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How To Get a Payday Advance Loan Online
A payday advance can cover an emergency situation, but you may want to consider the cost first.
Seychelle Thomas has over seven years of experience in personal finance and is an expert on debt consolidation, banking, credit cards, and lending. Her work has been published by MSN, GOBankingRates, and Bankrate.
Seychelle Thomas has over seven years of experience in personal finance and is an expert on debt consolidation, banking, credit cards, and lending. Her work has been published by MSN, GOBankingRates, and Bankrate.
Barry Bridges is the personal loans editor at Credible. Since 2017, he’s been writing and editing personal finance content, focusing on personal loans, credit cards, and insurance.
Barry Bridges is the personal loans editor at Credible. Since 2017, he’s been writing and editing personal finance content, focusing on personal loans, credit cards, and insurance.
Updated February 26, 2026
Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.”
Living paycheck to paycheck is difficult enough without costly emergencies arising. If you’ve exhausted all other borrowing options, your last resort might be a payday advance loan or payday cash advance.
These short-term borrowing alternatives offer small loan amounts and are repaid by your next payday. Most payday loans are more accessible for people with bad credit, since lenders often forgo credit checks. However, they’re also more difficult to repay and often trap borrowers in a vicious debt cycle. Personal loans are another option, and are often a better alternative to payday loans.
What to watch out for
Getting a payday advance online is just the digital version of borrowing from a payday loan lender at a storefront location. But whether online or in person, payday loans are an expensive way to borrow money — high fees and short repayment terms typically equate to triple-digit APRs. Before taking out a payday loan, consider alternatives that might be less convenient but also less costly.
What is a payday advance online?
Payday loans are available both in-person at a business and online. A payday advance online is just like it sounds — a short-term loan you sign up for on the internet. The loan is typically due your next payday and no credit check is required. Sounds great, except payday loans are notoriously expensive. Their annual percentage rates (APRs) are often in the triple digits. For example, in Texas, the average APR charged on payday loans was 527%.
For this reason, it’s best to consider other options, like cash advance apps, before getting a payday advance.
Getting a payday advance online is a simple process. Payday lenders and cash advance apps use a few key pieces of info to approve you for a payday advance online or a cash advance.
You must typically:
Verify your income
Have an active bank account
Have a valid ID (and be at least 18)
There’s usually no credit check with these lenders, so it generally only takes a few minutes to get approval after you apply. If approved, they’ll send you a bank deposit. As part of the contract, you authorize the payday loan or cash advance app company to withdraw the loan amount plus its fee from your bank account the next time you get paid.
Many people use this method to pay for unexpected expenses and emergencies, or to cover bills until their next payday. But access to instant cash comes at a high price. Although loan amounts are typically $500 or less, you could be paying $10 to $30 for each $100 borrowed on a payday loan.
A cash advance app, also called a loan app, is almost identical in process. But the fees are generally smaller. Some apps charge a monthly subscription fee or request tips at repayment instead.
For example: Let’s say you need to borrow $400 for the next two weeks. You take out a payday loan that charges $15 per $100 you borrow. You would repay a total of $460 — a 391.07% APR.
Instead, you could use a cash advance app to borrow the $400. The app doesn’t charge interest, but asks for a 5% tip at repayment. You’d repay a total of $420 — that’s an APR of 130.36%. Without the optional 5% tip, you’d avoid that high rate.
Pros and cons of a payday advance
Here are a few benefits and drawbacks to consider.
Pros
Extremely accessible: Whether you choose to get a payday loan online or in person, there’s no shortage of options and there’s often no credit check.
Quick access to funding: Payday loans are usually approved within minutes and paid out within the same day or the next day.
Helps you pay for urgent needs: When you’re out of options and need cash to pay for an emergency, payday loans are expensive, but could mean you can pay for it.
Cons
Exorbitant rates: In some cases, you’re paying an equivalent of up to 400% APR for a two-week borrowing term.
Excessive fees: These loans often come with origination fees, prepayment penalties, late fees, and renewal fees that add to your balance.
Prohibited in multiple states: Legislation to mitigate or eliminate high-cost payday lending has been passed in 20 states and Washington D.C.
Can create an almost inescapable debt cycle: Deducting interest and fees from your paycheck could make you reliant on payday loans to cover a lack of income. In states without regulations, payday loans can “rollover” your unpaid balance to a new loan and charge you for it.
Payday loan online lenders
Consider all of your other options before choosing a payday advance online. If you have no choice and payday loans are legal in your state, this lender is transparently priced and appears reputable, but proceed with caution.
Possible Finance
Possible Finance offers small loans of up to $500 that you repay within four payments. There are no late fees or penalty fees and they report your payment history to TransUnion and Experian to help you build credit.
The negative is how much the loans cost. Possible Finance’s annual percentage rates (APR) — which account for the interest rate plus fees — are generally around 150%. For comparison, APRs on personal loans for those with bad credit generally top out around 36%.
Other online loan options for bad credit
The following lenders don't offer traditional payday loans, but may be a good option if you need a longer repayment term or higher loan amount.
60 Month Loans
60 Month Loans provides loan amounts between $2,000 and $10,000 without a credit check. The repayment terms are also much longer than a typical payday loan, up to five years. Once approved, you should receive the loan funds within one to a few business days.
Relative to other bad-credit loans, the fees for 60MonthLoans appear reasonable. In states like South Carolina and Delaware, for example, 60 Month Loans charges up to a 7% loan fee and APRs of up to 35.83%.
OppLoans
OppLoans offers loan amounts from $500 to $5,000 with repayment periods between nine and 18 months. The maximum APR is 195%, which is high, but not as high as some payday loans (you'll need to apply to see your APR). You need to be paid via direct deposits to be eligible, and the company performs a soft credit check when you apply. OppLoans reports to the credit bureaus, which can help you improve credit (if you make payments on time).
There are several less costly alternatives to borrowing money through a payday advance loan.
Consider a cash advance app: A cash advance is similar to a payday loan in that you’ll repay the amount on or by your next payday. But cash advance apps typically have lower or no fees, which makes for much lower APRs. However, if you pay a subscription fee to use the service or provide a tip, you can increase the APR substantially, depending on the subscription fee and/or tip.
Take out a payday alternative loan (PAL): The APR on a PAL tops out at 28%, and the application fee can be no more than $20. Plus, repayment terms can last months, as opposed to 1 or 2 weeks. They’re available from credit unions, so you’ll need to be a member to qualify. Since they’re designed as an alternative to payday loans, qualification is otherwise relatively easy.
Borrowing money from friends or family: The people who care about you are more likely to lend you money without charging interest. Make sure you’re timely in repaying them.
Using a credit card: Although credit cards are high-interest revolving debt, they’re the lesser of two evils compared to a payday loan. If you can pay off your balance before the end of the billing cycle, you could save on interest.
Pick up a side gig: Make some extra money by picking up work after your day job such as food delivery, ride-share driving, part-time retail work, or dog-walking.
Ask for extra time with your creditors or set up a payment plan: Your bill collectors might give you extra time to pay if you let them know your situation. Some might even offer a payment plan that gradually gets you back on track.
Use a personal loan from a bank or credit union: Even if you have poor or fair credit, you could still qualify for a personal loan from some banks or credit unions. The terms are more affordable than a payday loan, and you’ll have longer to pay it back.
If you’re considering a payday advance loan, you might think you’re stuck with poor choices. But there’s lower-cost borrowing available through personal loans. Here are the primary differences between them:
Interest rate: Personal loans have fixed payments and a fixed interest rate, while payday loans typically have compounding interest.
Credit check: Payday advance loans don’t require a credit check in most cases. Personal loans typically do, and that hard credit inquiry can ding your score by a few points temporarily.
Loan amounts: Personal loans offer larger loan amounts, ranging from $1,000 to $50,000 on average. Payday advance loans are usually for much smaller amounts — $500 or less.
Repayment terms: Repaying a personal loan generally happens over 1 to 7 years, but the term could be longer depending on the loan type and lender. Payday loans withdraw repayment from your account by your next payday (usually about two weeks).
The rates that appear are from companies from which Credible receives compensation. This compensation does not impact how or where products appear within the table. The rates and information shown do not include all financial service providers or all of the displayed lenders' available services and product offerings.
Lender
Fixed (APR)
Loan Amounts
Min. Credit Score
4.9
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
LightStream is the online lending division of Truist Bank that was formed in 2012. It offers no-fee personal loans to borrowers with very good credit, along with extended repayment terms and large loan amounts. LightStream scored better than average in J.D. Power's 2025 U.S. Consumer Lending Satisfaction Study, beating out online lender SoFi by one position.
Loan amount
$5,000 to $100,000
Repayment terms
2 - 20 years, depending on loan purpose
Fees
None
Discounts
Autopay
Eligibility
Available in all states except VT
Min. income
$45,000
Customer service
Email
Soft credit check
No
Time to get funds
As soon as the same business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Founded in 2007, LendingClub is a digital marketplace bank that offers several financial products and services, including personal loans, auto refinance loans, business loans, checking accounts, savings accounts, and certificates of deposit.
Loan amount
$1,000 to $60,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all 50 states and D.C.
Min. income
None
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as next-day funding once approved
Loan uses
Debt consolidation, paying off credit cards, major purchase, home improvement
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Founded in 2012, Upstart is headquartered in San Mateo, California but operates nationwide. It offers personal loans, automotive retail and refinance loans, home equity lines of credit, and small, short-term loans through over 100 banks and credit unions. Upstart was an early adopter of AI and claims that its proprietary technology results in 43% higher approvals.
Loan amount
$1,000 to $75,000
Fees
Origination fee
Discounts
None
Eligibility
Available nationwide
Min. income
$12,000
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 to 3 business days
Loan uses
Pay off credit cards, consolidate debt, relocate, make a large purchase, and other purposes
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Best Egg was founded in 2014 and is owned and operated by Marlette Holdings, Inc. Best Egg’s loan products are available in most U.S. states except Iowa, Vermont, West Virginia, and D.C., and are originated by Cross River Bank.
Loan amount
$2,000 to $50,000
Fees
Origination fee, returned payment fee
Discounts
None
Eligibility
Available in all states except D.C., IA, VT, and WV
Min. income
$3,500
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 to 3 business days after successful verification
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Not available in CT, ID, IL, LA, MD, ME, MT, ND, RI, VT, or WI
No discounts
Minimum annual income requirement of $100,000
Funding takes at least five days
No direct-to-creditor payments
Company overview
BHG Financial is a fintech company specializing in large loans for high-income professionals and small-business owners. Loans are funded by Pinnacle Bank or County Bank. Along with personal loans for debt consolidation, BHG offers business loans and loans for medical professionals.
BHG Financial was founded in 2001 and originally called Bankers Healthcare Group.
Loan amount
up to $250,000
Repayment terms
3 - 10 years
Fees
Origination fees, late fees, other fees may apply
Discounts
None
Eligibility
Not available in CT, ID, IL, LA, MD, ME, MT, ND, RI, VT, or WI
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Upgrade, Inc. is a financial technology company founded in 2017. The company started as a personal loan lender, but has expanded to offer credit cards, checking and savings accounts, BNPL, and credit monitoring. Banking services including loans are offered through Cross River Bank and Blue Ridge Bank.
Loan amount
$1,000 to $50,000
Repayment terms
2 to 7 years
Fees
Origination fee
Discounts
Autopay and direct pay
Eligibility
Available in all 50 states but not D.C.
Min. income
$25,000
Customer service
Email
Soft credit check
Yes
Time to get funds
1 business day
Loan uses
Includes credit card refinancing, debt consolidation, home improvement, and major purchases
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Happy Monday, Inc. (formerly Payoff) is an online lending platform founded in 2009 with headquarters in Torrance, California. It partners with a wide range of banks and credit unions to provide loans primarily for debt consolidation and credit card refinancing. The company has funded over $6.5 billion in personal loans.
Loan amount
$5,000 to $50,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except IA, MA and NV
Min. income
$30,000
Customer service
Phone, email, chat
Soft credit check
Yes
Time to get funds
As soon as 3 - 6 business days after verification
Loan uses
Debt consolidation and credit card consolidation only
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Reach Financial is a fintech company that was founded in 2015. It specializes in personal loans for debt consolidation and credit card refinancing. Reach loans are issued by FinWise Bank, an FDIC-insured, Utah-based bank.
Loan amount
$1,000 to $40,000
Fees
Origination Fee, $15 Late Fee, $25 NSF Fee
Discounts
None
Eligibility
Available in all states except CO, CT, ME, NV, NH, TN, VT, WV, and all U.S. Territories
Min. income
$20,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
Funds typically deposited into your account in 1 business day13
Loan uses
Debt consolidation and credit card refinancing only
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
LendingPoint is a fintech company founded in 2014 out of Kennesaw, Georgia. The company specializes in personal loans and uses artificial intelligence and data models to broaden access for borrowers who might typically be denied by other lenders. Loans may be funded by one of several lenders, including FinWise Bank, Coastal Community Bank, and LendingPoint.
Loan amount
$2,000 to $25,000 (up to $36,500 direct with lender)
Fees
Origination fee (option to deduct upfront or add to financed amount)
Discounts
Rate discount review after 6 months of on-time payments)
Eligibility
Not available in CT, DC, IA, MD, ME, NE, NV, RI, VT, VW, or any U.S. Territories (eligible states may vary on the lender’s site)
Min. income
$35,000 ($39,000 through Credible)
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as the next business day
Loan uses
Debt consolidation, credit card financing, home improvement, wedding, medical or dental, car repair, taxes, other personal financial expenses
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rocket Loans, part of the Rocket Companies corporate group, offers personal loans for multiple uses with funding available as soon as the same day. Although based in the Midwest, Rocket Loans currently serves borrowers in more than 40 states.
Loan amount
$2,000 - $45,000
Fees
Late fee, origination fee up to 9.99%
Discounts
Autopay
Eligibility
Not available in IA, NV, WV, PR, MD
Min. income
$50,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as same business day
Loan purposes
Debt Consolidation, Credit Card Refinancing, Home Improvements, and other purposes
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Not transparent about minimum credit score requirements
$5,000 minimum loan amount
Company overview
SoFi, formally known as SoFi Technologies, Inc., is a bank and online lender that was founded in 2011. It started offering loans in 2015. SoFi also offers other financial services, including banking, investing, and student loan refinancing.
Loan amount
$5,000 to $100,000
Repayment terms
2 - 7 years
Fees
Option to pay an origination fee in exchange for a lower rate
Discounts
Autopay, direct pay
Eligibility
Available in all 50 states and D.C.
Min. income
Does not disclose
Customer service
Phone, email, live chat
Soft credit check
Yes
Time to get funds
Typically within a few days, given approval and bank account verification, but sometimes within the same day
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Founded in 2005, Prosper is a fintech lending company headquartered in San Francisco, California. It was the first SEC-approved peer-to-peer lending platform to connect borrowers with individual investors. Prosper has issued over $28 billion in personal loans and credit to 2 million people.
Loan amount
$2,000 to $50,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except IA, WV, and ND
Min. income
Greater than $0
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
On average, within 5 days of accepting your offer
Loan uses
Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Founded in 2012, Avant is an online lending platform. The Chicago-based company offers personal loans and credit cards designed for middle-income borrowers and has served more than 4 million customers.
Loan amount
$1,000 to $40,000**
Fees
Origination fee, late fee, dishonored payment fee
Discounts
None
Eligibility
Available in all states except HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Min. income
$1,200 monthly
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
Loan uses
Debt consolidation, emergency expense, life event, home improvement, and other purposes
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Autopay discount (the lowest rate includes the autopay discount)
2nd in J.D. Power's Consumer Lending Satisfaction Study
100% digital process
cons
Max loan amount is lower than most lenders (unless you're an existing customer with an Eligible Citi deposit account or credit card)
High credit score required
Company overview
A division of financial services company Citigroup, Citibank was originally chartered in 1812 as City Bank of New York. Citibank offers financial products and services that include online banking, investing, credit cards, wealth management, and lines of credit.
Loan amount
$2,000-$30,000 (up to $50,000 for Eligible Citi customers)
Fees
None
Discounts
0.5% APR autopay discount (included in the lowest available rate)
Eligibility
Available nationwide
Min. income
$30,000
Customer service
Email and mobile app
Soft credit check
Yes
Time to get funds
Same business day for most customers when deposited directly to a Citi® bank account or within 2 business days when deposited directly to a non-Citi® bank account
Loan uses
Can be used for almost any purpose, except for using the proceeds for post-secondary expenses or business purposes.
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Founded in 2012, Reprise Financial is an online lender that offers secured and unsecured personal loans to borrowers with bad and fair credit. Reprise loans are originated by WebBank.
Loan amount
$2,500 to $25,000 (Minimum $5,000 for OH, Minimum $3,500 for GA)
Repayment terms
3 to 5 years
Fees
$15 late fee except where the state has a different limit (ie. NM), return payment fees - $20 except where state has a different limit (ie – NM), and no prepayment penalty
Discounts
None
Eligibility
Unavailable in CO, CT, HI, IA, ME, MD, MA, NV, NJ, NY, PA, SD, VT, WA, and WV
Min. income
$30,000
Customer service
Phone
Soft credit check
Doesn't disclose
Time to get funds
1-7 business days depending on loan security type
Loan uses
Credit card refinancing, debt consolidation, emergencies, major purchases, medical and dental expenses, moving expenses, special occasions, unexpected expenses, vacation and travel
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Splash Financial is an personal loan marketplace that was founded in 2013. The company connects borrowers with partner lenders, including small banks and credit unions.
Loan amount
$3,000 - $100,000 (up to $50,000 on Credible)
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except VT. OH and NM net disbursed amount must be greater than $5,000. MA must be greater than $6,000
Min. income
$25,000
Customer service
Phone, email, live chat
Soft credit check
Yes
Time to get funds
Typically 1-3 days
Loan uses
Debt consolidation, credit card refinancing, home improvement, major purchases, paying bills or rent
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Universal Credit is an online lender powered by the fintech company Upgrade, with headquarters in San Francisco. Personal loans are provided through two partner banks: Cross River Bank and Blue Ridge Bank. Both banks are insured by the FDIC.
Loan amount
$1,000 - $50,000
Repayment terms
3, 5, or 7 years
Fees
Origination fee
Discounts
Autopay and direct pay
Eligibility
Available in all 50 states but not D.C.
Min. income
$25,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 business day after acceptance
Loan uses
Debt consolidation, paying off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
OneMain Financial was founded in 2006 but has a history extending back to 1912. It’s headquartered in Evansville, Indiana, with more than 1,300 branches in 47 states. Roughly 18 million customers have been served since 2006. OneMain specializes in personal loans and credit cards for non-prime customers.
Loan amount
$1,500 to $30,000
Fees
Origination fee, unsuccessful payment fee, late fee
Discounts
None
Eligibility
Must have photo ID issued by federal, state, or local government; not available in AK, AR, CT, KY, MA, RI, VT, or Washington, D.C.
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
LightStream is the online lending division of Truist Bank that was formed in 2012. It offers no-fee personal loans to borrowers with very good credit, along with extended repayment terms and large loan amounts. LightStream scored better than average in J.D. Power's 2025 U.S. Consumer Lending Satisfaction Study, beating out online lender SoFi by one position.
Loan amount
$5,000 to $100,000
Repayment terms
2 - 20 years, depending on loan purpose
Fees
None
Discounts
Autopay
Eligibility
Available in all states except VT
Min. income
$45,000
Customer service
Email
Soft credit check
No
Time to get funds
As soon as the same business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Founded in 2007, LendingClub is a digital marketplace bank that offers several financial products and services, including personal loans, auto refinance loans, business loans, checking accounts, savings accounts, and certificates of deposit.
Loan amount
$1,000 to $60,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all 50 states and D.C.
Min. income
None
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as next-day funding once approved
Loan uses
Debt consolidation, paying off credit cards, major purchase, home improvement
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Founded in 2012, Upstart is headquartered in San Mateo, California but operates nationwide. It offers personal loans, automotive retail and refinance loans, home equity lines of credit, and small, short-term loans through over 100 banks and credit unions. Upstart was an early adopter of AI and claims that its proprietary technology results in 43% higher approvals.
Loan amount
$1,000 to $75,000
Fees
Origination fee
Discounts
None
Eligibility
Available nationwide
Min. income
$12,000
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 to 3 business days
Loan uses
Pay off credit cards, consolidate debt, relocate, make a large purchase, and other purposes
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Best Egg was founded in 2014 and is owned and operated by Marlette Holdings, Inc. Best Egg’s loan products are available in most U.S. states except Iowa, Vermont, West Virginia, and D.C., and are originated by Cross River Bank.
Loan amount
$2,000 to $50,000
Fees
Origination fee, returned payment fee
Discounts
None
Eligibility
Available in all states except D.C., IA, VT, and WV
Min. income
$3,500
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 to 3 business days after successful verification
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Not available in CT, ID, IL, LA, MD, ME, MT, ND, RI, VT, or WI
No discounts
Minimum annual income requirement of $100,000
Funding takes at least five days
No direct-to-creditor payments
Company overview
BHG Financial is a fintech company specializing in large loans for high-income professionals and small-business owners. Loans are funded by Pinnacle Bank or County Bank. Along with personal loans for debt consolidation, BHG offers business loans and loans for medical professionals.
BHG Financial was founded in 2001 and originally called Bankers Healthcare Group.
Loan amount
up to $250,000
Repayment terms
3 - 10 years
Fees
Origination fees, late fees, other fees may apply
Discounts
None
Eligibility
Not available in CT, ID, IL, LA, MD, ME, MT, ND, RI, VT, or WI
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Upgrade, Inc. is a financial technology company founded in 2017. The company started as a personal loan lender, but has expanded to offer credit cards, checking and savings accounts, BNPL, and credit monitoring. Banking services including loans are offered through Cross River Bank and Blue Ridge Bank.
Loan amount
$1,000 to $50,000
Repayment terms
2 to 7 years
Fees
Origination fee
Discounts
Autopay and direct pay
Eligibility
Available in all 50 states but not D.C.
Min. income
$25,000
Customer service
Email
Soft credit check
Yes
Time to get funds
1 business day
Loan uses
Includes credit card refinancing, debt consolidation, home improvement, and major purchases
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Happy Monday, Inc. (formerly Payoff) is an online lending platform founded in 2009 with headquarters in Torrance, California. It partners with a wide range of banks and credit unions to provide loans primarily for debt consolidation and credit card refinancing. The company has funded over $6.5 billion in personal loans.
Loan amount
$5,000 to $50,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except IA, MA and NV
Min. income
$30,000
Customer service
Phone, email, chat
Soft credit check
Yes
Time to get funds
As soon as 3 - 6 business days after verification
Loan uses
Debt consolidation and credit card consolidation only
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Reach Financial is a fintech company that was founded in 2015. It specializes in personal loans for debt consolidation and credit card refinancing. Reach loans are issued by FinWise Bank, an FDIC-insured, Utah-based bank.
Loan amount
$1,000 to $40,000
Fees
Origination Fee, $15 Late Fee, $25 NSF Fee
Discounts
None
Eligibility
Available in all states except CO, CT, ME, NV, NH, TN, VT, WV, and all U.S. Territories
Min. income
$20,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
Funds typically deposited into your account in 1 business day13
Loan uses
Debt consolidation and credit card refinancing only
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
LendingPoint is a fintech company founded in 2014 out of Kennesaw, Georgia. The company specializes in personal loans and uses artificial intelligence and data models to broaden access for borrowers who might typically be denied by other lenders. Loans may be funded by one of several lenders, including FinWise Bank, Coastal Community Bank, and LendingPoint.
Loan amount
$2,000 to $25,000 (up to $36,500 direct with lender)
Fees
Origination fee (option to deduct upfront or add to financed amount)
Discounts
Rate discount review after 6 months of on-time payments)
Eligibility
Not available in CT, DC, IA, MD, ME, NE, NV, RI, VT, VW, or any U.S. Territories (eligible states may vary on the lender’s site)
Min. income
$35,000 ($39,000 through Credible)
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as the next business day
Loan uses
Debt consolidation, credit card financing, home improvement, wedding, medical or dental, car repair, taxes, other personal financial expenses
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rocket Loans, part of the Rocket Companies corporate group, offers personal loans for multiple uses with funding available as soon as the same day. Although based in the Midwest, Rocket Loans currently serves borrowers in more than 40 states.
Loan amount
$2,000 - $45,000
Fees
Late fee, origination fee up to 9.99%
Discounts
Autopay
Eligibility
Not available in IA, NV, WV, PR, MD
Min. income
$50,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as same business day
Loan purposes
Debt Consolidation, Credit Card Refinancing, Home Improvements, and other purposes
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Not transparent about minimum credit score requirements
$5,000 minimum loan amount
Company overview
SoFi, formally known as SoFi Technologies, Inc., is a bank and online lender that was founded in 2011. It started offering loans in 2015. SoFi also offers other financial services, including banking, investing, and student loan refinancing.
Loan amount
$5,000 to $100,000
Repayment terms
2 - 7 years
Fees
Option to pay an origination fee in exchange for a lower rate
Discounts
Autopay, direct pay
Eligibility
Available in all 50 states and D.C.
Min. income
Does not disclose
Customer service
Phone, email, live chat
Soft credit check
Yes
Time to get funds
Typically within a few days, given approval and bank account verification, but sometimes within the same day
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Founded in 2005, Prosper is a fintech lending company headquartered in San Francisco, California. It was the first SEC-approved peer-to-peer lending platform to connect borrowers with individual investors. Prosper has issued over $28 billion in personal loans and credit to 2 million people.
Loan amount
$2,000 to $50,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except IA, WV, and ND
Min. income
Greater than $0
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
On average, within 5 days of accepting your offer
Loan uses
Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Founded in 2012, Avant is an online lending platform. The Chicago-based company offers personal loans and credit cards designed for middle-income borrowers and has served more than 4 million customers.
Loan amount
$1,000 to $40,000**
Fees
Origination fee, late fee, dishonored payment fee
Discounts
None
Eligibility
Available in all states except HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Min. income
$1,200 monthly
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
Loan uses
Debt consolidation, emergency expense, life event, home improvement, and other purposes
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Autopay discount (the lowest rate includes the autopay discount)
2nd in J.D. Power's Consumer Lending Satisfaction Study
100% digital process
cons
Max loan amount is lower than most lenders (unless you're an existing customer with an Eligible Citi deposit account or credit card)
High credit score required
Company overview
A division of financial services company Citigroup, Citibank was originally chartered in 1812 as City Bank of New York. Citibank offers financial products and services that include online banking, investing, credit cards, wealth management, and lines of credit.
Loan amount
$2,000-$30,000 (up to $50,000 for Eligible Citi customers)
Fees
None
Discounts
0.5% APR autopay discount (included in the lowest available rate)
Eligibility
Available nationwide
Min. income
$30,000
Customer service
Email and mobile app
Soft credit check
Yes
Time to get funds
Same business day for most customers when deposited directly to a Citi® bank account or within 2 business days when deposited directly to a non-Citi® bank account
Loan uses
Can be used for almost any purpose, except for using the proceeds for post-secondary expenses or business purposes.
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Founded in 2012, Reprise Financial is an online lender that offers secured and unsecured personal loans to borrowers with bad and fair credit. Reprise loans are originated by WebBank.
Loan amount
$2,500 to $25,000 (Minimum $5,000 for OH, Minimum $3,500 for GA)
Repayment terms
3 to 5 years
Fees
$15 late fee except where the state has a different limit (ie. NM), return payment fees - $20 except where state has a different limit (ie – NM), and no prepayment penalty
Discounts
None
Eligibility
Unavailable in CO, CT, HI, IA, ME, MD, MA, NV, NJ, NY, PA, SD, VT, WA, and WV
Min. income
$30,000
Customer service
Phone
Soft credit check
Doesn't disclose
Time to get funds
1-7 business days depending on loan security type
Loan uses
Credit card refinancing, debt consolidation, emergencies, major purchases, medical and dental expenses, moving expenses, special occasions, unexpected expenses, vacation and travel
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Splash Financial is an personal loan marketplace that was founded in 2013. The company connects borrowers with partner lenders, including small banks and credit unions.
Loan amount
$3,000 - $100,000 (up to $50,000 on Credible)
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except VT. OH and NM net disbursed amount must be greater than $5,000. MA must be greater than $6,000
Min. income
$25,000
Customer service
Phone, email, live chat
Soft credit check
Yes
Time to get funds
Typically 1-3 days
Loan uses
Debt consolidation, credit card refinancing, home improvement, major purchases, paying bills or rent
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Universal Credit is an online lender powered by the fintech company Upgrade, with headquarters in San Francisco. Personal loans are provided through two partner banks: Cross River Bank and Blue Ridge Bank. Both banks are insured by the FDIC.
Loan amount
$1,000 - $50,000
Repayment terms
3, 5, or 7 years
Fees
Origination fee
Discounts
Autopay and direct pay
Eligibility
Available in all 50 states but not D.C.
Min. income
$25,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 business day after acceptance
Loan uses
Debt consolidation, paying off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
OneMain Financial was founded in 2006 but has a history extending back to 1912. It’s headquartered in Evansville, Indiana, with more than 1,300 branches in 47 states. Roughly 18 million customers have been served since 2006. OneMain specializes in personal loans and credit cards for non-prime customers.
Loan amount
$1,500 to $30,000
Fees
Origination fee, unsuccessful payment fee, late fee
Discounts
None
Eligibility
Must have photo ID issued by federal, state, or local government; not available in AK, AR, CT, KY, MA, RI, VT, or Washington, D.C.
Typically, payday loans don’t build credit. The payments on these loans aren’t reported to the three major credit bureaus. In most cases, the only time payday loan lenders report to the bureaus is if your account gets sent to collections, which harms your score.
What happens if you default on a payday loan?
Open
Defaulting on payday loans has serious consequences. Payday lenders usually keep trying to withdraw payment from your bank account if you default. This could create multiple overdraft or non-sufficient funds fees from your bank. The missed payments also come with hefty fees that add to your balance. If lenders still can’t collect payment, they’ll send your account to collections, which can tank your credit score.
Can you get a payday loan with bad credit?
Open
Most likely, yes. Payday advance loans typically offer loans without a credit check by using other factors to approve you. Bad-credit borrowers might see them as a solid option, but sky-high APRs and fees make these loans harder to repay.
Should I get a payday advance online or a personal loan?
Open
A personal loan is less expensive compared to a payday loan. If you need a larger amount to pay for emergencies, a personal loan is arguably better. Some personal loan lenders even use factors outside your credit score to qualify you, so even if you have bad credit, a personal loan is likely still an option.
It could take anywhere from a few hours to a few days (or longer) to get a personal loan. Some lenders offer same-day loans if you get your application in and approved by the lender’s cutoff time. But most can send funds within one to two business days once your application is approved. To expedite funding, fill out the application fully and accurately and provide any documentation immediately if the lender requests it. Also, choose a lender like SoFi, Zable, or LightStream that offers same-day loans.
Can I get a loan with bad credit?
Open
You may be able to get a loan with bad credit, but it’s crucial to compare your options as not all bad credit loans are created equal — and some are a downright bad idea. If you need a few hundred dollars until your next paycheck, a cash advance app may be a safer option than a payday loan, especially if you don’t pay extra to expedite funds and skip tipping.
BNPL apps can be a no-fee, no-interest option if you need to make a retail purchase and can pay the loan back over 6 weeks. For longer terms on $1,000 loans or more, try a personal loan for bad credit. Most lenders check your credit, but some like OneMain Financial and Upstart have low or no credit score minimums.
How long do you have to pay off a personal loan?
Open
Personal loan repayment terms generally range from two to seven years, but may be longer for certain types of loans, like home improvement loans. A longer term typically means lower monthly payments, but higher overall interest costs. With a shorter term, you could save on interest and may get a lower interest rate, but your monthly payment will likely be higher. You can usually pay off a loan as soon as you’d like — most lenders don’t charge prepayment penalties.
Disclosure: Some lending partners that participate in Credible’s comparison marketplace offer loans to borrowers with scores as low as 550. Borrowers with low scores will have fewer lending options than borrowers with higher credit scores.
Seychelle Thomas has over seven years of experience in personal finance and is an expert on debt consolidation, banking, credit cards, and lending. Her work has been published by MSN, GOBankingRates, and Bankrate.
