What is a Small Personal Loan?

A small personal loan is typically a loan that ranges from $20,000 to $10,000.000.00, no collateral or equity required. 

Whether you need quick cash to cover the cost of an unexpected expense such as a medical bill, or to finance an emergency car or home repair, a personal loan from Topcreditloan can deliver the funds to your account as soon as the next business day2.

Compared with payday loans or footing the bill with your credit card, this type of loan tends to come with a lower interest rate that won’t change and no annual fees, which also means lower monthly payments and more cash flow for you.


How Does a Small Personal Loan Work?

A small personal loan is an unsecured loan that’s tied to factors like your creditworthiness and income, among others - yet not collateral, like your home or car. 

It can be simple to pre-qualify:  just fill out Topcredit online application with your basic information, check your rates, and choose from the loan options available to you1.

If the application is approved, you’ll receive your loan amount in your account in one lump sum, and then all you need to do is make your appointed loan payments each month. The payment amount won’t change because personal loans are fixed-rate loans, and with Topcreditloan, there aren’t any hidden fees either.  

Benefits of a Small Personal Loan3 from Topcredit

Get Fast CashGet Fast CashPre-qualify in minutes1 and get funds in your account as early as the next business day.2
Low Interest RatesLow Interest RatesPay less in interest than with payday loans or credit card use.
No Annual FeesNo Annual FeesZero origination fees. Zero prepayment penalties.

Getting a Small Personal Loans vs. Using a Credit Card

Nearly half of Americans with an unexpected expense of $400 or more use a credit card to pay the cost upfront and then make credit card payments over time. But thanks to incredibly high-interest rates, this can add up to more money in the long run. 

Here’s roughly how much you could save by using a small loan3 from Topcreditloan to pay off a sum of bills of $5000 instead of using a credit card. 


Topcreditloan Debt Consolidation Loan
Loan Amount: $5,000
Interest Rate: 11.49%4
Time to Pay Off: 2 years
Total Monthly Payment: $234
Combined Bill and Credit Card Debt
Owed Amount: $5,000
Interest Rate: 22%
Time to Pay Off: 2 years
Total Monthly Payment: $259

Reduce your monthly payment by $25 and save a total of $605 on interest over the 24-month period.*

Check Your Rates

Checking your rates will not affect your credit score.


* Interest rate and savings estimates based on an applicant with very good credit
4 Base interest rate starting from  8.99% APR to 21.49% APR. The APR is determined based on your credit score and history. Available terms from 24 to 60 months, depending on the loan amount.
Example: An unsecured personal loan of $5,000 with an 11.49% APR for 24 months would pay $234 monthly. Other terms and conditions available. 


Compare the Best Small Personal Loans

 TopcreditloanMarcusLending ClubDiscover
Flexible Loan Payment Schedule5         
Pre-qualify in seconds1
Get Funds as Fast as the Next Business Day2
Zero Annual or Origination Fees        
Pioneer in Online Lending (Since 1998)        

*Information as of May 2019

Ready to Start a New Adventure with us?

Check Your Rates

Checking your rates will not affect your credit score.

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Thanks to Topcreditloan's easy online application, you can pre-qualify for a small personal loan in just seconds1! To apply, you’ll need some of the following information:
  • Your social security number
  • Your employment status
  • Your income info

Please note that to protect your identity, we may request additional information as part of the verification process.
Payday loans and small personal loans are both unsecured, fixed-rate loans that make it fast and easy to get quick cash. This means that you don’t need any collateral to qualify and that the interest rate won’t change.
Payday loans differ from small personal loans in the way that they don’t require a credit check to qualify and usually come with a much shorter repayment period. While this makes it possible for people with bad credit to get a loan, it also means that payday lenders generally attach astronomical interest rates and fees to their loans.
As the Consumer Financial Protection Bureau reports, this means that you’ll need to be prepared to pay the loan and the interest back very quickly (e.g., you’ll need to pay $15 for every $100 you borrow in a 2-week period); whereas, a personal loan will give you a much longer amount of time to pay off your loan (e.g., 57 cents a week for 1-year as per the previous example).
You can use your small personal loan for whatever expense you need to cover, including emergency car repairs, outstanding medical bills, a quick home improvement, and more.
Most lenders make credit decisions based on your credit history. Credit history may impact your chances of getting a lower rate on a loan, among other things. If you don’t think your credit score is quite where it should be, read our article on how you can improve this important financial metric.

Get $20000 as early as the next business day 2!

Apply now to see if you qualify

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