An emergency loan is a personal loan that offers a smart and effective way to cover unplanned and completely unpredictable costs and expenses. After all, you can’t budget for everything and no matter how much you work to expect the unexpected, sometimes there’s simply no way to know what’s ahead.

You might need fast access to cash to take care of unexpected events, such as a machinery breaking down or an emergency medical expense. Borrowers with strong credit will score the lowest rate on an emergency personal loan.