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Get a $5,000 loan

Compare personal loans and installment loans for good, fair and bad credit.

Most lenders offer personal loans of $5,000 — and a few installment loan providers also offer this loan amount. We reviewed over 260 personal loan and short-term lenders to help you find a $5,000 loan that’s a good fit for you.

Compare $5,000 loans for bad credit

Though none of these providers advertise no-credit loan options, they offer loans to all credit types — even if you have a 580 credit score or lower. But watch out for high interest rates with installment loan providers, which can reach 300% APR.

Loan providerRequirementsLoan typeFinder rating
OppLoans
  • Direct deposit
  • Meet minimum income requirements
  • Live in eligible state
Personal loan★★★★★
Go to site
CashUSA
  • Regular source of income
  • Bank account
  • US citizen or permanent resident
  • Age of majority in your state
Personal loan
Not yet rated
Go to site
OneMain Financial
  • Established credit history
  • US citizen or permanent resident
  • Age of majority in your state
Personal loan★★★★★
Read review

Compare $5,000 loans for good and fair credit

These online lenders offer personal loans as soon as the next business day. Generally, you need a credit score of at least 580 to qualify.

ProviderMin. credit scoreRequirementsLoan typeFinder rating
SoFi680
  • Credit score of 680 or higher
  • Currently employed
  • US citizen or permanent resident,
  • Age of majority in your state
Personal loan★★★★★
Go to site
LendingClub600
  • Be at least 18 years old
  • Have a government-issued ID
  • Be a US citizen, permanent resident or live in the US on a long-term visa
  • Have a verifiable bank account
Personal loan★★★★★
Go to site
Upgrade600
  • Credit score of at least 620
  • Monthly budget of $1,000 after bill payments
  • 40% or lower DTI ratio
  • Valid bank account
Personal loan★★★★★
Go to site
Upstart300
  • Credit score of 300
  • DTI ratio not exceeding 45% to 50% depending on the state
  • Regular source of income from a full-time job
  • Personal US bank account
  • No bankruptcies in the past 12 months, Fewer than six credit inquiries in last six months
  • Not a resident of Iowa or West Virginia
Personal loan★★★★★
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Avant580
  • Credit score of at least 580
  • Valid bank account
  • Proof of steady income
  • Live in eligible state
  • US citizen or permanent resident
  • At least 18 years old — 19 in Alabama
Personal loan★★★★★
Go to site
Marcus by Goldman Sachs720
  • Valid US bank account
  • Social Security number or individual tax identification number
  • Age of majority in your state
Personal loan★★★★★
Prosper640
  • Credit score of 640 or higher
  • Valid bank account
  • Regular source of income
  • Debt-to-income ratio under 50%
  • No bankruptcies filed within the last 12 months
  • Fewer than five credit inquiries within the last six months
Peer-to-peer loan★★★★★

How much will it cost?

That depends on your interest rate, fees and loan term. Most lenders display an annual percentage rate (APR), which includes the interest and fees you would pay over one year.

Personal loan interest rates usually run from 6% to 36%, while installment loans usually run from around 100% to 300% APR. Generally, rates and terms vary depending on factors like your credit score and income. The biggest risk of taking out a bad-credit installment loan is the high cost. Most come with an interest in the triple digits, high fees and relatively short repayment terms, making for high repayments that can be difficult to afford.

Calculate your loan repayments

Use our calculator to see how much a $5,000 loan might cost you each month.

How long does it take to get a $5,000 loan funded?

This depends on the lender and the type of loan you want. With online personal or installment loans, you can apply online and often get your funds as fast as the next business day. But banks and credit unions can take as long as a few weeks, depending on their underwriting process.

More $5,000 loan options from online lenders

1 - 0 of 0
Name Product Filter Values Loan amount Turnaround time Requirements
OppLoans Installment Loans
$500 to $4,000
1 business day
Direct deposit, Meet minimum income requirements, Live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
BadCreditLoans.com
$500 to $10,000
As soon as next business day
Depends on lender requirements, poor credit borrowers may still be able to qualify for a loan. Must live in an eligible state.
With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
As soon as the next business day
Regular source of income, Verifiable bank account, US citizen, Ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
LendYou Short-term Loans
$100 to $2,500
Same business day to 1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Monevo Installment Loans
$500 to $100,000
Varies by lender
Credit score of 500+, legal US resident, ages 18+
Quickly compare multiple online lenders with competitive rates depending on your credit.
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Compare up to 4 providers

How to pay off $5,000 in debt

Repayment and terms are set by your lender. Some installment loan providers charge a penalty for paying off your loan early. Ask customer service if they charge prepayment penalties before signing your agreement.

Eligibility requirements for a $5,000 loan

Each lender will have their own set of eligibility requirements for a loan, but you’ll typically need to meet the following to be approved:

  • US citizen or permanent resident
  • Age of majority in your state
  • Provable monthly income
  • Valid US bank account

How to improve your chances of approval

There’s no one surefire way to ensure you’re approved for a loan, though the following may be able to help:

  • Check the eligibility criteria before applying. Most lenders have specific requirements you need to meet in order to qualify. If you’re not sure you’re eligible, call the lender’s customer service team to discuss your situation.
  • Order a copy of your credit report. Your credit report is the only true record of your financial history and what lenders will use to judge your creditworthiness. You can order a free copy from each of the three major credit bureaus once a year.
  • Compare options before applying. Every application you submit shows up on your credit report and lowers your score. To avoid this, compare lenders before applying to find the best fit for your needs.

What to watch out for

Weigh these factors before applying for a loan.

  • High interest rates with bad credit
  • Limited options for credit scores under 670
  • Not all installment loan providers offer this loan amount

3 alternatives to $5,000 loans

Consider these options if you’re not sure you need exactly $5,000 — or want to qualify for a lower rate.

  • Credit card. Many credit cards have credit limits of $5,000 and above. While credit cards have higher APRs than personal loans, some new credit cards come with a 0% promotional APR for the first six to 21 months. This makes it a cheaper option if you can repay your loan during that time — though you typically need a credit score of 670 or higher to qualify.
  • Line of credit. This option gives you access to cash as needed for an ongoing project, so you don’t have to over borrow when you think you might need $5,000 but aren’t sure.
  • Home equity line of credit (HELOCs). For a lower rate, back your loan with collateral by taking out a HELOC against the value of your home. HELOCs are commonly used for home improvement projects, though you can use it for most personal expenses.

Explore other loan amounts and repayment terms

Need to borrow more than $5,000? Less? Check out these other guides:

Fixed termFixed amount
7 days$1,000
30 days$1,500
2 months$2,000
3 months$3,000
6 months$4,000
9 months$5,000
12 months$10,000
24 monthsCompare more

Frequently asked questions

Can I get a $5,000 loan if I’m unemployed?

While some lenders are willing to work with borrowers who are unemployed, you’ll still need to show some type of proof of income — like government benefits or a pension.

Is it possible to get a $5,000 loan with guaranteed approval?

No, a lender can’t guarantee approval — decisions depend on several factors like your income and employment history. Stay clear of any lenders that advertise guaranteed approvals — they’re usually a scam.

Is having a checking account necessary?

Most lenders require applicants to have operational checking or savings accounts where they can transfer funds electronically.

Will a late payment on a loan affect my credit?

While not all lenders report on-time repayments to the three major credit bureaus, most will report any late or missed payments.

What happens if I know my payment will be late?

Reach out to your lender’s customer service team before you miss the payment — many may be willing to work with you.

More guides on Finder

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86 Responses

  1. Default Gravatar
    JimJuly 3, 2019

    On job 8 yrs agi 2018 92,000.. 2nd year ch 7 discharge been renting 1049.00 over 3 years I’ve had perfect payment on truck over year but credit still very slowly building but now need loan buy car for cash for my son and repair on wife’s car??? Any advice and thank you

    • Avatarfinder Customer Care
      BellaJuly 4, 2019Staff

      Hi Jim,

      Thanks for your inquiry.

      There are loans options that are available for people with poor or bad credit. As long as the loan applicant can demonstrate the ability to repay the loan and they earn any sort of income, their credit score isn’t the biggest factor for approval. You may review and compare your options on the table displaying the available providers above. Simply enter your state where you live in and it will give you a comparison table from providers you can successfully apply to.

      Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.

      I hope this helps.

      Kind regards,
      Bella

  2. Default Gravatar
    BettyFebruary 10, 2019

    What if you do not have a bank account can I still get a loan asasp

    • Avatarfinder Customer Care
      johnbasanesFebruary 11, 2019Staff

      Hi Betty,

      Thank you for reaching out to finder.

      You may check out our guide on how you could get a loan without a bank account. You will see the options available for you to choose from in taking out a loan. Hope this helps!

      Cheers,
      Reggie

  3. Default Gravatar
    TerryJanuary 15, 2019

    Can I get a personal loan of $5,000?

    • Avatarfinder Customer Care
      JhezJanuary 17, 2019Staff

      Hello Terry,

      Thank you for your comment.

      If you’re looking for a personal loan, you may review and compare your options on the table displaying the available providers above. Simply enter your state where you live in and it will give you a comparison table from providers you can successfully apply to.

      Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.

      Regards,
      Jhezelyn

  4. Default Gravatar
    yuckytooSeptember 5, 2018

    Yes , I had to file chapter 13 since my lender of my home would not let me sell my home. I had 10 contracts on my house to sell but Citi refused to accept any of the offers after 2 years, I talked to my attorney explained the situation and he advised me to file chapter 13 because the only bill I had was my mortgage. I make 60,000 a year have no credit cards but know bad credit .. can i get a personal loan to rebuild my credit

    • Avatarfinder Customer Care
      JoshuaSeptember 6, 2018Staff

      Hi Yuckytoo,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      If you are able to make timely repayments, then a personal loan may help. However, please consider that getting another loan maybe risky as there’s always a chance that you won’t be able to pay.

      What you can do is order a copy of your credit report. From there, you should have a better idea how you can improve your credit history and score. We have a comprehensive guide that you might want to check. The title is, “Improve your credit score to access better interest rates and terms.”

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  5. Default Gravatar
    TracJune 27, 2018

    I been trying to get a loan but everyone keeps denying me i know my credit is real poor but i dont have any credit cards. What can i do?

    • Default Gravatar
      joelmarceloJune 28, 2018

      Hi Trac,

      Thanks for leaving a question on Finder.

      Bad credit is tough to shake. Having negative listings on your credit file can seriously hinder your ability to access loans, but if you’re on the “credit fringe” there are still a variety of loan options you can consider. Check out our guide on bad credit personal loans to find out what’s available to you.

      Cheers,
      Joel

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