Best Quick Loans for Fast Cash in 2024

You could get up to $50,000 today with these fast loans

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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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Written by Amanda Push and Carol Pope | Edited by Jessica Sain-Baird | Updated May 29, 2024

Alliant: Best for borrower protections

Same day

Starting at 10.99%

$1,000 - $100,000

12 to 60 months

Not specified

Pros

  • Could cancel remaining loan balance in case of death, disability or unemployment with Debt Protection plan
  • Loan Assistance program offers reduced interest rates and monthly payments during times of financial hardship
  • Competitive APRs

Cons

  • Must pay a monthly fee for Debt Protection plans
  • Unclear eligibility requirements
  • Must be a member for at least 90 days before getting a loan

What to know

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One of the biggest perks of getting a loan through Alliant Credit Union is its Debt Protection plan. These plans protect borrowers in the case of death, disability or involuntary unemployment. Because this lender is a credit union, borrower interest rates never go above 18%.

However, you must join Alliance Credit Union to take out a personal loan. To join, you must be affiliated with a partner employer or organization. Membership is also open to those related to current members or those who live in certain Chicago communities. If you don’t meet these requirements, you will have to join the Foster Care to Success (FC2S) program. Fortunately, Alliant will pay your $5 FC2S membership fee.

How to qualify

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Alliant Credit Union doesn’t specify its eligibility criteria. However, it considers your credit score, debt-to-income ratio and income. You must also be an Alliant Credit Union member for at least 90 days before getting a loan.

Avant: Best for low-credit borrowers

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Next day

9.95% - 35.99%

24 to 60 months

$2,000 - $35,000

580

Pros

  • Low minimum credit score requirement
  • Origination fee lower than some competitors
  • Short minimum loan term

Cons

  • Charges an origination fee
  • No cosigner options
  • Not available in all states

What to know

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If you have an excellent credit score, you might find lower rates elsewhere. But if you’re having trouble getting a personal loan with fair credit, Avant may approve you. You can prequalify for a personal loan to check your eligibility with Avant without damaging your credit score.

Note that Avant charges an origination fee that’s on the higher end.

Read our full Avant personal loan review.

How to qualify

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Besides a minimum credit score of 580, Avant doesn’t share many eligibility criteria details. Like most personal loan lenders, Avant may evaluate a consumer’s credit history, income and debt-to-income ratio.

Avant personal loans are not available in the following states:

  • Hawaii
  • Iowa
  • Maine
  • Massachusetts
  • New York
  • Vermont
  • West Virginia

Discover Personal Loans: Best for excellent customer service

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Next day

7.99% - 24.99%

36 to 84 months

$2,500 - $40,000

720

Pros

  • 97% customer satisfaction rating from LendingTree users
  • Multiple repayment assistance options in case of financial hardship
  • No origination fees

Cons

  • $39 late payment fee
  • No cosigners
  • Need at least good credit to qualify

What to know

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If you’re looking for a lender with excellent customer service, you may want to consider Discover. LendingTree users have given Discover a 97% satisfaction rating. It also offers three repayment assistance options if you’re having trouble keeping up with your payments.

If you know your payment will be late, however, 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.

How to qualify

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Unlike some lenders, 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
  • Bring in $40,000 or more in annual income (individually or as a household)
  • Have a physical address, valid email address and Internet access

LendingPoint: Best for small loans

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Next day

7.99% - 35.99%

24 to 72 months

$1,000 - $36,500

660

Pros

  • Clear eligibility criteria
  • Considers more than just your credit score
  • Loan terms longer than some

Cons

  • No cosigners
  • Potential for high origination fees
  • High maximum APR

What to know

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Aside from offering funding for consumers looking for small loans, you don’t necessarily need perfect credit to qualify. LendingPoint also provides flexible repayment terms to borrowers.

However, you might have to pay an origination fee (Up to 10%). This lender also doesn’t offer the option to apply for a personal loan with a cosigner.

Read our full LendingPoint personal loan review.

How to qualify

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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

LightStream: Best for home improvement loans

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Same day

7.49% - 21.94% (with autopay)

24 to 240 months

$5,000 - $100,000

Not specified

Pros

  • No fees
  • Extra long loan terms
  • Large loan amounts

Cons

  • Cannot prequalify
  • High minimum loan amount
  • Only approves good-to-excellent credit

What to know

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Time is of the essence with home improvement emergencies. 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 results in more interest, it could provide some relief in the form of lower monthly payments.

Unfortunately, you’ll have to submit to a hard credit pull to check your eligibility. LightStream does not have a prequalification process. The lender doesn’t disclose its exact credit requirements, but it only approves borrowers with good-to-excellent credit.

Read our full LightStream personal loan review.

How to qualify

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LightStream isn’t entirely clear about its eligibility requirements. Generally, it tends to approve those with:

  • 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

Rocket Loans: Best for mid-sized purchases

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Same day

9.116% - 29.99% (with autopay)

36 or 60 months

$2,000 - $45,000

640

Pros

  • Competitive APRs
  • Offers autopay discount
  • Verifies income, employment and bank account information electronically during application process

Cons

  • Limited loan terms
  • $15 per occurrence late payment fee
  • Charges an origination fee

What to know

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On top of quick funding, Rocket Loans offers an APR discount if you sign up for autopay. And although its minimum APR isn’t the lowest, its maximum APR is more competitive than some.

However, you’ll only have two repayment terms to choose from (36 or 60 months). You may also have to shell out an origination fee.

Read our full Rocket Loans personal loan review.

How to qualify

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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.

SoFi: Best for large loans

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Same day

8.99% - 29.99% (with discounts)

Pricing Disclosure

Fixed rates from 8.99% APR to 29.99% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive. Autopay: 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. Autopay is not required to receive a loan from SoFi. Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.

24 to 84 months

$5,000 - $100,000

680

Pros

  • Complimentary financial planning available
  • No late payment fees
  • Competitive APRs with multiple discount opportunities

Cons

  • Origination fee required for lowest APRs
  • High minimum loan amount
  • Need good credit to qualify

What to know

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With large loan amounts and competitive rates, SoFi could be an excellent choice if you need a lot of money fast. If SoFi approves you, it’s likely you’ll receive your loan the same day you apply. That is, as long as you apply before 7 p.m. EST on a business day, and aren’t getting a debt consolidation loan.

SoFi doesn’t have any required fees, but you can pay an optional origination fee for a lower APR. At 680, its minimum credit score requirement is also higher than some.

Read our full SoFi personal loan review.

How to qualify

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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

Upgrade: Best for joint loans

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Next day

8.49% - 35.99% (with discounts)

24 to 84 months

$1,000 - $50,000

580

Pros

  • Allows joint applications
  • Accepts fair credit
  • Secured loans available

Cons

  • Mandatory origination fee
  • High maximum APR
  • $10 late payment fee

What to know

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This online lending platform provides the option of taking out a joint loan or a secured loan if you don’t have great credit. But even if you don’t want to add a co-borrower or put your car up as collateral, you may still qualify. Upgrade’s minimum credit score requirement is just 580.

You should know that Upgrade’s loans come with an origination fee between 1.85% - 9.99%. And if you do qualify with fair credit, your APR could be as high as 35.99%.

Read our full Upgrade personal loan review.

How to qualify

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Other than a minimum credit score of 580, Upgrade doesn’t clarify many of its personal loan eligibility requirements. It will, however, examine factors such as your credit history and credit utilization ratio. You must also:

  • Be the age of majority in your state
  • Be a U.S. citizen, permanent resident or have a valid visa
  • Have a valid email address and verifiable bank account

Upstart: Best for thin or no credit

(16,527)
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Next day

7.80% - 35.99%

36 and 60 months

$1,000 - $50,000

300

Pros

  • One of the lowest minimum credit requirements around
  • Flexible loan amounts
  • Ultra-competitive minimum APR

Cons

  • Higher-than-average maximum origination fee
  • Only two term lengths
  • No co-applicants

What to know

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Upstart is a lending platform that uses artificial intelligence to determine your creditworthiness. It not only considers 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 and 60 months. You might also be responsible for a whopping 0.00% - 12.00% origination fee.

Read our full Upstart personal loan review.

How to qualify

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Upstart offers quite a bit of insight into its loan eligibility requirements. Here’s what you’ll need to qualify for an Upstart loan:

  • Minimum credit score of 300, but may approve you if you don’t have sufficient history to produce a credit score
  • No adverse changes in your credit report from the time Upstart approves you and when it disburses your funds
  • No bankruptcies within 12 months
  • No currently delinquencies
  • Less 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)

What is a quick loan?

A quick loan is simply a personal loan with a fast funding timeline. While the definition of a fast funding timeline can vary, we consider this to be same-day or next-day funding.

When a lender approves you for a personal loan, it will send your funds as a lump sum (minus an origination fee, if applicable). Then, you’ll pay back your loan in monthly installments, plus interest.

There are plenty of reasons you might need a quick loan. You can use your funds for almost anything, but borrowers often take out a quick loan to pay for emergencies. These could include:

  • Car repairs
  • Home improvements
  • Sudden and essential travel
  • Funeral costs
  • Vet bills
  • Dental emergencies

How to speed up the loan process

In many ways, you’re at the mercy of your lender regarding when you’ll get your loan. But there are a few things you can do that might expedite the funding process.

Target online lenders

Getting an online loan can be quick and convenient. You don’t need to schedule an appointment or leave the comfort of your own home. Many online lenders also specialize same- or next-day loan funding.

You can compare up to five lenders at once on LendingTree’s personal loan marketplace. See what rates you could qualify for today. Checking rates won’t affect your credit score.

Pay attention to approval and funding timelines

Although some lenders offer quick loans, not all do. Review your potential lender’s approval and funding timelines before applying. You can usually find this on the lender’s homepage or by combing through its FAQs. If you’re going with a brick-and-mortar lender, ask the loan officer for more details.

Apply before noon on a business day

Even if a lender advertises same-day funding, this typically depends on when you apply for your loan.

SoFi, for instance, states that the majority of their applicants receive their loans the same day they apply, but only if they do so before 7 p.m. EST on a business day. LightStream also advertises same-day loans, but only if you complete the verification process by 2:30 p.m. EST on a business day.

Gather documents in advance

Every lender has a different application process, but generally, you’ll need to provide bank and tax statements, W2s and your government-issued ID.

You might be able to confirm this information through an electronic verification system. Still, have this information handy in case you need to send copies by email or fax.

Take time on your paperwork

When you’re in a hurry, it can sometimes pay to slow down. Fill out your loan application carefully. Mistakes can cause delays in your loan disbursement. For example, Discover mentions that errors or typos on your application can cause a delayed disbursement.

Consider direct deposit

You might have a choice between getting your loan as a paper check or as a direct deposit. Opt for direct deposit to get your funds faster.

What could slow down the loan process

Some aspects of your borrowing profile or loan application can make loan approval take more time, including:

Having challenged credit

When you apply for a loan, a loan underwriter or AI program will determine your creditworthiness. Each lender has its own guidelines, but it will generally review factors like your credit score, debt-to-income ratio and payment history.

If you have a checkered financial history, the lender will have more to review. This could mean the lender will need more time to make an approval decision.

Being self-employed

Being self-employed doesn’t necessarily mean you can’t get a personal loan. You may, however, have to submit extra documents that don’t apply to a borrower with a traditional job. These could include profit and loss statements, business and personal tax returns.

In short, the lender will scrutinize your business to make sure you’ll be able to pay back your loan.

Adding a co-signer

If you have bad credit, adding a co-signer can boost your personal loan approval odds. But including a co-signer means the lender will have a second person to underwrite, possibly increasing the time it needs to make a decision.

Quick loans for bad credit

Getting a personal loan if you have bad credit can be a challenge. Some lenders may deny your application. You may only qualify for high APRs with others, sometimes as much as 36%.

However, there are plenty of trustworthy personal loan lenders that provide bad credit loans on a fast timeline. Avant and Upstart, for instance, have low minimum credit score requirements and can provide next-day funds.

If you’re worried about qualifying for a personal loan or getting stuck with high rates, consider applying for a loan with a cosigner or getting a secured loan.

As mentioned, cosigned (and joint loans) allow you to apply for a loan with a second person, helping you qualify for lower rates.

Secured loans require you to put down collateral, such as a savings account or vehicle. Lenders are sometimes more willing to approve borrowers who put up collateral. If you don’t pay back your loan, the lender can recoup some of its losses through repossession.

Keep in mind these routes may add some extra time to the application and approval process.

Quick loans to avoid

Needing extra cash fast can make you feel desperate. Bad actors realize this, and you might find yourself faced with a predatory lender of the likes below:

Payday loans

If you need money fast, payday lenders can seem enticing. They promise quick cash without a credit check. However, payday loans are a bad option. They’re expensive and can trap borrowers in a cycle of debt.

Payday loan fees can equate to an APR as high as 400%. What’s more, these loans have excessively short terms (one to two weeks). These short terms could force you to roll your loan over into a new one if you can’t pay on time.

For more details, compare personal loans vs. payday loans.

Pawn shop loans

Like payday loans, pawn shop loans don’t require credit checks. They are also risky and come at a high cost.

A pawn shop loan requires collateral (such as electronics or jewelry) in exchange for the loan. The amount of the loan is typically much less than what your collateral is worth. If you don’t repay your loan, the pawn shop will likely keep your collateral to offset its loss.

Car title loans

Car title loans and pawn shop loans are similar in that they both require collateral. In the case of a car title loan, it’s your car.

Car title loans come with high interest rates, often reaching triple digits. They can also carry additional, sky-high fees. Repayment terms are generally 15 days to one year, and your loan may only equate to 25% to 50% of your vehicle’s value. If you don’t repay, the lender can repossess your vehicle.

Alternatives to quick loans

Quick loans can be a lifesaver, but they aren’t the best choice for everyone. If you don’t want (or qualify for) a personal loan, explore these alternatives.

Credit cards

Credit cards can be useful for quickly accessing funds. As opposed to the lump sum of a personal loan, credit cards offer a line of credit from which you can draw at will.

Credit cards give you a predetermined limit to spend, and you’re only responsible for interest on the amount of credit you use. Unlike personal loans, credit cards may come with variable interest rates. This means that your interest rates may change from month to month depending on the market.

Some credit cards come with a 0% intro APR period. If you pay off your charges before the intro period is over, you could avoid interest altogether.

Paycheck advance app

Paycheck advance apps let you borrow money from your upcoming paycheck. In many cases, these apps don’t require a credit check and don’t charge interest. However, some may charge a membership fee or ask for a voluntary tip.

Paycheck advance apps may also have eligibility requirements. These could include a regular pay schedule and receiving your paycheck via direct deposit. These apps offer small-dollar loans, which could be helpful if you’re struggling to make it through the week.

Friends and family

Borrowing from loved ones presents unique challenges, but it may save you on interest and fees.

It’s wise to take precautions when taking a loan from a friend or family member. To avoid a damaged relationship, set up rates and terms ahead of time. You could even write up a legal contract that both parties sign.

Hardship programs

If you need help paying a loan or utility bill, see if you’re eligible for a financial hardship program. Hardship programs may include forbearance (or a pause on your payments), loan modification, temporary APR reductions or fee waivers.

If you enter a loan forbearance program, you’ll still have to repay the loan in full eventually. Interest may also continue to accrue.

How we chose the best quick loans

We reviewed more than 14 lenders to determine the overall best nine quick loans. To make our list, lenders must offer same- or next-day funding with competitive annual percentage rates (APRs). From there, we prioritize lenders based on the following factors:

  • Accessibility: Lenders are ranked higher if their personal loans are available to more people and require fewer conditions. This may include lower credit requirements, wider geographic availability, faster funding and easier and more transparent prequalification and application processes.
  • Rates and terms: We prioritize lenders with more competitive fixed rates, fewer fees and greater options for repayment terms, loan amounts and APR discounts.
  • Repayment experience: For starters, we consider each lender’s reputation and business practices. We also favor lenders that report to all major credit bureaus, offer reliable customer service and provide any unique perks to customers, like free wealth coaching.

Frequently asked questions

Technically, no loans are instant. No matter what, you have to fill out an application. And even if you go with a no-credit-check lender, it will still need to review your basic financial information.

That said, many lenders can provide loans the same day you apply. These include Alliant, LightStream, Rocket Loans and SoFi. You could also opt for a paycheck advance app — these generally have a fast funding timeline.

The easiest loans to get (payday loans, pawn shop loans and car title loans) are typically the most expensive. These also include no-credit-check installment loans. Before resorting to these options, you may want to check out Upstart, Avant or Upgrade. These lenders work with borrowers with fair-to-poor credit.

They can be, but it depends on the type of loan you get and where you get it from. Above all else, avoid predatory lenders. Also, read LendingTree personal loan reviews to get a feel for the customer experience. Finally, be sure that the lender’s site is encrypted — check for the lock symbol on the left-hand side of your navigation bar.