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Personal Loans

Need Emergency Cash Due To Coronavirus Slow Down?


By Mark Huntley, J.D.

Real estate investor, lawyer, personal finance writer, and Co-Founder of Credit Knocks


Advertiser Disclaimer - Some links on this page may pay us advertising fees.



Summary: The Coronavirus has caused a lot of financial problems for people across the country. We review three great ideas to get emergency cash during the pandemic.

emergency loan, personal loan, installment loan, credit card, virtual assistant, side hustles

The novel Coronavirus-19 finally hit home in the U.S. when the President declared a state of emergency

I worry about how I am going to pay my bills during the next couple of months as the threat of the Coronavirus weighs heavily on my mind. 

It doesn’t seem to register to the people on the news and the government that some of us live paycheck to paycheck

If we don’t get a paycheck, then we can’t afford to pay for rent, food, and God forbid a doctor’s visit

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Now, I realize some people can borrow money from a family member or home equity line, but that may not be you.  This article is for people who have already exhausted all their options.  You've already negotiated your bills, cut out everything you can, and you still need money.

Luckily, we know of three good financial options you may have during this tough time. 

We will discuss side jobs that you can do from home, the best credit cards for emergency cash, and how to get an emergency loan fast.

The Fastest Way To Emergency Cash Is By Getting A Personal Loan

Personal loans or installment loans are available to people with bad credit to excellent credit so long as you can show the ability to pay the loan back. 

If you are looking for emergency cash to get over the hump with the Coronavirus, a personal loan is probably the best option.

Personal loans and installment loans can be funded as fast as the same day, and most of them can have the emergency loan in your account by the next day.  

Your credit score will determine the interest rates you will have to pay for the emergency cash. 

In most cases, if you have a fair or better credit score, the interest rates will be better than your credit card variable APR. 

You will have the option of using the personal loan for medical bills, to pay rent, or you could consolidate your credit cards into one low monthly payment. 

Lower monthly credit card payments will free up some future cash flow while freeing up additional emergency credit if needed. 

Check out the best personal loan and installment loan rates available based on your credit score in the chart below. 

Emergency Cash Personal Loans And Installment Loans

Personal Loan Credit Score Categories

Excellent Credit Score (760-850)

Good Credit Score

(690-759)

Fair Credit Score

(580-689)

Bad/Poor Credit Score

 (300-579)

How To Use Credit Cards As Emergency Cash

When you are low on cash and stuck at home due to the Coronavirus with not a lot of options, consider applying for a new credit card. 

The great thing about getting a new credit card is that it usually will improve your credit score because, when approved, your overall credit limit increases. 

Applying for a credit card does not cost you any money, and if approved, you will be able to purchase necessities with your new credit card. 

Quick Note:


Credit Cards are a great option when you need money fast!    

There are many excellent credit card opportunities for all credit score types. 

You can also take a cash advance from your credit card, but remember to order a pin # as soon as possible since they only will be sent in the mail, and you can’t get cash without it. 

Emergency Credit Card Loans

Credit Card Credit Score Categories

Excellent Credit Score (750-850)

Good Credit Score

(660-749)

Fair Credit Score

(600-659)

Bad/Poor Credit Score

 (300-599)

How To Make Emergency Cash From Home

With the Coronavirus closing down so many industries, many people have temporarily lost their jobs or have been asked to work from home. 

If you can’t work due to the Coronavirus shutdown and are stuck at home, there may be a few ways you can make some emergency money. 

Have you ever considered a side hustle?

There are many ways to make cash from your computer at home that maybe you haven’t considered. 

emergency loan, personal loan, installment loan, credit card, virtual assistant, side hustles

One of our top high paying side hustles that we recommend is to become a virtual assistant. 

Our friend Kayla was able to pay off a ton of debt  and make a six-figure income by becoming a virtual assistant

Whether the business is large or small, hiring virtual contract assistants to take care of small jobs to large long term projects has become a popular way to outsource labor. 

You can work as much as you like and find jobs that make you an extra $500 a month to full-time work making $10,000 a month from home. 

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Our friend, Kayla Sloan, went from earning $0 to $10,000 per month as a virtual assistant.  Now she's teaching how you can do it too!

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Take Action

Hopefully, you found this Need Emergency Cash Due To Coronavirus Slow Down article helpful. 

We thought these ideas may be useful on how you can get quick access to emergency cash. 

Getting an emergency loan during the Coronavirus outbreak and quarantine can help you get through this tough time. 

Consider getting a personal loan or installment loan if you need cash in the next day or two. 

Applying for a new credit card will also help alleviate the need for money during the pandemic. 

Or, becoming a virtual assistant while you are stuck home under quarantine is a great way to make a six-figure income and pass the time. 

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  1. Hello,
    I am looking to take out a personal loan for $2,000 but I can’t due to my low credit score and I don’t have a co-signer at the moment. I need it bad

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