When faced with a financial emergency, there are several methods available for quick cash. When times are tough, these solutions may provide the extra help needed to get through it.
Payday advances offer a convenient way to access cash before your next paycheck arrives, but they come with significant risks and often carry high interest rates.
MoneyMutual
MoneyMutual is an online marketplace that connects borrowers with short-term lenders. It helps borrowers save time by eliminating the need to do extensive research and submit multiple loan applications.
Additionally, it provides resources to help borrowers avoid predatory loans and fees that could put them in debt.
The online application process takes only five minutes, and your details are quickly assessed by over sixty different organizations within the MoneyMutual lending network.
Once a lender approves your loan request, funds can be transferred into your bank account within 24 hours – making it one of the fastest and simplest methods for accessing emergency funding.
Avant
Avant is an unsecured personal loan company that offers speedy funding – often by the next business day. Plus, there are no prepayment penalties and it’s easy to qualify for an Avant personal loan with a credit score as low as 580.
Candidates for a personal loan with Avant must provide verification of their income and employment information. This can be done either through Avant’s online verification tool or directly with an originations specialist.
Once the application process is complete, you’ll need to electronically sign a loan agreement. If everything goes as expected, funds could be in your bank account as soon as the following day (if approved before 4:30 p.m. Central time on weekdays).
Upgrade
Upgrade is a financial technology company that provides personal loans and personal lines of credit through its lending partners Cross River Bank and Blue Ridge Bank.
This lender assists those with fair or bad credit build and rebuild their credit scores. It has a low minimum credit score requirement and offers a mobile app to manage loan payments.
Upgrade also offers a rate discount if you sign up for automatic payments. Its personal loans range from $1,000 to $50,000, with a minimum loan amount of $3,005 for Georgia residents and $6,400 for Massachusetts residents.
LendingPoint
LendingPoint is a fast and straightforward lender that offers personal loans up to $36,500 for applicants with fair credit scores. Their application process is straightforward, and funds can be deposited into your bank account within one business day of approval.
Before applying for a loan, you can prequalify by providing some basic information like your name, birthdate and income. The lender will run a soft credit inquiry that won’t affect your credit score.
Alternatively, you can apply for a loan with a full application by uploading documents like pay stubs and bank statements. However, LendingPoint will conduct a hard credit check prior to final approval which could negatively impact your credit score.
Funds Joy
If you need a fast and effortless payday loan, Funds Joy is an ideal choice. They provide loans ranging from $200 to $5,000 with an easy application process.
Additionally, it has a network of lenders which makes it simpler to locate the ideal lender for you.
However, it’s essential to note that the application process can take up to 10 minutes and there is a small loan origination fee of 1%-5%.
Additionally, it has formed a partnership with three credit bureaus to expedite the application process and make it stress-free for those in need of emergency loans who don’t have time to wait for documentation processing.
Prosper
Prosper is a peer-to-peer lender that connects borrowers with investors willing to fund their loans. These loans are secured, meaning the borrower does not need to provide collateral.
Prosper allows you to apply for a loan by filling out an online form and uploading documents. Your request will then be reviewed by Prosper’s underwriting staff, who will either approve it or deny it based on their evaluation of your situation.
With good credit, you may be eligible to borrow from as little as $2,000 up to $40,000. You can use the money for various purposes like debt consolidation, home improvement projects, major purchases and business expenses.
