What Is an Emergency Loan?
An emergency loan is a loan you can take out on short notice to cover emergency expenses. And there are multiple types of emergency loans, including personal installment loans (i.e., the Lendly loan by CC Connect), payday loans, and title loans. But not every emergency loan is created equal.
For instance, personal installment loans are unsecured loans that borrowers pay back in increments. This makes them different from payday loans, which borrowers must pay off all at once. It also separates them from title loans — secured loans in which borrowers are required to put up their car as collateral in case they fail to repay their loan.
Similarly, emergency loan terms vary by lender. Different lenders will offer different loan amounts, interest rates, and repayment terms, making some emergency loans more difficult to repay. And more difficult to acquire — especially if you have bad credit.
How to Get an Emergency Loan with Bad Credit
Emergency expenses are hard enough. Bad credit can make it even harder, as a poor credit score can prevent lenders from approving you for the loan you need. But that doesn’t mean it’s impossible. Trying to get an emergency loan with bad credit? Identify your credit score and research the emergency loans this score may still qualify you for. And before you apply for one, make sure you consider the following factors:
- Repayment Terms: Will repayment take place through monthly payments or does the loan amount have to be paid back all at once? If the loan is being repaid over time, will you be able to afford the minimum payment amount each period? Before signing off on a loan, you want to make sure you can afford the repayments to successfully pay it off.
- Fees and Penalties: Some lenders will charge loan origination fees, late payment fees, and even prepayment penalties. Other lenders don’t. Make sure you know who does so you don’t pay more of your hard-earned money than you need to.
- Interest Rate: It’s best to consider the annual percentage rate (APR) before finalizing any paperwork. Your APR will determine the true effective cost of borrowing.
- Potential Credit Score Impact: Does the lender report to the major credit bureaus? If they do, your on-time payments can help boost your credit score! If not, you might not experience the credit lift you deserve.
Bad credit doesn’t mean you’ll never be approved for an emergency loan. At Lendly, for instance, we know you’re more than your credit score. That’s why bad credit doesn’t automatically disqualify you from receiving the online Lendly loan by CC Connect. If you’re an honest person working an honest job, we’re ready to help you overcome emergency expenses.
Where Is Lendly Available?
Lendly loans are currently offered in 22 states:
- Alaska
- Alabama
- Arizona
- Arkansas
- Delaware
- Florida
- Idaho
- Indiana
- Kentucky
- Louisiana
- Michigan
- Mississippi
- Montana
- Ohio
- Oklahoma
- South Carolina
- Tennessee
- Texas
- Utah
- Wisconsin
- Wyoming
- Missouri
Don’t see your state? Check back periodically — additional states are always being added.
What Do You Need To Apply?
Applying for the Lendly loan by CC Connect is quick and easy. The application usually takes just five minutes! Here’s all you need to get started:
Personal Information
- Name
- Date of Birth
- Physical Address
- Email Address
- Phone Number
- Social Security Number
Employer & Income Information
- Employer Name
- Hiring Date (Month and Year)
- Take Home Amount (per Paycheck)
- Additional Income Amount (per Month)
Banking Information
- Bank Name
- Account Type
- Routing Number
- Account Number
That’s it! The application is as straightforward as it sounds. You just need to complete some automated verification steps, and in some cases additional documentation may be needed. But don’t worry, we’ll walk you through the process and make it as easy as possible.
Why Choose Lendly
Emergencies can be costly. Really costly. But a Lendly loan by CC Connect can help alleviate some of the immediate financial pressure. You can get the cash you need, right when you need it — even if you don’t have perfect credit.
Here are a few reasons to choose a Lendly loan when considering your emergency loan options:
- Easy to Apply: You can apply online in a matter of minutes.
- Fast Funding: If approved, receive the full loan amount from CC Connect in your bank account in as fast as 24 hours.
- First-Rate Customer Service: Have questions? We have answers. Need a helping hand? Grab ours. Lendly supports you with world-class customer service from application to final payoff.
- No Hidden Fees: No application fee, no loan origination fee, and no prepayment penalty. With a Lendly loan, what you see is what you get.
- Automatic Payments: Lendly’s payroll linking technology makes it easy to set up automatic payments from your paycheck, so you never have to worry about forgetting a payment.
- Could Boost Your Credit Score: Lendly doesn’t want you to have bad credit any more than you do. That’s why your payment history is reported to the three major credit bureaus. Keep making on-time payments and you could see a bump in your credit score!
