Written by: Adam West
Edited by: Lillian Guevara-Castro
With so many people looking for quick loans with same-day approval, you’d think it would be common knowledge where you can find the personal loan you need.
Many consumers still think a bank or credit union is the only place to get a loan. But we’re here to tell you that there are so many options for you to get the installment loan or cash advance you need without risking your financial health along the way.
And there aren’t many options as quick as those listed below. In most cases, you can submit a loan request in five minutes or less and have a credit decision shortly after — and never have to leave your house during the process.
Quick Same-Day Loans For Bad Credit
These networks have your back if you need an emergency loan with quick funding. Your single loan request is forwarded to all of the network’s partner lenders that you qualify to work with. Depending on the network, you may receive multiple loan offers to choose from that will pay out your loan by the next business day.
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 offers one of the largest direct lender networks on the internet. That improves your chances of loan approval and increases competition for your business. Your short loan request may yield more than one loan offer — each with a unique interest rate, loan term, and monthly payment.
This network has a lower maximum loan amount, but every lender on the network specializes in short-term loan products for consumers who have fair credit or bad credit.
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 |
You can qualify for a fast loan from CashUSA.com that puts cash in your bank account by the next business day. This network offers larger potential loan amounts than other lender networks on this list, but not everyone will qualify for the largest installment loan option.
You can apply for a bad credit loan any time of the day or night and begin the loan approval process immediately. Your online lender will sign off and complete your loan agreement during normal business hours.
- 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 |
The lenders that partner with InstallmentLoans.com offer both online payday loan and personal loan options for consumers. Your loan type and loan offer will depend on several factors, including the information obtained from your credit check.
Whether you qualify for a secured loan or an unsecured loan, you’ll get quick cash, with money deposited into your credit union or bank account by the next business day.
- 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 offers same-day loan options that pay out fast cash to all borrowers. Since this network also specializes in bad credit loan products, the lender you work with can often shape your loan repayment term and monthly payment to meet your budgeting needs.
CreditLoan also offers bad credit payday loans for as little as $250. Always be sure to read the terms and conditions for any loan offer you receive so you know the interest rate you’re agreeing to.
- 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 |
BadCreditLoans.com offers a simple way to improve your credit score while accessing the quick cash you need. Not only can this network find a bad credit loan for you, but you can use the short-term loan to improve your credit score with on-time payments.
Just be sure to submit all of your payments on or before the due date. One single late payment on your credit history can sink your score.
- 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 |
PersonalLoans.com offers fast cash loans that can be deposited into your bank account in less than 24 hours. These loans have flexible acceptance standards and won’t ignore you based on a bad credit score.
In fact, this network has a dedicated group of lenders that only work with consumers who have fair credit or bad credit. That makes it easier and faster to find the emergency loan you need.
- 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 |
CashAdvance.com specializes in bad credit payday loans. Just remember that a cash advance loan — or an online payday loan — will come with very large fees.
And unlike an installment loan, you’ll have to pay the entire loan back, including interest, usually within 15 to 30 days. If you submit a late payment, you could increase your debt dramatically due to rollover fees and interest. Only accept an emergency payday loan if you know you can repay the debt as agreed.
How Do I Apply For a Same-Day Loan Online?
The easiest way to get a quick loan with same-day approval is to apply online. Bank loans usually take days for approval and only approve applicants with fair or better credit.
The online lending companies we recommend above have partnerships with a large direct lender network that specializes in fast cash loans with quick approvals. The loan request process takes less than five minutes to complete and won’t harm your credit score. You can submit a request at any time of the day or night and receive a credit decision within seconds.
An email you receive from the network may contain multiple loan offers to choose from. If you find one you like, you can accept the terms and complete the loan documents on the lender’s website.
Once that’s done, the lender will deposit your money, and it will appear in your bank account by the next business day. There’s no minimum credit score requirement, but you will need to prove an income of at least $800 a month to qualify for a loan.
How Long Does It Take to Get an Online Loan?
There are many different types of online loans you can apply for. The time it takes to get a personal loan, an emergency payday loan, or a title loan (a secured loan based on your vehicle’s title) will differ based on the loan type.
Since we’re focusing on personal loans today, we’ll look at the time frame for those options.
Although you can apply for an online loan at any time, you can close your loan faster if you apply early on a regular business day. That’s because the lender has to sign off on your loan documents to seal the deal. That may not happen after hours, on the weekend, or during holidays.
Here’s a breakdown of how long you can expect the online personal loan application process to take:
- Initial loan request: This takes less than five minutes to complete and won’t harm your credit score with an inquiry.
- Loan offer: You’ll receive an email from the network shortly after submitting your application. This will contain your credit decision, and any potential loan offers you may receive.
- Loan approval: If you find a loan offer you like, you can click a link in the email to accept the loan term. That will direct you to the lender’s official website. The first three steps can all happen in less than 10 minutes.
- Loan agreement: Once you’re on the lender’s website, you’ll submit to a credit check and complete the loan agreement.
- Loan funding: Once you finalize the paperwork, the lender will deposit your money, and you should see it in your bank account by the next business day.
Some personal loans can go from application to funding in less than two hours. Just make sure you time your application right so you’re not stuck waiting for your loan.
How Much Can I Borrow From An Online Lender?
Every online lending network has different minimum and maximum loan amounts available to each borrower. Not everyone will qualify for the maximum loan amount.
Most networks have minimums that start between $250 and $500. Maximums will vary and could be as low as $2,500 or as much as $10,000. Check the offer boxes with each network listed above to get an idea of the minimum and maximum allowed by that network.
Can I Have More Than One Online Loan at a Time?
There’s no rule that limits how many loans you can have at one time. Many consumers have multiple active loans. These can include an auto loan, a home loan, a student loan, a personal loan, or any other type of loan.
But some online lending networks limit how many active loans you can have from its lenders.
MoneyMutual, for example, limits you to one loan at a time from its network. Once you repay your current loan, you’re free to apply for a new loan. That won’t stop you from receiving a loan from one network and later getting a loan from another network.
Be sure to read the rules that dictate multiple loan eligibility from a network before you apply.
How Can I Use The Money From An Online Lender?
If you receive a personal loan, you can use the borrowed funds in any way that you choose.
That’s why personal loans are a popular financial tool. They provide flexibility and affordability through monthly installment payments.
Not every loan allows such freedom. You can’t use an auto loan, for example, to pay off medical bills. And a home loan won’t cover tuition expenses.
But you can use the funds from a personal loan to pay one or more bills or expenses or fund a large purchase or even a vacation.
Apply For Quick Loans With Same-Day Approvals At Any Time
People typically don’t borrow money for an expense that may come at some point. When consumers submit a loan application, it’s usually because they need money now.
So why would you apply to a lender that could take days to review your application? If you need instant loans, the lending networks above offer quick loans with same-day approvals. This puts money in your bank account by the next business day, and helps you get back to the things that matter most in your life.
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