Written by: Adam West
Edited by: Lillian Guevara-Castro
The best 1-month payday loans give you more time to repay your payday lender. While most cash advance loan options require repayment within two weeks — or whenever you receive your next paycheck — these loans extend your repayment term to better fit your budget.
Just keep in mind that a traditional payday loan may charge a finance fee that translates to an extremely high interest rate. Extending your loan may also increase the amount of interest you pay to satisfy your debt.
With the online lending networks listed below, you may qualify for 1-month payday loans without the typical online payday loan interest rate. Even better, you can qualify with bad credit and get money deposited into your checking account or another bank account by the next business day.
1 Month Payday Loans For Bad Credit
Many people shy away from payday loans because of their expensive loan rates. But you may qualify for a bad credit installment loan from the lending networks below, which gives you the same cash you’d get from a payday lender at a lower cost.
These loans give you one-month repayment options, but you can extend the repayment term for larger loans as long as 72 months to give you more time to satisfy the debt. Your single loan application can yield multiple loan offers that will each have a different repayment term, interest rate, loan amount, and monthly payment.
1. MoneyMutual
- Short-term loans up to $5,000
- Online marketplace of lenders
- Funds available in as few as 24 hours
- Simple online form takes less than 5 minutes
- Trusted by more than 2 million customers
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| Up to $5,000 | Varies | Varies | See representative example |
MoneyMutual ranks as our top-rated online lender network because of its ability to connect a borrower with a direct lender that offers a diverse number of loan types — including 1-month payday loans and longer-term installment loans.
And unlike traditional payday loan companies, each payday loan lender that partners with MoneyMutual has a cap on the annual percentage rate of interest they can charge. This means you’ll only receive competitive, affordable loan offers based on your credit history, among other criteria.
2. CashUSA.com
- Loans from $500 to $10,000
- Receive a loan decision in minutes
- Get funds directly to your bank account
- Use the loan for any purpose
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $500 to $10,000 | 5.99% - 35.99% | 3 to 72 Months | See representative example |
CashUSA.com offers both unsecured loan and secured loan options that require collateral for approval. You’ll start your loan application process with a soft credit check that won’t harm your credit score. Even with bad credit, you may qualify for multiple payday advance loan offers.
Once you accept an offer and complete your loan agreement paperwork, you can receive your loan proceeds in your linked checking account or another bank account. You’ll then repay your direct lender — not CashUSA — under the terms of your loan agreement.
- Quick loans up to $5,000 as soon as tomorrow
- Submit one form, get multiple options
- All credit ratings welcome — good or bad
- Requires a checking account and $800 minimum monthly income to apply
- No collateral or cosigner required
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $250 to $5,000 | Varies | Varies | See representative example |
InstallmentLoans.com is a great network if you need a loan and can’t receive approval from your bank or credit union. Instead of the strict rules that those financial institutions place on a borrower, each direct lender on this network has forgiving acceptance standards.
Even if you have bad credit, you may qualify for a personal installment loan with a long loan term. Loan amounts vary by lender and will depend on your credit score and other factors.
- Loans from $250 to $5,000
- Cash deposited directly into your account
- Get money as soon as tomorrow
- Bad credit OK
- More than 750,000 customers since 1998
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $250 to $5,000 | Varies | Varies | See representative example |
CreditLoan.com specializes in bad credit loan products with unsecured loan and secured loan options available. This network has it all — whether you’re looking for a small personal loan or a short-term loan with larger loan amounts.
You can even find cash advance loan options that help you get to your next payday. These loans provide quick cash with a shorter repayment term than the terms offered for an installment loan.
- Loans from $500 to $10,000
- Get connected with a lender
- Simple form & quick funding
- Get your money as soon as next the business day, if approved
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $500 to $10,000 | 5.99% - 35.99% | 3 to 60 Months | See representative example |
As you’d expect from its name, Bad Credit Loans has cornered the market on curating loan packages for consumers who can’t get a loan from a traditional bank or credit union. These loans may come with a higher finance charge or origination fee, but they have very relaxed approval standards.
And these loans don’t solely rely on what the credit bureaus report during your credit check. Instead, every online lender that partners with this network looks at a host of data — including your current income and debt load — to qualify you for the small personal loan you need.
- Loans from $250 to $35,000
- Large lender network
- Fast loan decision
- Use the loan for any purpose
- Funding as soon as one business day, if approved
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $250 to $35,000 | 5.99% - 35.99% | 3 to 72 Months | See representative example |
The PersonalLoans.com network will attempt to connect you with a short-term loan provider that may provide you with a loan option that beats the interest rate of a secured loan or credit card.
And unlike others in the payday lending industry, you may have the option to choose your own repayment term — with 1-month payday loans available as well as longer-term loans that let you repay your debt with a monthly payment.
- Short-term loan of $100 to $1,000
- Large network of lenders
- Loan decision as fast as a few minutes
- Funding as soon as the next business day, if approved
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $100 to $1,000 | 200% - 2,290% | Varies | See representative example |
You may qualify for a payday advance loan with a repayment term that can extend as long as one month with CashAdvance. Just keep in mind that cash advance loans are quite expensive and may charge a three-digit interest rate, which is why they’re often considered to be a predatory loan.
That’s why this network clearly states that you should only consider its lenders as a last resort or during an emergency. Just make sure you have a clear plan to repay your loan on time. Otherwise, you may be saddled with even more finance charges and penalty fees.
What is a 1-Month Payday Loan?
A payday loan is an ultra-short-term loan that typically requires quick repayment. The time you have to repay your loan depends on where you live, as well as the loan you’re offered.
Some states require borrowers to repay their loan within as soon as seven days, whereas other states, like Colorado, mandate that lenders cannot require full repayment sooner than within six months.
Payday loans give borrowers a small cash infusion before their next payday. Therefore, a payday lender will typically set your repayment date as the day of your next paycheck. This isn’t always the case, though.
Some payday lenders will extend your repayment period. This may mean you’ll qualify for a 1-month payday loan or even a 3-month payday loan. That makes the repayment term more convenient, but it doesn’t necessarily make this loan a better choice.
The average payday loan interest rate starts around 400% — with many lenders charging upward of 2,000% interest for a two-week loan. The following map shows the average interest rate charged for a payday loan in each state:
If you extend your loan term out to one month or longer, you’ll increase the amount of interest you’re paying on your loan. That means your short term loan can become a big expense.
We always suggest that, instead of turning to a payday lender, borrowers look to an online lending network that provides personal loan options for bad credit borrowers. These loans can include one-month repayment options that may extend to as long as 72 months for larger loan amounts.
When you submit a single loan request to each network above, the network will forward your application to every direct lender partner. Within minutes, you could receive an email with multiple loan offers to choose from.
These loans will offer an interest rate and loan term that is substantially more affordable than what a traditional payday loan may provide. Plus, they’ll offer a flexible way to repay the debt that may not require a lump sum repayment in a matter of weeks.
How Can I Get a 1-Month Payday Loan?
You can apply for a payday loan in several ways. Many cash advance loan centers throughout the US allow consumers to apply in person and leave with cash in hand, or you can easily apply online and receive your funds the next business day.
Some payday lending services don’t require a credit check for instant approval. Instead, they rely on your proof of income that shows your ability to repay the debt when you receive your next paycheck.
While these loans are convenient, they’re often very expensive — with an origination fee and interest rate that can climb into four digits and turn a small loan into a large debt.
The lending networks listed above allow you to apply for a loan at any time of the day or night from any location. Instead of driving or getting a ride to a lending center, bank, or credit union, you can apply from your couch at a time that’s convenient for you.
Your loan request will yield a decision within seconds and could net you an email with multiple loan offers to choose from. Loan types may include traditional loans, like unsecured personal loans with various repayment terms, or payday loans.
If you accept a loan offer, the network will forward you to the loan provider’s official website, where you’ll complete your loan agreement. After that, the lender will initiate a direct deposit of your funds into a linked checking account.
What is the Easiest Loan to Get Approved For?
A secured loan is typically the most accessible loan — but they’re also the riskiest for the borrower.
A secured loan requires collateral for approval. One example is a pawnshop loan that requires you to risk a valuable item to receive a small loan for much less than the item’s value. In this case, your collateral takes the place of your credit check. But if you don’t repay your loan on time, you’ll lose your collateral.
Other secured loan types include auto loans and mortgages, so not all secured loans are bad. But the secured loans that pay you much less than the collateral’s value, such as a pawnshop loan or a car title loan typically would, should be considered a last-resort option.
What’s the Difference Between a Payday Loan and a Personal Loan?
A payday loan is a secured loan product that features a very high interest rate and typically requires full repayment within seven to 30 days. These loans help consumers make it to their next paycheck — but often cost so much that they can start a vicious debt cycle.
An installment loan charges far less in fees and interest and provides a convenient repayment term that allows you to pay back your debt through a series of monthly payments. The amount and number of payments you qualify for will depend on the lender you work with and the amount you borrow.
By submitting your loan request to any of the above networks, you can see which types of loans you may qualify for without hurting your credit score.
What Credit Score Do I Need to Get a Loan?
Lenders don’t always have a minimum credit score requirement for approval. Although a lender may advertise loans for bad credit (which is usually a credit score of 580 and below), the lender will consider many factors besides your credit score when considering your application. These include:
- Your current income
- Your current monthly debt obligations
- Your recent payment history
- The reason for your loan
Instead of focusing solely on your credit score when applying for a loan, make sure your current debts are all paid, and you have no active or recent delinquencies on your credit history.
If you can prove that your income is enough to repay the debt — and that you don’t pose a risk of default — a lender is likely to consider your application despite your bad credit score.
How Much Money Can I Borrow With a Payday Loan?
Payday loan amounts usually range between $500 and $1,000 because these loans are very short term debts with a lump sum repayment typically due within seven to 30 days.
Your payday lender will base the loan offer on your current income and debt load — which may mean you’ll qualify for a larger loan or a much smaller loan. Some payday lenders will approve loans as small as $100 for borrowers in need.
Get Approved For 1-Month Payday Loans Online
Whether you need 1-month payday loans or longer-term personal loans, use an online lending network to see what you qualify for. These networks allow lenders to compete for your business, giving you the power to receive only the best possible offers.
Every direct lender listed above works with consumers who have bad credit to make sure they get the loan they need at a rate they can afford. This means that you can cover your emergency expenses without difficulty repaying the loan in the future.
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