7 Small Payday Loans Online (Feb. 2024)

Small Payday Loans Online

When you need some extra cash in a hurry, small payday loans online may be able to put money into your bank or credit union account as soon as the next day. These quick loans are available to workers earning verifiable paychecks, regardless of credit score.

Because you arrange these loans online, you avoid a trip to a storefront payday cash loan lender and the possible dangers that entails. Read on to learn about seven online loan product sources available from the comfort and safety of your own home.

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Best Overall Payday Loan Online

Located in Las Vegas, MoneyMutual has been arranging loans online since 2010. The company works with an online payday lender network to provide you with a loan you repay on your next payday. It’s easy to prequalify for a loan product as long as you are 18 or older and earn at least $800 a month.

  • 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

You can connect with online payday lenders by filling out MoneyMutual’s short form, and, if approved, the money can be deposited into your bank account in as little as 24 hours. Read our full review of MoneyMutual for more information.

More Online Payday Loan Networks to Consider

The following six companies can find you a lender offering payday loans or short-term personal loans. All deliver results fast, cost nothing to use, and are available online 24 hours a day.

Also based in Las Vegas, CashUSA arranges personal loans that you repay over the loan term in several affordable installments. You can prequalify online if you earn at least $1,000 a month after taxes.

The lenders on the CashUSA network specialize in helping consumers with bad or limited credit and who have an active checking account and email address.

  • 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.


Overall Rating

Loan Amount Interest Rate Loan Term Loan Example
$250 to $5,000 Varies Varies

See representative example

InstallmentLoans.com of Las Vegas, Nevada, can arrange a quick loan online quickly and conveniently. You can prequalify by demonstrating a reliable income source, such as a job, government benefits, or a pension.

If a lender on this network approves your loan application, the money will arrive in your bank or credit union account as soon as the next business day. Note that this service is not available to residents of New York.

Tampa’s CreditLoan.com arranges small loan offerings for consumers with bad credit. Applying is easy — just fill out the short loan request form to find a direct lender and then complete the lender’s loan application.

You will repay the loan in a set number of equal, fixed installments that fit your monthly payment schedule.

  • 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

Headquartered in Tacoma, Washington, Bad Credit Loans allows you to prequalify for a short-term loan or line of credit even if you have a poor credit history. Founded in 1998, the company’s network includes conventional and Tribal lenders that offer online personal loans to folks with dependable monthly income.

The company’s website offers many expertly written articles about avoiding debt-related scams and predatory lenders.

From its base in Roosevelt, Utah, PersonalLoans.com works with lenders operating in all 50 states. It can arrange quick personal loans for U.S. residents with bad credit who collect at least $500 per month in earnings or benefits.

In addition, PersonalLoans.com can help you find financial services, including credit monitoring, credit repair, and debt relief.

Also headquartered in Utah, CashAdvance.com has arranged payday loans since 1997 through its online payday lender network. These small loan amounts are tied to your paycheck and must be repaid on your next payday, or else they will be rolled over to the following pay period.

CashAdvance requires you earn at least $1,000 per month after taxes to prequalify for a short-term loan.

What Is a Small Payday Loan?

Payday loans are small loan amounts with a short repayment term. You are expected to repay this type of bad credit loan — plus the payday loan fees — on your next pay date, or else roll it over into a new loan with additional interest and fees.

High interest rates are the hallmark of payday loans. You can expect to pay a triple-digit annual percentage rate for a payday loan, which is why you want to avoid rolling these loans over — the longer you take to repay this small personal loan, the greater the chance that you’ll fall into a debt spiral that may lead to bankruptcy.

Many of the reviewed lending networks have small personal loan offerings as an alternative to payday loans. Personal loans carry APRs as high as 36% and are repaid over the loan term in monthly payment installments.

How Do I Apply For a Payday Loan Online?

Online payday loans are designed to respond quickly to your immediate cash needs. You can use the money as an emergency loan when finances are tight. Therefore, the reviewed lending networks have developed streamlined procedures for applying for these quick loans.

Of all the different types of loans, a payday loan may be the easiest loan to get. You can apply for a payday cash advance online through the following steps:

  1. Choose one of the online lending services reviewed in this article by clicking on a START HERE link.
  2. Fill out a preliminary loan request form to see if you prequalify. You should receive a decision instantly.
  3. If you prequalify, you’ll either be automatically transferred to the website of an interested online lender, or you’ll be able to select among multiple competing offers.
  4. Complete the direct lender’s online loan application form, which may be prepopulated with the information from your original loan request.
  5. If a direct lender offers you a loan, review the loan agreement, including the fine print.
  6. E-sign the agreement if you want to accept the loan offer.
  7. The lender will dispatch the loan to your bank account as soon as the next business day. You can use the loan for any purpose.

Be prepared to provide the online lender with your Social Security number, credit card statements, and information about your gross monthly income and paycheck schedule. You may be asked to furnish additional documents, depending on the lender’s requirements.

Can I Still Get a Payday Loan if They’re Illegal in My State?

Some states do not permit payday loans, including Connecticut, Maryland, Massachusetts, Pennsylvania, Vermont, West Virginia, and the District of Columbia. If you live in any of these locations, you’ll have to choose an alternative to a payday loan.

Payday Loan Legality Map

Most of the reviewed lending networks provide personal loans, which are legal in all 50 states.

Applying for a personal installment loan follows the same procedures required for a payday loan, but unlike with a payday loan lender, your credit score may be a factor in the personal loan lender’s decision.

Another option is to obtain a payday alternative loan from a local credit union. This is a type of small dollar loan created to help borrowers avoid predatory lender facilities (usually likened to payday lenders) that they can repay over the course of a few months with a fair annual percentage rate.

How Can I Get a Loan Immediately?

The reviewed lending services can arrange a bad credit loan with instant approval and direct deposit of your money by the next business day. That’s true whether you’re a borrower for a payday cash advance or a personal loan.

You can get money even faster by walking into a payday cash loan store. Folks may be able to leave with their loan proceeds minutes after filling out the paperwork at the payday loan store.

Be aware that many loan stores are located in high-crime neighborhoods, so walking out of the store with several hundred dollars on your person may not be a great idea.

Another place to get an immediate loan is at a pawnshop. These are collateralized loans with high interest rate charges and fees. You’ll forfeit your collateral if you don’t repay your loan by a certain date.

If you have a fully paid car, you can arrange a title loan very quickly. But keep in mind that you can lose your car if you miss a title loan payment.

You can always try to get a loan from friends and family. These may work out well, but they can lead to hard feelings if you don’t honor the repayment term as promised.

How Can I Get Money With No Credit Check?

Providers of personal loans usually do a hard pull of your credit history with at least one credit bureau when considering your loan application. Some of these lenders may disqualify you if you have a score below 600, but others may rely on alternative data.

By contrast, online payday lenders, as a rule, don’t check your credit. While that may make it easier for consumers with bad credit to get a loan, it also means that the loan payments will not be reported to any credit bureau, thereby preventing a payday borrower from boosting their credit score through timely payments.

Example Cost of a No Credit Check Loan

These loans also come with notoriously high interest rates and short repayment terms, as you can see in the above chart. A finance charge is applied to every $100 you borrow from a cash advance loan, which equates to a triple-digit APR.

Compare Small Payday Loans Online

You can compare small payday loans online by reading the details provided by the lending service and direct loan provider. You need to know how much the loan will cost, when it must be repaid, and the finance fees you’ll face if you can’t meet the loan’s repayment term.

When you need a fast loan, consider a personal installment loan as an alternative loan option to a payday advance. Personal loans charge a lower interest rate and are repaid in monthly installments rather than all at once. Most of the reviewed online lending services offer a personal loan option but be aware that a very bad credit score may disqualify you.

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