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Compare loans for people on disability
On a limited income? You still have options when you need extra cash.
Loans for people on disability — often called SSI loans — are available even if you have a limited income or less-than-stellar credit. While short-term loans are the easiest to qualify for, you may be able to find more competitive offers from federal credit unions or even the federal government.
Our top pick: Check Into Cash Payday Loan
Min. Loan Amount: $50
Max. Loan Amount: $1,000
Turnaround Time:
1 to 2 business days
Loan Term:
Varies by state
Requirements: Bank account, email address, phone number, US citizen or permanent resident, ages 21+
Safe, secure application
Use the money for any purpose
Receive funds as soon as next business day
Our top pick: Check Into Cash Payday Loan
Plus, get access to check cashing, cell phone top ups, bill pay and more at one of its many storefronts.
Min. Loan Amount: $50
Max. Loan Amount: $1,000
Turnaround Time:
1 to 2 business days
Loan Term:
Varies by state
Requirements: Bank account, email address, phone number, US citizen or permanent resident, ages 21+
Can I get a loan on disability if I have bad credit?
Yes, there are loans available for people who receive disability or SSI payments and have bad credit. Short-term lenders that offer payday, installment and auto title loans often accept poor-credit borrowers with limited income. You can generally borrow between $100 and $1,000 with a payday loan, and installment and auto title loans tend to come in even higher amounts. Terms range from a few weeks to over a year.
Just watch out: Short-term loans are expensive and not available in every state. Interest rates tend to be much higher than credit cards and other types of financing. Because of this, many financial experts advise against short-term borrowing when you’re on a fixed income.
Compare short-term loans available to people who receive SSI
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
What other types of loans are available for people on disability?
With SSI benefits capped at $783 per month for individuals, you might think short-term loans are your only option. But there are other types of financing you can consider first:
Social Security Disability loans. You may be able to receive a loan through SSI’s presumptive disability program. The loan amount is up to one month’s benefits, but you must be under extreme hardship — such as having no shelter or food — to qualify. To learn more, speak with your case worker.
Personal loans. If you have other forms of income, like a pension or child support, you might qualify for a personal loan. Otherwise, consider applying with a cosigner. Credit unions and online lenders typically have less-strict income and credit requirements than larger banks.
Home equity loans. Are you a homeowner? You may be able to borrow against your home’s equity through a home equity loan or line of credit. This is a secured loan — meaning you use your house as collateral — but it often comes with more lax eligibility criteria than an unsecured personal loan.
Credit card cash advances. This may be an option if you already have a credit card and haven’t borrowed up to your credit limit. Credit card cash advances have lower rates than payday loans, with APRs usually around 30% — not including additional fees.
Short-term loan alternatives. If you have bad credit or can’t qualify for a personal loan because of your limited income through SSI, you may want to consider a short-term loan alternative. Our guide includes a list of state resources.
With any of these loans, check to make sure you’re eligible before applying.
What does the Social Security Administration consider a loan?
A loan is any cash, food or shelter items you agree to pay back. As long as the agreement is enforceable by state law, it counts as a loan. This means it doesn’t count as income — unlike a gift you don’t have to repay — and doesn’t reduce your SSI benefits.
Alternative options for extra funds
You aren’t limited to borrowing when you’re on disability or receive SSI and need extra funds. Grants are another option to consider — and the best part is you don’t have to repay them. Here are a few resources to get you started:
While these grants are given to community organizations rather than individuals, this is a good place to find local HHS-funded programs that could help you.
Despite your limited income, there are still loan options available when you’re on disability. Just spend any funds the month you receive them so you don’t go over your SSI resource limit.
A loan is a sum of money or other asset provided to you by an organization or individual. It has an agreed-upon principal, interest rate and repayment plan.
A grant is like a loan, but you don’t have to repay the money or asset given to you. These are usually made by the federal or state government, corporations, foundations and trusts.
Neither will count as income or impact your SSI benefits. However, money you receive from a loan and don’t spend within the month may count toward your resource limit, which could impact your benefits.
Your benefits may be affected. If the loan is considered a bona fide, negotiable agreement — and in most cases, it will be — any repayments you receive the month after you lend someone money will be considered a resource. This will count as income and affect your eligibility for SSI benefits.
No, discrimination based on disability is illegal. However, this doesn’t mean you’re guaranteed approval. Lenders still look at your income, credit score and other criteria to determine your eligibility. If you don’t make enough in SSI or disability benefits to cover the amount you want to borrow, you may not be approved.
Kellye Guinan is a writer and editor with Finder and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.
Thanks for reaching out. The page you’re viewing is for US customers. As of this writing, our pages don’t have a list of disability loans in Canada. If you are seeking for other loans in Canada, you can refer to this page.
Hope this helps! For any clarifications, feel free to message us again.
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Is this in Canada
Hi Regina,
Thanks for reaching out. The page you’re viewing is for US customers. As of this writing, our pages don’t have a list of disability loans in Canada. If you are seeking for other loans in Canada, you can refer to this page.
Hope this helps! For any clarifications, feel free to message us again.
Best,
Nikki