Writer: Eric Bank
Editor: Jon McDonald
Reviewer: Ashley Fricker
Disclosure: When you apply through links on our site, we may earn a referral fee from our partners. For more, see our ad disclosure and review policy.
Possible Finance is part of the expanding market of payday loan alternatives. Combining elements of payday and installment loans, the Possible app offers loans up to $500 with high APRs, allowing borrowers up to eight weeks for repayment.
Luckily, there are plenty of lenders and networks out there offering small, short-term loans, giving you the flexibility to pick one that suits your needs best. In this article, we explore several loan networks and apps worth considering when you’re in the market for a short-term loan. As you’ll discover, many of these options offer more favorable terms than Possible.
Luckily, there are plenty of lenders and networks out there offering small, short-term loans, giving you the flexibility to pick one that suits your needs best. In this article, we explore several loan networks and apps worth considering when you’re in the market for a short-term loan. As you’ll discover, many of these options offer more favorable terms than Possible.
Lending Networks That Can Find Multiple Offers For You
The following networks can find payday or personal loans in minutes. They prequalify your loan requests and link you to one or more loan offers.
These lending networks are free to use and won’t impact your credit score. By comparing each loan offer, you can choose an APR and repayment period to fit your budget.
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 is our top pick as the best loan network for borrowers with bad credit looking for payday or personal loans. It can prequalify your request for a short- or long-term loan in seconds and immediately connect you to a suitable payday lender. You must meet certain age, residency, income, and bank or credit union account requirements to prequalify for a loan.
2. Avant
- Personal loans of $2,000 to $35,000
- Compare rates in 2 minutes without affecting your credit
- Best for low origination fees for bad credit
- 550 minimum credit score required
- Powered by Credible
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $2,000 to $35,000 | 9.95% – 35.99% | 12 to 60 Months | See representative example |
Avant can rapidly prequalify your request for an unsecured personal loan of $2,000 to $35,000. You must have an active email account, bank account, and phone number to qualify. Avant partners with WebBank to issue loans to consumers of all credit types.
- Personal loans from $500 to $35,000
- All credit types are considered and welcome
- Simple, no credit impact form
- Helping consumers since 2001
- 4.7 out of 5 Trustpilot rating with 2,000+ reviews!
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $500 to $35,000 | 5.99% – 35.99% | 60 Days to 72 Months | See representative example |
24/7 Lending Group can find multiple loan quotes ranging from $500 to $35,000. This loan-matching website serves consumers with all types of credit, and it can help you borrow money quickly. The lenders on its network directly deposit the loan proceeds into your bank account as soon as the next business day.
4. Upstart
- Personal loans starting at $1,000
- Find loans you prequalify for, complete your application, and close your loan
- Loans for 300+ FICO Scores
- Checking rates doesn’t impact your credit score
- Powered by Credible
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $1,000 to $50,000 | 6.2% – 35.99% | 1 to 5 Years | See representative example |
Upstart provides an instant prequalification decision when you request an online installment loan. Its network of direct lenders can provide you with multiple small- to medium-sized loan offers to accommodate your individual requirements. The site safeguards your privacy with AES 256-bit encryption.
5. 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 can quickly prequalify your request for a $500 to $10,000 loan, even if you have poor credit. You must be a US citizen or resident, 18 or older, and earn an after-tax income of at least $1,000 per month. You also must have a working phone number, an active checking account in your name, and a valid email address.
- Small personal loans starting at $100
- Receive an approval decision in as little as 2 minutes
- Funds can be deposited into your account in one business day and used for any purpose
- No hidden fees
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $100 to $20,000 | Varies | Varies | See representative example |
SmartAdvances.com offers fast prequalification that can match you to multiple direct lenders. You must have a monthly income of at least $1,000 from employment or government benefits to be eligible. SmartAdvances.com is a member of the Online Lenders Alliance (OLA), a trade group committed to a responsible lending policy and compliance with federal law.
- 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 |
Its name tells the story: BadCreditLoans.com serves consumers with less-than-perfect credit who need to borrow $500 to $10,000 and repay it in monthly installments. To prequalify, you must collect enough income to repay the loan. Alternatively, you can apply for a revolving line of credit if you want extra flexibility.
- Personal loans of up to $50,000
- All credit types welcome
- Receive funds in as little as 24 hours
- Fast approval decision
- Safe and secure application
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| Up to $50,000 | As low as 6.40% | Varies | See representative example |
Loan for Personal connects borrowers of all credit stripes with lenders that can provide quick approval decisions. Its network can fund loans of up to $50,000, but you’ll likely need to aim lower if you have bad credit. But the application is quick and doesn’t hurt your credit score, so you can easily see how much you may qualify for.
Best Mobile Apps Similar to Possible Finance
The cash advance apps we’re about to explore are quite similar to Possible, offering up to $500. But here’s what’s fascinating: most of these apps charge little to no interest. So, it really makes you wonder: Why pay a 460% interest rate for a short-term loan when you might not have to pay anything at all?
9. Dave
The Dave app offers several options, including an online spending account and the ExtraCash™ loan plan. You can borrow up to $500 from ExtraCash without fees, interest, or a credit check. You can transfer the Dave cash advance to your spending account for a small fee.
You’ll repay a Dave cash advance on your next payday. If Dave can’t determine the exact date, repayment will be on the nearest Friday after you took the advance. You can choose to leave a voluntary tip to support the app, and Dave will donate 10% of every dollar tipped to Feeding America.
10. EarnIn
The EarnIn app provides cash advances of up to $100 per day (maximum $750) based on the work you’ve already completed during the pay period. You link the EarnIn app to an electronic timesheet to track your available earnings and an external bank account to receive your advances.
EarnIn doesn’t charge interest or mandatory fees and skips credit checks. Plus, you have the option to leave a tip to support the EarnIn app.
11. ONE@Work
The ONE@Work app collaborates with top employers to offer cash advances to its members. With the app’s Instapay feature, you can access up to 50% of your next paycheck instantly, with no interest attached. However, keep in mind that your employer might charge a fee for using Instapay, so it’s best to check with them first.
ONE@Work keeps track of your work schedule to figure out how much you’ve earned during the pay period. In most states, your employer will handle your loan repayment by deducting it from your paycheck. If that’s not possible, the repayment will be taken from your connected bank account after you get paid.
12. Brigit
Brigit lets you borrow up to $250 each pay period without any credit checks or interest. The app takes a complete look at your financial health, providing tools to help you budget and boost your credit.
The app withdraws money from a linked bank account on your next payday to repay the cash advance, although you can request an extension. Brigit charges $9.99 monthly and claims to have helped more than 4 million members save over $750 million in overdraft fees.
13. Cash App
Cash App offers eligible users loans ranging from $20 to $200 with a 5% flat fee and a four-week repayment term, plus a one-week grace period. If the loan isn’t fully repaid by the end of this period, Cash App will apply a 1.25% finance charge per week on the remaining balance.
The app is upfront with no hidden fees. When you apply for a Cash App loan, it involves a hard credit check from a major credit bureau, which will show up on your credit report. Your borrowing capacity with Cash App depends on your credit profile.
14. MoneyLion
MoneyLion is a comprehensive app that provides its members with mobile banking accounts, credit builder loans, investing products, and credit score tracking. The app’s InstacashSM feature lets you borrow up to $500 with no interest, monthly fee, or credit check.
Receiving your loan funds might take up to five business days. However, if you’re in a hurry, you can choose Turbo Delivery for instant funding, which comes with an additional fee.
15. Payactiv
Payactiv gives you timely access to your earned wages via partnerships with employers. This app directly links to your work timesheet and allows you to request payday advance loans based on wages you’ve already earned.
Your employer will automatically deduct the repayment from your next paycheck. This service is free, but it’s important that your employer is partnered with Payactiv to receive an advance.
What Is Possible Finance?
Possible Financial Inc. (also doing business as “Possible Finance” and “Possible”) is headquartered in Seattle, Washington. The company’s stated aim is to “help you and your community break the debt cycle and unlock economic mobility for generations to come.”
We acknowledge a bit of confusion here, as it’s tough to align the mission statement with Possible’s loan APRs, which can soar above 400%.”
In its defense, Possible Finance loans do not permit rollovers and never charge a late fee. Payday loan rollovers can lead to a debt spiral, and you may never catch up on your payments, which could ultimately result in bankruptcy. Possible doesn’t allow you to get into a rollover cycle.
The company offers two products: A mobile app and a credit card.
Possible Finance App
The Possible Finance App offers short-term loans up to $500, which you can repay in four weekly or bi-weekly installments. These loans come with the same APRs as payday loans, but you get more time to settle the debt. This flexibility can make managing repayments a bit easier if you’re facing a tight budget.
Think about taking a $250 loan through the Possible app. You have a four-week window to repay it, with the total amount coming to $294.12. To receive the funds, simply link your bank account to the app for a direct deposit.
The APRs for Possible Finance loans vary by state. Here are some examples provided by the Possible website:
- In Rhode Island, a Possible loan costs $10 for every $100 borrowed.
- In Alabama, Kansas, Kentucky, South Carolina, Tennessee, and Washington state, a Possible loan costs $15 for every $100 borrowed.
- In California, a Possible loan costs $17.65 for every $100 borrowed.
- In Idaho, Mississippi, and Utah, a Possible loan costs $20 for every $100 borrowed.
- In Delaware, Missouri, and Nevada, a Possible loan costs $25 for every $100 borrowed.
- In Florida, Hawaii, Indiana, Iowa, Louisiana, Michigan, Ohio, Oklahoma, Oregon, and Texas the borrowing fee is not a flat rate.
You have up to eight weeks to pay back the loan in four equal parts. The app allows you to adjust payment dates, and Possible gives you a 29-day grace period after the last installment’s due date.
In some states, Possible Finance directly funds its loans. However, in other states where Possible operates, Coastal Community Bank, Member FDIC, issues the loans that Possible services. The maximum loan amount varies depending on the state.
Possible states that disbursements typically occur within minutes of approval but can take up to five days.
Possible does not use your credit score to determine your eligibility for a loan. It relies on several factors, including your bank account balance, regular income deposits, and a Clarity Services credit check.
Clarity Services, a part of Experian, provides both traditional and non-traditional credit data without triggering a hard inquiry at the major credit bureaus.
When you take out a loan, Possible reports your payments to TransUnion and Experian, two of the three major credit bureaus. Making timely payments can help build your credit, but late payments could negatively affect your score.
Possible Finance Credit Card
The Possible Card offers credit limits of $400 or $800 with an $8 or $16 monthly fee ($96 or $192 annually). You can apply in minutes with no FICO check or security deposit. Aside from the monthly charge, the card never assesses a late fee or overdraft fee.
You can pay your balance in full on the due date or in four installments through its Pay Over Time (POT) plan. You can set up automatic payments for either option.
Possible Finance will lock your card if you choose the POT plan to repay the balance. The card remains locked until you repay your entire balance. The card never charges a late fee and provides $0 liability fraud protection through Mastercard.
The Possible Card does not permit cosigners or authorized users. Possible evaluates your payment performance after six months and may offer you a higher credit limit.
The Possible Card is one of the few unsecured credit cards that doesn’t perform a hard credit check. While this policy and the 0% interest rate are helpful for consumers with poor credit, you pay a high price for it — $96 or $192 per year. The card doesn’t pay rewards and offers only the most rudimentary benefits.
We suggest you instead consider a secured credit card with a low or no annual fee. The security deposit will initially be higher than the Possible Card’s membership fees, but deposits are refundable — Possible fees aren’t. Secured cards are easy to get even if you have poor credit, and a few don’t perform credit checks.
Several secured cards offer cash backrewards and other benefits missing from the Possible Card. And remember, virtually all credit cards have a 0% APR if you pay your entire monthly balance.
Get a Loan From a Trustworthy Lender
When you’re in a rush to borrow money, researching payday lenders is crucial, even for small loan amounts. While we find the loan sources we’ve reviewed to be legitimate, we can’t vouch for the reliability of Possible Finance.
We see recurring comments from borrowers concerning the company’s poor customer service. On the other hand, customer reviews give Possible Finance around 4.5 out of 5 stars on the BBB website.
Whether you borrow from a loan network or a cash advance app, read the loan agreement before accepting an offer. Knowing the provisions of a loan can help you avoid costly surprises.
Advertiser Disclosure
BadCredit.org is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free for users, we receive advertising compensation from the financial products listed on this page. Along with key review factors, this compensation may impact how and where products appear on the page (including, for example, the order in which they appear). BadCredit.org does not include listings for all financial products.
Our Editorial Review Policy
Our site is committed to publishing independent, accurate content guided by strict editorial guidelines. Before articles and reviews are published on our site, they undergo a thorough review process performed by a team of independent editors and subject-matter experts to ensure the content’s accuracy, timeliness, and impartiality. Our editorial team is separate and independent of our site’s advertisers, and the opinions they express on our site are their own. To read more about our team members and their editorial backgrounds, please visit our site’s About page.
