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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.
These providers offer in the loan amounts you’re looking for 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.
| Provider | Availability | Requirements | Best for … | Finder rating | |
|---|---|---|---|---|---|
| OppLoans | 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 | Direct deposit, meet minimum income requirements, live in eligible state | Building your credit | ★★★★★ | |
| CashUSA | Not available in: New York | Regular source of income, bank account, US citizen or permanent resident, age of majority in your state | Fast financing | ||
| Monevo | Available in all states | Credit score of 450+, legal US resident and ages 18+. | Comparing multiple offers | ★★★★★ | |
| OneMain Financial | Not available in: Alaska, Arkansas, California, Connecticut, Massachusetts, Michigan, Rhode Island, Vermont | Established credit history, US citizen or permanent resident, age of majority in your state | Personal loans | ★★★★★ |
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 with these providers.
| Provider | Availability | Min. credit score | APR | Finder rating | |
|---|---|---|---|---|---|
| SoFi | Not available in: Mississippi, Vermont | 680 | 4.99% to 19.63% | ★★★★★ | |
| Prosper | Not available in: Iowa, North Dakota, West Virginia | 640 | 7.95% to 35.99% | ★★★★★ | |
| LendingClub | Not available in: Idaho, Iowa | 640 | 7.04% to 35.89% | ★★★★★ | |
| Marcus by Goldman Sachs | Available in all states | 660 | 6.99% to 19.99% | ★★★★★ | |
| Upgrade | Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia | 600 | 5.94% to 35.97% | ★★★★★ | |
| Upstart | Not available in: West Virginia | 600 | 5.55% to 35.99% | ★★★★★ | |
| Avant | Not available in: Colorado, Iowa, Vermont, West Virginia | 600 | 9.95% to 35.99% | ★★★★★ |
You can get a $5,000 loan by comparing lenders that offer this loan amount and submitting an application. Online personal loan and installment loan providers can get you funds as soon as the next business day, while banks and credit unions can take as long as a few weeks.
If you have a bad credit score — or a credit score below 580 — you’re generally limited to installment loan providers. While a few personal loan providers also accept credit scores in this range it’s not common. Installment loans and bad credit personal loans come with much shorter loan terms than traditional personal loans, ranging from three to 18 months.
Often you can apply online and get your funds as fast as the next business day. But like with many short-term loans, these can come with triple-digit APRs, depending where you apply.
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.
Use our calculator to see how much a $5,000 loan might cost you each month.
Follow these six steps to apply for a $5,000 loan:
Weigh these factors before applying for a loan.
The biggest risk of taking out a bad-credit installment loan is the high cost. Most come with an intererst in the triple digits, high fees and relatively short repayment terms, making for high repayments that can be difficult to afford.
There’s no one surefire way to ensure you’re approved for a loan, though the following may be able to help:
Consider these options if you’re not sure you need exactly $5,000 — or want to qualify for a lower rate.
Need to borrow more than $5,000? Less? Check out these other guides:
| Fixed term | Fixed 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 months | Compare more |
Answers to common questions about getting a $5,000 loan.
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.
This depends on the 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.
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.
That varies depending on the lender. Many online providers offer funding as soon as the next business day. But banks and credit unions can take more than five business days to fund your loan.
Most lenders require applicants to have operational checking or savings accounts where they can transfer funds electronically.
While not all lenders report on-time repayments to the three major credit bureaus, most will report any late or missed payments.
Reach out to your lender’s customer service team before you miss the payment — many may be willing to work with you.
Yes, in fact most lenders that offer loans to borrowers with your credit score offer this loan amount. But your options are slightly limited with this credit rating. Since you’re only 20 points shy of good credit, try to improve your credit profile by paying off debts or checking your credit report for errors before you apply.
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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
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
What if you do not have a bank account can I still get a loan asasp
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
Can I get a personal loan of $5,000?
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
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
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
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?
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