Lenders set a number of different standards or rules when deciding whether to offer loans to the public. One of these standards is a minimum loan amount.

Some lenders decide not to offer small personal loans and instead start at $5,000 or more. So if you’re looking to borrow a small amount of money for an unexpected expense, you may need to do a little more research.

Here are three types of lenders who can offer small personal loans.

Online lenders

Online lenders are a common resource to consider if you need a small personal loan. Loan options vary, of course, but you might be able to find minimum loan amounts ranging from $1,000 to $2,000.

Borrowing from an online lender can often be a faster process than through a traditional bank or credit union. So if you need quick access to cash, this might be a good option for you.

You can also find bad credit loan options from online lenders if your credit is damaged. Just be aware that borrowing costs (interest and fees) tend to be higher in these situations than they would be if you had good credit.

Banks

Banks are another place where you may be able to get small personal loans when you need them. And if you’re looking to borrow less than $1,000, you may be able to find more options to suit your needs than with online lenders. Before researching traditional banks, first check with your current personal bank to see what they offer.

Whether you go through your current bank or through a new one, note that the application process generally takes longer than that of online lenders. Some online lenders offer financing in one to two business days.

credit unions

Credit unions also offer small personal loans as low as $250. However, with credit unions, there is a catch: most require membership and generally only offer memberships to people from certain communities. This means your options for credit unions are slim compared to traditional banks and online lenders. But if you need a loan of just a few hundred dollars and you have a trusted credit union in your community, it may be worth considering.

Note: Although most credit unions require you to live within their community, some national credit unions allow you to become a member with small donations to certain organizations or through other easy to meet criteria.