7 Best Instant Loans Online (Feb. 2024)

Instant Loans Online

Time matters when you are short of cash. What you want is fast access to a loan, even if your credit is bad. Few borrowing sources are quicker and more accessible than providers of instant loans online.

The seven lending services reviewed here operate by immediately circulating your loan request to their networks of direct lenders that specialize in loans to consumers with bad credit. These lenders finish the loan application process in about 10 minutes and render instant decisions.

If approved, you can collect your loan as soon as the next business day. Whether you need a short cash infusion to get you through to the next payday or a longer-term loan that you can conveniently repay in fixed installments, one of these loan services may be a perfect fit for your needs.

Short-Term | Installment | FAQs

Instant Short-Term Loans Online

Whether you get paid every one, two, or four weeks, you’ll always have a gap between paychecks that sometimes presents an unmanageable financial situation. These two lenders bridge the gap with short-term cash advances that you repay when you receive your next paycheck.

  • 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.


Overall Rating

Loan Amount Interest Rate Loan Term Loan Example
Up to $5,000 Varies Varies

See representative example

MoneyMutual is a provider of cash advances of up to $5,000. You use its short, online loan request form to signal your interest in a loan.

MoneyMutual matches you to the most appropriate lender on its network, where you can finish the application process in a few minutes. Decisions are instantaneous, and the loan proceeds are deposited into your bank account as soon as the next business day.

CashAdvance.com can get you a quick cash loan of up to $1,000. Its network of lenders will quickly respond to your loan request if you meet the minimum requirements.

You must be a U.S. citizen, age 18 or older with a monthly income of at least $1,000 after taxes to qualify for an online payday loan. CashAdvance.com operates in most states, but not all.

Instant Installment Loans Online

These lending services can help you obtain an instant loan that you repay in fixed monthly installments. These companies come in handy when you need loans larger than those available from a cash advance. They all offer fast decisions and fast funding.

CashUSA.com provides you access to lenders who offer installment loans with terms of three to 72 months. The minimum loan amount is $500.

To qualify, you must be a U.S. citizen, at least 18, with an income of $1,000 per month or more. CashUSA.com emphasizes how quickly it can arrange a personal loan for its clients, with funding the next business day after loan approval.

CreditLoan has helped more than 750,000 consumers get online loans since 1998. The loan amounts can range from $250 to $5,000 for periods of three to 60 months.

Lenders on the CreditLoan network are happy to arrange loans to consumers with bad or no credit, and it does so with no fees. The website offers a personal loan calculator where you can work out your monthly payments.

Bad Credit Loans can arrange loans from $500 to $10,000. To qualify, you must be at least 18 years old, a U.S. citizen, and have an email address. The short request form on the Bad Credit Loans website lets you start the process.

You will be put in touch with a lender who will finish the application and decide on the loan. Once approved, you will receive your money on the next business day.

PersonalLoans.com arranges personal loans with terms of three to 72 months for amounts of $500 to $35,000. You must have a regular income, be at least 18 years old, and be a U.S. citizen or resident.

The loan matching service uses a network of lenders who will provide you with the loan’s actual interest rate and payments.

24/7 Lending Group offers installment loan amounts of up to $35,000. Your credit history will determine the loan amount and repayment term you qualify for, but you don’t need to worry about being denied a cash loan if you have bad credit.

You may qualify for reasonable interest rates and have several years to repay the installment loan, which will also help your credit score when you consistently pay on time.

How Can I Get a Loan Online Immediately?

You can get an instant loan very quickly with an online loan-matching company. It’s as easy as 1, 2, 3:

  1. Fill out the short loan request form, which will include general questions about your identity, income, citizenship status, and the amount you want to borrow.
  2. Receive a link from a lender in the loan service company’s network and fill out the lender’s application form.
  3. Get a loan approval and receive the loan proceeds in your bank account by the next business day.

You can use the loan proceeds as you see fit. The lender provides you with a repayment schedule.

Typically, on the payment date(s), the lender will take the money from your bank account. If your account balance is too low, you will probably have to pay a late fee or an overdraft fee.

There are other ways to get an instant loan. One good alternative is to get a cash advance from your credit card. If you have a credit card that allows it, you can get a credit card advance by visiting your nearest ATM.

Credit Card Cash Advance Graphic

The amount you can access is limited by your credit limit and current balance. You incur interest daily starting from the date you withdraw the cash advance.

Less desirable options are payday and auto lien loans (title loans). Payday loans are expensive and charge high late fees, but you can go to a local payday lender storefront and leave with an instant cash loan in hand.

You can apply for payday loans online at CashAdvance.com, but you will have to wait up to 24 hours for the money to be deposited into your account.

An auto title loan is dangerous because you can lose your car if you don’t repay on time and it usually charges high interest rates. A better alternative is an auto cash-out refinance loan, although lenders for this type of loan are not as quick as other lenders.

What’s the Best Online Loan Company For Bad Credit?

If you need a short-term loan, our top recommendation is MoneyMutual. It is not a direct lender. Rather, it operates a network of lenders that work with consumers who have poor or no credit.

  • 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.


Overall Rating

Loan Amount Interest Rate Loan Term Loan Example
Up to $5,000 Varies Varies

See representative example

These lending networks became popular during the Great Recession when bank loans dried up. Now, lending networks provide credit to consumers who do not qualify for a bank loan.

The great advantage of these loan matching companies is that they move fast. They are in constant communication with their lender network and can quickly connect your loan request form to one or more lenders.

Online loan applications typically require about five screens to collect the information needed to evaluate the loan. Providers of bad-credit loans look at other personal qualifications apart from credit score, including your income and expenses.

If you need an installment loan right away, our top choice is CashUSA.com. With loan amounts beginning at $500, you can access a bad credit loan when you have earnings as low as $1,000 per month, after taxes. This rather lenient requirement serves low-income persons with bad credit.

As with the other services reviewed here, CashUSA.com is perfect for consumers who need a loan as soon as possible. It can arrange loans with terms as long as 72 months, and you may be able to arrange a loan without a hard credit check.

It’s always important to read and understand the loan terms, including the interest rate, monthly payments, and total cost of the loan.

Can I Get a Quick Loan From My Bank?

Banks have many advantages. They offer insured savings, convenient checking, and around-the-clock ATMs. But what they aren’t known for is speed.

Banks, for various reasons, are cautious institutions that require careful underwriting of loans to assess the risks of default and require oodles of paperwork when you apply for a loan.

But things have improved. Many banks now offer apps that allow you to do remote banking without visiting branches. You can even apply for a loan on a bank website. But even so, the period between applying for a bank loan and receiving the funding can stretch out for days or weeks.

You may qualify for Payday Alternative Loan (PAL) if you’re a member of a credit union. These are two credit union loans, PAL I and PAL II, that help borrowers avoid taking out a predatory payday advance loan. Not every credit union offers PALs, so you may want to contact customer service before visiting a branch.

Meanwhile, the online loan service companies reviewed in this article take just a few minutes to submit your loan request, and you may receive a loan offer within seconds.

Direct Lenders vs Lending Networks

If you like the loan option you’re presented with, you can complete the application on the lender’s website. You will then receive an approval decision in a few minutes and have your funds deposited by the next business day.

Online Loans are Safer, Cheaper than Title and Payday Loans

Instant loans online are a reality, whether you need an emergency loan or an installment loan with a longer repayment term. These lending networks can provide access to fast cash within 24 hours.

Moreover, these loans are cheaper and safer than auto title loans or payday loans. If you take an online loan, paying it back on time may help you improve your credit score.

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