Instant cash advances known as payday loans is a common financial solution used by millions of consumers living paycheck to paycheck. It is a fast option for getting cash to help pay necessary expenses.
Using cash advances or payday loans are common for emergencies such as avoiding utility disconnection, paying past due bills, car repairs, or when you are low on cash and need necessities such as groceries.
Payday loan lenders are the answer to fast cash needs when people don’t have a friend or relative that can loan them money. The loans are short-term with amounts up to $1,000. Few will use such loans to avoid late fees and penalties for upcoming bills.
To help consumers make an informed decision when considering payday lenders, we have compiled a list of common payday lenders to help you compare options when considering short-term loan solutions.
Avant specializes in payday loan lending but offers other loan services including debt consolidation, home improvement, and emergency loans. This lender was previously known as AvantCredit, but after rebranding the company additional financial services became available.
Avant offers loans in the amount of $1,000 to $35,000. Such loan amounts make it different from your typical payday lender. Loans are available to consumers with good, bad, and poor credit. Fast cash loans are a service offered similar to payday loans with up to $20,000 available to qualifying borrowers.
Avant makes it easy for borrowers with multiple options and low interests rates. To help borrowers maintain their loan they are prohibited from taking out a second loan until the first is paid in full.
Check ‘n Go
Check ‘n Go is one of the top payday lenders in the United States. Borrowers can apply for a payday loan online or go to a local office. When applying online you have the option of completing the process in person. Approved borrowers can receive up to $1,500.
Applying online is a simple process that includes providing basic information including your name, address, a form of income, and checking account details for direct deposit. If you are approved online you receive a confirmation and date when funds are deposited into your account (which is usually within 24 hours).
If you need money the same day, you can go to a local office and complete the application process in person. You will be approved for a specific amount to borrow based on your ability to repay. You are paid in cash on the spot.
You have the option of paying the loan back in person or letting the lender take funds from your account on the due date. Fees are charged (not interest) for borrowing for every $100 borrowed depending on how long the loan is out.
Founded in Utah, this company has been a payday lending provider for almost 20 years. It is ranked as one of the best online payday lending options for borrowers. The company doesn’t finance loans, but it helps borrowers get connected with compatible lenders based on their personal situation and qualifications.
Cashadvance.com has a network of payday loan providers. Borrowers fill out an online application and receive information about potential lenders upon completion. The information is a list of possible lenders that may offer you a loan. The borrower reviews terms provided by potential lenders and choose which lender to get a loan through.
Approval is learned within minutes and you receive funds within 24 hours. Cashadvance.com is known for helping millions of people get connected with the right lender to secure the loan they need.
Check into Cash
Check into Cash is one of the largest payday lending solutions in the United States. It is also one of the oldest lenders offering payday loans. Based in Cleveland, Tennessee, people have been able to visit a local location to obtain cash loans with ease. The whole process in person takes a few moments and upon approval you walk out the door with cash in hand.
Check into Cash charges loans based on a flat fee that also affects APR. It is known to offer a high rate at roughly 150 percent. Depending on the loan amount and how long the loan is out, the APR can increase much higher. Consumers have the convenience and discretion of going online to apply or going in person when they want cash immediately.
First Choice Capital Resources
First Choice Capital Resources is based in the UK. It is payday loan provider while providing a network of potential short-term loan lenders. The provider offers another loan option that lets borrowers borrow more than the standard amount. There is also an option to help borrowers pay back the loan over time.
Borrowers with bad or poor credit may qualify for a payday loan. This process is short and simple with up to $1,000 available when approved. If you want to borrow more than this amount you may qualify for up to $2,500 or more. An installment option allows borrowers to make payments according to the lender.
The application process is easy to complete online. After completing the application, a list of providers is created based on personal information. You may be referred to a local lender based on your location. When approved you will learn the amount approved for and when funds will be received.
First Choice has a reputation of working with quality top lenders in the industry with competitive interest rates based on lender affiliates.
Upstart offers personal loan solutions for young professionals and students recently graduating college. Upstart is different from competitors since it provides loans to a specific group of individuals with higher approval rates. Recent college graduates are required to provide their GPA and SAT scores along with credit history information. Borrowers save roughly 25% when compared to credit cards with high-interest rates.
Young individuals with no credit may find it easier to get approved for an Upstart loan. Terms of the loan are competitive. Such loans are used to help consolidate credit card debt. Approved loan applications pay funds a day after approval.
SoFi offers personal loans of up to $100,000. Approved borrowers have more flexibility when they need to borrow more than the standard amount capped off by other lenders. Borrowers can use the funds however they wish with an exception. SoFi prohibits loans to be used for educational expenses. Loan eligibility depends on debt-to-income ratio, current employment, and overall ability to repay.
SoFi personal loans are a good option for borrowers seeking a larger amount to borrow. The lender offers loans at lower interest rates than its competitors. SoFi offers a unique feature that includes unemployment insurance. This option protects borrowers if they lose their job. The company values trust in their customers with a rewards program. Customer service is a top priority with borrowers able to phone or email the company when they need assistance. The loan approval process may take some time, but if approved you get a great rate worth the wait.
FreedomPlus is an established personal loan agency offering personal loans based on a number features and qualifications. The company offers quick loan approval and many consumers report they are able to get a loan that matches their need. When applying, borrowers can seek a loan based on interest rate, loan term, and borrowing amount. Such details help set the loan amount you can borrow.
FreedomPlus has established a good reputation as a newer personal loan lending option. The company has references through the Better Business Bureau (BBB) with the Freedom Financial Network as its parent. The company continues to expand services throughout the United States. This is an option worth looking into further if interested in a personal loan.
Some of the lowest APR ranges in the industry are found through Lending Club. The company offers an APR at 4.99% for applicants with good credit. Rates for loans typically fall between 5.99% – 35.89%. Many applicants obtain loans with rates under 25% APR. Loans are often used by borrowers to consolidate high-interest debt. Compared to other lenders, Lending Club can help borrowers save an exceptional amount over time.
Lending Club provides loans to borrowers with excellent or good credit. Applicants are required to have a credit score of 600 or higher to gain approval.
OneMain Financial offers personal loans with flexible terms. The application and approval process is easy and it can be completed online, by phone, or in person. Depending on the customer limits are imposed to keep the loan affordable while the lender assumes the risk.
OneMain Financial is known for having a clean reputation and solid record. Customers have been pleased with their services. Few customers recommend the company to others seeking a personal loan. The company is considered one of the best personal loan providers in the industry.
OneMain Financial has over 800 branches across the United States while being located in 27 states. Customers that reside in a state with a branch live within 25 miles of the closest location with 66% of Americans living close by.
Feel free to share this list of top loans sites with your friends and check out 10 questions to ask before accepting a credit card offer and 10 top mortgage tips.