Compare $3,000 loans
These lenders all offer $3,000 loans. Each has a different maximum amount if you end up needing more funds — ranging from $5,000 to $100,000. Check the requirements before you apply, if you don’t meet the minimums set by the lender your application will be rejected.
|OppLoans Installment Loans||Not available in: Arkansas, California, Colorado, Connecticut, Illinois, Iowa, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Pennsylvania, Vermont, Virginia, West Virginia||1 business day||Direct deposit, meet minimum income requirements, live in eligible state|
|Monevo Installment Loans||Available in all states||Varies by lender||Credit score of 500+, legal US resident, ages 18+|
|CashUSA Installment Loans||Not available in: New York||As fast as same business day||Regular source of income, bank account, US citizen or permanent resident, age of majority in your state|
|BadCreditLoans.com||Available in all states||Varies||Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.|
|NetCredit personal loans||Available in: Alabama, Alaska, Arkansas, California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin||1 to 3 business days||Varies depending on your state of residence.
Depending on your state of residence, your personal loan might not be offered by NetCredit but through its partner lender, Republic Bank & Trust Company, Member FDIC.
Am I eligible for a $3,000 loan?
You can generally get a loan if you:
- Have a regular source of income
- Have an active checking account
- Are over 18
You don’t necessarily need to be employed to get a $3,000 loan, though it helps. As long as you have a regular source of income, you can typically find a lender. Don’t have a bank account? Check out our no bank account loans guide.
What types of loans should I consider?
- Installment loans can be paid back over three to 12 months are available to all credit types and don’t require collateral.
- Auto title loans are available if you own your car outright. You might be able to get a slightly better deal if you have bad credit and put your car’s title up for collateral with an auto title loan.
- Secured personal loans use other items that you own to back a loan from a personal loan provider for more favorable rates and terms.
- Credit cards come with a cash advance feature that allows you to get the funds from an ATM. But these typically come with an extra fee and a higher APR than your normal credit card purchases.
How to find the right lender
Ask yourself these five questions to pick the best lender to apply with:
- How quickly do I need the money? This can tell you whether to prioritize speed or cost.
- What can I afford? Figure out how much you can afford to repay each month and use that to weed out lenders.
- How is my credit? If you have a credit score below 600, your options are typically limited to installment or auto title loans.
- Am I employed? Some lenders require you to have a job while others accept any regular income like government benefits.
- How much does the loan cost? The easiest way to compare costs is to compare a loan’s APR, which includes both interest and fees.
Can I afford a $3,000 loan?
The total cost of your loan will depend on the type of lender you go with, your finances and your credit score. Your monthly payments are based on two factors: Your APR — the annual cost expressed as a percentage — and your loan term.
Personal loans frequently cap your APR at 36% or less, while payday loans and installment loans have much higher fees and often a much shorter repayment term, which results in a high APR.
Lenders may also charge an origination fee, which is a percentage of your loan amount typically deducted from your loan before you receive your funds. This is also based off your credit score — if you have bad credit, expect to pay a higher origination fee in addition to higher rates and fees.
Use our calculator to see how much your monthly repayments would be at different loan rates and terms.
Benefits and drawbacks to consider
- Repayment flexibility. A number of lenders allow you to make repayments according to how frequently you get paid. If you can repay your loan ahead of time without being subject to an early payout penalty, you can save on fees and interest.
- Account access. Most lenders allow you to access your account online, while others also offer phone account access.
- Apply with bad credit. Having bad credit doesn’t mean you can’t get a loan. Most payday lenders will consider you for a loan with less-than-perfect credit.
- Higher interest rates and fees than standard loans. Interest rates for bad credit loans are noticeably higher than most other loan types, so you may want to explore other options first. Payday loans and installment loans also tend to come with higher interest rates compared to more traditional secured and unsecured personal loans.
- Higher repayments. Since payday loans and installment loans are paid rather quickly, the payments will be high when compared to other types of personal loans that can stretch over years.
- Disreputable lenders. If any offer seems too good to be true, it probably is. Ensure the lender you’re applying with has a solid reputation by reading independent reviews and checking with your local government.
How to get your loan application approved
While there is no definite way to make sure a lender approves your application, it could help your application to keep the following tips in mind. $3,000 of debt is nothing to take lightly. Be sure you also understand the risks and know what to watch out for before you apply.
Tips for a good application
- Establish eligibility criteria. Make sure you have a chance of approval before you start your application.
- Go through your credit report. Understanding of your credit history will put you in a better position to know what loans you can and can’t apply for.
- Limit your applications. Submitting too many applications can negatively affect your credit score. Instead consider prequalifying with multiple lenders.
What to watch out for
- Avoid taking out a loan you’re know you won’t be able to repay on time — this can start a cycle of debt.
- Avoid simply picking the first lender you come across. You could save money on interest and fees by comparing multiple lenders. Remember to consider all costs, including penalty fees for late payments.
Looking for a different type of loan?
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Frequently asked questions about $3,000 loans
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