emergency loan

Urgent financial stopgap

An emergency loan is money borrowed on short notice to cover an urgent financial need—unexpected medical bills, car repairs, or avoiding eviction.

These loans typically have faster approval processes than conventional financing but often carry higher interest rates.

She took out an emergency loan to fix the furnace before winter.

Related

last resort · bailout · desperate · tight spot · quick · relief · advance · rainy day · borrowing · debt · high interest · interest · collateral · car title · hardship · bridge · short-term · paycheck

Categories
Opposites
planning and urgency

emergency loanterm loan

Fixed-schedule bank advance

mortgage · long-term loan · installment loan · auto loan · student loan

financial direction

emergency loanemergency fund

Reserve for unexpected expenses

rainy day fund · cash reserves · emergency aid · savings · financial cushion

Family

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Familiarity
Top 200,000
Profile
Used worldwide · Timeless · Negative · Everyday, not technical · Rated G