For individuals with poor credit facing urgent financial needs, viable borrowing options include online personal loans from platforms like OppLoans or LendingClub, which offer flexible terms despite credit score limitations. Peer-to-peer (P2P) lending platforms such as Prosper or Upstart also cater to borrowers with subprime credit, connecting them with individual investors. Additionally, credit unions and community banks may provide small-dollar loans with lower interest rates through their "second chance" programs. Lastly, emergency assistance programs from nonprofits like United Way or local religious organizations can offer grants or interest-free loans for critical expenses.

These options are prioritized because traditional banks often deny loans to borrowers with credit scores below 600, leaving them reliant on higher-cost alternatives. Online lenders and P2P platforms use alternative data (e.g., income stability, transaction history) to assess eligibility, improving access compared to rigid credit scoring models. For example, a 2023 Federal Reserve report noted that 36% of U.S. adults with credit scores below 600 used online lenders for urgent funds, up from 24% in 2019. While APRs for online loans average 14-36%, they are significantly lower than payday loans (which exceed 400% APR) or title loans (300-300% APR), as per the Consumer Financial Protection Bureau (CFPB). Credit unions, however, offer the lowest rates (10-18% APR) through their not-for-profit structure, though membership requirements may limit accessibility. Emergency assistance programs, though less common, address immediate needs without debt, with 68% of recipients citing avoidance of predatory loans as a key benefit, according to the National Human Service Assembly (2022). Combining these avenues helps borrowers minimize financial harm while navigating credit challenges.