How to Get a $4,000 Personal Loan
A personal loan can provide the funds you need to cover planned and unplanned expenses, if you qualify. But that doesn't necessarily mean it's your best option when you need extra cash. Read on to learn the steps to take to get a $4,000 personal loan, the benefits and drawbacks of taking out a loan and some alternatives to consider if it's not a good fit for you.
How to Get a $4,000 Personal Loan
The list of expenses that can throw a wrench in your carefully planned budget is endless. Personal loans offer the cash you need to pay for almost any expense, and if you meet the lender's requirements, getting one is simple. Here's how.
1. Check Your Credit Score
Taking stock of your credit before you apply gives you an idea of how likely you are to qualify. The higher your scores, the more likely you are to qualify and receive lower rates with more favorable loan terms.
You can check your FICO® ScoreΘ and credit report for free at Experian to see out how your credit stacks up. If you don't like what you find, it may be better to delay your application if you don't need the money right away. Taking steps to improve your credit, such as getting all your accounts current and reducing your debt, may improve your chances of qualifying and help you get a lower rate.
Learn more: What Credit Score Is Needed for a Personal Loan?
2. Compare Multiple Lenders
Credit criteria and interest rates vary by lender. Getting multiple quotes and comparing offers from different lenders can help you find an affordable loan option that meets your needs. Be sure to compare offers from different types of institutions, such as banks, credit unions and online lenders to find the best available offer.
Many lenders allow you to prequalify, with a soft credit inquiry, letting you see your estimated rate, loan amount and loan term options without affecting your credit scores.
Tip: Prequalifying gives you a general idea of the rate, term and loan amount you may receive, but it's not a loan offer. If you submit a formal loan application, your rate and terms may differ.
Compare personal loan rates
Find APRs from 4.99% to 35.99% and flexible terms of 12 to 120 months. Loan amounts range from $1,000 up to $250,000, with funding available the same day or up to 7 days.
Offers from our partners
Est. APR6.70 - 35.99%
Loan amount$1,000 - $50,000
Est. monthly payment$1,806 - $31
Term36 - 60 mo
Est. APR5.99 - 35.99%
Loan amount$2,000 - $50,000
Est. monthly payment$1,806 - $61
Term36 - 60 mo
Est. APR4.99 - 32.39%
Loan amount$1,000 - $60,000
Est. monthly payment$2,030 - $44
Term24 - 60 mo
Est. APR8.74 - 35.49%
Loan amount$5,000 - $100,000
Est. monthly payment$3,237 - $228
Term24 - 84 mo
Est. APR6.45 - 33.64%
Loan amount$1,000 - $50,000
Est. monthly payment$1,731 - $31
Term36 - 60 mo
Est. APR8.99 - 35.99%
Loan amount$2,000 - $50,000
Est. monthly payment$1,806 - $91
Term24 - 60 mo
Est. APR7.70 - 24.50%
Loan amount$5,000 - $50,000
Est. monthly payment$1,453 - $225
Term24 - 60 mo
Est. APR11.11%
Loan amount$1,000 - $15,000
Est. monthly payment$327 - $88
Term12 - 60 mo
Est. APR7.99 - 35.99%
Loan amount$5,000 - $40,000
Est. monthly payment$1,445 - $226
Term24 - 60 mo
Est. APR7.99 - 35.99%
Loan amount$2,000 - $30,000
Est. monthly payment$1,187 - $90
Term24 - 48 mo
Est. APR6.99 - 26.99%
Loan amount$15,000 - $50,000
Est. monthly payment$1,526 - $672
Term24 - 60 mo
Est. APR9.95 - 35.95%
Loan amount$2,000 - $35,000
Est. monthly payment$1,264 - $92
Term24 - 60 mo
Est. APR6.39 - 24.99%
Loan amount$20,000 - $250,000
Est. monthly payment$5,686 - $390
Term60 - 120 mo
Est. APR10.24 - 26.39%
Loan amount$3,000 - $50,000
Est. monthly payment$1,390 - $139
Term24 - 72 mo
Est. APR9.99 - 35.99%
Loan amount$1,000 - $35,000
Est. monthly payment$1,264 - $32
Term36 - 60 mo
Est. APR8.47 - 33.64%
Loan amount$1,000 - $50,000
Est. monthly payment$1,731 - $32
Term36 - 60 mo
Est. APR18.00 - 35.99%
Loan amount$1,500 - $20,000
Est. monthly payment$723 - $54
Term36 - 60 mo
View all of our Best Personal Loans for 2026 to see what you’re likely to qualify for, and the rates and terms you might get.
3. Submit an Application
After prequalifying, you must submit a formal loan application if you want to move forward with the process. You may be able to do this online or in person, depending on your lender.
The lender will ask for additional information to verify your identity, including your date of birth, Social Security number and income. You may also be asked to provide a copy of your driver's license, pay stubs, W-2s or bank statements.
Applying generates a hard credit inquiry, which may temporarily reduce your credit scores by a few points.
Learn more: Personal Loan Requirements to Know Before You Apply
4. Review and Accept the Loan
If the lender approves your application, you'll receive a loan offer. Review the offer carefully to confirm that the loan amount, rate and term meet your needs. If you want to accept the loan, you must sign the paperwork and wait to receive the loan proceeds. Funding timelines vary but generally range from same day to seven days.
If the lender rejects your application, it must tell you why. You can use that information to take steps that may improve your chance of qualifying if you reapply in the future.
What Credit Score Do I Need for a $4,000 Loan?
Because every lender sets its own credit criteria, credit score requirements vary by lender. However, you typically need scores of at least 580 to qualify, and those with scores over 700 tend to get the lowest rates and best terms. Getting prequalified can help you gauge the likelihood that your application will be approved and see your estimated interest rate and loan term.
Pros and Cons of a $4,000 Personal Loan
Understanding the benefits and drawbacks of personal loans can help you decide whether getting one is your best option.
Pros
-
Limited restrictions: You can use personal loan funds for almost anything you want.
-
Speed: Applying for a personal loan is typically fast and easy. Timelines for loan decisions generally range from a few minutes to five days.
-
Interest rates: Personal loan rates tend to be lower than annual percentage rates (APRs) on credit cards, especially if you have good credit.
-
Predictability: Because you're borrowing a lump sum at a fixed interest rate, your payment is the same every month throughout the life of the loan.
Learn more: What Can a Personal Loan Be Used For?
Cons
-
Credit check: Applying for a personal loan generates a hard inquiry, which can lower your credit scores by a few points, but the effect is generally temporary.
-
Fees: Some lenders charge origination, application and late payment fees, which can increase the total cost of the loan.
-
Credit requirements: Although you can get a personal loan with less-than-perfect credit, you need good credit to qualify for the best rates and most favorable loan terms.
-
Increased debt-to-income ratio: Taking out a personal loan will increase the amount of debt you have to repay, which increases your debt-to-income ratio. That, in turn, may reduce your chances of being approved for credit while you're paying off your loan.
Learn more: How Long Does It Take to Get a Personal Loan?
Alternatives to Personal Loans
If you need cash fast, taking out a personal loan isn't your only option. Here are a few others to consider.
- Credit card: If you have good credit, you may be able to qualify for a 0% introductory APR card. If you can pay off the balance in full before the end of the promotional period—typically between six and 21 months—you can avoid paying interest altogether.
- Borrow from friends or family: If you know someone who can help financially, consider asking them to lend you money. Be sure to have a formal agreement, so there are no misunderstandings, and make your payments on time to avoid damaging the relationship.
- Personal line of credit (PLOC): If you need cash to cover multiple expenses over an extended time period, a PLOC may be worth considering. A PLOC is more like a credit card than a personal loan but typically has lower interest rates than credit cards. Instead of borrowing a lump sum and repaying it in equal installments, you borrow against your line (up to the maximum) as needed and repay it with interest.
Frequently Asked Questions
The Bottom Line
Getting a personal loan is a relatively simple process, but before you apply, it's important to consider all your options and select the one that makes the most sense for you.
While personal loans may have lower interest rates than credit cards, that may not be true for someone with poor credit. If you can't qualify for a low rate, consider postponing your loan application, if possible, until you can improve your credit score.
If a personal loan is your best bet, comparing multiple offers can help you find the lowest rate and most favorable terms available for someone with your credit profile.
Need a personal loan?
Whether you're looking to eliminate debt or access cash fast, compare personal loan offers matched to your credit profile.
Start now for free
About the author
Jennifer Brozic
Jennifer Brozic is a freelance content marketing writer specializing in personal finance topics, including building credit, personal loans, auto loans, credit cards, mortgages, budgeting, insurance, retirement planning and more.
Read more from Jennifer