Where to Find Small Personal Loans
Small personal loans can help you out of a financial pinch. We rounded up several lenders to find small loans online—as well as the alternative loans you’ll want to avoid in the process.

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It’s no secret that money causes stress—especially when you’re short on it. But falling behind on your utility bills, credit cards, and other debts? That also has an additional consequence: It sends your credit score plummeting.
This can mean higher interest rates and fewer financial opportunities down the line. It can even prevent you from buying a car or becoming a homeowner. Fortunately, if you ever find yourself in a financial pinch, you’re not without options.
In fact, small personal loans can be a smart solution, offering flexibility, quick cash and, most importantly, lower interest rates than you’ll find on credit cards. This guide will break down where you can find small loans online, as well as alternatives to small loans you may want to consider.
In this guide:
- Where to find small loans online
- What you need to apply for small personal loans
- How fast you can expect funding
- Other options if you need small short-term loans
- Read this before taking out short-term loans
Where to find small loans online
There are a lot of places you can find small personal loans—both online and off. To help streamline your search, we’ve listed the small loan options below.
$1,000 personal loans
Although these loans may be slightly more common, they’ll still be harder to find than bigger loans. Fortunately, there are at least a couple of options to choose from. Here are some options depending on your credit history.
Upgrade
Rates (APR)
7.99% – 35.97%
Loan Amounts
$1,000 – $35,000
Credit Score
620+
Upgrade is best-suited for borrowers with bad or fair credit. They provide flexible repayment terms and will even let customers change their payment dates to better fit their budget. Potential borrowers can check rates without affecting their credit score as Upgrade does an initial soft pull on credit.
- Credit score category: Fair, bad
- Soft credit pull to check rates: Yes
- Deposit time: As soon as the next day
- Origination fee: 2.9% – 8%
- Late fee: $10
- Repayment terms: 36 or 60 months
Upstart
Rates (APR)
8.41% – 35.99%1
Loan Amounts
$1,000 – $50,0002
Credit Score
600+
Upstart is an online lending platform that partners with banks to provide personal loans that can be used for almost anything. Upstart’s lending model considers education, employment, and many other variables when determining eligibility.3 This model leads to 27% more approvals and 16% lower rates than traditional models.4
- Credit score category: Fair, bad
- Soft credit pull to check rates: Yes
- Deposit time: As fast as one business day
- Origination fee: 0% – 8%
- Late fee: $15 or 5% of payment
- Repayment terms: 36 or 60 months
$2,000 personal loans
Need a little more money to cover certain expenses? Much like $1,000 personal loans, $2,000 personal loans may be hard to come by. Fortunately, Avant has a minimum of $2,000 and may be a good option.
Avant
Rates (APR)
9.95% – 35.99%
Loan Amounts
$2,000 – $35,000
Credit Score
580+
Avant provides competitive rates, quick funding, and a variety of repayment terms to borrowers with bad or fair credit. Their transparent platform makes it easy for borrowers to understand what loans and terms are available to them. With a straightforward application process, borrowers might receive funding as soon as the next day.
- Credit score category: Fair, bad
- Soft credit pull to check rates: Yes
- Deposit time: As soon as the next day
- Origination fee: 4.75%
- Late fee: $25
- Repayment terms: 24 – 60 months
$5,000 personal loans
If you’re in need of $5,000 or more in cash, then the options are plentiful. The majority of lenders have a minimum loan amount of $5,000, as this ensures they make enough to cover the costs of originating and administrating the loan.
As with other categories, the best lender for your $5,000 personal loan will depend largely on your credit. Here are two options.
LightStream
Rates (APR)
3.49% – 19.99%*
with AutoPay
Loan Amounts
$5,000 – $100,000
Credit Score
660+
LightStream ranks as our best overall personal loan lender with low rates and no fees. The application is quick and borrowers may receive their loan the same day they apply. If you have excellent to good credit, LightStream is a great option.
- Credit score category: Excellent, good
- Soft credit pull to check rates: Not available
- Deposit time: As soon as the same day
- Origination fee: 0%
- Late fee: None
- Discounts: 0.50% interest rate reduction for enrolling in autopay
- Repayment terms: 24 – 144 months**
Payoff
Rates (APR)
5.99% – 24.99%
Loan Amounts
$5,000 – $35,000
Credit Score
640+
Payoff was founded in 2011 with the main goal of helping borrowers finance debt consolidation and save money. They offer low rates and a variety of repayment terms. You must have at least fair credit to qualify.
- Credit score category: Good, fair
- Soft credit pull to check rates: Yes
- Deposit time: 3 – 6 business days
- Origination fee: 0% – 5%
- Late fee: None
- Repayment terms: 24 – 60 months
Small loans for less than $1,000
If you’re in need of just a small amount of cash, your best bet is your bank or a credit union. Lenders need to cover their administrative costs when loaning out money, and loans of less than $1,000 just don’t offer the returns necessary to do that. Fortunately, there are a few options.
DCU
DCU, also known as Digital Federal Credit Union, is a New England-based credit union that offers bank accounts, insurance, real estate, and lending services.
In order to apply for a small personal loan from DCU, you must become a member first. Membership is only open to those with certain employers, addresses, and community ties.
PenFed Credit Union
PenFed is another credit union that offers under-$1,000 dollar loans. Membership is open to U.S. military members and employees of the Department of Defense and Homeland Security.
If you don’t fall into one of these groups, you can qualify by donating to the National Military Family Association or Voices for America’s Troops.
>> Read More: Personal loan limits
What you need to apply for small personal loans
To apply for a personal loan (no matter what size it is), you’ll usually need to be a U.S. citizen or permanent resident with some form of government-issued I.D. as well as proof of income, address, and other basic personal information. You’ll also need to submit to a credit check.
Here’s a full list of personal loan documentation you can expect to need.
How fast you can expect funding
One of the biggest benefits of personal loans is that they can be approved and issued fairly quickly, especially compared to other forms of financing.
Though it varies by lender and loan amount, you can generally expect to see your loan funded as soon as the next business day to up to a week.
Other options if you need small short-term loans
Small and short-term loans aren’t your only option if you find yourself in financial distress. Here are a few other choices you might consider in a pinch.
0% APR credit card
We generally don’t advocate for taking on credit card debt, as they come with high interest rates and ultimately cost more in the long run.
If you can find a 0% APR credit card, though, it can be a smart way to cover smaller costs when times get tough. Just make sure you pay off your debt before the no-interest period ends.
Even if the card’s 0% annual percentage rate lasts a full year, you’ll typically want to be confident you can pay off the amount you need within six months if you’re going to avoid costly interest charges and get yourself back on track.
Cash advance apps
If you just need a little bit to get you by until payday, then cash advance apps like Brigit or Earnin may be viable options. These let you borrow cash from upcoming paychecks.
Read this before taking out short-term loans
Think twice before taking out a title loan
Title loans allow you to use your car, motorcycle, or boat title as collateral, so you can borrow cash against it. For many, it seems like an easy way to get cash when you need it, but it also puts your property at serious risk.
If you don’t pay off your loan within the specific period (usually 15 to 30 days), then the lender can seize your vehicle, which may then disrupt your ability to work and earn additional income.
Title loans also come with extremely high interest rates and can lead to an ongoing cycle of debt if you’re not careful. For these reasons, the unsecured personal loans (i.e., no collateral) above are the best option for most people.
Beware of payday loans
Another type of loan to steer clear of is the payday loan. These offer small lump-sum loan payments that the borrower agrees to repay once their next paycheck (or pension or Social Security check) is received.
Like title loans, payday loans often come with sky-high interest rates as well—sometimes reaching 1,000% APR.
Payday loans are not permitted in every state.
The bottom line: Find the small personal loan that works for you
If you’re in need of quick cash to pay a bill or just get by, you have options—but not all of them are equal. Consider our top-ranked personal loans before looking toward payday or title loans, and be sure to shop around for the best rates and terms.
*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.
**Payment example: Monthly payments for a $10,000 loan at 5.95% APR with a term of three years would result in 36 monthly payments of $303.99.
1 The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 21.97% and 36 monthly payments of $35 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $12,646 including a $626 origination fee. APR is calculated based on 3-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application.
2 Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Loans are not available in West Virginia or Iowa. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5100. The minimum loan amount in GA is $3,100.
3 Although educational information is collected as part of Upstart’s rate check process, neither Upstart nor its bank partners have a minimum educational attainment requirement in order to be eligible for a loan.
4 If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.
Author: Aly Yale
