8 best loans to get you to payday in 2022

Pay advance apps, bad credit personal loans and installment loans can get you money fast when you have bad credit — without high fees and short terms of your average payday loan. These lenders can help you avoid a cycle of debt and even strengthen your personal finances.

To select the best providers to get you to your next paycheck, I compared factors like costs, funding time, payment amounts and customer reviews. I also focused on providers that help you build your credit and savings after you take out the loan.

They aren’t the only options out there and might not be the best for everyone. Also consider other payday loan alternatives before you apply.

Best for instant funding: B9

B9 pay advance app

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B9 is a banking app — and it offers larger advances than most other apps on the market. But to qualify, you'll need to set up a B9 account and receive at least $500 a month into it. So while the $4.99 monthly membership fee isn't the highest we've seen, the extra step to get a loan may mean B9 isn't the right choice. However, if you're looking to change up your banking and want instant access to the money you've already earned, B9 is a solid option.

• Available in all states

• Pros and cons

  Pros

  • Instant funding on 100% of paycheck
  • Low monthly income requirement of $500
  • Nonresidents may qualify

  Cons

  • Monthly membership fee of $4.99
  • Must receive direct deposits into B9 account

• More details

  Loan amount	Up to 100% of your paycheck
  Interest rate type	Fixed
  Loan Term	Not Stated
  Turnaround time	Instant

Pros

• Instant funding on 100% of paycheck
• Low monthly income requirement of $500
• Nonresidents may qualify

Cons

• Monthly membership fee of $4.99
• Must receive direct deposits into B9 account

• More details

  Loan amount	Up to 100% of your paycheck
  Interest rate type	Fixed
  Loan Term	Not Stated
  Turnaround time	Instant

Loan amount	Up to 100% of your paycheck
Turnaround time	Instant

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Best for avoiding overdrafts: Brigit

Brigit

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Brigit is one of the top pay advance apps out there. Unlike traditional payday loans, pay advance apps like Brigit rely on the money you've already earned and simply give you an advance on your paycheck. This means they aren't loans. And Brigit's best feature is its overdraft protection. If you're close to overdrafting your bank account, Brigit will automatically send a $100 loan your way. There are other loan and financial tools available through the app as well, but it comes with a steep monthly membership fee of $9.99. So unless you need to use Brigit frequently, it may not be right for you.

• Available in all states

• Pros and cons

  Pros

  • No interest or late fees
  • Due date extensions available
  • Automatic overdraft protection

  Cons

• More details

  Loan amount	Up to $250
  Interest rate type	Fixed
  Loan Term	Varies
  Turnaround time	1 to 3 days or same-day in some circumstances

Pros

• No interest or late fees
• Due date extensions available
• Automatic overdraft protection

Cons

• More details

  Loan amount	Up to $250
  Interest rate type	Fixed
  Loan Term	Varies
  Turnaround time	1 to 3 days or same-day in some circumstances

Loan amount	Up to $250
Turnaround time	1 to 3 days or same-day in some circumstances

Go to site Read review

Best for building savings: SeedFi

SeedFi Borrow & Grow Plan

Finder rating 4.4 / 5 ★★★★★

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SeedFi works differently from most lenders. Rather than lend you the entire loan amount upfront, it gives you a portion and then puts the rest away into a savings account. By doing this, you have a chance to improve your credit and grow a nest egg. Unfortunately, that does mean you won't have access to the entire amount you might need when you apply. And although SeedFi has relatively competitive interest rates, it's still an expensive option — especially if you have a short loan term of just eight months.

• Not available in: Colorado, Connecticut, Hawaii, Idaho, Iowa, Maine, Massachusetts, Minnesota, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Rhode Island, South Dakota, Vermont, Wyoming

• Pros and cons

  Pros

  • On-time payments improve credit
  • APR capped at 29.99%
  • No origination fee

  Cons

  • High minimum loan of $1,200
  • Annual income of $10,000 required
  • Only receive a portion of loan funds upfront

• More details

  Loan amount	$1,200 - $7,000
  Interest rate type	Fixed
  Loan Term	8 to 44 months
  Turnaround time	1 to 2 business days

Pros

• On-time payments improve credit
• APR capped at 29.99%
• No origination fee

Cons

• High minimum loan of $1,200
• Annual income of $10,000 required
• Only receive a portion of loan funds upfront

• More details

  Loan amount	$1,200 - $7,000
  Interest rate type	Fixed
  Loan Term	8 to 44 months
  Turnaround time	1 to 2 business days

Loan amount	$1,200 - $7,000
Turnaround time	1 to 2 business days

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Best for limited fees: SoLo Funds

SoLo Funds payday loan alternative

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Solo Funds is a peer-to-peer (P2P) lending platform that offers microloans — loans between $50 to $1,000. This means it has a relatively short payback period of just 15 days. But it also means that you won't be on the hook for high interest rates like a payday loan. Best of all, tipping is optional. Borrowers are encouraged to leave up to a 10% tip, but it's not a requirement to borrow. Just be sure to pay your loan back on time. Solo Funds has strict late fees and nonpayment fees that can add signficant cost to your loan.

• Pros and cons

  Pros

  • No interest
  • Optional tips up to 10%
  • Same-day turnaround available

  Cons

  • Steep late fees and missing payment fees
  • Loan term capped at 15 days

• More details

  Loan amount	$50 - $1,000
  Interest rate type	Fixed
  Loan Term	Up to 15 days
  Turnaround time	As soon as the same day

Pros

• No interest
• Optional tips up to 10%
• Same-day turnaround available

Cons

• Steep late fees and missing payment fees
• Loan term capped at 15 days

• More details

  Loan amount	$50 - $1,000
  Interest rate type	Fixed
  Loan Term	Up to 15 days
  Turnaround time	As soon as the same day

Loan amount	$50 - $1,000
Turnaround time	As soon as the same day

Read Review

Best for bad credit personal loans: OneMain Financial

OneMain Financial personal loans

Finder rating 3.4 / 5 ★★★★★

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OneMain Financial is one of the more expensive personal loan options, but it does accept borrowers with bad credit. And you can get your loan the same day you apply — a big benefit compared to most other lenders. Just watch out for the additional fees. OneMain has a high origination fee of up to 10%, and its late fees are steep, too. Fortunately, there's a seven-day satisfaction guarantee that allows you to cancel your loan if it isn't the right fit for you.

• Not available in: Alaska, Arkansas, California, Connecticut, Massachusetts, Michigan, Rhode Island, Vermont

• Pros and cons

  Pros

  • No cost for same-day turnaround
  • Secured and unsecured loans available
  • Generous loan cancelation policy

  Cons

  • Multiple expensive fees
  • Full coverage property insurance required for collateral

• More details

  Loan Amount	$1,500 to $20,000
  APR	18% to 35.99%
  Interest Rate Type	Fixed
  Min. Credit Score	Varies
  Turnaround Time	As soon as the same day
  Maximum Loan Term	5 years
  Minimum Loan Term	2 years

Pros

• No cost for same-day turnaround
• Secured and unsecured loans available
• Generous loan cancelation policy

Cons

• Multiple expensive fees
• Full coverage property insurance required for collateral

• More details

  Loan Amount	$1,500 to $20,000
  APR	18% to 35.99%
  Interest Rate Type	Fixed
  Min. Credit Score	Varies
  Turnaround Time	As soon as the same day
  Maximum Loan Term	5 years
  Minimum Loan Term	2 years

Disclaimer

<sub>* OneMain Disclosures:
Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.

Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $400. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes.

Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000. Virginia: $2,600.

Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. West Virginia: $14,000. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.</sub>

Min. Credit Score	Varies
APR	18% to 35.99%
Loan Amount	$1,500 to $20,000

Read Review

Best for comparing lenders: Lendvious

Lendvious personal loans

Finder rating 4.55 / 5 ★★★★★

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Lendvious is one of the few connection services that will work with borrowers who have a credit score as low as 550. While you won't get the lowest interest rates, you may still be approved for a personal loan with a maximum APR of 35.99% — significantly less than traditional payday loans. You will be limited to the lenders in Lendvious's network. But overall, it's a good choice if you're looking for a personal loan and aren't sure where to start.

• Not available in: Hawaii

• Pros and cons

  Pros

  • Coapplicants accepted
  • Minimal eligibility criteria to get started

  Cons

  • No customer service phone number
  • Potential marketing calls and emails

• More details

  Loan Amount	$1,000 to $100,000
  APR	5.99% to 35.99%
  Interest Rate Type	Fixed
  Min. Credit Score	550+
  Turnaround Time	1 to 2 business days
  Maximum Loan Term	5 years
  Minimum Loan Term	2 years

Pros

• Coapplicants accepted
• Minimal eligibility criteria to get started

Cons

• No customer service phone number
• Potential marketing calls and emails

• More details

  Loan Amount	$1,000 to $100,000
  APR	5.99% to 35.99%
  Interest Rate Type	Fixed
  Min. Credit Score	550+
  Turnaround Time	1 to 2 business days
  Maximum Loan Term	5 years
  Minimum Loan Term	2 years

Min. Credit Score	550+
APR	5.99% to 35.99%
Loan Amount	$1,000 to $100,000

Read Review

Best installment loans: Possible Finance

Possible Finance Mobile Installment Loans

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Possible Finance offers installment loans. These are similar to payday loans, but they typically have lower interest rates and allow you to pay back your loan over a few months rather than a few weeks. And Possible Finance is one of the better options. It can be expensive with interest rates up to 122% — much higher than the 36% cap for personal loans — but it offers same-day funding. Plus you may be able to improve your credit score with on-time payments.

• Only available in: California, Florida, Louisiana, Texas, Washington

• Pros and cons

  Pros

  • On-time payments improve credit
  • Quality customer service
  • Same-day funding available with Visa debit cards

  Cons

  • Limited to residents of 18 states
  • APR between 91% to 122%

• More details

  Loan amount	Up to $500
  Interest rate type	Fixed
  Loan Term	Up to 2 months
  Turnaround time	As fast as 1 business day

Pros

• On-time payments improve credit
• Quality customer service
• Same-day funding available with Visa debit cards

Cons

• Limited to residents of 18 states
• APR between 91% to 122%

• More details

  Loan amount	Up to $500
  Interest rate type	Fixed
  Loan Term	Up to 2 months
  Turnaround time	As fast as 1 business day

Loan amount	Up to $500
Turnaround time	As fast as 1 business day

Go to site Read review

Best for loans over $1,000: OppLoans

OppLoans Installment Loans

Finder rating 4.4 / 5 ★★★★★

Go to site Read review

OppLoans reports payments to the three major credit bureaus so you can build your credit score. However, its installment loans are expensive. In most states, APR can be up to 160%. This is lower than most payday loans, but it can still trap you in a cycle of debt if you aren't careful. Since there are no prepayment penalties, you can pay your loan off early and save on some fees.

• Not available in: Colorado, Connecticut, Georgia, Illinois, Iowa, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, South Dakota, Vermont, West Virginia

• Pros and cons

  Pros

  • On-time payments improve credit
  • Loans up to $4,000
  • Loan terms up to 18 months

  Cons

  • APR up to 160%
  • Strict income requirements

• More details

  Loan amount	$500 - $4,000
  Interest rate type	Fixed
  Loan Term	6 to 18 months
  Turnaround time	1 business day

Pros

• On-time payments improve credit
• Loans up to $4,000
• Loan terms up to 18 months

Cons

• APR up to 160%
• Strict income requirements

• More details

  Loan amount	$500 - $4,000
  Interest rate type	Fixed
  Loan Term	6 to 18 months
  Turnaround time	1 business day

Loan amount	$500 - $4,000
Turnaround time	1 business day
Online application	Yes

Go to site Read review

Consider one of these payday loan alternatives first

There are a variety of alternatives to payday loans that you should use before borrowing, including:

• Bad credit personal loans to avoid high interest rates.
• Credit counseling to help rebuild your credit and potentially decrease current debts.
• Get payday alternative loans (PALs) through a federal credit union with an APR under 18%.
• Credit card cash advances for lower fees and quick turnaround.
• Debt relief if you’re struggling to pay down debt and need help negotiating with your creditors.

Recap: Best payday loans

These are some of the best providers on the market if you need quick or same-day funding. Consider them and our list of alternatives first, then learn more about payday loans so you can make an informed decision.

1. B9: Best for instant funding
2. Brigit: Best for avoiding overdrafts
3. SeedFi: Best for building savings
4. SoLo Funds: Best for limited fees
5. OneMain Financial: Best for bad credit personal loans
6. Lendvious: Best for comparing lenders
7. Possible Finance: Best installment loans
8. OppLoans: Best for loans over $1,000

Frequently asked questions

We understand that you may be cautious when applying for short-term loans. Here are some of the frequent questions our users have asked.

What is a payday loan?

Payday loans are short-term forms of financing that are typically available in amounts ranging from $50 to $500, depending on your state of residence. And they’re expensive — most come with high fees that translate to APRs in the triple digits.

LEARN MORE: How payday loans work

Can I qualify for a payday loan?

To qualify for a payday loan, you typically need to meet the following criteria at a minimum:

• Steady job or regular income
• US citizen or permanent resident
• At least 18 years old
• Live in eligible state

LEARN MORE: Find out if payday loans are legal in your state

How long does it take to apply for a payday loan?

Applying for a short-term loan should take around five to 10 minutes, provided you have all the information needed to complete the application close at hand.

LEARN MORE: Step-by-step guide to applying for a payday loan

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