 TITLE: How to Get a Small Loan CONTENT: What Is a Small Loan?\n---------------------\nNothing formally defines the amount of a small loan, but it's generally considered to be one that's $3,000 or less. Small loans tend to be personal loans used to cover emergencies, such as medical bills, fixing a vehicle, home repairs or covering necessary household expenses. In contrast, people may look for larger loans with a different type of purchase or purpose in mind, such as debt consolidation.\nBecause less money is on the line, it may be easier to qualify for and repay a small loan. You may, however, have fewer options and a harder time finding a small loan with favorable terms. This is because some financial institutions have decided it doesn't make financial sense for them to offer small loans—there's a similar amount of work required to process the loan request, but a lower return on their investment. END