Emergency Loans For Bad Credit


Anyone of us can face financial instability or distress when we least expect it. The problem gets even more complicated if you do not have any savings on the side yet you have urgency for funds. When applying for traditional loans, banks and financial institutions often look at technical aspects such as credit scores and credit histories.

The problem occurs when your credit score or credit history won’t allow you to qualify for a loan. This is a common occurrence among many low-income individuals who find themselves struggling to get themselves out of sticky financial situations. Fortunately for them, they can harness the power of the internet to apply for emergency loans.

Emergency Loan For Bad Credit – With Very High Approval

Best Emergency Loans For Bad Credit – Top 5 List

A quick search for “emergency loans for bad credit” will yield hundreds if not thousands of results. However, this market is filled with lenders who practice predatory loan tactics to target unsuspecting applicants. To make sure that you get to choose from the most reliable brokers and lenders for accessing emergency loans, we have come up with a brief list of the best payday loan providers.

  • Viva Payday Loans – Best for urgent emergencies, cash in 15 mins
  • Money Lender Squad – Best for wide range of loan options
  • Heart Paydays – Best for quick decisions with no hassle
  • Credit Clock – Best for no phonecalls and no paperwork
  • Very Merry Loans – Best for higher loan amounts

How We Rated & Reviewed the Best Providers

The online payday and emergency loan markets are booming at the moment which has also attracted a large number of fraudulent entities. There have been cases where unsuspecting applicants have been duped out of money through scam payday lenders and brokers. If you are new to this market, it can get difficult to differentiate between legitimate and fraudulent brokers and lenders. Some scam lenders even go as far as copying a legitimate website and faking customer reviews to appear more legitimate.

When reviewing and rating the different payday loan providers, we have decided to focus on two major aspects, the APR and the loan approval rate.


The APR annual percentage rate refers to the total cost of taking out the loan. This includes interest to be paid as well as any fees for application and processing. APRs for payday loans are typically higher than traditional loans.

Approval Rate

We have also taken into account the loan approval rate which includes the time taken for the loan to be credited to the applicants’ account.

Credit Flexibility

Other factors we have taken into consideration include credit flexibility and transparency. All the payday lenders in the above list approve loans based not on credit checks or credit history but on financial stability.


Transparency is also a big factor as payday lenders need to show full transparency and disclosure as they ask for extensive financial and personal information.

Emergency Payday Loans – Best 5 Reviewed

1. Viva Payday Loans

Viva payday loans is an easy and quick loan provider service that helps people with any credit score (mostly low) to apply for an emergency loan which is processed quickly. The company behind Viva Payday Loans is known as Payday Ventures Ltd and they do not influence the approval process for any loan application.


This platform simply connects borrowers who are in immediate need of finances with direct lenders who independently choose to accept loan applications, making the entire process quite straightforward. Borrowers can expect to get anywhere between $100 and $5000 on loans from the right lenders found on Viva Payday Loans.

The repayment period for such loans starts from 90 days up to 6 months which is sufficient for most people. The APR offered by this platform to its users is 5.99% to 35.99% depending on the loan amount. Therefore, in case one needs a quick solution such as emergency same day loans from a legitimate broker then Viva Payday Loans is a great option.


  • Emergency loans for unemployed without verification
  • 100% appreciation online
  • The search tool is free to use
  • Offers best interest rates
  • Same day payout of loan is available
  • Applying for a loan is quick


  • Lenders draw loan agreements that might include difficult terms.

Customer reviews and ratings

Viva Payday Loans are not only a trustworthy platform that has been active for quite some time within the market, but it has gathered a strong following by offering fast-processing loans. Customers of Viva Payday Loans appreciate the features and usefulness of this platform. All of this has made Viva Payday Loans a credible place with returning clients who refer it to their friends and families.

2. Money Lender Squad

Money Lender Squad is a loan provider platform where you can get emergency loans for bad credit without any guarantors and paperwork. The Money Lender Squad opens a new and risk-free path for those who need an emergency loan at low APR from a trustworthy source without having to go through complex procedures.


Instant approvals for loans that do not require guarantors are what make Money Lender Squad different from other alternative loan providers available online. No credit check is performed for borrowers who apply for a loan that they can quickly repay within the allotted period.

The money lender squad specifically focuses on affordability and ensures that no hard credit check is done so that a borrower can easily fill in and submit their loan application without any worries. Their quick loans can be repaid within 60 days to a total of 24 months. Lenders are given a chance to decide which applicant to select.


  • Uses automated system for 0 errors and less waiting time
  • Guarantors not needed
  • Loan terms are extended
  • No credit checks
  • Quick online application


  • APR varies from 36% to 400% depending on credit score

Customer reviews and ratings

The overall position of the money lender squad is satisfactory. People do love to use this platform when money is tight and they do not have a good credit score to take the help of a traditional bank or a financial institution. But the fact that APR could vary depending on borrowers’ credit score is a bit of bad news for people who do not want their credit score to be considered at all. But since approval takes less than a few moments after a lender accepts a loan application, this platform is admired by its customers.

3. Credit Clock

If you are looking for a short-term and credible solution for your financial troubles whether it is a payday or an emergency loan then the Credit Clock is a great option to consider.


Credit Clock has been a well-known short-term loan provider that approves loans quickly for years. In case of any financial emergency when people do not have time to waste and are in dire need of some funds, credit clock’s reputed lenders have come forward to help via its one-of-a-kind platform.

It takes only five minutes to apply for an emergency loan on a bad credit using the easy-to-follow interface offered by Credit Clock. All that one has to do to ensure approval of their loan application is to be mindful of the details that they put in the application before clicking on submit. After that, you must wait to receive a quick response from the provider regarding application approval and loan payout. The entire process takes about a day only.


  • Eligibility relies on affordability
  • Borrowers must be at least 18 years of age
  • Bad credit borrowers are allowed
  • The simple and fast application process


  • Minimum earning should be $1000

Customer reviews and ratings

Credit Clock approves loans within 2 minutes of applying in case the applicant fulfills all the criteria required by the loan providers and associated lenders namely, OppLoans and GreenDay. Proving $1000 in income could be difficult for most people who wish to get an emergency loan but it’s necessary to loan funds to eligible people.

4. Very Merry Loans

Taking out a short-term loan especially when you have limited options online can be very stressful. But certain loan providers make it easy to connect with a lender directly and have your financial emergency solved within 24 hours. Very Merry Loans is a trusted platform where people get the opportunity to make their own choices.


The Very Merry Loans platform came into existence in the year 2013 as a non-charging broker that would help its clients to connect with lenders without any fees. The company was paid commission from the lenders whenever a successful connection was made through the platform. The company adheres to the rules and regulations of the FCA according to its website.

The company is registered in England, Wales and it is headquartered in London where it operates through the license obtained by Information Commissioner’s Office. Very Merry Loans services allow it to help borrowers in different situations. They have flexible and all-inclusive loan offers to help out individuals who have a bad credit score.


  • High chances of approval
  • Loan limits above average
  • Services open during bank holidays
  • FCA-approved loan provider


  • No guarantees on borrowing costs

Customer reviews and ratings

It works for borrowers living in the UK who wish to take a loan without going through the tedious traditional route. While the chances of loan approvals are satisfactory, you also get to access loans worth $100 up to $2000. Once you put the query on the site, it gives you multiple quotes from one of the best lenders out there. Customers do not like the fact that this provider emphasizes verifying the source of income of borrowers.

5. Heart Paydays

Heart Paydays platform is a famously used loan provider in the US that welcomes borrowers without any upfront costs and a simple interface that allows one to make correct financial decisions. Applicants must fill up an application to proceed with the loan approval process. All FICO scores are considered on heart paydays.


The inconvenience of the process involving online loan application is minimal on the heart paydays platform because it offers a straightforward way to obtain the required financial support one needs from trustworthy lenders. Applying for bad credit emergency loans for unemployed people takes just a few minutes.

Once submitted, the form along with all the details is shared with direct lenders who choose to approve and disburse loans ideally within an hour. You can simply check out their website and fill out the form with your personal details without breaking a sweat.


  • Best known for low APR
  • No paperwork required
  • No phone calls needed
  • Flexible repayment schedule


  • Some loan offers are expensive

Customer reviews and ratings

People who are interested in emergency loans are mostly in a troubling situation where they need immediate help from a reliable source. People love the Heart Paydays platform because it serves people who are unemployed, living on benefits, or simply have bad credit. It does not require paying a middleman to simply get in touch with dependable lenders like LendUp and ACE Cash.

What is an Emergency Loan For Bad Credit?

An emergency loan refers to a type of personal loan that you can use to finance sudden unforeseen expenses. This can range from medical bills, education expenses, or even cash crunches while planning for a memorable event. It usually comes with a short-term which can range from a few weeks to 6 months and are meant for individuals that do have less than perfect credit records.

Because of this, emergency loans usually carry with them high amounts of interest. While it is always advised that you should set aside some cash for emergency purposes, emergency loans can just as well help you to recover from a bad financial situation. Emergency same-day loans can be used in scenarios such as your car breaking down, paying your utility bills, and any sudden medical expenses.

Types of Emergency Loans With Bad Credit

Emergency loans can be of several types with some of the most popular forms described in brief below.

Short Term Payday Loans

Payday loans, also known as payday advance, small-dollar loans, and cash advance loans which are generally unsecured in nature and come with high interest rates. The basic payday loan process involves the lender providing a short-term unsecured loan to the borrower which is to be paid back at the borrower’s next payday. While some lenders conduct some form of verification of employment or income status, the vast majority do not conduct such checks. Online payday lenders allow consumers to complete the loan application online. The lender then transfers the fund by direct deposit to the borrower’s account.

Installment Loans Over 3-24 Months

This is a type of personal installment loan which has a slightly larger tenure at 3 to 24 months on some occasions. The lender provides the borrower with a pre-determined fixed amount that must be repaid according to the scheduled payment dates as specified in the loan’s terms and conditions. Each payment you make will contain a portion of the principal amount borrowed along with the interest on the debt. Some of the variables that determine each installment amounts include the interest rate charged, the length of the loan, and the total amount. Installment loans usually have monthly regular payments which are fixed, allowing you to better plan your finances to make the required payments.

Title Loans

Title loans are another popular form of an emergency loan, which is secured in nature unlike some of the other options available here. Lenders use your vehicles as collateral to provide you the loan. In case you are unable to repay the loan amount by the end of the stipulated period which can last for 30 days, the lender has the full legal right to repossess your car to settle the debt. Similar to payday loans, title loans also carry with them a high rate of interest. Choose a title loan only when you intend to borrow small amounts and have the capacity to repay the loan within a month.

Tribal Loans

Tribal loans are different than state-licensed ones as they are offered by lenders belonging to Native American tribes. This form of emergency loan can be an alternative to payday loans if you need some quick cash. However, the problem occurs with the laws and rules regarding tribal lending, as some tribal lenders claim independence from state and federal laws. As a result, they can charge much higher interest rates compared to state-licensed lenders. In extreme cases, the lender may be able to take you to court for defaulting on the loan.

Advantages of Emergency Loans For Bad Credit

Emergency online loans provide a quick and guaranteed way for less credit-worthy individuals to access lines of credit when all other options are closed for them. There are numerous reasons why consumers are enticed by the prospects of emergency loans, with some of them mentioned in brief below.

Simple applications

One of the biggest reasons why consumers choose emergency loans is the lack of paperwork involved. Online lenders provide very simple and straightforward loan applications that can be completed within mere minutes. It saves a lot of time and energy when compared to traditional loans which can involve a huge amount of paperwork and a lengthy application process. On the other hand, you will just need to provide some basic information and some evidence of your financial status to the lender. The lender contacts the borrower in case some additional information is required.

Quick and hassle-free transfer

Online emergency loan providers usually tend to approve and transfer the loan amount quickly compared to other loan forms. Some brokers and lenders can accept your application within 5 minutes and transfer the required loan amount within one working day. This however, depends on your bank account and whether or not your bank supports fast transfer methods.

Plenty of options

Thanks to the advent of internet technology, applying for loans online has become the new norm. The days of waiting for an application only to have it rejected are long gone. Compared to applying with lenders individually, consumers are now more than willing to collaborate and ask for a loan with an online lender because of the easy process. The amount of options increases if you sign up with a lending broker which works with a network of established lenders under its network. It is the broker’s responsibility to match your application with a suitable lender who will then provide you the loan along with your preferred terms and conditions.

Only option for individuals with bad credit

You will get rejected by banks and other traditional financial institutions if your credit score or history fails to meet the rigid criteria set by them. In such cases, it can be hard for individuals who are already under e burden of financial stress, to find and access a line of credit from a reliable source. Fortunately, online emergency loans for bad credit are specifically designed financial products to help such financially struggling individuals. While the interest rates are comparatively high, the loan process is fast and lets anyone access credit in a matter of hours or days.


Most online emergency loan providers require to be registered with a financial regulatory body in the country they are operating. Being regulated means that the lender will have to operate their business in a responsible manner. The lenders must deal with clients who are struggling to repay their loans in an ethical way.

Disadvantages of Emergency Loans For Bad Credit

Just like any other financial product, emergency loans also carry with them a set of disadvantages that applicants should be aware of.

Higher interest rates

According to critics, emergency loans carry one of the greatest risks for lenders, which is why they charge high-interest rates and payment fees. This is to offset the risk of providing loans to financially struggling individuals. Typical APRs for these types of loans can range from 5% to upwards of 35%. High interest rates and late payment fees can put a strain on anyone’s finances, especially if they miss one or multiple loan installments.


You should closely inspect the terms and conditions of the loan before applying to prevent yourself from falling into a gap you didn’t see. For instance, some short-term lenders charge late payment installments and fees as well as an origination fee. Luckily there are several regulatory bodies that prevent any borrower from building up a debt spiral. There are some rules that prevent borrowers from taking out loan amounts that they cannot afford to pay.


What are the requirements for getting an emergency loan?

Why are interest rates higher in emergency loans compared to traditional loans?

What happens if I miss a payment for an emergency loan?

Why are interest rates higher in emergency loans compared to traditional loans?

Why choose a broker rather than a direct lender for emergency loans?

About Jayme Wium PRO INVESTOR

Jayme is a professional freelance writer specializing in personal finance, business, nutrition, botany and mental health. She has studied extensively in these fields and spends a considerable amount of her time creating content to help simplify complex concepts for the everyday person.

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