Get a $1,500 loan

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Find quick funding cover a surprise expense.

If you need $1,500 fast and have bad credit, an installment loan might help. While you might be able to get a loan the same day, watch out: It can be expensive.

Our top pick: OppLoans Installment Loans

  • Min. Loan Amount: $500
  • Max. Loan Amount: $5,000
  • Turnaround Time: 1 business day
  • Loan Term: 9 to 36 months
  • Requirements: Direct deposit, meet minimum income requirements
  • Easy online application
  • Quick approval
  • Fast funding
  • Long repayment terms

Our top pick: OppLoans Installment Loans

Comes with the option to change your due date so you won’t fall behind on repayments.

  • Min. Loan Amount: $500
  • Max. Loan Amount: $5,000
  • Turnaround Time: 1 business day
  • Loan Term: 9 to 36 months
  • Requirements: Direct deposit, meet minimum income requirements
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Compare short-term loan providers

The table below lists a range of short term lenders who offer $1,500 loans.

Updated November 14th, 2019
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
$5,000
1 business day
Direct deposit, meet minimum income requirements
Comes with the option to change your due date so you won’t fall behind on repayments.
$2,600
1 to 2 business days
Active checking account, regular source of income, email address
Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
$100,000
Varies by lender
Credit score of 500+, legal US resident and ages 18+.
Quickly compare multiple online lenders with competitive rates depending on your credit.
$50,000
Same business day to 1 business days
Must be employed and receive regular income, earn at least $800 a month, have a checking account and be an 18+ years old legal US citizen.
Get a flexible installment loan with fast funding through one easy online application form.
$2,500
As soon as next business day
Must be at least 18 years old and have a verifiable source of income with direct deposit into your checking account.
Get an installment loan from an online tribal lender. Perks for returning borrowers.
$15,000
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
$10,000
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.
Varies by state
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.

Compare up to 4 providers

How much will I pay each month?

How much you pay each month depends on two factors: Your APR and your loan term. Traditional personal loans cap APRs at 36%, while alternative short-term loans typically push 100% APRs and come with terms from 3 to 18 months.

Use the monthly payment calculator to find out how much you’ll pay with different rates and terms.

$1,500 loan calculator

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Budgeting for monthly payments

It’s important that you have a fair idea of what your repayments will look like before you apply for your $1,500 loan. Once you know how much you have to repay, take into account your existing salary and expenses and then determine if you can afford to make the repayments.

Am I eligible for a $1,500 loan?

While depends on the lender, but you generally qualify for a $1,500 loan if you meet the following criteria:

  • Steady income
  • Checking or savings account
  • Over 18
  • Established credit history

How do I get a $1,500 loan?

  1. Compare. Get started with the table above to find a lender that offers $1,500 loans that you can qualify for at a competitive rate.
  2. Apply. You can apply online or in-store if your lender has a branch near you. Click the Go to Site button to get started if you find a lender you like on our comparison table.
  3. Review your terms. Read your loan documents carefully before you sign on to anything. If you’re unsure what something means, ask.
  4. Get your $1,500. If you apply online, you can often get your money in your bank account the next day. In-store, you can get your money in a few minutes.

How to find a legit lender

Not all lenders offer loans as low as $1,500 you might come across a predatory company in your search. Ask yourself the following questions to make sure you’re working with a lender that’s legit.

  • What’s the APR? APR includes both interest and fees and is the best way to compare the total cost of the loan. If a lender doesn’t display rates before apply, you might want to look elsewhere.
  • What’s the term? The longer the term, the lower your monthly payments but the more it’ll cost in the long run.
  • Am I eligible? Some lenders might require you to have a job, have restrictions on borrowers who’ve filed for bankruptcy or only work in a few states. Those with no requirements might not offer a good deal.
  • How much can I actually borrow? Stay away from lenders that pressure you to borrow more than the $1,500 you need.
  • How’s its reputation? Check customer reviews to learn about past customer’s experiences and sites like the Consumer Financial Protection Bureau to make sure it isn’t facing any lawsuits.

How do you know if a lender is legit?

Watch out for guaranteed approval

No legitimate lender will guarantee that you’ll get approved before looking at an application. Most will at least check your income at least to make sure you can afford repayments before making an offer. Taking out a loan that you can’t afford sets you up to miss repayments and get caught in a cycle of debt.

How do I increase my chances of approval?

While there is no definite way to make sure a lender approves your application, it could help your application to keep the following in mind:

  • Make sure you qualify. You won’t get approved if you don’t meet the eligibility requirements.
  • Check your credit report. If you have the time, request a copy of your credit report to check for mistakes — these could be hurting your credit score.
  • Limit your applications. Every time you apply for a loan, it counts as an inquiry on your credit report, which lowers your score.

Benefits and drawbacks of $1,500 short-term loans

Pros

  • Apply online. You can apply and get your funds as soon as the next day without leaving the house.
  • Bad credit is OK. Loans of $1,500 are typically easier to qualify for than higher amounts, even with credit below 580.
  • Most regular income accepted. You don’t necessarily need to be employed to borrow $1,500, as long as you have another source of income.

Cons

  • Higher rates. It’s common for short-term loans like installment loans to come with triple-digit APRs.
  • Short loan terms. Most short-term loans require that you repay the entire amount in a few months, meaning high repayments.
  • Predatory lenders. Some lenders can be disreputable and set unfair terms, so it’s important to do your research and apply for a loan with a reputable lender.

Looking a different loan amount or term?

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

Are payday loans available in my state?

Frequently asked questions about $1,500 loans

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4 Responses

  1. Default Gravatar
    BobbyNovember 7, 2018

    If I have no credit history or credit card who could I get a loan with?

    • Default Gravatar
      joelmarceloNovember 7, 2018

      Hi Bobby,

      Thanks for leaving a question on finder.

      Yes, but it could take work to find a lender willing to work with you. You might also need to adjust your expectations if you’re looking for, say, a large bank loan of $100,000.

      With so many lending upstarts competing for your business, an online lender might be a good place to start, especially for smaller loans. Many of these lenders use new technologies and alternative sources of data to determine your creditworthiness. They believe a broader look at your income and financial habits can better predict your creditworthiness than merely relying on your credit score.

      However, more traditional lenders — like banks and credit unions — are typically not willing to take on the risk of a borrower without a credit history. That’s because your credit report reveals to your lender how you’ve handled debt in the past. With no credit history, you’re considered a wild card. These lenders also consider your income, employment status and debt-to-income ratio when reviewing your application.

      Despite lacking a comprehensive credit history, you’ll find several options for getting your hands on a loan if you click here.

      Please send me a message if you need anything else. :)

      Cheers,
      Joel

  2. Default Gravatar
    JulieJuly 5, 2017

    I get paid next month per capita payment I received this for the last 25 years and the rest of my life I need a direct lender who can loan me 1000.00 + but I don’t have a checking or savings account I have to move out by 14th can you please help?

    • Avatarfinder Customer Care
      MayJuly 6, 2017Staff

      Hi Julie,

      Thanks for reaching out.

      If you do not have a bank account, you may like to speak to a lender featured on this page to discuss your loan options and eligibility. Be sure to read the criteria before applying for a loan.

      Cheers,
      May

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