What if you needed money, but your lender just made things worse?
If you have a low credit score or bad credit history, it’s still possible for you to get an instant loan. However, some lenders are better than others. If you’re not careful, you might end up with a lender that is downright predatory!
Which lenders should you turn to when you need money? Keep reading to discover the best lenders you can trust when you need financial help!
In order to pick the best instant loan, you need to understand your credit score and understand the loan itself. That means making sure you understand factors like the APR, the repayment terms, and the seller’s reputation.
A credit score is important because it may determine which loans you can qualify for. Your credit may also determine what kind of APR and repayment terms you are offered.
Both the APR and repayment terms matter if you are borrowing a lot of money and need extra time to pay it off. Keep in mind that payday loans often have very high APRs despite the fact that they must usually be paid back within the next 30 days.
Now that you know more about how to pick the best quick loan, here are some of our favorite lenders when you need instant cash.
Looking for a quick loan that you won’t regret? In that case, Fast Loan Direct may be your best lending choice!
With Fast Loan Direct, you can get a loan ranging from $500 to $35,000, giving you a great deal of flexibility. And depending on the loan, you may have anywhere between 60 days to six years to pay it off.
APR rates are between 5.99% and 35.99% for qualified consumers, with the lower end of that being much better than other quick loan lenders. And these loans are available in all 50 states. Other lenders may be more limited (such as LendingPoint, which isn’t available in Nevada or West Virginia).
Ultimately, Fast Loan Direct provides the best balance of instant cash, low APR, and flexible terms to fit any borrower’s needs.
Avant Personal Loans may be the lender you are looking for, especially if you have bad credit. But to get the most out of this lender, you may need to get a secured loan. That means using something like your car as collateral for the money you are borrowing.
While you can get a non-secured loan through Avant, the APR can get as high as 35.99%. However, if you have good credit and/or if you secure the loan, the APR may be as low as 9.95%.
Depending on the loans you get, you may have anywhere between two to five years to pay everything back. And you can borrow between $2,000 to $35,000.
There is no penalty for paying the loan off early, and you get a 10-day grace period for late payments. You can apply even if your credit score is under 600, and you can pre-qualify for these loans with a “soft” credit check (which means applying won’t affect your credit score).
Upstart provides a solid quick loan option to those who have fair credit (meaning a credit score of at least 600). However, they also take applications from those with no credit history, making them a potentially solid choice for younger borrowers.
The APR ranges from 3.09% to 35.99%, and how low your own APR will be is entirely dependent on credit. You can also borrow between $1,000 and $50,000, which covers a large range of financial needs.
There are no early payment fees, but there is also no grace period for late payment (and you need to beware of those late payment fees). Depending on the loan you get, you may have between three and five years to pay everything back.
While anyone can potentially benefit from Upstart loans, they are arguably best for those with very little credit history. In addition to getting the money you need, getting such a loan can help you to build up your credit score and qualify for better rates in the future.
All of the lenders on our list are good choices if you need a quick loan. But if you need something more like an immediate loan, you may want to go with LendingPoint Personal Loans.
These loans require you have a credit score of at least 580. You can usually get approved the same day you apply, and it’s possible to get your funds by the very next day.
The APR ranges from 7.99% to 35.99%, depending on your credit history. You can borrow between $2,000 to $36,500 and, depending on the loan; you’ll have two to five years to pay everything back.
While LendingPoint always reserves the right to charge late fees, they are not currently doing so. That may make this lender an excellent option for borrowers who are worried about missing the occasional payment because they forget about it.
When you try to get a quick loan, you may notice that different lenders have different strengths and weaknesses. For example, OneMain Financial has a relatively high-interest rate (it ranges from 18.00% to 35.99%). However, this lender provides a great deal of flexibility for borrowers.
OneMain provides loans to borrowers even if they have bad credit. You can borrow between $1,500 to $20,000, and some borrowers enjoy the fact they can take out such a low minimum for more basic financial needs.
There are no early payoff fees. And you can get loans for two years, three years, four years, or five years. This means you can get repayment terms on your own terms!
You can sometimes get approved on the same day and can usually get your money within 1-2 business days. And if you’re worried about credit, the soft credit check to qualify will not affect your credit history.
Now you know some of the best lenders for your instant loan needs. But do you know where you can get the best loans at the click of a button?
Here at Fast Loan Direct, we provide borrowers like you with the best loans and the most competitive rates and terms. To get started, all you have to do is apply today!