You don’t need to wait long to get the money you need – find out how you can get a quick short term loan.
If you’re in need of money immediately, whether it’s for emergency repairs, forgotten bills or any emergency, short term loans are an option for you to consider. Short term lenders can give you access to approved funds on the same business day, some within 15 minutes.
You can apply for a quick short term loan, also known as a payday loan, if you have bad credit, receive government benefits or are on a lower income, and you can use your loan for whatever purpose you need.
LendUp Payday Loans
Apply for a payday loan conveniently online and borrow between $100 and $250.
- Min. loan amount: $100
- Loan term: 7–30 days
- Total costs: Depends on your state, loan product, loan amount and the term of the loan.
- Must be 18+ (19+ in Alabama)
- No security deposit needed
- Confidential and secure
- Visit the site to see if available in your state
How do quick short term loans work?
A short term loan will give you access to the funds you need, and some lenders will be able to provide this service more quickly than others. They may be able to do this by processing online loans quickly, offering same-day turnaround for loans or giving you options for how you can receive your funds. For example, some lenders have debit cards that they can pre-load with your funds once you’re approved.
The maximum amount you can apply for depends on your state’s payday loan regulations. There are also restrictions on the annual percentage rate (APR), whether you can take out multiple payday loans or whether you can rollover a loan.
Most lenders can tell you if you’ve approved for a short term loan within minutes. Following the application you may have a choice of how to receive your funds.
If you apply online you will usually have the funds deposited into your checking account, although you may be able to pick up the cash in-store through a prepaid debit card or as a check.
A selection of loans you can apply for
Here are some loan providers that you can apply to. Note that the max loan amount is based on the lender’s max amount. The amount will vary based on your state of residence.
- If the provider quotes a different rate to the one above please let us know
A selection of lender matching services you can apply with
These lender matching services are not lenders, loan brokers or agents for any lender or loan broker. They also do not make credit decisions. They focus on trying to match you with a lender that might be able to provide you the funds you seek.
Note that the max loan amount is based on the matching services max amount, but it will vary based on your state of residence. If you proceed with one of these services, confirm that the lender is reputable by checking with your local government.
- If the provider quotes a different rate to the one above please let us know
“When will I receive my loan?”
If you apply with any of the lenders listed above, check the table below for when you can expect to receive your funds.
| Lender | Turnaround time |
|---|---|
| 100 Day Loans | Depends on the lender, usually one business day but can be same-day funding. |
| Achieve Lending | Depends on the lender, usually one business day but can be same-day funding. |
| Advance America | Online applications received prior to 8 p.m. ET are usually funded the next banking day. In-store loans can be funded within 10-15 minutes. |
| CashAdvance.com | Depends on the lender, usually one to two business days. |
| CashNetUSA | If you’re approved by 9 p.m. CT Mon-Thurs, you’ll generally receive your funds the next business day. If you’re approved between 9 p.m. CT Thursday and 7 p.m. CT Sunday, you’ll receive your funds on Monday unless it’s a bank holiday. |
| Cash Central | Loans approved before 7:45 p.m. ET (6:45 p.m. CT, 5:45 p.m. CT, 5:45 p.m. MT, 4:45 p.m. PT) Mon-Thurs are usually deposited the next business day. Applications submitted Friday, Saturday and Sunday before 7:45 p.m. ET will be funded the following banking day and applications submitted Sunday after 7:45 p.m. will be funded on Tuesday. |
| Check City | Online applications take one business day and in-store applications take around 15 minutes. If you apply online and are approved before 7 p.m. MT on weekdays or 8 p.m. on Saturdays, the approval process is completed on the same day. If you apply after these hours or on Sundays or holidays, your loan application will be processed the next business day and funds deposited into your account one day after that. |
| Check into Cash | Loan applications processed before 7 p.m. during business days are usually funded the next business day. If you apply online, you also have the option of picking up your approved funds in-store. |
| LendUp | If your loan is approved by 5 p.m. PT Monday-Friday (excluding holidays), you will generally receive your funds the next business day. Exact funding time depends on your bank. |
| LoanMart | One business day. |
| Net Credit | Your loan will be funded the next business day. If your application is approved between 4 p.m. CT Thursday and 4 p.m. CT Friday, you’ll receive your funds the following Monday. If your application is approved after 4 p.m. CT Friday, you’ll receive your funds the following Tuesday. |
| NetLoanUSA | Loan processing and transfer times vary between lenders. |
| Personal Money Store | Loan processing and transfer times vary between lenders, but you can receive your approved funds the next business day. |
| Speedy Cash | Online loans take one business day to be processed. If you visit a store you can pick up cash or have it loaded onto a prepaid debit card. |
| TrustedLoanNetwork | Loan processing and transfer times vary between lenders. |
| USPayDayCashFast.com | You can expect approved funds in your account by the next business day. |
What features do quick short term loans offer?
If you’re looking for a quick short term loan, here’s what you can expect:
- Multiple options for borrowing money. If payday loans are legal in your state, you’ll have numerous options from which to choose. Bear in mind that not all short term loan providers are equally quick in processing applications and disbursing funds. You have the choice of direct short term lenders and loan matching services.
- Quick processing of your loan. Some short term lenders use the latest in technology to verify your credentials online and give you an answer within minutes. If you apply online, the lender will require your bank account details so it can transfer your funds as soon as the following business day.
- Lower than normal fees. While state regulations tend to govern how much payday lenders can charge as fees, some lenders charge lower fees than others. You may also find lenders who charge lower fees and rates the more you borrow with them, so this may also be an option to consider.
There is no hard and fast rule that guarantees a successful application, but knowing what the application process entails can increase your chances of approval. Short term loan providers will verify your income to establish if you have the capacity to repay the loan, which they can do via pay slips and bank statements.
You will also have to go through an identity verification process, which some lenders carry out online. You may have to fax some documents over, although no fax short term loans are available.
The types of loans that are available
You have a few different options when you need money quickly, including:
- Short term loans. These are short-term loans that you have to repay by your next payday. The maximum you’re able to borrow depends on the state you’re applying from, as does the terms you are offered.
- Installment loans. With a quick installment loan you don’t have to repay the entire loan amount in one go. You get to make equal payments over a set term, which can extend up to one year or more.
- Auto title loans. If you have a car or a motorbike that you can use to provide security, you can consider getting an auto title loan. Your vehicle will works as collateral but you’ll have continued access to your vehicle during the loan term.
How much can you borrow?
Just how much you can borrow also depends on the lender you approach. This is because lenders are restricted by state laws as to how much they can charge, but some lenders may still have better rates than others.
In states like Alabama, Alaska, Colorado and Delaware you can borrow up to $500. In California, the maximum you can borrow limits to $300. Residents of Idaho can borrow up to $1,000, and if you’re a resident of New Mexico you can borrow up to $2,500. Some states, like Illinois and Nevada, let you borrow up to a percentage of your gross monthly income.
Things to consider before you apply
If you think you may face problems in paying the loan back on time, you should seriously reconsider applying. If you repay your loan late you will have to pay additional fees and it will affect your ability to get credit in the future.
It is important that you review any given loan’s terms and conditions before accepting a contract, as this gives you clear indication of how much you might have to pay in fees and charges. Here are some things to look for:
- Fees and charges. Make sure you check your loan contract before accepting the quick cash as there may be extra fees and charges you have missed. Once you accept you’ll be liable to pay all associated costs.
- Length of your loan. This will vary depending on what state you live in – ensure that the loan you apply for conforms with the laws of your local state.
- How long until you get your cash. You’ll generally get your cash within in the hour if applying in person. Compare how long each lender can get you the money before applying
Frequently asked questions
How much time does it take to apply for a short term loan online?
You can usually complete an online short term loan application in around 10 to 15 minutes as long as you have all the required information on hand.
What eligibility criteria do I have to meet?
You should meet the minimum age requirement, which is 18 years in most states. You should also be a permanent resident of the US and you should have a steady source of income.
Payday loans are not legal in my state – what other options do I have?
You can consider applying for an installment loan or an auto title loan. You can also consider getting a loan from a military aid society or an affinity group, and you can even ask your employer for a cash advance.
Are payday loans available in my state?
