Where can I get a $1,000 loan?

Most major lenders offer $5,000 loans, though approval depends on the borrower’s credit history and ability to pay. Some of the best lenders for a $5,000 loan include LightStream and SoFi, which offer $0 origination fees, the chance for very low APRs, and loan amounts ranging from $5,000 to $100,000. LendingPoint also is a great choice, for people with bad credit, as its minimum credit score requirement is just 580.… read full answer

Nearly every major personal loan provider’s minimum loan amount is $5,000 or less. Many lenders start more in the $1,000 - $3,000 range, but very few have a minimum that’s above $5,000. One exception is FreedomPlus, which won’t lend less than $7,500. But if you’re looking for a $5,000 loan, you have virtually the entire market to choose from. That will allow you to be more selective about which lenders you apply with. Different lenders are better for different purposes.

People with credit ratings ranging from bad to excellent may be able to find a $5,000 loan that works for them. Just keep in mind that unless your credit score is at least 660 (which is in the fair credit range), you likely won’t be able to qualify for a personal loan that doesn’t have an origination fee. An origination fee is an extra charge that you pay for loan processing, usually ranging from 1% to 8% of the loan amount. Most of the best lenders for a $5,000 loan don’t charge origination fees, but some do, such as LendingPoint (up to 6%) and Payoff (up to 5%).

Because there are so many different options for a $5,000 personal loan, it’s best to check which loans you’re pre-qualified for and then compare your offers from there. You can use WalletHub’s free pre-qualification tool, which doesn’t hurt your credit, to see which personal loan providers have a high likelihood of approving you.

There are a few alternatives to personal loans you can consider, too.

Alternatives for $5,000 Loans

• Home equity loans: Borrow money based on the difference between your home’s value and your mortgage balance.
• Credit cards: Charge your purchase to a high limit credit card, preferably with a 0% introductory APR.
• Friends and family: People you know well might be willing to lend you money, and with better terms than a traditional lender.
• Expensive options: You could get a loan from an auto title lender or pawnshop, but these are generally far too expensive to consider except as a last resort.

While there are plenty of places to get a $5,000 loan other than personal loan providers, they all have disadvantages. Home equity loans are secured by your house, using credit cards can impact your credit utilization ratio, and borrowing from friends and family could jeopardize your relationship.

In general, it’s best to go for a personal loan or a credit card with a 0% introductory APR.

You can get a personal loan of $1,000 to $100,000. The amount depends on the lender and your overall creditworthiness when you apply. That means your credit score, income and existing debts will have a big impact on how much of a personal loan you can get approved for.

Each personal loan company has its own minimum and maximum loan amounts, along with unique policies to determine how much different types of applicants should receive. Below, you can see how big (or small) of a loan you might be able to get from some of the most popular lenders.… read full answer

How Much Personal Loan You Can Get by Lender:

One good way to see what personal loan amounts you may be able to get is to use WalletHub’s personal loan comparison tool. You can filter for how big of a loan you want, along with other factors like your credit standing, on the left side of the page.

Once you compare your options, it’s a good idea to see if you’re pre-qualified before you apply. Pre-qualification shows you which lenders are likely to approve you, along with the rates that you’re likely to get if approved. You can get pre-qualified for multiple lenders at once using WalletHub’s free pre-qualification tool.

You can get a $2,000 loan from lenders such as Citibank, Avant, Best Egg, and Prosper. The best place to get a $2,000 loan is Citibank because Citi offers personal loans of $2,000 to $50,000 and never charges an origination fee. Most big lenders that don’t charge origination fees have loan minimums above $2,000.… read full answer

If you’d like to see what $2,000 loan options you might qualify for, use WalletHub’s free pre-qualification tool. You can specify a loan amount of $2,000 and then check which lenders are likely to approve you as well as what rates you might get.

Where to Get a $2,000 Loan

• Citibank: Loans of $2,000 to $50,000. APRs of 7.99% - 23.99%.
• Avant: Loans of $2,000 to $35,000. APRs of 9.95% - 35.99%.
• Best Egg: Loans of $2,000 to $50,000. APRs of 7.99% - 35.99%.
• LendingClub: Loans of $1,000 to $40,000. APRs of 7.04% - 35.89%.
• Prosper: Loans of $2,000 to $40,000. APRs of 6.99% - 35.99%.
• Upstart: Loans of $1,000 to $50,000. APRs of 5.35% - 35.99%.

The most important things to consider when shopping for a $2,000 loan are the APR range, origination fee, and credit score requirement. If you have bad credit, you may want to take out a loan from a lender with higher APRs but much lower approval requirements, like Avant. But if you have better credit, you can go for a loan with a higher credit score requirement and the potential for lower APRs and fees.

Good Alternatives for a $2,000 Loan

Home equity loans

Home equity loans let you borrow money secured by your house. The maximum amount you can borrow is a percentage of the difference between your home’s value and your mortgage balance. You’ll usually have 5 to 30 years to pay off a home equity loan. The downside is that if you can’t pay the loan back, you could face foreclosure.

Credit cards

Depending on what you need money for, you might have the opportunity to charge it to your credit card if you have a high enough limit. However, you should note that it’s ideal for your credit score to use less than 30% of your available credit.

Friends and family

People you know well might be willing to lend you money, and with better terms than a traditional lender. It’s important to treat these loans as seriously as you would a traditional loan, though.

Places to Avoid for Getting a $2,000 Loan

Auto title lender

You can borrow against your car’s title for 15 to 30 days, but these loans are extremely expensive, charging up to 25% of what you borrow. Plus, you can lose your car if you can’t repay what you owe.

Pawnshop

You can exchange an item to receive part of its value in cash. Then, you have a certain amount of time to repay the money with interest, around 2% to 25% per month, and reclaim your item. If you don’t repay the money, the pawnshop will sell your item instead.

Payday lender

Payday loans let you borrow against your next paycheck. They often charge fees equivalent to a 400%+ APR, and it’s unusual for payday loans to offer more than $1,000 in funding.