Editor's choice: OppLoans Installment Loans
- Easy online application
- Quick approval
- Long repayment terms
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.
Compare your loan options to find the right provider for your needs.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
You can generally get a loan if you:
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.
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.
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.
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:
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.
There are a few things you should know about cash advances in order to make the right decision for you and your family. First, you should generally only take out a cash advance in emergency situations because this type of loan is typically a short-term, one-time solution. If you have structural financial problems that cause you to have difficulty repaying debts, you should consider credit counseling.
Second, you’ll want to make sure you can repay your cash advance in a timely manner. Missing the due date on your repayment will result in additional charges. Avoid digging yourself into a deeper financial hole by taking on debt you can’t afford.
Third, before accepting a cash advance, be sure to read the lender’s terms and conditions carefully. It’s important to read the fine print so you know exactly what you are paying and when it is due.
When you look for a $2,000 loan, bear in mind that it can come with associated risks:
While not all lenders report to the big three credit agencies that handle credit, some might choose to report late or missing payments. This is at the discretion of the lender.
If you know your payment will be late, contact your loan provider and inform them. Usually, the lender will be willing to extend the payment deadline and find ways to help you through difficult financial times.
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What happens after I submit my application?
This varies depending on the loan you apply with. Most lenders will email you once your application has been processed letting you know whether your loan was approved or denied.
If I’m unemployed, can I still get a $2,000 loan?
You still might be eligible for a loan if you’re unemployed. Keep in mind that lenders will need to see evidence of your ability to repay the loan and manage repayments. This could include unemployment benefits issued by the state.
Can I repay my loan early?
This depends on the individual lender. When reviewing your loan contract, be sure to voice this question as some payday loan lenders charge extra fees for early repayment.
How long will it take for me to receive approved funds?
Funds are usually deposited into your bank account on the next business day. It ultimately depends on the lender and your bank.
Is having a checking account necessary?
Most lenders require applicants to have operational checking or savings accounts where they can transfer funds electronically.
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