5 Urgent Cash Loans for Bad Credit Score People

An urgent cash loan is a term used to describe several different methods of accessing cash loans for sudden, unexpected expenses. Financial urgency come in many shapes and sizes. Perhaps your vehicle can break down, and the repairs you need to get the vehicle back on the road are expensive.

Another financial urgency could stem from a job loss, an illness, a funeral, or any number of unexpected circumstances. One of the most common types of urgent cash loans and often one of the most affordable options is a personal cash loan.

If you’re facing any situations without enough savings to get through it, and you need to borrow money in a hurry, an urgent cash loan could help you cover the cost.

Accessing the right cash loan can be stressful when you need urgent access to cash, but if you have the added complication of bad credit, getting an urgent cash loan may seem impossible. Fortunately, that’s not the case. You may still have urgent cash loan options even if you have bad credit scores.

Sources of Urgent Cash Loan

Multiple types of lenders offer urgent cash loans for bad credit, including:

  • Online lenders
  • Credit unions
  • Traditional banks
  • Credit card companies (cash advance)
  • Relatives and friends
  • Payday lenders

Top Urgent Cash Loan Companies


This cash loan company can help eligible loan borrowers with bad credit scores as low as 550 get approved for urgent cash loans of up to $50,000. Upgrade also offers repayment terms of up to 84 months.

Urgent Cash Loan

Not only is the cash loan company able to approve eligible borrowers with bad credit scores as low as 550 for emergency loans, but the company may offer a secured option if the borrower can’t qualify without collateral or would like a better rate. These value-added features make Upgrade stand out from its competitors.

The urgent cash loan company offers loans in 49 states in the USA, excluding West Virginia and the District of Columbia. Eligible loan borrowers can get personal loans in amounts ranging from $1,000 to $50,000, with flexible repayment terms of 24 to 84 months and current APRs of 5.94% to 35.97%.

These rates are inclusive of origination fees of 2.9% to 8%, As is typical, the better your credit score, the lower the Annual Percentage Rate you’re likely to get with Upgrade.

Upgrade also offers an Annual Percentage Rate discount to those who enrol in autopay and use their loan proceeds to pay off some existing debt directly. If your loan is approved, you may be able to receive funding as soon as one business day.

Rocket Loans

If you need an urgent cash loan, a personal loan from Rocket Loans could be a great option. Loan borrowers may receive funds as soon as the same day they apply, which can help cover an urgent expense.

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This urgent cash loan company offers quick funding for its loans. In certain cases, loans may be disbursed to borrowers as soon as the same day of loan approval This can be beneficial if someone needs money quickly to cover an urgent expense.

Additionally, Rocket loans have a low credit score requirement; loan borrowers may qualify for a personal cash loan with a bad credit score of just 580. The loan company also lets borrowers pre-qualify with a soft credit check, so they can view rates and terms they might qualify for without impacting their credit score.

As with other loan lenders, if an individual decides to move forward with a loan, the person will undergo a hard credit check. Rocket loans offer loans of $2,000 to $45,000, with repayment terms of 36 or 60 months.

The loan company’s current Annual Percentage Rates range from 5.97% to 29.99%, and borrowers pay origination fees between 1% and 6% of the total loan amount. The origination fee is deducted from the borrower’s total loan balance, so the amount to receive will be slightly lower than the amount to apply for.

Avant Personal Loans

This loan company personal loans can be used to consolidate debt, pay for unexpected medical expenses or home repairs, and more. The option to cover a variety of costs with few restrictions makes Avant a great option for loan borrowers seeking flexibility.

Urgent Cash Loan

The personal loans collected from Avant can be used to pay for almost any expense, except higher education costs. Whether a loan borrower wants to consolidate high-interest debt or needs funds to offset the cost of unplanned surgery, a loan from Avant is worth considering.

Besides allowing loan borrowers with bad credit scores as low as 580 to potentially qualify for an urgent cash loan, another thing that sets Avant apart from competitors is that it offers loan refinancing. This can be beneficial if a loan borrower wants to extend or shorten its repayment term to apply for a larger loan or see if he. she 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 in the United States. The loan company charges an origination fee of up to 4.75% if the loan borrower decides to proceed with the urgent cash loan.

This fee is factored into the loan’s current Annual Percentage Rate range of 9.95% to 35.99%.7 Although this Annual Percentage Rate range is relatively high, the ability to get approved for an urgent cash loan even if the borrower has bad credit is a plus.

Avant will use a soft credit check to see if the loan borrower is likely to qualify for a cash loan (a hard inquiry will be submitted if the loan borrower decides to proceed). If the loan is approved, the loan borrower can get funded as soon as the next business day.

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This is a great option for fee-conscious borrowers, as there are no late payment fees for their cash loans. Loan borrowers also won’t need to worry about incurring a prepayment penalty if they loan borrower chooses to pay off its loan early.

Urgent Cash Loan

LendingPoint is a great option if someone is looking for an urgent cash loan with minimal fees. This loan lender doesn’t charge late payment fees or prepayment penalties, and it also allows loan borrowers to pre-qualify for a cash loan without hurting their credit

As part of the pre-qualification process, LendingPoint runs a soft credit check to see which rates and terms a loan borrower might get, though a hard credit inquiry will be used if the borrower decides to proceed with the cash loan.

If the urgent cash loan is approved, the borrower can get funding as soon as the next business day. LendingPoint offers loans of $2,000 to $36,500 with terms of 24 to 60 months, and loans are available to those with bad credit scores as low as 580.

The loan company’s loans have origination fees of 0% to 6%, and these fees may be deducted from the total loan funds before they’re disbursed to the borrower. The company’s current Annual Percentage Rates are relatively high, ranging from 9.99% to 35.99%.12

LendingPoint has a large lending footprint, offering personal loans in 48 states in the United State and the District of Columbia. The loan company’s loans aren’t currently available in Nevada and West Virginia.

Navy Federal Credit Union

This is the last urgent cash loan lender on our list that is offering personal loans ranging from $250 to $50,000. Plus, it has no minimum credit score requirement and same-day funding is available. The loan company offers loans as small as $250 and as large as $50,000, with current Annual Percentage Rates ranging from 7.49% to 18%.2.

The loan company also has no minimum credit score requirement for loan borrowers, and it is possible to get funded the same day the urgent cash loan is approved. Many other lenders may take several days to disburse loans, which can be problematic if an individual needs urgent funding for an urgent expense.

Navy Federal’s urgent cash loans are available in all 50 USA states, and it charges no origination fees. Borrowers can also benefit from long repayment terms of up to 180 months for Navy Federal home improvement personal loans, much longer than many other credit unions.

The loan borrower will need to be a Navy Federal Credit Union member to apply for its loans. Membership is only open to members of the

  • Armed forces
  • Veterans
  • Retired service members
  • Qualifying family members
  • Department of Defense personnel.

While this loan company does offer several benefits for borrowers seeking urgent cash loans, it doesn’t have a pre-qualification option. This means that borrowers need to submit a full application and undergo a hard credit check to determine if they qualify for a loan. A hard credit check can cause the borrower’s credit score to dip, so that’s something to consider as someone comparing loans.

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How to apply for an Urgent Cash Loan if you have a bad credit score

Before applying for an urgent cash loan, first, gather your personally identifiable information (e.g.,

  • Social Security Number
  • Date of birth
  • Home address
  • Income information
  • Details about the funding you need (e.g., loan amount and purpose).

This will make your loan application process easier, as loan lenders will require you to provide this information. You’ll usually submit a preliminary application with basic details to see if you can qualify, which won’t affect your credit if the loan lender uses a soft credit check.

The loan lender will tell you if you can qualify and the rates and terms you might be able to receive. If the rates and terms are acceptable to you, you’ll proceed with the full application. A hard credit inquiry will be performed, which will affect your credit scores, and you may need to provide additional documentation, like pay stubs or bank statements.

If your urgent cash loan is approved you’ll need to review and accept the final loan terms. Then, the loan lender will send you the funds in the manner specified in your application.

For instance, depositing the funds into your checking account or disbursing the funds directly to your creditors. Finally, you’ll need to set up your account via an online portal or mobile app so you can manage your urgent cash loan.

In Conclusion

Having bad credit scores doesn’t mean you can’t qualify for an urgent cash loan. Rather, you’ll need to be able to show that you have income sufficient to repay the loan, usually measured by your debt-to-income ratio.

Plus, your credit reports will need to show that whatever caused your bad credit score has been resolved (e.g., you’re not delinquent on any of your loans and you’ve resolved any tax liens or other judgments.)

If your credit scores issues haven’t been resolved or you don’t have enough income to repay the cash loan on your own, then you might consider applying for an urgent cash loan with a co-applicant. This is because you’ll be able to rely on your co-applicants good credit history rather than your own to get qualified.

If you choose this option, make sure to repay the cash loan or you could damage your relationship with your co-applicant. Remember, delinquencies will affect your co-applicant credit scores.

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A blogger who blogs about Business, Information Technology, Digital Marketing, Real Estate, Digital Currencies, and Educational topics that can be of value to people who visit my website

About Lawrence

A blogger who blogs about Business, Information Technology, Digital Marketing, Real Estate, Digital Currencies, and Educational topics that can be of value to people who visit my website

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