Can you get same-day funding with a payday loan? | finder.com
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Cautions to be aware of with “same day” short term loans

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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.

LendYou Short-term Loans

For fast cash: LendYou

Find a lender that offers cash advances between $100 and $15,000.

  • Min. Loan Amount: $100
  • Max. Loan Amount: $15,000
  • Turnaround Time: 1 business day
  • Must have regular income of $1,000/month and be a US citizen or permanent resident
  • No collateral needed
  • Bad credit is OK

    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 November 14th, 2018
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Max. Loan Amount Turnaround Time Requirements
    CashUSA Installment Loans
    A connection service for quick cash loans up to $10,000.
    $10,000
    As early as 1 business day
    Must have a monthly income of $1,000+ after taxes and valid checking account.
    OppLoans Installment Loans
    Installment loans with competitive rates from a top-rated direct lender.
    $5,000
    1 business day
    Must have direct deposit and meet minimum income requirements.
    Jora Installment Loans
    Installment loans with repayment terms up to 30 months, depending on your state.
    $2,600
    1–2 days
    Must have an active checking account, regular source of income and email address.
    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
    1–2 business days
    You must be at least 21 and an American citizen and have a bank account, email address and phone number.
    LendYou Short-term Loans
    Apply online with this loan-connection company offering unrestricted short-term loans at high maximums — fast turnaround.
    $15,000
    1 business day
    You must be a US citizen or permanent resident, age 18+ and have a regular income.
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    Varies by state
    1 business day
    You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
    ACE Cash Express Short-term Loans
    Quick payday, installment and title loans with no prepayment penalty and a 72-hour satisfaction guarantee. Funds can be loaded on an ACE Elite™ Visa® Prepaid Debit Card.
    Varies by state
    Generally receive the money the next business day
    Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.

    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 November 14th, 2018
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Max. Loan Amount Turnaround Time Requirements
    BadCreditLoans.com
    With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
    $5,000
    Varies
    Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
    LendYou Short-term Loans
    Apply online with this loan-connection company offering unrestricted short-term loans at high maximums — fast turnaround.
    $15,000
    1 business day
    You must be a US citizen or permanent resident, age 18+ and have a regular income.
    CashAdvance.com Payday Loans
    Whether for emergencies or unexpected expenses, this provider may be able to connect you among its nationwide network of lenders.
    $1,000
    1–2 business days
    You must be at least 18 years old with take-home monthly income of at least $1,000 after taxes.
    Slam Dunk Loans
    Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.
    $2,500
    As soon as next business day
    Must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.
    TriangleCash Payday Loans
    If you have bad credit or no credit history, apply to be connected to a network of lenders for funding at rates that vary by state.
    $1,000
    As soon as next business day
    You must be a US citizen, at least 18 years old, and have a valid bank account.
    LoanSolo.com Payday Loans
    Potentially get connected with a legit lender offering convenient payday loans and quickly get funds.
    $1,000
    As soon as one business day
    You must be 18+ years old, legally work and live in the US, have a bank account in your name and be employed with sufficient income.

    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

    Provider Can you receive next business day funding? When do you have to apply by?
    100 Day Loans traffic-light-yellow-icon Varies between lenders.
    Achieve Lending traffic-light-yellow-icon Varies between lenders.
    Advance America traffic-light-green-icon In-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.com traffic-light-red-icon Funding in 1-2 business days.
    CashNetUSA traffic-light-red-icon Loans approved before 9 p.m. CST Mon-Thurs are funded the next banking day. Loans approved outside these hours are funded on Monday.
    Cash Central traffic-light-red-icon Loans 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 City traffic-light-green-icon In-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 Cash traffic-light-yellow-icon In-store funding available on weekends (some stores closed on Sundays) and online applicants can pick up their approved loans in-store.
    LendUp traffic-light-green-icon If 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.
    LoanMart traffic-light-green-icon Same-day funding.
    Net Credit traffic-light-red-icon Next banking day.
    NetLoanUSA traffic-light-yellow-icon Varies between lenders.
    Personal Money Store traffic-light-yellow-icon Varies between lenders.
    Speedy Cash traffic-light-green-icon If you visit a store, you can pick up cash or have it loaded onto a prepaid debit card.
    TrustedLoanNetwork traffic-light-yellow-icon Varies between lenders.
    USA Payday Cash traffic-light-red-icon Next 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

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    US Payday Loans Offers

    Important Information*
    Slam Dunk Loans

    Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

    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

    Installment loans with competitive rates from a top-rated direct lender.

    Go to site