woman applying payday loan

Things to be aware of with “same day” short term loans

Money that can be in your account today? Find out if it’s too good to be true.

It’s not uncommon for people to need money for unexpected bills or emergencies, but promises of getting money in a rush can lead to scams.

Same day payday loans don’t exist. If you apply online, the soonest you can get your money is the next business day.

LendUp Payday Loans

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

    Do same day short term loans exist?

    The short answer is no, but you may be able to expedite the process and get your approved funds quickly if you apply in-store. However, if you apply online, you must wait until the next business day to receive your loan.

    You will have to qualify for the loan in order to apply, and you should remember that state laws can have a bearing on how much you can borrow.

    What’s the difference between in-store and online loans?

    Compare quick short term loans

    A selection of payday loans you can apply for

    Check the websites of any providers you’re interested in to confirm they operate in your state.

    Rates last updated August 18th, 2017
    Your filter criteria do not match any product
    Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time
    LendUp Payday Loans
    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.
    $250
    7–30 days
    Generally receive the money the next business day
    Check into Cash Payday Loan
    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
    $1,000
    Varies by state
    1–2 business days
    CashNetUSA Loan
    Apply for short term loans, installment loans or lines of credit in 30 states typically with a day’s turnaround.
    Varies by state
    Varies by state
    1 business day
    ACE Cash Express Payday Loans
    Quick short term, installment and title loans come with no prepayment penalty and a 72-hour satisfaction guarantee.
    Varies by state
    Varies by state
    Generally receive the money the next business day
    Check City Payday Loan
    Apply for a fast, secure and confidential payday loan — even with less-than-perfect credit.
    Depends on state of residency
    Varies by state
    Next day

    Compare up to 4 providers

    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, and they don’t make credit decisions. Instead, they focus on matching you with a lender who might be able to provide you the funds you seek. Note that the maximum loan amount is based on the matching service’s maximum and will vary based on your state. If you proceed with one of these services, confirm that the lender is reputable by checking with your local government.

    Rates last updated August 18th, 2017
    Your filter criteria do not match any product
    Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time
    Bad Credit Loans Personal Loans
    With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
    $5,000
    3 to 60 months
    Varies based on lender
    Slam Dunk Loans
    Get approved for a cash loan today with this lender matching service offering short term funding. Availability depends on your state of residence.
    $2,500
    Varies by lender
    As soon as next business day
    TriangleCash Payday Loans
    If you have bad credit or no credit history, apply to be matched with a network of lenders for funding at rates that vary by state.
    $1,000
    Varies based on lender
    As soon as next business day
    SWIFT Payday Loan
    Access multiple lenders with a 5-minute application for a cash advance on your paycheck.
    $1,000
    Varies by lender
    Next business day
    iCashLoans.com Short Term Loans
    $1,000
    Varies by lender
    Varies by lender
    CashAdvance.com Payday Loans
    Whether for emergencies or unexpected expenses, this broker may be able to match you among its nationwide network of lenders.
    $1,000
    Up to 12 months
    1–2 days

    Compare up to 4 providers

    How to ensure a short term loan will benefit you

    An easy way to establish which quick short term loan will work best for you is to compare some features these loans come with. Here’s what you should know:

    • Know what fees you’ll be paying. Most short term loans have fees based on every $100 you borrow and is counted when considering the APR. These fees vary from state to state and from lender to lender.
    • Make sure you can repay the full amount within the term of the loan. If you can’t make the payment in full on the due date, it can lead to having to refinance or rollover the remaining amount. Doing so will incur extra charges and may damage your credit.
    • Variable loan amount. State laws cap the maximum amount you can borrow, and lenders will limit the amount of money you can take out based on your income and financial situation.
    • Ensure the application process is legal. For a one-hour payday loan, there’s a good chance you’ll have to apply in-store. In most cases when you apply online, you get access to funds the following business day.
    • Ensure you have the required repayment methods. You will likely have to provide a post-dated check or your bank account details. If you’ve given a post-dated check, the lender will cash it on the due date. Otherwise, they will debit the money from your bank account.

    Cut-off times to get a short term loan the next business day

    ProviderCan you receive next business day funding?When do you have to apply by?
    100 Day Loanstraffic-light-yellow-iconVaries between lenders.
    Achieve Lendingtraffic-light-yellow-iconVaries between lenders.
    Advance Americatraffic-light-green-iconIn-store loans are funded within 10-15 minutes. Online loan applications received prior to 8 p.m. EST are funded the following banking day.
    CashAdvance.comtraffic-light-red-iconFunding in 1-2 business days.
    CashNetUSAtraffic-light-red-iconLoans approved before 9 p.m. CST Mon-Thurs are funded the next banking day. Loans approved outside these hours are funded on Monday.
    Cash Centraltraffic-light-red-iconLoans approved before 7:45 p.m. EST Mon-Thurs or anytime on Friday and Saturday are deposited the next banking day. Loans approved after 7:45 p.m. on Sunday will be deposited on Tuesday.
    Check Citytraffic-light-green-iconIn-store applications can be funded within 15 minutes. Online applications will be funded the business day if submitted before 7 p.m. MST on weekdays or 8 p.m. MST on Saturdays. Sundays and holidays will take an additional business day for approval and will be funded the business day after that.
    Check into Cashtraffic-light-yellow-iconIn-store funding available on weekends (some stores closed on Sundays) and online applicants can pick up their approved loans in-store.
    LendUptraffic-light-green-iconIf your loan is approved by 5 p.m. PST Monday-Friday (excluding holidays), you will generally receive your funds the next business day. Exact funding time depends on your bank.
    LoanMarttraffic-light-green-iconSame-day funding.
    Net Credittraffic-light-red-iconNext banking day.
    NetLoanUSAtraffic-light-yellow-iconVaries between lenders.
    Personal Money Storetraffic-light-yellow-iconVaries between lenders.
    Speedy Cashtraffic-light-green-iconIf you visit a store, you can pick up cash or have it loaded onto a prepaid debit card.
    TrustedLoanNetworktraffic-light-yellow-iconVaries between lenders.
    USA Payday Cashtraffic-light-red-iconNext banking day.

    Benefits and drawbacks

    What’s the good?

    • You’ll get quick access to funds. Hardly any other types of financing can give you access to funds on the day you apply.
    • Bad credit is OK. Lenders make their decisions on your current financial situation and income, rather than looking at your credit score.

    What’s the bad?

    • They can come with high fees. The interest rates of payday loans are much higher than a traditional loan from a bank or credit union.
    • You could be hit with high default fees. If you can’t pay back the loan, you may get charged with default fees. These vary depending on what state you live in, but they are generally very high and add to the cost of your loan.

    Things to avoid

    • Avoid skimming loan offer documents. Read them carefully before signing. This gives you a clear picture of the loan’s terms and conditions as well as the fees you’ll have to pay.
    • Avoid making late payments. A late payment will incur extra charges. Importantly, avoid taking a loan that you feel you might have difficulty repaying.
    • Avoid refinancing your loan. Refinancing will incur additional costs because it will lengthen the time interest has to accumulate.

    Lenders with 24/7 application processing

    Are payday loans available in my state?

    Questions you’ll need answered before applying

    You will have to meet state-specific minimum age requirements, have a steady source of income and be a permanent resident of the US. If you’re applying online, you should also have a functional checking or savings account.

    Many short term loan providers provide loans of up to $1,000. The maximum you can borrow, though, depends on your state in and your ability to make repayments.

    The lender could charge you a late payment charge or an NSF fee. Some lenders allow you to refinance your loan, but this would involve additional costs and is not legal in some states.

    Some short term lenders can fund your loan on to a prepaid debit card. If you have had a loan previously a lender that offers the service, you could choose to have you funds added to your prepaid debit card.

    This can depend on many factors, such as your bank, your account type and how much you’ve applied for. The soonest you can expect the funds is the next business day, though some loans may take a longer.

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    US Payday Loans Offers

    Learn about our information service
    Slam Dunk Loans

    Get approved for a cash loan today with this lender matching service offering short term funding. Availability depends on your state of residence.

    LendUp Payday Loans

    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

    Check into Cash Payday Loan

    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

    OppLoans Installment Loans

    Get a better installment loan repayment terms up to 36 months, depending on your state.

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