What counts as an emergency loan
An emergency loan is not a separate product with its own rules. It is an ordinary installment loan applied to a bill that will not wait: a car that has to run on Monday, a tooth that cannot be ignored, a shut-off notice with a date on it. What makes it an emergency is the timing, not the paperwork.
We lend $200 to $5,000 over 3 to 24 months. You can check your rate in about five minutes, and approved loans are funded by direct deposit as soon as the next business day.
| Amount | Term | Representative APR | Monthly payment | Total repayment |
|---|---|---|---|---|
| $500 | 6 months | 29.9% | $90.75 | $544.50 |
| $1,000 | 12 months | 29.9% | $97.44 | $1,169.28 |
| $2,500 | 18 months | 22.9% | $165.41 | $2,977.38 |
| $5,000 | 24 months | 22.9% | $261.62 | $6,278.88 |
Sample pricing with no origination fee, for illustration. Your rate depends on your credit profile, income, and state.
Before you borrow, spend ten minutes on these
Emergencies compress decisions, and compressed decisions are expensive. Each of these is realistically faster than it sounds and every one of them costs less than any loan we could offer.
- Ask the biller for a hardship plan. Hospitals, dentists, utilities, and landlords very often run interest-free payment arrangements. Ask specifically for the hardship or payment plan team, not general billing.
- Check assistance programmes. LIHEAP covers heating and cooling arrears and most states run emergency rent and utility funds. Dial 211 or visit 211.org to find what exists where you live.
- Try a credit union. Federal credit unions offer payday alternative loans of $200 to $2,000 with APRs capped at 28%, which beats our small-loan pricing.
- Ask your employer about earned wage access. Many payroll providers now offer it at low or no cost.
If none of those work in the time you have, an installment loan is a reasonable answer. If they do work, take them and skip us.
How fast the money actually arrives
- Check your rate, about 5 minutesAmount, income, and contact details. A soft credit inquiry, so your score is untouched.
- Review the offer, usually instantAPR, monthly payment, due dates, and total repayment before you commit to anything.
- Verify and e-sign, same dayIdentity and bank account confirmed. This is the only point a hard inquiry occurs.
- Funds sent, as soon as the next business dayBy direct deposit. Sign before the daily cutoff on a business day and it goes that evening; your own bank's posting times then apply.
Nobody can promise you money today
Transfers settle through the banking system, not through a lender's goodwill. Any site advertising guaranteed same-day cash with no credit check is describing something the payment rails cannot deliver, and is usually an advance-fee scam. See the security page for what to check.
What emergency borrowers use us for
| Situation | Typical amount | Worth trying first |
|---|---|---|
| Car repair that affects getting to work | $500 to $2,000 | Ask the garage about paying in two instalments |
| Medical or dental bill | $500 to $3,000 | Provider payment plans, usually interest free |
| Utility arrears or reconnection | $200 to $800 | LIHEAP and 211 emergency utility funds |
| Rent shortfall or a deposit | $1,000 to $3,000 | State emergency rental assistance |
| Travel for a family emergency | $500 to $2,000 | Bereavement fares, and asking the airline directly |
| Replacing a broken appliance | $500 to $1,500 | Scratch-and-dent stock, and retailer interest-free terms |
Emergency loan or payday loan
The difference is structural, not cosmetic. A payday loan is due in full on your next payday, which for most people means the same shortfall returns two weeks later, and the usual answer is a rollover with fresh fees. An installment loan splits the amount into equal monthly payments over 3 to 24 months and the balance only falls. There is no mechanism here to extend a loan by paying a fee, because we do not offer one.
The comparison is worked through in full on payday loan alternatives.
If you are already behind
Borrowing to make payments on an existing loan is the point at which a shortfall becomes a spiral, and we decline those applications. If that is where you are, a nonprofit counsellor through the NFCC at nfcc.org will cost you far less than another loan. Our position on this is set out in the responsible lending policy.
Questions about emergency loans
Speed, credit requirements, and the cheaper routes worth trying before you borrow.
How fast can I get an emergency loan?
Most approved loans are funded by direct deposit as soon as the next business day after you e-sign. Applications completed late in the day, at weekends, or on bank holidays may take one additional business day, and your own bank's posting times apply.
Can I get an emergency loan with bad credit?
Possibly. We look at income, existing obligations, and payment history as well as credit data, so applicants with fair, limited, or rebuilding credit can qualify, usually for smaller amounts at higher APRs. Approval is never guaranteed.
How much can I borrow in an emergency?
Between $200 and $5,000, within the limits your state sets. First-time borrowers are more often approved at the lower end, with larger amounts available once there is a repayment history.
Is an emergency loan a payday loan?
No. A payday loan is a lump sum due on your next payday and is commonly rolled over with new fees. Our loans are repaid in equal monthly payments over 3 to 24 months, and there is no rollover mechanism.
What if I cannot repay it?
Contact us before the due date. We can usually move a due date once per loan at no cost, and we would rather restructure than default someone. A $15 late fee applies only after a 10-day grace period.
Are there cheaper options than an emergency loan?
Often, yes. Hardship plans from the original biller, LIHEAP and 211 assistance for utilities and rent, and credit union payday alternative loans capped at 28% APR all cost less than we do. We would rather you use them.