Editor's choice: OppLoans Installment Loans
- Easy online application
- Quick approval
- Fast funding
- Long repayment terms
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
There are two ways to get a short-term loan: online and in-store. While your experience will be similar, they do differ in a few key aspects.
Online lenders differ from in-store lenders in a few key respects.
When you visit a payday loan store location, you can interact with a lender and ask questions or clarify any element of the loan’s terms and conditions. This could be helpful if you don’t know how to interpret the information. Some lenders can even give you your cash that same day.
An online loan could be an easier way to quickly get the cash you need to catch up on expenses. But you won’t have the in-store one-on-one to knead out any inquiries. Instead, you’ll want to be sure that the lender’s site clearly explains your responsibilities and that there’s a helpline if you don’t understand something.
A key factor to consider before applying online is whether the company you’re borrowing from is a direct lender or a broker. With a direct lender, you apply to and receive funding from one company directly, often with the ability to speak to a representative if you have questions.
With an online lending broker, you apply to a company that then uses your information to help you shop around for a lender willing to extend a loan that satisfies your requirements. Lending brokers are useful because they can sometimes match you with lenders you may not reach out to otherwise. But make sure to read the fine print: Illegitimate brokers could sell your information to lending companies long after you’ve replied.
When you apply with an online lender, confirm that the lender is licensed to do business in your state. And keep in mind that laws regarding payday lending vary from state to state. For example, in Georgia short-term loans are considered a violation of racketeering laws and prohibited.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Loan scammers are known to set up websites that offer short-term loans with quick and easy approval, low interest rates and a guaranteed right to cancel. These sites can make a loan sound like your best option by far.
Even if the loan and website appear legitimate, it’s essential to research the company you’re looking to apply with.
Here are a few warning signs that should raise your suspicions about an online lender:
In-store short-term loans also have benefits over storefront lenders.
When looking for a short-term loan, it’s not enough to look for a low monthly payment plan or the cheapest interest rate. Before signing on the dotted line, here are a few things to review:
Yes, you can take out a short-term loan without having a bank account. You’ll likely have to pick up the cash at a store location.
A short-term loan can be helpful when you need money in an emergency. And both online and in-store loans are easily accessible, assuming you meet the requirements and your paperwork is in order. But be sure to do your research and compare your short-term loan options to ensure the legitimacy of any lender before taking on a loan.
Binance and Coinbase are two titans of cryptocurrency – let’s see how the two stack up and find out which suits your needs.
Check out our guide on the differences between mortgage brokers and bank loan officers. See which one will suit your needs.
A 101 guide covering the types of mortgage loans every homebuyer should know.
From making a business plan and getting insurance to marketing and setting your prices — here’s how to start your own cleaning business.
Lenme connects borrowers to investors through its simple app.
Learn which short- and long-term add-ons are free and why others might be worth the extra cost.
Our top picks for cards across 7 student categories, including international students, first-time cardholders and cashback.
A standard connection service that works with lenders that offer large loans.
A lender who primarily offers loans to underserved small business owners.
Good if you want information on state regulations — but not transparent about other details.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.