Editor's choice: Fast5kLoans Short-term Loans Connection Service
- Wide range of loan amounts
- Variety of loan terms
- Quick process
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
7 loans like Spotloan
Find lower rates, longer terms and higher amounts with these alternatives.
Spotloan’s installment loans are limited compared to other providers — you can only borrow between $300 and $800. with a maximum term of 10 months. And with annual percentages as high as 490%, it’s possible to find a cheaper option. These lenders can offer higher loan amounts, lower rates and longer terms.
Our 7 top picks like Spotloan
- If you’re looking for lower rates: OppLoans
- If you’re a repeat borrower: LendUp
- If you want to avoid a credit check: Possible Finance
- If you have collateral to back your loan: OneMain Financial
- If you need $50 today: Check Into Cash
- If you’re not sure you’ll need the funds: Ace Cash Express
- If you want to quickly compare offers: LendYou
For lower rates
OppLoans Installment Loans
4.4 / 5 ★★★★★
With an annual percentage rate (APR) cap of 160%, OppLoans offers lower cost funds than your typical installment loan provider. It also reports your payments to credit bureaus, which can help improve your credit score. And it offers the option to change your due date if you can't make a payment. But it has relatively high income requirements in some states and you must get paid through direct deposit to qualify. Important: Opploans is NOT available in AS, AR, CA, CO, CT, IL, IA, MD, MA, NH, NJ, NY, NC, ND, PA, VT, VA, WV
Pros
- Rate cap at 160%
- Can improve credit
- Flexible due date
Cons
- Minimum monthly income
- Must get paid with direct deposit
- Requires active bank account
| Loan amount | $500 - $5,000 |
|---|---|
| Interest rate type | Fixed |
| Loan Term | 9 to 24 months |
| Turnaround time | 1 business day |
| Loan amount | $500 - $5,000 |
|---|---|
| Turnaround time | 1 business day |
| Online application | Yes |
For repeat borrowers
LendUp Payday Loans
LendUp is a payday and installment loan provider that allows you to unlock higher loan amounts if you're a repeat borrower in good standing. For borrowers in some states, it also reports payments to credit bureaus to improve your score. But you won't qualify for an installment loan the first time around. And rates can top 1,000% APR.
Pros
- Loans as low as $100
- Can improve credit in some states
- Credit educational resources
Cons
- Rates over 1,000% APR
- Loans capped at $250 the first time
- Credit reporting not available everywhere
| Loan amount | $100 - $250 |
|---|---|
| Interest rate type | Variable |
| Loan Term | 7-30 days |
| Turnaround time | As soon as the next business day |
| Loan amount | $100 - $250 |
|---|---|
| Turnaround time | As soon as the next business day |
| Online application | Yes |
For no credit check installment loans
Possible Finance Mobile Installment Loans
Possible Finance is an app that doesn't even consider your credit history when you apply for a loan. However, it still reports all payments to credit bureaus to boost your score when you pay on time. And if you have a Visa debit card, you can get your funds the day you're approved. But with loans capped at $500 and terms no longer than to two months, it's closer to a payday loan than most other installment loans. People have also reported issues using the app in the past.
Pros
- No credit check
- Can improve credit
- Same-day funding for Visa debit card holders
Cons
- No terms over two months
- Technical problems with app
- Only available in seven states
| Loan amount | Up to $500 |
|---|---|
| Interest rate type | Fixed |
| Loan Term | Up to 2 months |
| Turnaround time | As fast as 1 business day |
| Loan amount | Up to $500 |
|---|---|
| Turnaround time | As fast as 1 business day |
For using collateral to get a lower rate
OneMain Financial personal loans
3.4 / 5 ★★★★★
OneMain Financial is a personal loan provider that specializes in bad credit. It offers secured loans to help you qualify for a lower rate and could be one of the better deals available to you. With APRs from 18% to 35.99%, rates are high for a personal loan but lower than most bad credit options. But some credit history is required to qualify.
Pros
- Personal loans for bad credit
- Max APR 35.99%
- Secure your loan for lower rate
Cons
- Requires credit history
- High missed payment fee of $50
- Requires full property insurance on collateral
| Loan Amount | $1,500 - $20,000 |
|---|---|
| APR | 18% to 35.99% |
| Interest Rate Type | Fixed |
| Min. Credit Score | Varies |
| Turnaround Time | As soon as the same day |
| Maximum Loan Term | 5 years |
| Minimum Loan Term | 2 years |
| APR | 18% to 35.99% |
|---|---|
| Min. Credit Score | Varies |
| Loan Amount | $1,500 - $20,000 |
For when you need $50 today
Check Into Cash Payday Loan
4.5 / 5 ★★★★★
Check Into Cash is one of the biggest payday lenders in the country — and one of the only that offers loans as low as $50 in some states. If you apply in person at a location, you can get your money as soon as the day you're approved. But the fees charged create high APRs, and installment loans aren't available everywhere. Make sure it offers what you're looking for in your state before you apply.
Pros
- Established, legitimate payday lender
- Loans as low as $50
- Same-day funding available
Cons
- High APRs
- Installment loans not available in every state
| Loan amount | Varies by state |
|---|---|
| Interest rate type | Fixed |
| Loan Term | Varies by state |
| Turnaround time | 1 to 2 business days |
| Loan amount | Varies by state |
|---|---|
| Turnaround time | 1 to 2 business days |
| Online application | Yes |
For when you’re not sure you’ll need the funds
ACE Cash Express Short-term Loans
3.6 / 5 ★★★★★
Ace Cash Express allows you to return your loan within 72 hours without any cost. This makes it a good option for when you're not sure how much you need to borrow — or if you'll need a loan at all. It also offers same-day funding if you apply in a store and other services like prepaid debit cards. But it doesn't disclose interest rates online, which can be the sign of a high-cost loan. And installment loans might not be available in your state.
Pros
- 72-hour return period
- Same-day funding available
- Apply online or in person
Cons
- Installment loans not available everywhere
- Doesn't disclose cost online
- Some negative customer reviews
| Loan amount | $100 - $5,000 |
|---|---|
| Interest rate type | Fixed |
| Loan Term | Varies by state |
| Turnaround time | As fast as same business day |
| Loan amount | $100 - $5,000 |
|---|---|
| Turnaround time | As fast as same business day |
| Online application | Yes |
For quickly comparing offers
LendYou Short-term Loans
LendYou allows you to compare offers from multiple lenders by filling out a quick online form when you don't have the time to shop around. It's one of the few connection services that's a member of industry organizations like the Online Lenders Alliance (OLA). But you might have to field calls and emails from short-term lenders after you use this service — even after you choose a loan. And you won't know the rates and fees available until after you submit personal information.
Pros
- Member of Online Lenders Alliance
- Quickly compare multiple offers
- Secure website
Cons
- Potentially high APRs
- $1,000 monthly income requirement
- May receive marketing materials from partners
| Loan amount | $100 - $2,500 |
|---|---|
| Interest rate type | Fixed |
| Loan Term | Varies |
| Turnaround time | Same business day to 1 business day |
| Loan amount | $100 - $2,500 |
|---|---|
| Turnaround time | Same business day to 1 business day |
How does Spotloan stack up?
You can read our review of Spotloan to get a full picture of how this provider works. But here are the main benefits and drawbacks of borrowing from Spotloan.
Pros
- Variable repayment plans
- Easy online application
- Money available the next day if you apply by 5 p.m. ET
Cons
- Offers loans from $300 to $800 only
- APR and fees depend on the terms you qualify for
Compare our top picks for bad credit loans to find the best deal available to you.
More guides on Finder
-
Greenline Loans review
No cost breakdown available online, but relatively quick application process.
-
Riverbend Cash short-term loans review
There’s no application fee or prepayment penalty for this installment loan.
-
Best debt consolidation loans of August 2021
Compare 6 lenders to find one that’s a good fit for your needs.
-
Compare garage door installation costs
Plus, 6 questions to ask to find the right professional for the job.
-
Simple Fast Loans review
With limited information available online, you may want to consider other options.
-
3 alternatives to American Express student loans
American Express doesn’t offer student loans — here are our top picks for alternatives.
-
3 alternatives to Peak Acceptance auto loans
Peak Acceptance no longer provides direct auto loans, but you can find similar loans elsewhere.
-
Transform Credit personal loans review
Fast funding even with poor credit — but you’ll need a cosigner.
-
11 alternatives to payday loans during the coronavirus outbreak
Grants, nonprofit assistance and other options to cover your bills.
-
Loans for small businesses affected by the coronavirus
Where to find free or low-interest funding to keep you afloat during the COVID-19 outbreak.
Ask an Expert
I would like to borrow $600 without paying it back for say 5-6 months.
Hi Lori,
Thank you for getting in touch with Finder.
I’m afraid that we do not have list of providers that would let you borrow $600 without paying back for a few months. Basically, short-term loans should be paid on a certain repayment frequency like weekly, fortnightly or monthly. I suggest that you get in touch with your chosen lender to know if your request is possible.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni