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1-week payday loans

Though convenient, repayments can be difficult to afford with such a short term.

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Editor's choice: OppLoans Installment Loans

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  • Long repayment terms
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A payday loan that you pay back in one week can be convenient if you’re in a financial bind and don’t have the credit to qualify for a traditional loan. But when you only have seven days to come up with the money, it can be hard to repay your loan and its high fees.

Where can I get a one-week payday loan?

If a one-week loan term is legal in your state, you can find lenders both online and at a physical storefront. However, most states require a minimum loan term of two weeks. Double-check that a one-week payday loan is even legal where you live before you start comparing lenders. If it’s not, you’ll want to consider payday loans with a longer term — or look into your short-term loan alternatives.

Compare payday loan providers

Data indicated here is updated regularly
Name Product Filter Values Max. Loan Amount Loan Term Turnaround time
OppLoans Installment Loans
$5,000
9 to 24 months
1 business day
Comes with the option to change your due date so you won’t fall behind on repayments.
Check Into Cash Payday Loan
$1,000
Varies by state
1 to 2 business days
Plus, get access to check cashing, cell phone top ups, bill pay and more at one of its many storefronts.
Fast5kLoans Short-term Loans Connection Service
$35,000
6 months to 6 years
As soon as the next business day
Get connected with multiple lenders you might qualify with — even if you have bad credit.
LendYou Short-term Loans
$15,000
Varies
Same business day to 1 business days
Get offers from potential lenders in minutes by filling out just one online form.
Possible Finance Mobile Installment Loans
$500
Up to 2 months
As fast as 1 business day
Borrow up to $500 with just a few swipes — but only for residents of 5 states.
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Compare up to 4 providers

How do I apply for a one-week payday loan?

While the exact application process will vary by lender, you can generally expect to go through the following steps:

  1. Compare lenders and confirm that your top picks offer a one-week term.
  2. Visit the lender’s website to start the application.
  3. Provide information about yourself, your employer and your finances.
  4. Submit your application and wait for a response.

If approved, it may take online lenders anywhere from one to two business days to transfer your loan funds to your bank account. If you want to speed up the process, consider applying at a local storefront — you can often leave the store with cash in hand.

What do I need to apply?

When you apply for a one-week payday loan, expect to provide the following:

  • Proof of employment
  • Proof of income
  • Proof of residence
  • Social Security number
  • Bank account information
  • Government-issued ID

How do I repay a one-week loan?

Depending on the lender, you may be able to repay your one-week payday loan through direct debit from your bank account or a postdated check.

  • Direct debit. Most lenders will have you sign an ACH authorization that allows them to transfer funds directly into your account — and debit your repayment when it’s due.
  • Postdated check. Some in-store lenders might ask you to leave a check that will be cashed on your loan’s due date.

Before signing your loan documents and agreeing to either repayment method, ensure you’ll have enough money in your account to repay your loan when it’s due. Otherwise, you risk additional fees and an overdraft charge from your bank.

What are the risks of borrowing a one-week payday loan?

Although a payday loan with a seven-day term can be convenient, it comes with quite a few risks:

  • High cost. While most states have regulations on rates and fees, APRs can still reach over 300% — or even higher with such a short term.
  • Multiple fees. If you aren’t able to repay your loan in seven days, you’ll either need to rollover your loan or pay late fees. Either way, this can quickly increase the already high cost of your loan.
  • Risk hurting your credit. While lenders typically don’t report on-time repayments to the three major credit bureaus, they usually report missed repayments and defaults.
  • Disreputable lenders. Watch out for predatory lenders that may not be registered in your state or legally allowed to offer such a short term. Look into the payday loan regulations in your state and check your lender’s legitimacy before you apply.

Payday loan regulations by state

More short-term loan options

Fixed Term

Fixed Amount

7 days Picture not describedcheckmark $1,000
30 days Picture not describedcheckmark $1,500
2 months Picture not describedcheckmark $2,000
3 months Picture not describedcheckmark $3,000
5 months Picture not describedcheckmark $4,000
6 months Picture not describedcheckmark $5,000
12 months Picture not describedcheckmark $10,000
24 months Picture not describedcheckmark Compare more

Bottom line

A one-week payday loan may be helpful in an emergency, but such a short term can leave you struggling to repay what you borrow. You can learn more about how it all works with our guide to payday loans.

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