Where to Get Hardship Loans For Bad Credit: USAA? Wells Fargo? etc

Emergencies like medical issues and house repairs are stressful even if you have the funds to cover them. When you don’t have the funds, that stress is magnified. And, if you have bad credit, it can be difficult to get the funds you need through a traditional lender. There are, however, lenders that will work with you by providing hardship loans.

A hardship loan is a loan designed for people who need emergency funds immediately. There are a number of places where you can get a hardship loan, even if you have bad credit.

Where to Get Hardship Loans For Bad Credit

Below, we list the major companies that offer hardship loans for those with poor credit or little credit history. We’ve ordered the list starting with the best overall options.

LendingTree

  • Loan amount: Up to $35,000
  • Loan terms: Three months to 15 years
  • Interest rate: Varies from 4% to 36%
  • Credit check required? Yes
  • Find out more or apply

Our article has more information about LendingTree’s lending practices.

Wells Fargo

  • Loan amount: $3,000 to $100,000
  • Loan terms: 12 months to five years
  • Interest rate: Varies from 7% to 25%
  • Credit check required? Yes
  • Find out more or apply

5kFunds.com

  • Loan amount: Up to $35,000
  • Loan terms: Two months to six years
  • Interest rate: Varies from 6% to 36%
  • Credit check required? Varies by lender
  • Find out more or apply

Freedom Plus

  • Loan amount: $7,500 to $35,000
  • Loan terms: Two to five years
  • Interest rate: Varies from 5% to 30%
  • Credit check required? Yes
  • Find out more or apply

loansunder36.com

  • Loan amount: Up to $35,000
  • Loan terms: Two years to six years
  • Interest rate: Varies from 6% to 36%
  • Credit check required? Yes
  • Find out more or apply

USAA

  • Loan amount: $2,500 to $20,000 or more
  • Loan terms: 12 months to seven years
  • Interest rate: Varies from 9% to 18%
  • Credit check required? Yes
  • Find out more or apply

1 Call Loans

  • Loan amount: Up to $5,000
  • Loan terms: Varies, but typically three months to three years
  • Interest rate: Varies, depending on your credit score
  • Credit check required? No
  • Find out more or apply

Other Hardship Financing Options

Another option to consider when facing hardship is a Hardship Withdrawal from your retirement account. To see if you qualify for this option, you’ll need to contact your 401(k) plan administrator and ask about requirements and options.

Note: Whether choosing to get your emergency funds through a loan or through a 401(k) withdrawal, always weigh your options carefully. Though you may urgently need the funds, you should still consider the interest rates and other terms of these finance options so you can choose a loan with a repayment plan you’ll be able to afford.

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