Need a Loan Quick? Here’s How to Get Fast Cash

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Updated on Monday, January 21, 2019

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When an emergency strikes, every hour spent waiting on a loan to come through can feel like an eternity. After all, you could be facing serious consequences if the money doesn’t arrive soon enough.

Perhaps you need a loan to repair your car otherwise you’ll risk missing too much work and losing your job. Maybe you have to fix a leaky roof before it leads to more damage. Or, you might need a little extra money to help you cover your bills (and avoid paying late fees) until your next payday.

No matter the reasons, there are options that offer fast funding, high loan amounts and low rates.

How to get the money you need now

One of the easiest ways to quickly get a loan is to apply for an online personal loan. You can use the money for almost anything and personal loans are generally unsecured, which means you don’t need to put up collateral and risk losing your vehicle, home or other possessions if you can’t repay the loan. However, that also means you may need good credit to qualify for the best offers.

Below we’ve listed several online lenders that can offer you fast funding.

Loans in 1-2 business days

Best Egg: Best Egg says about half of its borrowers receive their loan by the next business day. While you need a 640 credit score to qualify for the lowest rate, you can get approved with a lower score.

Start an application with a soft credit check, which will show you your rate without hurting your credit. If you qualify, you can borrow $2,000 to $35,000 with a 5.99% to 29.99% APR and 0.99% - 6.99% origination fee. Choose from 36 or 60 month terms, or repay the loan early at any time without a prepayment penalty.

APR

5.99%
To
29.99%

Credit Req.

640

Minimum Credit Score

Terms

36 or 60

months

Origination Fee

0.99% - 6.99%

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

People looking for a process that is fast and straightforward can’t go wrong when applying through Best Egg for a personal loan. ... Read More


The Annual Percentage Rate (APR) is the cost of credit as a yearly rate and ranges from 5.99% to 29.99%, which may include an origination fee from 0.99% - 6.99% that is deducted from loan proceeds. Any origination fee on a loan term 4-years or longer will be at least 4.99%. The loan term and the APR offered will depend on your credit score, income, debt payment obligations, loan amount, credit usage history and other factors. Additionally, the APR offered is impacted by your loan term and may be higher than our lowest advertised rate. Requests for the highest loan amount may result in an APR higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest rate.

Best Egg loans are unsecured personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC. Equal Housing Lender. "Best Egg" is a trademark of Marlette Funding, LLC. All uses of "Best Egg" on this site mean and shall refer to "the Best Egg personal loan" and/or "Best Egg on behalf of Cross River Bank, as originator of the Best Egg personal loan," as applicable. Loan amounts generally range from $2,000-$35,000. Offers up to $50,000 may be available. Residents of Massachusetts have a minimum loan amount of $6,500; New Mexico and Ohio, $5,000; and Georgia, $3,000. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $50,000. Borrowers should refer to their loan agreement for specific terms and conditions. Your verifiable income must support your ability to repay your loan. Upon loan funding, the timing of available funds may vary depending upon your bank's policies.

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.

Avant: You can borrow $2,000 to $35,000 with Avant, which offers loans with a 9.95% to 35.99% APR and 24 to 60 month term. You can check your eligibility and offer with a soft pull before submitting an application. You may have to pay an up to 4.75% administrative fee, which is similar to an origination fee. Avant says funding time depends on your bank, but the money is generally deposited by the next business day.

APR

9.95%
To
35.99%*

Credit Req.

600

Minimum Credit Score

Terms

24 to 60**

months

Origination Fee

Up to 4.75%**

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

Avant is an online lender that offers personal loans ranging from $2,000 to $35,000. ... Read More


*If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state.
**Example: A $5,900 loan with an administration fee of 4.75% and an amount financed of $5,619.75, repayable in 36 monthly installments, with an APR of 29.95% would have monthly payments of $250.30.

Based on the responses from 11,574 customers in a survey of 210,584 newly funded customers, conducted from 1 Feb 2018 - 1 Aug 2019 95.05% of customers stated that they were either extremely satisfied or satisfied with Avant. 4/5 Customers would recommend us. Avant branded credit products are issued by WebBank, member FDIC.

RocketLoans: Depending on which bank you use, a RocketLoans personal loan could zoom into your account the same day you’re approved. You can borrow $2,000 to $45,000 with a 7.16% to 29.99% APR and 36 or 60 month term. There is a 1.00% - 6.00% origination fee, but no prepayment fee, and you can check your rate with a soft pull.

APR

7.16%
To
29.99%

Credit Req.

640

Minimum Credit Score

Terms

36 or 60

months

Origination Fee

1.00% - 6.00%

SEE OFFERS Secured

on LendingTree’s secure website

Rocketloans is a digital finance business that is part of the Quicken Loans family. ... Read More

Loans within a week

SoFi: You don’t need to worry about origination or prepayment penalties with a SoFi personal loan. Check to see if you qualify with a soft credit pull, then apply to borrow $5,000 to $100,000. Fixed APRs range from 5.99% to 18.53% APR and loans have a 24 to 84 month term. SoFi says loans are generally available within a few days of signing your electronic loan agreement.

SoFi
APR

5.99%
To
18.53%*

Credit Req.

680

Minimum Credit Score

Terms

24 to 84

months

Origination Fee

No origination fee

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

SoFi offers some of the best rates and terms on the market. ... Read More


Fixed rates from 5.99% APR to 18.53% APR (with AutoPay). SoFi rate ranges are current as of September 18, 2020 and are subject to change without notice. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

Upgrade: You can borrow as little as $1,000 and as much as $35,000 from Upgrade. The loans have a 2.90% - 8.00% origination fee, 36 or 60 month term and 7.99% to 35.97% APR, although you can check your rate with a soft pull. Once you’re approved, you’ll receive the money within four business days, although some loans are funded within one business day.

Upgrade
APR

7.99%
To
35.97%

Credit Req.

620

Minimum Credit Score

Terms

36 or 60

months

Origination Fee

2.90% - 8.00%

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

Upgrade is an online lender that offers fairly priced personal loans for a term of either 36 or 60 months.... Read More


Personal loans made through Upgrade feature APRs of 7.99%-35.97%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds should be available within four (4) business days. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor. Personal loans issued by Upgrade's lending partners. Information on Upgrade's lending partners can be found at https://www.upgrade.com/lending-partners/.

Marcus by Goldman Sachs®: Another option with a soft credit preapproval and without an origination fee, Marcus by Goldman Sachs lends $3,500 to $40,000 personal loans with a 6.99% to 19.99% APR and terms ranging from 36 to 72 months. While you can apply with a paper application, the online route is much faster. Funding takes one to four business days once Marcus approves your application and verifies your bank account.

Marcus by Goldman Sachs®
APR

6.99%
To
19.99%

Credit Req.

Not specified

Terms

36 to 72

months

Origination Fee

No origination fee

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

Marcus by Goldman Sachs® offers personal loans for up to $40,000 for debt consolidation and credit consolidation. ... Read More


Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions.

Other options for fast cash

If you compared online personal loans and don’t think you’ll qualify, or maybe you want to minimize how much you’ll pay in interest or fees, consider these alternatives.

Friends and family: Asking a friend or family member to borrow money could be the easiest way to get a quick loan. They know you well and won’t have to check your credit, and they might even offer you an interest-free loan. But it’s also a risky proposition. The relationship could be damaged if problems arise and you’re unable to repay the money.

An advance from your employer: You may be able to ask your manager or human resources department for a short-term loan. Some companies have clear policies and will let you borrow money and repay the loan over time, or let you borrow money if you repay the loan in full from your next paycheck. Depending on where you work, you may have to pay a fee for the advance.

Apps that give you access to part of your paycheck: Several companies are trying to help workers who need quick cash by offering them access to money they’ve earned from working before their payday. Most of these require companies to sign up and then offer the service as an employee benefit. But you can sign up for some, such as Earnin, on your own.

Credit cards: Credit cards can be a good option in an emergency, but they also tend to charge more interest than personal loans and there are often extra fees if you need a cash advance. You can plan to pay off the balance quickly, or you can qualify for a no-interest promotional offer. But if you’re only able to afford the minimum payments, you might wind up paying high-interest credit card debt for years.

Should you consider these quick loan options?

While you want to move quickly during an emergency, acting too hastily could be a costly mistake.

Some types of quick loans, particularly those that don’t require a credit check, have outrageously high-interest rates that can make them difficult to repay. You may find yourself stuck in debt, taking out one loan to pay off another, while fees and interest continue to accrue.

Payday loans: Payday loans are short-term loans that are secured by a post-dated check or by giving the lender access to pull money from your bank account. Rates and loan amounts vary by lender and state law, but you can generally borrow up to $500 and have 14 to 28 days to repay the loan.

In exchange for funds, you’ll pay a fee, which is often taken out of your loan amount. For example, you may write a check for $200 that’s dated for 14 days from today and receive a $170 loan if there’s a 15% fee. That comes out to be an APR of nearly 400%. By comparison, high-rate personal loans have a 36% APR.

High-rate installment loans: High-rate installment loans have emerged as an alternative for those with poor credit. Although the long repayment terms can make installment loans easier to manage and they’re generally less expensive than payday loans, the high-interest rate and fees still make these a very costly option.

Pawnshop loans: If you own something of value, such as a power tool or jewelry, you might be able to get a pawnshop loan without a credit check. The loan amount is based on how much your item is worth when you give it to the pawnshop.

Generally, you have 30 to 90 days to repay the loan (plus interest and fees) and get your item back. If you don’t repay the loan, the pawnshop gets to keep whatever you used and collateral and sell it. States regulate how much pawnshops can charge, but the interest, fees and short term could make this a difficult loan to repay.

Car title loans: A car title loan, or auto title loan, lets you quickly borrow money using a vehicle as collateral. The maximum loan amount will vary based on how much your vehicle is worth. The Federal Trade Commission says car title loans often have a 15- or 30-day term and triple-digit APR, which makes them a very expensive option. While you might not need great credit to qualify, you risk losing your vehicle if you can’t repay the loan, so think carefully before taking out an auto title loan.

Payday alternative loans: It has payday in the title, but a payday alternative loan might actually be a decent, low-cost option. Offered by some nonprofit credit unions, payday alternative loans are small loans ($200 to $1,000) that have one- to six-month terms. However, this isn’t a quick option if you aren’t already a member of a credit union, because you must be a member for at least one month before you’re eligible for PAL.

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