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You have several options when you need to cover a $2,000 emergency regardless of your credit score. But watch out: Some bad credit options come with high rates and fees.
Our top pick: OppLoans Installment Loans
- Easy online application
- Quick approval
- Fast funding
- Long repayment terms
Our top pick: OppLoans Installment Loans
- Min. Loan Amount: $500
- Max. Loan Amount: $5,000
- Turnaround Time: 1 business day
- Loan Term: 9 to 36 months
- Requirements: Direct deposit, meet minimum income requirements
Where can I get a $2,000 loan?
- Short-term lender. Online installment loan providers often offer fast $2,000 loans with terms from three to 12 months to all credit types.
- Auto title lender. Own a car? You can get a 30-day loan or installment loan of $2,000 in as fast as 30 minutes even with bad credit by backing it with your car’s title.
- Your credit card. You can get a credit card cash advance of $2,000 as fast as you can get to the ATM, often with better rates than a short-term loan.
- Personal loan provider. If you have mediocre credit, you can often up you chances of approval for a $2,00 loan by putting up collateral.
Compare $2,000 short-term loans
Updated January 21st, 2020
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How to get a $2,000 loan with bad credit
- Compare lenders. Use the comparison table above to find a lender that you can qualify for.
- Fill out the application. If you find a lender you like, click the Go to Site button and follow the instructions to complete the application.
- Get an offer. If you’re approved, you can typically get an offer in a few minutes. Review your offer to make sure it’s something that you can comfortably afford.
- Read and sign the contract. Make sure you understand what you’re signing and watch out for unnecessary ad-ons like insurance.
- Get $2,000 deposited into your account. If you apply online, often you can get your money as soon as the next business day.
Eligibility checklist
You can generally get a loan if you:
- Receive regular income
- Live in an eligible state
- Are a US citizen or permanent resident
- Are over 18
You might also need to have an active checking account to qualify for an installment loan and some title loans. Some lenders also require you to have a job.
How much does a $2,000 loan cost?
It depends on what type of loan you’re applying for and your credit rating. But bad credit loans are often expensive. Installment loans often come with APRs over 100% and title loans tend to have rates over 300%.
However, installment loans also tend to have longer terms, which gives more time for interest to add up. Use the calculator below to see how much a $2,000 loan at different rates and terms.
What you need to know when comparing $2,000 loans
How you compare your options largely depends on whether you’re applying for a payday loan or a standard $2,000 personal loan. Below, we’ve broken down what you need to know.
- What is the APR? The APR is an expression of a loan’s rates and fees
- What is the term of the loan? Go for the shortest loan term you can afford to save on interest.
- What are the fees and charges? Lenders may charge financing fees or monthly fees in addition to the interest rate.
- What is the reputation of the lender? Check borrower reviews on sites like Trustpilot and complaints with the Consumer Financial Protection Bureau or Better Business Bureau.
How do you know if a lender is legit?
How to increase your chances of being of approved
While there is no definite way to make sure a lender approves your application, it could help your application to keep the following in mind:
- Establish eligibility criteria. You can’t get approved for a loan if you don’t qualify.
- Go through your credit report. Some credit reports
- Limit your applications. Every time you apply for a loan, it counts as an inquiry on your credit report, which lowers your score.
Factoring in your repayments. It’s important that you have a fair idea of what your repayments will look like before you apply for your $2,000 loan.
Once you know how much you have to repay, take into account your existing salary and expenses and then determine if you can afford to make the repayments. You can use a loan calculator to find out how much you might have to repay weekly, biweekly, or monthly.
The pros and cons of $2,000 payday loans
Pros
- The opportunity of flexible repayments. Flexible repayment options let you line up your repayments in accordance to when you get paid. By making extra repayments, you can repay the loan ahead of time.
- Online presence simplifies the process. If a lender is online, the entire process can be streamlined. You will usually be given multiple options during the application process to submit documents, information and track your application’s progress.
- Bad credit is OK. People who have bad credit can find it difficult to be approved for loans, but there are a multitude of $2,000 loan options available for those with bad credit.
Cons
- Higher fees. Payday loans attract higher fees due to the risk the lenders are taking on. It’s important to consider whether you can afford the loan before you apply.
- Short loan terms and repayment schedules. Most cash advance and payday loans require that you repay the entire amount in a few weeks or months, resulting in high repayments.
- Predatory lenders. Some lenders can be disreputable and set unfair terms, so it’s important to do your research and apply for a loan with a reputable lender.
What to avoid
When you look for a $2,000 loan, bear in mind that it can come with associated risks:
- Avoid taking on more debt than you can handle and exercise caution throughout the loan process.
- A short repayment period and high fees translate into high repayments.
- You can avoid high interest rates by comparing multiple lenders. Remember to consider all costs, including financing fees if applicable.
What type of loan are you looking for?
Fixed Term |
Fixed Amount |
|
|---|---|---|
| 7 days |  |
$1,000 |
| 30 days | |
$1,500 |
| 2 months | |
$2,000 |
| 3 months | |
$3,000 |
| 5 months | |
$4,000 |
| 6 months | |
$5,000 |
| 12 months | |
$10,000 |
| 24 months | |
Compare more |
Frequently asked questions about $2,000 loans
Are payday loans available in my state?
Compare payday loans in your state
Ask an Expert
How or where would I have to go to apply for a $2000 loan with a reasonable amount of time to pay it off. It’d have to be exceptional as I am on disability O.D.S.P government ingcome.
Hi Smokey,
Thank you for your inquiry.
You can go to the section where it says “Compare lenders offering $2,000 short term loans”. Next follow the steps listed below.
1. Select your credit score
2. Select the state based on your permanent address
3. Review the offers
4. Once you have decided which lender you are going to apply you can go ahead and click the “go to site” button for further instructions and details.
I hope this information has helped.
Cheers,
Harold