12 places to borrow money fast

Need money fast? There are lenders that offer same-day or even instant cash advance, and lenders that work with good and bad credit circumstances. Fast funding has traditional requirements, such as being at least 18+ years old and having a regular income. You’ll likely pay more for the convenience of getting a loan immediately, since fast loans are often more expensive than loans with a longer turnaround time.

6 fast loans for bad credit

If you have poor credit and need cash quickly, then a payday loan may be an option for you. While many payday lenders don’t have strict credit score requirements — and many don’t even check your credit — these loans can get pricey. You can read more about a specific lender by selecting Read Review or Go to site.

Provider	Turnaround time	Min credit score	Rates
Opploans	1 business day	None	160% - 179% APR APR, varies by lender	Go to site
Ace Cash Express	As soon as same business day	None	Varies by state	Go to site
LendYou	As soon as same business day	Varies	Varies by lender	Go to site
OneMain Financial	As soon as the same day	Varies	18% to 35.99%	Go to site
Check Into Cash	1 to 2 business days	None	Varies	Read review
Speedy Cash	1 business day	Varies	Varies	Read review

6 fast loans for good and fair credit

These lenders can be a good option if you have a credit score of 580 or higher, and you want to avoid the high rates of payday lenders or pay advance apps. Plus, you could get your loan funded within one business day if you apply online.

Provider	Turnaround time	Min credit score	Rates
Upstart	1 to 3 business days	300	7.80% to 35.99%	Go to site
Upgrade	1 to 4 business days	620	9.99% to 35.99%	Go to site
Lightstream	As soon as the same day	660	7.49% to 25.49%	Go to site
Rocketloans	As soon as the same day	640	9.116% to 29.99%	Go to site
Avant	As soon as the next business day	580	9.95% to 35.99%	Go to site
Credible	As soon as 1 business day	Fair to excellent credit	4.60% to 35.99%	Go to site

How to apply for a fast-money loan

Follow these steps to help you borrow money as fast as possible.

1. Check your bank or credit union. Look on the website to see if it offers fast personal loans that you can qualify for. If available, this could be your fastest and least-expensive option.
2. Check your credit score. Get an estimate of your credit rating before you compare lenders so you don’t waste time with providers you can’t qualify with.
3. Compare all options available to you. Look into all options available to people with your credit score, income and state of residence. One easy way to do this is to use a connection service like Monevo to prequalify with multiple lenders.
4. Get your documents ready. Have PDFs ready for applying like your last three bank statements and a copy of your most recent pay stubs, proof of residence, valid ID, etc. Having these items ready can speed up the process.
5. Apply. If you’re applying online, you typically need to fill out a form with information about your income, debts and personal finances.
6. Review and sign the contract. Make sure you understand the cost, terms when your payments are due. Also look out for any information about late or prepayment penalties.

8 types of fast loans

Depending on your credit score and income, you may have less emergency fast-funding loan options. Banks and credit unions typically require a good credit score, but even if you’re lacking in that department, there are multiple routes to explore if you needed cash yesterday.
1. Credit card cash advance

• Turnaround: Instant
• Amount: Up your to borrowing limit

If you already have a credit card, you can withdraw a cash advance from any ATM. But this can be one of the most expensive options out there — even more expensive than payday loans for smaller amounts.
2. Pawn shops

• Turnaround: Instant
• Amount: 40% to 60% of the item’s value

If you have valuables like jewelry or electronics, you can often pawn them for around 40% to 60% of their value. You’ll get your money instantly — and your item back after you repay the money plus interest, at rates sometimes as high as 200%. However, you have a limited time to retrieve your item, usually up to 30 days.
3. Personal loan with your bank

• Turnaround: Same day to one business day
• Amount: Typically up to $50,000

Some banks offer fast, low-cost personal loans to current customers in good standing. If approved, you won’t have to wait for an ACH transfer — and you’ll usually get your funds that day.
4. Personal loan with your credit union

• Turnaround: Same day to one business day
• Amount: Typically up to $50,000

Credit unions work similarly to banks, and often offer lower rates to people with fair credit. They also often have options for borrowers who need smaller loan amounts. But for a fast loan, you may need to already be a member in good standing.
5. Payday lenders

• Turnaround: Same-day funding
• Amount: Around $100 to $500

Payday lenders often offer between $100 and $500 in same-day loans if you apply at a location, or the next business day if you apply online. A few lenders will pay a percentage of your paycheck. But these often come with rates as high as 700% APR and risk getting caught in a cycle of debt. Consider other options first.
6. Pay advance apps

• Turnaround: Same-day funding to three business days
• Amount: Around $50 to $600

You can check out apps like EarnIn if you’re an hourly worker and try to get an advance on wages you’ve already earned this pay cycle. Instead of interest, you’ll pay an optional tip or monthly subscription. Many offer same-day funding, though sometimes for a fee.
7. Online lenders

• Turnaround: Next business day funding
• Amount: Varies

Online lenders use algorithms instead of bankers to underwrite their loans, meaning you can get approved within minutes. But it usually takes a day to transfer the funds to your bank account. Online loans are easier to qualify for than a traditional bank loan, though rates are often higher. And your options are limited with bad credit.

8. PTO cash advance

• Turnaround: As little as minutes after approval
• Amount: Varies

A PTO cash advance can offer you a way to turn your hard-earned PTO into cash when you’re in a pinch. How much you qualify for depends on how much unused PTO you have. In some cases, you’ll make interest-only monthly payments on your loan until you leave your job or your term is up.

Loans below $1,000

Many personal lenders have minimum loan amounts starting at $1,000. If you need less than that, then a payday lender may be the route for you. Just keep in mind that it can be a pricey option.

• Guide to $50 loans
• Guide to $100 loans
• Guide to $500 loans
• Guide to $1,000 loans

What to watch out for with fast loans

Fast loans can help you out of an emergency. But they can come with some major drawbacks.

• High interest rates and fees. The fastest loans often cost more than loans that take a longer time to approve — with the exception of financing from your current bank or credit union. Payday loan APRs can often top 700%.
• Expensive repayments. Payday loans can require repayment within a few weeks or a month. This can be difficult to afford if you don’t have the income to cover the cost. And if you roll over your repayment, you’re often charged an additional fee.
• Cycle of debt. If you roll over your loan more than once, you could end up racking up fees at a rate that makes it difficult to repay. This is a debt cycle, which can lead to default. In the worst cases, your lender could even sue you for nonpayment.