Best Quick Loans for Fast Cash in 2024

You might get a same-day home improvement loan from LightStream, and it also offers one of the longest repayment terms on the market. Although a long term often means more overall interest, you might find relief through a lower monthly payment.

LightStream doesn’t let you prequalify, so you’ll have to submit to a hard credit pull to check your eligibility. This will probably drop your credit score by a handful of points. LightStream will also only work for major home emergencies, since it has a $5,000 minimum loan amount.

Read our full LightStream personal loan review.

LightStream doesn’t specify its minimum credit score requirements, but you must have good to excellent credit. Some of its other general eligibility guidelines include having:

• At least five years of credit history
• Assets such as savings and retirement accounts
• An acceptable debt-to-income ratio
• An excellent payment history with no delinquencies

With flexible loan options and benefits like free financial planning, SoFi could be an excellent choice if you need a lot of money fast. If SoFi approves you, it’s likely you’ll receive same-day funding. That is, as long as you apply before 7 p.m. EST on a business day and aren’t having SoFi pay your creditors on your behalf on a debt consolidation loan.

SoFi doesn’t have any required fees, but you can pay an optional origination fee for a lower annual percentage rate (APR). Ask for offers that do and do not include this fee. That way, you can find the offer that makes the most sense for you.

Read our full SoFi personal loan review.

Here’s what you need to know about SoFi’s guidelines for loan eligibility:

• Minimum credit score of 680
• Must be employed within 90 days of borrowing or have other form of consistent income
• Must be a U.S. citizen, permanent resident or non-permanent resident with current immigration status
• Must be the age of majority in your state (typically 18)

Rocket Loans verifies your identity, income and bank account electronically. That means you won’t have to worry about uploading documents manually. This might be one of the reasons why it can offer same-day loans.

However, you’ll only have two repayment terms to choose from (36 or 60 months). Also, Rocket Loans might be better suited for those who are working toward (but don’t yet have) excellent credit. At 9.116%, Rocket Loan’s minimum APR isn’t as low as some.

Read our full Rocket Loans personal loan review.

When you apply, Rocket Loans will review factors such as your credit score, monthly income and current debt. You must also be at least 18 and a U.S. resident to qualify. Rocket Loans does not do business in Iowa, Nevada or West Virginia.

Although OneMain Financial’s rates are high, it might be worth it if you have bad credit and need your loan within the hour. If you allow OneMain to send your loan to a prepaid debit card, you could have your funds as soon as an hour after closing. Other options for receiving your money include retrieving a check at a OneMain branch (there are 1,300+ of them) during the loan closing or getting direct deposit (if you can wait up to two business days).

But paying off your loan early with OneMain Financial is not likely to save you money. It uses the precomputed interest model. This means your interest is based on your total loan amount and then added to your payments at the start of your loan.

Under a simple interest model (the most common type), interest accrues on your loan balance. In other words, your overall interest due goes down as you pay back your loan.

Read our full OneMain Financial personal loan review.

When you apply for a loan from OneMain Financial, it will ask for:

• A valid government-issued ID
• Your Social Security card
• Proof of residence, such as your driver’s license (if your address is up to date) or a utility bill
• Proof of income, like pay stubs or tax returns

OneMain Financial doesn’t specify its minimum credit score requirements, but you can check your eligibility by prequalifying online.

Like Upgrade, Upstart is a lending platform that uses AI to determine your creditworthiness. It considers not only your credit score but also your education and employment status. Upstart may even approve you if you have bad or no credit.

Upstart personal loans come with limited loan terms to choose from: 36 or 60 months. And if Upstart approves you with bad credit, you might be responsible for a whopping origination fee (0.00% - 12.00%).

Read our full Upstart personal loan review.

Here’s what you’ll need to qualify for an Upstart loan:

• Minimum credit score of 300
• If you don’t have a credit score, you must have at least an associate’s degree (or be enrolled in an associate’s degree program or higher)
• No adverse changes in your credit report from the time Upstart approves you to when it disburses your funds
• No bankruptcies within 12 months
• No currently delinquencies
• Fewer than six inquiries on your credit report (not including student loans, car loans or mortgages)
• Debt-to-income ratio of less than 50% (45% in Connecticut, Maryland, New York or Vermont)

LendingTree users have given Discover a 97% satisfaction rating. Also, it offers three repayment assistance options if you’re having trouble keeping up with your payments.

If you know your payment will be late, it’s important you contact Discover as soon as possible. Otherwise, it may charge you a $39 late fee. Additionally, Discover’s minimum credit score requirement is steep. You must have good to excellent credit to qualify.

Read our full Discover personal loan review.

Discover’s eligibility requirements are clear. At minimum, you must meet the qualifications below to be eligible:

• Have a credit score of at least 720
• Have a Social Security number
• Be at least 18 years old
• Have a physical address, valid email address and internet access
• Bring in $40,000 or more in annual income (individually or as a household)

LendingPoint offers small loans between $1,000 and $36,500, and you don’t necessarily need perfect credit to qualify. It uses AI to more holistically review your credit profile. This can help it better predict whether you can keep up on your loan payments.

That said, you’ll have to qualify for a LendingPoint online loan on your own merit. It doesn’t allow cosigners or co-borrowers.

Read our full LendingPoint personal loan review.

LendingPoint requires you to have a credit score of at least 660 to qualify for a personal loan. Additionally, you must:

• Be 18 years old or older
• Have a Social Security number and government-issued ID
• Earn at least $35,000 a year in income
• Have a verifiable personal bank account in your name
• Not live in Nevada or West Virginia

Joint loans can help you qualify for a lender when it would otherwise deny you. You could also boost your odds of loan approval by offering collateral and taking out a secured loan. Online lending platform Upgrade allows both options (note that these strategies can slow down the funding process, but more on that later).

One thing to keep in mind is Upgrade’s origination fee. Some lenders only charge this to low-credit borrowers, but Upgrade tacks one on to every loan.

Read our full Upgrade personal loan review.

Other than Upgrade’s credit-related requirements, here are some of this lender’s general eligibility guidelines:

• You must be the age of majority in your state (typically 18)
• You must be a U.S. citizen or permanent resident or have a valid visa
• You must have a valid email address and verifiable bank account

If you need a midsize loan and you have fair credit, Avant could be a solution. Avant only requires a credit score of 580. You can also prequalify for a personal loan to check how likely it is that Avant will approve you. This can help you protect your credit score as you strive to improve it.

If you have strong credit, you might want to check with another lender. Avant’s minimum APR is a bit high.

Read our full Avant personal loan review.

With Avant, you can verify your identity electronically, but it may ask you to provide:

• Bank statements for a personal checking account
• Pay stubs dated within 30 days of your application
• Your employer’s information (it may call to confirm employment)

Additionally, Avant personal loans are not available in the following states:

• Colorado, Hawaii, Iowa, Maine, Massachusetts, New York, Vermont, Washington and West Virginia