The best medical loans are from LightStream because it offers loan amounts from $5,000 - $100,000, which can easily cover costly procedures, along with an APR range of 7.49% - 25.99%.
LightStream’s origination fee is $0. You’ll need a credit score of at least 660 to qualify.
FreedomPlus offers the best medical loans with a low minimum APR. The company has a minimum APR of 8.99% and loan amounts from $5,000 - $50,000. To qualify for a medical loan from FreedomPlus, you’ll need a credit score of 620 or higher.
Best Egg offers the best medical loans for fair credit. You’ll need a credit score of at least 640 to qualify, and the company offers loan amounts from $2,000 - $50,000 with APRs of 8.99% - 35.99%.
LendingClub offers the best small medical loans. The smallest loan you can get from LendingClub is $1,000. The company also offers APRs from 8.98% - 35.99% and has a credit score requirement that’s reportedly in the 600-640 range.
Prosper offers the best medical loans for fast funding. You could receive your funds as soon as 1 business day after approval. The company also has loan amounts from $2,000 - $50,000 and an APR range of 8.99% - 35.99%. You’ll need a credit score of at least 640 to qualify.
Avant offers the best medical loans for bad credit, as applicants can get approved with a credit score of just 580 or higher. Avant also has loan amounts from $2,000 - $35,000 and an APR range of 9.95% - 35.99%.
Best Medical Loans Comparison
| Lender |
APR |
Loan Amount |
Score Required |
| LightStream |
7.49% - 25.99% |
$5,000 - $100,000 |
640-660* |
| FreedomPlus |
8.99% - 35.99% |
$5,000 - $50,000 |
620 |
| Best Egg |
8.99% - 35.99% |
$2,000 - $50,000 |
640* |
| LendingClub |
8.98% - 35.99% |
$2,000 - $50,000 |
600-640* |
| Prosper |
8.99% - 35.99% |
$2,000 - $50,000 |
640 |
| Avant |
9.95% - 35.99% |
$2,000 - $35,000 |
600 |
*According to multiple third-party sources
As you can see, lenders have a wide range of credit requirements for medical loans. And the lower the minimum requirements, the more expensive your potential costs tend to be. The average person should be able to qualify for a loan with most major lenders, but people with bad credit will have more limited options.
Tips for Getting the Best Medical Loan
- Avoid origination fees. Medical expenses are high enough without extra fees. If you have at least a 660 credit score, you should be able to find plenty of fee-free options.
- In emergencies, consider faster lenders. Some lenders can fund you in only a few business days. Some of the quickest options are LightStream, Marcus by Goldman Sachs, and Wells Fargo.
- Compare options in depth. Though you may feel pressed for time with medical expenses, it’s important to consider all facets of a loan in detail, including credit requirements, APRs, fees and payoff periods. WalletHub can help with the comparison process.
- Get prequalified. You can use WalletHub’s free pre-qualification tool to see the lenders with which you’re pre-qualified, so you don’t waste a hard credit pull on a loan application bound for rejection. While this doesn’t guarantee approval, it means your odds are very high.
- See if your medical provider is a lender. Some medical providers will offer special financing on their procedures. You may want to check what payment plans, if any, are available before resorting to taking out a loan.
