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.
Provider
Requirements
Best for …
Finder rating
OppLoans
Direct deposit, meet minimum income requirements, live in eligible state
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.
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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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:
Compare lenders. Compare loan amounts, rates, terms and eligibility requirements to find an option you can afford that accept your credit score range.
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.
Review and submit. Double-check your application for mistakes before submitting it.
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.
Sign and submit your agreement. Carefully read your loan’s terms and conditions before signing anything.
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:
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.
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
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
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.
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!
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.
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
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.
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.
Even with a low credit score, you can still get a loan to consolidate your debts. You can contact a lender that offers bad credit personal loans. Please note though that the APRs would be higher compared to the APRs offered to a borrower with a higher credit score.
Kindly note that short term loans and payday loans may actually vary because not all states are legalizing this. The interests and the types of loans may vary as well. You may try checking with the list of lenders that may be able to consider you for a loan even without a credit check. Please make sure that you have met the requirements before submitting an application.
Hello i want to borrow $5000. My credit.score os 580. I was approved by a lender but the deal did not go through because the lender wanted my tax returns for the last two years. I work as an independent truck driver. I work under 1099 not w2. I have not done those taxes yet. Is there any lender that will loan me $5000 based on just my paystubs. I do have some 1099 tax statements from companies that i have worked for. But my taxes have not been done yet. Do you have any suggestions. Thanks
Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
There are other loan options available. All you’ll need is to show that you can repay the loan by providing evidence of a regular income. Lenders have different requirements and eligibility criteria. You may check with them directly first before applying for a loan. You’re actually already on the correct page on where you can compare your options for $5000 loans.
Trying to obtain a loan for 4,000 for an emergency situation with poor credit . What is my best option ? I have been turned down. I really need some help !
Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
When you have a poor credit history, you’re usually not eligible for a loan from a bank or traditional credit lender. However, there are other loan options available. All you’ll need is to show that you can repay the loan by providing evidence of a regular income.
There are payday loan providers that offer bad credit cash loans that you may apply for. With these lenders, no matter your credit history, you may still qualify for a loan.
Am in Ghana and I need an urgent loan to pay my debts how can I get it. Am unemployed too but have my own personal business doing but due to financial crisis my business is down now.
Generally, it’s still possible for you to get a loan if you are unemployed however, you’ll need to be earning some form of income or have suitable income-earning assets to repay the loan such as welfare payments, being self-employed or receiving a regular deposit into your account from investments.
Please ensure that you meet all the eligibility criteria and read through the terms and conditions before applying and making a decision on whether it is right for you.
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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
With a poor credit score, how likely am I willing to get a debt consolidation loan? I have no assets. Which type of loan suits me?
Hi Nanci,
Thanks for getting in touch.
Even with a low credit score, you can still get a loan to consolidate your debts. You can contact a lender that offers bad credit personal loans. Please note though that the APRs would be higher compared to the APRs offered to a borrower with a higher credit score.
Cheers,
May
No credit check loan for $5000.
Hello Peter,
Thank you for your comment.
Kindly note that short term loans and payday loans may actually vary because not all states are legalizing this. The interests and the types of loans may vary as well. You may try checking with the list of lenders that may be able to consider you for a loan even without a credit check. Please make sure that you have met the requirements before submitting an application.
Regards,
Jhezelyn
Hello i want to borrow $5000. My credit.score os 580. I was approved by a lender but the deal did not go through because the lender wanted my tax returns for the last two years. I work as an independent truck driver. I work under 1099 not w2. I have not done those taxes yet. Is there any lender that will loan me $5000 based on just my paystubs. I do have some 1099 tax statements from companies that i have worked for. But my taxes have not been done yet. Do you have any suggestions. Thanks
Hi Keith,
Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
There are other loan options available. All you’ll need is to show that you can repay the loan by providing evidence of a regular income. Lenders have different requirements and eligibility criteria. You may check with them directly first before applying for a loan. You’re actually already on the correct page on where you can compare your options for $5000 loans.
Best regards,
Rench
Trying to obtain a loan for 4,000 for an emergency situation with poor credit . What is my best option ? I have been turned down. I really need some help !
Hi Heath,
Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
When you have a poor credit history, you’re usually not eligible for a loan from a bank or traditional credit lender. However, there are other loan options available. All you’ll need is to show that you can repay the loan by providing evidence of a regular income.
There are payday loan providers that offer bad credit cash loans that you may apply for. With these lenders, no matter your credit history, you may still qualify for a loan.
Best regards,
Rench
Am in Ghana and I need an urgent loan to pay my debts how can I get it. Am unemployed too but have my own personal business doing but due to financial crisis my business is down now.
Hi Diana,
Thank you for your inquiry.
Generally, it’s still possible for you to get a loan if you are unemployed however, you’ll need to be earning some form of income or have suitable income-earning assets to repay the loan such as welfare payments, being self-employed or receiving a regular deposit into your account from investments.
Please ensure that you meet all the eligibility criteria and read through the terms and conditions before applying and making a decision on whether it is right for you.
I hope this information has helped.
Cheers,
Harold