Emergency Loan Bad Credit 2023: 8 Best Providers for Fast Cash with No Credit Check

If you are in dire need of money but you have no emergency funds, then you are not alone. Over 150 million Americans are in the same situation, but today is your lucky day. Because we are going to share with you the top 8 providers of emergency loans for bad credit in the US in 2023.

Even with extremely bad credit, our recommended lenders can bring you the emergency cash you need with same day disbursement and a fair APR. From $100 all the way to $50,000, you can use our recommended lenders to cover any type of unexpected expenses.

Check out our ranking below to borrow the urgent money you need right now.

Top 8 Providers When You Need an Emergency Loans For Bad Credit in 2023

We know you are in dire need for fast money, and here you have our recommended lenders for fast emergency cash:

1. Credit Clock: Best Provider of Emergency Loans for Bad Credit
2. Fast Money Source: Highest Emergency Loan Bad Credit
3. Loan Raptor: Fastest Bad Credit Emergency Loans
4. Fast Loans: Best for Extremely Bad Credit Emergency Loans
5. Honest Loans: Best for Affordable Emergency Loans for Bad Credit
6. Big Buck Loans: Best for Low Income or Unemployed Customers
7. Low Credit Finance: Best for No Credit Check Emergency Loans
8. Heart Paydays: Best for No Credit History

Click on the name of your favorite lender to start the application process – thanks to the immediate approval and same day disbursement, you can rely on our recommended lenders to get the emergency money you need right now.

If you would like more details about each one of our recommended providers of emergency loans for bad credit, then you can find our reviews below.

1. Credit Clock: Best Provider of Emergency Loans for Bad Credit

Credit Clock brings the best emergency loans for bad credit because it offers the most important benefits such as a low APR, flexible loan amounts from $100 to $5,000 for any type of emergency, loan terms up to 24 months, and a high approval rate for extremely bad credit, low income, unemployed customers and no credit history.

We've tested all of their available emergency loans from $100 to $5,000, and even with the highest risk profile of extremely bad credit (300 points credit score) and low income, they quoted us a competitive interest rate. Making it a highly reliable option because it also offers same day disbursement and immediate approval with 24/7 service even during holidays.

2. Fast Money Source: Highest Emergency Loan Bad Credit

If your emergency requires a big sum of money such as $1000, $5000, $10,000 or even $50,000, then you should opt for Fast Money Source. Because it offers emergency loans for up to $50,000 with a low APR, fast disbursement and a high approval rate for bad credit and no credit history.

Even though other options such as Loan Raptor, Fast Loans and Honest Loans also offer big loans up to $50,000, we consider Fast Money Source as the best option in the category because it keeps the APR low even for big sums of money, and the approval is as fast as if you requested $500 or $1,000. It's the most reliable lender for big emergency loans even if you have bad credit.

Furthermore, this lender also offers a higher approval rather than our other providers when you want to borrow a significant sum of money. Even if your debt to income ratio is high, Fast Money Source can approve your application.

3. Loan Raptor: Fastest Bad Credit Emergency Loans

If your emergency cannot wait any longer, then apply for a loan through Loan Raptor right now because it's the provider with the fastest application, approval and disbursement in the industry of emergency loans for bad credit. Borrow from $500 up to $50,000 with a competitive interest rate and flexible loan terms.

It's especially fast for loans from $500 up to $5,000 – because they're capable of processing your application immediately and disburse the money in 1-2 hours. For bigger sums it's still fast, but the disbursement can take up to 1 business day. Once you become a regular client, the process will be immediate.

4. Fast Loans: Best for Extremely Bad Credit Emergency Loans

All of our recommended providers can approve you even if you have bad credit, but when it's  a very low credit score, then you need a specialized provider like Fast Loans. Offering the highest approval rate for borrowers with extremely bad credits, you can use it to borrow anywhere from $100 to $50,000 with a competitive APR and fast disbursement. 

All of our recommended lenders offer a high approval rate for customers with bad credit, but Fast Loans stands out because they don't care if your score is as low as 300 points, they can still approve you. 

However, it's worth noting that they will usually charge the upper range of their APR scale of 5.99% to 35.99%, for example 15% to 24% because it's a higher risk transaction. If you opt for a short-term emergency loan, then you will counteract the effect of the APR and hence you will save money.

5. Honest Loans: Best for Affordable Emergency Loans for Bad Credit

Honest Loans is the king of affordable emergency loans with bad credit because it usually charges the lower range of their APR scale of 4.99% to 35.99%, regardless of your credit score or history. And since you can borrow from $100 to $50,000 – it's an excellent choice for getting emergency money at an affordable rate.

Honest Loans also excels when it comes to loan terms, but it allows you to repay the loan on terms that suit you. Be it 3 months or over 24 months, you can rely on this lender to obtain an emergency loan tailored to your own needs and goals.

6. Big Buck Loans: Best for Low Income or Unemployed Customers

Low income or being unemployed can be a problem when applying for a loan, and yes that includes emergency loans. These lenders rely on your income to determine your creditworthiness, but Big Buck is the exception to the rule because it offers the highest approval rate for Americans with low income or who are currently unemployed.

You can borrow from $100 to $5,000 and you can use alternative sources of income such as self-employment, business profits and even unemployment benefits to get approved. Big Buck Loans is ready to analyze your application to bring you the emergency cash you need right now.

The APR tends to fluctuate from 15% to 35.99% in most cases if you have low income and bad credit, but you can reduce the impact of the interest rate by opting for a short-term emergency loan.

7. Low Credit Finance: Best for No Credit Check Emergency Loans

Do you have several negative items on your credit report? This can be a problem when applying for a loan, and that includes emergency loans for bad credit. We are not here to judge you, but to bring you solutions, and this is why we recommend you to apply for a loan through Low Credit Finance, because they don't perform credit checks.

They don't care about what's in your credit report – they will simply analyze your income and debt to income ratio, to let you borrow from $100 to $5,000. And it's also one of the fastest emergency loan lenders in the industry, offering same day express disbursement.

The APR offered by this lender tends to be high (around 12% to 35%) but it's a small price to pay in exchange for getting emergency money fast without any sort of hard credit check.

8. Heart Paydays: Best for No Credit History

If you have never taken out a loan or any other credit product before, then it's sure that you have zero credit history. And this can be a problem for most banks or lenders, but not for Heart Paydays. They don't pay attention to your credit history, all they care about is your income and debt to income ratio.

Heart Paydays is ready to lend up from $100 to $5,000 with a low interest rate, fast disbursement and flexible loan terms up to 24 months. And based on our experience, they also offer a high approval rate for customers with extremely bad credit and low income.

How to Apply for an Emergency Loans for Bad Credit

Let's move fast – here's how you can apply for an emergency loan for bad credit in 5 minutes or less to receive the money you need today:

1. Pick a Lender for Emergency Loans with Bad Credit

Check out our ranking to find your ideal lender. Choose it based on the "Best for" recommendation to apply for an emergency loan through a provider that matches your needs and goals.

2. Enter How Much You Want to Borrow and For How Long

Depending on the lender you choose, you can borrow from $100 to $50,000. Enter how much you'd like to take out and your preferred loan term, in order to continue with the application process.

3. Complete the Application Form

In the following sections of the application form, you will have to enter information such as your name, last name, address, income details, employment situation, living costs, driving license number, etc. Be precise and honest when entering the information, because this will help you to get approved.

4. Send the Application and Find Out If You Are Pre-Approved

Once you've entered all the requested information, send the application form to find out if you've been pre-approved. The platform will automatically let you know if you have met the lender's eligibility requirements, and now let's go onto the final step. 

5. Accept the Contract and Receive the Emergency Money

You will receive a final contract, read it and accept it to complete the process. After that, the lender will proceed to disburse the emergency loan money into your bank account. This process can take from 1 to 24 hours, and it will depend on the platform you choose and the amount you want to borrow.

Eligibility Requirements for Emergency Loan Bad Credit

Find out if you are likely to be approved by our recommended lenders by checking the list of eligibility requirements:

• You must be a US citizen or permanent resident

• You must be 18 years or older

• You must have an active phone number and email address

• You must have a home address

• You must have an active bank account

• You must have a steady and verifiable source of income

• You must have an acceptable debt to income ratio (35% or lower)

• You must provide details about your employment situation

• You must disclose your living costs

If you meet these eligibility requirements and you're willing to bring as much information as possible about your income source, living costs and employment situations, then our bad credit emergency loan providers are highly likely to approve you.

Why Trust Our Recommendations When You Need an Emergency Loan for Bad Credit

Here you have the reasons why you can rely on our recommended providers to get the emergency cash you need:

• Registered and Licensed Lenders

• More than 100 Hours of Research and Analysis

• Lenders Carefully Chosen by Finance Specialists

• Lowest APR and Finance Charges for Bad Credit Emergency Loans

• Approved and Recommended by 1000s of Satisfied Borrowers

Each one of our recommended providers has been carefully analyzed to make sure that it can bring you an emergency loan under the best terms and conditions. Low APR, fast disbursement, clear and honest contracts, and flexible loan amounts – this is why you should apply for a loan through our selected providers. See here our article for the Best Bad Credit Loans

Compare Our Top 8 Providers of Emergency Loans with Bad Credit

If you don't know what lender you should choose, then check out our comparison table to find out the best option for you:

Now you can choose your ideal bad credit emergency loan provider to get the money you need right now. Just click on the name of your preferred lender to begin the application process.

It's worth noting that even though all of them offer bad credit emergency loans with the same range of APR, Honest Loans, Credit Clock and Fast Money Source offer the lowest interest rate in the majority of cases. Making them the most affordable emergency loan providers in 2023.

What Is An Emergency Loan for Bad Credit?

It's a special type of personal loan that is approved and disbursed fast to afford unexpected expenses, and that doesn't perform hard credit checks because it doesn't rely on credit score to determine the borrower's creditworthiness. This is why it's an ideal choice for Americans with bad credit who need money fast, because these loans fulfill this purpose perfectly.

Emergency loans for bad credit are flexible and customizable, because you can borrow from $100 up to $50,000, and you can repay the loan in 3 to 24 months. Be it for small expenses or a big and serious emergency, you can rely on this type of lending to cover any type of urgent situation that requires fast cash.

Bad credit emergency loan providers rely on factors such as your income, current debt to income ratio, employment situation, living costs and education to determine your creditworthiness. Thanks to this, you can obtain the urgent money you need even with extremely bad credit, zero credit history or if you're unemployed, because lenders like Fast Loans, Fast Money Source and Loan Raptor accept customers on benefits.

These loans are regulated independently by each one of the US states that allow this type of lending. We invite you to check the local regulations and restrictions that apply on bad credit emergency loans for further information about your rights as a borrower.

Why Are Bad Credit Emergency Loans Highly Demanded in 2023?

The current economic situation of the United States has left millions of Americans in dire need for fast cash because they cannot even afford a $500 emergency. And given that millions also have bad credit, it's impossible for them to get approved by a bank or traditional lender. This is why bad credit emergency loans have become hugely demanded in 2023, and here we are going to explore all the reasons that are fueling their popularity.

Millions of Americans Don't Have Emergency Funds

Did you know that over 50% of Americans cannot afford a $500 emergency? It shows that millions of Americans don't have emergency funds, a situation that forces them to seek out alternative ways to cover unexpected expenses. 

From all the available options such as borrowing from relatives or friends and applying for a collateral loan, emergency loans for bad credit have become a top ranked choice thanks to its fast approval and disbursement, high approval rate and competitive APR.

Bad Credit is a Prevalent and Frequent Problem

More than 50 million Americans have bad credit because their credit score has been labeled as "Fair" or "Poor", and this means one thing: a very low chance at getting approved for a loan at a traditional bank or lender. Putting millions of Americans in distress because they cannot obtain the emergency money they need, and this is why they resort to bad credit emergency loans.

You can also relate to how hard it is to improve your credit score, because it can take up to 6 months to see any improvement. And unfortunately, emergencies cannot wait. Because even if you work with a credit repair company, it will take several months to land noticeable results.

Emergency loans for bad credit rely on income, employment situation, debt to income ratio and other factors to determine the borrower's creditworthiness, in turn making it easier for you to get approved.

Inflation Killing the Americans' Wages and Spending Power

Inflation is the silent tax that devours Americans' wages and spending power, leaving them with less money in their pockets. With the passing of months, this situation is not improving because we are setting at a 4% inflation rate, and people are pessimistic about the next update on inflation that is scheduled for release on July 12 at 8:30 a.m. Because the USD is weakening, and hence Americans expect inflation to rise.

This is another reason why people are relying on emergency loans, because when the wages and spending power decrease, you might end up needing extra money to make ends meet. And emergency loans fulfill this purpose for millions of Americans in 2023.

The Financial Situation of Americans Didn't Improve in 2022

According to Credit Karma, 68% of Americans reported that their financial situation didn't improve in 2022. From getting laid off to greater living costs, millions of Americans report that they have less money in their pockets and bank accounts, especially for emergency expenses. This is why more people are relying on emergency loans in 2023, because it's the only source of money they have for affording unexpected expenses.

If we factor in that 50 millions of Americans have bad credit, and nearly 150 million don't have emergency funds, now you can easily understand why they rely on bad credit emergency loans. Because it's an easy way to get fast money, even if your income is stuck, you have debts or if you have eligibility issues such as bad credit, no credit history or if you're unemployed.

Best Uses for Bad Credit Emergency Loans

Emergency loans for bad credit are a godsend in a wide myriad of situations, here you have a list with the best uses for them according to borrowers like you:

• Medical bills

• Car repairs

• Home repairs

• Travel expenses

• Dental bills

• Unexpected business expenses

• Utilities

• Paying other debts

• College fees

• Transportation

• Groceries
• Funeral expenses

Since our recommended providers won't ask why you need the money, you can use these loans for any type of situation. Be it fixing your car, investing in your business, repairing your home or paying medical bills, you can rely on our recommended emergency loans for bad credit to cover all of your expenses.

How to Build an Emergency Fund for Unexpected Expenses

Even though we are here to help you by recommending the best lenders for emergency loans with bad credit, we are also here to help you prevent this situation. Here's how you can build an emergency fund for unexpected expenses:

1. Set a Clear Goal: Specialists recommend saving from 3-6 months worth of living costs – this is the goal you need to set up. If you want to make it even safer, then aim for 9-12 months worth of living expenses. If you lose your job or you have unexpected expenses such as medical bills, then you will be able to rely on this fund to cover these emergencies
2. Decide How Much to Save Per Month: You should work on building up your emergency fund slowly but steadily. We recommend you to put 10% to 20% of your monthly earnings into your emergency fund until you reach your goal (3, 6, 9 or 12 months worth of living expenses)
3. Set Up Clear Rules: As it's an emergency fund, you should exclusively use it for emergencies. Otherwise it's easy to lose control and end up spending the money on unnecessary purchases
4. Consider Investing: It's an emergency fund and hence it should be easily disposable, and this is why we recommend you to explore investment options that allow you to make your emergency fund grow but without restricting its disponibility. This will help you to reach your goal much faster
5. Save a Share of Unexpected Money: If you get a promotion, you land a big sale, you get a bonus or any other source of unexpected income, then you should take this as an opportunity to make your emergency fund grow
6. Work on Improving Your Credit Score: You are here because you need an emergency loan for bad credit, and hence you should also work on raising your credit score. Because this will allow you to take out an emergency loan at a lower interest rate when you need it

Our recommended lenders will always be there for you when you need emergency cash, but you should start working on a proper emergency fund to principally rely on it when you have to afford unexpected expenses.

Methodology

We have spent over 100 hours building this ranking, after analyzing all the available providers of emergency loans for bad credit in the US. Here's our methodology, which will bring you even more reasons to rely on our recommended platforms:

• 50+ Data Points from Each Emergency Loan Provider for Reliable Reviews

• In-Depth Research About each Lender

• Complete Analysis about Bad Credit Emergency Loan Offers

• Full Regulatory Compliance

• Reviews and Ratings by Finance Specialists

Our ranking is backed up by over 50 data points from each emergency loan provider, to bring you complete, transparent and honest reviews about each lender, to help you make the best decision for your finances.

F.A.Q

For further information about emergency loans with bad credit, we invite you to check out the answers to the most frequently asked questions.

Are urgent loans the same as emergency loans for bad credit?

Yes, they both are used to afford unexpected, urgent or emergencies. You can get approved with bad credit (for example, 350 points) and even if you have zero credit history, because these lenders don't perform hard credit inquiries, they rely on alternative factors such as your income source, current debt to income ratio, employment, education, etc.

What is the lowest credit score you can have and still get approved for an emergency loan?

You can get approved for an emergency loan for bad credit even with a credit score of 300 points. Because these lenders don't rely on credit score to determine your creditworthiness, you don't have to worry about having a low credit score.

How much can you borrow with an emergency loan for bad credit?

Our recommended providers can lend you up to $50,000 with a bad credit emergency loan. The sum is subject to approval and the local regulations of your state for emergency loans. Therefore, we invite you to send your application to find out how much you can borrow.

How fast can I get an emergency loan with bad credit?

You can get approved immediately and receive the money the same day. Emergency loans for bad credit are exclusively designed for urgent and unexpected expenses, hence the fast approval and disbursement speed. 

Will an emergency loan affect my credit score?

No, if you repay it on time then it will improve your credit score. Since our recommended lenders don't perform hard credit checks, they won't affect your credit score during the application process. To the contrary, if you repay your loan on time, then it will boost your credit score because our recommended lenders report to credit bureaus.

Can I get a bad credit emergency loan with low income?

Yes, you can get a bad credit emergency loan with low income. As long as you borrow an amount that you can repay with your current income level, then our recommended lenders will approve your application and disburse the emergency money into your bank account.

Does a bad credit emergency loan offer guaranteed approval?

No, emergency loans for bad credit don't offer guaranteed approval because they need to analyze your application to determine your creditworthiness. However, since they don't check your credit score, it's fairly easy to get approved even with extremely bad credit, low income or no credit history. You may also be accepted for a Tribal Loan if you have a bad credit score.

Can you use an emergency loan bad credit for any purpose?

Yes, our recommended lenders won't ask questions about why you need the money. Complete the application process and the lender will disburse the emergency money into your bank account, ready for you to use as you please.