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.
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.
Follow these steps to help you borrow money as fast as possible.
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.
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.
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.
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.
Apply. If you’re applying online, you typically need to fill out a form with information about your income, debts and personal finances.
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.
7 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.
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.
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.
Bethany Hickey is a personal finance writer at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine.
Yes. But it will likely cost you more than the average personal loan. That’s because many of your options fall into the category of short-term loans. These loans come by many names: payday, auto title, pawn, debit card, and signature loans. What makes them expensive are fees and APRs that can top out at 700% or more.
A checking account, however, opens the doors to stronger lenders and could help you potentially qualify for competitive rates, if you have good credit.
I understand that you are needing money right now. There are options available in India when it comes to borrowing money. You may want to approach local lenders and banks in your area and check your eligibility in taking out a loan. I hope this helps!
You can actually compare your options above if you want to apply for a loan within your preferred interest rate. You just need to enter your state of residence and click the Show me my Options button. By the way, depending on your preferred type of loan, as long as you have a stable income and can do repayments, you may apply for short-term loans and payday loans.
I can’t tell if you’re going to be approved because it’s the lender who will decide. Each lender has their own eligibility criteria so it’s best to get in touch with the lender before submitting an application.
Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
On getting a loan, you would need to approach a lender or a bank available in India to assist you in taking out a loan. Depending on their eligibility requirements and documents needed as well as your financial capability to payback the loan, the lender or bank will work with you in evaluating your application. Hope this helps!
The lenders featured in this page caters to customers in the US. Assuming you are, you need to choose your state of residence from the dropdown above to display lenders who can help you. Before applying for any loan, please ensure that you meet the eligibility criteria and requirements of the loan option or lender and make sure to read the details, as well as the relevant PDS/ T&Cs of the loan option before making a decision and consider whether the product or option is right for you.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser Disclosure
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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
WOULD I BE ABLE TO BORROW MONEY WITHOUT A BANK ACCOUNT
Hi Aimee,
Thanks for leaving a question on finder.
Yes. But it will likely cost you more than the average personal loan. That’s because many of your options fall into the category of short-term loans. These loans come by many names: payday, auto title, pawn, debit card, and signature loans. What makes them expensive are fees and APRs that can top out at 700% or more.
A checking account, however, opens the doors to stronger lenders and could help you potentially qualify for competitive rates, if you have good credit.
Check out our no-bank-account loans to compare your options.
Please send me a message if you need anything else. :)
Cheers,
Joel
I am Indian. I want 10000inr. But I have no securities and job and bank account. Help me.
Hi Naidu,
Thank you for leaving a question.
I understand that you are needing money right now. There are options available in India when it comes to borrowing money. You may want to approach local lenders and banks in your area and check your eligibility in taking out a loan. I hope this helps!
Cheers,
Reggie
I need a loan to process some documents for my transport company. Will I be approved for $1000 USD at an interest not beyond 5%?
Hello Mwanja,
Thank you for your comment.
You can actually compare your options above if you want to apply for a loan within your preferred interest rate. You just need to enter your state of residence and click the Show me my Options button. By the way, depending on your preferred type of loan, as long as you have a stable income and can do repayments, you may apply for short-term loans and payday loans.
I can’t tell if you’re going to be approved because it’s the lender who will decide. Each lender has their own eligibility criteria so it’s best to get in touch with the lender before submitting an application.
Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
Plz I need urgently loan thanks
Hi Nand,
Thank you for leaving a question.
On getting a loan, you would need to approach a lender or a bank available in India to assist you in taking out a loan. Depending on their eligibility requirements and documents needed as well as your financial capability to payback the loan, the lender or bank will work with you in evaluating your application. Hope this helps!
Cheers,
Reggie
Hi sir please help me please I request I begging u sir my mom health problem sir please help me
Hi Seetha,
Thanks for leaving a question on finder.
The lenders featured in this page caters to customers in the US. Assuming you are, you need to choose your state of residence from the dropdown above to display lenders who can help you. Before applying for any loan, please ensure that you meet the eligibility criteria and requirements of the loan option or lender and make sure to read the details, as well as the relevant PDS/ T&Cs of the loan option before making a decision and consider whether the product or option is right for you.
Cheers,
Joel