Written by: Adam West
Edited by: Lillian Guevara-Castro
Reviewed by: Ashley Dull
The internet makes so many things easier. With a few clicks or taps, you can order food from your favorite restaurant, search for your next home, or even find and apply for a quick online loan.
Online lending marketplaces don’t limit you to local banks, credit unions, or payday lenders. You can apply for a loan with a lender anywhere in the US. — and in many cases, you can have your money within 24 hours.
Below you’ll find our top choices for the best money loans online for consumers who don’t have perfect credit. Of course, everybody’s financial circumstances are unique, which is why we’ve included several options that offer various amounts and terms. Perhaps one will work for you.
1. MoneyMutual: Online Loans of up to $5,000
MoneyMutual is an online lending marketplace, meaning it shops your information to a host of partner lenders to find the best possible deal based on your financial circumstances and needs. You could receive multiple loan offers to choose from.
The online application takes less than five minutes to complete and loan decisions are made within minutes. If you qualify, you can receive loan funding in your checking or savings account by the next business day.
- 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 |
Since MoneyMutual is not your actual lender — and each lender on the lending network has different acceptance standards and loan terms — you’ll have to carefully check every potential loan offer you receive to find one that is right for you. That means looking at the interest rate, the term length of the loan, and the total cost required to pay your loan off.
2. CashUSA.com: Online Loans of Up to $10,000
The CashUSA.com lender network accepts loan requests of up to $10,000 for borrowers who need a large loan amount. If approved, your lender can wire funds within 24 hours to your bank account. Repayment terms range between three and 72 months.
Since the network partners with many different lenders, it can often find one that works with consumers who have bad credit, which increases the odds of each applicant finding a loan that meets their needs.
- 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 |
You can get a loan decision within minutes after a brief application process. To qualify, you must be at least 18 years of age, a US citizen or permanent resident, earn at least $1,000 a month after taxes, have a checking account in your name, and a valid email address and phone number.
Not every applicant will receive a loan offer of $10,000, and all loan approval decisions rely on your current credit history. CashUSA.com may require additional information from you after your initial application, which may extend the time needed to reach a loan decision.
3. BillsHappen®: Online Loans of Up to $5,000
BillsHappen® is an online personal loan network that starts the process by asking you how much you want to borrow. From there, it will ask which state you live in, your name, and contact info, at which point you’re already 25% done with the application.
Seeing whether you prequalify for a loan offer will not require a credit check or affect your credit score.
- Quick loans up to $5,000
- Submit one form, get multiple options
- All credit ratings welcome
- Requires bank account and SSN
- As seen on CNN, FoxNews, and others
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $500 to $5,000 | Varies | Varies | See representative example |
This network is quick and secure, using the latest SSL technology to keep your private information safe. Many of its lending partners can help borrowers on fixed incomes, including recipients of Social Security, retirement, or veteran’s benefits.
4. CreditLoan: Online Loans of Up to $5,000
The CreditLoan.com network accepts applications for loans as small as $250 and up to $5,000. Depending on your credit history, you could receive multiple loan offers from which to choose.
Many of the lenders on this network specialize in extending loans to consumers who have poor credit. CreditLoan has facilitated more than 750,000 loan connections since the network’s inception in 1998.
- 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 |
Once you submit your loan application, the network quickly shops your request to its lenders and could return with one or more loan offers. Each offer sends you to the lender’s website where you can view the complete details of the loan, including the APR and repayment period.
If you decide to accept the loan, you will need to complete the lender’s online paperwork. You’ll also link your checking or savings account so the lender can wire the loan funds to you.
Since CreditLoan.com is only the lending marketplace — not the actual lender — you’ll continue to work with your chosen lender to pay off your loan. Your interest rate and loan repayment terms will vary by the amount of your loan and the lender you choose.
5. BadCreditLoans: Online Loans of Up to $10,000
BadCreditLoans.com is one of the oldest online lending marketplaces, having served customers since 1998. The company’s name tells you upfront that it extends most of its loans to consumers who have bad credit.
Many applicants who struggle to qualify for loans from banks or credit unions often find the money they need on this network.
- 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 |
Bad Credit Loans doesn’t limit its loan products only to consumers with bad credit. It also provides loans to people who are just starting to build credit and may not have enough history under their belt to qualify for a personal loan from a bank.
Your loan offer will be based on your creditworthiness and verified income. Not every applicant will qualify for a top-end loan, and each lender on the network sets unique terms for every loan offer.
6. PersonalLoans.com: Money Loans Online of Up to $35,000
Many lenders, both online and offline, extend loans for specific purposes. These include mortgage loans for a new home and auto loans for a car. But a personal loan gives you the complete freedom to use your funds for any purpose you choose.
PersonalLoans.com has one of the largest online networks of personal lenders. And when it comes to finding a personal loan, there’s strength in numbers.
- Loans from $1,000 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 |
|---|---|---|---|
| $500 to $35,000 | 5.99% - 35.99% | 3 to 72 Months | See representative example |
If you have a bad credit score or no credit history at all, you’ll increase your chances of finding a loan if you use a lending marketplace that shops your application to a large number of lenders.
Most lenders can process applications and disburse funds within one business day. That timeline often beats out most banks and credit unions and is one reason online lending marketplaces like PersonalLoans.com continue to gain market share in the loan industry.
7. 24/7 Lending Group: Online Loans of Up to $35,000
Another option for large loans, 24/7 Lending Group can provide you with a large installment loan if you have good credit. Those with poor credit can expect to be offered a smaller loan amount with easy approval criteria.
- 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 |
You can use your loan amount for any purpose, but its network says the top reasons applicants seek loans are to pay off debt, fix their car, make home improvements, and take vacations. And, of course, the occasional unexpected expense that can’t be put off.
You can compare loan options to find the best direct lender for you. Be sure to read the loan agreement of each online lender you’re matched with so you understand the cost to repay the loan.
8. SmartAdvances.com: Online Loans of Up to $20,000
You can get a loan as small as $100 from SmartAdvances.com, and sometimes that’s all you need to get you through to your next paycheck.
- Personal loans from $100 to $20,000
- 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 |
This network is a member of the Online Lenders Alliance, which means it is committed to responsible lending compliant with the law under the Truth in Lending Act. There is no obligation to accept any loan offer you may receive.
But this network ranks lower in our ratings because it states in the fine print that you may not be presented with the best rates or terms. Therefore, you’re strongly encouraged to compare all your available loan options. But if you need an emergency loan, this network may provide the solution.
9. CashAdvance.com: Online Loans of Up to $1,000
CashAdvance.com does as its name implies — it provides access to payday loans that can give you a quick cash boost until your next paycheck.
Since 1997, CashAdvance.com has connected consumers to a vast network of lenders that offer loans from $100 up to $1,000, with terms that require prompt repayment, generally within weeks. Cash advance loans charge much higher interest rates than traditional loans, and that is why we suggest using these types of loans only as a last resort.
- 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 |
To qualify for a payday loan, you must be age 18 or older, employed, and earn at least $1,000 per month after taxes. Lenders require proof of income for approval. You’ll also need to provide your current contact information, including your phone number and email address.
Some of its lenders may require more information to process your loan request. If that happens, you’ll submit that information to the lender on its own website. CashAdvance.com will not ask you for more information beyond what’s required in its initial application.
What is the Best Online Loan?
This depends greatly on the amount of money you need and how long you’ll need to pay off the debt. The best online loan for you will be one that can match your request and provide fair terms that won’t cost you an arm, leg, or another necessary appendage.
But, regardless of your financial needs, you may be best served by choosing an online loan that comes from a lending marketplace. That’s because these networks require one form to shop your loan request to several lenders, which can result in multiple loan offers for you to choose from.
Another key factor in favor of lending networks is that they limit the hard inquiries placed on your credit report. Every time you apply for a credit card or loan, the lender that receives your application places a hard inquiry on your report. This gives the lender access to your credit report so it can make a loan decision.
Each inquiry lives on your credit report for up to two years. A few of these inquiries are fine. Lenders understand that you’ll occasionally apply for a loan or credit card. But excessive credit applications are seen by lenders as a sign of financial stress, and they may perceive you as a risky borrower.
Approximately 10% of your overall FICO credit score is based on the number of inquiries made on your credit report. By using a lending marketplace, you’ll only see one hard inquiry placed on your credit report unless you choose a cash advance loan that may not check your credit at all. Lending networks give you the opportunity to compare multiple loan offers without incurring multiple hard inquiries.
Where Can I Borrow Money Fast?
Securing a personal loan from a bank or credit union can take anywhere from a day to a few weeks. Not everyone has the patience — or financial ability — to wait that long. That’s why so many consumers turn to online marketplace lenders for fast approval and quick loan funding.
Most lender networks, such as those above, provide online applications that take less than five minutes to complete. The network then takes your application and shops it to a host of direct lenders and returns the best loan offer — or multiple loan offers, depending on the network and your qualifications — in a matter of minutes.
Once you’ve settled on an offer, you’ll leave the marketplace and complete the loan paperwork with the specific lender whose offer you’ve chosen. Most lenders can complete the process the same day and wire funds to a linked checking or savings account within 24 hours, though some can take longer on a weekend or holiday.
The speed of online networks and the number of lenders offering loans to consumers who have bad or no credit has helped the online lending industry explode over the last decade.
Just remember to check the marketplace you use to make sure it works with borrowers in your location. Local governments place limitations on where some lenders can operate. A good example of this is MoneyMutual, which cannot accept applications from borrowers in New York.
Every network needs to obtain a license to operate in the states where they conduct business. While many networks work in all 50 states, some networks are not licensed to operate in certain states.
Can You Get a Loan without Proof of Income?
Most lenders require proof of income to approve a loan application, but there are exceptions to the rule. Lenders that don’t rely on employer income may require other forms of proof you can repay the loan. This could include alternative sources of income — such as Social Security benefits, a pension, child support, or retirement savings.
You may also find a lender who will approve your loan application if you provide collateral. This requires you to put up something of value — such as your home, car, jewelry, or other items — as an incentive for a lender to approve your application. If you fail to repay your loan, though, you will lose the item you’ve placed as collateral.
Another option to secure a loan without proof of income is to find a cosigner who is willing to vouch for you to get the loan.
This requires the cosigner to include his or her information on your loan application to improve your approval chances. This gives you even more responsibility to pay off your loan, as any late or missed payments affect your and the cosigner’s credit rating.
While this can work well for both parties when payments are made on time, it’s not to be taken lightly, as there are many cases where co-signing ended with disastrous effects.
Get Money Fast with an Online Lending Network
When looking for the best money loans online, seek out lender marketplaces with a long history of lending success, such as those mentioned above. If you’re in a financial bind, you don’t have time to play the waiting game while a bank loan officer considers whether to approve your loan application.
A good lending marketplace not only works to process your application and disburse your loan funds quickly, but it also helps limit the number of hard inquiries placed on your credit report, which can help your credit score over the long run. With on-time repayments, you can improve your credit profile so loan approvals come even easier the next time you need money.
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