emergency loans

Urgent borrowed funds

Emergency loans are funds borrowed to cover urgent, unexpected expenses—medical bills, car repairs, or other crises that can't wait.

They're typically processed quickly, sometimes within hours, but often carry higher interest rates than conventional loans.

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

Banks, credit unions, and online lenders all offer them, with varying terms and requirements.

Related

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Categories
Opposites
urgency/planning

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Debt repaid over time

mortgage · installment loans · home equity loans · auto loans · student loans

financial direction

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Reserve for unexpected expenses

rainy day fund · savings · cash reserves · financial security · financial cushion

financial action type

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Returning borrowed money

savings deposits · paying down debt · wealth building

Family

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