What are Courtesy Loans

What are Courtesy Loans?

An emergency most usually happens when you are least prepared for it. A courtesy loan is a short term loan. They don’t need lots of documentation regarding your income or creditworthiness. 

What are Courtesy Loans?

While courtesy loans are, by definition short term loans, they are also known as short-term loans, quick loans and cash loans. They are designed to be quick and easy to apply for, and many of them are approved and funded on the same day. 

Why make use of a courtesy loan

An emergency can happen at any time, and to any of us.  An unexpected emergency can put a strain on your budget, even if you do manage your money properly. 

Perhaps your car needs urgent repair work, or you need a medical treatment. This is when applying for a courtesy loan can be the answer at a difficult time. 

A courtesy loan is quick and easy to apply for, and the funds are often available on the same day. It is an unsecured loan, and is made available for those with a regular income source. 

What do I need to apply for a courtesy loan? 

When you apply for your courtesy loan, the lender you have decided on will tell you what documentation you need. First, this is the loan application. Online loans make it a simple process for their customers and the application form is easy to complete. 

Proof of identity is also required to prove that you are a United States citizen or a permanent resident, and to prove that you are over 18 years of age. Two types of identification are required. These could be your driver’s license, your state-issued ID, passport, certificate of citizenship and birth certificate.

As there is no collateral backing with this type of loan, which does increase the lender’s risk. As such, it is important that you can verify that you do in fact have a steady source of income. You will need to provide documents that verify your income. Paystubs, tax returns, W-2s and 1099s, bank statements as well as your employer’s contact information are some of the documents you can use to verify your source of income. 

On the other hand, if you are self-employed, different documents are needed. These would include your 1099s, bank statements and income tax returns. 

Finally, you will also need a valid proof of address. Here, you can use a current utility bill, rental agreement, the proof of insurance on your home and your voter registration card. 

What else do I need to know?

As many courtesy loans are available online, it is worth having a look around to find one that best suits your needs. As a small personal loan, a courtesy loan is a great solution if you need a small amount of cash quickly. This could be used for an emergency, or to pay for an immediate expense, if you don ’t have access to emergency savings. 

An ideal courtesy loan should require monthly payments that do not exceed more than 5% of your monthly salary. Preferably, they should have fixed monthly payments and definitely not balloon payments. The loan term should also be between 3 and 12 months.  

While most lenders do have strict credit score requirements, there are a number of online lenders who do offer loans for bad credit. 

Have a look at these available courtesy loan companies

Upgrade offers personal loans from $1, 000 up to $50 000. They have low fixed rates, affordable fees and no prepayment fees. It is easy to apply online and the process is smooth and easy to follow.

Upstart. They can assist with fair and fast small loans from $1, 000 up to $50, 000 with 3 and 5 year loan terms. They do not have any prepayment fees and most loans are approved and sent within 1 business day of signing. 

Avant offers a quick, easy online process to get started. Offering loans from $2, 000 to $35, 000, their application process is clear and transparent.  They offer loan lengths from 24 to 60 months. However, they do request an administration fee of up to 4.75%.

Best Egg. This company can assist you with a hassle-free, small loan with a fixed rate. You can get a loan from $2,000 to $35,000 if you need emergency finds for an immediate expense. 

Personify. They are an online lender and offer a stress-free application process. All that is required to apply for a loan amount ranging from $500 to $10,000 are a few documents. These would include proof of your source of income, your checking account as well as a few personal details. Online applicants that are approved can receive their funds within 24 hours. 

How will a courtesy loan benefit me? 

Designed to provide easy access to quick financial relief for an emergency expense or bill, a courtesy loan is well worth considering. As it is a short-term personal loan, there aren’t any long-term commitments to repay the loan. 

The application process is easy to complete, and typically doesn’t require much in the form of documentation. Those who need a loan and have a low credit score can apply. 


A financial emergency isn’t an easy thing to deal with. There are, however, resources available to assist you when you need a little financial help. Courtesy loans are worth looking at. That said, be sure to read exactly what the terms are, and how they will impact you, before agreeing to any type of loan. 

Most courtesy loans can easily be applied for online and disbursement of the cash is quick, often within 1 business day.  The online application form is generally quick and simple to use, with very few documents needed for the application. The lender you choose will let you know exactly what documents are needed. 

Take your time when choosing your lender. Search and find the lender that will offer you the best interest rate, as well as the lowest fees. Use the examples listed to learn more about how they can best benefit you and your situation. 

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