Find the Cheapest $20,000 Loans in July 2025

Apply for a $20,000 Loan

If you're looking to fund a larger purchase, like a home renovation or paying for tuition, a $20,000 can be a great way to do this. But keep in mind that if you want to take out a large loan like this, you should have a plan in place to effectively use the money, and be able to comfortably pay the monthly installments.

Simultaneously loan applications can affect your credit score, which is why it's a good idea to know what you may qualify for with different lenders.

This is why Financer is an excellent option if you want to instantly compare lenders in the US that offer loans of $20,000 or more, without hurting your credit.

Our Loan Comparison Tool

Financer's online loan comparison tool has helped thousands of people find the cheapest loans available for their situations by providing a network of strong, familiar, and trusted direct lenders.

Use it to see what more than 200 lenders have to offer in terms of $20,000 loans. Remember that the percentage rate and the term of the loan will affect the cost of your loan overall.

A loan calculator will also help you understand exactly how much you will pay and the duration of repayment you can expect and work with.

Bad Credit Loans for $20,000

Obtaining personal loans with bad credit can be a cause of concern for a lot of people who are in this type of situation. Furthermore obtaining a bad credit loan with guaranteed approval is even more concerning.

While generally speaking it is highly unlikely you’ll find a lender that will grant you instant approval on a $20,000 loan if you fall into this category of suboptimal credit, it is still actually possible to obtain a loan for said amount.

While larger companies like Wells Fargo, Discovery, QuickenLoans, and more are generally known to favor borrowers with credit scores of 600 points or better, you’re very likely to find highly respected online lenders willing to make approvals of loans as well.

The benefit of online loans too is, while loans aren’t necessarily always instant, the process can be expedited. Some companies will get back to you within hours, or a few short business days.

Our online loan comparison tool at the top of our page can help you instantly connect with verified lenders willing to help you.

As we’ve mentioned, however, like with any other financial agreement, you need to be vigilant of the terms of service.

When you’re borrowing a large amount with a lower credit score, your personal loan tends to have a higher APR.

So it’s suggested you understand what lenders financial calculator reveals to you, vis a vis, you understand the interest to be paid over the length of the loan should you make only minimum repayments.