How to Borrow $5,000 With No Credit Check

Most major lenders offer $5,000 loans, though approval depends on the borrower’s credit history and ability to pay. Some of the best lenders for a $5,000 loan include LightStream and SoFi, which offer $0 origination fees, the chance for very low APRs, and loan amounts ranging from $5,000 to $100,000. LendingPoint also is a great choice, for people with bad credit, as its minimum credit score requirement is just 580.… read full answer

Nearly every major personal loan provider’s minimum loan amount is $5,000 or less. Many lenders start more in the $1,000 – $3,000 range, but very few have a minimum that’s above $5,000. One exception is FreedomPlus, which won’t lend less than $7,500. But if you’re looking for a $5,000 loan, you have virtually the entire market to choose from. That will allow you to be more selective about which lenders you apply with. Different lenders are better for different purposes.


Best For

Loan Amounts



Low minimum APR

$5,000 – $100,000

3.99% – 19.99%


No fees

$5,000 – $100,000

7.99% – 22.73%

American Express

Low maximum APR

$3,500 – $40,000

6.98% – 19.98%


Bad credit

$2,000 – $36,500

7.99% – 35.99%


Quick funding

$3,500 – $40,000

6.99% – 19.99%


Credit card consolidation

$5,000 – $35,000

5.99% – 24.99%

People with credit ratings ranging from bad to excellent may be able to find a $5,000 loan that works for them. Just keep in mind that unless your credit score is at least 660 (which is in the fair credit range), you likely won’t be able to qualify for a personal loan that doesn’t have an origination fee. An origination fee is an extra charge that you pay for loan processing, usually ranging from 1% to 8% of the loan amount. Most of the best lenders for a $5,000 loan don’t charge origination fees, but some do, such as LendingPoint (up to 6%) and Payoff (up to 5%).

Because there are so many different options for a $5,000 personal loan, it’s best to check which loans you’re pre-qualified for and then compare your offers from there. You can use WalletHub’s free pre-qualification tool, which doesn’t hurt your credit, to see which personal loan providers have a high likelihood of approving you.

There are a few alternatives to personal loans you can consider, too.

Alternatives for $5,000 Loans

  • Home equity loans


    Borrow money based on the difference between your home’s value and your mortgage balance.

  • Credit cards


    Charge your purchase to a

    high limit credit card

    , preferably with a

    0% introductory APR


  • Friends and family:

    People you know well might be willing to lend you money, and with better terms than a traditional lender.

  • Expensive options:

    You could get a loan from an auto title lender or pawnshop, but these are generally far too expensive to consider except as a last resort.

While there are plenty of places to get a $5,000 loan other than personal loan providers, they all have disadvantages. Home equity loans are secured by your house, using credit cards can impact your credit utilization ratio, and borrowing from friends and family could jeopardize your relationship.

In general, it’s best to go for a personal loan or a credit card with a 0% introductory APR.

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