Where can I get a $5,000 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.

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.

SoFi disclosure: Fixed rates from 8.74% APR to 35.49% APR. APR reflects the 0.25% autopay discount and a 0.25% direct deposit discount.

SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 11/03/25 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors.

Loan amounts range from $5,000–$100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.

Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.

Direct Deposit Discount: To be eligible to receive an additional (0.25%) interest rate reduction on your Personal Loan (your “Loan”), you must set up Direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A., or enroll in SoFi Plus by paying the SoFi Plus Subscription Fee, all within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled Direct Deposit to an eligible Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion, or during periods in which SoFi successfully receives payment of the SoFi Plus Subscription Fee. This discount will be lost during periods in which SoFi determines you have turned off Direct Deposit to your Checking and Savings account or in which you have not paid for the SoFi Plus Subscription Fee. You are not required to enroll in Direct Deposit or to pay the SoFi Plus Subscription Fee to receive a Loan.

Direct Pay: Terms and conditions apply. Offer good for personal loan customers with credit cards and personal loans in their name only and subject to lender approval. To receive the offer, you must: (1) register and/or apply through this landing page; (2) complete a loan application with SoFi within 90 days of your application submit date; (3) meet SoFi’s underwriting criteria; (4) apply 50% or more of your loan proceeds directly to your lenders/creditors. Once conditions are met and the loan has been disbursed, the interest rate shown in the Final Disclosure Statement will include an additional 0.25% rate discount. SoFi reserves the right to change or terminate the Direct Pay Rate Discount Program to unenrolled participants at any time with or without notice. It takes about 3 business days for your creditor/lender to receive payment after your loan is signed. You will be responsible for making all required payments to avoid credit card and other loan fees.

To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2024 was around $33K. Information current as of 11/03/25.SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.