What are the best emergency loans in North Dakota?

The best emergency loans for rent are personal loans from providers that offer quick approval and funding, such as Avant. An Avant personal loan can give a renter $2,000 or more for rent payments and other emergency expenses, with approval and funding as quickly as two business days after they apply. Other options for an emergency rent loan include LendingPoint and Achieve Personal Loans.… read full answer

Emergency loans for rent help renters pay their landlords on time, avoiding penalties such as late fees or even possible eviction. Paying late can also affect a renter’s chances of renting a different property in the future, as potential landlords may inquire into an applicant’s past rental history. Late payments may damage the renter’s credit score, too, if the landlord reports them to the major credit bureaus. Emergency loans for rent help to prevent those unfavorable situations, but come with costs of their own, such as interest and origination fees.

Best Emergency Loans for Rent:

• Avant: Approval and funding often within 2 business days. Up to 4.75% origination fee. APRs of 9.95% - 35.99%. 600 credit score required.
• LendingPoint: Approval and funding often within 2 business days. 0% - 6% origination fee. APRs of 9.99% - 35.99%. 620 credit score required.
• Achieve Personal Loans: Approval and funding within 2 - 3 business days. 0% - 5% origination fee. APRs of 5.99% - 29.99%. 620 credit score required.

Note: Credit score requirements come from the lenders or several third-party sources.

Personal loans aren’t the only option when it comes to emergency loans for rent. However, other choices tend to be much more expensive. You could take out a small, short-term loan from a payday lender, for example, but you would have to pay enormous fees in return (which can be equal to a 400%+ APR). That would take a big chunk out of your next paycheck and leave you in a bad situation by the time your next rent payment comes around.

Instead of a loan, you may want to seek out other ways to get extra cash for rent. Those include working longer hours, asking for an advance on your paycheck or asking your family for assistance. You might also want to simply talk to your landlord to see if they’ll offer you an extension on paying.

To get a loan quickly, apply online with a personal loan provider that is known for fast approval and funding times, such as LightStream. Applying online will ensure the fastest possible application processing time, assuming that all information on the application is accurate and entered correctly. You could get your loan funded within 2-3 business days, if not the same day.… read full answer

Secured personal loans also tend to provide quick decisions, as the collateral they require greatly reduces the lender’s risk. Even people with bad credit can get approved relatively easily. Other ways to get a quick loan include borrowing from a family member or friend, using a credit card or tapping into home equity. There are also some non-ideal options, such as payday lenders, auto title lenders and pawnshops.

How to get a quick loan in 2023

1. Apply for one of the quickest personal loans.

   The quickest personal loan provider, LightStream, can fund and approve loans as soon as the same day you apply. Many other lenders offer funding within 2 - 3 business days. For the fastest timeline, pre-qualify first, apply online, and fill out the application accurately.

2. Apply for a secured personal loan.

   Secured personal loans require collateral for approval. This ensures that the lender can still recoup its money even if the borrower is unable to repay what they owe. This makes the approval decision easier for the lender.

3. Borrow from family/friends.

   If you ask a family member or friend to borrow money, it’s possible you could get it pretty much instantly, since they won’t be performing a credit check or making you fill out an application. You should still take time to write down and sign a loan agreement, though.

4. Use a credit card.

   If you have a credit card, you may be able to charge your expenses if they add up to less than the card’s credit limit. But credit card APRs are expensive, around 19% on average for new offers and around 15% for all existing accounts.

   You could also withdraw cash against the card’s credit limit at an ATM, as long as you have a PIN. However, cash advances come with high fees and start accruing interest immediately, so they’re not ideal.

5. Use a HELOC.

   It takes weeks to get approved for a home equity line of credit, so normally they’re not a quick way to get money. However, if you already have one open, you can use it to get a quick loan any time during its draw period. Keep in mind that a HELOC is secured by your house, so if you can’t pay, the lender can foreclose.

Things to Avoid When Trying to Get a Loan Quickly

There are a few things you should definitely avoid when trying to get a loan quickly. Don’t go to payday lenders, which lend a small amount of money until your next paycheck comes in. They charge sky-high fees (often a 400%+ APR). Auto title lenders are bad, too, as they charge high fees (up to a quarter of what you borrow) and use your car as collateral. Similarly, avoid pawnshops, as they charge up to 25% interest per month and can keep your items if you’re unable to buy the loan back.

The best emergency medical loan company is LightStream because they offer the chance for approval and funding the same day the borrower applies. This won’t necessarily happen in all cases, but most loans get funded within 2 business days. For people who are in an emergency and need a fast loan of $5,000 to $100,000, this is the best bet. Of course, applicants also need to qualify for the loan, which reportedly takes a credit score of at least 660. LightStream doesn’t charge an origination fee, and their APRs are 5.95% to 17.29%.… read full answer

There are several other loans that are good for medical emergencies, too, offering reasonable APRs and fast processing times. Some even accept people with bad credit.

Good Emergency Medical Loan Options:

• LightStream: Approval and funding as soon as same day, usually within 2 business days. $0 origination fee. 5.95% to 17.29% APR. 660 credit score required.
• Marcus by Goldman Sachs: Approval and funding in 2 - 6 business days. $0 origination fee. 5.99% - 28.99% APR. 680 credit score required.
• Best Egg: Approval and funding in 1 - 3 business days. 0.99% to 5.99% origination fee. 5.99% - 29.99% APR. 640 credit score required.
• Avant: Approval and funding in 2 - 3 business days. 0% to 4.75% origination fee. 9.95% - 35.99% APR. 600 credit score required.

If you’re in an emergency and can’t get a loan quickly, you could always charge at least some of your medical expenses to a credit card, assuming you have enough credit available. That’s not the greatest idea, however, considering how high credit card APRs are. Another option is to ask a family member or friend to lend you the money. But if you do that, you should write up and sign an agreement to pay them back.