PenFed personal loan before you become a member.
PenFed Credit Union is our pick for the best credit union for emergency loans for bad credit. It's simple to become a member, and you don't need a membership to see if you'll qualify for a loan. Plus, you might be able to get approved with a credit score as low as 620.
Most credit unions restrict membership to individuals who meet certain criteria, such as living in a certain place or working for a specific employer. PenFed Credit Union membership is open to people in all 50 U.S. states and the District of Columbia, as well as individuals living on military bases in Guam, Okinawa, and Puerto Rico.
Through PenFed, you can get a personal loan of as little as $600 up to $50,000, with repayment terms ranging from 12 to 60 months. If approved, you may get funded as soon as the next business day. Plus, PenFed doesn't charge origination fees, and it offers relatively low APRs ranging from 4.99% to %.
The maximum interest rate credit unions can charge on loans is 18% through at least . This interest rate ceiling, combined with the flexible underwriting criteria used by most credit unions, means you may be able to get a lower interest on a personal loan from a credit union than another type of lender. Even so, shop around to ensure you find the best possible rates and terms.