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Get a $5,000 loan

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

$5,000 loans for bad credit Compare your options
$5,000 loans for fair and good credit Compare credit options

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

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.

ProviderRequirementsBest for … Finder rating
OppLoansDirect deposit, meet minimum income requirements, live in eligible stateBuilding your credit★★★★★
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CashUSARegular source of income, bank account, US citizen or permanent resident, age of majority in your stateFast financing
Not yet rated
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MonevoCredit score of 450+, legal US resident and ages 18+.Comparing multiple offers★★★★★
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OneMain FinancialEstablished credit history, US citizen or permanent resident, age of majority in your statePersonal loans★★★★★

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 with these providers.

ProviderMin. credit scoreAPRFinder rating
SoFi6805.99% to 18.85%★★★★★
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Prosper6407.95% to 35.99%★★★★★
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LendingClub6408.05% to 35.89%★★★★★
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Marcus by Goldman Sachs6606.99% to 19.99%★★★★★
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Upgrade6005.94% to 35.97%★★★★★
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Upstart6007.68% to 35.99%★★★★★
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Avant6009.95% to 35.99%★★★★★
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How can I get a $5,000 loan?

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.

Where can I get a $5,000 loan with bad credit?

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.

More $5,000 loan options from online lenders

Name Product Filter Values Loan amount Turnaround time Requirements
OppLoans Installment Loans
$500 to $5,000
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.
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.
Stilt
$1,000 to $25,000
2 to 3 business days
Be employed, have a US bank account, live in a state where Stilt operates, hold one of the following visas: F-1 and OPT, H-1B, H4, O-1, L-1, TN, J-1, DACA or be a US citizen.
No green card? You could still qualify for a personal loan.
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

What would payments be on a $5,000 loan?

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.

How do I apply for a loan online

Follow these six steps to apply for a $5,000 loan:

  1. Compare lenders. Compare loan amounts, rates, terms and eligibility requirements to find an option you can afford that accept your credit score range.
  2. Fill out the application. Go to the lender’s website and complete the application. Want to use a lender from our table? Click the Go to site button to get started.
  3. Review and submit. Double-check your application for mistakes before submitting it.
  4. Upload required documents. Typically, lenders ask to see proof of income, bank statements and a valid photo ID when you apply for a $5,000 loan.
  5. Sign and submit your agreement. Carefully read your loan’s terms and conditions before signing anything.
  6. Get your funds. Most lenders offering this amount can send it to your bank account as soon as one business day.

What to consider when comparing $5,000 loans

Weigh these factors before applying for a loan.

Pros

  • Most personal loan providers offer $5,000
  • Available at banks, credit unions and online
  • Options for good, fair and bad credit scores

Cons

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

Watch out for high costs

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.

3 tips to get approved for a loan with bad credit

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.

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 overborrow 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

Answers to common questions about getting a $5,000 loan.

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.

Can I repay my loan early?

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.

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.

How long will it take to receive my funds?

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.

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.

Can I get a $5,000 loan with a 650 credit score?

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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86 Responses

    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

    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

    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

    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

    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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