COSTA MESA, Calif., Jan. 02, 2026 (GLOBE NEWSWIRE) -- A comprehensive new study released today by Swipe Solutions, a financial technology company specializing in loan matching services, reveals that 93% of Americans seeking emergency loans are rejected by traditional lenders, creating a financial crisis that affects an estimated 45 million households annually.
The study, titled "Emergency Loan Approval Crisis: Why 93% of Emergency Borrowers Get Rejected," analyzed lending data from over 50,000 loan applications and found that borrowers with credit scores below 670—representing approximately 35% of American adults—face rejection rates exceeding 85% when seeking emergency funding.
Key Findings Include:
• 93% overall rejection rate for emergency loan applications
• Borrowers with credit scores under 580 face 97% rejection rates
• Average time to receive emergency funds: 14 business days (when approved)
• 62% of rejected applicants turn to payday lenders charging 400%+ APR
• Mississippi, Louisiana, and Alabama have the highest state rejection rates
"The data reveals a troubling reality: millions of hardworking Americans are one emergency away from financial catastrophe," said Tyler Kramer, CEO of Swipe Solutions. "When traditional banks turn away 93% of emergency loan seekers, those families don't stop needing help—they turn to predatory lenders who trap them in cycles of debt."
The study found that emergency loan needs are most commonly triggered by medical expenses (34%), car repairs (28%), and unexpected job loss (19%). Despite having steady income, many applicants are rejected due to credit history issues stemming from previous financial hardships—creating a cycle where past struggles prevent future recovery.
"We built Swipe Solutions specifically to address this gap," added Travis Vayssie, Founder of Swipe Solutions. "Our platform connects borrowers with lenders who specialize in their specific situation, increasing approval odds while ensuring they understand all terms before committing."
Methodology
The study analyzed anonymized data from 50,000+ loan applications submitted through the Swipe Solutions platform between January 2025 and November 2025, combined with publicly available CFPB complaint data and Federal Reserve consumer credit statistics. Full methodology and data tables are available at swipesolutions.com/research.
About Swipe Solutions
Founded in 2018, Swipe Solutions is a financial technology company dedicated to helping Americans find fair, transparent loan options regardless of their credit history. Through its AI-powered matching platform, Swipe Solutions has helped over 50,000 borrowers connect with appropriate lenders while avoiding predatory lending practices. The company is headquartered in Costa Mesa, California. For more information, visit www.swipesolutions.com.
Media Contact:
Tyler Kramer
CEO, Swipe Solutions
Email: tylerk@swipesolutions.com
Phone: (714) 325-4727
