Rapid Cash works with borrowers who have bad credit and offers installment loans ranging from $100 to $1,000 and payday loans stretching from $100 to $500. You can get your money as soon as the same day or within one business day, depending on when your loan was approved.
However, you have to live in Florida and have proof of income to apply for a loan. That income can come from an employer or a government benefits agency. But Rapid Cash doesn’t work with self-employed individuals. Rapid Cash’s fees can also be on the high end. Interest rates on Rapid Cash installment loans are 208% plus a $5 verification fee. For comparison, Payday loan interest rates are 10% plus a $5 verification fee.
But if you want to borrow money outside of Florida and avoid excessive fees, these four options like Rapid Cash may meet your needs.
Upstart offers loans from $1,000 to $50,000 — much higher than you could get at Rapid Cash. And Upstart loans are available in 48 states, compared to Rapid Cash only available in Florida.
Upstart also offers interest rates as low as 7.8%, depending on factors like your credit history. However, origination fees can be as high as 12%. Rapid Cash also charges a $5 verification fee. Still, Rapid Cash's interest rates may be too excessive for some borrowers. Upstart places a 35.99% cap on interest rates.
Not available in: Connecticut, Iowa, Maine, Maryland, Nevada, New York, Oklahoma, Oregon, West Virginia
If you're not satisfied with Rapid Cash's fees or lack of wider availability, you may find something worthwhile through a personal loans network. Fiona connects you with various lenders depending on details like the amount you want to borrow and your credit score.
These lenders may offer loans of up to $100,000. That's much higher than Rapid Cash's personal loan maximum of $1,000. Interest rates on these loans can be as low as 5.4%, depending on factors like your credit history.
However, you should be aware that Fiona doesn't provide loans directly. It matches you with different lenders. So you'd need to vet the terms and conditions of Fiona's recommendations carefully.
Available in all states
Pros
Network with more than 30 lenders
Easy application process
Interest rates can be as low as 5.4%
Cons
Interest rates and amounts vary depending on what Fiona recommends
Third parties may approach you with offers via phone calls or email
LightStream offers personal loans from $5,000 to $100,000, and interest rates range from 6.99% to 25.49% with autopay. Unlike many other lenders, including Rapid Cash, LightStream provides 0.50% discounts if you set up autopay before loan funding. LightStream also offers rates 10 percentage points lower than a competitor's rate on an unsecured loan you were approved for with the same loan terms offered by LightStream.
However, you should note that interest rates on personal loans would be 0.50% higher if you don't opt in for autopay before funding. And LightStream typically approves only customers with good to excellent credit.
MoneyLion Instacash offers cash advances up to $500, and you can even access up to $1,000 — depending on the type of account you have with the company. But unlike Rapid Cash, MoneyLion doesn't charge interest on cash advances. You can get your money within five business days. Or you can get it instantly if you pay a fee ranging from $1.99 to $8.99.
Similarly to payday loans, you generally pay the advance within a week or two — depending on your pay schedule. So, you'll need a source of income to qualify, which can include government benefits. The amount you can borrow generally depends on factors like the size of recurring deposits to your linked checking account and the frequency of your timely payments. You can access up to $700 if you become a Credit Builder Plus member for a Free (or $1 to $5 for RoarMoney account) monthly fee and up to $1,000 if you open a RoarMoney bank account with recurring deposits.
Available in: Alabama, Arizona, California, Delaware, Florida, Georgia, Idaho, Illinois, Kansas, Louisiana, Maryland, Michigan, Missouri, New Mexico, North Dakota, Oklahoma, South Carolina, South Dakota, Texas, Utah, Washington, Wisconsin, Wyoming
Pros
No credit check required
Zero interest on cash advances
Cash advances available in all states
Cons
Sued by the CFPB
Not Better Business Bureau accredited
Access to larger cash advances requires fee-based memberships
Loan amount
Up to $500 or $1,000 with RoarMoney account
Loan Term
Due by your next pay date
Turnaround time
Up to 5 days or instant for a fee of $0.49 to $8.99
Loan amount
$50 - $500
Turnaround time
Up to 5 days or instant for a fee of $0.49 to $8.99
How does Rapid Cash compare?
Rapid Cash offers installment loans and payday loans to people with bad credit — but at a high price. It also doesn’t provide loans to service members or the self-employed. And you need to reside in Florida to work with Rapid Cash. However, other loan providers and cash advance apps can offer more affordable alternatives to a wider range of customers.
Pros
No credit required for payday loans
Works with people who have bad credit
Cons
High rates and fees
Doesn’t offer loans if you’re self-employed or live outside of Florida
Javier Simon is a freelance finance writer at Finder and a certified educator in personal finance (CEPF).
He’s featured on NerdWallet, Bankrate, Yahoo Finance and Fox Business, where he’s shared his expertise on personal finance topics, such as investing, retirement planning, taxes, budgeting and savings.
He has also covered breaking news, such as student loan forgiveness initiatives, the housing market and inflation’s impact on consumers’ wallets.
His passion is turning complex financial concepts into actionable content that can help people improve their financial lives.
Javier holds a bachelor’s degree in multimedia journalism from SUNY Plattsburgh. See full bio
OppLoans installment loans offer funding in as little as 1 business day. Available in certain states only. Get fast funding to tide you over until your payday.
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