| Lender | User ratings | Best for… | APR range | Loan terms | Loan amounts | Credit score required | |
|---|---|---|---|---|---|---|---|
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Short-term loans for fair credit | 9.95% to 35.95% | 12 to 60 months | $2,000 to $35,000 | 580 | See Personalized Results |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Short-term loans for customer satisfaction | 7.49% to 25.49% (with autopay) | 24 to 144 months | $5,000 to $100,000 | Not specified | See Personalized Results |
 | Small short-term loans | 7.99% to 17.99% | 12 to 60 months | $600 to $50,000 | 700 | See Personalized Results | |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Quick short-term loans | 8.99% to 25.81% (with discounts) | 24 to 84 months | $5,000 to $100,000 | 680 | See Personalized Results |
 | Secured short-term loan | 8.49% to 35.99% (with autopay) | 24 to 84 months | $1,000 to $50,000 | 580 | See Personalized Results | |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Short-term loan for bad or no credit | 6.40% to 35.99% | 36 and 60 months | $1,000 to $50,000 | 300 | See Personalized Results |
| APR range | 9.95% to 35.95% |
| Loan amounts | $2,000 to $35,000 |
| Loan terms | 12 to 60 months |
| Origination fee | Up to 9.99% |
| Funding timeline | As soon as the next business day |
| Minimum credit score | 580 |
| Pros | Cons |
|---|---|
Offers loans to those with bad and fair credit Highly rated mobile app for account management Offers approval in minutes | APRs not as competitive as some Possible origination fee $25 late payment fee Not available in all states |
Although you might have to pay an origination fee, it could still be worth it if you’re looking for a short-term loan.
Read our full Avant personal loan review.
Avant loans are unavailable in Hawaii, Iowa, Maine, Massachusetts, New York, Vermont and West Virginia.
| APR range | 7.49% to 25.49% with autopay |
| Loan amounts | $5,000 to $100,000 |
| Loan terms | 24 to 144 months |
| Origination fee | None |
| Funding timeline | As soon as the same day |
| Minimum credit score | Not specified |
| Pros | Cons |
|---|---|
Offers unique programs aimed toward customer satisfaction Competitive maximum APR Flexible term lengths No origination or late payment fees | Must have good-to-excellent credit to qualify No prequalification Cannot change monthly due date |
At 24 months, LightStream may not have the shortest minimum term length, but it doesn’t charge any fees or a prepayment penalty. Not all borrowers will qualify, however, since LightStream only approves those with at least good credit.
Read our full LightStream personal loan review.
| APR range | 7.99% to 17.99% |
| Loan amounts | $600 to $50,000 |
| Loan terms | 12 to 60 months |
| Origination fee | None |
| Funding timeline | As soon as the next business day |
| Minimum credit score | 700 |
| Pros | Cons |
|---|---|
Low minimum loan amount Offers joint loans Can prequalify | Must join credit union to borrow High credit score requirement $29 late payment fee |
Like many credit unions, PenFed’s APRs are lower than many online lenders, but its credit score requirements are steep. Only those with a score of 700 or higher may qualify. However, PenFed might approve you if you add a creditworthy co-borrower to your application.
Read our full PenFed personal loan review.
Other than its minimum credit score requirement, PenFed’s borrower criteria is vague. During the process, it may verify your income through your paystubs, retirement statements, bank statements or tax returns.
| APR range | 8.99% to 25.81% with discounts |
| Loan amounts | $5,000 to $100,000 |
| Loan terms | 24 to 84 months |
| Origination fee | 0% to 6% (not required) |
| Funding timeline | As soon as the same day |
| Minimum credit score | 680 |
| Pros | Cons |
|---|---|
Offers quick loans Unemployment Protection benefit could bring peace of mind No late payment fees | Must pay origination fee for lowest APR High minimum loan amount Not available to bad-credit borrowers |
You need to pay an optional origination fee to get SoFi’s lowest APRs. This lender also only makes sense if you need a large loan, as its minimum loan is $5,000.
Read our full SoFi personal loan review.
| APR range | 8.49% to 35.99% (with autopay) |
| Loan amounts | $1,000 to $50,000 |
| Loan terms | 24 to 84 months |
| Origination fee | 1.85% - 9.99% |
| Funding timeline | As soon as the next business day |
| Minimum credit score | 580 |
| Pros | Cons |
|---|---|
May offer lower APRs if you use your car as collateral Lower minimum credit score requirement Wide range of loan amounts | Not all cars qualify as collateral Charges an origination fee $10 late payment fee |
Secured loans can be risky. However, if you’re able to unlock Upgrade’s minimum APR by putting your car on the line, a secured loan could be worth it for the right borrower. Keep in mind that your car must be less than 20 years old and meet Upgrade’s other collateral requirements.
Read our full Upgrade personal loan review.
For Upgrade’s secured loans, your vehicle must meet the following requirements:
| APR range | 6.40% to 35.99% |
| Loan amounts | $1,000 to $50,000 |
| Loan terms | 36 and 60 months |
| Origination fee | 0.00% - 12.00% |
| Funding timeline | As soon as the next business day |
| Minimum credit score | 300 |
| Pros | Cons |
|---|---|
May be available if you have no or bad credit Low minimum APR Customer service available seven days a week (excluding major holidays) | Potential for high origination fee Only two term lengths offered Charges 5% of unpaid amount or $15 (whichever is greater) for late payments |
But just because Upstart approves you doesn’t mean your loan will be cheap. Its bad credit loans could come with an APR as high as 35.99%. Additionally, Upstart’s origination fee caps out at 12%, much higher than traditional lenders.
There is no standard definition of short-term loan, but generally, it’s a personal loan with short repayment terms. A term is the amount of time you have to repay your lender, and you choose it before the lender finalizes your loan. Sometimes, you can refinance a personal loan after the fact to make your term longer or shorter.
Short loan terms can range between 12 and 36 months, though they may be even shorter depending on the lender and type of loan. Short-term loans may also come with higher minimum monthly payments, but you’ll pay less interest than you would with long-term loans.
Taking out a short-term loan with bad credit may be possible, but you might want to take the steps below to boost your personal loan approval odds.
Get free credit score insights with Spring
Your credit score is more than just a number — so much of your life can be dictated by these three digits. Your credit score can make or break your ability to take out a loan, buy a new home or even land that dream job.
Keep your finger on your finances with LendingTree Spring. With Spring, you can check your credit score and see how it may be affected if you take out a short-term loan.
Whether a short-term loan is hard to get depends on your credit and the lender in question. Many of the best short-term loans are simply standard personal loans with a repayment term between 12 and 36 months.
Generally, it can be harder to qualify for an affordable personal loan with a credit score below 640, but some lenders are willing to loan to bad-credit borrowers at a higher APR.
The length of a personal loan term varies by lender and the type of loan you choose. For example, payday loans tend to have terms that only extend a few weeks. Traditional lenders may have terms that span at least one to three years.
As long as your lender reports your payments to the credit bureaus, on-time payments can build your credit. On the flip side, that means that late payments can hurt your credit, too. Not all lenders report to the bureaus, so you may want to spend time researching before taking out your short-term loan.
